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  • Mukesh Ambani passes Li Ka-shing as Asia's second richest man

    MUMBAI -- Mukesh Ambani, the chairman and main shareholder of Indian conglomerate Reliance Industries, has overtaken Hong Kong's Li Ka-shing as Asia's second richest man in the Bloomberg Billionaires Index, riding investor confidence in Reliance Jio

    August 2, 2017 12:09 am JST
  • GST touches off India's deepest factory slowdown since 2009

    NEW DELHI -- Indian manufacturing activity slowed sharply in July, as the introduction of a much-heralded goods and services tax threw companies and consumers off balance.The Nikkei India Manufacturing Purchasing Managers' Index, which came out on T

    August 1, 2017 11:14 pm JST
  • Rate cut hopes drive Indian stocks to new heights

    SINGAPORE -- Market players see improving odds that the Reserve Bank of India will cut interest rates sometime this year, and they are doubling down on stocks accordingly.The Indian market is red hot, with the benchmark S&P BSE Sensex index setting

    August 1, 2017 09:46 pm JST
  • India stocks hit record highs as carmakers jump on upbeat sales

    MUMBAI (NewsRise) -- Indian stocks rose to a record on Tuesday as Maruti Suzuki India led advances among automakers following gains in July vehicle sales.The BSE Sensex rose 0.2%, or 60.23 points, to 32,575.17, while the broader NSE index added 0.4%

    August 1, 2017 09:16 pm JST
  • Maruti Suzuki sales jump in July as India GST lowers prices

    MUMBAI (NewsRise) -- Maruti Suzuki India reported a better-than-expected jump in domestic sales in July as the nation's largest carmaker dispatched more vehicles to dealerships to meet demand during the upcoming festival season.Domestic sales of Mar

    August 1, 2017 09:01 pm JST
  • Nikkei Asia300 index advances as energy producers, insurers gain

    HONG KONG (Nikkei Markets) -- Asian stocks outside of Japan rose Tuesday, as gains in crude oil prices prompted an advance in energy stocks and as earnings optimism boosted Chinese insurers. The Nikkei Asia300 Index advanced 0.4% to 1,297.71. H-shar

    August 1, 2017 08:21 pm JST
  • Boeing shares climb on hopes for strong Indian demand

    NEW YORK -- Shares of U.S. aerospace company Boeing rose again Monday, posting a seventh straight day of gains. They hit $246.49 at one point, up 2.2% from Friday, reaching a new all-time high.Media reports say Boeing has predicted aircraft orders f

    August 1, 2017 03:57 pm JST
  • India manufacturing PMI slows to 47.9 in July

    TOKYO -- The Nikkei India Manufacturing Purchasing Managers' Index, or PMI, dropped to a near eight-and-a-half year low of 47.9 in July from 50.9 in June.A reading above 50 indicates economic expansion, while one below 50 points toward contraction."

    August 1, 2017 02:00 pm JST
  • Indonesia manufacturing PMI falls to 48.6 in July

    TOKYO -- The Nikkei Indonesia Manufacturing Purchasing Managers' Index, or PMI, fell to a one-year low of 48.6 in July from 49.5 in June.A reading above 50 indicates economic expansion, while one below 50 points toward contraction. Latest figure mar

    August 1, 2017 09:30 am JST
  • Nikkei Asia300 index gains as Chinese stocks rally on earnings optimism

    HONG KONG (Nikkei Markets) -- Asian stocks outside of Japan edged higher on Monday, led by a rally in Chinese companies as investors bet on their earnings.The Nikkei Asia300 Index advanced 0.3% to 1,292.05. Suning Commerce Group jumped 10% in Shenzh

    July 31, 2017 10:15 pm JST
  • India stocks advance as State Bank jumps on new deposit rates

    MUMBAI (NewsRise) -- Indian shares rose Monday as the nation's largest lender State Bank of India jumped after revising one of its key deposit rates. Expectations of an interest rate cut by the Monetary Policy Committee later this week also buoyed i

    July 31, 2017 09:50 pm JST
  • Fiat India goes for aggressive pricing of Jeep to revive fortune

    NEW DELHI (NewsRise) -- Fiat Chrysler Automobiles' Jeep brand on Monday announced competitive prices for its Compass sport-utility vehicle in India, as the automaker seeks to revive its fortunes in one of the world's fastest-growing markets where it

    July 31, 2017 09:27 pm JST
  • Snapdeal calls off $900m takeover by Flipkart

    MUMBAI -- Snapdeal has nixed a $900 million-plus takeover by bigger e-commerce rival Flipkart, less than a week after its board accepted the bid.The arrangement between the two Indian companies would have given Flipkart ammunition for fighting Amazo

    July 31, 2017 09:26 pm JST
  • Indian new tax erodes Godrej profit as retailers cut stocks

    MUMBAI (NewsRise) -- Godrej Consumer Products, controlled by billionaire Adi Godrej, reported a surprise 8.9% decline in first-quarter profit, after retailers cut down stocks of Cinthol soaps and Good knight mosquito repellents ahead of a major tax

    July 31, 2017 07:57 pm JST
  • First month of India's GST proves taxing

    NEW DELHI -- Indian Prime Minister Narendra Modi has described the country's new goods and services tax as a "good and simple tax" that will help correct economic imbalances and boost foreign investment. But for shopkeepers like Tarun Bhateja, who r

    July 31, 2017 04:05 pm JST
  • India's rubber growers test government's will on tariffs

    BANGALORE, India -- Faced with falling prices and rising imports, Indian rubber farmers and traders are blaming the federal government for their troubles.From a high of 208 rupees ($3.24) per kilogram in 2011 prices for the benchmark RSS-4 (ribbed s

    July 30, 2017 10:00 pm JST
  • 'Not In My Name' -- Indians stand up to vigilante lynchings

    NEW DELHI -- Indian Prime Minister Narendra Modi has built much of his power base on the back of support from various Hindu nationalist groups. But he now faces a growing backlash from citizens of all faiths against hate crimes committed by vigilant

    July 29, 2017 05:26 pm JST
  • Multinationals in Asia

    Unilever sees growth in bottom and top of Asian economic pyramid

    TOKYO/YANGON/MUMBAI -- At a small shop tucked into a residential neighborhood of Yangon, one peculiar set of items has emerged as a hit seller among the snacks and household staples on offer: single-use pouches of Unilever shampoo, which dangle from

    July 29, 2017 02:30 pm JST
  • Indian bitcoin startups thrive as New Delhi ponders rules

    BANGALORE -- In the first week of June an as-yet unknown cause triggered a 640% surge in daily activity at CoinSecure, an Indian bitcoin exchange, which continued for about two weeks."Our servers just could not take the pressure of that kind of a tr

    July 29, 2017 01:00 pm JST
  • India shares log fourth straight weekly gain on earnings boost, Fed

    MUMBAI (NewsRise) -- Indian shares fell Friday, but both the key indices clinched their fourth consecutive weekly advance after upbeat quarterly earnings from most companies buoyed investors. Bets that the U.S. Federal Reserve would go slow on futur

    July 28, 2017 10:23 pm JST