NEW DELHI (Reuters) – India’s cabinet approved development on Wednesday of a new deep-water port that the government said will be a crucial part of a plan to connect the Asian country with Europe by sea and rail links through the Middle East. The Vadhavan port will be built on India’s western coast, about 150 …
India approves $9-billion port to boost trade with Europe Read More »
By Rajendra Jadhav and Mayank Bhardwaj MUMBAI/NEW DELHI (Reuters) – India on Wednesday raised the government-mandated price for summer-sown crops such as rice, soybean and cotton as Prime Minister Narendra Modi looks to woo millions of farmers ahead of key state elections later this year. The country announces support prices for more than a dozen …
India raises crop prices as Modi tries to win over farmers Read More »
By M. Sriram and Nandan Mandayam MUMBAI (Reuters) -Vodafone Group has sold a bigger-than-planned 18% stake in India’s Indus Towers, raising $1.82 billion that will serve to reduce its debt, the British telecom group said on Wednesday. Bharti Airtel, India’s no. 2 telecom company, said it bought about 1% of Indus shares in the transaction, …
UK’s Vodafone sells $1.8 billion stake in India’s Indus Towers; Airtel boosts stake Read More »
By Arpan Chaturvedi NEW DELHI (Reuters) – India’s human rights commission asked the government on Wednesday to look into allegations of labour law violations at an Amazon warehouse near New Delhi over alleged harsh working conditions during a severe heatwave. Indian media this month reported that workers in the e-commerce giant’s warehouse in Manesar, near …
India’s human rights body calls for scrutiny of Amazon warehouse labour practices Read More »
By Dharamraj Dhutia MUMBAI (Reuters) – Foreign investors have bought more than $10 billion of Indian government bonds that will be included in a widely-followed JPMorgan debt index on June 28, taking their ownership of such papers to a record high. In the nine months since JPMorgan said India’s sovereign debt will be included in …
Foreigners buy $10 billion of index-bound Indian bonds since JPM inclusion announcement Read More »
MUMBAI (Reuters) – India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday. Peak demand for power in India’s hot, arid northern plains hit a record earlier this week, even as the government said it continues to implement measures to meet …
India’s coal-based power demand at all-time high, government says Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares ended little changed in a volatile session on Wednesday as a rise in high-weightage private banks offset a drop in state-owned firms and energy stocks after a recent rally. The NSE Nifty 50 shed 0.18% to 23,516, while the S&P BSE Sensex added 0.05% to 77,337.59. Both the …
Indian shares end flat as private banks offset drop in state-owned firms Read More »
BENGALURU (Reuters) – India’s Axis Bank acquired additional equity shares of Max Life Insurance Company, a unit of Max Financial Services, for 3.36 billion rupees ($4.32 million), the private lender said on Wednesday. The bank’s board of directors approved the proposal to acquire Max Life shares, raising Axis entities’ total holding in the insurance firm …
India’s Axis Bank raises stake in Max Life Insurance for $4.3 million Read More »
By Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) – Foreign inflows into Indian bonds will hit a decade-high of $2 billion around June 28, when they will be included in a widely-tracked JPMorgan index, although the central bank will lap up most of the dollars to avoid a knee-jerk rise in the rupee, bankers said. …
India set for decade-high $2 billion bond inflows around JPMorgan index inclusion day Read More »
BENGALURU (Reuters) -Tata Motors said on Wednesday it will increase prices of its commercial vehicles by up to 2%, effective July 1 to offset the impact of rising commodity prices. Tata Motors, India’s top automaker by revenue, had last hiked prices for its commercial vehicles by up to 2% in March. The company said in …
India’s Tata Motors to hike prices of commercial vehicles Read More »
