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BENGALURU, India, Feb 21 (Reuters) - G20 finance ministers and central bank governors will discuss debt troubles in developing economies, crypto currencies and global inflationary pressures at a meeting later this week, Indian officials said on Tuesday. The Feb. 22-25 meeting in the Nandi Hills summer retreat near Bengaluru is the first major event of India's G20 presidency. The meeting straddles the Feb. 24 anniversary of Russia's invasion of Ukraine and the war is likely to be high on the agenda. Reuters reported last week that India is drafting a proposal for G20 countries to help debtor nations by asking lenders, including China, the world's largest sovereign creditor, to take a large haircut on loans. "So the discussions would be aimed both at handling them before they arise and after they arise as well."

☆ Broken wires, faulty renovation caused deadly India bridge collapse, probe finds
▼ + stars: | 2023-02-20 | by ( Sumit Khanna | ) www.reuters.com time to read: +3 min

AHMEDABAD, India, Feb 20 (Reuters) - Broken corroded wires, improper welding and changes to the walking surface of a 145-year-old hanging bridge in India contributed to its collapse last year that killed 135 people, an investigation has found. "Main cable of the upstream side was found broken on one side," according to a preliminary investigation report seen by Reuters. "Out of the 49 wires of the main cable, 22 were corroded which indicates that those wires may be already broken before the incident. The Oreva Group did not immediately respond to an emailed request for comment. The report blamed Oreva for unrestricted access to the bridge for people and insufficient security arrangements.

☆ India invokes emergency law to force coal-based power plants to up output
▼ + stars: | 2023-02-20 | by ( Sarita Chaganti Singh | ) www.reuters.com time to read: +2 min

NEW DELHI, Feb 20 (Reuters) - India on Monday invoked an emergency law to force power plants that run on imported coal to maximise output ahead of an expected record surge in power usage this summer, according to an internal power ministry notice seen by Reuters. Reuters reported last month on India's plans to use the law to maximise coal power output. In the notice sent to all imported coal-based power plants, the ministry said it expects them to operate at full capacity and sell power to buyers on exchanges. India's imported coal plants have a total capacity of 17 gigawatts. India expects its power plants to burn about 8% more coal in the financial year ending March 2024, with increased economic activity and erratic weather to continue to boost growth in demand for power.

The Adani Group has denied any wrongdoing. "Depending on the outcome of the MSCI review, we could see more pressure on select Adani group stocks." "This determination has triggered a free float review of the Adani Group securities." Adani Group did not respond to a Reuters request for comment. They accuse his government of giving undue favours to the Adani Group, a charge denied by the government and the company.

"Depending on the outcome of the MSCI review, we could see more pressure on select Adani group stocks." "MSCI has determined that the characteristics of certain investors have sufficient uncertainty that they should no longer be designated as free float ... This determination has triggered a free float review of the Adani Group securities," it added. Adani group did not respond to a Reuters request for comment. Adani Transmission (ADAI.NS), Adani Total Gas (ADAG.NS) and Adani Power (ADAN.NS) were each down 5%, while Adani Ports and Special Economic Zone (APSE.NS) were down nearly 2.9%.

☆ India's Modi lashes opposition as Adani allegations persist
▼ + stars: | 2023-02-08 | by ( Shivam Patel | ) www.reuters.com time to read: +3 min

Modi spent a nearly 90-minute speech to parliament mainly listing governments achievements and without naming the under-fire Adani Group. However, opposition lawmakers who are demanding an investigation into the business group interrupted him several times shouting slogans. "The blessings of 1.4 billion people in the country is my protective cover and you can't destroy it with lies and abuses," said Modi as opposition lawmakers chanted "Adani, Adani". Adani Transmission (ADAI.NS), Adani Power (ADAN.NS) and Adani Wilmar (ADAW.NS) rose 5% each, while Adani Green (ADNA.NS) and Adani Total Gas Ltd (ADAG.NS) fell 5% each. They have questioned investments made by state-run Life Insurance Corporation of India (LIFI.NS) and the State Bank of India (SBI.NS) in Adani Group companies.

