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Welcome to Oxus
Oxus is the ancient name for Amu Dariya, a river originating in the lofty Pamir Plateau in Central Asia and weaving its way through Afghanistan and eventually into the large Aral Sea in Russia. Legend has it that when Alexander the Great was conquering the world, he arrived at the Oxus and thought that he had reached India. Appropriate therefore that Oxus should be a firm which helps discover Indian markets.
Food inflation at 11.47 pct y/y as on Aug 28: Govt
Thu, 09 Sep 2010 06:45:48 GMT
Thu, 09 Sep 2010 06:45:48 GMT
Food price index rose 11.47 percent and the fuel price index climbed 12.71 percent in the year to Aug. 28, government data released on Thursday showed.
Industrial growth to slow down: Montek
Thu, 09 Sep 2010 05:48:13 GMT
Thu, 09 Sep 2010 05:48:13 GMT
India's industrial expansion is likely to slow down in coming months, though farm growth would pick up in the second half of the year, Montek Singh Ahluwalia, deputy chairman of the Planning Commission, said on Thursday.
RBI won't ease infrastructure lending rules for banks
Thu, 09 Sep 2010 02:41:20 GMT
Thu, 09 Sep 2010 02:41:20 GMT
The Reserve Bank of India (RBI) has made it very clear that it is not in favour of giving banks any further relaxation in lending to infrastructure sector.
ET in a classroom: What is a GDP deflator?
Wed, 08 Sep 2010 23:06:18 GMT
Wed, 08 Sep 2010 23:06:18 GMT
The GDP data fiasco was blamed on the use of inept deflators. ET explains the concept.
Cos bill may close doors on subsidiary maze
Wed, 08 Sep 2010 23:04:06 GMT
Wed, 08 Sep 2010 23:04:06 GMT
The new companies bill, which is being reworked by the ministry of corporate affairs, will seek to prevent businesses from using complex corporate structures to escape scrutiny of law.
Govt to prod banks to lend more for low-cost housing
Wed, 08 Sep 2010 22:54:13 GMT
Wed, 08 Sep 2010 22:54:13 GMT
Concerned over inadequate funding of low-cost housing projects, the finance ministry may nudge state-run banks and housing finance companies to set aside more funds.
'RBI unlikely to touch short-term rates in mid-quarter review'
Wed, 08 Sep 2010 11:12:30 GMT
Wed, 08 Sep 2010 11:12:30 GMT
The country's largest lender, State Bank of India, expects the Reserve Bank to keep its key short-term rates untouched in the mid-quarter review of its monetary policy to be announced on September 16.
Export faciliation centre planned in Puducherry
Wed, 08 Sep 2010 10:45:42 GMT
Wed, 08 Sep 2010 10:45:42 GMT
An export facilitation centre (EFC) would be set up here to aid and assist entrepreneurs in export related activities.
Policy for special manufacturing zones likely this year: DIPP
Wed, 08 Sep 2010 10:41:34 GMT
Wed, 08 Sep 2010 10:41:34 GMT
The Centre is likely to announce the policy for units in the proposed special investment zones by end of this year, a move that is aimed at increasing the share of manufacturing in the overall economic growth.
India seeks to invest in diverse sectors of Peruvian economy
Wed, 08 Sep 2010 10:21:05 GMT
Wed, 08 Sep 2010 10:21:05 GMT
India is keen to invest in Peru's hydrocarbon, mineral, pharmaceutical and agriculture sectors through joint ventures and deepen the economic engagement with the South American country.
July industrial output growth seen up 7.7%
Wed, 08 Sep 2010 10:02:18 GMT
Wed, 08 Sep 2010 10:02:18 GMT
Industrial output growth probably picked up to 7.7 per cent in July from a year earlier, the median forecast of 21 economists showed. Annual growth had slowed in June to 7.1 per cent from 11.5 per cent in May.
Organic farming may grow 10-fold in 5 years
Wed, 08 Sep 2010 09:12:05 GMT
Wed, 08 Sep 2010 09:12:05 GMT
Area under organic farming in India is likely to grow over ten-fold in the next five years on increased farmers' interest to ensure sustained yield at lower costs.
M&A activity slows down in Aug to $ 4.2 bn
Wed, 08 Sep 2010 07:54:56 GMT
Wed, 08 Sep 2010 07:54:56 GMT
India Inc's merger and acquisition activity seems to be fading as the month of August was the leanest since September 2009 with total deal volume of $ 4.2 bn.
Govt seeks Canadian investment in food processing
Wed, 08 Sep 2010 06:00:54 GMT
Wed, 08 Sep 2010 06:00:54 GMT
Subodh Kant Sahai, minister for food processing industries, has called upon Canadian companies to invest in the fast growing sector of the Indian economy.
RBI to look into deregulation of interest rate on savings
Wed, 08 Sep 2010 05:51:46 GMT
Wed, 08 Sep 2010 05:51:46 GMT
The Reserve Bank said it will soon set up a working group to examine the possibility of deregulation of interest rates on savings account.
RBI won't ease infrastructure lending rules for banks
Thu, 09 Sep 2010 02:41:20 GMT
Thu, 09 Sep 2010 02:41:20 GMT
The Reserve Bank of India (RBI) has made it very clear that it is not in favour of giving banks any further relaxation in lending to infrastructure sector.
Govt to prod banks to lend more for low-cost housing
Wed, 08 Sep 2010 22:54:13 GMT
Wed, 08 Sep 2010 22:54:13 GMT
Concerned over inadequate funding of low-cost housing projects, the finance ministry may nudge state-run banks and housing finance companies to set aside more funds.
Export faciliation centre planned in Puducherry
Wed, 08 Sep 2010 10:45:42 GMT
Wed, 08 Sep 2010 10:45:42 GMT
An export facilitation centre (EFC) would be set up here to aid and assist entrepreneurs in export related activities.
CII report paints dismal picture of India's health sector
Sun, 05 Sep 2010 04:59:28 GMT
Sun, 05 Sep 2010 04:59:28 GMT
According to the report, about 7-8 per cent of households are pushed below the poverty line because of expenses incurred on health care.
Organic farming may grow 10-fold in 5 years
Wed, 08 Sep 2010 09:12:05 GMT
Wed, 08 Sep 2010 09:12:05 GMT
Area under organic farming in India is likely to grow over ten-fold in the next five years on increased farmers' interest to ensure sustained yield at lower costs.
Rs 12K-cr tax blow for Vodafone on Hutch deal
Wed, 08 Sep 2010 18:32:00 GMT
Wed, 08 Sep 2010 18:32:00 GMT
Telecom major loses legal battle on tax claim; to move SC.
Marginal hike in fuel prices
Tue, 07 Sep 2010 18:51:00 GMT
Tue, 07 Sep 2010 18:51:00 GMT
Petrol and diesel prices across the country will increase by 9-13 paise a litre with effect from Tuesday midnight, after the government decided to increase the commission to petrol pump dealers. In Delhi, the price of petrol will go up by 13 paise to Rs 51.56 a litre, while diesel will be 9 paise costlier to Rs 37.71 per litre. The price of auto LPG will also increase by 8 paise to Rs 30.94 a litre, said an Indian Oil official.
India Inc faces 2% CSR levy
Tue, 07 Sep 2010 18:50:00 GMT
Tue, 07 Sep 2010 18:50:00 GMT
Several Indian companies might have to set aside 2 per cent of their average net profits during the preceding three years to meet corporate social responsibility (CSR) spending requirements. A parliamentary standing committee on finance, which vetted the Companies Bill, 2009, said in its report that the ministry of corporate affairs has agreed to the suggestion.
OilMin refers Cairn India sale to Sebi
Mon, 06 Sep 2010 18:42:16 GMT
Mon, 06 Sep 2010 18:42:16 GMT
The petroleum ministry has referred the Vedanta Resources acquisition of Cairn Energy to the Securities and Exchange Board of India (Sebi). Petroleum Minister Murli Deora told reporters here today that his ministry would take a final decision on the deal in four to six weeks.
Captive coal bidders face new riders
Mon, 06 Sep 2010 18:42:00 GMT
Mon, 06 Sep 2010 18:42:00 GMT
Ministry mulls 5% project profits for local area development.
PM seeks to bridge 2 Indias
Mon, 06 Sep 2010 18:35:00 GMT
Mon, 06 Sep 2010 18:35:00 GMT
Cannot solve problems by perpetuating poverty in the name of environment.
IPL council decides fees, formats for next three seasons
Sun, 05 Sep 2010 19:22:00 GMT
Sun, 05 Sep 2010 19:22:00 GMT
The governing council of the Indian Premier League cricket tournament today increased the purse size of franchises for auction of players and decided on the number of players that could be retained by teams in the coming seasons.
Package for Naxal affected areas in 2 weeks
Sat, 04 Sep 2010 18:42:39 GMT
Sat, 04 Sep 2010 18:42:39 GMT
The integrated action plan for the Naxal-affected areas is likely to be finalised in the next two weeks.
Obama to unveil new measures next week
Sat, 04 Sep 2010 18:34:00 GMT
Sat, 04 Sep 2010 18:34:00 GMT
Terms creation of thousands of private jobs as positive news.
Pak envoy sees Pawar's hand in ICC suspension
Fri, 03 Sep 2010 18:56:00 GMT
Fri, 03 Sep 2010 18:56:00 GMT
Pakistans High Commissioner to the UK, Wajid Hasan, today criticised International Cricket Council (ICC) Chief Executive Haroon Lorgat and President Sharad Pawar, saying he sensed a conspiracy behind the suspension of three Pakistani cricket players facing allegations of spot-fixing.
Govt clears $5-bn airplane purchases
Fri, 03 Sep 2010 18:54:00 GMT
Fri, 03 Sep 2010 18:54:00 GMT
The government has cleared the acquisition of 46 new aircraft worth over Rs 19,000 crore by three low-cost carriers: SpiceJet, IndiGo and Jet Lite. The new planes will arrive in a staggered delivery schedule beginning November. The acquisitions were cleared on August 30 at a meeting of a civil aviation ministry empowered committee.
DTC lightens evasion penalties
Wed, 01 Sep 2010 18:42:00 GMT
Wed, 01 Sep 2010 18:42:00 GMT
While the tax burden for an average taxpayer will lighten marginally, for tax evaders the Direct Taxes Code (DTC) proposes to reduce penalties substantially. The DTC Bill, tabled in Parliament on Monday, proposes that anyone under-reporting their tax base would have to pay a maximum penalty of two times the tax sought to be evaded.
Apex court to review Bhopal judgement
Tue, 31 Aug 2010 19:13:00 GMT
Tue, 31 Aug 2010 19:13:00 GMT
The Supreme Court today decided to review its 1996 judgement in the Bhopal gas case, following which a local court had imposed a two-year jail sentence on Keshub Mahindra and six others who were executives of Union Carbide at the time of the tragedy. The apex court has issued notices to the accused and informed the attorney-general.
SC order on grain: Will take steps, says Pawar
Tue, 31 Aug 2010 19:11:00 GMT
Tue, 31 Aug 2010 19:11:00 GMT
The Supreme Court on Tuesday clarified that it was an order, not a suggestion, to the government to distribute free of cost foodgrain rotting in godowns. Tell your minister that distribution of rotting foodgrain was a part of our order and not just an observation, a two-judge bench of Justices Dalveer Bhandari and Deepak Verma told Additional Solicitor-General Mohan Parasaran, who represented the agriculture ministry.
Q1 growth climbs to 8.8% on back of manufacturing
Tue, 31 Aug 2010 19:07:00 GMT
Tue, 31 Aug 2010 19:07:00 GMT
Led by strong manufacturing and services growth, the economy expanded 8.8 per cent in the quarter ended June the fastest pace in nine quarters. Though the performance of the agriculture sector was subdued during the quarter, both the government and economists expect it to pick up in the coming quarters as kharif sowing has been healthy after good monsoons.
Tax code only from 2012
Mon, 30 Aug 2010 18:46:00 GMT
Mon, 30 Aug 2010 18:46:00 GMT
Levies up for women taxpayers, investors in Ulips and SEZ developers.
Navy torpedoes Indian private shipyards' role in new project
Sun, 29 Aug 2010 19:01:32 GMT
Sun, 29 Aug 2010 19:01:32 GMT
This is the first of a four-part special series on the countrys critical, yet significantly delayed, submarine development programme.
Cancer drugs may become cheaper after govt study
Sun, 29 Aug 2010 18:58:00 GMT
Sun, 29 Aug 2010 18:58:00 GMT
NPPAs price analysis findings could result in a mechanism to check the cost of medicines.
Sail through Mumbai traffic in 45 minutes flat!
Sat, 28 Aug 2010 18:54:00 GMT
Sat, 28 Aug 2010 18:54:00 GMT
Forget the traffic snarls or the crowded local trains. Mumbaikars staying at Borivali could take the waterway and reach Nariman Point in 45 minutes flat while enjoying the Arabian Sea breeze.
Navi Mumbai airport may take off
Fri, 27 Aug 2010 19:23:00 GMT
Fri, 27 Aug 2010 19:23:00 GMT
There is a fresh ray of hope for the new airport at Panvel in Navi Mumbai, with the environment and civil aviation ministries attempting to bridge their differences over the project.
