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India agency summons former Xiaomi head in investigation -sources

13 Apr 2022 13 Apr 2022

By Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) -India’s federal financial-crime fighting agency has summoned a former India head of China’s Xiaomi Corp in an investigation of whether the company’s business practices conformed with Indian foreign exchange laws, two sources with direct knowledge told Reuters. The Enforcement Directorate has been probing the company since …

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Egypt eyes adding India as a wheat import origin this month- Ministry

12 Apr 2022 12 Apr 2022

By Sarah El Safty CAIRO (Reuters) – Egypt’s Supply Ministry has confirmed that it is considering this month adding wheat from India to 16 other national import origins accepted by its state grains buyer, as it seeks to shore up purchases disrupted by Russia’s invasion of Ukraine. A delegation from Egypt’s Agriculture Ministry is in …

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Cable-car collision kills two in India, leaves almost 50 trapped mid-air

12 Apr 2022 12 Apr 2022

By Jatindra Dash (Reuters) -Indian military rescuers with helicopters lifted to safety on Tuesday the last of almost 50 passengers who had been trapped mid-air since a fatal cable-car collision two days earlier, police said. The collision on the pilgrim cableway directly killed one person, and another fell to his death on Monday when trying …

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India’s March retail inflation nears 7% y/y, at 17-month high

12 Apr 2022 12 Apr 2022

By Manoj Kumar and Aftab Ahmed NEW DELHI (Reuters) -India’s retail inflation accelerated to near 7% year-on-year in March, its highest in 17 months and above the upper limit of the central bank’s tolerance band for a third straight month, putting pressure on it to raise policy rates. Annual consumer price-based inflation in March touched …

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Mercedes-Benz bets on India’s nouveau riche to drive luxury car sales

12 Apr 2022 12 Apr 2022

By Aditi Shah PUNE, India (Reuters) -Germany’s Mercedes-Benz is betting that an expanding pool of young new millionaires will drive demand for luxury cars in India, creating faster sales growth than for mass market cars, a top company official said. India’s increasing numbers of “dollar millionaires” include young entrepreneurs or high-earning professionals who appreciate the …

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U.S. monitoring rise in rights abuses in India, Blinken says

12 Apr 2022 12 Apr 2022

By Kanishka Singh WASHINGTON (Reuters) – U.S. Secretary of State Antony Blinken said the United States was monitoring what he described as a rise in human rights abuses in India by some officials, in a rare direct rebuke by Washington of the Asian nation’s rights record. “We regularly engage with our Indian partners on these …

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Record wheat crop, high stocks to help India meet rising global demand

12 Apr 2022 12 Apr 2022

By Mayank Bhardwaj and Rajendra Jadhav NEW DELHI (Reuters) -Bumper harvests and overflowing grain bins will help India to meet wheat import needs of the world’s top buyers as Russia’s Ukraine invasion hits supplies from the Black Sea region, a top government official said. India, the world’s second biggest wheat producer, is prepared to meet …

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India should not accelerate energy purchases from Russia -U.S. administration official

11 Apr 2022 11 Apr 2022

WASHINGTON (Reuters) – U.S. President Biden discussed issues regarding Ukraine, including India’s energy purchases from Russia, with Prime Minister Narendra Modi in a virtual meeting on Monday but did not make a “concrete ask,” a senior U.S. administration official said. India will make its own decisions, but the United States believes India should not accelerate …

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India watchdog recommends 36% cut in base price of prime 5G spectrum

11 Apr 2022 11 Apr 2022

NEW DELHI (Reuters) – India’s telecoms watchdog on Monday recommended a 36% cut from its earlier proposed base price for the auction of a prime spectrum for 5G networks, signaling some relief to India’s cash-strapped telecom sector. The move comes as India’s government is gearing up for next-generation 5G airwaves auction later this year, which …

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Cricket-Ashwin’s ‘retired out’ tactic may catch on

11 Apr 2022 11 Apr 2022

By Amlan Chakraborty NEW DELHI (Reuters) – Ravichandran Ashwin became the first player to be ‘retired out’ during an Indian Premier league (IPL) on Sunday, making way for a more attacking batter to accelerate the scoring, and pundits predict more teams will adopt the tactic. Promoted to number six in the Rajasthan Royals order, Ashwin …

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