Asian Lite News Archive

Category: Investment

  • Greece crisis dent India’s foreign reserves

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    An appreciating dollar, coupled with international currency volatility due to Greece crisis, saw India’s foreign exchange reserves plunging by $237.5 million in the week ended June 26….reports Asian Lite News. Data furnished by the Reserve Bank of India (RBI) in its weekly statistical supplement, showed that India’s foreign exchange fell after three weeks of rise.…

  • Osborne to scrap inheritance tax for homes below £1million

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    The end of inheritance tax on family homes worth up to £1m will be announced by Chancellor George Osborne. He is expected to tell MPs  that the threshold at which the tax is levied will rise for couples from £650,000 after April 2017. Writing in The Times, PM David Cameron and Mr Osborne said those…

  • Modular buildings the solution to the UK’s housing crisis

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    Modular off-site building could be the key to solving the UK’s broken housing market, according to a new report by the Institution of Mechanical Engineers. The UK house building  manufacturing affordable quality homesreport is calling on Government to provide more incentives for the off-site construction of homes. The report also recommends that the Government reverse…

  • British manufacturing to remain slow: HSBC

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    Future manufacturing may remain sluggish in India due to declining output and new order flow, including from overseas and fall in order-to-inventory ratio while robust capital goods growth is a glimmer of hope, says HSBC Purchasing Manufacturers Index (PMI) released….reports Asian Lite News. India manufacturing PMI fell to 51.3 in June from May’s 52.6 as…

  • Birmingham airport urges Govt caution on Heathrow

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    Paul Kehoe, CEO of Birmingham Airport, has today urged the Government to take a cautious response to the Airports Commission’s recommendations, as regional airports like Birmingham Airport continue to thrive….reports Asian Lite News. The Airports Commission, led by Chairperson Sir Howard Davies, has spent the past three years looking into the future of UK aviation…

  • Mukesh Ambani commits millions for ‘Digital India’

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    Reliance Industries Chairman Mukesh Ambani committed an investment of Rs.250,000 crore on “Digital India” and said he expected the group’s initiatives under it will create over 500,000 direct and indirect jobs….reports Asian Lite News. “I believe digital India will be a huge success because of the adoption of technology by the youth of India,” Ambani…

  • Greek situation could hit West Midlands exports

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    Business leaders are warning that a Greek exit from the euro could hit demand for exports from the West Midlands…reports Asian Lite. Paul Faulkner , chief executive of Birmingham Chamber, said that although Britain’s level of direct exposure to Greece was relatively small, any ‘Grexit’ could lead to a slowdown in the EU economy. He said: “British…

  • Britain’s economy runs on fast track

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    Offical ONS figures reveal that economic growth also revised up for the first quarter of 2015 but separate figures show disposable income is still lower than in 2008…reports Asian Lite. ONS statistics reveal that Britain’s economy is growing even faster than previously thought, In the first three months of the year, the economy grew 0.4…

  • Airports commission backs third runway at Heathrow

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    The Airports Commission has backed a third Heathrow runway that will add close to £150bn in economic growth and 70,000 jobs by 2050. It would also connect Britain to 40 new destinations around the world. Downing Street officials say they want to digest the report properly, without making “a snap judgement”. Sir Howard Davies’s report said…

  • Greece in panic mode

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    The Greek government was preparing a last minute proposal for a debt repayment deal with international creditors to avert a countdown to default which may start on Tuesday evening, media reported. Government sources said solutions were still being sought as the country was heading to a referendum on July 5 over the proposal tabled by…

  • Modi to launch Digital India Week

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    Prime Minister Narendra Modi will launch the Digital India Week on July 1 here aiming to encourage involvement and creating awareness about the field, Communications and IT Minister Ravi Shankar Prasad said . “Many dignitaries will join us on that with their investment plans for the sector. We expect investments of billions of dollars from…

  • House prices in London racing ahead

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    House prices in London increased up to 32 per cent last year – leaving the rest of the country far behind in its wake. Every area of the country where property prices increased by over 20 per cent were in the capital, while areas in the north saw homes fall by almost a quarter in value. The figures,…

  • US Senate approves ‘fast-track’ trade bill

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    The US Senate  approved a so-called fast-track trade bill that empowers the president to negotiate trade deals, media reported . The bill will now be sent to President Barack Obama for signing. The 60 to 38 Senate vote capped weeks of fighting over the trade bill and gave a big push for the Obama administration’s…