☆ Paris Club creditors give assurances to back IMF bailout for Sri Lanka
▼ + stars: | 2023-02-07 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +3 min

[1/3] A woman buys vegetables from a vendor at a market in the rampant food inflation, amid Sri Lanka's economic crisis, in Colombo, Sri Lanka, July 30 , 2022. REUTERS/Kim Kyung-HoonFeb 7 (Reuters) - The Paris Club of creditors has given financing assurances to support the International Monetary Fund's approval of an extended fund facility for Sri Lanka, the Sri Lankan president's office said on Tuesday. The financing assurances from the Paris Club, which includes Japan - Sri Lanka's second biggest bilateral lender - was previously reported by Reuters. "Members further expressed appreciation for the specific and credible financing assurances issued by India on Jan. 16, 2023 and its coordination with the Paris Club," the group's statement added. Sri Lanka has to restructure debt payments of about $13 billion on 11 international bonds.

☆ U.S. FDA says India-made eye drop linked to some infections, blindness and one death
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

The agency said on Thursday that Artificial Tears eye drop manufactured by India's Global Pharma Healthcare Pvt Ltd has a potential bacterial contamination and the company has violated current good manufacturing practices. Global Pharma Healthcare did not immediately respond to a Reuters request seeking comment on the FDA statement. EzriCare said in a statement on Wednesday that it had stopped further distribution and sale of the eye drop, and it was not aware of any testing that "definitively links" the bacterial outbreak to the product. It said that as of Jan. 31, the CDC had identified 55 patients in 12 states with infections linked to the use of Artificial Tears distributed by EzriCare, it said. "Associated adverse events include hospitalization, one death with bloodstream infection, and permanent vision loss from eye infections," the FDA said.

On Tuesday, the Adani group appeared to have fought back the attack by the New York-based short-seller Hindenburg and rallied investors behind the $2.5 billion share issue of flagship firm Adani Enterprises (ADEL.NS). It was a rare defeat for a man who has seemed unstoppable in recent years. In recent years, the $220 billion Adani Group empire has attracted foreign investment - France's TotalEnergies (TTEF.PA), for example, partnered with Adani last year to develop the world's biggest green hydrogen ecosystem. On Wednesday, Adani said his company felt it wasn't "morally correct" to proceed with the share sale following the volatility in the market. But he said in a statement to the exchange the company was financial stable and that the withdrawal of the share issue will not impact its future plans.

Adani, whose home state is Gujarat in western India, built his business empire from scratch after starting as a commodities trader. Adani's business empire grew rapidly and his wealth ballooned. In recent years, the $220 billion Adani Group empire has attracted foreign investment - France's TotalEnergies (TTEF.PA), for example, partnered with Adani last year to develop the world's biggest green hydrogen ecosystem. It is not known what was discussed and Adani Group did not respond to a request for comment on Friday. Adani Group's consolidated gross debt stands at $23.34 billion, Jefferies says.

☆ Pakistan seeks U.S. help in unlocking $1.1 bln IMF loan - Dawn
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +1 min

Jan 26 (Reuters) - Pakistan has sought support from Washington to unlock a stalled International Monetary Fund programme that would release $1.1 billion to its strained economy as the country rebuilds after last year's devastating floods, Dawn newspaper said on Thursday. The IMF and Pakistan signed a $6 billion bailout in 2019, that was topped up with another $1.1 billion last year, but that came with conditions attached, aimed at reducing the budget deficit before the loan is released. "However, he pointed out, Pakistan required breathing space as the industry and agriculture had passed through most challenging times after the devastating floods," the report in the Pakistani English-language newspaper said. Last year's severe floods submerged swathes of the country, killed at least 1,700 people, and battered its already strained economy. Rebuilding costs were estimated at $16.3 billion and international donors this month pledged to finance more than half of that.

[1/2] India's Prime Minister Narendra Modi walks after the handover ceremony during the G20 Leaders' Summit, in Nusa Dua, Bali, Indonesia, November 16, 2022. The Students' Federation of India (SFI) plans to show the documentary, "India: The Modi Question", in every Indian state, its general secretary told Reuters on Wednesday. "We are encouraging campuses across the country to hold screenings as an act of resistance against this censorship," Ghosh said. The media coordinator for the university administration did not comment when asked about the power cut on the campus. Ghosh said members of a right-wing student group threw bricks at the students hoping to watch the documentary hurting several, and students had complained to police.

☆ Twelve rescued after building collapses in India; more feared trapped
▼ + stars: | 2023-01-24 | by ( Saurabh Sharma | ) www.reuters.com time to read: +1 min

[1/4] Police officers and rescue workers stand on the debris of a residential apartment block after it collapsed in Lucknow, India, January 24, 2023. REUTERS/Saurabh SharmaLUCKNOW, India, Jan 24 (Reuters) - Rescue workers pulled 12 people, including two children, out of the rubble after a residential apartment block collapsed in the northern Indian city of Lucknow, but more were feared trapped inside, a local police official said on Tuesday. At least 12 more people were feared trapped, the official said, as rescue workers sought to clear rubble and debris from the site, located in a crowded and posh area of Lucknow, the capital of India's most populous state of Uttar Pradesh. Television channels showed piles of brick and concrete and police teams clearing the rubble to search for survivors. A total of 24 people were feared trapped when the building collapsed, Chauhan said.

