MUMBAI - A rally in shares to a record high is masking an underlying weakness - the market has been lifted by just a handful of stocks of exporters reaping the benefits of a slump in the rupee.
NUSA DUA, Indonesia - Ministers from nearly 160 member countries of the World Trade Organisation entered a final day of negotiations on Friday with officials sounding optimistic over chances of salvaging a deal that would save the trade body from sliding into irrelevance.
A recovery in the rupee is giving the finance minister relief in his battle against a threatened credit rating downgrade to junk status by reducing pressure on the subsidy bill. Still, the minister can only meet his fiscal deficit target by rolling over a substantial amount of subsidy spending into next year's budget and by finding big savings elsewhere, two senior finance ministry officials said. Full Article
U.S. Vice President Joe Biden said on Friday that North Korea would never achieve prosperity as long as it continued to pursue nuclear arms, but added Washington remained open to dialogue if Pyongyang can show its willingness to honour its commitments. Full Article
The Bharatiya Janata Party (BJP) is likely to win in four of the five states that went to polls over the past month, exit poll surveys conducted by Cvoter and the India Today-ORG group showed. Such a victory will be a boost for the party and its prime ministerial candidate Narendra Modi ahead of the 2014 general elections. Full Article | Related Story
A fired-up Mitchell Johnson dismissed England captain Alastair Cook cheaply in a hammer blow for the tourists after Australia declared for a mammoth first innings of 570 to be firmly in control after day two of the second Ashes test on Friday. Full Article
Nelson Mandela guided South Africa from the shackles of apartheid to multi-racial democracy, as an icon of peace and reconciliation who came to embody the struggle for justice around the world. Article | World mourns 'giant for justice'
The website of China's biggest Internet video company Youku Tudou Inc was once a haven for illicit Hollywood blockbusters and hit South Korean soap operas, until it realised piracy really doesn't pay. Full Article