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India approves foreign investments worth $308 mln Reuters - Fri, Jul 4
NEW DELHI (Reuters) - India on Friday cleared 28 foreign direct investment proposals totalling 13.28 billion rupees ($308 million), including those of Marks & Spencer and a joint venture involving EID Parry (India) Ltd.
Rupee lifted by stocks; wary of oil, inflation Reuters - Fri, Jul 4
By Swati Bhat
MUMBAI (Reuters) - The rupee strengthened on Friday as a rise in local shares eased some immediate concerns of more capital outflows, but its gains were limited by high oil prices and further rise in annual inflation.
India direct tax receipts up 39 pct y/y in June qtr Reuters - Fri, Jul 4
NEW DELHI (Reuters) - India's direct tax receipts jumped 38.6 pct in the quarter to June from a year earlier to 573.73 billion rupees ($13.28 billion) riding on robust corporate payments, a finance ministry statement said on Friday.
India has no plans to ban cotton exports - official Reuters - Fri, Jul 4
MUMBAI (Reuters) - India has no plans to ban cotton exports but may cut the import duty to boost supplies and ease prices, which hit record highs in June, a senior official said on Friday.
Rel Comm rises up 12.5 pct on MTN deal clarity hopes Reuters - Fri, Jul 4
By Rina Chandran
MUMBAI (Reuters) - Shares in Reliance Communications surged 12.5 percent on Friday on expectations some clarity may soon emerge on its exclusive talks with South Africa's MTN Group that end next week.
Indian shares rise 2.8 pct, Reliance Comm rebounds Reuters - Fri, Jul 4
By Narayanan Somasundaram
MUMBAI (Reuters) - Indian shares climbed 2.8 percent on Friday as investors picked bargains in the battered market, after political worries appeared to be easing but the outlook was grim due to inflation and high oil prices.
Mkts shrug inflation, Sensex up 400 pts FE - Fri, Jul 4
Indian shares extended gains to more than 3 percent by afternoon on Friday, led by ICICI Bank and Larsen & Toubro.
Why oil prices hit a record high near $146 FE - Fri, Jul 4
US crude oil on Thursday hit an all-time high near $146 a barrel.
Prices have rallied from a dip below $50 at the start of 2007 and this year have risen by around 50 per cent from $95.98 a barrel at the end of last year.
July 'moment of truth' for Doha round - WTO's Lamy Reuters - Fri, Jul 4
By Laura MacInnis
GENEVA (Reuters) - July is "the moment of truth" for a long-sought global trade pact, the failure of which would erode economic growth, sour diplomatic ties and hurt poor countries, the World Trade Organisation head said on Friday.
RBI: need to calm nerves on inflation Reuters - Fri, Jul 4
MUMBAI (Reuters) - Volatile prices of food and commodity prices have pushed inflation higher and the most urgent priority for central bankers was to calm nerves on inflation, Reserve Bank of India (RBI) Governor Yaga Venugopal Reddy said in a speech.
Indian rupee rises as stocks gain, oil key Reuters - Fri, Jul 4
MUMBAI (Reuters) - The rupee rose on Friday, as gains in the local stock market renewed hopes of some capital inflows, but oil prices near record levels continued to put downward pressure on the local unit.
Chinese tourists arrive on historic direct flights to Taiwan in sign of warming relations AP - Fri, Jul 4
TAIPEI, Taiwan (AP) _ Hundreds of Chinese tourists flew into Taiwan Friday in the first wave of regular cross-straits commercial flights in nearly six decades that could transform ties between the old foes.
Japan's key stock index extends longest losing streak since 1954 on oil price worries AP - Fri, Jul 4
TOKYO (AP) _ Japan's key stock index extended its longest slide in more than a half-century, as record oil prices intensified concerns over the impact on corporate earnings and consumer demand.
Hong Kong's key stock index rises as Chinese bank issues positive outlook for first half AP - Fri, Jul 4
HONG KONG (AP) _ Hong Kong stocks advanced Friday, led partly by banks after China's biggest lender forecast a sharp rise in profits.
Kerala Tourism to target northern states PTI - Fri, Jul 4
Chandigarh, July 4 (PTI) Kerala Tourism today said it will now target northern states in a big way to increase the inflow of domestic tourists.
Indian shares provisionally end 2.4 pct higher Reuters - Fri, Jul 4
MUMBAI (Reuters) - Indian shares provisionally rose 2.37 percent on Friday, led by Reliance Communications and Larsen & Toubro.
Indian shares rise 3 pct, led by ICICI Bank Reuters - Fri, Jul 4
MUMBAI (Reuters) - Indian shares extended gains to more than 3 percent by afternoon on Friday, led by ICICI Bank and Larsen & Toubro.
G8 to tackle inflation, but concrete action elusive Reuters - Fri, Jul 4
By Yoko Nishikawa
TOKYO (Reuters) - G8 leaders aim to present a united front against global inflation, driven by soaring oil and food prices, at a summit in Japan next week, but solving the problem requires more than just a strong message from rich nations.
Fitch upgrades MTN's long-term credit ratings FE - Fri, Jul 4
Credit rating agency Fitch has upgraded its long-term ratings on South African Telcom major MTN Group, which is in exclusive talks with Anil Ambani Group firm Reliance Communications for a possible alliance.
India gold eases, yet more sellers in local mkt Reuters - Fri, Jul 4
MUMBAI (Reuters) - Indian gold prices eased slightly on Friday but stayed above the psychological mark of 13,000 rupees per 10 grams, drawing investors into selling bars, dealers said.