New Delhi: The government announced an inquiry on Friday into the functioning of the main drug regulator, just days after a parliamentary report exposed dysfunction within the agency and serious irregularities in the drug approval process. The government said in a statement that it had appointed three experts to look at the scientific basis of approving new drugs without clinical trials and recommend ways of improving the procedures of the...
02:13 PM, May 11, 2012
Manila: India has some leeway to get reforms back on track with its long-term growth prospects firm, Tom Byrne, a senior vice president of rating agency Moody's Investors Service, said on Wednesday. "There is no imminent funding crisis because of policy slippages," Byrne told reporters at the Asian Development Bank's annual meeting in Manila, explaining the rating agency's stable outlook for India. Standard & Poor's last week cut India's outlook...
10:21 AM, May 02, 2012
Mumbai: The Reserve Bank of India's battle to contain a falling rupee just got tougher. The current account deficit is widening and a weak global investment climate coupled with policy paralysis in New Delhi, sticky inflation and slowing growth have increased the aversion of foreign investors to India, pushing the capital account into the red. Last week's move by rating agency Standard & Poor's to cut the country's credit rating...
10:14 AM, May 01, 2012
Mumbai: The Reserve Bank of India's battle to contain a falling rupee just got tougher. The current account deficit is widening and a weak global investment climate coupled with policy paralysis in New Delhi, sticky inflation and slowing growth have increased the aversion of foreign investors to India, pushing the capital account into the red. Last week's move by rating agency Standard & Poor's to cut the country's credit rating...
01:12 AM, May 01, 2012
London: TV viewers in Britain have got their knickers in a twist over the sight of women dancing in bikinis and a big woman flashing her underwear in a cartoon advertisement. The 30-second promotion for insurance company confused.com has so far sparked 37 complaints from outraged members of the public who describe it being unduly sexual. Cartoon characters with large breasts in skimpy bikinis are shown jumping up and down...
10:53 AM, Apr 28, 2012
Mumbai: Standard and Poor's (S&P) lowered India's rating outlook to negative and warned of a downgrade in two years if there is no improvement in the fiscal situation and the political climate continues to worsen. Indranil Sengupta, chief economist India of BoAML doesn't think there is a case for downgrading India. According to him, rating agencies ultimately are a mirror of the reality. "So, to that extent, the S&P is...
12:37 PM, Apr 26, 2012
Ratings agency Standard & Poor's on Wednesday cut India's outlook to negative from stable, citing its large fiscal deficit and expectations of only modest progress on reforms given political constraints, battering stocks, bonds and the rupee. ...
08:45 PM, Apr 25, 2012
Rating agency Standard and Poor has revised India's outlook from stable to negative, sending shockwaves across the market. ...
02:55 PM, Apr 25, 2012
Mumbai: Ratings agency Standard & Poor's on Wednesday cut India's outlook to negative from stable, citing its large fiscal deficit and expectations of only modest progress on reforms given political constraints, battering stocks, bonds and the rupee. The lowered outlook jeopardises India's long-term rating of BBB-, which is the lowest investment grade rating. "The outlook revision reflects our view of at least a one-in-three likelihood of a downgrade if the...
12:29 PM, Apr 25, 2012
Beijing: US cafe giant Starbucks' Chinese subsidiary has admitted that it used a bug-based red dye in a few food products in their cafes in China, days after announcing plans to stop using the insect extract following an online campaign. The world's largest coffee-shop chain had said earlier this week that it plans to stop using an extract made of dried insects to colour some Frappuccinos and pastries and the...
10:20 PM, Apr 23, 2012
Neeraj Swaroop Age: 53 years Designation: Was regional chief executive, India & South Asia at Standard Chartered Bank. He is now the regional chief executive for South East Asia (excluding Singapore) Education: IIT, Delhi and MBA from IIM Career: Worked at Unilever, India, HDFC Bank and Bank of America Interests: Watching cricket, travelling, swimming Q. A lot of foreign banks have had issues in scaling up in India, but Standard...
08:42 AM, Mar 31, 2012
New Delhi: Army Chief General VK Singh has come under heavy fire over his letter to Prime Minister Manmohan Singh warning of ammunition shortages and obsolete weaponry in the forces. While Defence Minister AK Antony told the Rajya Sabha on Wednesday that publishing the contents of secret letters was not in the interest of the security of the country, there is a strong opinion in the Congress-led United Progressive Alliance...
12:22 PM, Mar 28, 2012
New Delhi: Army Chief General VK Singh had raised the sorry state of infrastructure in the armed forces in the country in a letter to Prime Minister Manmohan Singh dated March 12. General Singh had written that the Army's tank regiments lack ammunition to defeat the enemy, the air defence is almost obsolete and the infantry is falling short of critical weapons. He underlined that the country's security might be...
11:40 AM, Mar 28, 2012
Mumbai: Ailing national carrier Air India on Tuesday decided to import aviation fuel directly to save cost, apart from taking a bridge loan facility worth $ 195 million (about Rs 1,000 cr) from Standard Chartered Bank India for two of its 27 Dreamliners to be delivered to it shortly. "The Air India Board, which met here (Mumbai) today, has decided to import aviation fuel directly. Towards, it has been decided...
09:04 PM, Mar 27, 2012
Mumbai: The airport regulator's decision on a tariff hike proposal by the operator of Delhi's international airport may impact infrastructure projects as well as the civil aviation sector, Standard & Poor's Ratings Services said in a report on Tuesday. "In our view, higher tariffs could negatively affect the credit quality and resilience of some low cost airlines operating out of Delhi. Large international full service airlines may reduce the number...
03:53 AM, Mar 07, 2012
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