Agencies | February 23, 2012 00:25
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India launches energy index
The Bombay Stock Exchange launched India's first carbon efficient index yesterday, aiming to provide a benchmark for socially aware investors.
The 20-share BSE-GREENEX includes some of India's leading companies such as Tata Motors, Tata Steel, ICICI Bank, Larsen & Toubro, Housing Development Finance Company, Reliance Infrastructure, Dr Reddy's Laboratories and DLF.
"The cost of carbon-based energy production is increasing, and if companies become more efficient and reduce energy costs there is a chance of higher profitability," said Ashishkumar Chauhan, BSE's deputy chief executive officer.
S.Africa set to slow to 2.7%
South African economic growth will slow to 2.7 percent this year, a level the government hopes to boost with a massive building drive, Finance Minister Pravin Gordhan said yesterday.
The outlook puts Africa's biggest economy well below regional forecasts, and far below the 7 percent that officials say is needed to reduce unemployment and poverty in one of the world's most unequal societies.
A government plan calls for investment of 3.2 trillion rand ($414 billion) in infrastructure to underpin business activity and provide housing for the poor.
Agencies
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