MUMBAI - The BSE Sensex and Nifty rose more than 1 percent on Monday to mark their biggest daily gain in more than one week after the government's energy reforms led to a rally in oil firms, while wins by the Bharatiya Janata Party (BJP) in Maharashtra and Haryana elections raised expectations for more reforms.
NEW DELHI - The government is meeting bankers on Monday to discuss a planned share sale in state-run ONGC as it deems the time is right to sell stakes in oil firms following freeing up of diesel pricing, a senior finance ministry official said.
Prime Minister Narendra Modi has anointed India's state-backed broadcaster as his media brand of choice, helping shield his government from tough questions and prompting private news outlets to complain that they are being kept out of the loop. Full Article
Cheaper oil won’t be much of a tonic for Asian economies. While painful for exporters, sliding prices should benefit consumers of crude. For most in the region, though, less expensive oil is mainly a sign that growth is stalling. The big exceptions are India and Indonesia. For them, the price slide over the past 4 months translates into significant budgetary savings. Full Article
Finance Minister Arun Jaitley seems to have finally taken the responsibility of targeting inflation as it is a sensitive political issue and could not be left to the discretion of the Reserve Bank of India (RBI). With CPI as the anchor, the target will be 4 percent measured annually (+/-2 percent). Inflation targeting is a good game and not a difficult one. The real problem is in achieving the target. Full Article
The Ebola news has made me think about Elia Kazan’s crackling and moody Panic in the Streets, a 1950 thriller about a deadly bacterium that has entered New Orleans and threatens to spread. On a recent re-viewing, it definitely left me quavering — and gave me a nightmare chill I hadn’t experienced on previous occasions. The parallels to the Ebola outbreak are creepy. Read
As long as Islamic State militants fight like a traditional army, with infantry, heavy weapons, vehicles and fortified positions, the United States and its allies can attack them as they would any traditional army — and beat them. But that depends on the militants cooperating. It’s evident the group is already changing its methods — a prospect that should deeply worry the rest of the world. Commentary
Microsoft Corp. is preparing to launch a smartwatch within the next few weeks that will passively track a user's heart rate and work across different mobile platforms, Forbes reported on Sunday. Full Article