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Biden said he discussed human rights and other democratic values with Modi during their talks in the White House. In reports on human rights and religious freedom, the State Department raised concerns over treatment of Muslims, Hindu Dalits, Christians and other religious minorities in India while also listing a crackdown on journalists. India has become a black-hole for religious minorities," said protester Raqib Hameed Naik, the founder of Hindutva Watch, a group that monitors reports of attacks on Indian minorities. Senator Bernie Sanders said Modi's "aggressive Hindu nationalism" has "left little space for India's religious minorities." The U.N. human rights office described a 2019 citizenship law as "fundamentally discriminatory" for excluding Muslim migrants.

Persons: Narendra Modi, Joe Biden, Kevin Lamarque WASHINGTON, Biden, Modi, MODI'S, Raqib Hameed Naik, Ilhan Omar, Rashida, Alexandria Ocasio, Bernie Sanders, Modi's, Barack Obama, Obama, Kanishka Singh, Jonathan Oatis, Grant McCool Organizations: India’s, U.S, White, REUTERS, Indian, State Department, Rights, Biden's Democratic Party, Bharatiya Janata Party, BJP, Hindutva, U.S . Congress, World Press, 161st, CNN, Thomson Locations: Washington , U.S, India, China, Washington, Cortez, Karnataka

☆ Factbox: Flurry of US-India deals on AI, defense as Biden, Modi meet
▼ + stars: | 2023-06-22 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +4 min

The following is a roundup of the major announcements:VISASThe Biden administration will make it easier for Indians to live and work in the United States. The United States intends to open new consulates in Bengaluru and Ahmedabad. India is opening a new consulate in Seattle this year and will soon announce two new consulates in the United States. The MQ-9Bs will be assembled in India, a joint statement said, and U.S. manufacturer General Atomics will also establish new facility in India. ADVANCED COMPUTINGIndia and the United States established a Joint Indo-U.S. Quantum Coordination Mechanism to facilitate joint research between the public and private sectors across both countries.

Persons: Narendra Modi, Joe Biden, Biden, Katherine Tai, Vikram Solar, Electric's, General Atomics, Atomics, Jarrett Renshaw, Heather Timmons, Grant McCool Organizations: Indian, U.S, The State Department, United, INDIA, Micron Technology, Micron, United States Trade, World Trade Organization, Minerals Security Partnership, European Union, India’s Epsilon Carbon, VSK Energy, JETS, Hindustan Aeronautics Ltd, Indian Air Force, GE Aerospace's, Tejas, GE, Reuters, SPACE, Artemis Accords, NASA, International Space Station, Thomson Locations: Washington, United States, U.S, Bengaluru, Ahmedabad, India, Seattle, Gujarat, US, Colorado, China, SPACE India

[1/2] U.S. President Joe Biden and first lady Jill Biden meet India?s Prime Minister Narendra Modi in Washington, U.S., June 21, 2023. In a rare gesture, Modi has agreed to take questions from reporters with Biden at the White House on Thursday. He has not conducted a news conference since becoming prime minister nine years ago. At the same time, Biden plans to raise human rights concerns with Modi amid worries about democratic backsliding in India. Biden is under pressure by his fellow Democrats to discuss human rights with Modi.

Persons: Joe Biden, Jill Biden, Narendra Modi, Biden, Modi, Modi's, Elon Musk, Musk, Steve Holland, Nandita Bose, Shri Navaratnam Organizations: India's Press, REUTERS, Indian, Washington, Oval Office, White, Senior Biden, United, General Electric Co, U.S . Navy, U.S ., U.S, chipmaker Micron, Modi . Rights, Wednesday, Tesla, Thomson Locations: Washington , U.S, REUTERS WASHINGTON, U.S, Washington, India, China, United States, Australia, Gujarata, backsliding, New York

☆ Biden Welcomes Indian Leader With a 21-Gun Salute
▼ + stars: | 2023-06-22 | by ( Mujib Mashal | Karoun Demirjian | ) www.nytimes.com time to read: +8 min

Mr. Biden celebrated India’s rise with a lavish display of friendship marked by marching bands, honor guards and a 21-gun salute on the South Lawn, to be followed by an Oval Office meeting and a gala state dinner. Mr. Modi agreed to join Mr. Biden in the East Room to meet with journalists and will also address a joint session of Congress in the afternoon. Image The scene on the South Lawn in the morning underscored the rising role of Indian Americans in the United States. Image Mr. Modi suggested the two nations could tackle international challenges in tandem. Credit... Pete Marovich for The New York TimesMr. Biden pointed to the prevalence of Indian Americans in prominent positions.

