Home » Archives
Australia’s economic outlook remains subdued: Survey
Published on 23 Feb, 2012 at 8:50 in Business-Feature | Viewed 1 views times | No Comments
Sydney: Australian economic outlook improved slightly in December 2011, but the growth rate of future economic activity remains subdued, according to a survey released Wednesday by Westpac Banking Corporation and the Melbourne Institute.
The annualized growth rate of the Westpac/Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future, was 2.3 per…
More Kingfisher flights hit, government rules out bailout
Published on 21 Feb, 2012 at 20:34 in Business-Feature | Viewed 9 views times | No Comments
New Delhi/Mumbai: Around 35 flights of Kingfisher Airlines were cancelled Monday, disrupting operations for third day in a row and the Indian government queered the runway ruling out a bailout for the cash-strapped carrier. The airline was also asked to explain the reasons behind flight cancellations.
The airline is operating only 16 of its fleet of 64 planes and has cancelled…
Australian Reserve Bank leaves cash rate unchanged
Published on 8 Feb, 2012 at 9:10 in Business-Feature | Viewed 39 views times | No Comments
Sydney: The Reserve Bank of Australia (RBA) announced Tuesday its decision to leave the cash rate unchanged at 4.25 per cent following its February board meeting.
The decision surprised the market as economists expected a quarter of a percentage point rate cut, reported Xinhua.
RBA Governor Glenn Stevens said in a statement that the acute financial pressures on banks in Europe were…
“India to grow faster in 2012-13”
Published on 1 Feb, 2012 at 5:38 in Business-Feature | Viewed 30 views times | No Comments
New Delhi: The Indian economy would grow a little over 7 per cent this fiscal ending March 31, and it would turn around in 2012-13, the government’s Chief Economic Adviser Kaushik Basu said Tuesday.
“In the current financial year, growth rate will be less than 7.5 per cent for sure, may be just a little bit above 7 per cent,” Basu…
Largest-ever Australian trade mission to visit India
Published on 28 Jan, 2012 at 7:39 in Business-Feature | Viewed 92 views times | No Comments
Melbourne: Premier of Australia’s Victoria state Ted Baillieu is all set to lead the largest-ever Australian trade mission to India in February.
More than 100 leading Victorian companies, ministers and officials would participate in the Super Trade Mission to India, the premier said Friday at the office of the Consul General of India in Melbourne.
“The size and scope of this Super…
Overseas Indian workers to get pension, life insurance
Published on 8 Jan, 2012 at 5:07 in Business-Feature | Viewed 127 views times | No Comments
Jaipur: The Indian government Saturday launched a special pension and life insurance scheme that would benefit over 5 million unskilled and semi-skilled workers employed overseas mostly in Gulf countries on temporary contract visas.
The government has created a special fund called Pension and Life Insurance Fund which will be used to partly contribute to a pension and insurance cover to the…
“India may end 2011-12 with 7 per cent growth”
Published on 22 Dec, 2011 at 2:59 in Business-Feature | Viewed 113 views times | No Comments
Mumbai: Economic deceleration is expected to continue in the third quarter of 2011-12 and India may end the financial year with a 7 per cent GDP growth rate, Deputy Chairman of the Indian Planning Commission Montek Singh Ahluwalia said here on Wednesday.
“So far, we are not sure whether in Q3, the deceleration will end. October index of industrial products was…
RBI intervenes as rupee slides to new low
Published on 15 Dec, 2011 at 22:44 in Business-Feature | Viewed 147 views times | No Comments
New Delhi: Under pressure from the global financial uncertainty and weak domestic economic data, the Indian rupee sank to a record low for the fourth straight day on Thursday, hitting 54.30 against the dollar, but recovered later as the central bank intervened.
As the rupee fell to another low, the Reserve Bank of India (RBI) nudged state-owned banks to sell dollars….
Rupee hits new low; RBI intervention eyed
Published on 13 Dec, 2011 at 7:43 in Business-Feature | Viewed 128 views times | No Comments
Mumbai: The slide in the Indian rupee continued Tuesday, dropping to another all-time low at 53.29 per dollar intra-day as demand for the green-back from importers and banks rose amid global uncertainty that left investors opting for the US currency.
A depreciating rupee will make oil imports costlier, again increasing pressure on oil retailers to hike prices of at least de-regulated…
“Impatient people have lower credit scores”
Published on 4 Dec, 2011 at 23:28 in Business-Feature | Viewed 105 views times | No Comments
Washington: Impatient people default on their mortgages, because they are more likely to choose immediate gain over a larger reward later, researchers say.
“Most often, the reasons economists put forward are, maybe there was not enough screening for mortgage applicants, or securitization, or other institutional reasons,” said economist Stephan Meier from the Columbia University.
“That’s definitely important, but in the end humans…
