Japan FTA widening trade deficit government says

Times Of India - Friday 17th May, 2013

IPL is not a quiet & sober brand. It is loud and sensational. Controversies like these only add to the excitement, IPL will get louder with more gossip, says Koshy, IIM ...

Skoda to phase out Fabia exit small car segment

Times Of India - Friday 17th May, 2013

Skoda is all set to phase out the struggling compact car Fabia after five years of launch as it looks to cut loss arising out of poor sales and intense competition. Skoda's only model in the hatchback category never managed to catch the fancy of buyers despite the company slashing Fabia's price in October 2010. Skoda reduced price of the Fabia's diesel variant by over Rs 1 lakh ...

Companies cant exit road projects Finance ministry

Times Of India - Friday 17th May, 2013

finance ministry has shot down two crucial proposals from the highway ministry, allowing exit of developers from completed projects and replacing developers with new ones where projects have not taken off months after they were awarded. ...

Government attacks SPs rating outlook

Times Of India - Friday 17th May, 2013

NEW DELHI: The government on Friday shot back at Standard & Poor's reiteration of a possible downgrade of India's sovereign rating, going to the extent of questioning the agency's ...

Sanyo may cease to exist under Panasonic reorganization Nikkei

West Australian - Friday 17th May, 2013

(Reuters) - Sanyo Electric Co may cease to exist under a reorganization by Panasonic Corp that includes global jobs cuts, Nikkei reported on Friday.Panasonic will cut 90 percent of Sanyo's global workforce of about 2,500 in around three years, the daily reported.About 1,000 workers at Sanyo's headquarters will be reduced to around 100 this fiscal year, leaving just a skeleton crew for ...

Sony to name Chugai Pharmas CEO as chairman Nikkei

The West Australian - Friday 17th May, 2013

Chief Executive Osamu Nagayama as chairman, the Nikkei reported.Nagayama's appointment will be finalized on June 20 at a board meeting to be held immediately after a shareholders' meeting, the business daily said.Outgoing chairman Howard Stringer, who served as Sony's CEO between 2005 and 2012, will retire in June, the Japanese paper said. (Reporting by Aditi Shrivastava in ...

Yamaha aims double digit market share in current fiscal

NDTV - Friday 17th May, 2013

Last month, the government had pitched for a rating upgrade at a meeting with S&P citing steps taken by it to control a high fiscal deficit and revive ...

Forex reserves down $616.4m to $293.69bn

Times Of India - Friday 17th May, 2013

MUMBAI: The country's forex reserves slipped for the second consecutive week, dipping by USD 616.4 million to USD 293.69 billion on a fall in currency assets, the Reserve Bank said today. The total reserves had slumped by USD 2.06 billion to USD 294.31 billion in the previous reporting week. Foreign currency assets, a major component of the forex reserves, were down by USD 568.1 million to ...

Re edges down tracking broad dollar gains

Times Of India - Friday 17th May, 2013

rupee weakened on Friday on the back of a broad rally in the dollar versus major currencies, but gains in domestic shares limited a sharp sell-off. The dollar rose against a basket of currencies on Friday, hovering near a 10-month high as debate over whether the Federal Reserve would wind down its asset buying programme later this year gathered pace. Traders said there was good dollar demand ...

Gold slips below Rs 26k per 10 gm in futures trade

Times Of India - Friday 17th May, 2013

NEW DELHI: Continuing its slide, gold slipped below Rs 26,000 per 10 gm in the futures market today as speculators engaged in reducing positions, tracking a weak trend overseas. At the Multi Commodity Exchange, gold for delivery in June fell by Rs 156, or 0.60 per cent, to Rs 25,975 per 10 gm in business turnover of 21,223 lots. Similarly, the yellow metal for delivery in the August contract ...

Bank of Japans policy easing – it works

FXstreet - Friday 17th May, 2013

Japanese kick-start of the economy has succeeded - GDP growth jumped in Q1 and the outlook for coming quarters remains strong. FOMC member is once again putting QE exit on the agenda, we expect tapering to start this year. Swedish inflation data raise the risk of a rate cut in July. Chinese recovery remains fragile and has lost momentum but so far no severe deceleration in growth. We have lifted ...

Sensex advances for 4th day

Times Of India - Friday 17th May, 2013

sensex today rose by 39 points, mainly on buying in power, capital goods and realty sector stocks amid increased foreign inflows. The 30-share index rose by 38.79 points, or 0.19 per cent, to 20,286.12. It has gained 556 points in last three trading sessions. Sensex had climbed to its highest level since January 2011 yesterday and has gained one per cent this week, the longest rising streak ...

