Obama In India
U.S. President Barack Obama endorsed on Monday India's long-held demand for a permanent seat on the U.N. Security Council, a largely symbolic move that may put diplomatic pressure on rival regional power China. Full Article | Slideshow
MUMBAI - The rupee gained on Friday, recovering from its nine-month low hit in the previous session as sentiment improved after China cut interest rates and as domestic shares soared to record highs ahead of the start of the winter session of parliament.
Reuters Market Eye - Markets shift focus to July-September GDP data due on Nov. 28, the last major economic indicator ahead of the RBI review on Dec. 2.
MUMBAI - The RBI allowed external commercial borrowings to be parked with banks in the country as term deposits for up to six months pending their utilisation.
NEW DELHI - Prime Minister Narendra Modi is increasing his focus on economic reforms including raising the cap on foreign investment in the insurance sector and changes to tax and labour rules that could accelerate recovery, but he faces stiff opposition.
NEW DELHI - Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target without cuts.
MUMBAI - Worried by potentially destabilising hot money flows, the Reserve Bank of India (RBI) could take action if foreign investors pour excessive amounts into mutual funds to bypass limits on ownership of government debt, according to a senior policymaker.
NEW DELHI - India will spend 253 billion rupees ($4.1 billion) to tackle rampant theft of electricity by rolling out metering in cities and upgrading old distribution networks, the power ministry said late on Thursday.
MUMBAI - The BSE Sensex and Nifty soared to record highs on Friday as lenders surged after Kotak Mahindra Bank's acquisition of ING Vysya sparked hopes for further consolidation in the sector, while expectations of more reforms ahead of the winter session of parliament also helped.
Reuters Market Eye - Texmaco Rail & Engineering gains 2.2 percent, while Titagarh Wagons Ltd is up 4.3 percent.
Obama's India visit should affirm New Delhi’s global role, says Lisa Curtis. Full Article
Obama's visit to India has become a veritable one-day cricket match with a ball-by-ball commentary. Full Article