  • Modi to launch Smart Cities Mission

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     Prime Minister Narendra Modi will  launch the Smart Cities Mission, Atal Mission for Rejuvenation and Urban Transformation (AMRUT) and Pradhan Mantri Awas Yojana (PMAY) which are all intended to enhance the quality of urban living and drive economic growth….Reports Asian Lite News. The central government has committed to spend about Rs.400,000 crore on these missions…

  • Small firms back PM’s bid to reform EU

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    Britain’s biggest business organisations will today urge David Cameron to secure EU reform. Mr Cameron rejected Tory calls to publish his demands for reform as he prepares to open negotiations with European leaders this week. And the British Chambers of Commerce (BCC) will today come out in support of the Prime Minister’s strategy reports Daily…

  • Facebook worth more than Walmart!

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    Believe it or not, Facebook is now worth more than the world’s largest retailer, Walmart. In just three years as a public company, Facebook has pipped Walmart in terms of net worth. Over the last year, Facebook’s stock has jumped roughly 30 percent and the climb has added more than $65 billion to its market…

  • Infosys investors up in arms

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     Many investors of global software major Infosys Ltd were up in arms against its board at the 34th annual general meeting here for various reasons. A woman investor from Mumbai grabbed the mike and shouted through vide-link that the board did not give female shareholders an opportunity to speak with its members at the AGM.…

  • Spain offers some smart ideas for India

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      By Rashmi Saksena   Prime Minister Narendra Modi´s headline-grabbing promise to build smart cities in India has attracted wide attention of experts in Spain’s principal city which hosts the International Smart City Expo every year. Barcelona has the distinction of being one of the world’s top 10 smart cities. The vast potential and unique challenges…

  • BRICS bank not to replace global institutions: Putin

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    By Hardev Sanotra  Russian President Vladimir Putin says that the BRICS Bank set up by five countries with a capital of $100 billion will not challenge the existing multilateral institutions…..reports Asian Lite News. Putin, who was interacting with a dozen visiting wire service reporters said, the intention behind the bank and the reserve currency pool…

  • Russian seeks tie-up on Indian high-speed rail

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    By Hardev Sanotra  Russian officials are in talks with their Indian counterparts to help the country set up high-speed railways projects, a top railway official said here. Vladimir Yakunin, president of Russian Railways, said they were keen to tie up with Indian Railways for the planned high-speed rail links, as the country has expertise in…

  • Jaitley assures foreign investors on reforms

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    Finance Minister Arun Jaitley has assured foreign investors on their concerns about the speed of India’s reforms process, as well as about an adversarial tax regime. “Concerns that the process of reforms must expedite, which we are trying to do. Concern at the stability of policy, which has been assured because the government’s movement is…

  • Trade missions aimed to boost UK exports

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    UK Trade & Investment (UKTI) is currently organising high-profile trade missions to Singapore and Malaysia, Turkey, Japan and Latvia…reports Asian Lite.   The mission to Singapore and Malaysia, from 25 July to 5 August, will include receptions and events organised by the British High Commission, while the visit to Turkey (11-15 October) – which is…

  • Silent revolution of Indian Railways

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    Amit Kapoor  The railways sector has seen some activity in the past few months. Not only are operational changes being brought about but a long-term strategic view seems to be in sight. The operation changes in ‘tatkal’ remuneration in respect to cancellation as well as the choice to upgrade to a domestic airline in case…

  • Kerala IT exports touch Rs.10,000 crore

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    With Information Technology exports from Kerala for the 2014-15 fiscal touching Rs.10,000 crore, time was ripe for ‘ghar wapsi’ (home return) of Kerala IT professionals working outside the state and the country, an official said…. reports Asian Lite News. IT exports from the southern Indian state grew from Rs.7,000 crore in 2013-14 to touch the…

  • Modi gets half a million postcards with ideas

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    Over 500,000 Indians have sent postcards to Prime Minister Narendra Modi under the the Action/2015 campaign of Nobel Laureate Malala Yousafzai, urging him to represent their voices at the UN General Assembly later this year ahead of sustainable development goals (SDGs) being adopted for the next 15 years….reports Asian Lite News. By Bhavana Akella  Thousands…