SP affirms negative outlook on India How sovereign ratings are decided

NDTV - Friday 17th May, 2013

Global ratings agency Standard & Poor's today has affirmed its BBB minus rating with a negative outlook on India, the lowest investment grade among the BRIC group of large emerging ...

UPDATE 1-Brent slips stays below $104 on demand worries firm dollar

Yahoo!7 News - Friday 17th May, 2013

* Dollar near 10-mth high, regional Fed chief foreshadows QE wind-down * Evidence mounts of slower U.S. economic growth * Russia says Iran must take part in proposed Syria talks * Brent oil to fall to $102.42 -technicals (Adds comments, updates prices) By Manash Goswami SINGAPORE, May 17 (Reuters) - Brent futures slipped on Friday, staying below $104 as bleak U.S. economic data revived ...

Chinese banks see forex surplus for eighth month

Global Times - Friday 17th May, 2013

Chinese banks bought more foreign currency from clients than they sold in April as the market expects the yuan to continue to appreciate, according to a report from China's foreign exchange regulator on Friday.Individuals and institutions exchanged 134 billion US dollars in foreign currency for yuan through Chinese banks while buying 99.7 billion US dollars in foreign currency from ...

Chinas poultry prices bounce back from H7N9

Global Times - Friday 17th May, 2013

Prices commanded by poultry products have risen significantly this week, following government subsidies to prop up the sector as it struggles in the wake of the H7N9 bird flu virus, the Ministry of Agriculture (MOA) announced on Friday.The price per kilo of dressed chicken hit 13.51 yuan (2.18 US dollars) on May 15, up from an annual low of 12.97 yuan on May 12, but the figure was still 4.2 ...

Ambuja Cements asked to deposit $21m fine by tribunal

Times Of India - Friday 17th May, 2013

Ambuja Cements Ltd, India's second-largest cement manufacturer, said it had obtained a stay on an Rs 11.63 billion penalty imposed by the country's competition watchdog in June, but has been ordered to deposit 10% of the amount. Ambuja has been asked to deposit Rs 1.16 billion by the regulatory tribunal within four weeks from Friday. Ambuja is among 11 other cement manufacturers ...

Gold recovers by Rs 10 on low buying

Times Of India - Friday 17th May, 2013

the national capital on Friday on low level buying by retailers. However, silver held steady at Rs 43,700 per kg in restricted buying from industrial units and coin makers. Traders said scattered low level buying by retailers helped gold prices to trade marginally ...

SE Asia Stocks-Thai index up on MSCI Singapore Airlines weak after results

Reuters - Friday 17th May, 2013

BANGKOK, May 17 (Reuters) - Thai shares gained on Friday, led by gains in Shin Corp and Minor International that will be added to the MSCI index, but Singapore retreated as Singapore Airlines fell after posting weak results. The Thai SET index ended up 0.62 percent at 1,627.96 as shares in telecom group Shin Corp and hotel firm Minor International both rose more than 7 percent. Maybank Kim Eng ...

China earmarks fund for shantytown renovation

Global Times - Friday 17th May, 2013

A total of 35.5 billion yuan (5.73 billion US dollars) will be used to renovate run-down areas in Chinese cities this year, the country's Ministry of Finance (MOF) said Friday. In breakdown, 44.4 percent of the money will go to the country's central region, 39 percent to the west and 16.6 percent to the eastern part, the wealthiest region of China, the ministry said.The fund will be ...

Analyst sees industrial overcapacity last until 2016

Global Times - Friday 17th May, 2013

The process for China to gradually eliminate excessive production capacity in over-supplied sectors may last till 2016, a Chinese macroeconomic analyst has warned.Overcapacity problems intensified following over-investment in 2009, and it will be seven years from that point before the excessive production is eased, Chen Letian, chief macroeconomic analyst with Rising Securities, wrote in an ...

ITC Q4 net up 19 at Rs 1928cr

Times Of India - Friday 17th May, 2013

ITC Ltd on Friday posted 19.42 per cent rise in net profit at Rs 1,927.98 crore for the fourth quarter ended March 31, 2013. The company had posted a net profit of Rs 1,614.36 crore in the same period of previous fiscal. Net sales of the company rose to Rs 8,180.30 crore for the fourth quarter ended March 31, 2013, compared to Rs 6,861.35 crore in the same period of previous fiscal, ITC Ltd said ...