Category: Other
‘s Sebi proposes new regulations for investment advisors
MUMBAI, Dec 29 (Asia Pulse) – Indian market regulator Sebi has proposed new rules for investment advisors that will require them to be registered with a self-regulatory organisation (SRO) before undertaking such a role. The services will include financial advice, financial planning service and actions which would influence an investment decision. Besides, representatives of investment […]
Hedging Cost
Dec 29, 2011 (LBO) – A Singapore arbitrator has ordered Citibank to pay Sri Lanka’s state petroleum refiner 2.5 million US dollars as legal fees in an oil hedging deal dispute, a statement said. The arbitrator in August 2011 voided an oil hedging deal between Ceylon Petroleum Corporation and Citibank, rejecting the bank’s demand for […]
Sri Lanka India fishing dispute talks in Jan
Dec 29, 2011 (LBO) – Sri Lanka and India will hold talks on resolving a fishing dispute which escalated after the end of a 30-year war, when a joint working group meets in January. Fisheries minister Rajitha Senaratne said Sri Lanka will hold talks with an Indian delegation made up of state and central government […]
India FDI drops 50-pct to billion dollars in Nov
NEW DELHI, Dec 28 (AsiaPulse) – Reflecting the economic slowdown in the world’s major economies, foreign direct investment into India dipped by over 50 per cent to US$1.16 billion in October for the second month in a row. The country had received US$2.33 billion overseas investment in the same month last year. In September, the […]
Indian job market forecast to see slower hiring activity
NEW DELHI, Dec 27 (Asia Pulse) – The Indian job market is expected to see slower hiring activity, but double-digit salary hikes next year as employers are embracing a “cautiously optimistic” approach amid the economic uncertainty. However, apprehensions are high that the economic slowdown and declining industrial output could seriously affect the hiring plans of […]
Sri Lanka plans remote aerial, underwater marine research
Dec 27, 2011 (LBO) – Sri Lanka’s marine researchers are planning to use aerial and underwater unmanned vehicles with remote sensing technology to study the oceans around the country, officials said. Sri Lanka’s National Aquatic Research Agency (NARA) wants to team up with the island’s air force to use unmanned aerial vehicles (UAVs) for marine […]
Indian growth projected at 7.6-pct for 2011: RBI Gov
VIJAYAWADA, (AsiaPulse) – Reserve Bank of India Governor D Subbarao said the economic growth rate for the current fiscal year is projected at 7.6 per cent as against earlier projections of 8 per cent. While hoping to tame down the inflation below 7 per cent by the year end, Subbarao said he was not sure […]
Falling rupee lifts Indian PC prices
NEW DELHI, Dec 23 (AsiaPulse) – Indian computer maker HCL INFOSYSTEMS has increased prices of desktops, laptops and servers by 10-15 per cent September onwards, as the depreciating rupee has pushed up its imports bill. “The hike has been gradual, we have had to increase prices from September onwards,” HCL Infosystems CEO Harsh Chitale told […]
‘s banks face risks from low growth, fiscal deficit
MUMBAI, Dec 23 (Asia Pulse) – India’s banking system has weak spots such as decelerating growth and a growing fiscal deficit which need to be addressed, a Reserve Bank report says. Rupee has weakened nearly 18 per cent since January and is currently trading at Rs 52.65 against dollar. The other major challenge before the […]
India may give sugar producers more freedom from state control
NEW DELHI, Dec 23 (AsiaPulse) – Noting that sugar industry would be a priority under the food bill, Indian Food Minister K.V Thomas on Wednesday said the government will consider the demand for partial decontrol of the sector after Parliament session. Making a demand for removal of levy sugar, ISMA President Narendra Murkumbi pointed out […]
Sri Lanka in sand nourishment to prevent sea erosion
Dec 23, 2011 (LBO) – Sri Lanka will use sand nourishment to shore up defences against sea erosion in Marawila, a fishing and tourism area north of the island’s capital, information minister Keheliya Rambukwelle said. The coastal conservation agency estimated that 450,000 cubic meters of sand would be needed to nourish the beach. International bids […]
Kerala to tender deepwater port project in March
MUMBAI, Dec 21 (AsiaPulse) – The Indian state of Kerala plans to invite global engineering, procurement and construction bids for the Rs 7,800 crore Vizhinjam Port by March and expects the results of an environment impact assessment (EIA) study on the project to be out by June, a top state government official has said. “We […]