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October, 27, 2016

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Business > Asia > India
Nestle said Thursday it is challenging a ban imposed by India on its hugely popular Maggi instant noodles brand after tests showed they contained excessive levels of lead.
India's central bank cuts interest rates for the third time this year
India's central bank on Tuesday cut interest rates for the third time this year and played down recent strong growth in Asia's third-largest economy, saying investment and demand remained weak.
India's factory output rose to a four-month high in May on increased demand, a survey showed Monday, in a further boost for the economy after data showed it was outgrowing China. Banking giant HSBC said its purchasing managers index (PMI) increased to 52.6 points last month from 51.3 in April.
India's RBI set for third interest rate cut of the year
India's central bank is expected to cut interest rates for a third time in five months when it meets this week, confident that inflation is stable enough to weather the summer monsoon.
India's finance minister acknowledged Friday that the government could miss its deadline to implement a key tax law amid criticism of the pace of economic reforms after a year in office.
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.
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