Punjabi_News, ਪੰਜਾਬੀ ਖਬਰਾਂ

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ECONOMY TO BOUNCE BACK, 7 PC GROWTH SEEN IN LATE FY'10: PC
Mumbai March 7: Union Home Minister P Chidambaram sought to hammer the point that domestic economy is well on its way to recovery by saying it will clock seven per cent growth by third-fourth quarter of the next fiscal. "By the third and fourth quarter of next fiscal, I am confident that the economy will show an upturn and clock a seven per cent growth," Chidambaram, who was Finance Minister till January, told an international conference here. He said the economy would return to the nine per cent growth trajectory in 2010-11. "The growth rate was at 5.8 per cent, investment virtually at halt, inflation on rise and there was an uncertainty when we (UPA) came to power in 2004," he said, adding that the Government had a brilliant run during its tenure. The growth of 7.5 per cent, 9.5 per cent, 9.7 per cent and 9 per cent during the last four years were the best period ever and India became the second fastest growing economy after China, he said. "Our savings and investment rate went ...
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INFRASTRUCTURE GROWTH DROPS TO 1.4% IN JAN
New Delhi March 7: Mirroring the dismal performance in other sectors, growth in infrastructure industries like steel, coal, crude oil, electricity and petroleum and refinery products has fallen to 1.4 per cent in January this year from 3.6 per cent in the same month last year. Crude oil was the worst performer with decline in production by 8.1 per cent during January. Petroleum refinery products also declined by 2.6 per cent against a growth rate of 5.4 per cent in January 2008. Analysts feel that this trend is likely to continue in view of the dismal show by almost all the sectors except the cement industry. "It has not performed as badly as the manufacturing sector...weakness will continue. The economy may start picking up from the second half of 2009-10," CRISIL Principal Economist D K Joshi said. Cement production grew by 8.3 per cent for the month under review against 5.6 per cent in January last year. For the April-January period this year, consolidated growth slipped to 3.2 per cent from 5.7 per ...
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GOVT ALLOWS EXPORT OF 2 MILLION TONNES OF NON-BASMATI RICE
New Delhi March 7: The government is believed to have allowed the export of two million tonnes of non-basmati rice and increased the allocation of rice and wheat to states for supply through ration shops. An empowered group of ministers (eGoM) on food, which met yesterday, had decided to allow the shipment of non-basmati rice through diplomatic channels, official sources said. India has exported 7.44 lakh tonnes of non-basmati rice through diplomatic channels so far this fiscal. The country put a ban on the commercial shipment of non-basmati rice in April last year to contain the price rise. The allocation, which has been demanded by many states for a long time, has been increased only for families above the poverty line, the sources added. The eGoM, headed by External Affairs Minister Pranab Mukherjee, also decided to open wheat export after May, the sources said. It also removed the limit on stocks of wheat a trader can build, as the country is likely to witness a bumper harvest this year, ...
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SENSEX UP 128 PTS, CLOSES AT 8,326
Mumbai March 7: Recovering from record lows, the Bombay Stock Exchange benchmark Sensex today closed nearly 128 points higher on funds buying blue-chips led by software exporters. The Sensex, which had touched 40-month low levels in the previous day's trading, turned volatile before ending with a gain of 127.90 points to 8,325.82. It moved between 8,347.74 and 8,047.17 points during the day. The 50-share Nifty of the NSE rose by 43.45 points to 2,620.15, after touching a high of 2,628.10 and a low of 2,539.25. Trading activity in information technology gathered momentum after the dollar surged to a record high against the Indian rupee, brokers said. The IT sector index gained the most by rising 3.05 per cent to 2,072.32, led by a steep rise in Infosys, a heaviest on the index. Infosys, the second-largest software exporter, gained 3.08 per cent to Rs 1,219.20 as the rupee headed for its third weekly drop. Tata Consultancy Services, the largest, added 3.84 per cent to Rs 480.80, and Wipro, the ...
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RUPEE RECOVERS FROM EARLY LOWS, UP 12 PAISE AGAINST DOLLAR
The Indian rupee gained 12 paise after a weak opening against the US currency in late morning trade today on expected central bank intervention to contain further slide in the domestic unit. At the Interbank Foreign Exchange (forex) market, the rupee resumed weaker at 51.83/85 a dollar from its last close of 51.77/78. But it recovered smartly to 51.65/67 a dollar in late morning deals. Dealers said the rupee bounced back from its early lows on anticipation of the central bank's intervention in favour of the domestic currency to prevent any further fall amid sliding stock markets. The domestic currency also drew support from a fall in dollar against a basket of major currencies in overseas markets. Dealers said sustained FII pull out from domestic stock markets leading to capital outflows remained the principal cause of concern in the exchange market. Meanwhile, inflation fell to a six-and-a-half-year low of 3.03 per cent a day after the Reserve Bank of India cut the repo and the reverse repo rates by 50 ...
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Beat the economic downturn - give your business an International boost
Small and medium-sized companies across the West Midlands are being invited to find out how UK Trade & Investment can help them beat the economic downturn by boosting their export business. With business slowing in the UK, a series of free "Keys to Export Success" seminars is taking place across the region over the next three months to show firms how UK Trade & Investment can help them export their products and services. The events include four breakfast seminars to showcase UK Trade & Investment's Overseas Market Introduction Service (OMIS). OMIS is delivered by UK Trade & Investment's worldwide network of commercial officers in British Embassies and Consulates, who provide specialised services for UK exporters by country and industry sector, tailored to their exact requirements. The seminars will cover the full range of support available through OMIS, including: * Identifying potential overseas distributors, agents and partners; * Commissioning high quality country and industry ...
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Germany's Metro Cash & Carry to invest Rs 900 cr in Punjab
Chandigarh: German retailer Metro Cash & Carry, which has already made a mark in Bangalore and Hyderabad, will soon be is set to capture the Punjab market now. The company has proposed to invest Rs 900 crore in the state by launching its six distribution centres here. Bringing in its supply chain, the retail giant is aiming at generating employment for about 2,700 persons in the state. Besides, the project is slated to get the approval in empowered committee of the Punjab government to be held within this week as per Vijay Kumar Janjua, director of department of industries and commerce, Punjab. Metro Cash and Carry, which has 600 supply centres across 30 countries, will set up two distribution centres in Ludhiana, one each in Amritsar,Jalandhar, Zirakpur and Mohali. Each centre will cover the space of around eight acre and all are expected to see completion by 2010. The distribution centre will be a one stop shop which will stock food and non food products to cater the needs of all business ...
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