BANGALORE - India's factory activity expanded at its fastest pace in 17 months in July as firms responded to burgeoning new orders by increasing output even as input prices jumped sharply, a business survey showed on Friday.
Reuters Market Eye - The rupee <INR=D2> falls to 60.80 versus the dollar, its lowest since April 25. The pair was last trading at 60.7750/78 compared with its Thursday close of 60.55/56.
Israel and Palestinian militant groups in the Gaza Strip have agreed to a three-day humanitarian truce to begin Friday morning, and negotiators from both sides will travel to Cairo to discuss a longer-term solution. Full Article | U.N. overwhelmed by Gaza crisis
India is scrambling to crack down on a new gold smuggling tactic that it fears could accelerate a flood of illegal imports of the precious metal into the world's second-biggest buyer. India last year imposed a record 10 percent import duty and made it mandatory to export a fifth of all bullion imports, seeking to curb bullion demand that has blown out the trade deficit. Full Article
Tata Motors will launch a passenger car this month, its first new offering in four years, in a bid to regain market share and plug losses in its domestic business, which was also hard hit by the slowing economy. "Zest" is a compact sedan built on a new platform and, in a departure from previous models, boasts user-friendly features such as touch-screen control panels. Full Article
The United States and India stressed their desire to boost business and defense ties on Thursday, but trade and spying rows were a reminder of the obstacles to President Barack Obama's vision of a "defining" partnership. Full Article
It is clear that there are issues with Sino-Indian collaboration on Afghanistan. First among these are differing perceptions on Pakistan and its role in Afghanistan’s current predicament. For China, Pakistani security forces are trying to deal with a monster within their country with links across the border. For Indian authorities, it is a Frankenstein’s monster of Pakistani construction. Full Article
Efforts to fight stigmatized infectious diseases, like HIV and TB, have taught us that advocates from affected communities have an important role to play. Public health workers need to enlist the help of recovered patients and their families to speak about their experiences with medical treatment for the disease. Religious leaders and traditional healers should also be recruited. Read
Inversions are starting to spin out of control. A quest for tax savings has made digestible overseas targets attractive to U.S. buyers. Hospira’s potential $5 bln deal for a Danone unit highlights a fresh supply, for so-called “spinversions.” The odd combination also reflects the perverse incentives distorting corporate decisions. Healthcare companies lead the way trying to move domiciles. Full Article
Russian President’s popularity has soared at home in the wake of his actions in Ukraine – and the masterful spin his intervention has been given. The joy that greeted his seizure of Crimea was due, at least in part, to a propaganda system more virulent than its Soviet predecessor. At the center of the system is a journalist called Dmitry Kiselyev. Read
Flying sharks chomping through New York City drew a record audience for Syfy's "Sharknado 2: The Second One," and became the most tweeted-about TV movie on social media, the U.S. cable network said. Full Article