India's Economy News
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India and China sought to draw a line under a military standoff along part of their disputed border, agreeing to accelerate talks on a settlement and boost trade that they said would help drive the world economy.
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The Reserve Bank of India said the space for monetary policy to support economic growth remains constrained by elevated consumer-price inflation and a record current-account deficit.
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In 1888, when Queen Victoria ruled India, the company that would become Unilever decided the country was the future. More than a century on, it’s staking $5.4 billion that it still is.
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Indian stock-index futures gained, signaling benchmark indexes may rise for a fourth day, before the Reserve Bank of India meets today to review monetary policy.
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India’s ruling Congress party aims to oust its chief rival in weekend elections in southern Karnataka state, a victory that may bolster the government as it bids to revive the economy ahead of a national poll.
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Unilever will spend as much as 292.2 billion rupees ($5.4 billion) lifting a majority stake in its Indian unit as the seller of Lipton tea and Dove shampoo seeks to capture more emerging-market profit and combat slower European growth with its biggest deal in 13 years.
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Unilever Plc’s offer to pay 600 rupees a share to raise its stake in Hindustan Unilever Ltd. isn’t high enough to spur an “obvious” sell decision for existing stockholders, said Aberdeen Asset Management Plc.
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Overseas funds bought the most Indian equities in five weeks on speculation slowing wholesale- price inflation and falling commodity prices will spur the central bank to cut interest rates next week.
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The corpse of Indian farmer Bengali Singh burned to ash atop a blazing funeral pyre on the banks of the river Ganges in 2006.
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Indian stock-index futures dropped as overseas investors sold the nation’s shares amid concerns economic growth is weakening.
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