Prime Minister Narendra Modi hosted opposition Congress party leader Sonia Gandhi for talks on Friday to try and break a deadlock over launching a new indirect tax, in a bid to put his economic recovery agenda back on track.
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.
Increasingly erratic rainfall has led to the spread of fungal diseases in the berries, and much hotter temperatures have cut into production over the last three years, farmers say. Full Article
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
On paper, India's households have more reason than ever to save. But convincing them that the central bank can keep inflation low is proving difficult, hindering the country's ambitious growth plans. That raises the stakes for PM Narendra Modi's government, which wants to channel more savings into investments that can generate both growth and jobs, to boost chances of winning a second term. Full Article
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
Turkish President Tayyip Erdogan warned Russia not to "play with fire", but added he did not want to harm relations with Moscow, comments that look more likely to inflame than quell the dispute over a downed Russian jet this week. Read | Putin refuses contacts with Erdogan
France paid tribute on Friday to the 130 mostly young people killed while they were enjoying themselves in Paris two weeks ago by Islamist gunmen and suicide bombers in the most deadly attacks the nation has seen since World War Two. Full Article | Video
If Elon Musk's vision of millions of households producing all their own power becomes a reality, it will probably happen first in Germany. But he will face a battle for market share against local firms with years of experience in renewable energy. Full Article
HSBC Holdings Plc is closing its private banking unit in India as part of its group strategy, the bank said, marking the exit of another foreign bank from the cut-throat wealth management business in Asia's third-largest economy. Full Article
A live broadcast of Judi Dench and Kenneth Branagh starring in Shakespeare's "The Winter's Tale" was the biggest cinema box office draw in Britain on the night of the screening, the show's publicists said. Full Article