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[1/3] Visitors gather at Applied Materials and Micron Technology kiosks before the start of 'SemiconIndia 2023', India's annual semiconductor conference, in Gandhinagar, India, July 25, 2023. REUTERS/Amit DaveGANDHINAGAR, India July 26 (Reuters) - Top executives from Foxconn and semiconductor firms Micron and AMD will this week attend a conference in Prime Minister Narendra Modi's home state, as the government tries to lure investments into India's nascent chip industry. Modi will inaugurate the annual SemiconIndia conference in Gandhinagar, in western state of Gujarat, on Friday. The event comes just weeks after Foxconn backed out of a $19.5 billion chips joint venture with Vedanta, saying "the project was not moving fast enough". Which explains the skepticism of global chip giants to come here and set shop," said Arun Mampazhy, a former India manager of U.S.-based chipmaker GlobalFoundries.

Persons: Amit Dave GANDHINAGAR, Narendra Modi's, Modi, Young Liu, Sanjay Mehrotra, Mark Papermaster, Foxconn, Arun Mampazhy, Munsif, Sumit Khanna, Aditya Kalra Organizations: Materials, Micron Technology, REUTERS, Micron, AMD, Vedanta, Devices, Semiconductor, Thomson Locations: Gandhinagar, India, Taiwan, Gujarat, Bengaluru

IRSHALWADI, India, July 20 (Reuters) - The death toll from a massive landslide in western India rose to 16 late on Thursday, as rescue operations were suspended with around 100 people still feared trapped, officials said. Rescue workers recovered 16 bodies before night fell and local authorities advised they suspend the search, Director General of the National Disaster Response Force (NDRF), Atul Karwal, told Reuters. Rescuers searched for over 12 hours in heavy rains and fog, dodging large boulders that tumbled down the mountain slope, a Reuters witness and local media reported. [1/3]Members of rescue teams prepare graves to bury the victims after a landslide following heavy rains in Raigad district in the western state of Maharashtra, India, July 20, 2023. MORE RAIN COMINGA landslide in a nearby village killed more than 80 people two years ago.

Persons: Atul Karwal, Devendra Fadnavis, Francis Mascarenhas, Singh, Mahal, Mahatma Gandhi, Francis Mascerenhas, Shilpa Jamkhandikar, Rajendra Jadhav, Sumit Khanna, Robert Birsel Organizations: Response Force, Reuters, REUTERS, Indian Express, India Meteorological Department, Thomson Locations: IRSHALWADI, India, Irshalwadi, Maharashtra, Mumbai, Raigad district, Gujarat, New Delhi, Red, Rajghat

Reuters GraphicsIndia is among the world's top exporters of services, doubling its share in global services trade to over 4% from 2% in 2005, according to WTO estimates. Sunil Talati, president of government-aided Services Export Promotion Council, said total services exports could overtake goods exports in the next five years to $750 billion. A report by Knight Frank consultancy last week said demand for office space has risen sharply in smaller cities, driven by expanding operations of global accounting and multinationals, pushing up rents by up to 10%. Domestic accounting firms are also moving to smaller towns and raising wages. "With the Big Four and other global firms coming to our cities, we are going even deeper to open offices in smaller cities."

Persons: Ernst & Young, Diksha Mehta, Debasish Mishra, PwC, Padmaja Alaganandan, Narendra Modi, Sunil Talati, Swagatika Parmanik, Knight Frank, Kshitij Patel, Shah, Manoj Kumar, Kripa Jayaram, Sam Holmes Organizations: Business, Diksha, Reuters Graphics India, Deloitte, KPMG, Export Promotion Council, Reuters, PwC, IBM, Manubhai, Shah LLP, Thomson Locations: BHUBANESWAR, India, Mumbai, Delhi, Bengaluru, Jaipur, Vadodara, Kochi, Chandigarh, Patiala, Australian, Europe, New Delhi, Asia, Odisha, Bhubaneswar, Gujarat, Ahmedabad

