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Apr30
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Just yesterday, I wrote that ADB is worried for the impact of the high oil price on Indian economy and ADB stated that may be the growth of Indian economy can see a decline from its prediction. And today, Indian Finance Minister Palaniappan Chidambaram has expressed his confidence that even the rising oil price may not able to stop the Indian economy from growing. "This year looks good to me. If investments pour in, there will be growth," Chidambaram said.
He also said, ""We have to ensure that there are no financial imbalances, there are no surprises for investors. We have recently managed our finances well". He is confident that if Indian economy is managed well then high oil price would not be able to destroy the good growth.
As for me, I am not so optimistic like Mr. Chidambaram. After the regional elections finish in the 5 states after 2 weeks, the government will have to seriously think of increasing the price of oil in the Indian market. That will be a real tough challenge for the Indian government.
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Apr30
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Apr29
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3 weeks ago, ADB predicted that Indian economy will grow at 7.6% this year and now ADB is saying that if the price of oil in the international market continues to remain high than it will change its forecast about the Indian economy.
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Sri Lanka is now hopeful that by 2010 the country will have 1 million tourists visiting the island country. In the first quarter of this year (2006), 159,664 tourists came to Sri Lanka. This is a 27.5% increase from the same time of last year (2005).
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Pakistan imported nearly 200,000 tons of refined (sugar). This year local sugar production may even decrease by 1 million ton to 46 million ton. Many farmers are switching to alternative crops like wheat that may bring more cash for them.
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Apr28
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India's economic growth, forecasted at 8 percent GDP in 2006, continues to support the retail industry. The estimated $350 billion retail market is expected to grow 13 percent and the top five retailers account for less than 2 percent of the modern retail market.
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In the local market, the main challenge the software companies are facing is that the size of the market is still very small. Creating new customers is not an easy one in a society where PC penetration is still less than 2%.
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Apr27
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ATI Technologies is going to invest $50 million in for its R$D activities in the next 5 years.
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The immediate priority for the new Prime Minister is to bring back the Nepalese economy in the normal track. His government has to help the stock exchange to perform normally. Girija Prasad Koirala will also have to try his best to convince the donors to provide fund generously. Nepal has got a second chance now.
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Apr26
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This decision will encourage many international companies to set up research centers in India. Germany and India are jointly going to set up a Science research center.
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Wal-Mart is going to set up offices in Mumbai and Delhi within a few months in its plan to make Mumbai a sourcing hub for gems and jewellery. In 2005, Wal-Mart purchased goods worth of $1.5 billion and in 2004 this figure was $1.2 billion.
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Apr25
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KfW Bankengruppe works in Germany, Europe and other parts of the world including India. It has now announced that it is going to invest 3 billion euro in the next three years in India. Right now, its investment in India is just 30 million euros in two nfrastructure funds.
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The common people in Nepal have now high expectations about the future of the country. They came to the street and fought against injustice. Their main goal was to see Nepal as a prosperous country. They are fed up with the terrible condition of the Nepalese economy as the growth rate is hovering around 2%-3% annually.
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In the fiscal year 2004-2005 (July 2004- June 2005), about 6,50,000 visitors visited Pakistan and in the current fiscal year (ending in June 30 2006), this number may reach to 1 million.
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If this kind of report was published 10 years ago by World Bank then politicians and the media on both side of the border would start a blame game but now most probably they will take it as mere financial figure and focus on the financial aspect instead of trading blames.
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Apr24
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The common people of the country have suffered to the extreme for the last 2 weeks.
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The demand for bandwidth is always on the rise and now we have news that Videsh Sanchar Nigam Ltd. (VSNL) is planning an India-Europe undersea cable project which will directly link India and Europe. The distance is nearly 10,000 Kilometer and the investment of the project will be $300 million.
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Asian Development Bank (ADB) may double the amount of money that it gives to India as loan and in the next three years India may receive $ $7.3 billion as loan from ADB. Indian Finance Minister P Chidambaram has informed this matter today.
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India, Japan and UK are the top 3 countries from which tourists come in largest number to Nepal and tourists from these 3 countries accounted for nearly half (47%) of all tourists on March 2006.
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20% of output in Indian economy is added y farming activities but it is the largest source of livelihood for Indian people in rural areas.
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Apr23
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India is shining now but the shine is visible only in some cities and except the top 5-10 cities people in the rest of the country are struggling to have a decent life. The people belonging to the lower caste in Indian social stratum are also being marginalized day by day and this is indeed the recipe for social instability.
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South Asia is very diverse- much more diversified than China. Think of India, there is language that is spoken by more than 50% of the population. So, if you want to diversify your company name which language to select?
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There is very strong demand among the Pakistanis about Indian movies and sooner or later Indian and Pakistani leaders will realize the fact that in this age of free market economy you cannot shut down any culture if it has popular demand.
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Apr22
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India, Maldives and Sri Lanka will get the loans for post Tsunami rehabilitation of the common people.
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According to a report published in the Times of India, the government is losing at least Nepali Rs.3.5 billion as a result of the continuous general strike.
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Apr21
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Now DHL has come forward to address this issue and it has tied up with Transmile to deliver consignments from South Indian cities like Bangalore and Chennai to any part of USA in just two days.
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Apr20
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I got happy to find that a poultry farm owner has been given Rs 200,000 for the 3,500 chickens that were culled from his farm a few days ago. Well, this man will get some respite and he will not think of committing suicide like some Indian farmers have already done after suffering huge financial losses.
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Last year, 277,000 tourists visited the country. However, many tourists in Nepal have seen the worst and the current condition have forced many tourists to cancel their trips.
