Economic growth revised up by almost 50 percent
Published on Saturday, January 31, 2015 5:07 AM
By Manoj Kumar ...
NEW DELHI - India's economy grew almost 50 percent faster in 2013/14 than earlier thought, the government said on Friday after changing a formula, a reminder of the challenges that unreliable statistics present to Indian policymakers.
In the year leading up to the ele
Uber will improve privacy, data security following report
Published on Saturday, January 31, 2015 10:26 AM
By Sarah McBride ...
SAN FRANCISCO - Ride service Uber, which is trying to enhance its image after several controversies, on Friday released the findings of a report on its handling of passenger data and said it would act on all the report's recommendations for improvements.
Lawyers at Hogan
Sun Pharmaceutical wins U.S. approval to buy Ranbaxy
Published on Saturday, January 31, 2015 10:23 AM
WASHINGTON - India's Sun Pharmaceutical Industries Ltd has won U.S. approval to buy Ranbaxy Laboratories Ltd on condition that it sell its interest in a generic antibacterial medicine, the U.S. Federal Trade Commission said on Friday. ...
Sun Pharmaceutical said in April that it had agreed to buy the Indian g
JSW Steel calls for action against Chinese steel "dumping"
Published on Saturday, January 31, 2015 10:20 AM
By Aman Shah ...
MUMBAI - JSW Steel Ltd on Friday urged the government to address "dumping" of cheap steel by Chinese rivals and take steps to improve iron ore availability after lower steel prices led to a 30 percent drop in the company's third-quarter profit.
Steel imports i
Record Coal India share sale boosts privatisation drive
Published on Saturday, January 31, 2015 7:04 AM
By Sumeet Chatterjee and Himank Sharma ...
MUMBAI - India has raised about $3.6 billion by selling a 10 percent stake in state-run Coal India Ltd in the largest ever equity deal in the local market, giving a welcome boost to the government's faltering divestment drive.
The share sale will mov
Adani hives off power, ports businesses to boost growth
Published on Saturday, January 31, 2015 7:07 AM
By Tommy Wilkes ...
NEW DELHI - Indian conglomerate Adani Group unveiled a wide-ranging restructuring of its businesses on Friday in a move designed to make it easier for the group to expand its mining, ports and power operations.
Adani, which has revenues of more than $9.4 billion across its bus
India gets bids worth $3.9 bln in Coal India sale - official
Published on Saturday, January 31, 2015 7:08 AM
NEW DELHI - India received bids worth about 240 billion rupees ($3.87 billion) for the sale of a 10 percent stake in state-run Coal India Ltd, a senior government official said, citing preliminary data. ...
The share sale in the world's largest coal producer was fully covered on Friday.
India revises up 2013/14 GDP growth to 6.9 percent
Published on Friday, January 30, 2015 5:53 PM
NEW DELHI - India revised up its economic growth to 6.9 percent from 4.7 percent in the fiscal year to March 2014 on Friday after the government changed the formula to measure the economy, a move that will make it easier for the government to meet fiscal deficit goals. ...
The new measurement of gross domestic pr
Fiscal deficit overshoots full-year target in December
Published on Friday, January 30, 2015 4:45 PM
NEW DELHI - India's fiscal deficit overshot the full-year target in December as the gap swelled to 5.32 trillion rupees ($85.90 billion), or 100.2 percent of the target for the fiscal year ending in March, government data showed on Friday.
The deficit was 95.2 percent during the same period a year ago.