☆ India's Gujarat in talks with Foxconn for its semiconductor plant
▼ + stars: | 2023-07-12 | by ( Sumit Khanna | ) www.reuters.com time to read: +2 min

AHMEDABAD, India July 12 (Reuters) - India's Gujarat state is holding talks with Foxconn over a semiconductor plant, a top government official told Reuters, days after the Taiwanese giant broke off a $19.5 billion joint-venture plan with India's Vedanta. "We are in touch with multiple prospective investors, including Foxconn ... Gujarat is uniquely positioned to attract top chipmakers," said Vijay Nehra, secretary of the science and technology department in Gujarat. Foxconn (2317.TW) this week exited its project with Vedanta (VDAN.NS), which was also planned for Prime Minister Narendra Modi's home state of Gujarat, citing issues such as slow progress. The breakup of the JV was a setback for Modi's vision to establish India as a semiconductor manufacturing hub. Its talks with Gujarat come weeks after Micron Technology (MU.O) said it will invest up to $825 million in a semiconductor testing and packaging facility in the state.

Persons: Vijay Nehra, Narendra Modi's, Foxconn, Modi, Lee, Munsif Vengattil, Aditya Kalra, Sharon Singleton Organizations: Reuters, Vedanta, JV, IGSS Ventures, ISMC, LinkedIn, Micron Technology, Thomson Locations: AHMEDABAD, India, Gujarat, ., Foxconn, Singapore

REUTERS/Amit Dave/File PhotoNEW DELHI, July 8 (Reuters) - An Indian court rejected PepsiCo Inc's appeal against an order that revoked a patent for a potato variety grown exclusively for the New York-based company's popular Lay's potato chips. The authority removed PepsiCo's patent cover after Kavitha Kuruganti, a farmers' rights activist, argued that the company cannot claim a patent over a seed variety. PepsiCo petitioned the Delhi High Court against the revocation of the patent cover. In its order dated July 5, Delhi High Court judge Navin Chawla dismissed PepsiCo's appeal against the authority's decision. In 2019, PepsiCo sued some Indian farmers for cultivating the FC5 potato variety, accusing growers of infringing its patent.

Persons: Amit Dave, Kavitha Kuruganti, Navin Chawla, Kuruganti, Mayank Bhardwaj, Sumit Khanna, Kim Coghill Organizations: REUTERS, PepsiCo, New, ' Rights, Authority, Court, Monsanto, drugmaker Bayer AG, Thomson Locations: Ahmedabad, India, DELHI, New York, Delhi, PepsiCo India, U.S

☆ Micron signs preliminary agreement for India chip facility
▼ + stars: | 2023-06-28 | by ( ) www.reuters.com time to read: 1 min

AHMEDABAD, June 28 (Reuters) - U.S. memory chip firm Micron Technology (MU.O) on Wednesday signed a memorandum of understanding with the Indian government to build a semiconductor plant, its first factory in the country. Micron said last week it will invest up to $825 million in the facility. With support from the Indian central government and the state of Gujarat, the total investment will be $2.75 billion, it added. The facility will be constructed in Sanand, near the city of Ahmedabad in Gujarat. Reporting by Sumit Khanna; Writing by Tanvi Mehta; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Sumit Khanna, Tanvi Mehta, Jan Harvey Organizations: Micron Technology, Wednesday, Micron, Thomson Locations: AHMEDABAD, Gujarat, Sanand, Ahmedabad

☆ Coastal areas of India's Gujarat state return to normalcy after cyclone
▼ + stars: | 2023-06-17 | by ( Sumit Khanna | ) www.reuters.com time to read: +2 min

AHMEDABAD, June 17 (Reuters) - Some 1,500 villages were still without electricity in India's western state of Gujarat, officials said on Saturday, as coastal areas recovered from the impact of this week's cyclone Biparjoy. In many villages, power had been cut off as a precautionary measure to avert any dangerous incidents during the storm, Gujarat Energy Secretary Mamta Verma told Reuters. A drone view shows dark clouds over Mandvi beach before the arrival of cyclone Biparjoy in the western state of Gujarat, India, June 15, 2023. More than 700 homes in the eight coastal districts of Gujarat suffered full or partial damage, according to the state government. Authorities in India and neighbouring Pakistan evacuated more than 180,000 people from vulnerable areas as the cyclone approached.