Persons: Biden, Narendra Modi, Modi, “, ” Mr, ’, Mr, ”, Doug Mills, China’s, Atomics, Biden’s, Alexandria Ocasio, Cortez, “ Modi, Pete Marovich, Kamala Harris, Harris, Harris’s, Erin Schaff, Joshua Bell Organizations: White, “, New York Times, Artemis Accords, International Space Station, General Electric, Hindustan Aeronautics Limited, Boeing, Biden, New York Times “ Equity, United States, ”, Cortez of New York, Twitter, The New York Times, Mr, The New York, Penn Masala, University of Pennsylvania, U.S . Marine Locations: India, United States, Russia, China, U.S, Moscow, Beijing, American, Ukraine, Russian, New York Times India, New Delhi, Cortez of New, portobello, Asian

Mr. Modi agreed to join Mr. Biden in the East Room to meet with journalists and will also address a joint session of Congress in the afternoon. Image The scene on the South Lawn in the morning underscored the rising role of Indian Americans in the United States. Image Mr. Modi suggested the two nations could tackle international challenges in tandem. They considered it a victory that the administration had persuaded Mr. Modi, who famously refuses to hold news conferences, to meet with reporters alongside Mr. Biden, as most major world leaders do when they visit the White House. Credit... Pete Marovich for The New York TimesMr. Biden pointed to the prevalence of Indian Americans in prominent positions.

☆ Biden Plans Lavish Formal Welcome for Modi as He Seeks to Bolster Ties
▼ + stars: | 2023-06-22 | by ( Peter Baker | ) www.nytimes.com time to read: +1 min

Mr. Biden will celebrate India’s rise with a lavish display of friendship marked by marching bands, honor guards and a multigun salute on the South Lawn, weather permitting, to be followed by an Oval Office meeting and a gala state dinner. Mr. Modi agreed to join Mr. Biden in the East Room to meet with journalists and will also address a joint session of Congress in the afternoon. The visit represents the latest move on the geopolitical chess board as Mr. Biden seeks more allies against increasingly aggressive governments in Moscow and Beijing. India, which remained nonaligned during the Cold War, has refused to join the American-led coalition aiding Ukraine in its war against invading Russian forces. And while it shares a certain enmity for China, it has not fully subscribed to Washington’s strategy for dealing with the Asian giant.

Persons: Biden, Narendra Modi, Modi Organizations: White Locations: India, Russia, China, Moscow, Beijing, American, Ukraine, Russian

How India Profits From Its Neutrality in the Ukraine War The Gulf of Kutch in India is home to the world’s largest oil refinery. After Russia invaded Ukraine, tankers laden with Russian oil are an increasingly common sight along this inlet of northwestern India. China and India are buying so much Russian oil now that Moscow is selling more crude than it was before it invaded Ukraine. Russian crude shipments in the Gulf of Kutch this year Total barrels shipped between through May 2023. In December, S. Jaishankar, India’s foreign minister, was asked in Parliament about India’s decision to buy Russian crude.

Persons: Narendra Modi, Modi, Biden, Ukraine Price, —, Mukesh Ambani, India’s, Copernicus, ” Organizations: New York Times, Western, Ukraine, International Energy Agency, European Union, Argus Media, Jamnagar, Reliance Industries, Nayara Energy, Rosneft, Port, Southeast, Center, Research, Energy, Clean, United Arab Emirates, Modi government’s Locations: India, Ukraine, Kutch, Russia, SynMax, United States, Europe, Moscow, West, India China, China, Kpler, East, Jamnagar, Gujarat State, Russian, Gulf, Pipeline, Panipat, Mundra, Vadinar, Jamnagar Port Vadinar Refinery Jamnagar, Port, Nayara, Southeast Asia, Africa, Finland, Turkey, Singapore, Sikka, Asia Europe

[1/2] U.S. President Joe Biden and first lady Jill Biden meet India?s Prime Minister Narendra Modi in Washington, U.S., June 21, 2023. In a rare gesture, Modi has agreed to take questions from reporters with Biden at the White House on Thursday. Modi has not conducted a news conference since becoming prime minister nine years ago and his visit has drawn attention to concerns over human rights in India. Washington wants India to be a strategic counterweight to China and sees India as a critical partnership. Biden is under pressure from his fellow Democrats to discuss human rights with Modi.

