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India’s Nuclear Generator a Cash Cow for Global Energy Firms
After being locked out of global nuclear trade for more than three decades, India is looking to lock up some major energy deals. Large global energy companies are lining up in droves to make sure that happens.
India launched its first nuclear test in 1974, but the country refused to sign the global Treaty on the Non-Proliferation of Nuclear Weapons (NPT). As a result, the 45-member Nuclear Suppliers Group (NSG) banned India from global nuclear trade.
That ban was lifted last September when Washington pushed through a “waiver” that freed India from 34 years of sanctions.
Critics of the deal worry that by lifting…
24Feb2009 | Money Morning | 0 comments | ContinuedIndia Wields Its Monetary Policy Axe… But Can The Country Stave Off Recession?
India’s Central Bank In Recession-Busting Model
With the Reserve Bank of India’s surprise interest rate cut on Monday, this may actually be the first time ever that India is ahead of the monetary policy curve.
That’s according to Karim Rahemtulla, speaking in the wake of the Reserve Bank of India cutting its overnight lending rate from 9% to 8%, as the country makes a strong move to avert a recession.
The “surprise move” came days before a regularly scheduled meeting of its policy board and after the central bank reduced the cash reserve ratio by 2.5 percentage points to 6.5% – retroactive to October 11.
The…
27Oct2008 | Smart Profits Report | Comments Off | ContinuedWith its Surprise Interest-Rate Cut, India Puts Itself “Ahead of the Curve,†India Expert Rahemtulla Says
With its central bank’s surprise interest-rate cut on Monday, India may actually be ahead of the monetary-policy curve for the first time ever as it moves to avert a recession that Asia’s third-largest economy needs to avoid, India investing expert Karim Rahemtulla said yesterday (Tuesday).
The Reserve Bank of India cut its overnight lending rate from 9% to 8%, according to a government statement issued in Mumbai yesterday. The “surprise move” that came days before a regularly scheduled meeting of its policy board came after India’s central bank reduced the cash reserve ratio by 2.5 percentage points to 6.5% – retroactive to Oct. 11,…
22Oct2008 | Money Morning | Comments Off | ContinuedProtest at Tata Plant Evidence of Indian Identity Crisis
At a price of just $2,500 each, Tata Motors Ltd.’s (TTM) Nano was billed early in its development as the world’s cheapest automobile and the only car that was both affordable and practical enough for India’s quickly burgeoning middle class. But the car that was emerging as a bright symbol of middle-class opportunity in fast-growing India could now epitomize something much darker: The human cost of rapid industrialization.
Company officials this week disclosed that the Nano might not debut next month as originally planned, because violent protests have erupted at the automobile’s main production site.
It’s a conflict that pits traditional Indian values against…
5Sep2008 | Money Morning | 1 comment | ContinuedStrong Dollar Rally Causes Gold Prices to Tumble
Gold prices tumbled below $800 per ounce for the first time since late 2007 Friday, as the continuing U.S. dollar rally sparked an across-the-board retreat in commodity prices.
Gold closed Friday at $792 an ounce, a decline of $22.40, or 2.75%. Gold prices have plummeted 23% since the “yellow metal” hit an all-time record of $1,032 an ounce on St. Patrick’s Day.
“The dollar’s continuing uptrend is a key factor depressing commodities in general and triggering heavy sales in gold,†Shuji Sugata, manager at Mitsubishi Corp. Futures and Securities Ltd. in Tokyo told Reuters.
Investors who had been using precious-metals investments as a…
19Aug2008 | Money Morning | Comments Off | ContinuedIndia’s Reliability Provides a Razor Thin Edge Over China
With sky-high growth potential, China and India are the two markets no investor can afford to miss out on. But that doesn’t mean they’re impervious to market turbulence, and in times of trouble, India is the more reliable investment.
No doubt, both countries’ markets are suffering this year, with China’s Shanghai A Index down 50%, and India’s Sensex Index down 25%. It’s no secret that India is struggling with both a growing budget deficit and mounting inflationary pressure. But China has problems too – it’s just hiding them under the carpet until the Olympics are over.
That’s why, for me at…
12Aug2008 | Money Morning | Comments Off | ContinuedNews Corp. Expands Presence in India with $100 Million Investment News Corp. Expands Presence in India with $100 Million Investment
News Corp. (NWS), the media giant owned by Rupert Murdoch, will strengthen its presence in India with the creation of six regional television channels.
Murdoch has in the past warned that an advertising slowdown in the newspaper and television industries would have a decidedly negative impact on U.S. media businesses. At the same time, however, India’s entertainment market is just beginning to realize its potential.
About 17 million viewers joined India’s burgeoning television market in the first half of 2008. Television advertising responded to the broader audience, growing 26% in the first six months of the year.
The media and entertainment market…
6Aug2008 | Money Morning | Comments Off | ContinuedIndia’s Gold Demand: A Panic for Gold?
It’s hard to over-egg the importance of Indian jewelry demand in the physical gold market.
Between 2000 and 2007, gold jewelry sold in India accounted for one ounce-in-nine sold worldwide. One ounce in every five wound up as an Indian import (its domestic mines produce less than six tons per year), ready to be hung off young brides as 24-carat dowries or worked into bracelets and necklaces for the international market.
The single-largest gold bullion consumer, India’s own final demand outweighed the next largest market — China — by almost 57%.
But Chinese gold buyers have now caught up in 2008. Or so…
4Aug2008 | Whiskey and Gunpowder | Comments Off | ContinuedInvesting in India (Part 2)
India’s Growing Internet
The United States is home to approximately 300 million people. More than 210 million of them are Internet users.
Every month, these people spend an average of 32 hours online, logging on to an average of 64 unique websites, according to the Nielsen NetRatings.
I think it’s safe to say that the online market in the U.S. is mature, if not completely saturated. But what about some of the more emerging, faster-growing economies of the world?
Take Asia, for instance. With more than 3.6 billion people, the continent is home to approximately 54% of the world’s population. But only about 10%…
11Jun2008 | The Penny Sleuth | Comments Off | ContinuedInvesting In India
Technology Meets Tradition in India
India is growing. Fast… It’s the second-fastest growing economy on the planet. And it’s not surprise that India is brimming with investment opportunities…
The emergence of India as a powerful economic force is one of the most extraordinary investment stories in decades.
Just recently, American Express predicted that India’s 100,000 ‘dollar millionaires’ will grow by 12.8% a year for the next three years. That’s a whole lot of rich Indians. What’s more, McKinsey Global Institute predicts that the average Indian’s income will triple by 2025
The country is set to capture 1% of global trade soon, while merchandise exports…
11Jun2008 | The Penny Sleuth | Comments Off | Continued
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