NOVEMBER

Indo-US services trade may touch $150bn by 2015: CII

NEW DELHI: The Indo-US services trade is likely to grow to an ambitious $150 billion in the next six years, says a CII estimate. At present, the country’s total engagement with the US is over $60 billion, out of which about $40 billion are accounted for by the merchandise trade. Last fiscal, the services exports to the US touched $22 billion. read more

The Netherlands is out of recession

The Dutch economy grew by 0.4% in the third quarter of this year, compared with the previous quarter, meaning the country is now officially out of recession.

The new figures from the national statistics office CBS show the first period of economic growth in a year. On an annual basis, however, the economy contracted by 3.7%. ‘According to normal definitions, the Netherlands is now out of recession,’ the CBS said in a statement.

‘It’s nice to be able to signal the recovery but we still can’t hang out the flags,’ CBS economist Michiel Vergeer told news agency ANP. read more

EU clears ING bank bailout

European Union regulators on Wednesday approved Dutch and Belgian state bailouts for ING and KBC banks after both agreed to reduce operations to compensate for the advantages they receive from government aid.

ING will create a new retail bank to step up competition in the Netherlands in return for 10 billion euros in recapitalisation and guarantees covering most of a 39 billion euro asset portfolio from the Dutch government. read more

€1bn subsidy for Urk wind farm

The economic affairs ministry is to give nearly €1bn in subsidies for a private consortium to develop the country’s biggest wind farm in the Noordoost polder near the fishing village of Urk. read more

Indian Rupee Weakens on Speculation Refiners Purchased Dollar

Nov. 17 (Bloomberg) — India’s rupee fell from a four-week high on speculation the nation’s refiners increased purchases of foreign currency to pay for costlier crude-oil imports.

The nation’s oil importers may have stepped up dollar purchases after the commodity rose 3.3 percent in New York yesterday, the biggest gain since Sept. 30. The value of India’s oil imports rose to a 10-month high of $6.3 billion in October as crude oil advanced 76 percent this year. read more

Nehruvian Model can solve financial crisis

The emergence of some green shoots is bringing sigh of relief to some who speculate a recovery in the ailing system. These hopeful persons should better know that a real recovery is nowhere in sight. Even some leading experts and institutions are not sure about the nature of recovery – whether it would be a V-turn, a U-turn, a L-turn or a Z-turn. read more

Hurdle cleared paves the way for ABN Amro split

The division of ABN Amro has moved one step closer. The bank’s creditors have raised no objection to the Dutch State’s takeover plan. read more

ING swings to profit with restructuring

The Hague – Dutch banking and insurance group ING reported a sharp switch into quarterly profit on Wednesday as it restructured after a government bail-out and said it was moving into an “exciting” phase. read more

PM opens door wider for foreign investment

New Delhi: ‘In addition to FDI, we welcome portfolio investment in Indian companies,’ says Singh. Prime Minister Manmohan Singh today sent out a strong message on the need for further economic reform, particularly in the financial sector, and welcomed investment through qualified institutional investors in Indian companies. Stating that the country has been able to withstand the economic downturn, he said a gradual phase-out of the stimulus measures would take place next year. read more

IT to regain double-digit growth in ‘10

New Delhii: IT sector is expected to grow between 4% and 7% in the current fiscal as global economies are yet to recover fully from the downturn, but may return to over 10% growth next year, said Som Mittal president of industry body Nasscom on Tuesday. “The impact of downturn is not over yet, though some signs of recovery can be seen. read more

India’s economic growth rate is expected to accelerate to eight per cent in the next fiscal from 6.3 per cent projected for the current financial year, the Planning Commission has said. read more

India in recovery phase, US, Europe to take longer: Ratan Tata

MUNNAR: Tata Group chairman Ratan Tata said on Thursday that he felt that India was on the way to recover from the economic slowdown, though it may take more time for the US and UK to achieve the same. read more

Dutch company DSM wins world record for most efficient solar module

Dutch company DSM has developed an anti-reflective coating on solar glass that has contributed to achieving the highest energy conversion ever of a full-size solar module. The world record of 16.4 percent, achieved by the Energy Research Centre of the Netherlands (ECN), was verified by global certification and testing organisation TUV. read more

The Netherlands in top ten 2009 Prosperity Index

The Netherlands ranks in the top 10 most attractive countries in which to live, according to the 2009 Legatum Prosperity Index. The Index is the world’s only global assessment of wealth and wellbeing. It finds that the most prosperous nations in the world are not necessarily only those that have a high Gross Domestic Product (GDP), but are also those that have happy, healthy, and free citizens. read more

Unilever turnover down, but sales are up

Unilever sold more consumer products than expected in the third quarter of this year, bolstered by price cuts, the company said in a statement. read more