Frank Jack's Feed
Oct 7, 2013

India must tackle higher subsidy spending soon – finance minister

NEW DELHI, Oct 7 (Reuters) – India must tackle a jump in
spending on fuel and food subsidies sooner rather than later,
Finance Minister P. Chidambaram said, part of a series of steps
aimed at stabilising the economy to be announced ahead of an
election due within seven months.

Asia’s third largest economy is suffering its longest and
deepest slump in at least a decade. Rating agencies have
threatened to downgrade its sovereign debt to “junk” status, and
the government is racing to revive growth in a bid to return to
power for a third consecutive time.

Oct 4, 2013

No jobs, no hope, Nepal’s workers head to the Gulf

TELKOT, Nepal (Reuters) – Raju Prasad Lamichhane is thinking of leaving Nepal again to drive trucks in Qatar even though his father died while working there.

“What else can we do? We have no other source of income,” Lamichhane said, sitting with his mother and brother in the half-finished house he started building in Telkot village near Kathmandu with money earned in the Gulf.

Oct 4, 2013

Feature: No jobs, no hope, Nepal’s workers head to the Gulf

TELKOT, Nepal (Reuters) – Raju Prasad Lamichhane is thinking of leaving Nepal again to drive trucks in Qatar even though his father died while working there.

“What else can we do? We have no other source of income,” Lamichhane said, sitting with his mother and brother in the half-finished house he started building in Telkot village near Kathmandu with money earned in the Gulf.

Sep 25, 2013

India-U.S. ties lose shine over economic differences

NEW DELHI, Sept 23 (Reuters) – When India’s Prime Minister
Singh last visited the White House in 2009 he was feted at U.S.
President Barack Obama’s first state dinner, a star-studded
affair that reflected the excitement about blooming ties between
the two big democracies.

Back then, optimists in Washington saw India as a
counterbalance to a rising China and a new engine for the U.S.
economy. In a dinner toast, Obama talked of his “duty” to bring
the two countries closer.

Sep 21, 2013

Before PM’s U.S. trip, India rushes to ready nuclear deal

NEW DELHI (Reuters) – India is making a last-minute push to close a nuclear deal in time for a meeting between U.S. President Barack Obama and Prime Minister Manmohan Singh, who has made atomic energy cooperation with Washington a hallmark of his tenure.

Under the proposed deal, India would contract Toshiba’s (6502.T: Quote, Profile, Research) U.S. nuclear unit Westinghouse for preliminary works, including information sharing, a senior Indian official said. The aim is to build nuclear plants in the state of Gujarat.

Sep 20, 2013

India rushes to ready nuclear deal before Singh’s U.S. trip

NEW DELHI (Reuters) – India is making a last-minute push to close a nuclear deal in time for a meeting between U.S. President Barack Obama and Prime Minister Manmohan Singh, who has made atomic energy cooperation with Washington a hallmark of his tenure.

Under the proposed deal, India would contract Toshiba’s U.S. nuclear unit Westinghouse for preliminary works, including information sharing, a senior Indian official said. The aim is to build nuclear plants in the state of Gujarat.

Sep 13, 2013
via FaithWorld

Hindu nationalist Modi crowned as India’s opposition prime minister candidate

Photo

(Gujarat’s chief minister Narendra Modi speaks during the “Vibrant Gujarat Summit” at Gandhinagar in the western Indian state of Gujarat January 12, 2013. REUTERS/Amit Dave )

Hindu nationalist Narendra Modi was crowned as the candidate for prime minister of India’s main opposition party on Friday, cementing the remarkable rise of a leader adored by business but tainted by deadly religious riots that broke out on his watch.

Sep 13, 2013

Modi crowned as BJP’s prime ministerial candidate

NEW DELHI (Reuters) – Hindu nationalist Narendra Modi was crowned as the candidate for prime minister of India’s main opposition Bharatiya Janata Party (BJP) on Friday, cementing the remarkable rise of a leader adored by business but tainted by deadly religious riots that broke out on his watch.

On a path that from humble roots as the son of a tea-shop owner to running for leadership of the world’s biggest democracy, Modi has methodically built a fervent fan base.

Sep 13, 2013

India’s Modi crowned as opposition prime minister candidate

NEW DELHI (Reuters) – Hindu nationalist Narendra Modi was crowned as the candidate for prime minister of India’s main opposition party on Friday, cementing the remarkable rise of a leader adored by business but tainted by deadly religious riots that broke out on his watch.

On a path that from humble roots as the son of a tea-shop owner to running for leadership of the world’s biggest democracy, Modi has methodically built a fervent fan base.

Sep 9, 2013

Insight: Killing the goose: Why Indian exports need more than a cheap rupee

NEW DELHI (Reuters) – The upside of the Indian rupee’s slump is an export boom that sets the economy straight, right? Wrong.

Prime Minister Manmohan Singh echoed classical economic theory when he told parliament last month that the plunging rupee, which has lost 18 percent against the dollar since selling pressure picked up in May, would spur exports and discourage imports.