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August, 28, 2016

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Business > Asia > India
India has defended its decision to scuttle a landmark worldwide trade deal, saying its farmers faced suicide and starvation if the government had backed down on its tough stand at the WTO.
 
India's central bank says it sees signs of recovery in Asia's third-largest economy even though the monsoon season, which is crucial for agriculture, had a weak start.
 
Indian Prime Minister Narendra Modi announced Sunday a US$1 billion concessional line of credit for Nepal to use for development, including building hydropower plants in the energy-starved Himalayan nation.
 
Indian tycoon Subrata Roy, seeking to raise US$1.6 billion to win release from jail, has "interested" potential buyers for his iconic foreign properties that include New York's Plaza Hotel, a company official said on Saturday.
 
Coal reserves offer no relief for India fuel crunch
India sits on one of the world's biggest coal reserves, yet its power stations are starved of the fuel with some idle and others running dangerously low on supplies.
 
India's inflation slowed to a four-month low in June, data showed Monday, but a weak monsoon could push up food prices and pose headaches for the new government.
 
India reveals first budget featuring 'Modi-nomics'
India's new right-wing government under Prime Minister Narendra Modi unveiled its maiden budget Thursday, promising a new era of fiscal prudence and greater opportunities for foreign investors in key sectors of the economy.
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India's economic growth is expected to accelerate this year and could reach nearly six percent, a key government study said Wednesday ahead of the first national budget by the new right-wing government.
 
Indian equities climbed to a fresh high Monday for the second time in less than a week as parliament opened ahead of a budget expected to see the announcement of long-term reforms.
 
Indian stocks surged to a record high Wednesday on hopes that the newly elected government will announce reforms to revive the economy in its first budget next week.
 
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