india

China, India Report Manufacturing Growth

Manufacturing output jumped in China and India in October, breaking with the rest of Asia. China%u2019s official Purchasing Managers Index gained to 54.7 in October, from 53.8 a month earlier, The Wall Street Journal said. A reading above 50 signals expansion and a reading under 50 means output contracted.

Wal-Mart CEO 'Optimistic' About India Investment Rules

Wal-Mart Stores (WMT) CEO Michael Duke said he is "optimistic" that foreign companies will be allowed to invest in the Indian retail sector. Wal-Mart is hoping that India%u2019s government will loosen restrictions on foreign investment after the trade ministry invited views from the industry, Bloomberg News said.

Can the Global Economy Thrive Without the U.S.?

Three years ago, the financial crisis that hit America spread across the globe, dragging the world into its deepest recession in seven decades. Now, the U.S. recovery is losing momentum, but economists say this time, when America sneezes, the world doesn't have to catch a cold.

Wal-Mart's hiring, but not in the U.S.

Wal-Mart plans to increase the number of employees by as much as 36% in the next five years, but U.S. workers may be out of luck as the increase will...

Wal-Mart to Increase Workforce by 36% in Five Years

Wal-Mart Stores Inc (WMT) will increase its workforce by 36% in the next five years to take advantage of growing international demand. The new hires will take the company%u2019s headcount to 3 million, from 2.2 million now, Susan Chambers, executive vice president for human resources, said at a conference in India.

Indian Conglomerate in Talks to Buy MGM

Indian conglomerate Sahara India Pariwar is in talks to buy U.S. movie studio Metro-Goldwyn-Mayer Inc in a deal worth more than $2 billion, The Wall Street Journal reported. MGM owes creditors about $4 billion, mostly to hedge funds that purchases the studio%u2019s bank obligations at a discount. The creditors are preparing to take over the studio in a streamlined bankruptcy. They plan to turn management over to Gary Barber and Roger Birnbaum, co-heads of Spyglass Entertainment.

Why the Financial Crisis Spells the End of Western Power

In a new article, political scientist Ian Bremmer and respected economist Nouriel Roubini assert that the free-market system of capitalism has been so damaged by the recent financial crisis that the West's era of political and economic dominance may be gone for good.

Japan Gets a Boost From Exports

Mired in deflation and stagnant for decades, Japan has been the economic basket case of the developed world, a cautionary example of malaise run amuck. But because it's export-oriented, the world's third-largest economy is getting an unexpected lift from roaring growth

Court Rules Vodafone Must Pay $2.6 Billion in Taxes in India

British mobile phone operator Vodafone (VOD) was ordered by an Indian court to pay $2.6 billion of tax on a 2007 transaction that gave it a major presence in the country%u2019s mobile phone market. The court ruled that Vodafone was liable for Indian taxes on the deal, which involved Vodafone buying a majority stake in Cayman Islands-based CGP Investments, which held telecommunications assets in India, BBC News reported. The deal was worth $11.1 billion.

India Will Ask Skype and Google for Access to Internet Data

India will ask search-engine company Google (GOOG) and Internet phone service Skype to set up servers in the country and give authorities there access to Internet data, Reuters reported. India is seeking to crack down on Internet security, threatening to ban the use of BlackBerry smartphones if Research In Motion (RIMM) did not allow the government to monitor messages.

India's Economy Grows Most Since 2007

India%u2019s economy grew at the fastest rate in two and a half years in the second quarter, driven by rising wages and consumer spending. Gross domestic product increased at an annual pace of 8.8 % in the three months through June, Bloomberg News reported. In the first quarter, the economy grew by 8.6%.

Indian Authorities to Meet to Discuss BlackBerry Messenger Ban

Indian officials will meet today to discuss whether to ban BlackBerry instant messenger service. India%u2019s home ministry and intelligence agencies are to meet Monday to discuss the RIM proposals, Bloomberg News said without naming its sources. Research In Motion (RIMM) said Aug. 26 that any solution would have to ensure security for communications

Ford Expects Asia to Drive Growth in Next Decade

Ford Motor Co. (F) announced plans for eight new vehicles targeted at the Indian market and a $350 million investment in Thailand as the company targets fast-growing Asian auto markets. Ford expects Asia to account for 70% of global growth in the next decade, The Associated Press reported.

