Business

Modi Urged to Make Reality Match ‘Make in India’ Hype

By Promit Mukherjee and Rafael Nam MUMBAI, Feb 14  – Thousands of people and mascots of lions swarmed the weekend opening of a “Make in India” drive to attract foreign direct investment, pitched by Prime Minister Narendra Modi as “the biggest brand that India has ever created”. The week-long event, the boldest since Modi launched

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Twitter Results Need to Wow to Reassure Investors

By Abhirup Roy and Supantha Mukherjee Feb 10  – When Twitter Inc reports results on Wednesday, a less than stellar showing could hammer the stock further as a broad selloff in the technology sector has made investors jittery. Twitter’s shares have lost more than two-thirds of their value in the past 12 months. Several tech

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As Big Oil Shrinks, Boards Plot Different Paths Out of Crisis

By Ron Bousso and Terry Wade LONDON/HOUSTON, Feb 7 – As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis. Crude prices have tumbled around 70 percent over the past 18 months to around $35 a

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Pakistan Shelves Plan to Privatize Power Firms, But Approves New Loan

By Mehreen Zahra-Malik ISLAMABAD, Feb 4 – Pakistan has shelved plans to privatize its power supply companies and will miss deadlines to sell other loss-making state firms, reneging on promises it made to the IMF in return for a $6.7 billion bailout three years ago. Two government officials with direct knowledge of the situation said

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Turkish Businesses See Opportunity, and Competition, As Iran Opens Up

By Can Sezer and Ceyda Caglayan ISTANBUL, Feb 3 – The lifting of sanctions against Iran may be a mixed blessing for Turkey, opening up access to a fast-growing, lucrative market, but one that could someday rival Ankara as both an investment destination and exporter. NATO-member Turkey remains the region’s economic powerhouse, with output of

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Dubai Airport 2015 Traffic Up 10.7 pct, World’s Busiest

By Nadia Saleem DUBAI, Feb 1 (Reuters) – Dubai International Airport remained the world’s busiest for international passengers in 2015 as traffic grew 10.7 percent, boosted by the addition of new airlines and routes, the airport’s operator said on Monday. Annual traffic rose to 78 million passengers from 70.5 million in 2014. In the month

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Oman Fund, Iran’s Khodro Sign MoU for Auto Venture

By Fatma Alarimi MUSCAT, Jan 27 – An Omani sovereign wealth fund has signed an understanding with Iran’s biggest auto maker, Iran Khodro Industrial Group, to study a proposal for a $200 million auto plant in Oman, a fund official said on Wednesday. The memorandum of understanding is one of the first signed between a

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Thais Turn to “Child Angel” Dolls as Economy Struggles

By Patpicha Tanakasempipat and Juarawee Kittisilpa BANGKOK, Jan 27 – A craze for lifelike dolls thought to bring good luck is sweeping Thailand, reflecting widespread anxiety as the economy struggles and political uncertainty persists nearly two years after a coup. Thailand is predominantly Buddhist and has been modernizing rapidly over the past two or three

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Economic Growth Crucial to Defeating Terrorism – Iran’s President

ROME, Jan 26 – Iran wants to become a major exporting nation following the lifting of international sanctions, Iranian President Hassan Rouhani said on Tuesday, adding that economic growth was crucial to defeating extremism in the Middle East. Rouhani is on a four-day visit to Italy and France, where he is looking to rebuild Iran’s

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The Economic Foundations for Privatizing Aramco

By Omar Al Ubaydli WEB EXCLUSIVE — Saudi Deputy Crown Prince Amir Muhammad bin Salman Al Saud recently proposed the privatization of the national oil company, Aramco. Many analysts’ initial reaction was that Saudi Arabia must be in dire straits if it is even considering—let alone actually implementing—such a policy. However, Prince Muhammad did actually

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