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December, 4, 2016

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Business > Asia > India
India's anti-trust watchdog has fined 14 automakers a total of US$420 million for restricting competition in the spare parts market and driving up prices, a official said Tuesday, a few days after Chinese regulators took similar action.
 
Prime Minister Narendra Modi Friday said a "digital India" could compete with the world and hailed its IT professionals for banishing the country's image as a land of snake charmers and black magic.
 
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.
 
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