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India’s RBI may hike rates by 50 bps as inflation accelerates – analysts

MUMBAI (Reuters) – The Reserve Bank of India may raise interest rates by another 50 basis points this month after data showed inflation rose further above the central bank’s tolerance limit in August, analysts said. India’s retail inflation rate rose to 7.0% in August from 6.71% in the previous month, data released on Monday showed. …

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India’s Aug retail inflation accelerates to 7% y/y as food prices surge

BENGALURU (Reuters) – India’s retail inflation accelerated to 7% year-on-year in August, driven by a surge in food prices, adding pressure on the central bank to further hike interest rates later this month. The monetary policy committee (MPC) of the Reserve Bank of India (RBI) has raised the benchmark repo rate by 140 basis points …

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Cricket-Fit-again Bumrah back for India’s T20 World Cup campaign

By Amlan Chakraborty NEW DELHI (Reuters) – India welcomed back Jasprit Bumrah in their Twenty20 World Cup squad on Monday, also recalling a fit-again Harshal Patel to bolster their pace bowling department. Bumrah, whose unorthodox action and ability to bowl yorkers at will make him an asset particularly in the shortest format, missed the recent …

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Exclusive: IMF eyes expanded access to emergency aid for food shocks – sources

By Jorgelina do Rosario and Andrea Shalal LONDON/WASHINGTON (Reuters) – The International Monetary Fund is looking for ways to provide emergency funding to countries facing war-induced food price shocks and will discuss measures at an executive board meeting on Monday, sources familiar with the matter told Reuters. The plan, which has not previously been reported, …

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India’s Modi to attend SCO regional security bloc summit next week

MUMBAI (Reuters) – Indian Prime Minister Narendra Modi will attend a summit of regional security bloc Shanghai Cooperation Organisation (SCO) next week, the government said in a statement on Sunday. It said Modi is likely to hold bilateral meetings on the sidelines of the summit during a two-day visit to Uzbekistan, which is hosting the …

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UN chief calls for ‘massive’ help as Pakistan puts flood losses at $30 billion

By Asif Shahzad ISLAMABAD (Reuters) – U.N. Secretary-General Antonio Guterres called for “massive” international support for flood-ravaged Pakistan while visiting the country on Friday, while Islamabad put the cost of flood-related damage at $30 billion. Record monsoon rains and glacier melt in northern mountains have triggered floods that have swept away houses, roads, railway tracks, …

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Olympics-India faces Olympic ban if governance dispute not resolved

BERLIN (Reuters) – The Indian Olympic Association (IOA) risks being banned from the Olympic Games by December if it does not resolve a number of governance and election disputes, the International Olympic Committee (IOC) said on Thursday. The IOC Executive Board also decided to postpone its session in Mumbai in May 2023 to September/October. The …

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India’s Modi hails Queen Elizabeth as ‘stalwart of our times’

NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi hailed Britain’s Queen Elizabeth as an inspirational leader following her death on Thursday. “Her Majesty Queen Elizabeth II will be remembered as a stalwart of our times,” Modi wrote on Twitter. “She provided inspiring leadership to her nation and people. She personified dignity and decency in …

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