India Money, Political and General News Correspondent, New Delhi
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Jan 27, 2011

India’s ICVL will not counter Rio’s bid for Riversdale

NEW DELHI/MUMBAI, Jan 27 (Reuters) – An Indian state
consortium has decided not to counter Rio Tinto’s $3.9 billion
bid for Australian miner Riversdale (RIV.AX: Quote, Profile, Research, Stock Buzz), likely ending the
possibility of a bidding war for the Africa-focused coal firm.

Anglo-Australian miner Rio Tinto’s (RIO.AX: Quote, Profile, Research, Stock Buzz) (RIO.L: Quote, Profile, Research, Stock Buzz) offer
to buy Riversdale gathered steam this week after Riversdale’s
board unanimously recommended the bid.[ID:nL3E7CO04Y]

Jan 14, 2011

Onion anger mounts against embattled Congress govt

NEW DELHI (Reuters) – The trebling of onion prices in India is not just making street hawker Kamlesh Gupta struggle to keep his children in school but is now threatening the stability of the Congress party-led coalition government.

The world faces soaring food inflation but in a country where 40 percent of the 1.2 billion population lives below the World Bank-estimated poverty line, it cuts deep.

Jan 11, 2011

Cabinet changes could give hint on reform

NEW DELHI (Reuters) – Prime Minister Manmohan Singh may reshuffle his cabinet this month, government sources said on Tuesday, in a move that may reveal how much support he is giving to some reformist ministers.

Singh, facing the toughest time of his second term in office amid accelerating food inflation and corruption scandals, needs to fill several vacancies, some which came about as a result of the departure of ministers over graft accusations.

Jan 11, 2011

Indian cabinet changes could give hint on reform

NEW DELHI, Jan 11 (Reuters) – India’s Prime Minister
Manmohan Singh may reshuffle his cabinet this month,
government sources said on Tuesday, in a move that may reveal
how much support he is giving to some reformist ministers.

Singh, facing the toughest time of his second term in
office amid accelerating food inflation and corruption
scandals, needs to fill several vacancies, some which came
about as a result of the departure of ministers over graft
accusations.

Jan 7, 2011

RBI chief says rate pause not a full stop

MUMBAI (Reuters) – The Reserve Bank of India (RBI) governor Duvvuri Subbarao said on Friday a pause in its tightening cycle should be interpreted as a comma and not a full stop, indicating further monetary policy tightening going ahead.

Subbarao told a conference in New Delhi the RBI was aiming to improve transparency and would not surprise markets with unexpected actions.

Jan 7, 2011

RBI says rate pause not a full stop

MUMBAI (Reuters) – Reserve Bank of India (RBI) governor Duvvuri Subbarao said on Friday a pause in its tightening cycle should be interpreted as a comma and not a full stop, indicating further monetary policy tightening going ahead.

Subbarao told a conference in New Delhi the central bank was aiming to improve transparency and would not surprise markets with unexpected actions.

Jan 7, 2011

India cbank chief says rate pause not a full stop

MUMBAI, Jan 7 (Reuters) – India’s central bank governor
Duvvuri Subbarao said on Friday a pause in its tightening cycle
should be interpreted as a comma and not a full stop,
indicating further monetary policy tightening going ahead.
Subbarao told a conference in New Delhi the central bank was
aiming to improve transparency and would not surprise markets
with unexpected actions.

“While we have not surrendered our flexibility to take
policy action as and when warranted, more frequent scheduling
of policy reviews reduces the need for off-cycle action and
thereby minimises the surprise element,” Subbarao said.

Jan 7, 2011

India urges Pakistan to resume onion exports

NEW DELHI (Reuters) – India is trying to persuade Pakistan to resume full exports of onions, the foreign minister said on Friday, as food inflation weighs on Asia’s third-largest economy and fuels anger against the ruling coalition.

Discontent over food inflation has been a major headache for Prime Minister Manmohan Singh who is struggling with a slew of corruption charges against his government, eroding its political capital from an impressive election victory in 2009.

Jan 7, 2011

India says sees Iran oil payment row solution by Feb

NEW DELHI, Jan 7 (Reuters) – India hopes to resolve an oil
payments dispute with Iran before February, the foreign
secretary said on Friday, as the South Asian giant strives to
satisfy energy needs without upsetting the United States.

Indian Finance Ministry officials were discussing possible
solutions with bankers and oil executives ahead of a
ministerial visit to Tehran. But one participant warned of a
“long haul” as Indian bankers stopped issuing letters of
credit for the trade.

Jan 3, 2011

Key political risks to watch in India

NEW DELHI (Reuters) – The government faces the prospect of accelerating inflation from higher food prices, even as it considers lifting diesel prices, and it will walk a thin line as it balances political and economic objectives.

Here is a summary of political risks to watch in India:

CORRUPTION SCANDALS PARALYSE GOVERNMENT

Prime Minister Manmohan Singh’s government has been bogged down by a series of corruption scandals linked to members of his party or government, the fallout from which has paralysed policymaking and further delayed crucial economic reforms.