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  • More yuan slides to come? This expert says yes Tuesday, 18 Aug 2015 | 11:54 PM ET
    More yuan slides to come? This expert says yes

    Subir Gokarn, director of research at Brookings India, says other countries competing with China in terms of exports will have to work with the assumption that there will be further depreciation in the yuan.

  • JAISALMER, India, Aug 19- Two-and-a-half years after the completion of a new $17 million terminal building, the airport in Jaisalmer, a small and remote desert city in India's western Rajasthan state, stands empty. India has spent more than $50 million since 2009 on eight airports that do not receive scheduled flights- white elephants that are a reminder of the...

  • Separately, FIH Mobile, a unit of Taiwan's Foxconn, the trading name of Hon Hai Precision Industry Co, said it was acquiring a 4.27 percent stake in Snapdeal for $200 million via its Singapore- based subsidiary Wonderful Stars Pte.. Sources told Reuters this month that Snapdeal was set to raise $500 million from China's Alibaba Group Holding, Japan's SoftBank...

  • *Would be blow to key exporters Malaysia, Indonesia. NEW DELHI, Aug 18- India plans to spend $1.5 billion in the next three years to help farmers grow oil palm trees in an area the size of New Jersey, government sources said, with Prime Minister Narendra Modi pushing to make the nation self-sufficient in edible oils this decade. A successful Indian push into palm...

  • Aug 17- Canadian pipeline operator Enbridge Inc is rationing space for mid-month on its line 4/ 67 ex Kerrobert for August, according to a notice to shippers on Monday that was seen by Reuters. Enbridge restarted two key Canadian crude lines last week after they were shut following a crude oil release in Missouri on Aug 11. The discount on Western Canada Select...

  • Aug 17- Pump and valve maker Pentair Plc agreed to buy fastening products maker Erico Global Co for $1.8 billion in cash, weeks after activist investor Nelson Peltz asked the company to bulk up through deals. Peltz's Trian Fund Management reported a 7.2 percent stake in Pentair in June, becoming the company's third largest shareholder. Pentair Chief Executive...

  • The largest deal in our history: Airbus Monday, 17 Aug 2015 | 4:00 AM ET
    The largest deal in our history: Airbus

    Kiran Rao, head of strategy and marketing of Airbus, says India is the fourth largest aircraft ordering market for the next 20 years, so the deal with IndiGo is huge.

  • Indian official hid $3.2M in 'bribes' in the TV Monday, 17 Aug 2015 | 3:09 AM ET

    A corruption-linked raid of an Indian official's house produced cash piles and jewelry worth $3.2 million, all stashed in peculiar hiding spots.

  • NEW DELHI, Aug 17- India and the European Union are taking steps to end a trade row sparked by an EU ban on Indian pharmaceutical products that New Delhi responded to by canceling talks on a free trade accord with its largest trading partner, officials said. The E.U. Trade Commission says it did not get the letter from Modi's office on the ban, which is linked to flaws in...

  • Modi took office just over a year ago on a wave of optimism that he would quickly revive India's economic fortunes but despite a number of victories, opposition to land and tax shake-ups has slowed his progress. But he made no mention of his flagship "Make in India" project aimed at speeding up India's industrial revolution, and did not talk about weeks of...

  • NEW DELHI, Aug 15- Indian Prime Minister Narendra Modi sought to shed an image that he governs for big business on Saturday, vowing to help the poor in an annual speech aimed at bolstering popularity rather than tackling setbacks to his economic reform plans. Modi took office just over a year ago on a wave of optimism that he would quickly revive India's economic...

  • *Beijing's strategic gaze shifts to "Plan B" Maldives. COLOMBO, Aug 14- Work on a landmark Chinese-backed waterfront development in Colombo could resume after next Monday's general election in Sri Lanka, even if Beijing's preferred candidate for prime minister, ex-President Mahinda Rajapaksa, is defeated. Although avowedly pro-Western in his outlook, Prime...

  • India prepares to pay $1.4 bln Iran oil dues -sources Thursday, 13 Aug 2015 | 5:42 AM ET

    *Indian refiners owe more than $6.5 bln for Iran oil imports. NEW DELHI, Aug 13- Indian refiners have got the green light to prepare to pay Iran $1.4 billion in oil dues, two sources with knowledge of the issue said, in one of the first signs that last month's nuclear deal is helping Tehran unlock frozen funds. The landmark nuclear deal between Iran and six major world...

  • Nestle: Maggi scandal will have knock-on impact Thursday, 13 Aug 2015 | 4:15 AM ET
    Nestle: Maggi scandal will have knock-on impact

    Jon Cox, head of Swiss equities & European consumer equities at Kepler Cheuvreux, says the Maggi noodle recall will have a "legacy impact" on the brand.

  • This could spark a market correction in India Thursday, 13 Aug 2015 | 12:43 AM ET
    This could spark a market correction in India

    Sanjeev Prasad, senior executive director & co-head, institutional equities at Kotak Securities, says the political stalemate in India could take a toll on market sentiment.

  • MUMBAI/ NEW DELHI, Aug 13- It took two months of courting, dozens of negotiators and final talks that ran into the early hours, but the western Indian state of Maharashtra secured its prize: a $5 billion investment commitment from iPhone maker Foxconn. The 5- year deal, announced last weekend, is a reminder of the pulling power of India's wealthiest states- even as the...

  • Aug 12- A faulty compressor may be to blame for a shutdown at the 88,000- barrel-per= day gasoline-making fluid catalytic cracking unit at Philadelphia Energy Solutions' 335,000- bpd plant in Philadelphia, a source familiar with plant operations said on Wednesday. The 200,000 bpd capacity crude unit at the Girard Point section of the refinery is currently...

  • United Steelworkers union president Leo Gerard said: " Washington has been asleep at the switch in dealing with China" and called for action against " China's predatory practices" before more U.S. jobs were lost. That state's Republican and Democratic senators both criticized China's devaluation and linked it to the Trans Pacific Partnership trade talks, even...

  • Why did China weaken the yuan? Our charts explain Wednesday, 12 Aug 2015 | 4:04 PM ET
    A woman trades money at a currency exchange at Haneda Airport in Tokyo, Aug. 12, 2015.

    The U.S. dollar is up 20 percent over the last year. That's not good for Chinese exporters.

  • "They should get together and pass this very beneficial reform for the country," Adi Godrej, chairman of Godrej Group, told Network 18 on Wednesday. But the opposition Congress party Modi defeated in a general election last year seems determined not to give him any victory ahead of his annual Independence Day speech on Saturday, not even support for a bill it...