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Macro lessons for Indian energy infrastructure

By   /  May 23, 2018  /  Business  /  No Comments

Higher oil prices, the consequent inflationary pressures and a weaker rupee have dominated recent news headlines. While short-term measures to deal with these macro-economic trends are essential, it is also necessary to look at the long-term structural changes required to bring about stability in the Indian economy and reduce exposure to the vagaries of macro-economic […]

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Petrol price can be cut by Rs 25 per litre: Chidambaram

By   /  May 23, 2018  /  Business  /  No Comments

New Delhi, May 23 (IANS) Congress leader and former Union Finance Minister P. Chidambaram on Wednesday criticised the Centre for the fuel price hike and claimed that the rate can be reduced by Rs 25 per litre but the government is not doing it. “It is possible to cut upto Rs 25 per litre, but the […]

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Key Indian equity indices open flat

By   /  May 23, 2018  /  Business  /  No Comments

Mumbai, May 23 (IANS) The key Indian equity indices opened on a flat-to-negative note on Wednesday. At 9.18 a.m., the wider Nifty50 of the National Stock Exchange (NSE) traded at 10,525.70 points, down 11 points or 0.1 per cent from the previous close of 10,536.70 points. Similarly, the barometer 30-scrip Sensitive Index (Sensex) of the BSE, […]

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IMF expects Saudi growth to accelerate on reform program

By   /  May 23, 2018  /  Business  /  No Comments

The International Monetary Fund (IMF) said that Saudi Arabia was making good progress in implementing reforms which should spur economic expansion this year. The IMF said that the primary challenges for the government are to sustain the implementation of reforms, achieve the fiscal targets it has set, and resist the temptation to re-expand government spending […]

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SoftBank to sell entire Flipkart stake to Walmart

By   /  May 23, 2018  /  Business  /  No Comments

TOKYO: SoftBank Group Corp. said on Wednesday it is selling its roughly 20 percent stake in Indian e-commerce firm Flipkart to Walmart Inc. Walmart said earlier this month it will pay $16 billion for a roughly 77 percent stake in Flipkart, the US retailer’s largest-ever deal. A SoftBank spokesman declined to give further details. SoftBank […]

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New York Stock Exchange names first ever female president

By   /  May 23, 2018  /  Business  /  No Comments

NEW YORK (Xinhua) — The New York Stock Exchange (NYSE) has appointed its chief operating officer Stacey Cunningham the 67th President, according to a statement it released on Tuesday. Cunningham, succeeding Thomas Farley, will be the first female leader in the history of the 226-year-old exchange. She will start her new job on Friday. She […]

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China’s Xiaomi enters French market with all-new Mi MIX 2S, Redmi Note 5

By   /  May 23, 2018  /  Business  /  No Comments

PARIS (Xinhua) — Chinese technology giant Xiaomi Inc. on Tuesday announced its entry into the French market by bringing the all-new Mi MIX 2S and Redmi Note 5, along with a wide range of internet of things (IoT) products, to local customers. “We are excited to bring this stunning upgrade of our premium flagship Mi […]

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UK inflation slows to 2.4 pct

By   /  May 23, 2018  /  Business  /  No Comments

LONDON: Annual inflation in Britain was 2.4 percent in April, down from 2.5 percent in March, the Office of National Statistics (ONS) announced Wednesday. April’s consumer price index (CPI) 12-month rate of 2.4 percent is the lowest level since March 2017. The largest downward factor in the change came from airfares, with rising motor fuel prices […]

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Borsa Istanbul shows confidence in Turkish lira

By   /  May 23, 2018  /  Business  /  No Comments

ISTANBUL : The Borsa Istanbul Group announced on Wednesday that it converted all its foreign exchange assets, excluding short terms needs, into Turkish lira. “It is seen that speculative approaches for showing Turkish economy as negative before elections [on June 24] are not backed by current indicators. As Borsa Istanbul we would like to reemphasis our […]

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Demand for ‘healthy food’ increases organic product exports from India

By   /  May 23, 2018  /  Business  /  No Comments

New Delhi, May 23 (IANS) Exports of organic products from India have risen over 20 per cent in the fiscal just ended owing to the “growing global appetite for healthy food” that is free from chemicals and pesticides residues. This is also a leg-up for the government’s plans to expand the area under eco-friendly and sustainable […]

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