”india” News

India's ratings under cloud as govt finances sour

MUMBAI (Reuters) - India's investment grade credit rating looked under threat after Fitch Ratings cut its local currency grade outlook to negative on Tuesday, citing deteriorating public finances, mainly due to subsidies.
07 16 2008 3:18AM (...more)

Indian industry growth hits 6-yr low, inflation jumps

NEW DELHI (Reuters) - Indian industrial output grew at its slowest rate in six years in May, but a jump in inflation to nearly 12 percent made it unlikely weakening growth would persuade the Reserve Bank of India (RBI) to hold off with interest rate rises.
07 12 2008 3:42AM (...more)

FACTBOX - Indian officials to brief govt's new ally on economy

NEW DELHI (Reuters) - Senior officials from India 's finance, petroleum and telecom ministries are likely to soon brief a new ally of the government on key economic issues, newspapers reported on Wednesday.
07 9 2008 11:35PM (...more)

India relying on monetary policy to cool demand - Chidambaram

NEW DELHI (Reuters) - India is relying on monetary policy to cool demand and calm prices, and is confident it will get over the problem of high inflation, Finance Minister Palaniappan Chidambaram told the UTVi business news channel in an interview on Tuesday.
07 8 2008 10:33PM (...more)

India inflation seen in double-digits for now - adviser

NEW DELHI (Reuters) - India's headline inflation rate , which hit its highest in at least 13 years in mid-June, will remain in double digits for some time, an adviser in the finance ministry said on Friday.
06 28 2008 7:31AM (...more)

SBI raises lending rate by 50 basis points

MUMBAI (Reuters) - India 's largest lender, State Bank of India , said on Thursday it was raising its benchmark prime lending rate by 50 basis points to 12.75 percent with effect from Friday.
06 27 2008 12:14AM (...more)

India shares at 10-mth low on rate rise expectation

BANGALORE (Reuters) - Indian shares fell more than 2 percent on Monday to their lowest in 10 months, as investors braced for another increase in interest rates to tame 13-year-high inflation.
06 24 2008 1:04AM (...more)

Hoping for a miracle as inflation climbs in India

MUMBAI (Reuters) - With inflation in India reaching a seven-year high, people across the country are looking for a miracle to help them cope with the sharp rises in the cost of food and other essential items.
06 19 2008 1:46PM (...more)

Inflation to head up, ease by end-2008

NEW DELHI (Reuters) - India's headline inflation rate is likely to hover at 8 to 9 percent for some time and will hit double digits before declining in the last quarter of calendar 2008, its chief statistician said on Tuesday.
06 19 2008 12:06AM (...more)

U.S. judge gives prison term for India export case

WASHINGTON (Reuters) - The owner of an electronics company has been sentenced to 35 months in prison for his role in a conspiracy to illegally export sensitive computer parts to India , a U.S. Justice Department spokesman said on Tuesday.
06 19 2008 12:06AM (...more)