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India will not back WTO protocol unless concerns addressed - sources
India will not support a trade protocol ahead of a July 31 deadline unless concerns about its food subsidies are met, two senior government officials said on Wednesday, a position that threatens to derail a landmark global trade deal. The determination to link its food subsidy programme, aimed at supporting the poor, to backing the protocol raises the stakes at a World Trade Organization meeting ...
Wed, 23 Jul 2014 09:55:58 -0700

India bulls could get flustered by this
India stocks have sped ahead, rallying more than 23 percent so far this year, but Goldman Sachs sees a potential speed bump from looming share sales.
Wed, 23 Jul 2014 16:08:53 -0700

India bids to reassert influence in Nepal with power pact
By Sanjeev Miglani and Gopal Sharma NEW DELHI/KATHMANDU (Reuters) - India is set to offer Nepal a landmark pact to help develop its huge hydro-electric power potential as the South Asian giant takes another step to re-assert influence among smaller neighbours where China has been forging closer ties. Prime Minister Narendra Modi, who went to Bhutan last month on his first overseas trip since ...
Wed, 23 Jul 2014 14:04:22 -0700

India's new government vows clampdown on healthcare graft
By Aditya Kalra NEW DELHI (Reuters) - India's health minister called for tougher laws on Tuesday after a media report alleged that laboratories had offered kickbacks to doctors who referred patients to their diagnostic centers. Harsh Vardhan has lashed out several times in recent days against bribery in the $74 billion healthcare sector, signaling that the new government will make tackling the ...
Tue, 22 Jul 2014 10:38:07 -0700

New India government urges changes to World Bank
India's new government has called for reforms to the World Bank structure to reflect the "emerging" clout of developing nations in a meeting with visiting bank chief Jim Yong Kim. The government, which took office in May, said in a statement late Tuesday that Finance Minister Arun Jaitley stressed at an evening meeting with Kim the need for significant changes to the way the World Bank operates ...
Tue, 22 Jul 2014 12:32:53 -0700

India's Jet eyes profit by 2017 with boost from Etihad
Jet Airways, India's second-biggest carrier, forecast Wednesday a return to profit in three years through cost-cuts, route-sharing with new partner Etihad Airways and restructuring of hefty debt. "The game plan is in place, it's now about delivery," Jet Airways' new chief executive Cramer Ball told reporters in New Delhi. Ball was speaking at the airline's first news conference with Etihad since ...
Wed, 23 Jul 2014 11:30:55 -0700

Naval ships from US, India and Japan to start war games
The United States, India and Japan are set to kick off week-long war games in the Pacific, beefing up naval ties as they warily eye an increasingly assertive China and its military buildup. Warships from the three countries are to begin the joint exercises on Friday, after an official opening ceremony at the Sasebo Naval Base in southern Japan on Thursday. Known as the Malabar Exercise, the ...
Thu, 24 Jul 2014 00:58:57 -0700

India pays third tranche of oil dues to Iran - sources
India paid a third and final instalment of $550 million to Iran on Thursday, three industry sources said, part of the frozen funds released to Tehran in the interim deal with world powers. Under a pact reached in November, Iran won access to $4.2 billion in oil revenues held by its buyers, to be paid out in eight money transfers through July. The payments were linked to Iran carrying continuous ...
Thu, 24 Jul 2014 04:34:19 -0700

India 'outraged' after Sikh basketballers forced to remove turbans
India said Wednesday it has "shocked and outraged" after learning Sikh members of the national basketball team were not allowed to wear turbans on court at the recent Asia Cup. Sports minister Sarbananda Sonowal said wearing a turban on court did not impact on "fair play" and he was surprised to learn about the incident at the FIBA Asia Cup in China earlier this month. Sonowal said he has asked ...
Wed, 23 Jul 2014 11:50:47 -0700

India allows foreign fund managers to hold more government debt
India on Wednesday allowed foreign fund managers to hold more government bonds, but also stipulated that in future they will not be able to hold debt of less than three years. India allowed foreign institutional investors to hold a combined $30 billion in India government debt at any one time, comprising $20 billion for all foreign investors and $10 billion for long-term investors like sovereign ...
Wed, 23 Jul 2014 07:57:05 -0700


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