Persons: Joe Biden, Jill Biden, Narendra Modi, Biden, Modi, Representatives Alexandria Ocasio, Ilhan Omar, Rashida, Cortez, Elon Musk, Musk, Steve Holland, Nandita Bose, Shri Navaratnam, Heather Timmons, Sharon Singleton Organizations: India's Press, REUTERS, Indian, Washington, Oval Office, White, Senior Biden, United, General Electric Co, GE, Hindustan Aeronautics Ltd, U.S . Navy, U.S ., U.S, chipmaker Micron, Representatives, Rights, Wednesday, Tesla, Thomson Locations: Washington , U.S, REUTERS WASHINGTON, U.S, India, Washington, China, United States, Australia, Gujarat, The U.S, backsliding, Cortez, New York

A source previously told Reuters that Musk would brief Modi on plans to set up a manufacturing base in India. "He (Modi) really cares about India because he's pushing us to make significant investments in India, which is something we intend to do," Musk told ANI. Executives of Tesla visited India and held talks with Indian bureaucrats and ministers last month on establishing a manufacturing base for cars and batteries in India. U.S. companies need to reduce reliance on China as a manufacturing base in the face of tensions between Washington and Beijing. If we don't obey local government laws, we will get shut down...," Musk told reporters on Tuesday.

Persons: Elon Musk, Narendra Modi, Modi, Musk, Tesla, Jack Dorsey, Hyunjoo Jin, Shivangi Acharya, Aftab Ahmed, Aditya Kalra, Aditi Shah, Tanvi Mehta, Conor Humphries, Angus MacSwan, Mark Heinrich, Cynthia Osterman, Kim Coghill Organizations: Reuters, Tesla, Twitter, Thomson Locations: United States, India, U.S, China, Washington, Beijing

☆ Opinion: Biden is taking a calculated risk on India’s Modi
▼ + stars: | 2023-06-21 | by ( Opinion Frida Ghitis | ) edition.cnn.com time to read: +7 min

Indeed, Biden will likely be accused of hypocrisy for playing down issues of human rights and democracy erosion under Modi, both accusations that Modi claims are false. Indian Prime Minister Narendra Modi and US President Joe Biden meet at the Oval Office, in September 2021. Though Modi’s administration denies it, human rights organizations say discrimination against Muslims has worsened under Modi and his Hindu nationalist Bharatiya Janata Party. Officials say Biden will raise the issue of India’s human rights record and democracy backsliding, but it’s likely they will be downplayed. After all, putting human rights publicly at the heart of relations with Saudi Arabia did little more than open the region’s door to China.

Persons: Frida Ghitis, Narendra Modi, Modi, Joe Biden, Biden, Sarahbeth Maney, Rahul Gandhi, “ Modi, Gandhi, It’s, “, Vladimir Putin, State Anthony Blinken, ” Biden, Facebook Modi – Organizations: CNN, Washington Post, Politics, Indian, Frida Ghitis CNN, United Nations, White House, White, Bharatiya Janata Party, Journalists, Freedom House, State, Twitter, Facebook, Capitol Locations: United States, India, France, South Korea, Washington, Gujarat, Ukraine, China, Australia, Japan, Russia, Saudi Arabia, Pacific, New York

☆ Legendary emerging markets investor Mark Mobius — who's known for his bullish views on China — is now setting his sights on India
▼ + stars: | 2023-06-21 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Legendary emerging markets investor Mark Mobius is bullish on India. He told Bloomberg that India — whose GDP growth hit 7.2% in the last year — is the "real future." "To me, India is the real future," Mobius, the cofounder of Mobius Capital Partners, told Bloomberg on Tuesday. Mobius told the news outlet he wasn't put off by a short-seller report targeting the Adani conglomerate earlier this year. "I was at the Expo in Dubai and one of the boy bands was entertaining and it's an Arab audience and they all knew the words," Mobius told Bloomberg.

