Shipping containers stand stacked at the Container Terminal at the Cochin Port on Willingdon Island in KeralaIndia's trade deficit sharply narrowed in September to a six-month low, figures released by the trade secretary on Monday showed, but experts cautioned against reading too much into the data.Asia's third-largest economy's trade deficit in September stood at $9.12 billion, Rahul Khullar told reporters, compared with August's $13.06 billion, which was a 23-month high. It was the narrowest deficit since March's $7.83 billion figure."This is an aberration. If you see in the medium term, there is a pressure on the rupee to appreciate," said N.R. Bhanumurthy, an economist with New Delhi-based think-tank National Institute of Public Finance and Policy."The trend will be around $14 billion to $15 billion deficit (each month)," Bhanumurthy said.A rise in the local unit tends to shrink exports as they become less competitive and increase imports as the country's purchasing power rises, widening the trade deficit.(Pictures by Reuters)

October 25: News pics for today


Workers arrange consumable goods as a customer (back) shops at a grocery store in Lucknow

Hindustan Unilever, a unit of Anglo-Dutch group Unilever, posted a 32 per cent rise in quarterly net profit, beating forecasts, thanks to a one-time gain.

India&#39;s largest household products and consumer goods maker said net profit rose to Rs 566 crore ($128 million) for the fiscal second quarter ended September 30 from Rs 429 crore a year earlier.

Workers arrange consumable goods as a customer (back) shops at a grocery store in Lucknow

Hindustan Unilever, a unit of Anglo-Dutch group Unilever, posted a 32 per cent rise in quarterly net profit, beating forecasts, thanks to a

New Land Rover Freelanders are seen outside the Halewood Jaguar and Land Rover factory in Liverpool, northern England

Jaguar Land Rover, owned by Tata Motors, is in talks with a Chinese automaker to establish a manufacturing and sales joint venture in China, a spokesman for the Indian firm said on Monday.

A joint venture could boost the Jaguar and Land Rover brands in China, now the world&#39;s biggest auto market after surpassing the United States last year.

Tata Group chairman Ratan Tata said in August the automaker was planning to widen its offering in premium Jaguar cars and step up its network in China, which has emerged as the third-largest market for its Land Rover vehicles.

Tata has said it expects to boost sales in China to about 20,000 Land Rovers and 5,000 Jaguars in fiscal 2011 and has also said it would start assembling cars in the country.

New Land Rover Freelanders are seen outside the Halewood Jaguar and Land Rover factory in Liverpool, northern England

Jaguar Land Rover, owned by Tata Motors, is in talks with a Chinese automaker to establish a manufacturing and s

A farmer works in a paddy field in Dhinkia village, about 165 km (102 miles) east of the Bhubaneswar

India&#39;s environment ministry has halted 64 projects and held up 469 of them, heightening the risk for investors wanting to tap the nation&#39;s growth and dimming chances of speedy expansion.

On Monday, a Forest Advisory Committee will examine South Korean POSCO&#39;s $12 billion steel mill plan for Orissa, before environment minister Jairam Ramesh makes a final decision over the plant, touted as the nation&#39;s largest foreign direct investment.

A majority of an Indian review panel recommended last week that environmental clearances given to POSCO must be cancelled because the project could violate forest laws.

Last week, the environment ministry threw out plans by London-listed Vedanta Resources to expand its alumina refinery over green worries and in August had denied the company a permit to mine bauxite in Orissa, where it has i

A farmer works in a paddy field in Dhinkia village, about 165 km (102 miles) east of the Bhubaneswar

India&#39;s environment ministry has halted 64 projects and held up 469 of them, heightening the risk for investors wanting to ta

A woman throws bricks to be used for construction purposes in Varanasi

The Reserve Bank of India said on Monday the long-term infrastructure bonds issued by infrastructure finance companies under Section 80CCF of the Income Tax Act (1961), will not be treated as public deposits.

This means investors in these bonds will enjoy some tax benefits under the latest rules.

A woman throws bricks to be used for construction purposes in Varanasi

The Reserve Bank of India said on Monday the long-term infrastructure bonds issued by infrastructure finance companies under Section 80CCF of the Income Tax Ac

The Australia&#39;s ASX Ltd logo is seen on some books at the Australia&#39;s ASX building in central Sydney

Singapore Exchange (SGX) has agreed a $8.3 billion takeover of Australia&#39;s ASX Ltd to create Asia&#39;s fourth-largest stock exchange, aiming to cut costs and fight growing competition.

However, the first major consolidation of Asia-Pacific exchanges faces regulatory hurdles, including getting Australia&#39;s parliament to lift a 15 per cent ownership cap on the ASX and approval from the country&#39;s Foreign Investment Review Board (FIRB).

\"There&#39;s quite a few regulatory hurdles for this, which is why the shares are trading below the notional value of the offer,\" said Tom Elliott, a managing director at MM&E Capital.

The Australia&#39;s ASX Ltd logo is seen on some books at the Australia&#39;s ASX building in central Sydney

Singapore Exchange (SGX) has agreed a $8.3 billion takeover of Australia&#39;s ASX Ltd to create Asia&#39;s fourth-larges

Shipping containers stand stacked at the Container Terminal at the Cochin Port on Willingdon Island in KeralaIndia's trade deficit sharply narrowed in September to a six-month low, figures released by the trade secretary on Monday showed, but experts cautioned against reading too much into the data.Asia's third-largest economy's trade deficit in September stood at $9.12 billion, Rahul Khullar told reporters, compared with August's $13.06 billion, which was a 23-month high. It was the narrowest deficit since March's $7.83 billion figure."This is an aberration. If you see in the medium term, there is a pressure on the rupee to appreciate," said N.R. Bhanumurthy, an economist with New Delhi-based think-tank National Institute of Public Finance and Policy."The trend will be around $14 billion to $15 billion deficit (each month)," Bhanumurthy said.A rise in the local unit tends to shrink exports as they become less competitive and increase imports as