6.3 percent of Goa’s GDP comes from foreign remittance: Study

July 30th, 2009 DHAKA - Bangladesh could receive $10.87 billion in remittances in the current fiscal from its vast manpower employed abroad if the global oil price does not fall, the World Bank has said. It has said that remittance inflow increases when a country's economy goes through hardship.

July 19th, 2009 MUMBAI - Allahabad Bank is adding MoneyGram International's money transfer services to its core banking service branch locations. Allahabad Bank offers locations countrywide in India's largest cities and services to cities and rural communities especially across Uttar Pradesh and West Bengal.

July 17th, 2009 NEW DELHI - The government Friday said it has fined private carrier Kingfisher Airlines Rs.26.46 crore for delay in remittance of tax deducted at source (TDS). Minister of State for Finance S.S.

July 15th, 2009 PANAJI - More than the terror threat in the aftermath of the Nov 26 attacks, it was the media hype about it that ruined Goa's tourism party in December and January, Chief Minister Digambar Kamat said here Wednesday. "All (TV news) channels were showing Goa is under threat.

July 13th, 2009 WASHINGTON - The worldwide recession has led immigrants in wealthy countries to cut back sharply on how much money they send back to their home countries, according to a World Bank report released Monday. Remittances to developing countries jumped 15 percent in 2008 to $328 billion, but will plummet 7.3 percent in 2009, the World Bank predicted, revising its earlier forecast of a 5-percent decline this year.

July 6th, 2009 PANAJI - Neither Goa Chief Minister Digambar Kamat nor the captains of industry have acknowledged any specific benefit to the state's crucial tourism industry in the union budget presented Monday. While the Congress chief minister in his formal reaction welcomed the budget for its thrust on rural development and listed a string of generic highlights, Kamat failed to acknowledge how the financial exercise would specifically benefit Goa.

June 18th, 2009 NEW DELHI - Indian corporates could slow down investment in the US if the strict American policy on issuing temporary visas is not relaxed, says a study by a leading industry lobby and a global consultancy. "The tight-fisted US policy on the grant of H-1B visas to Indian employers may dampen the appetite of Indian corporates for investing in the US," said Federation of Indian Chamber of Commerce and Industry (FICCI) and consultancy Ernst and Young in a statement Thursday.

June 6th, 2009 THIRUVANANTHAPURAM - Goa received nearly Rs.800 crore (Rs.8 billion) in remittances last year from 56,000 emigrants settled abroad, a official study on Goan diaspora has revealed. Goa Migration Study is a joint project by the state government's office of the commissioner for non-resident Indian affairs, the union ministry of overseas Indian affairs and the Centre for Development Studies (CDS) here.

April 24th, 2009 NEW DELHI - Despite the global slowdown and recession in Europe and the US, India expects at least $40 billion as foreign direct investment (FDI) in the current fiscal, a senior industry ministry official said here Friday. 'The overall outlook for foreign investment is positive.

March 30th, 2009 KOLKATA - City-based Allahabad Bank signed a pact Monday with the Gulf-based money transfer and exchange house UAE Exchange and Financial Services for promoting its own money transfer services, the company said here. According to the state-owned bank's chairman and managing director K.R.

March 14th, 2009 MUMBAI - Reliance Money Express (RME), the cash transfer arm of the Reliance-Anil Dhirubhai Ambani Group (R-ADAG), Friday said it will acquire controlling stake in Britain-based money changer No1 Currency. 'While looking for opportunities to widen our services internationally, we found that No1 Currency offered a strong proposition both in terms of synergy and added value,' said RME director and chief executive Sudip Bandyopadhyay.

March 1st, 2009 The economic crisis in the United States and Britain is reportedly forcing many NRIs to dip into their savings and assets back home. Due to job losses, default of mortgage payments and losses in their businesses, some NRIs are cashing their foreign currency demand deposits in India to stay afloat.

February 24th, 2009 PANAJI - Goa's Rs.60-billion (Rs.6,000-crore) low-grade iron ore exports are expected to fall 50 percent this fiscal, an industry leader said here Monday. While exports this year have shown a marginal drop in terms of volumes, the actual revenue earned has shrunk considerably, Shivanand Salgaocar, president of the Mineral Ore Foundation (MOF), told reporters.

January 30th, 2009 NEW DELHI - Industry body Federation of Indian Chambers of Commerce and Industry (FICCI) Saturday urged the government to offer more incentives to the domestic auto industry and encourage foreign investment in the sector. In a study on 'Automotive Policies And Incentives in Developing Countries', the FICCI said the automotive industry in several developing countries were growing fast with the assistance of their respective governments.

December 23rd, 2008 THIRUVANANTHAPURAM - The impact of the global economic crisis on Kerala would depend on what happens in the Middle Eastern economies, said a report by the city-based Centre for Development Studies (CDS). The CDS, which was asked to prepare the report on the global slowdown, has identified six possible areas that could affect the state economy.