March 24: News View in pics
March 24: News View in pics
An elderly man walks in a park in Mumbai
The finance minister introduced a long-awaited pension bill in parliament on Thursday that would pave the way for private players in the sector and help cut govement spending.
The Pension Regulatory and Development Authority (PFRDA) bill, which would allow part investment of the corpus in the stock market, will take time for parliamentary approval as the current session of parliament ends on Friday.
The bill had failed to get parliamentary approval in the previous term of Prime Minister Manmohan Singh's govement due to strong opposition from its then Left allies.
The coalition has the majority now to get it passed, and the main opposition Bharatiya Janata Party has indicated it would not oppose the bill.
A worker lifts a petrol nozzle in New Delhi
The govement has no plans to raise petrol and diesel prices until the completion of elections in some states, an oil ministry source told reporters on Thursday, despite surging global oil prices.
"The prices are volatile. We are watching the situation," the source said.
A worker cleans a Bharti Airtel logo inside its shop in Kolkata
Bharti Airtel, India's top telecoms carrier, has no immediate plans for an initial public offering of its telecoms tower unit, Akhil Gupta, deputy group CEO at Bharti Enterprises said.
Gupta is also the managing director of Bharti Infratel, the telecoms tower unit of Bharti Airtel.
Bharti Infratel, which has more than 30,000 towers, also holds a 42% stake in a joint-venture tower company Indus Towers, which is the world's top telecoms tower company with more than 100,000 towers. Gupta said there are no immediate plans to list Indus Towers.
Japan's 1,000 Yen banknote is displayed at a currency museum of the Bank of Japan in Tokyo
The Japanese economy is set to shrink in the April-June quarter following a deadly earthquake and tsunami earlier this month, with a median forecast in a Reuters poll pointing to a 1.4% annualised contraction.
The forecasts in the poll of 10 economists varied widely from a 10% annualised fall to a mere 0.6% dip, highlighting the difficulty in assessing the impact of the world's costliest natural disaster on its third-largest economy.
9 of those surveyed expected Japan to retu to growth in the July-September quarter, with a median forecast of 2.7% annualised growth, while economists predicted growth in the final 3 months of this year would pick up to an annualised 3.9%.
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