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July, 1, 2016

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Business > Asia > India
India is forecast to post an eighth straight quarter of below five percent growth later Friday, underscoring challenges facing new Prime Minister Narendra Modi to revive Asia's third-largest economy.
 
India's stock market surged past the 25,000 mark Monday as Narendra Modi prepares to be sworn in as prime minister, with investors betting his new cabinet will unleash reforms to revive the economy.
 
India's stock market surged to its second consecutive record high and the rupee rallied on expectations exit polls released later Monday will show the Bharatiya Janata Party (BJP) winning national elections.
 
Facebook has hit more than 100 million users in India, only the second country after the United States to achieve the milestone, the social networking company said Wednesday.
 
India's inflation hit a nine-month low in February, data showed Friday, but analysts saw little chance of any immediate interest rate cut.
 
Indian opposition candidate for prime minister Narendra Modi said on Thursday the country's millions of family-owned traders must learn to work with large modern stores and online retailers, in comments that could signal a shift in thinking.
 
Despite economic downturn, luxury cars sell quickly in India
German giant Mercedes admits it was "a little surprised" when Indian customers snapped up 125 of its new top-of-the-line S-Class luxury cars costing US$250,000 apiece in just 16 days.
 
India's central bank announced a surprise 25 basis point hike in its key interest rate Tuesday, signaling that taming inflation is its key priority, rather than spurring growth, just months before a general election.
 
The Reserve Bank of India today decided to withdraw all currency notes issued prior to 2005, including 500 and 1,000 denominations, after March 31 in a move apparently aimed at curbing black money and fake currencies.
 
India aims to throw open its doors wider to overseas investors, a minister said Wednesday, as it seeks to spur a slumping economy before the general election.
 
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