HSBC to shut down India private banking business

HSBC Holdings Plc is shutting its private banking unit in India, marking the exit of another foreign bank from the cut-throat wealth management business in Asia's third-largest economy.

IEA sees India's oil imports rising despite plans to up domestic output 2:22pm IST

NEW DELHI India's reliance on foreign oil will jump from 80 percent to 90 percent by 2040 and it would lead global energy demand growth, the International Energy Agency said in a report on the world's third largest energy consumer released in New Delhi on Friday.

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A rupee coin is seen in this picture illustration taken in Mumbai April 30, 2012. REUTERS/Vivek Prakash/Files

Modi needs to show Indians more reasons to save

On paper, India's households have more reason than ever to save. But convincing them that the RBI can keep inflation low is proving difficult, hindering the country's ambitious growth plans.  Full Article 

A women uses a hand-pump to fill drinking water on the outskirts of Amritsar in Punjab, India, November 15, 2015. REUTERS/Munish Sharma
Fighting Drought

Quest for water hampered by thirsty crops

Pleas by local officials for farmers to switch from rice to oilseeds and pulses and protect dangerously low water levels are falling on deaf ears, and may be further undermined by government policies encouraging cultivation of thirsty crops. Back-to-back droughts for the first time in nearly 30 years mean some rural areas in the north are running out of water for human consumption and agriculture.  Read 

Chief of India's ruling Congress party Sonia Gandhi gestures as she answers a question during the release of the party's manifesto for the April/May general election in New Delhi March 26, 2014. REUTERS/Adnan Abidi

Modi to meet Sonia to discuss new indirect tax

Prime Minister Narendra Modi invited opposition Congress party leader Sonia Gandhi for talks on Friday to break a deadlock over the introduction of a new goods and services tax (GST). The face-to-face meeting between the two rivals would be the first since Modi rose to power 18 months ago, and could herald a long-awaited compromise on the proposed GST.  Full Article 

Reserve Bank of India (RBI) Governor Raghuram Rajan smiles before delivering a lecture at the India Habitat Centre in New Delhi, November 6, 2015. REUTERS/Anindito Mukherjee
Reuters Poll

RBI expected to hold policy rates steady

The RBI is expected to hold the repo rate at 6.75 pct next week to stifle inflation, while data is seen showing economic growth accelerated to 7.3 pct in the September quarter, a Reuters poll showed. All 45 economists surveyed expected the RBI to stand pat at its policy review, while the range of forecasts for GDP growth for the latest quarter was between 6.9-7.6 pct, with the median at 7.3 pct.  Full Article 

Russia's President Vladimir Putin speaks during a news conference after a meeting with his French counterpart Francois Hollande at the Kremlin in Moscow, Russia, November 26, 2015. REUTERS/Alexander Zemlianichenko/Pool
Fighting Militancy

Putin seeks map of forces not to bomb in Syria

Russian President Vladimir Putin has asked France to draw up a map of where groups fighting Islamic State militants operate in Syria in order not to bomb them, France's foreign minister said.  Full Article 

Nicolas Anelka looks on during an English Premier League soccer match in West Bromwich, central England January 20, 2014. REUTERS/Darren Staples/Files

Anelka eyes lucky 13th after Mumbai dejection

Dejected French striker Nicolas Anelka is on the hunt for his 13th club after failing to guide Mumbai City into the knockout stage of the Indian Super League. Anelka joined Mumbai as a player last year and took over the coaching duty as well this year.   Full Article 

Police officers stand guard outside the court house, blocking roads to the Guangzhou People's Court in the southern Chinese city of Guangzhou September 12, 2014. REUTERS/James Pomfret/Files

Chinese rights activist jailed for six years

A prominent Chinese rights activist, Guo Feixiong, was sentenced to six years imprisonment on Friday by a court in southern China, amid a continuing crackdown on human rights advocates across the country, his lawyer said on Friday.  Full Article 

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