Friday, April 11, 2008

India to support Africa’s food security projects

by Jo Black

India has offered its unstinted support to the African nations in their quest for food security, with Mr. Pranab Mukherjee, Union External Affairs Minister, extending India’s total support in agriculture extension, livestock development, fisheries, horticulture and climate change projects.
Addressing the business session of the India-Africa Forum Summit, Mr. Mukherjee said, food security was one of [...]

Thursday, April 10, 2008

Central Bank Chief Of Indonesia Detained

by Rohan Parker

An investigation into corruption is currently underway in Indonesia, and central bank governor Burhanuddin Abdullah has now become the highest ranking official to be detained due to the probe.
After the 60 year old was taken into custody,police took him to the police headquarters in Jakarta, where his lawyer, Mohamad Assegaf, summarily accused the detainment [...]

Foreign trade policy on Indian exports to release

by Jo Black

The Foreign Trade Policy to be released by the Indian Commerce and Industry Minister, Mr Kamal Nath on Friday should target cost pressures on Indian exports, according to the Confederation of Indian Industry (CII).
This is necessary to give a fillip to sectors that have been hit by the sharp appreciation of the rupee, [...]

Indian exports should be competitive: ASSOCHAM

by Jo Black

Exporters, especially from the Small and Medium Enterprises (SMEs) feel that both the government and exporters need to go on war-footing to make exports more competitive in the wake of rupee appreciation for fiscal 2008-09.
Appreciating the government’s initiatives mainly in helping the export sector to tide over the rupee appreciation, exporters added that without [...]

India, Israeli to collaborate on renewable energy technologies

by Jo Black

Industries from India and Israel will collaborate, with the support of their respective governments, in mutually beneficial projects involving renewable energy technologies. Leading Israeli companies involved in solar power, wind energy and others were in India to exchange views with their Indian counterparts as part of a seminar on “Renewable Energy Technologies: Opportunities for [...]

Wednesday, April 9, 2008

China Signs Aerospace Hub Deal

by Elisha Sanders

China’s National Aerospace Industrial Base and the China Academy of Space Technology have signed a landmark deal in which they are to co-build a world class aerospace base in China’s Northwest Shaanxi Province.
The National Development and Reform Commission deputy director, Zhang Xiaoqiang, said that the region was an aerospace hub, within China, and that more [...]

Intel To Invest $500 Million In China

by Elisha Sanders

Intel Corp have announced that they have set aside $500 million to invest in the rapidly expanding technology market in China.
Managing the fund is Intel Capital, whose director is Arvind Sodhani who said in an interview that the group is going to seek out the most economically viable investments in a range of sectors, [...]

Asian Stock Markets Take Downward Turn

by Rohan Parker

Asian stocks on the U.S. stock market have dropped to their lowest point in the past two weeks after the Federal Reserve have warned of a continuing recession for the U.S. economy. Those hardest hit were the largest consumer electronics manufacturer, Matsushita Electric Industrial Co.
This new decrease has sent Matsushita to their lowest point since [...]

Sectoral analysis suggests twin stragegy to make exports inclusive

by Jo Black

The Confederation of Indian Industry (CII) has suggested a twin strategy of focussing on manufacturing sectors - Textiles, Leather, Gems & Jewellery and Engineering, and a renewed focus on two large markets of Latin America and Caribbean (LAC) and Africa to make the benefits of export growth dispersed across India. This is in line with [...]

Hike in interest rates may worsen the price and supply situation: ASSOCHAM

by Jo Black

The price and supply conditions may get worse if the Reserve Bank of India resorts to raising interest rate to control the spiraling inflation and the move would not only hurt the industry but also the consumers, an Assocham Business Barometer (ABB) quick CEOs survey has revealed.
94 per cent of the 165 CEOs from [...]

