Regulatory News

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Indian businesses turn sceptical on Modi's landmark tax reform

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NEW DELHI - For years Indian businesses have lobbied for a nationwide sales tax, hoping to replace a chaotic structure that inflates costs and halts their trucks at state borders for duty payments, and to unify the country into one of the world's largest single markets.

India's $100 billion solar push draws foreign firms as locals take backseat

NEW DELHI/MUMBAI - India's $100 billion push into solar energy over the next decade will be driven by foreign players as uncompetitive local manufacturers fall by the wayside, no longer protected by government restrictions on the sector.

Top News, 1:12pm IST

India to spend $8 billion to boost irrigation, reduce dependence on monsoon

NEW DELHI/MUMBAI - India has approved spending of 500 billion rupees ($7.9 billion) over five years to expand irrigation in rural areas to boost crop productivity and it also plans an online agricultural market to help farmers get better prices for their produce.

Top News 2:36pm IST

RBI says willing to let foreigners hold more govt debt

CHENNAI, India - The Reserve Bank of India (RBI) is committed to steadily increasing how much government debt foreign investors can buy, but will proceed cautiously to avoid becoming too reliant on overseas capital, Governor Raghuram Rajan said on Thursday.

Top News, 4:42pm IST

India to roll out cash transfer of food subsidies from Sept - official

NEW DELHI - India plans to phase in cash transfers of food and kerosene subsidies from September, saving 10-15 percent of the $21 billion in annual outlays on the benefits by eliminating fraud, a senior finance ministry official said on Thursday.

Top News, 6:20pm IST

Indian Super League buzzing with reports of Carlos arrival

MUMBAI - Amid talks of former Brazil and Real Madrid defender Roberto Carlos joining the Delhi team as marquee manager, the second season of the Indian Super League is kicking up the same kind of buzz that preceded the inaugural edition of the tournament.

6:40pm IST

No casualties, no shooter spotted at Washington Navy Yard - media

WASHINGTON - There were no casualties or injuries at the Washington Navy Yard, CBS News reported on Thursday following a lockdown at the facility in the nation's capital amid reports of a shooting.

Top News, World 6:31pm IST

Jaguar Land Rover signs partnership to build cars in Austria

LONDON - Luxury carmaker Jaguar Land Rover [TAMOJL.UL] has signed a contract to build some vehicles in Austria, it said on Thursday, a further expansion away from its UK manufacturing base.

Top News, 4:35am IST

"Wow, pulled back wrong throttle" - captain of crashed TransAsia plane

TAIPEI/SINGAPORE - The pilot flying a TransAsia Airways ATR mistakenly switched off the plane's only working engine seconds before it crashed in February, killing 43 people, Taiwan's Aviation Safety Council (ASC) said in its latest report on Thursday. | Video

BBC says to cut more than 1,000 jobs as viewers trade TVs for Internet

LONDON - The BBC said it will cut more than 1,000 jobs because it expects to receive 150 million pounds ($234 million) less than forecast from the licence fee next financial year as viewers turn off televisions and watch programmes on the Internet.

Top News, Tech, 4:00pm IST
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