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Indian investigators drop coal scam case against billionaire Birla NEW DELHI: India's Central Bureau of Investigation (CBI) has closed a coal scam case against billionaire Kumar Mangalam Birla and a former top bureaucrat that emerged in 2012 after an auditor's report on revenue loss to the exchequer from allocations of coal blocks.The CBI filed the case against Birla and former Coal Secretary P.C. Parakh last year in relation to a block allocated in 2005 to Hindalco Industries, part of the $40 billion Aditya Birla Group led by Kumar Mangalam Birla."The evidence collected during investigation did not substantiate the allegations levelled against the persons named in the FIR (first information report filed in the case)," the CBI said in a statement late on Friday.India's federal auditor had alleged that the government's allocation of coal blocks may have cost the exchequer revenues of about $33 billion, although industry watchers and the previous government have cast doubts on the figure. Indian media ...

Banking for all to end ‘financial untouchability’: Modi NEW DELHI: Indian Prime Minister Narendra Modi promised on Thursday to end "financial untouchability" with a scheme to ensure the majority of households in his country of nearly 1.3 billion people has a bank account within months.If successful, the scheme could help mend strained state finances by better targeting billions of dollars in welfare spending as well as relieving poverty in a country where about 40 percent of the population has no access to banking."Mahatma ...
Abdullah boycotts Afghan election audit: spokesman KABUL: Afghanistan's fraud-hit election teetered on the brink of collapse Wednesday when one candidate boycotted the UN-supervised vote audit set up to end a prolonged dispute over the rightful winner."We will not join the process today, and maybe we will not re-join the process at all," Fazel Aqa Hussain Sancharaki, a spokesman for Abdullah Abdullah, told AFP.Copyright AFP (Agence France-Presse), 2014 ...
Bangladesh court charges 147 opposition supporters over blast DHAKA: A court in Bangladesh on Monday ordered the trial of nearly 150 people, including senior leaders of the main opposition party, over an explosion outside their headquarters last year.The move to charge 147 people with setting off explosives in the capital Dhaka came as the opposition mounted fresh protests to try to unseat a government they say is illegal.Hundreds of opposition supporters have been charged since violent protests over disputed elections held in January ...
Temple stampede in central India kills at least 10: official NEW DELHI: A stampede killed at least 10 people and injured more than 60 in the central Indian state of Madhya Pradesh on Monday as pilgrims gathered at a temple, an official said."A stampede broke out very early this morning, around 5:30 or so, where five women and five men have died," police control room official Vinay Kumar Singh told AFP by phone."The place is still very chaotic and crowded, but police and ambulances have ...
Western Iran hit by quake of magnitude 5.2 SINGAPORE: A shallow earthquake of magnitude 5.2 struck northwest of the western Iranian city of Dezful on Sunday, the US Geological Survey said, some 300 miles (480 km) from Tehran, the capital. There were no immediate reports of casualties. The depth of six miles was the same as that of a 6.3-magnitude quake which hit the same area on Aug. 18, injuring 60 people. Sunday's quake hit 38 miles west northwest of Dezful. Copyright Reuters, ...
India's Jaitley to tighten up banking risk management NEW DELHI: Indian Finance Minister Arun Jaitley said on Thursday that the government was working to tighten up risk management in the banking sector. Jaitley, in a speech, said that some recent incidents in the banking sector had been "disturbing" and expressed the hope that they would not be repeated. He did not name any banks, but his comments followed the opening of an investigation into whether the head of state-controlled Syndicate Bank accepted bribes ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln