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Archive for the ‘News’ Category

Intl Airlines cautious of stakes in Indian aviation

Several major international airlines seem to be wary of picking up stakes in the loss-making Indian carriers at this stage, even as the government plans to take steps to allow them to do so.Even before the government formally notified changes in the aviation policy that currently bars foreign carriers from investing in Indian airlines, officials and spokespersons of major international airlines have said they were not interested in investing in the Indian aviation market.

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Indian currency most undervalued: Burgernomics

As per the latest Big Mac index, compiled by the Economist magazine to analyse purchasing-power parity of various global currencies, Indian rupee is most undervalued.

The price of Big Mac burgers of McDonald`s is considered for the index for the reason of the presence of fast-food chain across most of the countries and the magazine calls this theory `burgernomics`.

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India in a better position to tackle slowdown

The International Labour Organisation (ILO) think India is expected to withstand the latest global slowdown better than most countries, if it ensures rising income levels for the working class and enough jobs for a growing working-age population.

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Africans want to follow India’s development model

Impressed by the efforts of social entrepreneurs to make the public delivery service more effective, five African countries want to emulate the Indian models of development, said Sam Pitroda .

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Gold open new market for loans

With credit demand has been declining because of high interest rates, banks have stepped up lending against the glittering yellow metal. Financing against gold being a secured form of lending, and higher margins are the key reasons why banks are expanding this portfolio.

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India among the most innovative country

India has been ranked the sixth most “innovative” country in the world in multinational conglomerate GE’s Annual Global Innovation Barometer, driven by financial support from public authorities and long-term support from investors.

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Govt to consider FDI in India aviation

India’s troubled airline industry saw a potential lifeline on Tuesday when the Aviation Ministry said it would ask that the government to allow foreign airlines to buy stakes of up to 49 percent in Indian carriers.

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India ranks 123rd as free economically country

India’s economic freedom score is 54.6, making its economy the 123rd freest in the 2012 Index of Economic Freedom, after Pakistan which ranked 122.

 Countries are ranked based on measures including rule of law, how open their markets are, regulatory efficiency and size of government.

“India’s score is unchanged from last year, with an improvement in labor freedom offset by declining scores in five other areas including business freedom, freedom from corruption, government spending, and monetary freedom,” the Heritage Foundation said.

India is ranked 25th out of 41 countries in the Asia–Pacific region, and its overall score is below the world average.

The reasons, it said, are that the foundations for long-term economic development remain fragile in the absence of an efficiently functioning legal framework, despite a high economic growth.

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Reliance buyback could be biggest in Indian history

The buyback of shares announced by Reliance Industries has created excitement and interest amongst market participants.
Buy backs are considered positive because it shows that the management has belief in the company’s performance.

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Indian PEF investments worth $ 10.11 billion in 2011

A report by research firm Venture Intelligence says, Private equity firms made investments worth USD 10.11 billion in India during 2011, taking their total investment over the past five years to about USD 47 billion.

In 2011, investments worth USD 10.1 billion were announced by way of 441 deals, compared to USD 8.1 billion through 362 deals in the previous year.

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Indian bureaucracy worst in Asia

According to a report by a prestigious consulting firm based in Singapore, Indian bureaucracy is the worst in Asia with a 9.21 rating out of 10,

India fared worst than Vietnam (rated at 8.54), Indonesia (8.37), Philippines (7.57) and China (7.11), said the report released today by Hong Kong-based Political & Economic Risk Consultancy Ltd.

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Insurance sales witness decline

Insurance companies have been witnessing a steady decline both in policy sales and premium income even as they are trying to cope with regulatory hurdles.

Throughout the last calendar year, a number of private life insurers such as Aviva, Tata AIG, ING Vysya, Kotak Life and IDBI Federal launched children education plans to turn the tide in sales but with little effect.

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New pension, life insurance scheme for overseas workers.

Fulfilling a long-standing demand, the Prime Minister, Dr Manmohan Singh, today announced a new pension and life insurance scheme for overseas Indian workers that would allow over five million workers, especially those working in the Gulf, to save money for the future.

Announcing the Government’s decision to introduce and sponsor the Pension and Life Insurance Fund at the 10th Pravasi Bharatiya Divas here, Dr Singh said the scheme will encourage the overseas workers to voluntarily save money for their resettlement and old age.

“I am happy to inform you that the government has decided to introduce and sponsor a new Pension and Life Insurance Fund for overseas Indian workers.

“The scheme will encourage, enable and assist overseas workers to voluntarily save for their return and resettlement and old age,” Dr Singh said in his address that was heard with rapt attention by over 1,900 delegates from 60 countries.

He said the scheme, which was recently cleared by the Cabinet, will also provide a low-cost life insurance cover against natural death.

“This scheme fulfils a long-pending demand of our workers abroad,” he said.

Under the scheme, the Government will co-contribute Rs 1,000 per annum for all subscribers who contribute between Rs 1,000 and Rs 12,000 per year. Women overseas workers will enjoy a special additional co- contribution of Rs 1,000 a year.

Referring to his Government’s decision to allow Non-Resident Indians to vote in elections, he said pursuant to the law in this regard the Government has issued notifications for registration of overseas Indians under the Representation of People Act, 1950.

Source – PTI

Indian economy may do better in 2013

India’s economy will likely grow faster next fiscal year than in 2011/12 because of an improved external environment and a shift in policy focus from containing inflation to growth, a top government adviser said on Wednesday.

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Foreigners can directly invest in Indian stocks

India is encouraging rich foreign individual investors to buy and sell shares in our stock markets. The government is now looking to this category of investors to bring in more foreign capital.

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