Persons: Mamta Verma, Port, Francis Mascarenhas, Kamal Dayani, Swati Bhat, Frances Kerry Organizations: Gujarat Energy, Reuters, REUTERS, Authorities, Thomson Locations: AHMEDABAD, Gujarat, Saurashtra, Kutch, Mundra, India, Pakistan

AHMEDABAD, India, June 16 (Reuters) - Early warnings, accurate identification of vulnerable areas and timely evacuations helped India to avert major casualties from cyclone Biparjoy, which battered the west coast near Pakistan late on Thursday, authorities said. India and Pakistan evacuated more than 180,000 people from the coastal areas to safety ahead of the cyclone. In 1998, a major storm in Gujarat killed about 4,000 people, according to local media, while in 2021, close to 100 people died in an 'extremely severe cyclone' named Tauktae. "Early identification of areas that were likely to be impacted by the cyclone and timely evacuation of people living within 10 km of the coasts are the biggest reasons" for low casualties, said Kamal Dayani, a senior Gujarat official. [1/5] A drone view of a broken bridge during the aftermath of Cyclone Biparjoy after it made landfall, along the Naliya-Bhuj highway, in the western state of Gujarat, , India, June 16, 2023.

Persons: Kamal Dayani, Francis Mascarenhas, Atul Karwal, Dayani, Sumit Khanna, Sudipto Ganguly, Kevin Liffey, Conor Humphries Organizations: Biparjoy, REUTERS, Authorities, Force, Thomson Locations: AHMEDABAD, India, Pakistan, Gujarat, Bhuj, Kutch, Ahmedabad, Mumbai

☆ Trees uprooted, roofs blown off by cyclone in India's Gujarat
▼ + stars: | 2023-06-16 | by ( ) www.reuters.com time to read: +1 min

[1/4] A man rides a motorcycle through a waterlogged street in Mandvi before the arrival of cyclone Biparjoy in the western state of Gujarat, India, June 15, 2023. REUTERS/Francis MascarenhasAHMEDABAD, India, June 16 (Reuters) - Roofs were blown off houses and trees and electric poles uprooted in several parts of India's western state of Gujarat as a severe cyclone made landfall overnight and heavy rain continued to lash the coast early on Friday. India's weather department warned of heavy to very heavy rainfall in Gujarat and the neighbouring state of Rajasthan through Friday. Pakistan's weather department said moderate to heavy rain was expected in the Hyderabad, Nooriabad and Thatta regions. Local television showed visuals of uprooted trees, people sheltering against strong winds and debris lying on roads in the aftermath of the cyclone.

Persons: Francis Mascarenhas, Biparjoy, Mohapatra, Sumit Khanna, Shilpa Jamkhandikar, Raju Gopalakrishnan Organizations: REUTERS, India Meteorological Department, Thomson Locations: Mandvi, Gujarat, India, Francis Mascarenhas AHMEDABAD, Pakistan, Jakhau, Rajasthan, Hyderabad, Nooriabad, Thatta, Ahmedabad

He warned that contaminated medicines could still be found for several years, because adulterated barrels of an essential ingredient may remain in warehouses. Cough syrups and the ingredient, propylene glycol, both have shelf-lives of around two years. Unscrupulous actors sometimes substitute propylene glycol with toxic alternatives, ethylene glycol and diethylene glycol, because they are cheaper, several pharmaceutical manufacturing experts told Reuters. The WHO said it has also offered help to Liberia and Cameroon – which recently signalled that it too may have contaminated cough syrups for sale. The contaminated syrups in Liberia were made by India's Synercare Mumbai, according to the Nigerian regulator.

