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.
Fri, Mar 27 2015
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.
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.
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.
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.
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.
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.
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.
By Devika Krishna Kumar, Noel Randewich, Liana B. Baker and Greg Roumeliotis
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.