Persons: Mark Mobius, He's, —, China, Mobius, wasn't, he's wasn't Organizations: Bloomberg, India, Service, Mobius Capital Partners, Fox Business, HSBC, South China Morning Post Locations: India, Korea, China, Taiwan, Beijing, Shanghai, Dubai

☆ India's Modi is on a landmark visit to the U.S. Here's what to expect
▼ + stars: | 2023-06-21 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +10 min

"This is a very important visit, it is as much about India reaching out to the U.S., as it is about the U.S. reaching out to India," Pant said. Energy: Reliance on Russian oilAlthough India's purchase of Russian weapons could fall, the same can't be said for oil. When Western nations imposed sanctions on Russian oil as a result of the unprovoked war in Ukraine, India doubled down on its purchases. Russian oil currently accounts for almost 20% of India's annual crude imports, a significant increase from just 2% in 2021, Reuters reported. But India has continued to buy cheap Russian oil since and continues trading with the country despite global sanctions on the Kremlin.

Persons: Joe Biden, Narendra Modi, Harsh, Pant, Biden, Emmanuel Macron, Yoon Suk, Aamer, Vladimir Putin, Alexandr Demyanchuk, Modi, Manjari Miller, Lisa Curtis, Curtis, Karthik Nachiappan, Ashley Tellis, Amit Ranjan, India, Ranjan, —, Tesla, Elon Musk, Tim Cook, Google's Sundar Pichai, Satya Nadella, Raj Subramaniam Organizations: Indian, White House, Getty, U.S, Observer Research Foundation, South, Asia Society Policy Institute, CNBC, Kremlin, Reuters, Shanghai Cooperation Organization, Afp, India's Ministry of Defense, Council, Foreign Relations, NATO, Pacific Security, Center, New, New American Security, Carnegie Endowment, International Peace, Institute of South Asian Studies, National University of Singapore, Energy, Reliance, NUS Institute of South Asian Studies, Technology, China Partnerships, Emerging Technology Locations: Washington ,, India, U.S, Delhi, South Asia, Russia, Ukraine, Samarkand, Pakistan, New American, China, United States, Asia, New York

CNN —Welcoming Indian Prime Minister Narendra Modi to the White House this week for a state visit – the most elevated form of American diplomacy – will require President Joe Biden to make certain trade-offs. Yet Modi and India, the world’s largest democracy, also represent a lynchpin in Biden’s strategy in Asia. That, according to officials, was the rationale behind inviting Modi for a state visit, only the third of Biden’s presidency so far. The two leaders will hold a joint news conference – something virtually every state visit over the past two decades has featured – but that was only agreed upon after lengthy, delicate negotiations between the two sides. “We’re just grateful that Prime Minister Modi is going to be participating in a press event at the end of the visit.

Persons: Narendra Modi, Joe Biden, Modi, He’s, India’s, Biden, “ We’re, John Kirby, Jake Sullivan, New Delhi’s, ” Sullivan, “, Barack Obama, Xi Jinping, Donald Trump, Howdy Modi, Emmanuel Macron, Rahul Gandhi, Modi’s, he’s, Pramila, Sen, Chris Van Hollen, Jayapal, ” Modi, Rashida, Ilhan Omar, Alexandria Ocasio, Sullivan, ”, It’s, Russia can’t, Xi, ” Biden Organizations: CNN, Indian, White, Office, National Security, Indian Embassy, White House, Trump, Bharatiya Janata Party, BJP, Rep, Democrat, Maryland Democrat, Reps, State Department Locations: India, Asia, China, Beijing, Ukraine, New, United States, America, Houston, Ahmedabad, Gujarat, Washington, Maryland, Alexandria, Cortez, Russia

☆ Musk to brief Modi on Tesla's India investment plans in U.S. meeting
▼ + stars: | 2023-06-20 | by ( Shivangi Acharya | ) www.reuters.com time to read: +2 min

June 20 (Reuters) - Tesla (TSLA.O) chief executive Elon Musk will directly brief Indian Prime Minister Narendra Modi on plans to set up a manufacturing base there, a source with direct knowledge said. Executives of the U.S. automaker visited India and held talks with Indian bureaucrats and ministers last month on establishing a manufacturing base for cars, and also to make batteries in India. Musk will discuss investment plans and outlook with Modi, the source said, describing the planned discussion as a "high-level meeting about India's economic potential". "Tesla has very strong plans for India, including looking at manufacturing," the person added. Tesla last year shelved its India entry plans due to high import tax structures, but has renewed talks in recent weeks by sharing plans with Indian officials about a manufacturing base there, which India has long sought.

