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April 26, 2017

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Business > Asia > India
India cleared on Tuesday a US$2.5 billion deal to buy 37 military helicopters from aviation giant Boeing, on the eve of Prime Minister Narendra Modi's visit to the United States.
 
Three years ago India was the weakling of the emerging markets clan, politically stagnant and struggling to grow -- but as gloom engulfs other developing economies, the subcontinent is enjoying a moment in the sun.
 
Millions of India's workers have vowed to go on strike on Wednesday against right-wing Prime Minister Narendra Modi's "anti-labour" economic policies.
 
An Australian court blocked an Indian-backed project to build what could be one of the world's biggest coal mines, which environmentalists say threatens the World Heritage-listed Great Barrier Reef.
 
India's central bank kept its key interest rate on hold Tuesday as analysts had expected, resisting government pressure for a fourth cut of the year.
 
India's wholesale inflation fell for a seventh consecutive month, but the pace of the drop slowed as fuel and food prices rose, government data showed on Monday.
 
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.
 
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