NEW DELHI - India is hoping to win Japanese backing for a nuclear energy pact during a visit by Prime Minister Narendra Modi, and lure investment into its $85 billion market while addressing Japan's concern about doing business with a nuclear-armed country.
TOKYO - Japan and India will next week agree to jointly produce mixed rare earth, with Japan set to start importing from India in 2015 as it tries to wean itself of its reliance on China, the Nikkei business daily said on Thursday.
PM Narendra Modi will promise on Thursday to provide a bank account for every Indian household when he launches a major initiative that could save billions of dollars in welfare spending and help mend strained state finances. The launch of the Jan Dhan Yojana, or the Scheme for People's Wealth, comes after Modi blocked a global trade deal, saying it threatened the interests of poor farmers. Full Article
The CBI will not oppose applications for bail by five men arrested over the murder of two teenage girls hanged from a tree, a source familiar with the case said, paving the way for the suspects' release. The killings in May in Uttar Pradesh shocked the world and stoked political tension between newly-elected Prime Minister Narendra Modi and state officials over the investigation of the case. Full Article
PM Modi denied reports that the son of a top minister was involved in influence peddling, seeking to staunch the type of corruption allegations that sent the last government to election defeat. Modi's office issued the rebuttal shortly after Home Minister Rajnath Singh gave a statement to the media, saying he would quit public life if reports in recent days about his adult son proved to be true. Article
China doesn't have extradition treaties with the United States, Canada and Australia - the three most popular destinations for suspected economic criminals, according to state media. Adding to the allure of those three countries is suspicion there of Chinese law enforcement, along with the quality of life, world-class educational facilities and large ethnic Chinese communities. Full Article
Ratan Tata, the former chairman of salt-to-steel Tata conglomerate, has bought a stake in Indian online retailer Snapdeal, the company said on Wednesday, joining a list of funds who have invested in the country's growing e-commerce industry. Full Article
The two-decades-old practice of selectively allocating mines to metal, cement and power producers is illegal, the court ruled. The judges have not yet decided what punishment to hand out. But investors are prepared for the worst, and for good reason: two years ago, the court cancelled the underpriced sale of telecom spectrum, quashing all 122 licenses in one go. Full Article
Dumping cold water on heads, the social-media phenomenon now boosting research on amyotrophic lateral sclerosis (ALS), is a great way to raise charitable cash. But the drug made by Roche’s target, InterMune, treats an obscure yet equally fatal disease with more sufferers. Full Article
Asia is in the throes of a top-down corporate reform drive. Newish leaders in China, India, South Korea and Japan are pushing to overhaul the way companies work. But investors eyeing better returns will find not all reforms are equal. India has failed over the years to revive its tired state-owned enterprises despite selling off minority stakes in companies. Full Article
Inflation has been high for nearly four years and has not responded to RBI or government policies. This is because the kind of inflation that we have is of an unusual variety and cannot be checked by conventional means. Two types of food are critically important. If production of vegetables and milk increases to catch up with demand, food inflation will drop by two percentage points. Full Article
Former "Batman" star Michael Keaton gave a soaring start to the 71st Venice Film Festival on Wednesday as a crestfallen superhero in "Birdman", a film its Mexican director Alexandro Inarritu called an experiment that could have failed miserably. Full Article