India can grow 8-9 percent despite challenges: Montek
NEW YORK (IANS) India can grow at 8 to 9 percent for the next 20 years despite many domestic challenges, Indian Planning Commission’s Deputy Chairman Montek Singh Ahluwalia said and urged the international community to take supportive measures like resolving the European sovereign debt problem and concluding the Doha Round of trade libralisation talks early [...]
India to get gas from Turkmenistan
NEW DELHI (IANS) India will now get natural gas from the Central Asian nation of Turkmenistan after the union cabinet Thursday approved its purchase through the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project. The cabinet, chaired by Prime Minister Manmohan Singh, approved the proposal of the ministry of petroleum and natural gas to permit GAIL (India) Ltd. to [...]
Spanish firm plans $615 mn solar energy project in Chile
SANTIAGO Spain’s Eosol Energy plans to build a $615 million solar energy project in Tocopilla, a town in northern Chile. The project will have generating capacity of 192.6 MW, the company said in an environmental impact statement. Power produced at the solar energy park will be sold to the Norte Grande Interconnected System, which [...]
Sri Lanka plans tea hub, imports from India, China
COLOMBO (IANS) Sri Lanka‘s tea exporters are lobbying for liberalized imports to expand the industry and make it into a tea hub by blending high quality tea from China, India and Kenya, an official said here Wednesday. Sri Lanka‘s Tea Exporters Association (TEA), whose members export 83 percent of tea, insisted that a proposal to [...]
Germany to give $190 mn to Afghanistan after 2014
Berlin Germany will give 150 million euros ($190 million) worth of cash aid to Afghanistan a year after international peacekeeping forces pull out on schedule in 2014 as part of an agreement signed by both countries Wednesday. Chancellor Angela Merkel said the aid to Afghanistan was a reflection of Germany‘s long-term commitment to the country, [...]
Sharma to review export sector on Thursday
NEW DELHI Worried over the declining economic growth and an anticipated decline in exports due to slowdown in global economies, the government has gone into a review and stock taking mode to work out a strategy to deal with the emerging difficult situation. As a part of this exercise, Commerce and Industry Minister Anand Sharma [...]
Rupee hits all-time low of 54.56
Mumbai The rupee today plunged against the the dollar to a historic low of 54.56 before closing slightly better at 54.50 despite RBI‘s intervention, raising widespread concerns about the health of the economy. Forex dealers attributed the fall to strong capital outflows in tune with the fall in local as well as global stocks where [...]
Rupee up 4 paise against dollar in early trade
MUMBAI The rupee moved up marginally by 4 paise to trade at 53.59 against the dollar on the Interbank Foreign Exchange market in early trade today on increased foreign fund inflows amid a higher opening in the equity market. Dealers said increased foreign funds inflows amid a better opening in the domestic equity market, supported [...]