NEW DELHI - India's economy is expected to grow at around 5.5 percent in the fiscal year to March 2015, the finance ministry said in a report tabled in parliament on Friday.
BSE Sensex up 1.23 percent, while the Nifty gains 1.18 percent. Nifty trading above 50-day moving average after breaking it on Monday.
Since 2001 the United States has tried virtually every strategy available to persuade Pakistan's army to take the threat of militancy more seriously, but 12 years and $28 billion in aid later, all the American approaches are widely viewed as having failed. Full Article
Google Inc is laying the groundwork for a version of Android OS that would be built directly into cars, sources said, allowing drivers to enjoy all the benefits of the Internet without even plugging in their smartphones. Read | U.S. judge finds Google antitrust lawsuit vague
It's the most anticipated Bollywood film of the year and no one knows what it's about. "PK" opens in Indian cinemas on Friday with audiences still in the dark about the film's storyline or why its naive and unworldly protagonist with pointy ears never blinks. Full Article
SpiceJet’s woes are all too familiar. India is cajoling banks to lend to the country’s second largest single-brand carrier when the debt-ridden airline needs more equity. The government’s hope is to save jobs and prevent a repeat of the failure of Kingfisher Airlines. Even if the rescue works, exorbitant fuel taxes and lack of a bankruptcy law will keep the industry stuck in an air pocket. Full Article
Uber’s law flouting could bring its joyride to a screeching halt. The taxi app company is covering its drivers’ fines for illegally picking up passengers. That may be just another business expense to a firm that earned a $40 billion valuation by moving quickly and breaking the rules. But the legal, lobbying and public relations costs of reckless behavior are accelerating fast. Full Article
Saudi Arabia is once again using its “oil weapon”. The kingdom has two targets in its latest oil war: it is trying to squeeze U.S. shale oil - which requires higher prices to remain competitive with conventional production - out of the market. More broadly, the Saudis are also punishing two rivals, Russia and Iran, for their support of Bashar al-Assad’s regime in the Syrian civil war. Commentary
Washington made the woes of cyberattack victim Sony Pictures its own as the White House acknowledged that the devastating strike against the big Hollywood studio was a matter of national security that would be met by a forceful government response. Full Article