Matthias's Feed
Jun 25, 2012

Road to nowhere: the longest expressway India never had

BALLIA, India, June 26 (Reuters) – In a wheat field near the
mighty Ganges river stands a cracked foundation stone surrounded
by nibbling goats and farmers driving their cattle in the baking
sun.

Unveiled more than four years ago, it’s all that remains of
an ambition to build India’s longest expressway, an eight-lane,
1,050-km (650-mile) road that would have run through Uttar
Pradesh state and connected one of the country’s most backward
regions to the doorstep of the nation’s capital.

Jun 23, 2012

IKEA to enter India, invest 1.5 bln euros in stores

MUMBAI/NEW DELHI (Reuters) – Swedish retailer IKEA, the world’s largest furniture maker, is opening up in India, marking a crucial step for the Indian government whose policy flip flops related to foreign investment have damaged market confidence.

The company, known for huge stores selling flatpack furniture and accessories, said it would invest 1.5 billion euros to open 25 stores in Asia’s third-largest economy after initially balking at India’s sourcing requirements.

Jun 22, 2012

IKEA to invest 1.5 bln euros in India store openings

NEW DELHI/MUMBAI, June 22 (Reuters) – Swedish retailer IKEA
, the world’s largest furniture maker, will set up shop
in India after earlier balking at sourcing requirements,
spending 1.5 billion euros ($1.9 billion) to open 25 stores in
Asia’s third-largest economy.

IKEA’s plans, announced by the Indian government after a
meeting between the company’s CEO and India’s trade minister in
Russia, could give a boost to the embattled government of Prime
Minister Manmohan Singh, which was forced in December to
backtrack on plans to allow in foreign supermarket operators.

May 17, 2012

Ever hopeful, India pitches for Fitch upgrade after S&P blow

NEW DELHI, May 17 (Reuters) – India’s economic growth story
is intact and the current account deficit under control, senior
Finance Ministry officials told a team from global ratings
agency Fitch on Thursday, weeks after S&P cut its outlook for
Asia’s third largest economy.

The visit came as the Indian rupee tumbled to a record low
against the dollar, with the crisis in the euro zone adding
pressure on a currency already under fire from weak current
account and fiscal deficits.

May 17, 2012

India pitches for Fitch upgrade after S&P blow

NEW DELHI (Reuters) – India’s economic growth story is intact and the current account deficit under control, senior Finance Ministry officials told a team from global ratings agency Fitch on Thursday, weeks after S&P cut its outlook for Asia’s third largest economy.

The visit came as the Indian rupee tumbled to a record low against the dollar, with the crisis in the euro zone adding pressure on a currency already under fire from weak current account and fiscal deficits.

May 13, 2012

Insight: India’s “Queen of Democrazy” at the crossroads of change

KOLKATA, India (Reuters) – Kolkata’s red-brick secretariat was built more than 200 years ago for Britain’s East India Company, which used trade in opium, cloth and tea to colonize the subcontinent. Distrust of foreign merchants lingers still.

For the past year, the sprawling building has been occupied by Mamata Banerjee, the diminutive chief minister of West Bengal state who is perhaps the largest obstacle to economic reforms that would allow 21st-century traders free access to India’s consumer markets.

May 13, 2012

“Queen of Democrazy” at the crossroads of change

KOLKATA, India (Reuters) – Kolkata’s red-brick secretariat was built more than 200 years ago for Britain’s East India Company, which used trade in opium, cloth and tea to colonise the subcontinent. Distrust of foreign merchants lingers still.

For the past year, the sprawling building has been occupied by Mamata Banerjee, the diminutive chief minister of West Bengal who is perhaps the largest obstacle to economic reforms that would allow 21st-century traders free access to India’s consumer markets.

May 13, 2012

India’s “Queen of Democrazy” at the crossroads of change

KOLKATA, India, May 13 (Reuters) – Kolkata’s red-brick
secretariat was built more than 200 years ago for Britain’s East
India Company, which used trade in opium, cloth and tea to
colonise the subcontinent. Distrust of foreign merchants lingers
still.

For the past year, the sprawling building has been occupied
by Mamata Banerjee, the diminutive chief minister of West Bengal
state who is perhaps the largest obstacle to economic reforms
that would allow 21st-century traders free access to India’s
consumer markets.

May 3, 2012

Clinton to meet fiesty Mamata Banerjee on India visit

NEW DELHI (Reuters) – U.S. Secretary of State Hillary Clinton may press the case for India’s stalled policy to open its supermarket sector to foreign chains when she meets its most powerful critic: Mamata Banerjee, the fiery chief minister of West Bengal.

The two women are due to meet during Clinton’s three-day visit to India that starts on Sunday with a stopover in Banerjee’s home state. Indian officials in New Delhi said retail reform – an issue of enormous interest to U.S. and other foreign investors – could be discussed but did not elaborate. U.S. officials declined to comment on the meeting.

May 3, 2012

Clinton to meet feisty state chief on India visit

NEW DELHI, May 3 (Reuters) – U.S. Secretary of State Hillary
Clinton may press the case for India’s stalled policy to open
its supermarket sector to foreign chains when she meets its most
powerful critic: Mamata Banerjee, the fiery chief minister of
West Bengal.

The two women are due to meet during Clinton’s three-day
visit to India that starts on Sunday with a stopover in
Banerjee’s home state. Indian officials in New Delhi said retail
reform – an issue of enormous interest to U.S. and other foreign
investors – could be discussed but did not elaborate. U.S.
officials declined to comment on the meeting.