December 1: News in pictures
December 1: News in pictures
A view of the parliament building on the opening day of the session to pass the interim budget in New Delhi
The parliament on Wednesday approved a $9.8-billion additional spending bill to cover various payments including outstanding government debt, food and fertiliser subsidies, and government pensions.
The bill was passed by a voice vote in parliament, a type of vote allowing the government to bypass a three-week deadlock between the ruling Congress party-led coalition and opposition parties caused by rows over a series of corruption scandals.
The additional expenditure plan is on top of the expenditure sanctioned in the budget of 2010-11. It is the second additional expenditure plan by the finance ministry.
A worker sits beside an oil tank at a storage facility of an oil company on the outskirts of New Delhi.
State-run Indian Oil Corp aims to raise $4.4 billion in January through a follow-on share sale, its chairman said on Wednesday, sending its shares up as much as 14 per cent.
The government is selling a 10 per cent stake, while the company will offer an equal number of new shares to raise Rs 2,000 crore, making the sale the biggest-ever share offering in the Indian market.
\"Our expectations are that it should be around Rs 450,\" Chairman B M Bansal said, when asked by reporters about the per share price of the sale by the fuel retailer.
The expected sale price represents a premium of 30 per cent over the company's Tuesday close.
The logo of Hyundai Motor is seen on Hyundai Motor's sport utility vehicle at the company's showroom in Seoul.
Hyundai Motor reported the worst November sales among South Korean automakers on Wednesday, as a prolonged strike at its biggest local production base hit output and sales of its best-selling subcompact car.
But shares of Hyundai jumped nearly four percent as the almost flat sales growth was better than most had feared, although Hyundai warned on Wednesday that it was seriously considering shutting down the affected plant in Ulsan due to a strike by temporary workers.
Since November 15, Hyundai's subcontracted employees have occupied the factory that produces subcompact cars such as the Verna and the new Accent, demanding the automaker convert their positions into permanent ones.
Labour unrest has often caused disruptions in Asia's fourth-largest economy, although Hyundai has avoided an annual strike by regula
A truck passes shipping containers stacked at the Container Terminal at the Cochin Port on Willingdon Island in Kerala
India's exports in October rose an annual 21.3 per cent to $18 billion, while imports grew 6.8 per cent year-on-year -- their slowest pace in seven years -- to $27.7 billion, government data on Wednesday showed.
India's trade deficit in October stood at $9.7 billion compared with $9.12 billion in September.
April-October exports rose 26.8 per cent to $121.4 billion while oil imports rose 0.3 per cent to $8.4 billion.
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