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Indian steel output growth lower than world average

Indian steel output growth lower than world average

In September, India's steel production growth fell short of the world average with the country clocking 4.7 per cent growth compared to the world average of 6.1 per cent. The World Steel Association (WSA) said India's steel output grew to 6.54 million tonne (mt) in September from 6.24 mt during the same month last year.

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Indian shipping hopes for better as volumes up

Indian shipping hopes for better as volumes up

In September, Indian shipping industry saw a slight rise with an increase in shipment volumes, driven by an increase in iron ore import by China and economic recovery in the US and Europe. Shipment volumes, across dry bulk, tanker and container carriers, have suffered in the last two years due to excess capacity and a fall in international trade.

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Infra trust fund on its way

Infra trust fund on its way

Under the finance ministry's new announcement, the revenues of a project will be transferred to the trust, which will then issue units to investors. Shilpi Aggarwal says the government is seeking innovative financing solutions for infrastructure.

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Srei Hikes Lending Rate

Srei Hikes Lending Rate

Considering the rise in the cost of funds for the infrastructure sector, Srei Infrastructure Finance raised benchmark lending rate by 50 basis points. Thus, the new benchmark rate stands at 18 per cent per annum effective from September 1, 2013 compared to the earlier rate of 17.50 per cent.

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IFC Mulls new Bank Licence

IFC Mulls new Bank Licence

The private sector investment arm of World Bank, International Finance Corporation (IFC) is looking out to partner with aspirants for new bank licences, as it increases its investment in India to $2 billion this year.

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Investment: A legacy of perception?

Investment: A legacy of perception?

An India-US Infrastructure Fund that was set up in 2010, but with the US recently lodging a formal complaint against India with World Trade Council on entry barriers to companies, things could be on wait-and-watch mode.

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Coal India to Develop Coal bed Methane Reserves

Coal India to Develop Coal bed Methane Reserves

Union Minister of State for Coal Pratik Prakash Bapu Patil has said that Coal India CIL is pursuing development of coal bed methane (CMM) from its mining areas as it would be beneficial on mine safety as well as environment.