1.   

India expected to have a good third quarter: World Bank chief

World Bank President Jim Young Kim has said India was expected to have a good third quarter, which is in line with Finance Minister P Chidambaram's observations that the country's economy is now picking up. "If you look at some of the biggest countries, it looks like India is going to have a good third quarter," Kim said at Wall Street Journal CEO Forum meeting. He was responding to questions on slowed growth in developing countries.

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Govt taking steps to stabilise economy: FM

Finance Minister P. Chidambaram Thursday made a strong pitch for investments from the diaspora saying the government was taking steps to stabilise the economy and give greater confidence to investors. Addressing the second South Asian diaspora convention here, Chidambaram said the government is mindful that investment will determine economic growth and has taken a number of steps to boost confidence of domestic as well as foreign investors.

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India to retain top rice exporter rank, says CARE Ratings

India is expected to retain its top rank as rice exporter in 2012-13 marketing year on bumper production and strong export demand for Indian rice, both basmati and non basmati. India's production of rice hit an all-time high in 2011-12 crop year (period from July to June) and crossed the 100 million tonnes level. India has also emerged as the world's leading exporter of rice in 2011-12 (period from October to September) and is expected to retain its top rank as rice exporter in 2012-13 due to bumper production and strong export demand for Indian rice, both basmati and non basmati, CARE Ratings said in its report here today.

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Govt to seek rupee trade payments to support battered currency

Govt is preparing to lobby major trading partners including Japan, Iraq and Venezuela to accept rupee payments for some of their exports, one of a series of moves to stabilise the volatile currency and make it more globally acceptable. Restrictions on large transactions of rupees against foreign currencies are intended to protect the country from sustained speculative assaults, but they also limit interest in the rupee and foreign investment flows.