India’s economy grew at its fastest rate for more than two years in the last quarter, according to official data.
In the three months to June, GDP was up 8.8% compared with the same period last year.
Although only the 11th biggest economy in the world, India is the second fastest-growing, behind China.
Strong industrial and mining output helped boost the growth rate, India’s statistics… more...
Asian shares have fallen amid concerns about the economic outlook following worse-than-expected weekly jobless numbers in the US.
Tokyo’s Nikkei index was the hardest hit, down 2%, as rumours circulated that the Bank of Japan would hold an emergency meeting.
Policymakers were said to be considering further measures to tackle the strength of the yen.
The yen has again moved near a 15-month high… more...
Asian shares have fallen amid concerns about the economic outlook following worse-than-expected weekly jobless numbers in the US.
Tokyo’s Nikkei index was the hardest hit, down 2%, as rumours circulated that the Bank of Japan would hold an emergency meeting.
Policymakers were said to be considering further measures to tackle the strength of the yen.
The yen has again moved near a 15-month high against the dollar… more...
Officials say it could take Pakistan up to five years to recover from the flooding
The World Bank is to loan $900m (£574m) to Pakistan to help it recover from its worst ever flooding.
The devastating floods have affected up to 20 million people and left some 2,000 dead, say officials.
But the UN… more...
India
Car sales in India have risen 38% over the past year, figures from Society of Indian Automobile Manufacturers have shown.
Sales for July were 158,764, the trade body said.
Commercial vehicle sales were also… more...
A bomb in the Sadr City district of Baghdad also killed five
A sandstorm has downed an Iraqi military helicopter, killing its five-member crew, while a Baghdad blast has killed five Iraqis, officials say.
Rising food prices have provoked public protests in India - the rate rise is designed to cool inflation
India’s central bank has raised
SINGAPORE – Singapore expects its economy to soar 15 percent this year after a record expansion in the second quarter that suggests Asia’s recovery from the global recession remains on track.
Gross domestic product for April through June grew 19.3 percent from a year earlier when the economy was shrinking because of the global recession, the Trade and Industry Ministry said Wednesday. The growth was the fastest since the… more...
The central bank expects the economy to grow by 8% in 2010-11
The Reserve Bank of India (RBI) has raised key interest rates by a quarter of a percentage point in an attempt to curb double-digit inflation.
The rise came after a surprise… more...
Indian motorists have enjoyed cheaper fuel prices thanks to state subsidies
The Indian government has opted to scrap its subsidy of petrol prices in an effort to cut its budget deficit.
Ministers also voted to raise the price of other fuels, including diesel and… more...