BANGALORE/MUMBAI - India's third-biggest IT services exporter Wipro posted a 29.6 percent rise in quarterly profit, slightly lagging estimates, on the back of higher spending by overseas clients.
MUMBAI - The benchmark BSE Sensex and the broader Nifty rose to record highs on Thursday after cabinet approval for a higher foreign direct investment limit in insurance and a rejig in foreign debt limits reinforced optimism about the government's reform agenda.
Abu Dhabi National Energy Co (TAQA) is pulling out of a $1.6 billion deal to buy two Indian hydroelectric power plants because of "a change in strategy", a senior TAQA official told Reuters on Thursday. In March, TAQA said a consortium led by it had agreed to buy the two power plants from Jaiprakash Power Ventures. The consortium was to spend $616 million on equity in the plants. Full Article
The outlook for emerging Asia has dimmed further this year on weak demand for exports, although growth in India is expected to accelerate into 2015 even as China is held back in part by a slowing property market, Reuters polls showed. Full Article
India is set to offer Nepal a landmark pact to help develop its huge hydro-electric power potential as the South Asian giant takes another step to re-assert influence among smaller neighbours where China has been forging closer ties. Foreign Minister Sushma Swaraj heads to Kathmandu on Friday to prepare the way for PM Narendra Modi's August visit, the first by an Indian PM in 17 years. Full Article
Apple Inc's latest quarterly results showed sales of its high-end phones in China grew at nearly twice the pace analysts had expected. Meanwhile, budget offerings from Chinese firms won at the cheaper end, effectively squeezing industry leader Samsung. Full Article
Ipca Laboratories Ltd has voluntarily halted shipments to the United States from one of its drug ingredient manufacturing plants after the U.S. Food and Drug Administration found violations of standard production practices at the site. Full Article | Quote
The Ganges is sacred in Hinduism, and Varanasi, which lies on its banks, is one of the oldest and holiest sites for Hindu pilgrims from all over the world. Dying and having your ashes scattered here is a sacred thing for Hindus who believe that it brings “moksha,” or freedom for the soul from the constant cycle of death and rebirth. To attain this salvation, many travel to Varanasi to die Full Article
Although many Egyptians view Hamas as an ally of the Muslim Brotherhood, most sympathize with the Palestinians. When they see the scale of casualties - for example, the death and destruction in the Shuja’iah neighborhood in Gaza - they overwhelmingly blame Israel. This is true even as their leaders express anger over Hamas’ refusal to accept ceasefire proposal. Commentary
Although Ronald Reagan's record in raising taxes and adding to the deficit would make him ineligible to become the nominee were he still alive, the contestants of 2016 U.S. presidential race are already comparing themselves with the only Republican president whose conservative credentials are made of the same material as earned him his nickname, the “Teflon president.” Full Article
As India's capital baked in a heat wave, banker Gaurav Gupta sat down for lunch at a new air-conditioned restaurant, to be greeted by a smiling waiter who took his order for a traditional "thali" meal of flatbread, lentils, vegetables and rice. Nothing unusual, except that the employee, like most of his colleagues, is a convicted murderer serving time in Tihar Jail. Full Article
I’ve become pretty great at rocket dodging. As a New Yorker living in Tel Aviv while researching a book, I never thought I’d say that. And yet it’s true: since Hamas began firing rockets into Tel Aviv on July 8, I’ve learned to move quickly. I’m witnessing just a sliver of what it’s like for Israelis trying their best to live a “normal” life in a kind of twilight zone where different rules apply. Commentary
Getting bigger for bigness’s sake makes sense for a sumo wrestler. But does that apply to a media conglomerate? There’s a panic element to the Murdoch offer, too. At the age of 83, how many more deals can he possibly consummate? Of course, that’s what they all said when Murdoch was 73, and had not yet bought the Wall Street Journal for $5 billion. But 83 is not the new 73. Full Article
Shuttler Parupalli Kashyap has his sights set on one of Glasgow's many karaoke bars should he win gold for India at the Commonwealth Games. Full Article
A look at some pictures of Indian tennis star Sania Mirza whose world ranking once rose as high as 27th in singles. Slideshow