India rules out lowering sugar import tax for now - govt source
NEW DELHI India, the world's biggest sugar consumer, has no plan to lower import duty on the sweetener, at least in the near term, a government official said on Thursday.
MUMBAI Wal-Mart Stores Inc (WMT.N) paid about $234 million in debt related to the purchase of a stake in its Indian joint venture with Bharti Enterprises, which the U.S. retailer ended in October last year, according to its 2014 annual report.
Wal-Mart, the world's largest retailer, had earlier paid $100 million to take over its Indian partner's 50 percent stake in Bharti Wal-Mart Pvt Ltd, which runs 20 wholesale stores under the Best Price Modern Wholesale brand.
The transaction resulted in a net loss of about $151 million, according to the company's consolidated statement of income.
(Reporting by Nandita Bose; Editing by Matt Driskill)
NEW DELHI Some Indian officials have baulked at Apple's demands for concessions before it assembles iPhones there, raising doubts about a spring deadline to launch a key project in Prime Minister Narendra Modi's campaign to lure foreign investors.
LONDON Lloyd's of London said on Thursday it received final regulatory approval for its reinsurance branch in India and will open in time for April reinsurance renewals.