Persons: Elon Musk, Narendra Modi, Musk, Modi, Tesla, Jack Dorsey, Shivangi Acharya, Aftab Ahmed, Aditya Kalra, Aditi Shah, Hyunjoo Jin, Conor Humphries, Angus MacSwan, Mark Heinrich Our Organizations: Indian, U.S ., Apple, Twitter, Reuters, Thomson Locations: United States, India, Indian, U.S, China, Washington, Beijing

NEW DELHI/PARIS, June 20 (Reuters) - Record plane orders by India's top two carriers show the country's untapped potential for air travel and its rise as an aviation superpower, but recent airline failures and rows over regulations suggest progress may not be smooth. A day later, rival Air India firmed up an order for 470 Airbus and Boeing (BA.N) aircraft that, until Monday, had been the industry leading plane deal. LEASING CONCERNSBut while the opportunity in India is big, so are the risks, says Ameya Joshi, an independent aviation analyst. Leasing companies warn that restrictions on repossessing their assets in case of defaults will drive up costs for all Indian airlines - even for IndiGo and Air India. It will eventually help Indian airlines by lowering risk and moderating lease rental costs," said Joshi.

Persons: India's, Jyotiraditya Scindia, planemakers, Ameya Joshi, Joshi, Aditi Shah, Tim Hepher, Joanna Plucinska, Mark Potter Organizations: NEW, Paris, Airbus, Air India, Boeing, Air, CAPA India, planemakers, IndiGo, lessors, Thomson Locations: NEW DELHI, PARIS, Air India, India, New Delhi, outdoing U.S, Paris

☆ Elon Musk scheduled to meet Indian Prime Minister Modi on Tuesday
▼ + stars: | 2023-06-20 | by ( Seema Mody | ) www.cnbc.com time to read: +1 min

Tesla CEO Elon Musk is scheduled to meet India's Prime Minister Narendra Modi today in New York during Modi's visit to the United States, according to two sources familiar with the situation. Musk and Modi are expected to discuss Tesla's ambitions in the country, setting up a manufacturing base and possible incentives for battery production. Tesla has discussed operating in India in the past, but so far hasn't reached an agreement there. Tesla's largest manufacturing base outside the U.S. is in China, and it's also working on a major facility outside Berlin. While India is widely seen as a growth market for the broader automotive industry, the International Energy Agency projects electric car sales still represent a small share of the global market.

Persons: Elon Musk, Narendra Modi, Modi, Tesla, it's Organizations: India's, Tata Motors, Mahindra, Ola, EV, International Energy Agency Locations: New York, United States, India, U.S, China, Berlin, Mexico, Europe

The new rule highlights how governments are reassessing their reliance on India's $42 billion pharmaceutical industry since the contamination came to light last year. India's industry supplies nearly half of the pharmaceuticals used in Africa. In April, India’s government said its officials had held meetings in Africa to ensure its drug exports did not suffer after at least 70 children died in Gambia after ingesting the cough syrup last year. "Quntrol shall conduct document verification, physical inspection of the consignment and sampling, for laboratory testing for each shipment," the letter said. Since June 1, India has made tests mandatory for all cough syrups before they are exported.

Persons: India’s, Janneh Kaira, Rajeev Singh Raghuvanshi, Raghuvanshi, Krishna N, Aurora Ellis Organizations: Reuters, Medicines Control Agency, MCA, Quntrol Laboratories, Bank, World Health Organization, Thomson Locations: DELHI, Gambia, India, Africa, Mumbai

☆ India demonstrates naval strength with dual aircraft carrier exercise
▼ + stars: | 2023-06-15 | by ( Brad Lendon | ) edition.cnn.com time to read: +5 min

The Indian aircraft carriers INS Vikramaditya and INS Vikrant lead combined operations in the Arabian Sea. Sanjay Atri/Indian NavyUpon Vikrant’s commissioning last year, India joined only the United Kingdom and China in commissioning a domestically built aircraft carrier in the previous three years. It has operated two aircraft carriers on two previous occasions, between 1987 and 1997, and between 2013 and 2017. But even with the advancements demonstrated by the dual-carrier operation, India’s carrier program still has question marks, said Childs from IISS. It would certainly suggest that the Indian Navy could do with more carrier aircraft,” Childs said.

