MUMBAI - The Reserve Bank of India (RBI) issued draft guidelines on Tuesday for its proposed plan to change how banks calculate their lending rates, which would make them more responsive to monetary policy actions but would likely be opposed by the sector.
REUTERS - Indian manufacturing growth eased in August as the pace of orders softened, forcing factories to cut selling prices at the fastest rate in more than six years, a business survey showed on Tuesday.
JAKARTA - Global economic growth is likely to be weaker than earlier expected, the head of the International Monetary Fund said on Tuesday, due to a slower recovery in advanced economies and a further slowdown in emerging nations.
LONDON/BEIJING - China's giant manufacturing industry contracted while British and euro zone growth eased in August, rattling markets and reinforcing expectations interest rates may fall again or stay near zero for longer.
BEIJING/SHANGHAI - Activity in China's factory sector shrank at its fastest rate in at least three years in August as domestic and export orders tumbled, hitting global markets and increasing fears that the world's second-largest economy may be heading for a hard landing.
NEW DELHI - Indian growth slowed by more than expected in the quarter to June, a setback for Prime Minister Narendra Modi that will prompt more urgent calls from his aides for interest rate cuts.
OTTAWA - The Canadian economy shrank again in the second quarter, putting the country in recession for the first time since the financial crisis, with a plunge in oil prices taking a toll as business investment fell and inventory accumulation slowed.
SHANGHAI - China's central bank plans to tighten rules on trading of currency forwards from October, sources with direct knowledge of the matter told Reuters, in a move to curb speculation and volatility after a shock devaluation of the currency last month.
SHANGHAI - Activity in China's vast factory sector shrank at its fastest pace in almost 6-1/2 years in August, a private survey showed on Tuesday, increasing investor fears that the world's second-largest economy may be lurching toward a hard landing.
LAUNCESTON, Australia, - --Clyde Russell is a Reuters columnist. The views expressed are his own.--
NEW DELHI - India has waived retrospective imposition of a minimum alternative tax (MAT) affecting foreign funds, the Finance Minister said on Tuesday, a move that could resolve a dispute that had shaken investor confidence.