MUMBAI Rating agency Moody's said on Friday it has withdrawn its credit rating on Reliance Communications, as it considers the Indian telecom operator to be in default for missing an interest payment on its bonds that was due last week.
MUMBAI/NEW DELHI India has raised import tax on edible oil to the highest level in more than a decade, the government said in an order, as the world's biggest importer of edible oils tries to support its farmers.
FRANKFURT Volkswagen will invest 22.8 billion euros ($26.9 billion) in its main car brand over the next five years, it said on Saturday, a day after it announced a spending programme aimed at bolstering its position as a maker of electric cars.
KOLKATA Fifties from Lahiru Thirimanne and Angelo Mathews kept Sri Lanka firmly on course for a handy first-innings lead against India on day three of the rain-hit first test on Saturday.
BRUSSELS U.S. smartphone chipmaker Qualcomm is set to win “imminent” Japanese antitrust clearance for its $38-billion bid for NXP Semiconductors and gain Europe’s approval by the end of the year with slight tweaks to its concessions, a person familiar with the matter said.