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Inflation Based On Wholesale Prices Falls To A 10-Month Low Of 2.76 Per Cent In January

New Delhi: According to government data released on January 14, 2019, Inflation based on wholesale prices fell to a 10-month low of 2.76 per cent in January over the previous month on softening prices of fuel and some food items,

The Wholesale Price Index (WPI)-based inflation stood at 3.8 per cent in December, 2018, and 3.02 per cent in January 2018.

WPI inflation stood at 2.74 per cent in March 2018. Inflation in kitchen essentials like potato, onion, fruits, and milk softened in January over the previous month, the data revealed.

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A Bahrain-Based Investment Manager Wants To Fill A Vacuum In Lending To Indian Property Developers

New Delhi: A Bahrain-based investment manager wants to fill a vacuum in lending to Indian property developers that have $18 billion of debt to repay, aiming to capitalize on a credit crunch that’s narrowed their borrowing options.

Investcorp Bank BSC, which manages about $23 billion of assets, plans to provide structured lending to developers faced with borrowing constraints, Executive Chairman Mohammed Mahfoodh Alardhi said in an interview in Mumbai. The company started its India operations in January after acquiring the private equity and real estate funds of IDFC Alternatives Ltd.

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India’s Tea Shipment May Drop By 8 Million To 10 Million Kilograms Due To Bumper Crop In Kenya

New Delhi: Tea exports from India, the world’s second-biggest producer, may shrivel this year as a bumper crop in Kenya raises the risk of oversupply. Shipments could drop by 8 million to 10 million kilograms in the year through March from a record of 256.57 million in 2017-18 as Kenya’s output is likely to rise by as much as 60 million kilograms -- a large volume for the world market to absorb, said Azam Monem, director at Mcleod Russel India Ltd.

“Once Kenya produces that volume and their prices come down, it will become very difficult for India to compete,” Monem said in an interview on Monday. Kenya delivers good quality tea at a low price, while India’s tea in that category is quite expensive in relative terms, he added.

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Host Of Worries Before LS Polls If India’s Benchmark Stock Index Can Repeat Last Year’s Outperformance

New Delhi: Japan’s shut, most other Asian equity markets aren’t doing much, and you can read about the big exception -- China -- here. So we’re going to use this opportunity to talk about India, where an unpredictable election looms. Even before the ballot takes place, a host of worries is raising questions about whether the country’s benchmark stock index can repeat last year’s outperformance.

First off, recent gains have been narrowly focused this year, with only a handful of stocks, including Reliance Industries Ltd. and software exporters Infosys Ltd. and Tata Consultancy Services Ltd., driving the NSE Nifty 50 Index of India’s large caps. That advance has pared, and the gauge is almost back to flat. The benchmark S&P BSE Sensex Index, on the other hand, is still about 1 percent higher for 2019, while the MSCI Emerging Markets Index’s gain is 7 times stronger.

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Coal Ministry Concerned Over Delay In Coal India Projects

New Delhi: The coal ministry has expressed concern over delay in the commissioning of around 18 washeries by state-owned Coal India Ltd (CIL) and stressed upon the need for timely completion of the projects. In a review meeting on the upcoming washeries of CIL, Coal Secretary Sumanta Chaudhuri expressed "his concerns on the delay in commissioning of washeries", according to the minutes of the meeting. The secretary also stressed the need for timely completion of projects.

He also called for regular monitoring of washery projects at CIL through suitable software. The washeries which were reviewed by the secretary are Dahibari, Patherdih-I, Madhuband, Patherdih II, Bhojudih, Dugda and Moonidih washreies of BCCL (Coal India arm). Tapin, Kathara, Ashok, Karo and Konar washeries of CCL (CIL arm), Ib Valley, Basundhar, Hingula and Jagannath washeries of MCL (CIL arm) and Kusmunda and Baroud washeries of SECL (CIL arm) were also reviewed, the minutes said.