Prime Minister Narendra Modi's bet on higher public spending to spur economic activity in India has started paying off, as capital investment shows signs of sustained revival after years of uneven growth.
MUMBAI - The company behind Cafe Coffee Day, India's biggest coffee chain, has raised 3.34 billion rupees ($51 million) from "cornerstone" investors ahead of the formal opening of the country's biggest stock market flotation in three years.
State-owned firms may have to give half their freight business to local shippers to help rescue an industry battered by the global commodities downturn. The cabinet could as early as next month consider making it mandatory for state-owned oil, steel, coal and fertiliser importers to route at least half of their cargoes through local shippers, a government source said. Full Article
Increased outsourcing of digital technology services by western companies helped Tata Consultancy Services Ltd, India's largest software services exporter, post a 14.5 percent rise in quarterly net profit, meeting market expectations. Full Article
Violence against writers and a misplaced sense of political correctness pose new dangers to freedom of speech in the West, writer Salman Rushdie said on Tuesday. Rushdie, the subject of an Iranian death threat in 1989 for his book "The Satanic Verses", said he had not expected freedom of expression to come under attack again to this extent in the western world. Full Article
Gold discounts in India widened to a three-month high this week as retail demand remained sluggish amid ample supplies and higher prices. Buying elsewhere in Asia was also lacklustre. China disappointed with moderate post-holiday demand and physical prices fell in some other major trading centres. Prolonged weakness in Asian demand could hamper a rally in global gold prices. Full Article
Malaysia Airlines Flight 17 was shot down over eastern Ukraine by a Russian-made Buk missile, the Dutch Safety Board concluded on Tuesday in its final report on the July 2014 crash that killed all 298 people on board. Full Article | Ukraine PM accuses Russian forces
Palestinian men armed with knives and a gun killed at least three people and wounded several others in a string of attacks in Jerusalem and near Tel Aviv on Tuesday, police said, on a "Day of Rage" declared by Palestinian groups. Read | New 'Intifada'?
An ascendant Hindu nationalist group wants minority Muslims and Christians to accept that India is a nation of Hindus, and is pushing some of them to convert. What is unfolding is a battle for the soul of India. Full Article
Real Madrid forward Cristiano Ronaldo collected a record fourth Golden Shoe award as Europe's top scorer on Tuesday for his 48-goal haul in La Liga last season and said he is hungry for more. Full Article
Pope Francis, by stepping down a road towards judgment-free attitudes to forbidden sex, has put himself in the same dangerous position as that taken by Mikhail Gorbachev, the last general-secretary of the Soviet Communist Party, when he subjected the dogmas of communism to ever freer, ever more radical debate. Read column