NEW DELHI (Reuters) - There is no case for downgrading India's sovereign credit rating, Economic Affairs Secretary Arvind Mayaram told the news channel ET Now on Monday, after Standard & Poor's reiterated its negative outlook on the country's credit rating. The rating agency last week warned that India needed to follow through on implementing a slew of pending economic reforms, a warning that dealt a blow to a government that had recently pitched for an upgrade. ...
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- Indian cinema on a mission at Cannes to dispel Bollywood image Reuters
Indian movie actors and a new wave of directors are on a mission at the Cannes film festival - to show that their industry, which turns 100 this year, is more than More »
- Protests by Aam Admi Party in Delhi over inflated electricity bills ANI
Supporters of Aam Aadmi Party (AAP), protested against inflated electricity and water bills in New Delhi on Sunday and submitted complaint letters to the Congress More »
- Sarabjit death probe: Pakistani official may visit India IANS
A one-man inquiry tribunal comprising Justice Syed Mazahar Ali Akbar Naqvi of Lahore High Court may visit India to complete the judicial inquiry into the death of More »
- UP: 42 cops booked for alleged murder of terror suspect Ani
42 Uttar Pradesh policemen, including some top officers, were booked on Sunday for the alleged murder of Khalid Mujahid, an accused in the serial blasts in the More »
- Rahul Gandhi criticises opposition for 'stalling' Food Bill ANI
Congress Vice President Rahul has criticised the opposition parties for stalling the Food Security Bill in Parliament, and asserted the UPA government was More »
- Saudi woman creates history by reaching Mount Everest summit ANI
A Saudi woman has become the first female from the country and the youngest Arab to reach the summit of Mount Everest - the world's highest mountain. More »
- Government debt quota sale to foreign investors watched Reuters
Reuters Market Eye -India will sell 55.33 billion rupees worth of government debt limits to overseas investors later on Monday, the first after the country cut the debt withholding tax for foreign investors last month. These quotas give foreign investors the right to invest in debt up to the limit bought. India cut tax rates for foreign investors on interest income from investments in government and corporate debt to 5 percent from 20 percent, hoping to attract more funding to bridge its current account deficit and polish its reformist credentials. ...
- Lupin falls; Mylan launches cholesterol drug Reuters
Reuters Market Eye - Shares in Lupin Ltd slump 4 percent after earlier falling as much as 4.7 percent following the launch of rival Mylan Inc's generic version of the cholesterol-lowering Tricor tablets. Mylan Inc said in a statement on Friday its unit Mylan Pharmaceuticals Inc has shipped generic Tricor, or fenofibrate tablets, of 48 mg and 145 mg. Mylan compete against Lupin, which also sells generic versions of Tricor. "Mylan's launch of Tricor will result in higher competition and decline in Lupin's market share in a drug which has a market size of $1. ...
- Sensex gains; foreign investors continue to buy Reuters
Reuters Market Eye - The BSE Sensex gains 0.71 percent while the broader Nifty advances 0.63 percent, after earlier marking their new 2-1/2-year intraday highs, as foreign portfolio investors extend their record buying spree. Foreign investors have been net buyers for 22 consecutive sessions as of Friday, bringing in a net of about $13.52 billion in 2013, regulatory and exchange data shows. Asian stock markets edge higher after U.S. equities hit record closing highs on Friday as encouraging economic data prompted investors to buy into growth companies. ITC Ltd gains 1. ...
- NZ media muted in critique of first test loss Reuters
WELLINGTON (Reuters) - New Zealand's media were muted in their reaction to their side being bundled out for just 68 runs to give England a 170-run victory in the first test at Lord's on Sunday, instead turning their focus towards the second match in Leeds. Their second innings score, sparked by Stuart Broad's career-best figures of seven for 44, was New Zealand's ninth-lowest in their 83-year test history. Unlike the furore that enveloped the team when they were bundled out for 45 by South Africa in January, however, the outcry on Monday was more restrained. ...
- Gold falls for eighth session, silver down sharply Reuters
By A. Ananthalakshmi SINGAPORE (Reuters) - Gold fell for an eighth straight session on Monday to its weakest level in over a month, as fears that the U.S. Federal Reserve may wind back its economic stimulus programme hurt the metal's appeal as a hedge against inflation. Investors have been dumping gold, which is down 20 percent so far this year, as stocks and the dollar continue to outperform. If gold closes in the red on Monday, it would match the metal's longest losing streak since March 2009. ...