  • Ambani seeks early revision of gas prices

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    Reliance Industries sought an early revision of gas prices and urged the government to quickly resolve what it termed as “legacy issues” over its production-sharing contracts for discovered hydrocarbon….reports Asian Lite News. Pointing out that Reliance Industries was a pioneer in deep-water production of oil and gas, chairman Mukesh Ambani told shareholders here that the…

  • Mad rush to deposit in UK based Indian banks

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    UK based Indian banks have gatecrashed the best buy savings tables in recent months, with three major subcontinental banks dominating the top spots. Three Indian banks are topping the best savings rates tables With savings rates plunging to depressing lows – the average instant access account pays just 0.77% – foreign banks have grabbed the…

  • Man U ‘most valuable football brand’

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    English football club Manchester United was named the world’s most valuable football brand, replacing German club Bayern Munich, according to a report from consultancy Brand Finance….reports Asian Lite News Despite a season without any silverware, United have become the first billion dollar football brand, with 63 percent growth bringing the total brand value to $1.2…

  • Mumbai Coastal Road gets nod

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    The union environment ministry has given the ‘green’ signal for the proposed coastal road for Mumbai, Chief Minister Devendra Fadnavis said. Fadnavis made the announcement after a meeting with union Environment Minister Prakash Javadekar in New Delhi. “It’s a dream come true…Best gift to Mumbai by Modi government,” Fadnavis tweeted on what could be most…

  • Vizhinjam port plan will go ahead:Chandy

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    The Kerala government is committed and will go ahead with the proposed Vizhinjam port, Chief Minister Oommen Chandy said. Last month two different committees that looked into the only proposal submitted by Adani Ports for setting up of the Vizhinjam Port near Kovalam had given it the green signal. With the cabinet all set to…

  • The Royal Mint unveils Signature Gold

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      The Royal Mint  launched Signature Gold, a brand new addition to its bullion trading service, reports Asian Lite. Opening up the world of gold trading to everybody, Signature Gold guarantees customers full ownership over their gold, and the entry-level is just £20. Signature Gold allows customers to purchase and own a fractional amount of…

  • US requests Cuba to open its markets

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    The US Undersecretary of Commerce for International Trade Stefan Selig has invited Cuba to open its market and make reforms as part of the process of normalisation with the US at the inauguration of a conference on the island’s economic future. Selig said if Cuba opens its economy and begins the necessary reforms it will…

  • TASWEEK eyeing India’s ‘smart cities’

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    Dubai based TASWEEK Real Estate Development and Marketing, has announced that it is exploring the possibility of engaging in ‘smart city’ projects in India in collaboration with local partner MAMS Holdings Group, reports Asian Lite  one of the leading newspapers in UK read by British Asians. This is in support of Indian Prime Minister Narendra…

  • RBI marginally lowers lending rate

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     Giving in to overwhelming demands for an easing of the monetary policy, the Reserve Bank of India lowered its short-term lending rate by 25 basis points in a move that could potentially reduce the cost of borrowings on personal and corporate loans. In his bi-monthly monetary policy review for the current fiscal year at the…

  • EXIM Bank Director to speak at Asian American Corporate Meet

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    Director Patricia M. Loui, a member of the Export-Import Bank of the United States (EXIM) board, will participate in the Asian American Corporate Director’s Forum, part of the U.S. Pan Asian American Chamber of Commerce (USPAACC) 30th Anniversary & CelebrAsian Procurement Conference on Wednesday at the Bethesda North Marriot Hotel & Conference Center in Bethesda,…

  • Uncertainty clouds RBI rate hikes

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    Biswajit Choudhury writes in UK’s largest Asian newspaper Asian Lite about the uncertainty of rate hike by RBI As the Reserve Bank of India (RBI) prepares for its bi-monthly monetary policy update here, uncertainty remains over Governor Raghuram Rajan cutting interest rates, despite requests to do so from stakeholders — right from the government to…

  • New housing registrations rise: NHBC

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    The number of new homes registered across the UK continues to outperform 2014 levels, according to NHBC. For the rolling quarter (February – April), registrations increased by 20% compared to the same period last year (41,307 in 2015; 34,451 in 2014). This follows the strong Q1 growth reported by NHBC earlier this month. The private…

