Manoj's Feed
Mar 24, 2014

Wary of pollsters, many draw election tips from bookies

NEW DELHI (Reuters) – Despite India’s prohibitions on gambling, anyone keen to bet on who will be the next occupant of the prime minister’s residence at 7, Race Course Road can call a closely guarded phone number, or find the right doorway in a city backstreet.

The world’s largest democracy goes to the ballot box next month. Election results are typically hard to call, and formal opinion polls have a patchy record in gauging voter trends.

Mar 24, 2014

Wary of pollsters, Indians draw election tips from illegal bookies

NEW DELHI (Reuters) – Despite India’s prohibitions on gambling, anyone keen to bet on who will be the next occupant of the prime minister’s residence at 7, Race Course Road can call a closely guarded phone number, or find the right doorway in a city backstreet.

The world’s largest democracy goes to the ballot box next month. Election results are typically hard to call, and formal opinion polls have a patchy record in gauging voter trends.

Mar 21, 2014

Government raises $1.4 billion in divestment push

MUMBAI/NEW DELHI (Reuters) – The government on Friday raised as much as $1.4 billion through share sales, in a push to shore up state finances before it heads into a tough parliamentary election next month.

As a result, New Delhi managed to exceed its sharply-lowered budget target to raise as much as $3.1 billion via stake sales in some private as well as state companies in the fiscal year to March 31, after years of falling short.

Mar 21, 2014

India raises $1.4 bln in divestment push to bolster revenue

MUMBAI/NEW DELHI, March 21 (Reuters) – The Indian government
on Friday raised as much as $1.4 billion through share sales, in
a push to shore up state finances before it heads into a tough
parliamentary election next month.

As a result, New Delhi managed to exceed its sharply-lowered
budget target to raise as much as $3.1 billion via stake sales
in some private as well as state companies in the fiscal year to
March 31, after years of falling short.

Mar 14, 2014

Government aims to sell stakes in companies via up to $490 million ETF

MUMBAI/NEW DELHI (Reuters) – The government is seeking to raise around $500 million by selling partial stakes in 10 state-owned companies via an exchange traded fund that will be operated by Goldman Sachs’ (GS.N: Quote, Profile, Research) asset management unit.

The Central Public Sector Enterprises ETF will start accepting subscriptions starting on Tuesday with an aim to raise as much as 30 billion rupees by March 21.

Mar 14, 2014

India aims to sell stakes in companies via up to $490 mln ETF

MUMBAI/NEW DELHI, Feb 20 (Reuters) – The Indian government
is seeking to raise around $500 million by selling partial
stakes in 10 state-owned companies via an exchange traded fund
that will be operated by Goldman Sachs’ asset management
unit.

The Central Public Sector Enterprises ETF will start
accepting subscriptions starting on Tuesday with an aim to raise
as much as 30 billion rupees ($490.46 million) by March 21.

Mar 11, 2014

Exports fall in February, may miss annual target

NEW DELHI (Reuters) – Merchandise exports fell for the first time in eight months in February, signalling the country may miss its annual overseas sales target for the second straight year, data released on Tuesday showed.

Several months of rising exports have helped India bring down its current account deficit to a manageable level, and despite the weaker data in February, it is likely to beat last fiscal year’s total of $300 billion in merchandise exports.

Mar 11, 2014

India’s exports fall in February, may miss annual target

NEW DELHI, March 11 (Reuters) – India’s merchandise exports
fell for the first time in eight months in February, signalling
the country may miss its annual overseas sales target for the
second straight year, data released on Tuesday showed.

Several months of rising exports have helped India bring
down its current account deficit to a manageable level, and
despite the weaker data in February, it is likely to beat last
fiscal year’s total of $300 billion in merchandise exports.

Mar 11, 2014

India halts plan to join global bond indexes, defers Euroclear-sources

NEW DELHI, March 11 (Reuters) – India has put on ice plans
to join major emerging market bond indexes that would require it
to remove restrictions on foreign capital inflows, two sources
said, signalling easing concerns about the rupee and the balance
of payments.

A separate plan to explore joining Euroclear, the world’s
largest securities settlement system, has also been deferred
until the next government takes charge after elections in April
and May. That plan could have further opened up the market to
portfolio capital inflows.

Mar 7, 2014

Government to set up inflation target, RBI to implement – Chidambaram

NEW DELHI (Reuters) – The government has the right to set the country’s inflation target, while the Reserve Bank of India’s (RBI) role is to implement the decision, Finance Minister P. Chidambaram said in a joint news conference with the RBI governor.

The comment by Chidambaram come after a RBI panel in January proposed moving to an inflation target of 4 percent in three years, with a 2 percent band on either side when setting monetary policy, sharply below current levels.