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‘Making real progress on issue of uranium exports to India’

‘Making real progress on issue of uranium exports to India’

 By Anil Sasi SYDNEY: Australia and India are making “real progress” on the issue of uranium exports to India, Australia’s trade and investment minister Simon Birmingham has indicated.   This comes amid reports that two Australian companies BHP Billiton, the world’s biggest mining company, and Heathgate Resources, an affiliate of US company General Atomics, engaging with […]

High-level panel for ‘unambiguous’ mandate for negotiations with US

High-level panel for ‘unambiguous’ mandate for negotiations with US

  By Pranav Mukul  NEW DELHI: The issues pertaining to import tariffs on information and communication technology (ICT) equipment, on which the US has sought duty elimination, has reached the highest corridors of the government with an inter-ministerial panel comprising finance minister Arun Jaitley, commerce and industry minister Suresh Prabhu and IT minister Ravi Shankar Prasad […]

India set to buy Seahawk helicopters from US for $2 billion

WASHINGTON: India has sought from the US 24 multi-role MH-60 ‘Romeo’ anti-submarine helicopters for its Navy at an estimated cost of $2 billion, according Baytown, Clear Lake, Cypress, Desi news, Greater Houston, Houston, Houston Desi news, India, Indian American community, Indian News, Indians in America, Indo-American News, Katy, NRI, pearland, south asia, South India, Sugar Land, […]

‘Day of reckoning’: Amid friction with govt, all eyes now on RBI board meeting tomorrow

‘Day of reckoning’: Amid friction with govt, all eyes now on RBI board meeting tomorrow

NEW DELHI: Amid an ongoing rift between the Union government and the central bank, all eyes will be on the board meeting of the Reserve Bank of India (RBI) on Monday. Finance Ministry nominees and some independent directors are expected to take on Governor Urjit Patel and his team over issues ranging from liquidity for […]

Raghuram Rajan: Demonetisation, GST held back India’s economic growth, 7% not enough

Raghuram Rajan: Demonetisation, GST held back India’s economic growth, 7% not enough

NEW DELHI: Former Reserve Bank of India governor Raghuram Rajan has contended that the introduction of demonetisation and the Goods and Services Tax (GST) were the two major events that held back India’s economic growth last year, PTI reported. Speaking at the University of California in Berkley on Friday, Rajan maintained that the seven per cent […]

Government mulls selling 149 fields of ONGC to private firms

Government mulls selling 149 fields of ONGC to private firms

The government is mulling selling as many as 149 small and marginal oil and gas fields of ONGC to private and foreign companies and allow the state-owned firm to focus only on big fields, sources with knowledge of the development said. On the anvil is some kind of extension of the Discovered Small Field (DSF) […]

Where the wild coffee beans are

Where the wild coffee beans are

By Vikram Shah Cornerstone, Tat Tvam Asi, Hulikere, Agora. The names may evoke disparate traditions and images—English country manors, Vedic philosophy, obscure hamlets in Karnataka, ancient Greek democracies—but what they have in common is coffee. These are four of the six “wildlife friendly” certified estates in Karnataka’s Chikmagalur region from where the Bengaluru-based Wild Kaapi […]

After US relief, India works to pay for Iran oil in rupees

After US relief, India works to pay for Iran oil in rupees

By Indrani Bagchi NEW DELHI: With the US granting a  180-day exemption on Iranian oil sanctions to India  ahead of the restrictions kicking in from Monday, India and Iran  are finalising details of a mechanism that will allow New Delhi to pay  entirely in Indian currency, at a bank in India. India will revive a previous […]

Remittances by overseas Indians set to hit record high amid rupee slump

Remittances by overseas Indians set to hit record high amid rupee slump

MUMBAI: Lured by the sharp slump in rupee against the dollar, Indians living overseas may boost remittances to a record, helping bolster the nation’s efforts to support Asia’s worst-performing major currency. The country is expected to receive remittances of about $76 billion in 2018, 10% more than in the previous year, according to estimates by EbixCash, […]

India’s rickshaw revolution leaves China in the dust

India’s rickshaw revolution leaves China in the dust

An electric-vehicle revolution is gaining ground in India, and it has nothing to do with cars. The South Asian nation is home to about 1.5 million battery-powered, three-wheeled rickshaws – a fleet bigger than the total number of electric passenger cars sold in China since 2011. But while the world’s largest auto market dangled significant subsidies […]

