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India's Modi moves to reform problem-plagued coal industry NEW DELHI: India's government has pledged to open up the coal mining industry to private players in the energy-starved country as Prime Minister Narendra Modi unleashes promised reforms to revive the ailing economy.Modi's right-wing government approved an ordinance late Monday allowing auctions of coal mines to private companies for their own use, as well as permitting some firms to sell the fuel in the future.The ordinance -- or executive order -- takes the first steps towards ending a four-decade monopoly on mining and selling coal after the industry was nationalised in 1972 creating Coal India, one of the world's biggest miners.The sector, plagued by inefficiencies, poor infrastructure and government red-tape, has long struggled to increase production to meet the electricity needs of the country's 1.25 billion population."It was decided to issue an ordinance in the cabinet," Finance Minister Arun Jaitley told reporters at a briefing on the issue."The entire coal ...

China says its economic growth still reasonable BEIJING: China's economic slowdown in the third quarter was due to structural reforms in the nation, a sagging housing market and higher comparison figures from a year ago, the statistics agency said, but noted that growth stayed in a "reasonable range". Sheng Laiyun, spokesman of the National Bureau of Statistics, also said consumption contributed to 48.5 percent of China's economic growth in the first nine months of the year, eclipsing investment which accounted for only ...
China September industrial output up 8.0pc on-year: govt BEIJING: China's industrial production, which measures output at factories, workshops and mines in the world's second-largest economy, rose 8.0 percent year-on-year in September, the government announced Tuesday.Retail sales, a key indicator of consumer spending, expanded 11.6 percent in the same month, the National Bureau of Statistics said, while fixed asset investment, a measure of government spending on infrastructure, rose 16.1 percent on-year in the first nine months of the year.Copyright AFP (Agence France-Presse), 2014 ...
Portugal Jan-Aug current account surplus shrinks LISBON: Portugal posted a current account surplus of 344 million euros ($439 million) in the first eight months of 2014, a 29 percent drop from a year ago, but back from a deficit accumulated this year through July, the Bank of Portugal said on Monday.Portugal, which exited an international bailout in May, also turned out a surplus of 1.88 billion euros in the combined balance of trade in goods and services in the period, down ...
Germany risks recession, in Bundesbank's bleak outlook FRANKFURT: Germany risks coming dangerously close to recession, the central bank said on Monday in a forecast that predicted little or no economic growth in the second half of the year.In the Bundesbank's gloomy assessment, the euro zone's biggest economy will stay weak, compounding the problems of the 18-country bloc, where the economy is already slowing to a virtual halt.In its monthly bulletin, the Bundesbank predicted little improvement to Germany's recent weak performance, cautioning that ...
India's finance ministry wants to reimpose curbs on gold imports NEW DELHI: India's Finance Ministry has written to the central bank to consider reimposing some restrictions on gold imports after inbound shipments surged in the last few months, widening the trade deficit, the Economic Times reported on Monday.The central bank eased some gold import rules in May by allowing seven more private agencies to ship in the precious metal, driving a sharp jump in overseas buying despite a record import duty of 10 percent.A 450 ...
Singapore Sept core inflation rate seen unchanged vs August SINGAPORE: Singapore's annual core consumer inflation probably held steady at 2.1 percent in September, a Reuters poll showed, while all-items inflation was likely to pick up from a six-month low.The all-items consumer price index (CPI) probably rose 1.0 percent in September from a year earlier, according to a Reuters survey of 12 economists. In August, headline CPI had risen 0.9 percent from a year earlier, the lowest increase since February.Some economists said that a recent ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln