Krittivas's Feed
Nov 22, 2010

Fallout from India parliament deadlock

NEW DELHI, Nov 22 (Reuters) – India’s government and
opposition parties failed on Monday to break a deadlock in
parliament over a widening corruption scandal that has
prevented economic reforms from being approved.

The opposition has halted parliament sessions since Nov. 9
over demands for a joint parliamentary investigation into the
sale of telecoms licences and spectrums in 2007-2008 in the
world’s fastest growing mobile phone market.

Nov 20, 2010

India PM rejects court corruption probe criticism

NEW DELHI (Reuters) – Indian Prime Minister Manmohan Singh, weakened by a corruption scandal involving his sacked telecoms minister, told the Supreme Court on Saturday he had done nothing wrong and had followed correct procedures.

In a rare move, the Supreme Court this week reprimanded Singh for failing to probe ex-telecoms minister Andimuthu Raja over allegations he had sold licenses too cheaply. The court demanded Singh himself explain what had happened, tarnishing his squeaky-clean image.

Nov 20, 2010

PM to prosecute wrongdoers in corruption probe

NEW DELHI (Reuters) – Prime Minister Manmohan Singh said on Saturday any wrongdoers in a widening telecoms scam, which is threatening his political survival, will be prosecuted.

In his first comments since the corruption scandal blew up, Singh told a leadership summit in Delhi that several investigating agencies were looking into the issue, which could potentially emerge as the country’s biggest graft cases and which is tarnishing the reputation of a prime minister long seen as India’s most honest politician.

Nov 20, 2010

India PM to prosecute wrongdoers in corruption probe

NEW DELHI, Nov 20 (Reuters) – Indian Prime Minister
Manmohan Singh said on Saturday any wrongdoers in a widening
telecoms scam, which is threatening his political survival,
will be prosecuted.

In his first comments since the corruption scandal blew
up, Singh told a leadership summit in Delhi that several
investigating agencies were looking into the issue, which
could potentially emerge as the country’s biggest graft cases
and which is tarnishing the reputation of a prime minister
long seen as India’s most honest politician.

Nov 11, 2010

Hopeful of pact on G20 policy coordination: India

SEOUL (Reuters) – Group of 20 nations should not be too demanding in respect to policy coordination because that it has never been tried before, but eventually “some agreement” should be possible, India’s chief G20 negotiator said on Thursday.

Efforts by several nations to hold down their currencies to prop up exports and growth and the U.S. Federal Reserve’s bond-buying spree blamed for the dollar’s weakening have spurred fresh calls for coordination of national policies.

Nov 10, 2010

G20 struggles to cool currency tensions

SEOUL (Reuters) – G20 negotiators sought to gloss over bitter divisions on global economic policies on Wednesday after a day of heated arguments as their leaders gathered for a summit in Seoul.

Deputies clutching mobile phones to their ears shuttled in and out of a hall as they tried to draft a final statement, to be released on Friday, but remained far apart on pivotal issues including currency exchange rates, G20 spokesman Kim Yoon Kyung said.

Nov 10, 2010

India doesn’t need capital controls on portfolio flows

SEOUL (Reuters) – There is no need for India to introduce capital controls on portfolio flows and foreign direct investment levels are not very volatile, a top Indian policy maker said on Wednesday.

Many fear a U.S. Federal Reserve move to buy $600 billion more in government bonds by June 2011 will lead to a surge of “hot money” inflows to emerging markets such as India, South Korea and Brazil.

Nov 8, 2010

Obama returns fire after China slams Fed’s move

NEW DELHI (Reuters) – U.S. President Barack Obama defended the Federal Reserve’s policy of printing dollars on Monday after China and Russia stepped up criticism ahead of this week’s Group of 20 meeting.

The G20 summit has been pitched as a chance for leaders of the countries that account for 85 percent of world output to prevent a currency row escalating into a rush to protectionism that could imperil the global recovery.

Nov 8, 2010

Obama fires back after China slates Fed’s QE2

NEW DELHI (Reuters) – President Barack Obama defended the Federal Reserve’s policy of printing dollars on Monday during a trip to India, after Chinese officials stepped up criticism ahead of this week’s Group of 20 meeting.

The G20 summit has been pitched as a chance for leaders of the countries that account for 85 percent of world output to prevent “currency wars” from spreading to become a rush to protectionism that could imperil the global recovery.

Nov 8, 2010

Obama to push cooperation to India parliament

NEW DELHI (Reuters) – U.S. President Barack Obama met India’s president on Monday ahead of talks with government leaders that will see him address parliament to rally momentum behind business and diplomatic ties with the rising global power.

Obama has met with some criticism at home for traveling abroad so soon after his mauling in mid-term elections over unemployment, but has been well received in India, vowing to lift export controls and announcing $10 billion in business deals.