The $41 bn wealth gap that divides India’s richest brothers

The $41 bn wealth gap that divides India’s richest brothers

MUMBAI: Over the past year, the fortunes of the two brothers at the helm of India’s wealthiest dynasty have grown apart — to more than $40 billion. Elder sibling Mukesh Ambani, 61, toppled China’s Jack Ma as Asia’s richest man, after driving a telecommunications revolution in India that propelled his petrochemicals conglomerate Reliance Industries Ltd. into […]

ArcelorMittal entry set to heat up India’s steel industry

ArcelorMittal entry set to heat up India’s steel industry

MUMBAI: The entry of ArcelorMittal, the world’s largest steelmaker, into the Indian market will force existing private sector players to increase efficiency and control costs, analysts say. A third steel producer, after Tata Steel Ltd and JSW Steel Ltd, with both financial heft and expertise, is expected to be good for the domestic market. On Friday, […]

Why IT firms could soon be forced to let the senior techie go

Why IT firms could soon be forced to let the senior techie go

If you are 40 years old, a techie and not in step with swiftly changing times, your professional future could be bleak. India’s information technology (IT) sector is being redrawn by new-age trends such as automation, artificial intelligence and cloud computing Emerging technology poses a big threat to jobs  and companies. It can force companies to rationalise […]

PM Modi to brainstorm oil scenario with global CEOs

PM Modi to brainstorm oil scenario with global CEOs

NEW DELHI: Prime Minister Narendra Modi will Monday brainstorm with chief executives of top global and Indian oil and gas companies on emerging energy scenario, with ripples from US sanctions on Iran and volatile oil prices threatening growth. The third annual meeting would also deliberate on ways to revive investment in oil and gas exploration […]

Qualcomm plans to set up campus in Hyderabad—its largest outside US

Qualcomm plans to set up campus in Hyderabad—its largest outside US

HYDERABAD: Tech major Qualcomm Saturday announced plans to set up its largest campus outside the U.S. here. The company’s officials met Minister for IT in the Caretaker government K T Rama Rao Saturday to discuss their growth plans in the city. “Qualcomm will be investing USD 400 million (Rs 3,000 crore) to set up their campus […]

Markets continue free fall post RBI meet; rupee hits 73.76

Markets continue free fall post RBI meet; rupee hits 73.76

MUMBAI: Stock indices Friday slumped for the third session in a row and the rupee fell to record low of 74 per dollar after the Reserve Bank unexpectedly kept the interest rates unchanged in the bi-monthly monetary policy review. The BSE Sensex plunged 792.17 points to end at a near six-month low of 34,376.99, while the […]

What oil at $100 a barrel would mean for the global economy

What oil at $100 a barrel would mean for the global economy

Rising oil prices are prompting forecasts of a return to  $100 a barrel  for the first time since 2014, creating both winners and losers in the world economy. Exporters of the fuel would enjoy bumper returns, giving a fillip to companies and government coffers. By contrast, consuming nations would bear the cost at the pump, […]

PM Modi inaugurates LNG terminal, chocolate factory in Gujarat

PM Modi inaugurates LNG terminal, chocolate factory in Gujarat

By Maulik Pathak AHMEDABAD: Prime Minister Narendra Modi on Sunday inaugurated a string of development projects in Gujarat, including a 5 million tonne per annum (mtpa) capacity liquefied natural gas (LNG) terminal at Mundra and a chocolate factory of the Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF), the country’s biggest milk cooperative known for its Amul brand of products, […]

Fitch ups India’s growth forecast to 7.8 per cent for financial year 2019

Fitch ups India’s growth forecast to 7.8 per cent for financial year 2019

NEW DELHI: Fitch Ratings Friday upped India’s growth forecast for the current fiscal to 7.8 per cent, from 7.4 per cent projected earlier. In its Global Economic Outlook, Fitch, however, flagged tightening of financial conditions, rising oil bill and weak bank balance sheets as headwinds to growth. “We have revised up our forecast for FY2018-2019 […]

FPIs turn net sellers in September, pull out ₹15,365 crore so far

FPIs turn net sellers in September, pull out ₹15,365 crore so far

NEW DELHI: Overseas investors have pulled out a massive ₹15,365 crore ($2.1 billion) from the capital markets so far in September, after putting in funds during the previous two months, on widening current account deficit coupled with global trade tensions. The latest outflow comes following a net infusion of close to ₹5,200 crore in the capital […]