Kuwait: Kuwait's top court on Sunday ordered the dissolution of parliament and called for fresh elections, officials in the US-allied Gulf Arab said.
The Constitutional Court made its ruling after throwing out an opposition challenge to changes to the electoral system decreed by the emir, hereditary ruler of the oil-exporting country, head judge Youssef al-Mutawa told reporters.
The case has international importance because political stability in Kuwait, owner of more than six percent of global oil reserves, has traditionally depended on cooperation between the government and the elected parliament, the oldest and most powerful legislature in the Gulf Arab states.
Kuwait sits in a strategic position between Saudi Arabia and Iraq and across the Gulf from Iran....
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06:52 AM, Jun 17, 2013
Vienna: Britain has stepped up efforts to let India join an influential global body controlling nuclear exports, a move that would boost New Delhi's standing as an atomic power but which has faced resistance from China and other countries. The diplomatic tussle centres on whether emerging power India should be allowed into a key forum deciding rules for civilian nuclear trade, even though it has refused to join an international...
06:20 AM, Jun 15, 2013
New Delhi: The Finance Ministry on Monday said the government could take more steps to reduce gold imports, which may include banning sale of the yellow metal by banks. "More steps will have to be taken to reduce gold imports. Export import policy on gold will have to be reviewed. May consider banning gold coin sale by banks," Department of Economic Affairs Secretary Arvind Mayaram said. He was talking to...
08:07 PM, Jun 03, 2013
Kolkata: India's current account deficit, which was around 5 per cent of the country's gross domestic product (GDP) last fiscal, is expected to decline to 4.5 per cent this fiscal, rating agency ICRA said on Tuesday. "This is based on the expectation that incentives announced by the government of India would provide a limited boost to non-oil, non-jewellery merchandise exports and lower crude oil prices would dampen growth of oil...
04:54 AM, May 29, 2013
New Delhi: Rattled by India's sharp cut in purchase of its oil, Iran has offered oilfields on lucrative terms, routing gas pipeline through sea to avoid Pakistan and insurance to refiners provided New Delhi raised oil imports. Iran mounted a high-level delegation led by its Oil Minister Rostam Ghasemi to impress upon New Delhi to raise oil purchases, which were cut to 13.3 million tons in 2012-13 from 18 million...
10:58 AM, May 28, 2013
Mumbai: With gold imports putting pressure on the current account deficit, the Reserve Bank on Monday imposed restrictions on import of the yellow metal by banks. "To moderate the demand for gold for domestic use, it has been decided to restrict the import of gold on consignment basis by banks, only to meet the genuine needs of exporters of gold jewellery," the RBI said in a statement. As per a...
03:36 PM, May 13, 2013
New Delhi: Country's merchandise exports grew by 1.6 per cent to $24.16 billion in April this year, whereas imports increased by 10.9 per cent. Imports during the reported month stood at $41.95 billion. Exports in April 2012 stood at $23.7 billion, while imports were at $37.8 billion. Due to high imports, the trade deficit rose to $17.8 billion, Commerce Secretary SR Rao told reporters on Monday. Rao attributed the widening...
01:45 PM, May 13, 2013
New Delhi: The country's agricultural and allied product exports have increased by 11 per cent to USD 33.54 billion in the 2012-13 fiscal, Parliament was informed on Tuesday. "India's export of agricultural and allied products have increased from USD 29.8 billion in 2011-12 to USD 33.54 billion in 2012-13," Minister of State for Agriculture Tariq Anwar said in a written reply to the Lok Sabha. Currently, global prices of wheat,...
04:59 PM, May 07, 2013
New Delhi: India expects total monsoon rainfall to be average in 2013, a minister said on Friday, strengthening prospects for one of the world's biggest grains producers to avoid widespread drought for a fourth straight year. India's first official forecast confirms a call by global experts last week, and points to bumper grain supplies that would swell huge current stockpiles and hold down world food prices. "Most likely this year's...
04:59 PM, Apr 26, 2013
New Delhi: India's exports during 2012-13 declined 1.76 per cent to $300.6 billion mainly on account of slowdown in the global economy, Commerce and Industry Minister Anand Sharma said in New Delhi on Thursday. The declining exports have also pushed up the trade deficit during the fiscal to $190.91 billion from $183.4 billion in the previous financial year, he said while addressing a press conference to announce the annual supplement...
12:22 PM, Apr 18, 2013
Berlin: Notwithstanding severe economic sanctions slapped by the US and UN against Iran, India will continue to buy oil from "vital supplier" Iran, Foreign Secretary Ranjan Mathai said on Thursday. "We will continue to buy oil from Iran," Mathai said adding that the recent decline in oil import from Iran was due to logistics and banking problems and not because of any other reason. Mathai, who is part of the...
10:17 PM, Apr 11, 2013
Two and three wheeler maker TVS Motor Company has reported a 8.18 per cent decline in sales in March to 1,67,583 units as against 1,82,527 units in the same month in 2012. The city-based company witnessed a fall in two-wheeler sales to 1,62,507 units from 1,80,274 units in March, 2012, TVS Motor said in a statement. ...
12:57 PM, Apr 01, 2013
Government's plans to set up a fund to back local insurers providing cover for refiners processing Iranian oil after companies warned they would be forced to halt imports from the sanctions-hit nation, the federal oil secretary said on Sunday. ...
05:47 PM, Mar 24, 2013
China has become the world's fifth largest exporter of major conventional arms buoyed by Pakistan's growing import from its communist ally, even as India emerged as the leading buyer of weapons, a Swedish think tank said on Monday. ...
05:46 PM, Mar 18, 2013
China has become the world's fifth-largest arms exporter, a respected Sweden-based think tank said on Monday, its highest ranking since the Cold War, with Pakistan the main recipient. ...
11:54 AM, Mar 18, 2013
India has tightened its export control norms to prevent sensitive technologies and materials falling in hands of terrorists, thus making a strong case for its membership to key multilateral export control regimes. Asserting that the new norms were more stringent than those practiced by the members of Nuclear Suppliers' Group (NSG) and Missile Technology Control Regime (MTCR), Foreign Secretary Ranjan Mathai said these will be notified soon. ...
05:53 PM, Mar 13, 2013
India's February exports rose 4.25 per cent from a year earlier to $26.3 billion, while imports rose 2.6 per cent to $41.2 billion, leaving a trade deficit of $14.9 billion, trade ministry officials said on Monday. ...
12:55 PM, Mar 11, 2013
Iran's oil export revenues are helping Indian rice exporters to claw back some of the lucrative business lost to cross-border truckers in Pakistan as a result of Western sanctions. ...
03:43 AM, Mar 09, 2013
A CBI special court on Friday permitted the investigation agency to interrogate former Karnataka minister and mining baron Gali Janardhana Reddy and five other accused in the case of multi-crore iron ore exports scam from Belekeri port on the state's west coast. ...
02:34 AM, Mar 09, 2013
India's offer of an extra 5 million tonnes of wheat for export direct to private traders is at too high a price, traders said, undermining its own efforts to avoid rotting stocks and make room for the new harvest. ...
04:38 AM, Mar 08, 2013
