Wednesday, June 25, 2008

India’s CII signs MoU with France’s GICAT

by Jo Black

Confederation of Indian Industry (CII), a non-government, not-for-profit, industry led and industry managed organisation, which plays a proactive role in India’s development process, has signed a Memorandum of Understanding (MoU) with the GICAT (Grupement des industries franchises de defense terrestre), French Defence Industry Association for Land Systems.
The MoU, which was signed on Wednesday (June [...]

April/May Railway freight revenue up

by Jo Black

Indian Railways generated Rs.89.9629 billion ($2.24 billion) of revenue earnings from freight traffic during April-May 2008 as compared to Rs. 73.5679 billion ($1.83 billion) during the corresponding period last year, registering an increase of 10.87 per cent.
Railways carried 137.73 million tonnes of freight traffic during April-May 2008 as compared to 124.98 million tonnes carried [...]

IPO outlook to remain bleak for 2008

by Jo Black

A recent study conducted by ASSOCHAM Eco Pulse (AEP) reveals that weak investor sentiment in stock markets, easier ECB norms, high inflation rate and economic slowdown have depressed the overall outlook for the IPO market in the year 2008.
The ASSOCHAM Study “IPO Outlook 2008”, said that companies have been shying away from the primary [...]

Canada and India in 10 joint R&D initiatives

by Jo Black

Indian minister, Kapil Sibal and David Emerson, Minister of Foreign Affairs & International Trade and Minister for the Pacific Gateway has announced 10 joint research and development (R&D) initiatives involving Canadian and India companies and researchers valued at more than $17 million.
Eight of the initiatives are joint research projects while the other two initiatives [...]

Tuesday, June 24, 2008

CII President to lead Mission to UK

by Jo Black

Mr. Kamath, President, Confederation of Indian Industry (CII) and Managing Director and CEO, ICICI Bank Ltd, is leading a 13 member delegation as part of the CII CEO’s Mission to the United Kingdom on 19-20 June 2008, with the aim of augmenting trade ties between India and the United Kingdom and exploring opportunities for catalysing [...]

India’s commodity market to grow 30% by 2010

by Jo Black

The Indian commodity market which expanded by 50 times in a span of 5 years from Rs.665.30 billion ($16.6 billion) in 2002 to Rs.33753.36 billion ($843.8 billion) in 2007, is now expected to grow at a steady speed of about 30% by 2010 and touch a volume of Rs.74156.13 billion ($1853.9 billion) since people’s participation [...]

India’s inflation rises to 8.75%

by Jo Black

India’s inflation touched 8.75 per cent for the week ending May 31, leading to fears that it is inching towards double digits for the first time in 13 years.
Inflation was measured at 5.09 per cent during the corresponding week last year.
Costlier food and vegetables mainly accounted for 0.51 per cent increase in inflation from [...]

IIP fall is temporary, says ASSOCHAM

by Jo Black

The Associated Chambers of Commerce and Industry of India (ASSOCHAM), the highest body of the Chambers of Commerce of India, predicts that the fall in Indian Industrial Production is temporary.
The ASSOCHAM President, Mr. Sajjan Jindal has said that higher input and borrowing costs coupled with global slowdown caused slippages in Industrial Production, which fell to [...]

CII delegation to visit Kazakhstan

by Jo Black

The Confederation of Indian Industry (CII), a non-government, not-for-profit, industry managed organization, which plays a proactive role in India’s development process, is sending a 15 member delegation to Astana – Kazakhstan.
This is the second CII Delegation to visit Kazakhstan.
The high level delegation headed by Mr. Syamal Gupta, member CII National Council and Chairman TATA [...]

India and Syria reach tax agreement

by Jo Black

The Indian federal government has approved the agreement signed between India and the Syrian Arab Republic for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion in relation to taxes on income.
The Double Taxation Avoidance agreement will stimulate the flow of investment, technology and services from India to Syria and vice versa. [...]

RBI hikes repo rate by 25 bps to 8%

by Jo Black

India’s central bank, the Reserve Bank of India (RBI) on 11 June raised the repo rate by 25 basis points to 8 per cent from the existing 7.75 per cent, but kept the reverse repo rate unchanged at 6%. The bank rate too remains steady at 6%.
This is the first increase in the repo rate [...]

Monday, June 23, 2008

Indian government looks into fiscal health of oil companies

by Jo Black

Indian federal government has constituted a high powered committee to examine the financial position of oil companies.
The committee have three members which includes, Mr. B.K. Chaturvedi, Member, Planning Commission, Dr. Saumitra Chaudhuri, Member, EAC, and Dr. Arvind Virmani, Chief Economic Advisor
The committee has been formed to examine the impact of the increase in oil [...]

Indian telecom sector on rise

by Jo Black

A recent study conducted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), which is highest body of the Chambers of Commerce of India, has revealed that the Indian states of Bihar and Madhya Pradesh have registered growth in telecom subscription.
According to ASSOCHAM Eco Pulse (AEP), the state of Bihar registered the maximum [...]

BSE sensex closes below 15k

by Jo Black

The Bombay Stock Exchange (BSE) benchmark Sensex closed below the 15k mark on Tuesday 10 June after losing over 700 points in the previous two sessions.
The sensex lost 176 points to close at 14,889 and the Nifty index lost 51 points to close at 4,449.
After hitting the 2008 lows and breaching the previous [...]

India and South Africa to enhance bilateral trade

by Jo Black

Despite the substantial increase in bilateral trade, India and South Africa believe the current volumes are much below the potential.
During an interactive session organized by the Confederation of Indian Industry (CII), in New Delhi, both sides agreed to cooperate each other.
While India has sought African cooperation to increase agriculture production and tap alternative [...]

Indian Railway registers 19.85% earnings growth

by Jo Black

Indian Railways has registered an increase of 19.85 per cent on originating basis earning during 1st April - 31st May 2008.
It earned Rs. 133.372 billion ($3.33 billion) during the period as compared to Rs. 111.2595 billion ($2.78 billion) during the same period last year.
The total goods earnings, registered an increase of 23.54 per [...]

Adverse political implications of petro price hike unlikely

by Jo Black

Unlike in the past, over 90% of CEOs interviewed by the apex industry body- the ASSOCHAM - on the hike in petrol and diesel prices offered virtually no resistance, but the common man on street feels ignorant about exorbitant crude oil prices in international market and is of the view that increase in LPG cylinder [...]

Friday, June 20, 2008

Orissa state to attract huge investment

by Jo Black

India Inc. lined up investment plans of almost Rs. 920.35 billion ($23 billion) in Orissa during Jan-Mar 2008, with Rs. 450 billion ($11.25 billion) flowing to steel sector alone, state the readings of ASSOCHAM Investment Meter (AIM).
According to the AIM study on “Statewise Investments”, Orissa topped the chart claiming almost 30 per cent of [...]

Railways to absorb impact of diesel price hike

by Jo Black

Indian Minister of Railways, Mr. Lalu Prasad has categorically stated said that in the wake of the recent diesel price hike, the Indian Railways will not pass the Railways’ additional financial burden on to its users – both Railway passengers and freight customers.
Lalu Prasad pointed out that Indian Railways consume 2.27 billion litres diesel [...]

Petrol prices hike a sensible decision

by Jo Black

The President of ASSOCHAM, Mr. Sajjan Jindal has welcomed the decision of the government to raise the prices of petrol and diesel by Rs.5 ($0.12) and Rs.3 ($0.07) a litre respectively, appealing to all stakeholders including political parties not to take undue advantage of the price rise.
The Chamber also welcomed the price rise in [...]

« Previous Page — Next Page »