☆ Twitter account of Indian actress Ranaut restored after two-year ban
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, Jan 24 (Reuters) - The Twitter account of leading Bollywood actress Kangana Ranaut has been restored two years after she was banned following a tweet urging Prime Minister Narendra Modi to subdue one of his political opponents. Ranaut sent a screen-shot of her Twitter handle @KanganaTeam from her Instagram account on Tuesday and said she was "glad to be back on Twitter". Twitter Inc did not immediately respond to a query from Reuters on the restoration of Ranaut's account. Twitter suspended Ranaut's account in May 2021 for "repeated violations" of its hateful conduct and abusive behaviour policies. She took to Instagram last year to applaud articles about Elon Musk's takeover of Twitter and also shared requests from users who appealed to Musk to restore her Twitter account.

☆ Indian university warns students not to screen BBC documentary on Modi
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +3 min

NEW DELHI, Jan 24 (Reuters) - A top Indian university has threatened strict disciplinary action if its students' union carries out plans on Tuesday to screen a BBC documentary on Prime Minister Narendra Modi, saying the move might disturb peace and harmony on campus. The students' union of New Delhi's Jawaharlal Nehru University, long seen as a bastion of left-wing politics, said on Twitter it would screen the documentary, "India: The Modi Question", at a cafeteria at 9 p.m. (1530 GMT). "The concerned students/individuals are firmly advised to cancel the proposed programme immediately, failing which a strict disciplinary action may be initiated as per the university rules." She declined to comment on the university's threat of disciplinary action, however. The BBC did not immediately respond to a request for comment on the threat of disciplinary action.

☆ Thousands of mobile phone towers go offline in Pakistan after power outage - source
▼ + stars: | 2023-01-23 | by ( Gibran Naiyyar Peshimam | ) www.reuters.com time to read: +2 min

KARACHI, Pakistan, Jan 23 (Reuters) - Thousands of mobile phone towers have gone offline across Pakistan due to a nationwide power cut on Monday, an industry source told Reuters, raising the spectre of a telecommunications blackout in parts of the country of 220 million people. The disruption has begun hitting the country's approximately 40,000 telecommunication towers. Separately, the country's telecommunication regulator, the Pakistan Telecommunication Authority (PTA), warned of outages. "Due to country wide power outage, users may face service disruptions," PTA said in a statement. A spokesperson for PTA did not respond to a question on how many of Pakistan's telecommunication towers were offline.

☆ No issue with crypto in India if laws are followed - minister
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, Jan 19 (Reuters) - India's junior IT minister on Thursday said there was no issue with cryptocurrencies in India if all laws are followed, in remarks that contradicted the central bank's view advising investors to stay away from crypto. India has been trying to come up with regulation for cryptocurrencies, with a central bank deputy governor even calling for them to be banned, but the government has not been able to formulate legislation yet. In Febraury, a deputy governor of the Reserve Bank of India (RBI), T. Rabi Sankar, said cryptocurrencies were akin to Ponzi schemes or worse and banning them was the most sensible option for India. RBI Governor Shaktikanta Das also said in February that cryptocurrencies lacked the underlying value of even a tulip. Reporting by Shivam Patel in New Delhi; editing by Jason Neely and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

☆ India says BBC documentary on India PM Modi is "propaganda"
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

[1/2] India's Prime Minister Narendra Modi waves to his supporters as he arrives to cast his vote during the second and last phase of Gujarat state assembly elections in Ahmedabad, India, December 5, 2022. REUTERS/Amit Dave/File PhotoNEW DELHI, Jan 19 (Reuters) - India's foreign ministry on Thursday dismissed a BBC documentary on Prime Minister Narendra Modi which questioned his leadership during the 2002 Gujarat riots as "propaganda". Accused of failing to stop the rioting, Modi denied the accusations and was exonerated in 2012 following an inquiry by India's top court. Terming the BBC documentary a "propaganda piece" meant to push a "discredited narrative", foreign ministry spokesperson Arindam Bagchi said a "bias", "lack of objectivity", and "continuing colonial mindset" is "blatantly visible" in it. "We offered the Indian Government a right to reply to the matters raised in the series – it declined to respond," a BBC spokesperson said.

