Arup's Feed
Nov 12, 2012

Dismal trade, production data deepens fears about Indian economy

NEW DELHI (Reuters) – India’s economic gloom deepened on Monday with a surprise contraction in industrial production, a fall in exports and higher retail inflation, dashing hopes of a quick revival in an economy on track to post its slowest growth in a decade.

The data will add pressure on the government to boost economic growth by fast-tracking stalled tax and regulatory reforms. It will also bolster calls for an interest rate cut by the country’s central bank, which has so far ruled out any before January, citing high inflation.

Nov 5, 2012

Battling emus and gold, govt wants people to buy shares

MUMBAI/NEW DELHI (Reuters) – A year ago, S. Kashinath, an illiterate labourer from Tamil Nadu, lost 300,000 rupees in savings he invested in a pyramid scheme promising high returns from emu farming.

Now, Kashinath, and around 23 million other low- to middle-income Indians are being courted by a government scheme to boost investment in local stock markets.

Nov 5, 2012

Battling emus and gold, India wants more people to buy shares

MUMBAI/NEW DELHI, Nov 6 (Reuters) – A year ago, S.
Kashinath, an illiterate labourer from India’s southern Tamil
Nadu state, lost 300,000 rupees ($5,600) in savings he invested
in a pyramid scheme promising high returns from emu farming.

Now, Kashinath, and around 23 million other low- to
middle-income Indians are being courted by a government scheme
to boost investment in local stock markets.

Nov 5, 2012

Boeing preferred bidder in second India helicopter deal -source

NEW DELHI, Nov 5 (Reuters) – India has chosen Boeing Corp
as the preferred bidder to supply 15 heavy lift
helicopters for its Air Force, a Defence Ministry source said on
Monday, potentially the second major Indian contract this year
for the Seattle-based firm.

Boeing’s Chinook twin rotor helicopters emerged as the
lowest bidder and will now hold exclusive negotiations with the
ministry, the source told Reuters, speaking on condition of
anonymity.

Nov 1, 2012

Telcos win spectrum concession

NEW DELHI (Reuters) – A panel of ministers says telecom operators fighting the withdrawal by government of high quality airwaves will be allowed to keep some of their spectrum holdings, according to a government official.

Market leaders Bharti Airtel (BRTI.NS: Quote, Profile, Research) and Vodafone’s (VOD.L: Quote, Profile, Research) India unit — two of the country’s oldest carriers — will be hit hardest by the replacement of 900 MHz band spectrum by lower quality 1800 Mhz band capacity.

Nov 1, 2012

India telcos win spectrum concession

NEW DELHI, Nov 1 (Reuters) – A panel of Indian ministers
says telecom operators fighting the withdrawal by government of
high quality airwaves will be allowed to keep some of their
spectrum holdings, according to a government official.

Market leaders Bharti Airtel and Vodafone’s
India unit — two of the country’s oldest carriers –
will be hit hardest by the replacement of 900 MHz band spectrum
by lower quality 1800 Mhz band capacity.

Oct 30, 2012
via India Insight

Miffed Chidambaram widens rift with RBI

Photo

Finance Minister P. Chidambaram usually does not talk to the throng of news-hungry reporters and cameramen gathered outside the gates of the red sandstone colonial building which houses the finance ministry. A ‘no comment’ or ‘I don’t have anything to say’ suffices on an ordinary day. Tuesday, however, was not an ordinary day.

Some two hours after the Reserve Bank of India announced it would leave the repo rate unchanged, and said that battling inflation was a more important priority than backing growth, the assertive finance minister arrived in the ministry. He got out of his car and walked up to the voice recorders, microphones and camera-toting journalists waiting in the driveway.

Oct 26, 2012

Kingfisher to use own funds in bid to resume service

NEW DELHI (Reuters) – Kingfisher Airlines Ltd(KING.NS: Quote, Profile, Research), which had its licence suspended last week, will use its own money as it tries to resume flying, the Directorate General of Civil Aviation (DGCA) said on Friday, a day after the grounded carrier persuaded striking staff to return to work.

The aviation regulator also said Kingfisher would need approval for a revival plan from, among others, oil companies and airport operators, which have struggled to collect money owned by the cash-strapped airline.

Oct 26, 2012

Kingfisher to use own funds in bid to resume service -regulator

NEW DELHI, Oct 26 (Reuters) – India’s Kingfisher Airlines
Ltd, which had its licence suspended last week, will
use its own money as it tries to resume flying, India’s air
regulator said on Friday, a day after the grounded carrier
persuaded striking staff to return to work.

The aviation regulator also said Kingfisher would need
approval for a revival plan from, among others, oil companies
and airport operators, which have struggled to collect money
owned by the cash-strapped airline.

Oct 25, 2012

India Kingfisher staff return, licence still suspended

NEW DELHI, Oct 25 (Reuters) – Employees of India’s grounded
Kingfisher Airlines Ltd, unpaid since March, agreed on
Thursday to return to work although the debt-strapped carrier
must still convince the aviation regulator to reinstate its
licence.

The deal appears to avert potentially embarrassing protests
by disgruntled staff at this weekend’s Formula One auto race
outside New Delhi, where Kingfisher Chairman Vijay Mallya’s
Force India team will compete.

    • About Arup

      "I cover India's economic policies, and the people behind them, out of New Delhi. I also write on defence matters affecting the world's largest arms importer and contribute to the political and general file. I started my career with the Reuters Bangalore bureau in 2008."
    • Follow Arup