Persons: CNN —, ”, Nick Childs, Vikramaditya, INS, “, India’s, Vikrant, Sanjay Atri, Collin Koh, ” Koh, Carl Schuster, ” Schuster, USS Nimitz, Ronald Reagan, Schuster, Childs, ” Childs Organizations: CNN, Analysts, United States Navy, Indian Navy, International Institute for Strategic Studies, Rajaratnam, of International Studies, Liberation Army, PLA, Navy, PLA Navy, US Navy, Indian Navy India, Australia –, Malabar, USS Locations: India, Russia, United Kingdom, China, Singapore, Soviet, Liaoning, Shandong, Fujian, Hawaii, ”, United States, Japan, Australia, Philippine, IISS

NEW DELHI, June 15 (Reuters) - India's defence ministry has approved the procurement of U.S.-made armed MQ-9B SeaGuardian drones, sources told Reuters on Thursday. India will buy 31 drones made by General Atomics worth slightly over $3 billion, one of the sources said. India’s defence ministry did not respond to a request for comment. The defence ministry's initial clearance for the procurement comes just days before Prime Minister Narendra Modi leaves for a state visit to the U.S. next week. The U.S. government approved the sale of 30 drones to India more than two years ago, but the Indian defence ministry had been sitting on the decision.

Persons: General Atomics, Narendra Modi, Joe Biden, Biden, Jake Sullivan, Ajit Doval, Subrahmanyam Jaishankar, Modi, Lloyd Austin, Krishn Kaushik, Jan Harvey Organizations: Reuters, U.S, Modi, . National, Modi's, Thomson Locations: DELHI, U.S, India, China, Pakistan, New Delhi, Delhi, Russia

☆ How India’s deadly train accident affected poorest passengers the most
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +6 min

On the Howrah they were the farthest from the engine, and were hit by the derailed Coromandel Express carriages. Graphic shows the sequence of coaches behind the engine on the Coromandel Express and Howrah Superfast Express. On the Coromandel Express, the engine is closely followed by non-air conditioned coaches, including three unreserved coaches. Deaths and injuries in Indian railway accidents Graphic shows the number of deaths and injuries in Indian railway accidents annually since 2001. Drone footage shows aftermath of train crash in the Indian state of Odisha Drone footage shows aftermath of train crash in the Indian state of Odisha | ReutersThe site of the accident is rural.

Persons: Bahanaga, Sandeep Mathur, Long, Narendra Modi Organizations: Coromandel, Reuters, Indian Railways, Commission of Railway Safety, Railways, CRS, Superfast Express, Express, Railway Ministry Locations: Chennai, Odisha, Balasore, Indian, Kolkata, Bengaluru, India, Coromandel, Howrah, Bihar, Odisha’s Balasore

☆ The scarcity of water is emerging as a global economic threat. With China and India looking the most at risk
▼ + stars: | 2023-06-13 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +6 min

Ghosh warned that water scarcity must not be viewed as a sectoral issue, but one that "transcends the entire economy." Asian economies "must understand that it is a regional common good and it is in their own interest to mitigate the risks that come their way in order to prevent the economic shocks that severe water scarcity will impose," he said. India, now the world's most populous nation, will be the hardest hit from water scarcity. "Water scarcity is not particularly problematic to these industries because a lot of the water can be recycled. The Gezhouba dam water conservancy project of the Yangtze River after heavy rain in Yichang, Hubei Province, China.

Persons: Ritesh Shukla, Arunabha Ghosh, It's, Ghosh, Shanshan Wang, Wang, Wayne Middleton, Arup Organizations: Getty, Council, Energy, CNBC, World Bank, Lowy Institute, Arup, Visual China, Getty Images, Water, Future Publishing Locations: Peth, India, China, Asia, Philippines, Singapore, Kunming, Yunnan Province, Getty Images India, Taiwan, Yichang, Hubei Province