  • Most UK migrant entrepreneurs are Asian

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    Migreat, the online platform that facilitates migration by providing accurate, clear and understandable information around all aspects of immigration has published a new report titled “Open Borders to Entrepreneurs & Innovators” that compares 12 start-up visa schemes worldwide and their results. The “Open Borders to Entrepreneurs & Innovators” was produced to draw attention to visa…

  • US media see challenges for Modi

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    Reflecting on the completion of one year of Prime Minister Narendra Modi’s government, the US media on Monday underlined various challenges facing his government, saying he “must face the reality that much of his agenda is still only potential”. “After soaring through India’s political stratosphere on the economic promise ‘achche din aa gaye’ or ‘better…

  • India needs explore deeper into Latin America

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    By Deepak Bhojwani  Prime Minister Narendra Modi has set a crackling diplomatic pace for his government. Barely two months after being sworn in, he was in Brazil in July 2014, where he met 12 Latin American leaders on the sidelines of the BRICS Summit. This triggered a more active engagement with a region benignly ignored…

  • The feel good factor of the Indian economy

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     Biswajit Choudhury and Aparajita Gupta writes on the Indian economy in Asian Lite the leading asian newspaper in UK Recent reviews of global institutions and the prevailing investor confidence suggest a striking change in the perception about the Indian economy cover the past year. Yet, some crucial agenda remains for Prime Minister Narendra Modi’s government as…

  • India Amends Investment Policy

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    Modi cabinet amends investment policy for overseas Indians   The Indian cabinet approved certain amendments to the Foreign Direct Investment (FDI) policy to make investments by overseas Indians in the country easier and simpler. Overseas Indians comprise Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs). According to a cabinet communique,…

  • India create a million jobs in green energy

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    By Chaitanya Mallapur   As India, the world’s third-largest emitter of greenhouse gases but 127th in terms of per capita emissions, ponders over an energy-balanced growth, jobs creation and environment protection in the future, there is encouraging news. The renewable energy sector, a particular focus of attention for Prime Minister Narendra Modi, has generated 400,000 jobs…

  • Sweden keen on India’s smart city projects

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    Fourteen Swedish companies, including the famed Volvo Group, are showcasing their technologies at the three-day Smart City Expo here . Sweden is the official partner country at the expo. “The embassy of Sweden and Business Sweden in India are participating with a number of ministries of the government of India for Smart Cities India 2015,”…

  • Britain should remain in EU: Osborne

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    Britain’s Chancellor of the Exchequer George Osborne said in a keynote speech that he wants Britain to remain in the European Union (EU) — but doesn’t want to see the country run by Europe. Speaking at the 50th anniversary annual dinner of Britain’s leading business organisation, the CBI, Osborne fired the first salvo in what…

  • Asia largest investor destination: Unctad

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    Asia has become, for the first time, the world’s largest investor region with $440 billion invested in 2014, followed by North America ($390 billion) and Europe ($286 billion), according to a report releasedby the UN Conference on Trade and Development (Unctad). The global investment trend monitor published by Unctad showed that among the 20 largest…

  • India tops in consumer confidence survey

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     India, with a score of 130, ranked the highest in consumer confidence among 60 markets. The online survey released was measured by American agency Nielsen. India’s score of 130 was one point higher than the fourth-quarter of 2014, followed by Indonesia (123), the Philippines (115) and the United Arab Emirates (115), Nielsen said of its…

  • UK inflation turns negative

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    The measure of UK inflation turned negative in April for the first time, with the rate falling to -0.1%. It is the first time Consumer Price Index (CPI) inflation has turned negative since 1960, based on comparable historic estimates, the Office for National Statistics said. The biggest contribution to the fall came from a drop in…

  • EU membership is vital to national interest – CBI

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    Businesses should speak in favour of remaining in a reformed European Union, the president of the Confederation of British Industry says. Sir Mike Rake will argue at the group’s annual dinner that firms “must be crystal clear that membership is in our national interest” reported BBC. There are “no credible alternatives” to EU membership, Sir Mike…

  • India is the fastest growing economy: UN

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    By Arul Louis  The UN has now raised its projections for the Indian economy’s growth this year by 1.7 percent to 7.6 percent and by 1.4 percent to 7.7 percent next year from the estimates it made in January. The Mid-Year Update to the World Economic Situation and Prospects 2015 released Tuesday puts India on…