Manoj's Feed
Nov 13, 2014

India to review gold policy after surge in imports -sources

NEW DELHI/MUMBAI, Nov 13 (Reuters) – India is considering
curbs on gold imports by private trading firms after foreign
purchases surged in the past two months, two sources with direct
knowledge of the matter said.

October shipments into India, the world’s No.2 gold consumer
after China, jumped to about 150 tonnes, compared with under 25
tonnes a year earlier and 143 tonnes in September, a third
source, a top finance ministry official, said on Thursday.

Nov 13, 2014

India wins U.S. support for food scheme, ends WTO blockade

NEW DELHI/WASHINGTON, Nov 13 (Reuters) – India won U.S.
support for a massive domestic food stockpiling scheme on
Thursday, rescuing the biggest global trade deal in two decades
and giving new Prime Minister Narendra Modi a victory without
major concessions.

Under the pact with Washington, India will lift a veto on a
global agreement on streamlining customs rules that is likely to
add $1 trillion to the world economy as well as 21 million jobs,
18 million of them in developing countries.

Nov 6, 2014

Modi sell-off drive stalls, more Indian spending cuts on way

NEW DELHI (Reuters) – India will fall well short of its $9.5 billion (5.95 billion British pounds) privatisation target this year, despite a big stock market rally that has attracted foreign investors, two government sources told Reuters.

Prime Minister Narendra Modi’s ambitious selloff agenda has met resistance from labour unions and faces delays due to bureaucratic upheaval caused by a purge of the top team at the finance ministry that handles asset sales.

Nov 6, 2014

Exclusive – Modi sell-off drive stalls, more spending cuts on way

NEW DELHI (Reuters) – India will fall well short of its $9.5 billion privatisation target this year, despite a big stock market rally that has attracted foreign investors, two government sources told Reuters.

Prime Minister Narendra Modi’s ambitious selloff agenda has met resistance from labour unions and faces delays due to bureaucratic upheaval caused by a purge of the top team at the finance ministry that handles asset sales.

Nov 6, 2014

Exclusive: Modi sell-off drive stalls, more Indian spending cuts on way

NEW DELHI (Reuters) – India will fall well short of its $9.5 billion privatization target this year, despite a big stock market rally that has attracted foreign investors, two government sources told Reuters.

Prime Minister Narendra Modi’s ambitious selloff agenda has met resistance from labor unions and faces delays due to bureaucratic upheaval caused by a purge of the top team at the finance ministry that handles asset sales.

Nov 5, 2014

Insight – For India, China-backed lender may be answer to coal investment

NEW DELHI/SEOUL (Reuters) – India is hoping a new China-backed multilateral lender will fund coal-based energy projects, an official said, putting it in direct conflict with the World Bank, whose chief has maintained that it would stick to its restrictions on such lending.

A senior Indian official told Reuters the Asian Infrastructure Investment Bank (AIIB), sponsored by China, is expected to allow funding of coal-fired power plants that the World Bank has almost totally blocked.

Nov 5, 2014

For India, China-backed lender may be answer to coal investment

NEW DELHI/SEOUL, Nov 6 (Reuters) – India is hoping a new
China-backed multilateral lender will fund coal-based energy
projects, an official said, putting it in direct conflict with
the World Bank, whose chief has maintained that it would stick
to its restrictions on such lending.

A senior Indian official told Reuters the Asian
Infrastructure Investment Bank (AIIB), sponsored by China, is
expected to allow funding of coal-fired power plants that the
World Bank has almost totally blocked.

Nov 5, 2014

India, isolated, toughs it out in WTO food-stockpiling row

NEW DELHI/GENEVA (Reuters) – India defied the world on Wednesday in a row over food stockpiling that has crippled attempts to reach an global trade agreement, raising doubts that backroom talks can reach a compromise before a Group of 20 summit this month.

At the end of July, Prime Minister Narendra Modi pulled the plug on implementing a so-called trade-facilitation deal struck in Bali last year, linking it to the emotive issue of rural poverty in his country of 1.25 billion people.

Nov 5, 2014

Govt plans $2.8 billion ONGC stake sale by early Dec – sources

NEW DELHI/MUMBAI (Reuters) – The government plans to sell a 5 percent stake in energy explorer Oil and Natural Gas Corp (ONGC) in the last week of November or the first week of December, two sources directly involved in the deal said on Wednesday.

Prime Minister Narendra Modi’s government has introduced long-awaited reforms in the oil sector, freeing diesel prices and raising natural gas prices – measures which should be positive for ONGC and other oil marketing companies.

Nov 5, 2014

India plans $2.8 bln ONGC stake sale by early Dec – sources

NEW DELHI/MUMBAI, Nov 5 (Reuters) – The Indian government
plans to sell a 5 percent stake in energy explorer Oil and
Natural Gas Corp (ONGC) in the last week of November
or the first week of December, two sources directly involved in
the deal said on Wednesday.

Prime Minister Narendra Modi’s government has introduced
long-awaited reforms in the oil sector, freeing diesel prices
and raising natural gas prices – measures which should be
positive for ONGC and other oil marketing companies.