A nuclear test would damage India-US ties, warns NYTOctober 12th, 2009 WASHINGTON - An influential US daily Monday advised the Indian government to resist pressures to test a nuclear weapon, and said it would be a huge setback for New Delhi's relations with Washington and the battle against terrorists. "Indian nuclear scientists are trying to bully their government into testing a nuclear weapon," the New York Times suggested in an editorial titled, "Just Say No."
"Prime Minister Manmohan Singh is resisting.
BT's India call centre pull back plans hit over excessive working hoursSeptember 1st, 2009 LONDON - British telecom giant BT's plans to cut 2,000 call centre jobs in India to provide permanent positions for UK staff during the recession have taken a major hit, over worries whether British workers would put in the stifling hours. Keeping the recession in mind BT, which had moved 5,500 call centre jobs to India in 2003, had said that it was preparing to repatriate the jobs.
India to get $4.78 bn SDRs to battle recessionJuly 20th, 2009 WASHINGTON - India has been allocated the equivalent of about $4.78 billion as its share of International Monetary Fund's Special Drawing Rights (SDR) worth $250 billion announced Monday to provide liquidity to the recession hit global economic system. The equivalent of nearly $100 billion of the new allocation to supplement IMF's 186 member countries' foreign exchange reserves will go to emerging markets and developing countries, of which low-income countries will receive over $18 billion, IMF said.
No large-scale impact of recession on Indian workers abroadJuly 8th, 2009 NEW DELHI - Minister of Overseas Indian Affairs Vayalar Ravi on Wednesday notified that Indian Missions in the Gulf Countries in Saudi Arabia, Oman, Kuwait, Bahrain and Qatar have not reported any large scale adverse impact of the global economic slowdown and recession on Indian workers, though there has been reports of some job losses. The Indian Mission in United Arab Emirates (UAE) has reported that accurate figures of return of Indian workers are not available, however, it is estimated that 50,000 to 1,50,000 workers have returned to India due to delay in execution of projects as a result of economic slow down and recession.
Protectionism would deepen recession, delay recovery: IndiaJune 19th, 2009 WASHINGTON - India has cautioned nations toying with protectionist measures in the wake of the global economic crisis that such a move would not only be counterproductive, but also deepen the recession and delay recovery. "Any kind of protectionism will not only be counterproductive, but deepen the recession and delay the recovery," Commerce and Industry Minister Anand Sharma told reporters Thursday at the end of his three-day visit for talks with the US officials.
India has borne global financial crisis well: PMJune 17th, 2009 ON BOARD AIR INDIA ONE - With the Indian economy showing signs of recovery, Prime Minister Manmohan Singh Wednesday said the country had borne the global downturn "well" and called for a new world economic architecture. "We live in times of rapid economic change when the BRIC economies are a factor of stability and growth," Manmohan Singh told journalists while returning from Russia.
Kremlin adviser: Russia may put part of its currency reserves in bonds of China, Brazil, IndiaJune 16th, 2009 Russia may put some reserves in BRIC bondsYEKATERINBURG, Russia — The Kremlin's top economic adviser says Russia may put part of its currency reserves in bonds issued by Brazil, China and India. Arkady Dvorkovich says Russia could make the move if the other three nations reciprocate.
Anand Sharma reiterates need for equal rights for Lankan TamilsApril 27th, 2009 RAJKOT - Congress spokesman and Minister of State for External Affairs Anand Sharma on Monday reiterated the need for equal rights for Sri Lankan Tamils, saying that they should be helped with a healing touch from a humanitarian angle. "There is humanitarian situation in Sri Lanka.
India to seek $5.2 bn more from World BankApril 4th, 2009 LONDON - Assured of a greater say in the affairs of multilateral lending institutions, India will seek additional assistance of $5.2 billion from the World Bank for its financial sector and infrastructure projects, officials said. India normally gets assistance worth $3 billion from the World Bank annually.
India to seek $5.2 bn from World BankApril 3rd, 2009 LONDON - Assured a greater say into the affairs of multilateral lending institutions, India will seek additional assistance of $5.2 billion from the World Bank for its financial sector and infrastructure projects, officials said. The main component of this assistance is for recapitalisation of state-owned commercial banks over the next two to three years, Indian officials here said.
Manmohan Singh demands $500 bn more for developing worldApril 2nd, 2009 LONDON - Drawing lessons from history, Prime Minister Manmohan Singh warned rich nations against protectionism and called for $500 billion fresh funds from the Internmational Monetary Fund (IMF) to help developing countries cope with the worst financial crisis in six decades. An issue of vital concern to developing countries is the rise of protectionist sentiment in the industrialised world, the prime minister told a dinner hosted by his British counterpart Gordon Brown for G20 leaders Wednesday.
G20 leaders pledge $1 trillion to kick start global economyApril 2nd, 2009 LONDON - World leaders Thursday agreed to pledge $1 trillion more to the International Monetary Fund and other institutions to tide over the worst financial crises in six decades, bringing with it the promise of a greater role for emerging economies like India in the running of the global financial system. The leaders also agreed to negotiate a speedy conclusion of the Doha trade round and put some $250 billion more for trade finance, both of which were key demands from India, represented by Prime Minister Manmohan Singh.
Russia to call for new reserve currency at G20March 30th, 2009 MOSCOW - Russia will insist at the upcoming G20 summit in London that discussions are initiated into the possibility of creating a new world reserve currency, a Kremlin economic adviser said Monday. 'There are nuances in relation to the priorities of particular topics.
Antony hopes for hike in 2009-10 defence budgetFebruary 10th, 2009 BANGALORE - Defence Minister A.K. Antony Wednesday hoped that the defence budget for fiscal 2009-10 beginning April 1 would rise despite the recession the Indian economy was going through.
India to grow at 7-7.5 percent: Ashok ChawlaJanuary 16th, 2009 NEW DELHI - The Indian economy is now projected to grow between 7 and 7.5 percent in the current fiscal, a top official said here Saturday. 'With the presence of strong domestic demand stimulus, India is expected to maintain a strong pace of economic growth despite continuation of global recession,' Ashok Chawla, secretary of the department of economic affairs, said in his inaugural address at the third India China Financial Dialogue.
Loading ...