Edition:
India

India to pick industry champions as defence buying plan cleared

Photo

NEW DELHI India approved on Wednesday a long-awaited policy to boost local defence manufacturing by effectively picking industry champions that would tie up with foreign players to make submarines, fighter jets, helicopters and armoured vehicles.

Debt concerns pile pressure on shares in Reliance Communications

MUMBAI Shares in Reliance Communications fell nearly 10 percent on Wednesday after a sell-off in its bonds, sparked by concerns that the debt-laden firm may be unable to repay its lenders amid intense competition in the sector.

India to raise over $350 million in bonds to fund clean energy programs

NEW DELHI India's cabinet on Wednesday approved a proposal to raise over $350 million from a bond sale to fund its renewable energy development schemes in a bid to achieve its ambitious clean energy goals.

Fed ties rate hike to economic rebound, sees balance sheet cuts in 2017

WASHINGTON Federal Reserve policymakers agreed they should hold off on raising interest rates until it was clear a recent U.S. economic slowdown was temporary, though most said a hike was coming soon, minutes from their last policy meeting showed on Wednesday.

Mahindra & Mahindra to build long-range electric vehicles

MUMBAI Automaker Mahindra & Mahindra will invest in building long-range electric vehicles, high-power battery packs and power trains in an effort to boost green car sales, senior company executives said on Wednesday.

Analysis - India's electric vehicles push likely to benefit Chinese car makers

NEW DELHI India's ambitious plan to push electric vehicles at the expense of other technologies could benefit Chinese car makers seeking to enter the market, but is worrying established automakers in the country who have so far focused on making hybrid models.

Ebix to invest $120 million for stake in digital payment provider ItzCash

NEW DELHI U.S.-based software firm Ebix Inc will pay 8 billion rupees ($120 million) for a majority stake in Indian payment provider ItzCash, the companies said on Wednesday, the latest foreign investment in India's booming digital payments market.

Arrests in Manchester, Tripoli as police hunt suicide bomber's network

MANCHESTER, England Police made arrests in Manchester and Tripoli on Wednesday as the investigation into a suicide bomber who killed 22 people at a concert venue packed with children focused on tracking down a network of accomplices who authorities fear could strike again. | Video

Suspected suicide bombers kill three police officers, wound 10 in Jakarta

JAKARTA Two suspected suicide bombers killed three Indonesian police officers and injured 10 people on Wednesday night in twin blasts near a bus station in the eastern part of the capital, police said.

Nepal PM Prachanda resigns ahead of final round of local elections

KATHMANDU Maoist Nepali Prime Minister Prachanda resigned on Wednesday, barely nine months after coming to power, creating a leadership vacuum weeks before the second round of local elections, the first to be held in more than two decades.

Trump tax reforms could push Israeli tech companies to the U.S.

JERUSALEM U.S. President Donald Trump's plans for sharp cuts to corporate taxes will lead Israeli technology companies, a lynchpin of Israel's economy, to consider shifting their domicile to the United States, industry and accountancy executives say.