Persons: Rutendo Kuwana, Kuwana, –, syrups, Naresh Kumar Goyal, QP Pharmachem, India's Synercare, Synercare, It's, Jennifer Rigby, Krishna N.Das, Edward McAllister, Stanley Widianto, Sumit Khanna, Sophie Yu, Sara Ledwith, Michele Gershberg Organizations: World Health Organization, WHO, Reuters, Pharmaceutical, Marshall, Indonesian, –, PT Universal Pharmaceutical Industries, AFI, Pharmaceuticals, Marion Biotech, Maiden Pharmaceuticals, Thomson Locations: LIBERIA, CAMEROON, Liberia, Nigeria, Gambia, Uzbekistan, Micronesia, Indonesian, – Timor Leste, Cambodia, Senegal, Philippines, Cameroon, syrups, Marshall Islands, India's Synercare Mumbai, Nigerian, Liberian, India, Panama, Delhi, Dakar, Jakarta, Ahmedabad, Beijing

☆ Fast approaching cyclone forces evacuation of 75,000 people on India's west coast
▼ + stars: | 2023-06-15 | by ( Sumit Khanna | ) www.reuters.com time to read: +2 min

[1/4] A man carries a child from a truck during an evacuation before the arrival of cyclone Biparjoy in Jakhau in the western state of Gujarat, India, June 14, 2023. REUTERS/Francis MascarenhasAHMEDABAD, India, June 15 (Reuters) - Authorities in India's western state of Gujarat evacuated more than 75,000 people from vulnerable coastal communities as cyclone Biparjoy was expected whirl in from the Arabian Sea to make landfall by Thursday evening. Early on Thursday, the cyclone was centred 180 km (112 miles) off Jakhau port in Gujarat and 270 km (168 miles) off Karachi in Pakistan, the India Meteorological Department said. "We have evacuated more than 75,000 persons from the eight coastal districts in Gujarat that are expected to be impacted by the cyclone," Kamal Dayani, additional chief secretary in Gujarat’s revenue department said. (This story has been refiled to fix a typographical error in the headline)Reporting by Sumit Khanna; Writing by Shilpa Jamkhandikar; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, Kamal Dayani, Sherry Rehman, Sumit Khanna, Shilpa Jamkhandikar, Simon Cameron, Moore Organizations: REUTERS, India Meteorological Department, IMD, Thomson Locations: Jakhau, Gujarat, India, Francis Mascarenhas AHMEDABAD, India's, Karachi, Pakistan

[1/3] A police officer patrols Mandvi beach after it was shut because of cyclone Biparjoy in the western state of Gujarat, India, June 14, 2023. Classified as a very severe cyclonic storm, Biparjoy was situated about 280 km (174 miles) from Jakhau Port in Gujarat and was expected to make landfall around Thursday evening. "As of now, our forecast is it will cross as a very severe cyclonic storm. Eight districts in coastal Gujarat are expected to be affected, the state government said. The evacuation operations will continue till today (Wednesday) evening, mainly in Kutch," said Kamal Dayani, a senior official in the Gujarat state government.

Persons: Francis Mascarenhas, Manorama Mohanty, Kamal Dayani, Sudipto Ganguly, Raju Gopalakrishnan Organizations: REUTERS, India Meteorological Department, IMD, Ships, Wednesday, Disaster Management Authority, Thomson Locations: Gujarat, India, Francis Mascarenhas AHMEDABAD, MUMBAI, Pakistan, Jakhau Port, Kutch, Saurashtra, Mandvi, Karachi, Jakhau, Pakistan's

[1/3] A man with a mobile phone takes a picture of rising waves before the arrival of the cyclonic storm Biparjoy over the Arabian Sea, in Karachi, Pakistan, June 14, 2023. The cyclone is likely to cross Saurashtra, Kutch, and neighboring Pakistan coasts on Thursday noon with winds of 125-135 kmph gusting to 150 kmph. "As of now, our forecast is it will cross as a very severe cyclonic storm. After crossing, its intensity will fall and become a cyclonic storm and depression." In neighbouring Pakistan 62,000 people were evacuated from high risk areas, according to the country's National Disaster Management Authority.

