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Fed's Yellen sees gradual rate hikes starting this year


SAN FRANCISCO/WASHINGTON - Federal Reserve Chair Janet Yellen signalled that the U.S. central bank will likely start raising borrowing costs later this year, even before inflation and wages have returned to health, but emphasized the return to normal interest rates will be gradual.

Business, Economy 3:48am IST

Fri, Mar 27 2015

IndiGo heads for up to $400 million IPO amid travel boom - sources


MUMBAI/NEW DELHI - India's biggest airline by market share, IndiGo, is preparing to file a draft prospectus by May for a stock listing to raise $300 million to $400 million, two people with knowledge of the plans said, aiming to cash in on a boom in budget air travel.

Exclusive: Modi govt puts brakes on India's universal health plan


NEW DELHI - Prime Minister Narendra Modi has asked for a drastic cutback of an ambitious health care plan after cost estimates came in at $18.5 billion over five years, several government sources said, delaying a promise made in his election manifesto.

Top News, World, Business 27 Mar 2015

India turns to 'satellite god' for crop mapping


NEW DELHI - Sher Singh, a farmer from Rajasthan, prays to Varuna, the Hindu god of water, for a bountiful harvest. Now, he is also looking to the heavens for satellite imaging to boost his crop.

Top News, Business 27 Mar 2015

SpiceJet running short of planes for scheduled flights


NEW DELHI - Low-cost carrier SpiceJet Ltd will have to cancel more than a fifth of its planned daily flights if it cannot reach an agreement with its lessors to bring in more aircraft by the end of this month, a company spokesman said.

Vedanta to file notice of claim in Cairn India tax case


REUTERS - Vedanta Resources Plc said it would file a notice of claim related to a tax demand of about 205 billion rupees ($3.29 billion) its unit Cairn India Ltd received from the Indian government this month.

27 Mar 2015

Brazil says will join China-backed Asia investment bank


RIO DE JANEIRO - Brazil said on Friday it had accepted China's invitation to join its Asian Infrastructure Investment Bank (AIIB) as a founding member.

Business, Economy 5:49am IST

Oil dives 5 percent as worries about Iran talks trump Yemen


NEW YORK - Oil tumbled 5 percent on Friday, erasing the previous session's gains, as Yemen's conflict looked less likely to disrupt Middle East crude shipments and investors turned their focus to talks for a potential Iran nuclear deal that could put more supply on the market.

Top News, Business 5:50am IST

Intel in talks to buy Altera, shares of firms surge


By Devika Krishna Kumar, Noel Randewich, Liana B. Baker and Greg Roumeliotis

Business, Tech 5:50am IST

Court says no evidence of cartel in low bids for coal blocks


NEW DELHI - A court on Friday said there was "absolutely no evidence" of collusion in the low winning bids for three of the 33 coal mines put up for auction by the government over the past two months.

Business, Top News 27 Mar 2015