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August, 30, 2016

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Business > Asia > India
India's wholesale inflation dropped for a sixth straight month as fuel prices and manufacturing costs continued to ease, government data showed Thursday.
 
Indian private banker K.V Kamath was named Monday as the first head of a new development bank being set up by the so-called emerging BRICS nations, officials said.
 
India's future purchase of Rafale fighter jets will only come through direct talks with the French government, the defense minister has said, effectively killing talks on a massive deal.
 
With its economy growing faster than China's and a business-friendly premier who has rolled out the welcome mat to foreign investors, India may appear an enticing prospect to European investors.
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An Indian court on Thursday convicted the former chief of outsourcing giant Satyam and his aides over a US$2.25 billion accounting fraud scandal dubbed "India's Enron," the prosecutor said.
 
India's central bank on Wednesday unexpectedly cut a key interest rate by a quarter percentage point, the second such reduction this year as the bank lends support to government efforts to boost economic growth.
 
India's wholesale inflation eased 0.39 percent in January, a second fall in three months, aided by a drop in fuel prices, data showed Monday.
 
Indian factory output eased in January to a three-month low as new business slowed down, a key survey showed Monday, suggesting more steps are needed from the government to boost growth.
 
Modi promises 'unlimited' reforms in India
Prime Minister Narendra Modi promised "truly unlimited" reforms Sunday in his bid to transform India's economy into a global powerhouse as he showcased his long-time fiefdom to global political and business leaders.
 
India's cabinet on Monday approved an executive order to make it easier to acquire land for the power generation, housing and defense industries, a move aimed at kick-starting stalled infrastructure projects.
 
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