MUMBAI The Reserve Bank of India (RBI) unexpectedly kept its key policy rate unchanged at 6.25 percent on Wednesday, despite calls for action in the face of an intense cash shortage that threatens to slam the brakes on the world's fastest-growing large economy.
PESHAWAR/ISLAMABAD, Pakistan At least 40 people died when a plane carrying 48 passengers crashed into a mountain in northern Pakistan on Wednesday and witnesses at the site of the flaming wreckage said there were unlikely to be any survivors.
PIDIE JAYA, Indonesia Nearly 100 people were killed and hundreds injured in Indonesia on Wednesday when a strong earthquake hit its Aceh province and rescuers used earth movers and bare hands to search for survivors in scores of toppled buildings.
NEW DELHI Tata Sons' interim chairman Ratan Tata reached out to shareholders of Tata group companies on Wednesday, seeking their support to remove Cyrus Mistry from the board of these companies.
MUMBAI India's bankers welcomed the Reserve Bank of India's decision to reverse an order that forced them to surrender all their deposits, saying it would allow them to lower their lending rates even after interest rates were kept unchanged on Wednesday.
WASHINGTON Time Magazine named U.S. President-elect Donald Trump its person of the year on Wednesday, citing the upheaval in American politics brought about by the New York businessman's election campaign and victory.
MUMBAI Indian banks have so far received roughly 11.5 trillion rupees ($169.45 billion) in discontinued currency since the government decided to abolish high value bank notes last month, RBI deputy governor R. Gandhi said on Wednesday.
LONDON The referendum in which Britons voted to leave the European Union is not legally binding, the Supreme Court was told on Wednesday during a hearing on who has the power to trigger Brexit.
NEW DELHI (Thomson Reuters Foundation) - One third of children living in the slums of Bangladesh's capital spend more than 60 hours a week making clothes for the garment sector, well beyond the legal working limit, a London-based thinktank said on Wednesday.
MUMBAI Cricketers could be 'red-carded' by umpires and ejected from the ground for the duration of a match from next October after the sport's lawmakers on Wednesday recommended on-field sanctions to address declining standards of player behaviour.