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Tonight, Narendra Modi will be sworn in as India’s new Prime Minister. And there is no shortage of advice on what he should do once he takes power. Today, India’s daily newspapers and the world’s financial press have been publishing articles telling the new man in charge just what he needs to do to help India reach its potential, and there are some common themes. As context, it’s worth noting what the stock market tells us about expectations: Mumbai’s benchmark Sensex index rose 15% ...
MUMBAI, India (AP) - India's steep new tax on gold imports doesn't deter Mousumi Rao as she holds up a glittering $5,000 filigree necklace that could adorn her daughter on her wedding day. See more here
The Australian dollar weakened against the other major currencies in the Asian session Friday and held steady thereafter, after the Reserve Bank of Australia said it would continue to keep its accommodative monetary policy some more time and as China's consumer price inflation slowed in April. In its monetary policy statement, the RBA reiterated its commitment to hold interest rate unchanged for the foreseeable future. The board's outlook on inflation suggests that ...