Category: South Asia

SINGAPORE, August 23, 2011 (AFP) – Most Asian economies have not done enough to provide good jobs and adequate social benefits for their people, despite rapid economic growth over 20 years, the Asian Development Bank (ADB) said Tuesday. “Now is the time for us to think seriously about these kinds of issues because it’s going […]

NEW DELHI, August 22, 2011 (AFP) – Indian Booker prize-winning author Arundhati Roy launched a scathing attack Monday on the “aggressive nationalism” behind the anti-corruption drive led by hunger-striking campaigner Anna Hazare. In a column entitled “I’d rather not be Anna” published in The Hindu newspaper, the novelist, essayist and rights activist condemned both the […]

NEW DELHI, August 20, 2011 (AFP) – There is no small irony in the fact that India’s Prime Minister Manmohan Singh, known for his probity and integrity, now finds himself fighting for political survival with an anti-corruption activist. When the Congress party won elections in 2004, its decision to name Singh as premier was partly […]

NEW DELHI, August 17, 2011 (AFP) – India’s graft-tainted government faced a growing crisis on Thursday, with the country rocked by mass anti-corruption protests that have pitted the prime minister against a popular hunger striker. Rallies continued late into the night across India on Wednesday in support of veteran campaigner Anna Hazare, 74, who remained […]

NEW DELHI, August 16, 2011 (AFP) – India’s annual inflation edged lower to 9. 22 percent in July, official data showed Tuesday, still far above the comfort level of the country’s central bank, which has been raising rates aggressively. Growing fears about the stuttering global economy have fuelled speculation among economists that the bank may […]

NEW DELHI, August 15, 2011 (AFP) – India’s embattled premier Monday used his Independence Day address from Delhi’s rain-drenched Red Fort to insist the government was taking “the strictest possible action” against corruption. Manmohan Singh, speaking from a bullet-proof enclosure in torrential monsoon rains, also said that inflation running at nearly 10 percent was a […]

MUMBAI, August 14, 2011 (AFP) – India’s real estate sector, which soared as the country’s economy took off and higher incomes led to increased demand, is facing turbulent times as interest rates push up the cost of home loans. A succession of rate hikes has prompted prospective buyers to delay purchases, with the situation having […]

Aug 11, 2011 (LBO) – India’s Religare Capital Market Limited (RCML) said a recent purchase of South Africa’s Noah Financial Innovation will be a base for further expansion in to the region. RCML chief executive Martin Newson says the South African acquisition is part of its emerging markets investment banking operations, “both in its own […]

NEW DELHI, August 10, 2011 (AFP) – Confidence has returned to India’s share market after it plunged to a 14-month low on the back of the latest global financial turmoil, the country’s finance minister said Wednesday. India’s benchmark Sensex index of 30 leading shares soared nearly 400 points in early trade as part of a […]

WASHINGTON, July 28, 2011 (AFP) – Australia’s defense minister on Wednesday urged a greater role in Asia for India, calling the world’s largest democracy a positive force in a region where attention has long been focused on China. Defense Minister Stephen Smith made his appeal in Washington one week after US Secretary of State Hillary […]

NEW DELHI, July 28, 2011 (AFP) – US auto giant Ford said Thursday it would invest $1 billion to build a second vehicle assembly and engine plant in India as it ramps up production to exploit the country’s burgeoning car market. India has become a battleground for global car manufacturers such as Ford, GM and […]

MUMBAI, July 26, 2011 (AFP) – India’s central bank hiked interest rates by a higher-than-expected 50 basis points on Tuesday, its 11th increase since March 2010, as it struggles to combat near double-digit inflation. The Reserve Bank of India (RBI) raised its repo rate at which it lends to commercial banks to 8.0 percent and […]