Persons: Akhtar Soomro, gusting, Sherry Rehman, Manorama Mohanty, Mrutyunjay Mohapatra, Mohapatra, Alok Kumar Pandey, Sumit Khanna, Rajendra Jadhav, Gibran Naiyyar Peshimam, Sudipto Ganguly, Raju Gopalakrishnan, Barbara Lewis Organizations: REUTERS, India Meteorological Department, IMD, Gujarat's, Disaster Management Authority, Ships, Rajendra, Thomson Locations: Karachi, Pakistan, Akhtar Soomro AHMEDABAD, MUMBAI, Jakhau Port, Indian, Gujarat, Pakistan's, Saurashtra, Kutch, Mandvi, Jakhau, India, Ahmedabad, Mumbai

[1/2] A lifeguard patrols Juhu beach, during a red flag alert due to rough seas caused by cyclone Biparjoy, in Mumbai, India, June 12, 2023. Eight districts in coastal Gujarat are expected to be affected, the state government said. Gujarat is home to many offshore oil installations and major ports in the country and most have been forced to suspend operations. Two of India's largest ports - Kandla and Mundra - located in Gujarat, have suspended operations, the state government said. Other ports including Bedi, Navlakhi, Porbandar, Okha, Pipavav and Bhavnagar have also closed due to the cyclone, according to shipping sources.

Persons: Francis Mascarenhas, Kamal Dayani, Bedi, Navlakhi, Jamnagar, Sumit Khanna, Rajendra Jadhav, Mohi Narayan, Sudipto Ganguly, Raju Gopalakrishnan Organizations: REUTERS, India Meteorological Department, Force, Reliance Industries, Adani, Indian Coast Guard, Key Singapore, Oil, Gas, Vedanta Ltd, National Disaster Management Authority, Rajendra, Thomson Locations: Mumbai, India, Francis Mascarenhas AHMEDABAD, MUMBAI, Gujarat, Pakistan, Mandvi, India's Gujarat, Karachi, Kutch, Rajkot, Pipavav, Bhavnagar, Mundra, Tuna, Kandla, Key, Dubai, Ahmedabad

☆ Cyclone likely to hit India's west coast, south Pakistan on Thursday
▼ + stars: | 2023-06-12 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +3 min

[1/7] A lifeguard patrols Juhu beach, during a red flag alert due to rough seas caused by cyclone Biparjoy, in Mumbai, India, June 12, 2023. REUTERS/Francis MascarenhasMUMBAI, June 12 (Reuters) - A storm off India's west coast has strengthened to become a powerful cyclone and could hit India's western state of Gujarat and southern parts of Pakistan this week, the Indian weather department said on Monday. "Rescue and relief teams of the Coast Guard, Army and Navy along with ships and aircraft have been kept ready on standby," it said. In neighbouring Pakistan, the National Disaster Management Authority said instructions were being given to take precautionary measures in southern and southeastern parts that may be affected. A 1998 cyclone killed at least 4,000 people and caused hundreds of millions of dollars in damage in Gujarat.

Persons: Francis Mascarenhas MUMBAI, Biparjoy, Rajendra Jadhav, Asif Shahzad, Sumit Khanna, Sakshi Dayal, Shivam Patel, Raju Gopalakrishnan, Philippa Fletcher, Jonathan Oatis, Mark Heinrich Our Organizations: REUTERS, India Meteorological Department, Adani, Indian Coast Guard, Key Singapore, Oil, Gas, Vedanta Ltd, Response Force, Coast Guard, Army, Navy, National Disaster Management Authority, Thomson Locations: Mumbai, India, Gujarat, Pakistan, Mandvi, Karachi, Fishermen, Mundra, Tuna, Kandla, Key, Dubai, Gujarat Pipavav, Kerala, Maharashtra, Karnataka, Andhra Pradesh, Tamil Nadu

☆ India puts coastal states on alert amid warning of strengthening cyclonic storm
▼ + stars: | 2023-06-10 | by ( Sumit Khanna And Manoj Kumar | ) www.reuters.com time to read: +1 min

AHMEDABAD,India/NEW DELHI June 10 (Reuters) - India's western states of Gujarat, Maharashtra, Goa and other coastal regions are on alert after meteorologists warned that a cyclonic storm over the Arabian sea would intensify over the next 24 hours. It warned of heavy rainfall at isolated places in the state of Kerala and coastal Karnataka region in next three days. In Gujarat, the 13 coastal districts of South Gujarat, Saurashtra peninsula and Kutch have been put on alert. "We are fully prepared to deal with any situation," Kamal Dayani, additional chief secretary in the state revenue department, told Reuters. Teams from the National Disaster Response Force and State Disaster Response Force have been deployed in the districts likely to be affected by the storm.

