Category: South Asia

Sept 20, 2012 (LBO) – A 12 percent or five Indian rupees per litre hike in diesel in prices in will reduce India’s subsidy cost by 200 billion rupees in the year to March 2013, Standard and Poors’ said. India has also rationed the issue of subsidized liquefied petroleum gas to six 14.2 kilogram cylinders […]

June 22, 2012 (LBO) – International Finance Corporation, a member World Bank arm has said 86 percent of three million apparel sector workers in Bangladesh did not have bank accounts, potentially opening up a large new market for banks. “This report shows that there is a considerable opportunity in offering a range of financial services […]

June 04, 2012 (LBO) – An ‘India Show’ will be held in Colombo from August 3, coinciding with a visit bay Indian minister of commerce and industry Anand Sharma to the island to boost trade and investment amid currency trouble in both countries. The Indian High Commission (embassy) said more than 100 Indian firms are […]

May 22, 2012 (LBO) – The Maldives has seen a slight increase in the number of holidaymakers to the atoll nation in April, after political unrest kept tourists away earlier this year, official data showed Tuesday. The atoll nation, welcomed 79,288 visitors in April, a tad lower than 79,947 who visited the country in the […]

May 22, 2012 (LBO) – India’s rupee fell to a new low of 55.06 against the US dollar Tuesday after trading curbs were slapped on forward and swap markets. Earlier in May the central bank limited intra-day open positions of banks. Trimming open positions, especially overnight positions, which narrows the depth of forex markets can […]

April 18, 2012 (LBO) – Maldivian President Mohamed Waheed on Wednesday called for presidential elections to be held ahead of time, in July 2013, after his favourites won two by-elections over the weekend. Waheed, who is accused by his predecessor of seizing power in a military-backed coup, said Saturday’s elections confirmed the democratic credentials of […]

Apr 05, 2012 (LBO) – Cairn India Limited (CIL) said it has made a second oil discovery in a through its fully owned unit Cairn Energy India Pty Limited (CEIL) in an exploration block in Krishna-Godavari Basin on the east coast of India. CEIL is the operator of the block owning 24 percent of the […]

MUMBAI, March 29 (AsiaPulse) – Godrej Properties (BSE:533150) on Monday fixed the price for its issue of shares to institutional investors at Rs 575 a share, the lower end of the price band, and would raise up to Rs 471 crore (US$92.8 million) for reducing debt and acquiring projects. The share price fell by 3.38 […]

NEW DELHI, March 28 (AsiaPulse) – The Reserve Bank of India (RBI)’s recent guidelines for the gold loan sector will significantly moderate the growth and profitability over the next year, said a Crisil report. “Business growth is likely to fall from 80 per cent per annum to 20-25 per cent per annum and return on […]

PERTH, March 26 (Asia Pulse) – India will eventually take over from China as the main engine of growth for the iron ore market but its consumption will be less intense, an analyst says. Markets shuddered this week when BHP Billiton said Chinese demand for the steel making commodity was flattening. Compounding the new sober […]

NEW DELHI, (Asia Pulse) – Notwithstanding lifting of ban on cotton exports, Commerce Industry and Textiles Minister Anand Sharma has said India will not be able to ship the natural fibre abroad unless it has surplus. “… we will be in a position to export (cotton), when we have that surplus again,” he said at […]

NEW DELHI, (Asia Pulse) – As many as six Indian brands including — Tata, Airtel, State Bank of India, Reliance, Indian Oil Corporation and Infosys — have been named amongst the world’s 500 best brands this year by global consultancy firm ‘Brand Finance’. The Tata is the only Indian brand making it to the top […]