- Infosys to challenge new tax demand of $105.3 million Reuters
BANGALORE (Reuters) - Infosys Ltd, India's No. 2 software services exporter, said on Monday it would challenge a 5.77 billion rupees income tax demand raised by Indian authorities earlier this month. The demand relates to certain tax benefits on income from software development done overseas at the clients' location and revenue from special economic zones in India, Infosys said in a statement. It said the latest tax demand disregards a clarification by the government in January. ...
- India gripes over border, trade woes on Li's trip Reuters
By Frank Jack Daniel NEW DELHI (Reuters) - Prime Minister Manmohan Singh told visiting Chinese Premier Li Keqiang on Sunday a recent military standoff in the Himalayas could affect relations between the two countries as they looked to boost bilateral trade. At a meeting shortly after Li arrived in India on his first foreign trip, Singh said relations were affected when "peace and tranquillity" on the border was impacted, a senior government official with knowledge of the discussions told Reuters. ...
- Rupee down despite share gains Reuters
Reuters Market Eye - The rupee trading close to 55 levels despite gains in the domestic sharemarket. The rupee is trading at 54.99/55.00 versus its close of 54.88/89. The rupee fell to as low as 55.07 in opening trade, its lowest since March 4. Domestic shares trading up 0.8 percent tracking firm Asian indices. Traders say good dollar buying is likely at 54.95 levels while 55.15 is expected to cap the upside. "If 55.15 is broken convincingly, we could see it move upto 55.40-50 levels but until then it is safe to play the 54.50 to 55.15 range," said a senior dealer with a foreign bank. ...
- Imran Khan's party wins revote in Karachi, protests expected Reuters
ISLAMABAD (Reuters) - Cricket hero Imran Khan's Pakistan Tehrik-i-Insaf party won a revote in an upmarket constituency of Karachi on Sunday, unofficial results showed, a day after gunmen killed a party leader, setting the stage for protests and counter-protests. Khan blamed the killing of Zara Shahid Hussain on the Muttahida Quami Movement (MQM) party, which has a stranglehold on the city. Furious MQM leaders denied responsibility, condemned the killing and demanded a retraction from Khan. ...
- Little sign Abe can shake up Japan's inbound FDI Reuters
By Stanley White TOKYO (Reuters) - Japan risks missing, yet again, an opportunity to use foreign investment to help fuel sustained economic growth that has eluded it for the last two decades. Prime Minister Shinzo Abe pledged to make Japan "the world's easiest country for companies to do business in" as part of his economic revival plan, which so far has been largely met with approval. The stock market has rallied 45 percent this year and Abe's approval ratings are around 70 percent. ...
- Asian shares rise; Yen edges up from lows Reuters
By Masayuki Kitano SINGAPORE (Reuters) - The yen edged higher on Monday after Japan's economics minister said further weakness in the yen could harm households, while Asian shares rose in response to U.S. equities rallying on upbeat economic data. The dollar fell to as low as 102.00 yen earlier on Monday, pulling away from Friday's high of 103.32 yen, the greenback's highest level versus the yen since October 2008. The dollar later pared some of its losses, and last stood at 102.69 yen, down 0.5 percent on the day. ...
- Despite curbs, China's vast hot money triangle flourishes Reuters
By James Pomfret and Matthew Miller ZHUHAI, China/HONG KONG (Reuters) - In an underground mall just a stone's throw from China's teeming border with Macau, a row of 30 small shops with identical golden plaques does a brisk, though shadowy trade with mainland Chinese visitors, many of them bound for the gambling hub. "Good rates. Better than the banks," shout salespeople jostling to usher clients into shops where thick wads of Chinese 100 yuan and HK$1,000 bank notes change hands and shuffle noisily through electronic cash-counting machines. ...
- Justin Bieber, Taylor Swift big winners at Billboard Awards Reuters
(Reuters) - Pop stars Justin Bieber and Taylor Swift won the big prizes on Sunday at the Billboard Music Awards, which also honored legendary performers Madonna and Prince. Bieber, who was named top male artist, also performed at the show at the MGM Grand Garden Arena in Las Vegas. He also took home Billboard's first Milestone Award, chosen by fans, for musical innovation and ingenuity. "I'm 19 years old. I think I'm doing a pretty good job, Bieber said. "It should really be about the music. This is not a gimmick. I'm an artist and I should be taken seriously. ...
