Purnartha - 10-Mar-2014 - Important news (India & Global) (To receive these updates in your mailbox every morning - just call our toll free number: 1800 - 266 - 0161 or send an e-mail to support@purnartha with your name and phone number) INDIA 1) The price of domestic natural gas is set to double to around $8.4 a unit from April 1, with the government coming out with a notification on this by the end of this month. The Cabinet Committee on Economic Affairs had decided to allow RIL to avail of a higher price from April 1, provided the company gave a bank guarantee to cover the production shortfall (if the charge of intentional hoarding by it was proved) and signed a supplementary agreement with the government for the new dispensation. 2) According to RBI data, Bank deposits grew at healthy 16% year-on-year to Rs 7,605,171 crore as on February 21, surpassing the pace of credit growth at 14% year-on-year to Rs 5,861,736 crore as on February 21. GLOBAL 1) China’s overseas shipments unexpectedly declined 18.1% in February from a year earlier, compared with analysts’ median estimate for a 7.5% increase. Imports rose 10.1% in February from a year earlier, leaving a trade deficit of $23 billion, the biggest in two years. 2) US jobs report released on March 7 showed a 175,000 gain in payrolls last month, which followed a revised 129,000 increase in January. The jobless rate unexpectedly climbed from a five-year low, rising to 6.7% from 6.6%. 3) Russia/Ukraine concerns escalated after Russian forces tightened their grip on Crimea by seizing another border post and a military airfield, fanning tensions ahead of a planned Moscow-backed referendum on Sunday on whether the Black Sea peninsula should join Russia.
Posted on: Mon, 10 Mar 2014 05:39:00 +0000
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