New Delhi: Surging capital inflows, booming stock markets and a fast-appreciating currency suggest the India story is again shining after a dismal 2011. Dig a little deeper, and problems afflicting Asia's third-largest economy remain largely unabated and unaddressed. Inflationary risks remain and a political logjam continues to hem in reforms, clouding the economic outlook. "Nothing has happened on the policy front to justify this mood," said Andrew Kenningham, an economist...
11:16 PM, Feb 11, 2012
Washington: President Barack Obama will set out a budget on Monday designed to slash the deficit while investing in infrastructure, education and scientific research " but most of his plans have little chance of becoming law. According to senior administration officials, the president's budget will cut the deficit from a forecast 8.5 per cent of gross domestic product this year, to 5.5 per cent of GDP in the next fiscal...
11:12 PM, Feb 11, 2012
Male: Political instability in Maldives might have tarnished a bit of the country's image as the tropical tourist paradise but everyone in the island nation is keeping their fingers crossed. Maldives known for its deep blue seas, turquoise reefs, white sandy beaches and palm trees attracts several lakh tourists every year, more than its total population of about 3.5 lakh. Even though the unrest this week following the ouster of...
01:53 PM, Feb 11, 2012
Beijing: Chinese imports fell sharply in January, a sign of sluggish domestic demand that will fuel concerns about whether the fragile global economy can count on China as a bastion of growth. Adding to the grim picture, China's exports also dipped last month as its companies felt a chill wind from Europe's debt troubles. Exports fell 0.5 per cent year on year, the first decline since late 2009. Imports plunged...
02:00 PM, Feb 10, 2012
Could the depressed state of the Indian economy put off foreign investors and could the 2G judgement then add to their concerns? ...
09:13 PM, Feb 08, 2012
New Delhi: The economic growth is likely to fall to a three-year low of 6.9 per cent in 2011-12, mainly due to sharp slowdown in manufacturing, agriculture and mining sectors, against 8.4 per cent expansion in the last fiscal. Agriculture and allied activities are likely to grow at 2.5 per cent in 2011-12, compared to a robust growth of 7 per cent in 2010-11, according to the Advanced Estimates released...
11:51 AM, Feb 07, 2012
Mumbai: The market snapped five-day winning streak on Tuesday, weighed down by capital goods, metals, auto stocks and heavyweights Bharti, Infosys & SBI. However, buying in oil & gas and private banks limited the downside. The Nifty closed below the 5350 level, falling 26.5 points to 5,335.15. Meanwhile, the Sensex dropped 85.11 points, to close at 17,622.20. Devangshu Datta, Consulting Editor at Outlook feels the market is not likely to...
09:40 AM, Feb 07, 2012
Mumbai: India is facing challenges to keep its stable rating outlook with high inflation, weak fiscal position and slower economic growth weighing, Standard and Poor's rating service said on Monday. "The balance of risk factors for the sovereign credit rating may be shifting slightly toward the negative," S&P, which has an investment grade BBB- rating with a stable outlook on India, said in a report. India has been grappling with...
03:27 AM, Feb 07, 2012
Washington: US President Barack Obama has said country's economy is growing strong and recovery is speeding up. Obama's remarks on the state of the economy came hours after latest report showed that unemployment rate has dropped to 8.3 per cent as added more than 2.4 lakh new jobs in January. "This morning, we received more good news about our economy. In January, American businesses added another 257,000 jobs. The unemployment...
08:53 AM, Feb 04, 2012
Bahraich/Gonda: Uttar Pradesh Chief Minister Mayawati on Friday attacked the Congress for its "wrong" economic policies, saying they had led to problems of poverty and unemployment and forced people to move out to other states in search of livelihood. Addressing election meetings, Mayawati said people in search of jobs in UP are forced to shift to Congress-ruled states, where they have to face discrimination from the respective state government. Accusing...
04:11 AM, Feb 04, 2012
Washington: Having already seen its effects on private investment, any further deterioration in the economic situation of Europe has the potential to hit the Indian economy, including a drop in exports, an International Monetary Fund (IMF) official has said. "I think it is also clear that in India, as in other economies, demand for exports would certainly be hit, and certainly for India, we've already seen effects on private investment,"...
11:39 AM, Feb 03, 2012
Mumbai: Overseas investments by Indian companies stood at $ 797 million in January, with Tata Group, infrastructure major IL&FS and pharma major Lupin emerging as major investors. As many as 418 overseas investment transactions were carried out by various companies last month. However, outbound foreign direct investment (FDI) in the month of January was over 45 per cent less than the $ 1.46 billion figure during December 2011, according to...
07:57 PM, Feb 02, 2012
Mumbai: The rupee touched its highest level against the dollar in nearly three months on Wednesday, supported by strong dollar inflows and a recovery in the local stock market. At 4:34 pm (1104 GMT), the rupee was at 49.27/28 to the dollar after touching 49.26, a level not seen since November 8. It closed at 49.44/45 on Tuesday. ...
05:16 PM, Feb 01, 2012
New Delhi: The Indian government on Tuesday revised economic growth for 2010-11 down to 8.4 per cent from the earlier estimate of 8.5 per cent. "The Gross Domestic Product (GDP) at factor cost at constant prices in 2010-11 has registered a growth of 8.4 per cent over the previous year," according to provisional data released by the ministry of statistics and programme implementation here. The finance ministry said in the...
03:35 AM, Feb 01, 2012
New Delhi: Amid signs of moderation in price rise situation in the country, the January inflation numbers are likely to drop below 7 per cent, said Chief Economic Adviser Kaushik Basu. "Inflation figures are going down. The January figure, which you will get in middle of February, my expectation is that it is going to be below 7 per cent ," he said. Basu, who also heads a Prime Minister...
07:05 PM, Jan 31, 2012
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