The WTO must incorporate emerging issues if it wants to remain relevant in the changing times, Union minister Suresh Prabhu said on Tuesday, asserting that India will organise a mini ministerial meeting of the global trade body within a few weeks to help realise this objective.The 11th WTO talks collapsed last week in Buenos Aires, ending without any ministerial declaration or any substantive outcome with the US going back on its commitment to find a permanent solution to the public food stockholding issue, leaving India and other developing nations disappointed. ... Read More

Bitcoin burst out of the shadows in 2017, seducing Wall Street and individual investors alike even though many still struggle to understand precisely what it is.The cryptocurrencys rise is also pushing regulators to consider taking action after years of simply urging caution.Bitcoin started the year at $1,000 per unit in January but by mid-December had shot to within striking distance of $20,000, a dizzying climb that stoked fears of a bubble even in financial circles used to speculation and volatility.Bitcoin remains a major gamble as it is very much an uncharted-waters asset, said Nigel Gree ... Read More

The government has informed the Lok Sabha that about Rs 5,000 crore was spent on printing of new Rs 500 currency notes post demonetisation.As per the information provided by minister of state for finance P Radhakrishnan in a written reply, as many as 1,695.7 crore pieces of Rs 500 denomination note were printed till December 8.The amount spent on production of Rs 500 notes was Rs 4,968.84 crore, he said.The minister also informed that the RBI printed 365.4 crore pieces of Rs 2,000 notes. The cost incurred is about Rs 1,293.6 crore.Similarly, Rs 522.83 crore have been spent on printing of 178 c ... Read More

The ministry for road transport and highways has decided to re-invite expression of interests (EOI) in December for Indias first private rapid transit (PRT) system on 70-km stretch from Dhaulan Kaun (Delhi) to Manesar (Haryana) in Delhi-NCR region. In an interview to Mint, minister for road transport and highways Nitin Gadkari said the project has cleared all the major hurdles and safety standards would be now put in place to ensure its implementation in 2018. I am determined to showcase the new technology to the people, said Gadkari, who is famous for his out-of-box ideas in the government an ... Read More

Commerce and Industry minister Suresh Prabhu said this was probably the first time in recent history that India was not being blamed for the collapse of talks at the ministerial meeting of the World Trade Organization (WTO).We came here with an open mind but things did not move because of the adamant attitude of some members, Prabhu told reporters here.The talks at the 11th ministerial conference of the WTO collapsed with the US going back on the commitment made by it along with other member countries to find a permanent solution to the public food stockpile issue. ... Read More

Many of the cargo containers passing through Indias busiest port in Mumbai have a small piece of Japan Inc. attached Devices from NEC Corp. that can be tracked as the containers rumble through the interior of Asias third-largest economy. The partnership between NEC and the port illustrates the strengthening relationship between Tokyo and New Delhi. Japan is seeking growth markets, while India craves advanced technology and foreign investment. The leaders of both countries. ... Read More