☆ Top Indian wrestlers accuse sports body chief of sexual harassment
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Anushree FadnavisNEW DELHI, Jan 19 (Reuters) - Olympic medal-winning Indian wrestlers have accused the chief of their sport's governing body and its coaches of sexually harassing female players and have vowed to protest until the federation is disbanded and its head investigated. The athletes say they know five or six players who have in the past been victims of harassment. The wrestlers met sports ministry officials on Thursday and were given "assurances" of action, Malik, The first Indian female wrestler to win an Olympic medal, told reporters at the protest site. Punia, one of India's top male wrestlers, Malik and Phogat said they would not take part in any tournaments until adequate action was taken and the wrestling federation was disbanded. Reporting by Shivam Patel in New Delhi; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ As India debates demographics, small mountain state wants more babies
▼ + stars: | 2023-01-19 | by ( Shivam Patel | ) www.reuters.com time to read: +3 min

Reuters GraphicsThose calls come as India's population gains slow. India's total fertility rate (TFR) - children per woman - fell to 2 in the latest assessment period, for 2019-2021, from 3.4 in 1992-93, according to a government report issued in October. Quraishi, the country's former chief election commissioner who has written a book titled: "The Population Myth: Islam, Family Planning and Politics in India". "India as a whole country will take at least 25 years." Reporting by Shivam Patel in New Delhi; Editing by Krishna N. Das and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ India's coal imports directive to power plants a precautionary step, official says
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: 1 min

NEW DELHI, Jan 12 (Reuters) - India's recent coal imports directive to power plants was a precautionary measure as the country is expecting high electricity demand to continue in the coming months, a top government official said on Thursday. India this week asked all power plants to import and blend 6% of their coal requirement as domestic coal availability is expected to fall short due to high consumption. "It is a matter of abundance caution," Coal Secretary Amrit Lal Meena told reporters on Thursday. Reporting by Sarita Chaganti Singh, writing by Shivam Patel in New Delhi; Editing by Krishna N. DasOur Standards: The Thomson Reuters Trust Principles.

☆ Pakistan seeks $8 bln in three years for flood recovery
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

[1/5] Pakistan's Prime Minister Shehbaz Sharif and United Nations Secretary General Antonio Guterres attend a summit on climate resilience in Pakistan, months after deadly floods in the country, at the United Nations, in Geneva, Switzerland, January 9, 2023. REUTERS/Denis BalibouseJan 9 (Reuters) - Pakistan needs $8 billion from its international partners over the next three years to rebuild the country that is reeling from last year's devastating floods, Prime Minister Shehbaz Sharif said in Geneva on Monday. The floods, blamed on climate change, dealt a severe blow to Pakistan's strained economy while displacing some 8 million people and killing at least 1,700. Rebuilding efforts are now estimated to cost more than $16 billion. Reporting by Gibran Peshimam and Asif Shahzad, writing by Shivam Patel; Editing by Krishna N. DasOur Standards: The Thomson Reuters Trust Principles.

☆ India OKs $2 bln incentive plan for green hydrogen industry
▼ + stars: | 2023-01-04 | by ( Sarita Chaganti Singh | ) www.reuters.com time to read: +3 min

Reuters reported last month about India's plans for a green hydrogen incentive programme. "Our aim is to establish India as a global hub of green hydrogen," Thakur said. India also plans to build electrolyser capacity of 60 gigawatts to 100 gigawatts to help produce green hydrogen, Thakur said. To promote the use of green hydrogen, Thakur said obligations - such as mandatory targets for green hydrogen consumption - would be required of fertiliser units, petroleum refineries and city gas distribution networks. The United States and the European Union have already approved incentives worth billions of dollars for green hydrogen projects.

☆ India proposes self-regulatory bodies for online gaming companies
▼ + stars: | 2023-01-02 | by ( ) www.reuters.com time to read: 1 min

NEW DELHI, Jan 2 (Reuters) - India has proposed self-regulatory bodies for online gaming companies operating in the country in a draft of amendments to its information technology rules published on Monday. The proposal came after a recommendation by a government panel on creating a regulatory body to classify online games as based on skill or chance, introduce rules to block prohibited formats and take a stricter stance on online gambling, Reuters reported in September. Reporting by Shivam Patel in New Delhi; editing by Sudipto GangulyOur Standards: The Thomson Reuters Trust Principles.

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