- United's Ferguson bows out on a high of sorts Reuters
By Sonia Oxley (Reuters) - Alex Ferguson bowed out of management on Sunday with a smile, a wave and a bucketful of goals in his 1,500th Manchester United game but without the victory he had so wanted. The 71-year-old Scot entered retirement having watched his Premier League champions draw 5-5 at West Bromwich Albion on the final day of the season having led 5-2 with 11 minutes to go. Before the game he had spoken of his desire to go out on a high after more than 26 years in the job but he was not really referring to the type of score. ...
- Nestle invests $130 mn in Mexico plant IANS
Mexico City, May 20 (IANS/EFE) Mexican President Enrique Peña Nieto inaugurated a 1.6-billion-peso ($130-million) expansion of a Nestle instant coffee factory in the central city of Toluca.
- Ensemble of rappers for 'Vanakkam Chennai' IANS
Chennai, May 20 (IANS) After roping in Britain-based R&B singer Arjun Coomaraswamy for the upcoming Tamil comedy "Vanakkam Chennai", Tamil composer Anirudh Ravichander has now included British-Indian rapper Hard Kaur and Chennai-based rapper Aadhi of 'Hiphop Tamizha' in the album.
- Roberto Carlos to coach Turkish Sivasspor club IANS
Ankara, May 20 (IANS) Former World Cup winner and Real Madrid star Roberto Carlos has agreed to coach Turkish Super League's Sivasspor club.
- Yahoo to buy Tumblr in $1.1 bn deal? IANS
Washington, May 20 (IANS) The board of web pioneer Yahoo has reportedly approved a deal to buy popular blogging site Tumblr for $1.1 billion in cash, according to various media reports.
- Badminton becomes a victim of China's bird flu outbreak IANS
Beijing, May 20 (IANS/EFE) Badminton has become an indirect victim of bird flu that has been affecting the country, given that the extensive slaughtering of infected ducks has created a shortage of feathers, an essential raw material for the birdies used in the sport, media reports said.
- 'Call box' business is booming in Cameroon IANS
Yaounde (Cameroon), May 20 (IANS) There's no official figure to determine its role in the Cameroonian economy but there is evidence that the "call box" business is a booming informal business in the country's mobile telephone sector.
- Yemeni president commends ties with UAE IANS
Sana'a, May 20 (IANS/WAM) Yemeni President Abd Rabbuh Mansur Hadi has praised his country's relations with the United Arab Emirates (UAE).
- Tornadoes tear through central US IANS
Washington, May 20 (IANS) Tornadoes tore through three central American states of Kansas, Oklahoma and Iowa with baseball-sized hail and wind blasts ripping roofs off homes and turning trees to matchsticks, as severe weather swept the region.
- 'Two Andhra ministers charged in Jagan case quit' IANS
Hyderabad, May 20 (IANS) Two cabinet ministers in Andhra Pradesh charged in the Y.S. Jaganmohan Reddy's disproportionate assets case have submitted their resignations to Chief Minister N. Kiran Kumar Reddy, sources said Monday.
- Styles car outside my house: Rod Stewart IANS
London, May 20 (IANS) Singer Rod Stewart accepts that he saw band One Direction member Harry Styles' car parked outside his house one morning, but didn't confirm that the teen sensation is dating his daughter Kimberly.
- UAE, Algeria discuss relations IANS
Abu Dhabi, May 20 (IANS/WAM ) The United Arab Emirates (UAE) and Algeria have held talks to explore new ways of enhancing bilateral cooperation in areas like industry, investment and small and medium enterprises (SMEs).
- Johansson's directorial debut ready for shoot IANS
Los Angeles, May 20 (IANS) Actress Scarlett Johansson's directorial debut will go on the floors this years, after being delayed for almost two years.
- EU urges Russia against introducing gay law IANS
Brussels, May 20 (IANS/RIA Novosti) The European Union (EU) has appealed to Russia not to introduce a law banning so-called "gay propaganda" .
- Beyonce Knowles idolised Whitney Houston IANS
Los Anegles, May 20 (IANS) Singer Beyonce Knowles says she always wanted to be rich and famous like late singer Whitney Houston.
- Conference on Syria very soon: UN chief IANS
Moscow, May 20 (IANS/RIA Novosti) The UN Secretary General Ban Ki-moon has said that a conference on the Syrian settlement will take place "very soon", possibly at the beginning of June, after consulting UN Security Council permanent members.
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