Persons: Biparjoy, Kamal Dayani, Manoj Kumar, Mike Harrison Organizations: Authorities, Cyclone, Indian Meteorological Department, IMD, Reuters, Force, Thomson Locations: AHMEDABAD, India, DELHI, Gujarat, Maharashtra, Goa, Kutch, Mumbai, Kerala, Karnataka, South Gujarat, Saurashtra

☆ India's Tata Group signs $1.6 bln EV battery plant deal
▼ + stars: | 2023-06-02 | by ( Sumit Khanna | ) www.reuters.com time to read: +1 min

AHMEDABAD, June 2 (Reuters) - India's Tata Group signed an outline deal on Friday on building a lithium-ion cell factory, based on investment of about 130 billion rupees ($1.58 billion), as part of the nation's efforts to create its own electric vehicle supply chain. Compared to the size of its population, India's car market is tiny. Tata Motors dominates its electric vehicle (EV) sales, which made up just 1% of India's total car sales of about 3.8 million last year. "The plant will go a long way in contributing to the development of the EV ecosystem in Gujarat and India," Vijay Nehra, an official in the Gujarat state government told Reuters. ($1 = 82.3373 Indian rupees)Reporting by Sumit Khanna and Tanvi Mehta; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Vijay Nehra, Sumit Khanna, Tanvi Mehta, Barbara Lewis Organizations: India's Tata Group, Tata Motors, Solutions, Reuters, Thomson Locations: AHMEDABAD, Gujarat, Sanand, India

☆ Online pet goods retailer Chewy surges on sales forecast lift, Canada foray plans
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +2 min

June 1 (Reuters) - Shares of Chewy Inc (CHWY.N) rose nearly 20% in premarket trading on Thursday after the online pet supplies retailer raised its annual revenue forecast and said it would enter the Canadian market. The company posted a surprise profit for the first quarter as its sales benefited from strong customer loyalty, prompting at least two brokerages to raise their price target. "Canadian marketplace represents upwards of $15 billion in annual pet sales and is ~10% points underpenetrated online vs. the U.S.," said Roth MKM in a note. The company now expects its full-year revenue between $11.15 billion and $11.35 billion, compared with its prior forecast range of $11.10 billion to $11.30 billion. Excluding items, the company posted net income per share of $0.20 for the first quarter, compared with analysts' expectations of a loss of $0.04 per share.

Persons: Chewy, Roth, Ryan Cohen, Sumit Singh, Vansh Agarwal, Shweta Agarwal Organizations: Chewy Inc, Thomson Locations: Canada, U.S, Bengaluru

☆ We're seeing tremendous consumer resilience in the pet sector, says Chewy CEO Sumit Singh
▼ + stars: | 2023-05-31 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're seeing tremendous consumer resilience in the pet sector, says Chewy CEO Sumit SinghSumit Singh, Chewy CEO, joins 'Closing Bell Overtime' to discuss the company's Q1 results, the resulting stock reaction, and its move into pet healthcare.

Persons: Sumit Singh Sumit Singh

David Solomon has been Goldman Sachs' CEO for over four years since succeeding Lloyd Blankfein. There's been a lot of talk about the morale at Goldman Sachs. Solomon said there were fewer "partner transitions at Goldman Sachs" in 2022 than any year "going back to 2014." Meanwhile, Solomon's expensive foray into consumer banking raised the ire of some longtime Goldman partners, as Insider has previously reported. The fresh faces among the Goldman Sachs executives who took the stage at the bank's investor day highlight the leadership changes under Solomon.

