Retaining its position as the world's second largest economy, the Japanese economy grew at a faster-than-expected pace of 1.1 per cent in the past three months of 2009.

China, the fastest-growing large economy, clocked a growth of 10.7 per cent in the December quarter, bringing it at a sniffing distance to surpass Japan as the second largest economy in the world.

The National Council of Applied Economic Research (NCAER) in its quarterly review has forecast the full year

The commerce and industry ministry today asked the state governments to set up a single-window clearance system for speedy approvals of special economic zones (SEZ), even as the government granted formal approval to nine new proposals.

A Free Trade Warehousing Zone (FTWZ) proposed by Messrs Arshiya International Limited at Bori village in Nagpur district is among three special economic zones (SEZ) getting the formal nod of the Board of Approval on Thursday, two others being in Kerala and Tamil Nadu.

Country

N. Anand

Machine Tools and Engineering Expo (Access

Following a recent decision of the Andhra Pradesh Government, promoters of special economic zones (SEZs) are likely to be issued notice to explain the delay in implementation of the project.

They could also face cancellation of land allotted by the Andhra Pradesh Industrial Infrastructure Corporation if they are using land for purposes other than the clearance secured.

CM review meet

In a move that is likely to hit the miners hard, the Steel Ministry has asked the government to heavily disincentivise iron ore exports. If the ministry has its way then the Finance Ministry could double the export duty on high-grade ore (to 20 per cent) in the coming Budget.