Category: South Asia

NEW DELHI, (Asia Pulse) – Rating agency Fitch said that India’s partial lifting of a ban on cotton exports has led to uncertainty over prices and time of purchasing of the natural fibre by the domestic textile companies. “This uncertainty on cotton price movements could over the long term increase raw material price risk and […]

NEW DELHI, March 15 (AsiaPulse) – Two Dubai-based Iranian private traders have defaulted on payment of Rs 184 crore (US$36.8 million) to nine Indian rice exporters, Parliament was informed Wednesday. There have been payment issues between India and Iran after sanctions imposed by the US. Iran mainly imports basmati rice from India. “Embassy of India, […]

NEW DELHI, March 14 (AsiaPulse) – India’s Department of Telecommunications plans to start auction of 2G spectrum by December 20 and allocate spectrum to players in March next year. “We will need time at least till December 20 to start auction of spectrum. There are various processes before it and will have to stick to […]

NEW DELHI, March 8 (AsiaPulse) – Chennai-based Tractors and Farm Equipment Ltd (TAFE) has entered into an alliance with Captain Tractors Pvt Ltd (CTPL) to develop and manufacture compact tractors in the sub-20 horsepower segment. “Through this alliance, TAFE aims to offer a complete range of products to the farming community of India,” TAFE Chairman […]

NEW DELHI, March 5 (AsiaPulse) – Car-maker Volkswagen on Thursday posted a 7.74 per cent decline in its sales in India at 6,529 units for February. The company had sold 7,077 units in the corresponding period last year. Compact car ‘Polo’ and sedan ‘Vento’ continue to be the backbone for the brand, with a total […]

MUMBAI, (Asia Pulse) – India’s diversified Adani Group said it will invest US$6 billion in overseas expansion by 2015, mainly in Australian mining and related assets. “We will be investing US billion into our overseas assets (spread in Australia and Indonesia) by 2015,” group Chairman Gautam Adani told reporters here after unveiling a new corporate […]

NEW DELHI (Asia Pulse) – The Indian Finance Ministry has written to all public sector banks asking them to ensure profits are not overstated and to make appropriate provisions for bad loans. In a letter to heads of public sector banks, the Finance Ministry said “instances of over-reporting of profit have been continuing year after […]

NEW DELHI, Feb 10 (Asia Pulse) – The Indian government has discontinued a practice of releasing food inflation data every Thursday. “Consequent upon the decision of the Cabinet Committee on Economic Affairs (CCEA) held on January 24, 2012, weekly release of Wholesale Price Index (WPI) for the commodities items under the Groups ‘Primary Articles’ and […]

Feb 07, 2012 (LBO) – Maldivian President Mohamed Nasheed has resigned, news reports said. Hundreds of police started demonstrating early Tuesday in the capital, Male, after officials ordered them to withdraw protection for government and opposition supporters protesting close to each other, the AP news agency said. The withdrawal resulted in a clash that injured […]

MUMBAI, Feb 2 (AsiaPulse) – US-based private-equity firm Carlyle Group on Wednesday reduced its stake to about 4 per cent in leading Indian mortgage company HDFC (BSE: 500180). Carlyle had 5.22 per stake in HDFC. The private equity firm sold about 1.3 per cent stake in the company through open market transaction, sources said. The […]

MUMBAI, Feb 1 (Asia Pulse) – Buoyed by an over 11 per cent increase in foreign tourist arrivals in 2011, which was a bad year for the global tourism industry given the bleak economic environment, Kerala is on a marketing blitz to attract more travellers from the Middle East and Down Under. “We plan to […]

NEW DELHI, Jan 30 (Asia Pulse) – American quick service restaurant brand QUIZNOS is expanding in India with plans to set up around 150 outlets in the northern and western regions of the country in the next five years. Quiznos, which has entered into a master franchise agreement with Delhi-based restaurant management company Sub-one Hospitality […]