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.
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.
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
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
Strawberries are a treat for many, but they are increasingly leaving a sour taste in the mouths of growers in Meghalaya, in India’s northeast. 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
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
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. Full Article
Rival petitions in Singapore have gathered thousands of online votes in a lively debate over whether Adam Lambert is too sexy to be allowed to perform at its largest New Year's eve concert. Full Article