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India's financial hub Mumbai hit by big power cuts MUMBAI: Power cuts hit large areas of Indian financial capital Mumbai on Tuesday following a technical glitch at an electricity generation unit, but back-up generators at banks and brokerages ensured that financial business was largely unaffected.Tata Power Company Ltd said the cuts, which began at 0945 IST in Mumbai, were caused by a technical fault at one of its units and forced it to switch off power to some areas of the city, including some business districts.It did not say what had caused the fault at the power station but that it was working to get supplies back on by the end of the day.Overloading of the state transmission network prevented local electricity distribution companies from importing extra power available elsewhere in India into Mumbai, Tata said.The National and Bombay Stock Exchanges, India's largest financial bourses, said the outages had not impacted trading, and local banks and brokers said back-up ...

New village toilets a small step for poor Indian women KATRA SHAHADATGANJ: Decorated with marigolds and ribbons, 108 toilets unveiled in a tragedy-hit village are a small step in Prime Minister Narendra Modi's push to end open-air defecation for impoverished Indian women.The spotlessly clean toilets were donated on Sunday to the village in northern Uttar Pradesh state, where scared and vulnerable women had long been forced to trek nightly into the fields to relieve themselves."I believe no woman must lose her life just because she ...
China slams door shut on full Hong Kong democracy in 2017 vote BEIJING/HONG KONG: China's parliament said on Sunday it will tightly control the nomination of candidates for a landmark election in Hong Kong in 2017, a move likely to trigger mass protests in the city's Central business district by disappointed democracy activists.The Standing Committee of the National People's Congress (NPC) said it had endorsed a framework to let only two or three candidates run in a 2017 vote for Hong Kong's next leader. All candidates must ...
India's Modi arrives in Japan for visit TOKYO: India's new Prime Minister Narendra Modi flew into Japan Saturday on a five-day official visit as their governments seek to boost security ties and counter a increasingly assertive China.Modi arrived at Kansai International Airport near Osaka, western Japan, by special plane for a night in the nearby ancient city of Kyoto where he was to have an unofficial dinner with Japanese Prime Minister Shinzo Abe, a foreign ministry official said.The Indian leader will visit ...
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 ...
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 ...

 



 
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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 $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln