Asian Lite News Archive

Category: Economy

  • Fate of rupee under Modi

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    Vatsal Srivastava in his column Currency Corner says theme for rupee still remains gradual depreciation  It has nearly been a month since the historic BJP electoral sweep. We have seen equities climb to record highs on expectations that the Modi government led reforms will finally unlock India’s true economic potential. Mid-cap and small-cap stocks have outperformed blue chips…

  • China set to boost growth

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    China has announced new measures aimed at bolstering its economic growth. These include plans to build railways, roads and airports along the Yangtze River – which connects China’s less developed inland provinces to Shanghai.China says development of a multi-tier transport system along Yangtze river will help integrate lesser developed region with developed ones, says a…

  • Recession hits Europe, America

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    The economic crisis in Europe and North America led to more than 10,000 extra suicides, according to figures from UK researchers. A study, published in the British Journal of Psychiatry, showed “suicides have risen markedly”. The research group said some deaths may have been avoidable as some countries showed no increase in suicide rate, BBC…

  • India’s exports jump

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    India’s exports jumped by 12.4 percent to $27.99 billion in May, the sharpest rise in six months helped by a weaker rupee, government data showed Wednesday. Exports had increased by 5.26 percent to $25.63 billion in April year-on-year. A weaker rupee had its impact on imports also which fell by 11.41 percent to $39.23 billion…

  • India set to grow at 5.5 percent

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    The World Bank projected India’s growth at 5.5 percent in fiscal 2014-15, accelerating to 6.3 percent in 2015-16 and 6.6 percent in 2016-17 as it urged developing countries to double down on domestic reforms. Subdued manufacturing activity and a sharp slowing of investment growth in India led to GDP growth in South Asia as a…

  • Modi brought winds of change: China

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    China pushed for increased economic cooperation with India and to be included in the country’s burgeoning infrastructure and manufacturing story through investments as Chinese Foreign Minister Wang Yi Monday touched base with Indian Prime Minister Narendra Modi, and said the new Indian government has “brought a new wind of change”. Wang, who has come as…

  • Modi to focus on skill and speed

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    India needs to focus on skill, scale and speed to compete with China, Prime Minister Narendra Modi said on Sunday, drawing a link between the colours in the national flag to the revolutions the country needed for its future growth. Releasing a book, “Getting India Back on track – an action agenda for reform”, at…

  • Gov takes stock of current price situation

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    The government  on Saturday reviewed its preparedness to deal with price rise in case of a probable deficient rainfall this year. A committee of secretaries, headed by the Cabinet Secretary Ajith Seth, reviewed the current price situation and preparedness for a probable impact of a deficient monsoon on prices of essential commodities. “The cabinet secretary…

  • IMF warns UK over house prices

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    British Chancellor George Osborne’s Help to Buy mortgage guarantee scheme may need to be shut down early, the International Monetary Fund warned. In its annual UK economic health check, the Washington-based institution warned that rising house prices threatened to trigger a new surge in household debt that could destabilise the recovery, and said the Bank of…

  • Jaitley begins budget talks

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    Finance Minister Arun Jaitley on Thursday began consultations with various stakeholders ahead of the final national budget to be presented next month, in the first such exercise both for him and the Narendra Modi government. The finance minister first met with representatives of the farm sector, including noted agriculture scientist and technocrat M.S. Swaminathan, and…

  • India relaxes rupee remittance limit

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    The Reserve Bank of India has relaxed some of the foreign exchange regulations it had introduced last year following a sharp decline of Indian currency. Under the revised rules the RBI has raised the annual investment ceiling for individuals to $125,000 from $75,000. In last August the RBI had reduced the ceiling from $200,000 to $75,000 per…

  • KSA to excavate 500,000oz of gold

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    Saudi Arabian Mining Company ( Maaden ) is planning to excavate 500,000oz of gold across the Kingdom, including in Madinah region, announced its president and CEO Khalid Al-Mudaifer at the Mining Investment Opportunities Forum . According to a report in the Saudi Gazette 2014, he said Maaden is also considering introducing downstream operations to the…

  • Oman minister meets Modi, Sushma

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    Oman Foreign Minister Yousuf Bin Alawi Bin Abdullah, the first foreign dignitary to visit India since the Narendra Modi government came to power, met the prime minister Narendra Modi , as also External Affairs Minister Sushma Swaraj, and discussed ways to boost trade and investment between the two countries, reports IANS. Abdullah, special envoy of…

  • RBI likely to hold interest rates

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    The Reserve Bank of India (RBI) is likely to keep interest rates unchanged when it reviews its monetary policy Tuesday as its first major exercise after the installation of the new union government. Known for his anti-inflation stance, RBI Governor Raghuram Rajan had kept the policy rate unchanged at eight percent in its April 1…

  • US looks for more trade with India

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    With a new Indian government in place, key areas of growth and business opportunities in the US-India commercial and business partnership have been highlighted by trade bodies of the two countries. ‘Growing Opportunities for US-India Trade and Investment’ were highlighted at a seminar organised by the Confederation of Indian Industry (CII) and the Indo-American Market…

  • India records 4.7% growth

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    India’s economy expanded at 4.7 percent in the entire 2013-14 financial year, marking a second straight year of below 5 percent growth, official data released showed. The expansion was slower than an official estimate of 4.9 percent and higher than 4.5 percent growth a year earlier. This is the second consecutive year of below five percent…

  • India to build 100 smart cities

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    The NDA government would kick-start building 100 smart cities, as envisaged in the BJP’s poll manifesto, union Urban Development Minister M. Venkaiah Naidu said. “Our mission is to build 100 smart cities across the country with GIS (Geographic Information Systems)-based town planning, using the latest technology and infrastructure, integrated waste management and advanced transport system,”…

  • Can China help Modi succeed?

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    China alone can help Narendra Modi translate his election promises to build a strong India into reality, a commentary in a Chinese newspaper said . The China Daily analysis of Modi’s election victory also said New Delhi and Beijing could share information on terrorist groups in the region and launch joint operations against them. Saying…

  • Cameron to focus on economy

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    Prime Minister David Cameron will face the 2015 elections on his economic credentials, Asian Lite can reveal. As the party lost about 180 seats in the local councils to Ukip and Labour, the Tory leader in a message to its members and supporters said the future of Britain is safe in his hands. The prime…

  • India Inc. Congrats Modi

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    Narendra Modi is set to become India’s 14th prime minister as the BJP registered a spectacular victory in the Lok Sabha elections. Here is what prominent industry representatives and analysts say on the BJP’s historic victory: Ajay Shriram, President, CII:  The outcome of the eneral elections reaffirms India’s vibrant and dynamic democracy and would greatly…