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Norwest Venture Partners (NVP), a leading global venture capital firm, has now $650 million to invest in the global information technology sector. Well, you cannot find a better place to invest than India in IT companies
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Armani has 25 outlets in China and 55 in Japan- so why not India? After all, India has the third largest economy in tAsia. Armani has now announced its intention to enter in the Indian market by opening 4 outlets in Delhi and Mumbai by mid 2007.
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Two weeks of all out protests means two weeks of loss of National production. There is hardly any activity in Nepal's Stock Exchange.
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Apr19
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In the fiscal year 2005-06 (ended on 31 March 2006) foreign direct investment (FDI) in India reached to $7.5b. In the previous fiscal year this figure was $5.3bn and thus more than 40% increase has taken place in just one year.
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Apr18
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I just feel that the plight of the South Asian poor farmers is very tragic. They are losing their chickens in thousands without receiving any compensation. Suffering huge losses, several farmers in India have committed suicide and if the situation becomes worse then most probably we will see more deaths from India and other South Asian countries. I just wish that these lives can be saved.
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The company has announced its financial results for the last fiscal year (ended on March 31, 2006). The company has informed the media that it expects 12%-15% increase in the sale of two wheelers in the current fiscal year (ending on 31 March 2007).
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Dubai may have 400,000 leisure tourists from India this year, I touched the nature of development of Indian economy. Officials of Dubai's Department of Tourism and Marketing (DTCM) are now in India to arrange a four day long road show to attract Indian visitors.
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Apr17
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It is expected that in 2006 the bilateral trade will reach to $20 billion and Saroj Kumar Poddar, chairman of the Federation of Indian Chambers of Commerce and Industry is hopeful that this figure can reach to $100 billion within 6 years.
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Most people live in rural areas in the South Asian countries and raising poultry is a common thing for almost every family. So, if bird flu attacks South Asian countries in a large scale then it will take a disastrous turn because most people in the rural areas do not have access to even basic health facilities.
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TCS added more than 21,140 employees- a lot of jobs, isn't it? If you think that it is a lot then what you will say to hear that the target for this year is 30,500.
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Today belonged to Tata Consultancy Services Ltd. (TCS), one of the top Indian software exporters. The company has announced financial results for Q4 & FY, 2005-06 and in this it is found that quarterly profit for the fourth quarter has increased to 72.31%. The annual profit increased 41.16%.
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Apr16
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MoneyWise Property Consultants, a leading UK based company on financial planning, mortgage broking and investment property sourcing, has announced that it is taking the Indian market seriously and in the next one year it is going to spend £100,000 to set up offices in India.
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1,022,000 passengers have travelled by domestic air service and 127,000 passengers by international flight to and from the Tribhuvan Airport in the 11 months of 2005
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Nepalese economy depends a lot on tourism both in terms of foreign exchange income and job creation. From the Official website of Nepal Tourism Board, I came to know that in March 2006, 25,553 visitors came to Nepal by Air from different countries.
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In 2004, egg production increased to 8,247 million and poultry meat to 4,02,000 tons."
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Apr15
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India is the fourth largest power in wind energy and among the Asian countries India is the first. Yes, India is ahead of all the Asian countries including China. According to a report, India has an overall capacity of 4,430 MW in wind energy.
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In 2005, DaimlerChrysler sold more than 2000 cars in the Indian market. This is perhaps nothing compared to the 1.46 million units sold globally but Indian market has huge prospect for growth because of the success in Information Technology and outsourcing, many people are getting rich in India every month.
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Even all the political problems get solved tomorrow in Nepal, the economy of the country will continue to bear the burden for a long long time.
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Pakistan imports more than 100 million KG of tea through the legal channel. Majority portion of tea is imported from Kenya. On the other hand, according to Pakistan Tea Association (PTA), 33 million KG of tea entered Pakistan illegally in FY 2005.
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Technorati Profile...
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Apr14
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It is normally thought that more than 60% cost is saved. Now, a study by TPI (a famous sourcing advisory firm), has stated that by outsourcing a company actually can save 15% on an average
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N R Narayana Murthy is among the few pioneers who guided India to become an IT super power.
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Chairman and Chief Mentor of Infosys Technologies N R Narayana Murthy has talked about his vision in the media of turning Infosys into a multi-cultural organization.
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The company issued a press release yesterday in which it stated that it would investing $25 million over the next two years. Agilent will build a 10-acre campus near Manesar, Haryana which will be one of the largest research centers of the company.
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Infosys Technologies Ltd. is the second largest software exporting company in India and today it announced that in the last fiscal year (ending in 31 March 2006) the company's yearly revenue crossed $2 billion.
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Apr13
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City dwellers in the Bangladeshi capital, Dhaka are buying a lot of sweets, yoghurt and fish to celebrate the new year. Yes, fish and rice are the main food for Bangladeshi people and of course fish is cooked with a lot of spice. Many shops will open their new (account) book from tomorrow and entertain their clients with sweets.
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SLT bosses are hoping that with full implementation of Infinys software, now SLT will be able to respond to the market demand quickly and the customers will get benefited too. Convergys has supported SLT in ' Implementation and migration for over 1.2 million pre- and post-support customer services migrated to Infinys'.
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The control of Pakistan Telecommunications Company Limited (PTCL) has been handed over to its buyer from UAE, Etisalat which has paid $1.4 billion already and will pay another $1.2 billion in 9 installments. Etisalat bought 1.33 billion shares out of a total of 5.1 billion of the company.
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Chevron Corp is world's fourth-largest oil company and it has strong presence in many parts of the world. Now, it is in pursuit of strengthening its position in India by buying 5% of Reliance Petroleum Ltd. It is an investment of $300 million and there is a provision that Chevron can increase its stake up to 29%.
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