About 90% of all credit card spending is on rewards cards. More from Personal Finance:5 ways to start paying down credit card debtDoes America's credit habit make a recession inevitable? What to do as credit card rates keep climbingIn 2019, in return for all the spending on these types of credit cards, the largest U.S. banks paid out nearly $35 billion in rewards. In that same year, banks reported more than $140 billion in revenue from all credit cards. More than half of that revenue comes from rewards credit cards, according to Agarwal.

☆ Private-credit firms see opportunity as banks tighten lending
▼ + stars: | 2023-05-10 | by ( Lisa Pauline Mattackal | ) www.reuters.com time to read: +2 min

May 10 (Reuters) - Private-credit firms are eyeing fresh opportunities from a potential borrowing squeeze in the United States as battered regional banks tighten lending after the turmoil in the sector, according to fund managers and investment strategists. Such lenders see commercial and residential real estate as particularly attractive, given the prominence of regional banks in these sectors. Regional U.S. banks accounted for about 70% of outstanding loans to the commercial real estate (CRE) sector alone, according to Capital Economics. "Signature was one of the biggest providers of real estate lending in the New York area, commercial real estate is very vulnerable ... as a lender you want to be on the other side of that," Handa said. Many private credit funds have plenty of excess funds, or "dry powder" to invest, said Matt Malone, head of investment management at private investment management firm Opto Investments.

☆ India's Rahul Gandhi appeals after court denies stay of defamation conviction
▼ + stars: | 2023-04-25 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, April 25 (Reuters) - Indian opposition leader Rahul Gandhi on Tuesday appealed to the High Court in the western state of Gujarat seeking a stay of conviction in a defamation case, challenging a lower court's ruling against his plea, his lawyer said. The 52-year old scion of India's Congress party was sentenced to two years' imprisonment. His petition seeking a stay of conviction was rejected last week. Gandhi also lost his parliamentary seat following the conviction since lawmakers sentenced to jail terms of two years or more are automatically disqualified and barred from running for election. Two more defamation cases have also been filed against Gandhi elsewhere in India relating to the same comment.

☆ Indian court denies Rahul Gandhi's appeal to stay defamation conviction
▼ + stars: | 2023-04-20 | by ( Sumit Khanna | ) www.reuters.com time to read: +2 min

AHMEDABAD, India, April 20 (Reuters) - A court in India's western state of Gujarat on Thursday rejected Congress leader Rahul Gandhi's petition seeking a stay of conviction in a defamation case, fuelling uncertainty over whether he will be able to contest an election due next year. "The Surat district court has not granted a stay on Rahul Gandhi's conviction," Naishadh Desai, a local Congress leader and lawyer, told reporters outside the court room. While Thursday's ruling was a setback for Gandhi, his jail sentence remained suspended until he exhausts all legal challenges. Senior Congress leader and Supreme Court lawyer Jairam Ramesh said the party would use every legal option to overturn Gandhi's conviction. The defamation case against Gandhi was brought by Purnesh Modi, a BJP legislator in the Gujarat state assembly.

☆ India's Gandhi to appeal against defamation conviction on "multiple grounds"
▼ + stars: | 2023-04-03 | by ( Sumit Khanna | ) www.reuters.com time to read: +2 min

SURAT, India, April 3 (Reuters) - Indian opposition leader Rahul Gandhi will on Monday lodge an appeal against his conviction for defamation, his lawyer said, hoping to overturn a judgement that resulted in his expulsion from parliament a year before a general election is due. Gandhi, the scion of a dynasty that has given India three prime ministers, was granted bail and a two-year jail sentence was suspended for 30 days allowing him to appeal in a higher court. "Gandhi will challenge the conviction order on multiple grounds," his lawyer, Kirit Panwala, told Reuters in Surat city in the western state of Gujarat where the appeal will be heard. He said the appeal would also highlight what he called procedural lapses in the trial. Writing by Rupam Jain in New Delhi; Editing by YP Rajesh, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

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