Research In Motion May Provide India E-Mail Solution This Week

Research In Motion (RIMM) may come up with a solution this week to allow Indian security authorities access to e-mails on the company%u2019s BlackBerry device, Reuters reported. RIM has until Aug. 31 to give security agencies the ability to track and read BlackBerry Enterprise e-mail and BlackBerry Messenger services.

India Takes Aim at Google, Skype and the BlackBerry

Earlier this week, smartphone maker Research In Motion agreed to provide Saudi officials with keys that would enable them to track user messages sent via BlackBerry. Now India wants in. The Indian government has said it might block BlackBerry use unless it, too, can monitor messaging. It has also threatened to curtail the activities of Skype and Google.

India Meeting on BlackBerry Security 'Inconclusive'

A meeting of Indian government officials and telecoms operators to discuss restricting the use of BlackBerry services was "inconclusive", Reuters reported without naming its sources. The group met today to discuss how authorities could access data transmitted on the smartphone, which is made by Canada%u2019s Research In Motion (RIMM). Like several countries in the Middle East and North Africa, India is concerned that the encrypted service could pose a security threat.

India May Temporarily Suspend BlackBerry Services

BlackBerry services in India may be temporarily suspended if a meeting on Thursday does not address security concerns, Reuters reported. Like several countries in the Middle East and North Africa, India is asking for access to encrypted communication used by BlackBerry maker Research In Motion (RIM).

Tata Motors Posts a Profit, Shares Rise

Tata Motors (TTM) posted quarterly earnings of 19.9 billion rupees ($430 million) in the second quarter, after a loss of 3.3 billion rupees in the year-ago quarter. Consolidated net revenues jumped 64.2% from a year earlier to 271 billion rupees, the company said in a statement.

Car Sales in India Hit Record High in July

Monthly car sales in India jumped 38% year-on-year in July, hitting a record high of 158,764. Cheap credit, low penetration and strong demand for small cars drove the sales, The Wall Street Journal reported. Only 12 out of every 1,000 Indians owns a car or utility vehicle, and the figure is much lower in the countryside.

ETFs at Midyear: Investments Keep Pouring In

The first half of 2010 has been anything but dull for exchange-traded fund investors. ETF assets in the U.S. decreased 0.4% to $772 billion as of June 30, but that actually indicates a serious inflow of cash: Equity markets, as measured by the S&P 500, fell 8.9% during the period.

India Develops $35 'Laptop'

India's Ministry of Human Resource Development says it has developed a $35 computing device and is in the process of finding manufacturers for it....

World Oil Demand Expected to Rise 1.6% in 2011

World oil demand will rise 1.6% in 2011, driven by economic growth in developing countries, the International Energy Agency said. In its first detailed assessment of the 2011 period, the Paris-based agency forecast oil demand rising to 87.8 million barrels a day, the Associated Press reported. Demand from emerging economies such as China and India will climb 3.8% from 2010.

Peugeot May Build Factory in India to Tap Growing Demand

PSA Peugeot Citroen (PEUGY), France%u2019s biggest carmaker, may build a factory in India to tap growing demand for cars in the country, Bloomberg News reported. The company may spend around 700 million euros ($881 million) on the factory in the southern state of Andhra Pradesh, Bloomberg News said without naming its sources. The factory would have the capacity to produce 100,000 cars a year.

Government Investigating HSBC Clients for Tax Evasion

The Justice Department is investigating HSBC (HBC) clients who may have failed to disclose information about accounts held in India and Singapore, Bloomberg News reported, without naming its sources. At least one client received a letter from the Justice Department saying the department had reason to believe they held accounts overseas without reporting them to the IRS. The letter did not mention HSBC.