Douglas's Feed
Mar 16, 2015

India summit off as Italian marines case rankles

NEW DELHI (Reuters) – Plans for the European Union to host a summit with Indian Prime Minister Narendra Modi have collapsed amid acrimony over delays to the trial of two Italian marines for murder in the 2012 killing of two Indian fishermen.

A spokesman for the Ministry of External Affairs on Monday confirmed that no EU-India summit would take place during Modi’s trip to Europe next month, when he will visit Germany and France, but the official declined to comment further.

Mar 16, 2015

Global recovery fragile, India a bright spot: Lagarde

NEW DELHI (Reuters) – The global recovery is “too slow, too brittle and too lopsided”, the head of the International Monetary Fund said in India on Monday, describing Asia’s third-largest economy as a rare bright spot on a cloudy global horizon.

In a speech in New Delhi, IMF Managing Director Christine Lagarde said that monetary policy in the world’s leading economies was out of step and, even if well managed, could cause “excessive volatility” in international financial markets.

Feb 18, 2015

U.S. hasn’t exhausted toolkit on Russia sanctions -energy envoy

NEW DELHI, Feb 18 (Reuters) – The United States could
intensify sanctions against Russia if the Kremlin continues to
destabilize eastern Ukraine, a senior U.S. government official
said.

Washington and the European Union imposed sanctions
after Russia annexed Crimea last March and supported pro-Moscow
separatists in eastern Ukraine.

Feb 3, 2015

U.S.-India nuclear ‘breakthrough’ could be finalised within year

NEW DELHI/WASHINGTON (Reuters) – A “breakthrough understanding” to open India’s nuclear power sector to U.S. firms reached during President Barack Obama’s visit to New Delhi last month could be finalised this year, Indian officials say.

The Jan. 25 announcement by Obama and Indian Prime Minister Narendra Modi followed six weeks of intensive talks, but few details were released beyond a framework based on India’s acceptance of the principle that plant operators should bear primary liability in the event of a nuclear disaster.

Jan 26, 2015

India-U.S. nuke deal could help clear project logjam – Westinghouse CEO

NEW DELHI, Jan 26 (Reuters) – A civil nuclear pact struck at
summit talks between Indian Prime Minister Narendra Modi and
U.S. President Barack Obama could help clear a logjam of stalled
projects, the head of U.S. nuclear power plant maker
Westinghouse told Reuters on Monday.

Daniel Roderick, president and CEO of Toshiba-backed
Westinghouse Electric Co, said a commitment by India to
“channel” immediate costs arising from any nuclear accident to
the plant operator marked an important step forward.

Jan 25, 2015

India turns to corner shops, mobile phones for banking revolution

NEW DELHI/MUMBAI, Jan 26 (Reuters) – India is betting that
mobile phone vendors, fuel stations and corner stores can help
it put basic banking within the grasp of hundreds of millions of
its poor people living beyond the reach of traditional bank
branches.

The clock is ticking down to a Feb. 2 deadline for
applications to set up so-called payments banks under new rules
that would allow successful bidders to offer services such as
remittances and deposits, but not loans.

Jan 25, 2015

Rebels press Ukraine offensive, Obama promises steps against Russian-backed “aggression”

NEW DELHI/KIEV (Reuters) – Pro-Moscow rebels, backed by what NATO says is the open participation of Russian troops, pressed on with their offensive on Sunday after restarting the war in eastern Ukraine with the first all-out assault since a truce five months ago.

U.S. President Barack Obama said Washington was considering all options short of military action to isolate Russia. The European Union called an emergency meeting of foreign ministers of its 28 member states.

Jan 25, 2015

“We have a deal” – insurance may unlock India-U.S. atomic trade

NEW DELHI, Jan 25 (Reuters) – Prime Minister Narendra Modi
and U.S. President Barack Obama unveiled a plan centred on
insurance on Sunday that they hope will convince U.S. companies
to build nuclear power stations in India, but stopped short of
demands to soften a liability law.

With the 1984 Bhopal gas tragedy still fresh in India’s
mind, parliament five years ago passed a law that makes
equipment suppliers ultimately responsible for an accident, a
deviation from international norms that the companies found hard
to swallow.

Jan 25, 2015

Bear hug with Modi gets Obama’s India trip off to warm start

NEW DELHI (Reuters) – Signalling his determination to take relations with the United States to a higher level, Prime Minister Narendra Modi broke with protocol to meet and bear-hug U.S. President Barack Obama as he landed in New Delhi on Sunday.

Obama’s visit is a fresh bid to make India an enduring strategic partner and will nurture his friendship with a prime minister who a year ago was persona non grata in Washington.

Jan 22, 2015

India, US trying to get nuclear deal over line during Obama trip

NEW DELHI, Jan 22 (Reuters) – India and the United States
were trying to narrow differences on nuclear trade on Thursday
ahead of President Barack Obama’s visit, but New Delhi ruled out
a change in its liability law that has choked off U.S.
investment.

Nuclear commerce worth billions of dollars was meant to be
the centrepiece of a new strategic relationship between the
United States and India, allowing New Delhi access to nuclear
technology and fuel without giving up its weapons programme.