☆ Sony’s India deal episode hits fresh cliffhanger
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, June 13 (Reuters Breakingviews) - Sony's (6758.T) Indian unit keeps running into fresh plot twists. The deal, in the works since late 2021, has already overcome multiple hurdles. Zee has weathered shareholder calls for a rejig of the company’s board and from creditors to declare it insolvent. After all, it is a strategic combination designed to take on Disney (DIS.N), Reliance Industries (RELI.NS), Netflix (NFLX.O) and others. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Punit Goenka, Subhash Chandra, Goenka, Shritama Bose, Una Galani, Thomas Shum Organizations: Reuters, Zee Entertainment, Securities, Exchange Board, India, Sony, Disney, Reliance Industries, Netflix, Zee, Twitter, Brookfield, Thomson Locations: MUMBAI, London, Teck, China

☆ Rupee likely higher; awaits pivotal US inflation data, eyes yuan
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, June 13 (Reuters) - The Indian rupee is expected to open slightly higher on Tuesday ahead of key U.S. inflation data, which analysts reckon may prove instrumental in the Federal Reserve's decision on interest rates. Non-deliverable forwards indicate rupee will open at around 82.40 to the U.S. dollar compared with 82.43 in the previous session. India's inflation was positive for the rupee "on the margins" and "now let's see how U.S. data plays out", the trader added. The U.S. inflation data is due later in the day, with economists polled by Reuters projecting a 0.4% on-month increase in the core inflation rate. The dollar index was barely changed at near 103.50 while the 2-year U.S. yield dropped to 4.55%.

Persons: Nimesh Vora, Dhanya Ann Thoppil Organizations: U.S, People's Bank of, Reserve Bank of India, Reuters, ANZ, Brent, Thomson Locations: MUMBAI, People's Bank of China, U.S

☆ Investors are eyeing China's neighbors as the recovery from 'zero-Covid' slows
▼ + stars: | 2023-06-12 | by ( Jihye Lee | ) www.cnbc.com time to read: +8 min

Bloomberg | Bloomberg | Getty ImagesChina's lackluster economic recovery since emerging from strict "zero-Covid" lockdowns has caused weaker sentiment toward the country, prompting investors to look for alternative options — like its near neighbors. Higher targets for JapanForeign investors have undoubtedly been key in driving the Japanese market, maintaining the highest levels the Nikkei has seen since 1990. During the same period last year, foreign investors had sold a net 1.73 trillion yen approximately. Wall Street banks including Morgan Stanley and Societe Generale are among those that are optimistic on Japanese stocks, holding "overweight" positions. Upside for Korea tech stocksSouth Korea is another market closely watched as concerns over China's recovery linger.

Persons: Goldman, Andrew Tilton, Berkshire Hathaway's Warren Buffett, India's, Goldman Sachs, Tilton, Morgan Stanley, ROE, Mike Wilson, we've, Price, Goldman's Tilton, Rhee Chang, Nomura, Chloe Andrieu, Pranjul Bhandari, Bhandari Organizations: Bloomberg, Getty, Asia, Pacific, Japan Foreign, Nikkei, Japan's Ministry of Finance, Societe Generale, Equity, U.S, UBS Global Wealth, U.S ., UBS, The Bank of, CNBC, Citi, AFP, Afp, Korea Financial Investment Association, South Korean, Fitch, Ben Advisors Locations: Macau, China, Japan, South Korea, India, Goldman Sachs, Berkshire, South, Shanghai, Shenzhen, Wall, Korea, Asia, The Bank of Korea, Fuyang, China's, Anhui, Indonesia

☆ India predicted to outshine China as Asia remains a bright spot for global growth
▼ + stars: | 2023-06-09 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

In its latest global economic outlook report, the OECD predicted India, China and Indonesia would top gross domestic product projections for 2023 and 2024. The OECD added that looser monetary policy in the second half of next year will help household spending momentum return. The report added that it expects OECD countries' average headline inflation to fall to 6.6% this year, after peaking at 9.4% in 2022. 'Fragile' improvementStill, the OECD warned the global economic recovery remains fragile as central banks continue to tighten monetary policy, which could lead to stress in financial markets. Asia remains brightWhile the global economy could slow down further, Asia is expected to remain a bright spot as regional inflation is expected to remain "relatively mild," OECD says.

Persons: Rashtrapati, Clare Lombardelli, Lombardelli, David Malpass Organizations: Rashtrapati Bhavan, Organization for Economic Cooperation, Development, OECD, India, World Bank Locations: India, New Delhi, Kriangkrai, China, Indonesia, Argentina, Turkey, United States, Ukraine, Asia, Japan

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