Today, 45 per cent of India's trade is trans-shipped over other regional ports such as Colombo, even as India's container cargo is growing by 15 per cent every year. The development of a trans-shipment hub within the country would definitely help India's trade and accelerate its growth.
Hotels in the Capital are in for some tough times, with the Commonwealth Games not fetching many customers and the government releasing a large part of the inventory that it had earlier reserved for the event.
The sponsorship money in the bag is a tad over a quarter of what the organisers of the games had projected.
R C Agarwal, promoter of beleaguered Vishal Retail, on Wednesday came out in support of the offer from Texas Pacific Group (TPG) in preference to that from Kishore Biyani's Future Group.
For the MV Khailijia 3, one of the two ships which collided last Saturday off the coast of Mumbai, the track record does not read very well. In July, it was found that the ship had developed some cracks and had to offload its cargo mid-sea.
For those who don't wish to watch their favourite game on a television in their living room, the perfect place was to head to a nearby hotel or a pub where the whole action was simulated to give a stadium-like feel with a giant screen and hordes of football fans cheering and jeering the teams.
About a month after it was thrown open for bookings, the Games Travel Office (GTO) of the Commonwealth Games does not seem to be generating much response from tourists.
Loan defaulters will now find it difficult to rid themselves of all their liabilities through the one-time settlement scheme.
Europe's and Bangkok's loss is turning out to be gain for several other destinations like Hong Kong, Macau, Malaysia and Singapore.
Marriott is also expanding its overall presence in the country. By 2013, it aims to have 40 hotels across categories. Out of these, five hotels -- Jaipur (Marriott), Chandigarh (JW Marriott), Bangalore (JW Marriott) and Pune (Marriott and Courtyard) -- would be opened by the end of 2010.
Tour operators are turning their attention to the coming football madness, with the World Cup tourney set to kick off in 46 days.
From those fresh out of school to retired couples, there is a new emerging segment of travellers keen to see the world in their own specific way.
While convenient destinations like Thailand, Malaysia and Singapore are the usual suspects, places like Greece, Piedmont, Jordan and Santiago are making their way into the itinerary of the Indian traveller.
The world economy has slipped into a state of stagflation, says Reddy.
In an earlier analysis for the period till April 26, it had been found that of the 365 items in the WPI, the index for as many as 166 items had not been revised for more than four months. The latest analysis as of June 21 shows that the index for around 55 of these 166 items has been revised. In effect, only one-third of the items have seen an index revision. During this period, headline inflation has moved from 8.27 per cent to 11.63 per cent.
The move aimed at blunting Finance Ministry, RBI's opposition to monthly reporting.
The average number of workers a business unit employs is declining for both urban and rural areas.
The Foreign Investment Promotion Board, the nodal body for approving foreign direct investment in the country, has given its nod to a proposal from Germany-based Deutsche Bank to buy a 5 per cent stake in the Delhi Stock Exchange.
The panel has also decided to increase the weight of manufactured items and the fuel group in the new index. Accordingly, the new WPI series, with a revised base year of 2004-05, will see the weight of manufactured items go up to around 65 per cent from 63.75 per cent in the present series.
A high-level committee on External Commercial Borrowings chaired by Finance Secretary D Subbarao is expected to take a final view on the matter this week. The committee comprises officials of the ministry of finance and the Reserve Bank of India. A high-level committee on External Commercial Borrowings chaired by Finance Secretary D Subbarao is expected to take a final view on the matter this week.
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