Shares in India’s JM Financial soar on Pandit stake buy
MUMBAI – Shares in India’s JM Financial Ltd jumped nearly 17 percent Friday after the group said former Citigroup chief executive Vikram Pandit was buying a stake in the financial services company.
After reaching the day’s [...]
Bangladesh economic growth slows to four-year low
DHAKA – Troubled Bangladesh’s economy is forecast to have grown at a four-year low of 6.03 percent in the fiscal year to June, more than a percentage point below the government target, officials said on Friday.
Analysts have said [...]
Air India’s Dreamliner takes to the skies again
NEW DELHI – State-run Air India on Wednesday resumed flights of its Dreamliner jets four months after global regulators grounded the Boeing planes following technical glitches in the passenger aircraft.
All 50 Dreamliners operating [...]
India plans inflation-linked bonds to end gold love affair
NEW DELHI – India’s central bank announced Wednesday it would launch inflation-linked bonds to try to break the country’s love affair with gold and narrow the ballooning current account deficit.
The Reserve Bank of India said [...]
Walmart to inspect all Bangladesh factories
WASHINGTON – Giant retailer Walmart announced Tuesday that it would conduct in-depth safety inspections of all 279 of its Bangladesh suppliers, in the wake of the building collapse that killed more than 1,100 people.
The US retailer said [...]
Indian inflation cools to below 5% for first time since 2009
NEW DELHI – India’s inflation cooled last month to a surprise 41-month low, official data showed Tuesday, giving the central bank more room to cut interest rates to battle the worst economic slowdown in a decade.
The Wholesale [...]
US fines Indian drug giant Ranbaxy $500 mn
WASHINGTON- US authorities announced Monday a $500 million dollar fine against Indian generic pharmaceutical manufacturer Ranbaxy after it pleaded guilty to selling adulterated drugs in the United States.
Ranbaxy USA, the US subsidiary of Ranbaxy [...]
India’s Tata Steel takes $1.6-bln writedown over Europe
NEW DELHI – India’s Tata Steel, one of the world’s biggest steelmakers, announced a $1.6-billion asset writedown Monday, blaming slumping demand in its main European market.
The company, which had sales of $26 billion in [...]
India’s central bank puts a curb on gold imports
MUMBAI – India’s central bank on Monday announced steps to restrict the import of gold by banks in a move to stem the country’s widening current account deficit.
“To moderate the demand for gold for domestic use, it [...]
Karachi stocks hit all-time high on Sharif win
KARACHI - Karachi stocks hit an all-time high Monday following Nawaz Sharif’s strong victory in landmark elections, which raised hopes the steel tycoon’s pro-business agenda could spark an economic revival.
The benchmark index [...]
