NEW DELHI - Jet Airways, which recently agreed to sell a 24 percent stake to Gulf carrier Etihad, reported a wider quarterly loss, hurt by higher costs.
NEW DELHI - India has made "tremendous progress" in reducing oil imports from Iran, a senior U.S. government official said on Friday, in a sign the South Asian nation is likely to get a third waiver from sanctions imposed by Washington against Tehran's nuclear programme.
Shares in Wockhardt plummeted as much as 19.3 percent on Friday to their lowest since August 2012, continuing to reel for the second day, after the U.S. Food and Drug Administration imposed an "import alert" on a plant operated by the generic drugmaker. Full Article | Quote
A North Korean envoy told China's president on Friday that his reclusive country was willing to take "positive actions" to ensure peace and stability on the Korean peninsula, as China steps up diplomatic efforts to bring Pyongyang back to talks. Full Article
New England aviation company Terrafugia has unveiled its latest conceptual version of a flying car. Unlike its current flying car, which is designed for pilots, the new design incorporates autonomous functionality, a move the company says will open up the skies to everybody. Terrafugia is already testing a flying car prototype called the Transition. Video
The BSE Sensex snapped a four-day losing streak to edge higher on Friday, rebounding as Tata Steel surged after its March-quarter operating profit beat analyst estimates and as recently beaten-down blue-chips such as Larsen & Toubro recovered. Full Article
For months, markets have been dancing to central bankers' tune, but that may now be changing. It must have been fun to be a central banker in the early part of 2013. That seems to have ended rather abruptly in the 24 hours beginning with the Bank of Japan's disappointing response to bond market volatility and including Ben Bernanke's anodyne but market-roiling comments on Wednesday on the possibility of a policy taper. Full Article
The reaction to Federal Reserve Chairman Ben Bernanke's tediously familiar statement, and release of the equally repetitive minutes of the last Fed meeting, was some of the wildest gyrations seen in the world’s financial markets for months. Why did the financial world react in this manic-depressive way to a statement that was bland and predictable? Commentary
In Moscow, they are “non-Soviet Russians.” In New Delhi, they are a “political Goliath” that may soon awake. In Beijing and Sao Paolo, they are lawyers and other professionals who complain about glacial government bureaucracies and endemic graft. Across the BRIC nations, frustrated members of the middle class are demanding change, but traditional power holders remain entrenched. Commentary
Japan’s government is up to its neck in debt. That, however, is not because the government has been overly profligate, but because Japanese companies have been deleveraging for a long time. If Prime Minister Shinzo Abe’s policies revive private investment, the government’s track record suggests it will tighten its belt. Full Article
Remember fashion’s golden rule: you are what you wear. The Bollywood brigade at this year's Cannes Film Festival may seem a bit like the contestants in the national costume round of a beauty pageant. Keeping their identity intact while representing their country on an international platform is praiseworthy, but is it making a fashion statement? Blog
In his last match as a professional footballer, Beckham did everything to be a key player on the pitch. Thanks to him his team was able to score. However, there was something different this time. You could see his desperation to score, a need to shine, and an attempt to make those final minutes on the pitch last as long as possible. Full Article
WikiLeaks founder Julian Assange may claim to be a champion of transparency, but when an Oscar-winning filmmaker wanted to shine a light on his rise to fame after publishing secret U.S. diplomatic cables on his website, Assange was none too pleased. Full Article