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  • Sensex slumps to four-month low on algorithmic trading-related selloff
    Sensex slumps to four-month low on algorithmic trading-related selloff

    The BSE Sensex and Nifty fell more than 2 percent on Wednesday to their lowest in four months, on strong selling on algorithmic trading platforms, while continued offloading by foreign investors amid retrospective tax worries also weighed. Dealers said the sell-off was initially sparked by a slump in Nifty futures listed on the Singapore exchange, which are now trading at a discount to domestic Nifty futures. Algorithmic trading accounts for a third of the total volume on Indian cash shares …

  • Greenpeace faces shutdown after India freezes funds in charity crackdown
    Greenpeace faces shutdown after India freezes funds in charity crackdown

    By Nita Bhalla NEW DELHI (Thomson Reuters Foundation) - Greenpeace India is facing imminent closure after authorities froze its bank accounts leaving it with little funds, the environmental group's head said late on Tuesday, accusing Prime Minister Narendra Modi's government of "strangulation by stealth". India's home ministry last month blocked foreign funding to the local branch of Greenpeace and suspended its registration for six months. Officials said the charity was misreporting funds …

  • India to sign port deal with Iran, ignoring U.S. warning against haste
    India to sign port deal with Iran, ignoring U.S. warning against haste

    By Nidhi Verma and Manoj Kumar NEW DELHI (Reuters) - India will push ahead this week with plans to build a port in southeast Iran, two sources said, with Prime Minister Narendra Modi keen to develop trade ties with Central Asia and prepared to fend off U.S. pressure not to rush into any deals with Iran. India and Iran agreed in 2003 to develop a port at Chabahar on the Gulf of Oman, near Iran's border with Pakistan, but the venture has made little progress due to Western sanctions on Iran. …

  • Millions of farmers keep faith in sugar cane, shrug off poor returns
    Millions of farmers keep faith in sugar cane, shrug off poor returns

    By Rajendra Jadhav AHMEDNAGAR, India (Reuters) - It is a Catch-22 for Nandkumar Patil, one of the millions of sugar cane farmers in India. With farmers like Patil staying put on cane fields, India is seen producing excess sugar in 2015/16. A sixth annual surplus, the longest such stretch ever, will allow the world's No.2 sugar producer after Brazil to remain a net exporter, denting global prices that hit six-year lows in March on ample supplies.     In the past, lower prices have prompted …

  • French fighter jets find takers in a worried world
    French fighter jets find takers in a worried world

    By John Irish RIYADH (Reuters) - After failing for years to win a single order for the Dassault-built Rafale fighter jet, France has scored a string of multi-billion-euro wins in recent weeks and is on a quest for more. Global appetite for the jets has surged as a result of the United States' diminishing influence in the Arab world along with wider security concerns over the rise of Islamic State insurgents - which Paris is more than happy to assuage. Egypt, India and Qatar have all just …

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