Colombo: Sri Lanka and Singapore have signed an agreement to boost bilateral trade and investment. Sr Lanka President Mahinda Rajapaksa, who is on a two-day visit to the southeast Asian city state, met Singaporean Prime Minister Lee Hsien Loong and called for stepping up trade ties. Loong expressed his government’s willingness to support Sri Lanka in [...]
Mumbai: High fuel costs and falling revenue resulted in Kingfisher Airlines’ losses in the third quarter of the current fiscal mounting to Rs.444 crore from a net loss of Rs.254 crore suffered in the like quarter of 2010-11. The company told the Bombay Stock Exchange (BSE) in a regulatory filing that its total income declined by [...]
New Delhi: An influential Indian trade body Wednesday said the recent attack on Israeli targets, blamed by Israel on Iran, will not affect India’s growing trade and business ties with Iran, which can grow to $30 billion by 2015. “India is a rapidly growing economy with a surging demand for commercial energy including [...]
New Delhi: The Delhi High Court Thursday refused to stay the summons issued against social networking sites Google and Facebook by a trial court over a complaint related to allegedly objectionable content on websites. Justice Suresh Kait offered relief to the representatives of the two companies and exempted them from attending the hearing in [...]
New Delhi: India’s gold consumption in 2011 fell by seven percent to 933.4 tonnes, down from 1,006.3 tonnes, due to volatility in rupee value and the tightening of monetary policy to control inflation, said a report by World Gold Council Thursday. ”The rapid rise and fall in the rupee, and resulting domestic gold price swings had [...]
Islamabad: In a major step forward towards normalising business ties, the Indian government plans to bring changes in the Foreign Exchange Management Act (FEMA) to allow investments from Pakistan, a senior government official said Thursday. “Commerce ministry has sent a proposal to the finance ministry for change in FEMA rules to allow investments from Pakistan,” [...]
New Delhi: The monthly per capita expenditure of Delhites rose 39.79 percent in 2010 to Rs.2,905, the highest in India, signifying the rising purchasing power in the city state. The national figure for monthly per capita expenditure (MPCE) in urban areas was Rs.1,984 for 2010. A report by the Delhi government’s Directorate of Economics and Statistics [...]
Islamabad: India and Pakistan Wednesday signed three deals and agreed to normalise visa regimes and move from “positive list” to a short “negative list” trade regime by the end of this month, a major step forward to ease trade norms and facilitate movements of people. According to a joint statement released after [...]
New Delhi: Bollywood movies have for long popularised foreign destinations in India and now the same tool will be used to promote Indian destinations among foreign travellers and filmmakers. The Ministry of Information and Broadcasting and Ministry of Tourism Thursday signed a Memorandum of Understanding (MoU) to enhance the reach of Incredible India through cinema with [...]
Sydney: India’s Adani Group has hit the Australian headlines with their $10-billion mega plan to build Queensland state’s largest coalmine, a 500-km railroad, a new township and even a Greenfield airport. According to sources, chairman Gautam Adani was in Queensland, in the north-east of this country, last weekend to finalise various acquisitions and infrastructure projects [...]