Indian government clears 20 FDI proposals

by Jo Black

Indian Finance Minister, Mr. P. Chidambaram has approved 20 Foreign Direct Investment proposals recommended by Foreign Investment Promotion Board (FIPB) in its meeting held on 28th March, 2008.
The approval amounts to Rs. 19.6205 billion ($516.3 million).
The proposals are related to Ministries/Departments, namely Commerce, Heavy Industry, Industrial Policy & Promotion, Information & Broadcasting, [...]

Tuesday, April 8, 2008

With little more patience, essential commodities prices would fall: ASSOCHAM

by Jo Black

Reacting on 7 per cent inflation, the Associated Chambers of Commerce & Industry of India (ASSOCHAM) President Mr. Venugopal N. Dhoot said that Government has taken sufficient corrective measures to contain inflation and hoped that the measures would yield results and bring down prices of essential commodities to manageable limits in next few [...]

Use Fiscal measures to contain inlfation and monetary measures to boost growth: CII

by Jo Black

Confederation of Indian Industry (CII) expresses its concern over the increase in WPI inflation and opines that current inflation has been a supply side driven phenomenon which needs to be dealt with cautiously so as to not sacrifice growth over price stability. While CII appreciates the tight position of RBI in dealing with Growth versus [...]

Take Indian Inc. into confidence before concluding FTAS - ASSOCHAM

by Jo Black

The Associated Chambers of Commerce and Industry of India (ASSOCHAM) while supporting the government in exploring possibilities for Free Trade Agreements (FTA) has simultaneously cautioned it to go slow towards FTAs unless Indian Inc. is taken into confidence.
Releasing the study brought out by the ASSOCHAM on India’s FTA’s and the Indian Industry, its President [...]

Monday, April 7, 2008

India Keen to learn best practices from Singapore: Kamal Nath

by Jo Black

India’s economic engagement with the world is expected to touch US$550 billion in 2007-08, announced Mr. Kamal Nath, Indian Minister of Commerce and Industry, in Singapore. He was addressing the opening session of the Incredible India@60 campaign jointly organized in Singapore by the Government of India and the Confederation of Indian Industry.
Stating that India [...]

Record FDI inflows into India

by Jo Black

Foreign Direct Investment (FDI) equity capital inflow during the year 2007-08 till February 2008 has reached a record level of US $ 20.1 billion. This is the highest FDI into equity in the country during any year.
FDI inflows received in the month of February 2008 are an unprecedented US $ 5.671 billion. The inflows [...]

Sale (re issue) of “6.57 percent government stock 2011”

by Jo Black

Indian federal government have announced the sale (re-issue) of “6.57 percent Government Stock, 2011″ under Market Stabilization Scheme for a notified amount of Rs. 5,000 crore (nominal). The Government Stock will be sold through price based auction using multiple price method. The auctions will be conducted by the Reserve Bank of India, Mumbai [...]

Friday, April 4, 2008

India’s I.P suffers 35% loss due to power shortage

by Jo Black

Indian Inc. has started feeling the pinch of power Summer with its industrial production already falling down by about 25% in February-March 2008, which would go around 35% between April-July this year as worsening power situation would further aggravate with peak summers yet to arrive.
The aforesaid estimates are made by The Associated Chambers of [...]

CII and NIIT join hands for ICT development in Africa

by Jo Black

CII, India’s apex industry body and NIIT, leading Global Talent Development Corporation have entered into an agreement to help create ICT infrastructure and foster International Software Talent in the African continent. As part of this capacity building and skill development endeavour, NIIT and CII will share high quality education resources from India and involve other [...]

CII, Myanmar sign MoU to promote trade ties

by Jo Black

The Union of Myanmar Federation of Chambers of Commerce & Industry (UMFCCI ) and the Confederation of Indian Industry ( CII), the two apex industry organizations of Myanmar and India, welcomed the agreement to open the crucial Kaladan Multi-Modal Transit Transport Facility, as they signed a Memorandum of Understanding in New Delhi to promote cooperation [...]

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