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India to issue land reform order to get around political deadlock NEW DELHI: India will issue a new decree this week for land purchases that has stirred disquiet across the country but which the government says is necessary to build roads, ports and power stations for higher economic growth.Billions of dollars of infrastructure projects are held up because of the difficulties involved in acquiring land under a law that requires approval of 80 percent of the affected landowners as well as carrying out a social impact assessment study.Prime Minister Narendra Modi has made amending the law the centrepiece of the reform effort in the first year of his administration.The rural development ministry is preparing a new ordinance or an executive order to replace an earlier one that expires on April 5, an official in the ministry said on Monday.It will have the same amendments which were approved by the lower house of parliament, the official said, making it easier to buy ...

Japan govt weighing income tax hike on wealthy to meet fiscal goal: sources TOKYO: Japan's government is considering raising income taxes for the wealthy and increasing the inheritance tax if it looks unlikely to reach its goal of returning to a primary budget surplus in 2020, government sources said.Prime Minister Shinzo Abe's government plans to raise the nationwide sales tax to 10 percent from 8 percent in April 2017 to help pay for rising welfare and healthcare costs."Abe is determined to not raise the sales tax any further," ...
Sri Lankan president's brother dies after axe attack COLOMBO: The youngest brother of Sri Lankan president Maithripala Sirisena died in hospital Saturday after being attacked by a man wielding an axe two days earlier, police said.Priyantha Sirisena, a father of three, suffered severe head injuries in his hometown of Polonnaruwa, 215 kilometres (134 miles) north-east of the capital Colombo, police said.The local businessman's death came as the President was in China on a state visit.Police said they arrested a man in connection with ...
Ships to evacuate thousands of Indians from Yemen NEW DELHI: India is to send ships to Yemen to evacuate thousands of workers stranded there as the fighting intensifies, authorities said.Around 3,500 Indians are currently working in Yemen, which has been plunged into chaos by a Huthi rebellion that has triggered Saudi-backed airstrikes on the capital Sanaa.Many are nurses from the southern state of Kerala, whose Chief Minister Oommen Chandy said New Delhi planned to send two ships to evacuate them."(Foreign) minister Sushma Swaraj ...
Stampede in Bangladesh kills at least 10 pilgrims DHAKA: At least 10 Hindu pilgrims were killed in a stampede outside the Bangladeshi capital Dhaka on Friday, police said."The dead included seven women and three men. They died near the Rajghat, the main bathing step on the river Brahmaputra," police inspector Nasir Ahmed told AFP.Copyright AFP (Agence France-Presse), 2015 ...
Japan launches replacement spy satellite TOKYO: Japan on Thursday successfully launched a replacement spy satellite, its aerospace agency said, as an existing device comes to the end of its working life.Tokyo put spy satellites into operation in the 2000s after its erratic neighbour North Korea fired a mid-range ballistic missile over the Japanese mainland and into the western Pacific in 1998.The Japan Aerospace Exploration Agency (JAXA) and Mitsubishi Heavy Industries launched the H-2A rocket from Tanegashima Space Center in southwestern ...
Suicide attack in Kabul kills at least seven: official KABUL: A suicide attacker killed at least seven people after detonating a car bomb near a district police headquarters in the centre of the Afghan capital Kabul Wednesday, officials said.The powerful blast went off in Muradkhani district close to the presidential palace, the defence ministry and the ministry of finance."The initial reports from Kabul hospitals show seven killed and 22 wounded including women and children," Sayed Kabir Amiri, the head of hospitals in the capital, ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln