Moneycontrol Economy News

Forex reserves down $616.4 mn to $293.69 bn

Sat, 18 May 2013 12:27:20 +0530

The forex reserves of the country have slipped for the second consecutive week, dipping by USD 616.4 million to USD 293.69 billion on a fall in currency assets, said RBI on Friday.

India looking to set up feeder fund for IDFs: Chidambaram

Sat, 18 May 2013 12:10:56 +0530

India is looking to set up a London-listed 'feeder fund' for Infrastructure Debt Funds (IDFs), and also to work with the UK on increasing institutional investments in the sector, said finance minister P Chidambaram.

US paves way for shale gas export to India

Sat, 18 May 2013 11:57:47 +0530

Opening up the prospects of export of shale gas to energy starved India, the US today granted conditional authorisation to export domestically produced liquefied natural gas (LNG) to nations that do not have Free Trade Agreement (FTA) with it.

RBI to take note of falling inflation in next policy review

Sat, 18 May 2013 11:51:23 +0530

RBI to take into account falling inflation while deciding on policy initiative in its review next month.

Expectation of stable outlook by SP warranted: Yes Bank

Fri, 17 May 2013 22:17:04 +0530

The expectation of a stable outlook was warranted, perhaps as this has been work-in-progress since September 2012, says Shubhada Rao, president chief economist, Yes Bank, reacting to Standard Poor’s affirmation its ‘triple B minus’ long-term and ‘A-3’ short-term unsolicited sovereign credit ratings on India.

SP report not much of surprise: Arvind Mayaram

Fri, 17 May 2013 21:30:33 +0530

Reacting to the SP report on India, Arvind Mayaram, economic affairs secretary said the report does no come as a surprise. But he says that the country is on the right track and the reform process will continue.

SP affirms BBB - rating on India, hints at downgrade

Fri, 17 May 2013 20:31:10 +0530

Despite the finance ministry making the pitch for an upgrade and the reform measures that have been undertaken in the last six months, SP has maintained its outlook on India, reason being macros like a huge CAD and fiscal deficit.

SP rating signals Indian economy not out of woods yet

Fri, 17 May 2013 18:34:39 +0530

SP's affirmation of negative outlook on Indian economy signals that it is not on ‘road to recovery’ as perceived by the market.

Government to step up coal quality checks

Fri, 17 May 2013 16:43:18 +0530

Indian utilities have also become increasingly reliant on imported coal because domestic production is lagging demand, but the quality of many supplies is dropping.

Expect 7.15-7.18% on new 10-year bond yield: Nomura

Fri, 17 May 2013 15:56:11 +0530

The fall in inflation has brightened the prospect of a rate cut in July feels Vivek Rajpal of Nomura India.

SP affirms negative India outlook, downgrade threat looms

Fri, 17 May 2013 15:49:44 +0530

The ratings agency, however, said there was scope to upgrade the sovereign ratings if the government unleashes public and private investments to spur economic growth.

Issuance volume for securitisation drops 20% in FY13: ICRA

Fri, 17 May 2013 15:37:13 +0530

Helped by a reclassification of priority sector lending guidelines wherein wherein bank finance to non-bank lenders no longer qualifies as PSL, banks were the most active ones in the securitisation market to meet targets as eligible loan receivables are classified as PSL, ICRA said.

RBI can buy $9 bn more forex from market: BofA-ML

Fri, 17 May 2013 14:48:32 +0530

The Reserve Bank can buy USD 9 billion according to the balance of payments estimates and after assuming the Brent crude to be at USD 110 a barrel.

China, India to be top investors among developing nations

Fri, 17 May 2013 13:48:37 +0530

China and India are expected to be the largest investors, with the two countries together accounting for 38 per cent of the global gross investment in 2030, says a World Bank report. All this will change the landscape of the global economy

Osborne lauds Chidambaram efforts to revive Indian economy

Fri, 17 May 2013 12:56:41 +0530

People had some questions a year or two ago, but Mr Chidambaram has settled those doubts and the reforms he has proposed; the retail reforms, pension bill, among others are a real sign of India's commitment to wanting to trade with the world,Osborne said.