Petrol hike pumps hope for India
Raising prices at petrol pumps is never likely to be popular. India's brave decision will also prove meaningless unless it is followed by bolder action to cut the more generous diesel subsidies. But the direction of travel is right and if the journey continues India could just turn a corner, writes Jeff Glekin. Full Article
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Foreign investment in Pakistan down 36 pct July-March
KARACHI, April 15 |
KARACHI, April 15 (Reuters) - Net foreign investment in Pakistan fell 35.9 percent to $2.08 billion in the first nine months of the 2008/09 fiscal year compared with $3.25 billion in the same period last year, the central bank said on Wednesday.
Foreign private investment fell 19.5 percent to $2.62 billion in the July to March period, compared with $3.26 billion the previous year, the State Bank of Pakistan said.
Out of total foreign investment, foreign direct investment was down 8 percent to $3.04 billion, compared with $3.31 billion in the year-earlier period.
There was an outflow of $957.5 million from July to March this year compared with an outflow of $53.1 million in the same period last year.
There have been outflows from the stock market because of political uncertainty, and economic and security worries.
Foreign investors also lost confidence and sold shares when stock market authorities placed a floor under the main index in August following sharp falls.
The floor was removed in December. (Reporting by Sahar Ahmed; Editing by Victoria Main)
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