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NEW DELHI: India is likely to withdraw from an oil block in the South China Sea after hydrocarbons did not show up in an exploratory well, said government sources here on Thursday. Officials have conveyed to Vietnam plans to terminate operations on commercial considerations, said the sources who knew...
NEW DELHI:India’s trade gap narrowed to a seven-month low in April on weaker imports of gold, silver and petroleum, offering some respite to policymakers struggling to contain the burgeoning current account deficit. The commerce department reported on Thursday that trade deficit narrowed to $13.4 billion in April from $13.9...
NEW DELHI: The monsoon is likely to hit the southern tip of the country on time in the first week of June, said India’s top weather department official on Thursday, a week before the official forecast, lifting hopes of better farm output for the third successive year and a...
MUMBAI: The Reserve Bank of India ordered exporters to convert half of their foreign exchange earnings kept in bank accounts into Indian rupee to prop up the worst-performing BRICS currency, a day after it closed at a record low, prompting fears of a further slide. But the relief lasted...
MUMBAI | NEW DELHI: The union cabinet on Thursday deferred a decision on modifications to the insurance amendment bill as did not see great hurry in moving changes to the law if it could not increase the foreign direct investment in the sector to 49% from 26%. The cabinet...
By Nantoo Banerjee Blame it to the policy paralysis or policy death in New Delhi’s corridors of power, the drug and healthcare industry is having a field day in India raising prices, costs of hospitalization and clinical tests and doctor’s fees at will. The Insurance Regulatory and Development Authority’s...
From Pradeep Kapoor LUCKNOW: Stage is set for Akhilesh Yadav government to set up high level commission to look into various cases of corruption to the tune of several thousands of crores of rupees during Mayawati regime. It would be worth mentioning here that Chief Minister Akhilesh Yadav has...
From Ashis Biswas KOLKATA: As far as the US and Western democracies are concerned, fresh winds of change are blowing over West Bengal and Bangladesh, which together form a strategically important segment of South Asia. The election victory of the nationalist Awami league over the fundamentalist BNP was a...
India has positioned itself as a natural leader of the Indian Ocean region due to it’s strategic location and operational capability. The Indian Navy was asked to be prepared to meet any eventualities in view of the complex emerging security matrix in the region. India has a very strategic...
The Bombay High Court Tuesday permitted the Indian Navy to decommission and destroy a frigate which had partially sunk after a collision with a foreign ship almost one-and-a-half years ago, an official said. Justice Roshan Dalvi granted the clearance in response to an application filed by the Indian Navy...
HYDERABAD: The HPCL board will consider signing crude import agreement with the State Oil Company of Azerbaijan Republic (SOCAR), a top official has said. The Azerbaijani company has come forward to supply crude and the proposal will be taken up with the HPCL Board, said K Murali, Director Refineries,...
NEW DELHI: US telecom giant Qualcomm Inc will rope in an operator as partner, who would initially pick up the 26 per cent stake held by Tulip Telecom and GTL Group in its India broadband wireless access (BWA) venture. The two hold 13 per cent each in the venture. Talks...
NEW DELHI: The parliamentary standing committee on finance has proposed a Securities and Exchange Board ofIndia(Sebi) and Reserve Bank of India (RBI) co-ordination mechanism to monitor foreign investments in the stock market. In its report on the Prevention of Money Laundering (Amendment) Bill, 2011, tabled in Parliament today, the...
NEW DELHI: A parliamentary panel has pulled up the coal ministry for cancelling allocations to power companies without trying to address the issues that led to delays in developing coal blocks. The ministry had been acting like a big brother, trying to intimidate power companies for reasons beyond their...
MUMBAI: The Indian rupee fell the most since December to a new closing low on Wednesday, while currency strategists forecast more pain as central bank intervention remains limited and inflows dry up. The rupee may touch a new low of 57 to the US dollar in the next three...
By Kalyani Shankar The US Secretary of State Hillary Clinton’s visit this week to India has brought West Bengal and its chief minister Mamata Banerjee to focus because she chose to break her journey in Kolkata. The jubilant chief minister had a proper briefing from External affairs minister S.M....
By Nora Chopra Rahul Gandhi is all set to take charge of the party as Working President in the next AICC reshuffle, after the name of the President of India is announced some time next month. He has finally agreed on his mother’s insistence to take charge and shoulder...
NEW DELHI: Finance Minister Pranab Mukherjee on Tuesday announced to bring out a white paper on black money before the end of Parliaments budget session on May 22. It is in the final stage of drafting and will be tabled not on the last day of the session but much...