Ind vs Pak: India beat Pakistan to reach World Cup final

Economic Times

NEW DELHI: India set up a World Cup final clash with Sri Lanka by inflicting a 29-run defeat on arch-rivals Pakistan in their semifinal match in Mohali on Wednesday.

Economy

Developing economies’ lead over rivals poses risks
Economic Times

WASHINGTON: The world’s biggest economies are recovering from the Great Recession at troublesome speeds: too fast or too slow.

China, India and other major developing countries quickly returned to breakneck rates of growth after escaping the worst of the economic downturn in 2008 and 2009. Their rapid recoveries showed for the first time that emerging economies have grown big and strong enough to thrive independently while the United States and other rich countries struggle.

Apple still has a lot of room to grow: Sterne Agee
Economic Times

Apple Inc’s shares could rise further despite having risen 51 percent over the past one year as the company’s Mac PCs , iPads and iPhones have plenty of room for growth, said brokerage Sterne Agee .

The brokerage raised its price target on the stock to $445 from $400 and said it is still a buy at the current levels.

“We think the beauty with the Apple story is that the company doesn’t need to win everyone over to continue its success. The company just needs to continue winning a fair share of its vast end markets,” analyst Shaw Wu wrote in a note.

Private sector adds more than 200,000 jobs
Reuters

U.S. private employers added more than 200,000 jobs in March while planned layoffs fell, underscoring expectations that momentum in the labor market will help underpin the economic recovery.

The ADP Employer Services report on Wednesday showed that U.S. private employers added 201,000 jobs in March, largely in line with expectations for a gain of 203,000 jobs.

The ADP report, which is jointly developed with Macroeconomic Advisers LLC, did little to change expectations of the government’s much more comprehensive labor market report due out on Friday, which includes both public and private sector employment.

Policy

Govt to release revised FDI policy on Thursday
Economic Times

NEW DELHI: The government will release the revised consolidated FDI policy paper, a ready reckoner on foreign investment related regulations, here on Thursday.

The third edition of the Consolidated FDI Policy Circular may contain guidelines on domestic companies issuing shares to foreign entities for considerations other than cash with a view to check possible FDI policy violation and money laundering, a source said.

The need for such norms is being felt in the wake of an increasing number of cases where shares are issued against non-cash considerations like trade payables and import of capital goods.

Bharat can’t grow unless India does
Ranesh Nair & Isher J Ahluwalia
The Financial Express

Indian cities are visibly deficient in the quality of services they provide although in the last few years we have seen examples of significant achievements (some reported in this column) in generating a turnaround in the delivery of specific services in some cities. Considering that the Indian economy is now one of the fastest growing economies in the world and that India’s urban population will be close to 600 million by 2031, more than double that in 2001, the few success stories will have to be replicated on a much broader scale.

The Committee has endorsed the norms set up by the Ministry of Urban Development for public services such as water supply, sewerage, solid waste management, storm water drainage, street lights, roads and transport etc and has emphasised that these standards (e.g., 24 x 7 water supply) are to be achieved for all, because sanitation and public health cannot be catered to in enclosed areas or localities. The Report has addressed the enormous challenge of providing public services to meet the norms for the currently unserved and underserved population and to meet the needs of the additional population.

Infrastructure

Noida to get direct link to south Delhi
Darpan Singh, Noida
Hindustan Times

Decks have been cleared for a direct Metro link between Noida and Sarita Vihar. On Tuesday, the Noida Authority board gave its formal sanction to a 3.76-km new Metro route between Noida’s Botanical Garden and Kalindi Kunj near Sarita Vihar. “This is part of our plans to have greater connectivity with adjoining areas. The DMRC’s detailed project report (DPR) has put the project’s total cost at Rs 376 crore. The cost will be borne by the civic agency,” said Noida Authority chairman Mohinder Singh.

Real Estate Trends

Study indicates renting is better option in Delhi
Anuradha Shukla, New Delhi
Mail Today

For all those looking to buy a house in Delhi or Mumbai, a new report by property portal Makaan.com has a word of advice — with property prices having soared past the pre- slowdown highs it is cheaper to stay rented in these metropolises than to purchase a house for now. However, for those planning to buy a house in Chennai, Ahmedabad or Bangalore, it is the right time to do so, as buying a property is a better option in these cities than to stay rented as the rentals in these places are higher or closer to the equated monthly installments (EMIs) of housing loans that go towards buying a house.

According to the Makaan Buy versus Rent Index (MBRI), it is better to stay rented in the sub cities of Delhi East, Delhi North, Delhi South, Delhi West and Dwarka than to buy a house in these localities.

Soon, house tax on all residential properties
Navneet Sharma, Chandigarh
Hindustan Times (Chandigarh edition)

House owners in Haryana will have to get used to paying house tax shortly. The Haryana government is contemplating imposing house tax on all residential properties in municipal areas in the state to get grants from the centre under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM).

Hospitality Sector

Leela to invest Rs 100 crore in Goa
New Delhi
The Financial Express

Hotel Leela Venture today said it will invest Rs 100 crore to upgrade its property in Goa this year and is looking to expand presence in India by opening new company-owned properties and taking up management contracts. “We are open to opportunities for management contracts to establish an all India footprint. We could look at locations such as Kolkata, where we do not have any presence right now and additional properties in Bangalore and Mumbai,” Hotel Leela Venture Vice President Marketing and Sales Sanjay Pasricha said.

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