China says artificial blocks to bilateral cooperation will harm India

BEIJING – China said on Friday that artificial blocks to bilateral cooperation would harm India’s interests and that the two countries should work together to uphold peace in their border region. Beijing will take necessary measures to uphold the rights of Chinese businesses in India, foreign ministry spokesman Zhao Lijian told a news briefing.

"China says artificial blocks to bilateral cooperation will harm India"

India’s Modi visits Himalayan border where troops clashed with China

NEW DELHI/SRINAGAR – Indian Prime Minister Narendra Modi flew into the northern Himalayan region of Ladakh on Friday, officials said, weeks after Indian and Chinese troops clashed on their disputed border there, escalating tension between the Asian giants. Modi, who has been under pressure to respond to what India deems Chinese incursions, met troops at a base in Ladakh’s Nimu area, pictures from partner ANI showed. Officials said Modi was accompanied by the chief of…

"India’s Modi visits Himalayan border where troops clashed with China"

India’s services activity stayed in deep contraction in June: PMI

BENGALURU – India’s crippled services industry, the lifeblood of economic growth and jobs, contracted sharply in June as an extended lockdown imposed to stop the spread of the coronavirus stalled business activity, a private sector survey showed. Although the pace of decline moderated from May – the Nikkei/IHS Markit Services Purchasing Managers’ Index INPMIS=ECI jumped to 33.7 in June from May’s 12.6 – it remained a long way from the 50-mark separating growth from contraction.…

"India’s services activity stayed in deep contraction in June: PMI"

Taiwan’s Foxconn says customs clearing procedures in India have been resolved

TAIPEI – Apple supplier Foxconn said on Friday customs clearing procedures in India have been resolved, as additional scrutiny by the country of imports from China disrupted operations in some foreign firms amid tensions between the Asian giants. Foxconn’s customs clearance for cargo logistics in India has been resolved and all local regulatory procedures have been complied with, Foxconn said in a filing to Taipei stock exchange. It did not elaborate. Customs officers at Indian…

"Taiwan’s Foxconn says customs clearing procedures in India have been resolved"

Indian police allege fraud by GVK chairman, others at Mumbai airport

MUMBAI – India’s federal police have filed a criminal complaint against the chairman of conglomerate GVK Group and others for alleged fraud in the development of Mumbai’s international airport that resulted in the government losing more than $92 million. GVK Group, which has interests in energy, resources, airports and hospitality, led a consortium that formed a joint venture – Mumbai International Airport Ltd – with the Airport Authority of India (AAI) in 2006 to modernise…

"Indian police allege fraud by GVK chairman, others at Mumbai airport"

India’s TikTok stars feel pained by government app ban

MUMBAI – Geetha Sridhar never used to enter her kitchen in Mumbai without her smartphone. The 54-year-old homemaker used to post dozens of short videos daily on the Chinese video app TikTok, mostly of herself cooking traditional recipes. With 1 million TikTok followers, she earned an average 50,000 rupees ($662) a month from companies who paid her to use their products. For thousands of Indian content creators like Sridhar, TikTok was a window into fame…

"India’s TikTok stars feel pained by government app ban"

India asks telcos, internet firms to block banned Chinese apps, ByteDance to hold talks

NEW DELHI – India has ordered telecom companies and other internet providers to stop access to 59 banned Chinese-origin apps, according to notices seen by , intensifying efforts to crack down on such businesses following a border clash between the nations. The Department of Telecommunications (DOT) said internet operators should “immediately block” access to such apps and their websites, warning of legal action if they fail to do so, according to notices issued late on…

"India asks telcos, internet firms to block banned Chinese apps, ByteDance to hold talks"

India gold prices hit all-time high as virus spike lifts safe-haven demand

MUMBAI – Gold prices in India hit an all-time high on Wednesday, tracking a global rally, as surging coronavirus cases in many countries raised the metal’s safe-haven appeal. Local gold futures hit an all-time high of 48,871 rupees ($646.66) per 10 grams in early trade, taking their gains to 25% in 2020 so far. The contract had gained nearly 25% in 2019. However, this dampened the retail demand for gold in India, the world’s second…

"India gold prices hit all-time high as virus spike lifts safe-haven demand"

Firms in India downplay Chinese links amid wave of anti-China sentiment

NEW DELHI – Indian startups with Chinese funding and Chinese smartphone makers are actively touting their Indian-ness to users as they seek to address a growing wave of nationalism following a deadly border clash between the two countries earlier this month. A skirmish between India and China at a disputed Himalayan border site left 20 Indian soldiers dead, adding to anti-China sentiments brewing since the coronavirus pandemic began. Traders have since made calls to boycott…

"Firms in India downplay Chinese links amid wave of anti-China sentiment"

India’s top gas importer close to long-term deal around spot prices

NEW DELHI – India’s top gas importer Petronet LNG will soon finalise a deal to import at least 1 million tonnes per annum (mtpa) of liquefied natural gas with prices near the spot markets, its chief executive Prabhat Singh said on Tuesday. India wants to raise the share of natural gas in its energy mix from to 15% by 2030 from 6.2% now and is seeking affordable gas for its price-sensitive customers. “We are now…

"India’s top gas importer close to long-term deal around spot prices"