Category: South Asia

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 […]

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 […]

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 […]

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 […]

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 […]

NEW DELHI, Asia Pulse (LBO) – India’s market watchdog is probing the role of at least 25 newly-listed firms, which includes the holding company, certain brokers and merchant bankers. The Securities and Exchange Board of India (Sebi) is also probing the possibility of cartelisation among the company promoters, brokers and merchant bankers for rigging the […]

NEW DELHI, Dec 14 (AsiaPulse) – Tata Power (BSE:500400) said it has tied up funds for its 25-MW solar project in Gujarat, which is to see an investment of about Rs 365 crore (US$68.7 million). Tata Power has inked a Power Purchase Agreement (PPA) for the project with Gujarat Urja Vikas Nigam Ltd. (PTI) cg […]

NEW DELHI, Dec 7 (AsiaPulse) – Hospitality firm Fairmont Hotels and Resorts plans to operate about 40 hotels in India in the next five years across its three brands — Fairmont, Raffles and Swissotel. “In the next 5-6 years, our strategy is to operate up to six hotels under Raffles brand, about 8 to 12 […]

NEW DELHI, Dec 7 (AsiaPulse) – The Indian government is likely to award oil and gas blocks offered for bidding in ninth round of New Exploration Licensing Policy (NELP) by March next year, eight months behind schedule. “Some blocks (offered in NELP-IX) were held up due to security issues. By March next year, most of […]

NEW DELHI, Dec 2 (AsiaPulse) – Confirming a slowdown, India’s economic growth rate slipped to 6.9 per cent in the second quarter this fiscal year, the lowest in nine quarters, prompting the government to lower its full-year growth projection to 7.3 per cent. Economic growth during the July-September period of 2011-12 fell mainly due to […]

ISLAMABAD, (AsiaPulse) – China Green, considered that country’s biggest private agriculture company, is looking to buy 10,000 acres of farmland in Pakistan on lease to grow fruits and vegetables. Federal Minister for National Food Security and Research, Mir Israrullah Khan Zehri, held a meeting with a trade delegation of China Green. Zehri said that Pakistan […]

NEW DELHI, Nov 28 (AsiaPulse) – Moves by the Indian government to further reduce the export price of onion from US$350 a tonne stems from a steep 24 per cent decline in overseas shipments of the staple. India’s onion export has declined by about 213,000 tonnes during April to November 20 this year, agri-cooperative Nafed, […]