Monday, March 31, 2008

Energy Derivatives and Emission Trading must be effective and sustainable: says new CII report

by Jo Black

Energy Derivatives can provide a low cost energy alternatives and popularizing emission trading can go a long way in providing sustainable and effective energy solutions to a fast developing and energy starved economy like India, said H L Bajaj, Technical Member, Appellate Tribunal for Electricity, at a conference on Energy Derivatives and Emission Trading organized [...]

India’s exports to touch US$ 200 billion by 2009

by Jo Black

India’s total exports of merchandise goods will touch US$ 200 billion in 2009, which means exports will clock an over 20 percent growth for all the five years of the policy (2004-09). This has been indicated in a CEO survey conducted by the Confederation of Indian Industry (CII) on the Foreign Trade Policy.
CII members [...]

India’s external debt for the quarter ended December 2007

by Jo Black

India’s external debt outstanding at the end of December 2007 was US$ 201.4 billion, reflecting a rise of US$ 10.3 billion over the quarter. As compared to the level of US$ 169.7 billion at end-March 2007, India’s external debt at end-December 2007 increased by US$ 31.8 billion. Valuation change, due to the depreciation of US [...]

China Issued 32.6% More Bank Cards In 2007

by Elisha Sanders

Chinese banks have issued 32.6% more cards for 2007 than for the year before. All up 1.5 billion cards were issued, according to the People’s Bank of China.
Within that figure, 1.41 billion were debit cards, which was an increase of 30.4% from the previous year, and 90.26 million credit cards were issued, which was [...]

Official Opening Of Hangzhou Bay Bridge Set For May

by Elisha Sanders

China has announced that the Hangzhou Bay Bridge, which will be the longest sea-spanning bridge in the world, will officially open on May 1st.
Chief commander of the bridge building project, Wang Yong, said that 95% of construction was complete, and that only ancillary work was yet to be completed.
Once the bridge which [...]

Friday, March 28, 2008

Inflation and Jobless Figures Rise In Japan

by Rohan Parker

The unemployment rate in Japan has risen for the first time in five months, along with consumer prices hiking up faster than has been seen for nearly a decade, which all serves to fuel fears that the Japanese economy may be rapidly declining into a recession.
According to the bureau of statistics in Tokyo, the [...]

Grain Price To Rise In China To Combat Inflation

by Elisha Sanders

The National Development and Reform Commission (NDRC) released a statement on Friday in which they outlined their bid to both stem inflation rises and boost grain production in China, and has for the second time this year raised the minimum purchase price for both rice and wheat.
This comes just one day after the national government [...]

Currency swap agreement between India and Japan

by Jo Black

Indian federal government gave its approval for authorizing the Reserve Bank of India to sign the proposed Currency Swap Agreement with the Bank of Japan to exchange an amount of US $ 3 billion against the respective domestic currency for mitigating short term Balance of Payment (BOP) problem.
The actual draw down will be effected [...]

India’s booming high end market attracts top Italian Luxury goods

by Jo Black

India’s rapidly growing high end retail market, which is expected to increase from the current $3.5 billion to $30 billion by 2015, has attracted Italy’s major high-end international companies, represented by their industry association Altagamma.
Italy is a style icon of today that has shaped attitudes the world over and India is no exception, said [...]

Thursday, March 27, 2008

Credit Losses Push Asian Stocks Down

by Rohan Parker

For the first time in the past five days, Asian stocks have declined; in the lead of those stocks falling is banks and automakers. Fears of the U.S. economy depreciating due to the ongoing credit market turmoil is being touted as the reason for the downward movement in Asian stocks.
As Toyota Motor Corp. receives [...]

New India needs new engagement, says Gordon Brown

by Jo Black

A new India, with a rising confidence, is clearly visible. This requires new engagement by the United Kingdom. This was stated by Rt Hon Gordon Brown MP, Prime Minister of the United Kingdom, while interacting with a 14-member delegation from the Confederation of Indian Industry (CII), led by Mr Sunil Bharti Mittal, President, [...]

Nanotechnology is the future opportunity for Indian companies: Pillai

by Jo Black

Indian growth story is continuing and moving forward at a steady pace overcoming problems said Mr. G.K. Pillai, Secretary, Ministry of Commerce and Industry, Government of India while speaking at the Chem Summit 2008 ‘ Chemical Industry’s contribution to nation building’ organized by Confederation of Indian Industry at New Delhi. He said Electronic data interface [...]

Brazil-India industry must work together for economic growth

by Jo Black

India and Brazil are emerging as engines of growth in the changing world economic scenario and the business community in the two countries must work more closely to realize the immense potential this offers, said Kamal Nath, Indian Minister of Commerce and Industry, addressing industry representatives from the two countries at a meeting “India-Brazil, partners [...]

Wednesday, March 26, 2008

India to strengthen bilateral ties with New Zealand

by Jo Black

Mr. Kamal Nath, Indian Minister of Commerce and Industry, during his meeting with Mr. Jim Anderton, the New Zealand Minister for Agriculture, Forestry, Bio-Security and Fisheries, who called on him here today, has called for further strengthing of the bilateral ties between India and New Zealand. Observing that technical cooperation need to be put on [...]

India’s challenge is to achieve global ambitions

by Jo Black

At a session on “India’s Engagement with the World”, organised by the Aspen Institute in New Delhi on 25 March 2008, Prof Sugata Bose, Gardiner Professor of Oceanic History and Affairs, Harvard University, said that India’s main contemporary challenge is to maintain its global ambitions by nurturing its relations with the United States while ensuring [...]

FICCI seeks manufacturing policy for India

by Jo Black

In its suggestions to NMCC (National Manufacturing Competitiveness Council), FICCI emphasized the need for formulating a Manufacturing Policy for India to achieve a sustainable growth of 12% per annum and to increase the share of manufacturing sector in our GDP. FICCI said that the Government should formulate a comprehensive Manufacturing Policy which should provide guidelines [...]

Tuesday, March 25, 2008

Indian coal secretary favors private sector involvement in coal mining

by Jo Black

As on date, Coal Mining is primarily a Nationalised industry, said Mr. H C Gupta, Secretary, Ministry of Coal at the second meeting of the Confederation of Indian Industry (CII) National Committee on Mining on 24th March 2008 at New Delhi. He mentioned that almost 94% production of coal in the country is attributed to [...]

Corporate majors optimistic on retail boom

by Jo Black

As investment rate of 36.3 per cent is driving the Indian growth story, the corporate retailers across the country have announced investments plans amounting to Rs. 1318. 04 billion ($34.6 billion) in past 6 months, for expanding their network of stores by the next four-five years to cash in the retail boom, according to [...]

Indian delegation to meet British PM

by Jo Black

A 15-member high-level delegation led by Mr Sunil Bharti Mittal, President, Confederation of Indian Industry (CII) and Chairman and Group CEO, Bharti Enterprises is scheduled to meet Rt Hon Gordon Brown MP, Prime Minister of the United Kingdom on 25th March 2008 in London.
The CII delegation has been invited to meet with the British Prime [...]

Monday, March 24, 2008

China Creates New Green Ministry Department

by Elisha Sanders

Last week saw China establish five new super ministries, one of which is the Ministry of Environmental Protection (MEP), whose responsibility is, naturally enough, to stand in the forefront of those active against environmental concerns within the country.
Formerly titled the State Environmental Protection Administration, or SEPA, the group has already updated the official website [...]

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