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Dr. Manmohan Singh’s speech at the G20 meet
Mr. Chairman,
We are meeting at a time of exceptional difficulty for the world economy. The financial crisis, which a year ago seemed to be localized in one part of the financial system in the US, has exploded into a systemic crisis, spreading through the highly interconnected financial markets of industrialized countries, and has had its [...]
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Iron ore prices on the rise
BHP Billiton Ltd, one of the 3 major iron ore exporters, has struck a price increase of 97% from Chinese Steel makers for the iron ore lumps for 2008-09.This is similar to the agreement of Rio Tinto Group with Baosteel Corporation of China. For the iron ore fines, the price increase is around 79.8 %.
National [...]
State Bank of India expects RBI to Tighten Money
State Bank of India Chairman O P Bhatt today said he expects moderate monetary tightening in Reserve Bank of India’s quarterly review due next Tuesday. He indicated that the central bank could raise the cash reserve ratio, or the proportion of deposits that banks kept with RBI, by 25 basis points. [...]
Read More >>Prime Minister Singh Survives Vote, Lays Policy Agenda
Prime Minister Manmohan Singh and his Congress Party coalition survived a no confidence vote, getting a needed political boost ahead of a general election and the backing to secure a nuclear deal with the U.S. The government’s victory, by a 275-256 margin with 10 abstentions, was wider than many had [...]
Read More >>17 more blasts in Ahmedabad, 100 feared injured, 15 killed
AHMEDABAD - Terror struck another big Indian City in Gujarat when 17 serial blasts ripped across Ahmedabad on Saturday evening leaving 15 killed and 100+ feared injured sending a wave of panic. This comes one day after India’s IT capital, Bangalore was rocked by about 7+ blasts leaving 2 dead and several injured.
The explosions [...]
Sensex falls as serial blasts hit IT capital: Banagalore
Bangalore - The IT capital of India was hit by serial blasts today. Various sources put the blasts tally between 7 - 9 as 2 people were killed and several others were injured. Police said the city was on high alert for more attacks, with bomb disposal teams and forensic experts rushed into action. Authorities [...]
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