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October, 21, 2016

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Business > Asia > India
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.
State-run cement producer Semen Indonesia (SMGR) said it had signed an offtake agreement with its Vietnamese subsidiary Thang Long Cement Company (TLCC) to help the latter refinance its US$140-million debts.
India's inflation accelerated to a five-month high in May, in a worrying sign for Prime Minister Narendra Modi's new government which has made fighting price rises a priority.
Asia's biggest budget carrier AirAsia launched its debut flight in India on Thursday, fueling a cut-throat fare war in a sector already reeling from losses.
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