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☆ Indian billionaire Gautam Adani was a college dropout. Now he may be too big to fail
▼ + stars: | 2022-10-10 | by ( Diksha Madhok | ) edition.cnn.com time to read: +11 min

Indian billionaire Gautam Adani’s conglomerate had just launched a hostile bid to take over an influential broadcaster in the capital. Rupak De Chowdhuri/ReutersMuch of his fortune is tied up in the sprawling Adani Group, which he founded over 30 years ago. Most of the companies in the Adani empire are held closely by the billionaire, his family and associated firms, including nearly 75% stakes in AEL, Adani Power, and Adani Transmissions. Yet, the Adani Group has continued to raise billions from Indian and foreign banks. CreditSights, a research firm owned by Fitch Group, in August published a report about Adani Group titled “Deeply Overleveraged” in which it expressed strong concerns.

☆ India reintroduced 8 cheetahs after the big cats were wiped out 70 years ago — but some scientists say it's more of a PR stunt than a conservation effort
▼ + stars: | 2022-10-09 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +8 min

Cheetahs are being reintroduced to India after being declared extinct in the country in 1952. The reintroduction effort is aimed at creating a viable population of wild cheetahs. Some experts are critical of the plan, saying it's more like a large "zoo" than a wild population. The reintroduction plan, which is estimated to cost about $11 million, aims to establish a viable, free-ranging population of cheetahs. "The cheetah is a magnificent animal, it's a big magnet for ecotourism," Jhala told National Geographic.

☆ Blackstone converts Indian property to safe haven
▼ + stars: | 2022-10-06 | by ( Una Galani | ) www.reuters.com time to read: +3 min

MUMBAI, Oct 6 (Reuters Breakingviews) - A global downturn could boost demand for Indian real estate. The investor-cum-landlord led by Steve Schwarzman has played a big role in developing a local market for real estate investment trusts. Now it’s preparing to float a collection of glitzy shopping malls in what would be only the country’s fourth publicly traded REIT. Indian real estate trusts outperform U.S. peersFollow @ugalani on Twitter(The author is a Reuters Breakingviews columnist. On Sept. 27, Blackstone raised $325 million from selling an 8.1% stake in Embassy Office Parks REIT, per IFR.

☆ Climate reparations may be ethical, but they aren't the best fix, climatologist says
▼ + stars: | 2022-10-05 | by ( Natalie Tham | ) www.cnbc.com time to read: +5 min

Fida Hussain | Afp | Getty ImagesCalls for climate reparations for poorer countries hit hard by climate change are growing louder after catastrophic floods in Pakistan. "[Climate reparations are] the ethical thing to do," said Friederike Otto, a climatologist at the University of Oxford, "but a more equitable world is much better able to solve the complex crises we deal with. However, though climate reparations appear to be a relatively straightforward solution, their implementation isn't, Otto said. At the same time, for climate reparations to be successful, there needs to be an official classification of weather and climate events and natural hazards, she added. Andrew King, a senior lecturer at the University of Melbourne, is another proponent of climate reparations.

☆ India’s words are anti-war, but New Delhi’s actions are propping up Putin’s regime
▼ + stars: | 2022-10-03 | by ( Rhea Mogul | ) edition.cnn.com time to read: +8 min

New Delhi has repeatedly abstained from votes condemning Russia at the United Nations – providing Moscow with a veneer of international legitimacy. And in August, India participated in Russia’s large-scale Vostok military exercises alongside China, Belarus, Mongolia and Tajikistan – where Moscow paraded its vast arsenal. “There’s a feeling that Putin is pushing India’s limits because in some ways, it’s put itself out on a limb. Mikhail Svetlov/Getty ImagesSuperficially at least, India and China also appear to have similar positions on the Ukraine war. But despite India’s increasing closeness with the West, it is prioritizing the dangers in its own backyard, analysts say.

☆ India's top court grants all women the right to safe abortion
▼ + stars: | 2022-09-29 | by ( ) www.nbcnews.com time to read: +2 min

India’s top court on Thursday upheld the right of a woman to an abortion up to 24 weeks into pregnancy regardless of marital status, a decision widely hailed by women’s rights activists. The right to abortion has proved contentious globally after the U.S. Supreme Court overturned in June its landmark 1973 decision in Roe v. Wade that had legalized the procedure across the United States. “Even an unmarried woman can undergo abortion up to 24 weeks on par with married women,” said Justice D.Y. Chandrachud of India’s Supreme Court, holding that a woman’s marital status could not decide her right to abort. She was referring to the case that led to the U.S. Supreme Court judgment in June.

☆ India's military relationship with Russia isn't going away — it'll 'endure for decades,' analyst says
▼ + stars: | 2022-09-29 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

Russian President Vladimir Putin with Indian Prime Minister Narendra Modi on the sidelines of the Shanghai Cooperation Organization leaders' summit in Samarkand on Sept. 16, 2022. Alexandr Demyanchuk | Afp | Getty ImagesIndian Prime Minister Narendra Modi may have publicly rebuked Russian President Vladimir Putin over the war in Ukraine, but the longstanding friendship between the two countries isn't going away, analysts said. Russian Foreign Minister Sergey Lavrov, for his part, claimed that Russia and India were "friends," a month after Ukraine was invaded. But despite India's apparent change in stance over the war, India still needs Russia, analysts told CNBC. "Russia remains India's most important [military] partner," he added.

NEW DELHI, Sept 29 (Reuters) - India's Supreme Court ruled on Thursday that a woman's lack of marital status could not deny her the choice to abort a pregnancy at any time up to 24 weeks, a decision hailed by women's rights activists. The right to abortion has proved contentious globally after the U.S. Supreme Court overturned in June its landmark decision in Roe v. Wade that had legalised the procedure in the United States. "Even an unmarried woman can undergo abortion up to 24 weeks on par with married women," said Justice D.Y. Chandrachud of India's Supreme Court, holding that lack of marital status could not deprive a woman of the right. The court added that sexual assault by husbands can be classified as marital rape under the MTP law.

India's foreign minister followed up last week at the U.N. Security Council, describing the trajectory of the Ukraine war as "very concerning" and the risk of a nuclear escalation as of "particular anxiety". Moreover, India is worried the war is pushing Russia closer to China, which has fraught relations with New Delhi, the analysts said. "This is countering a narrative that India and China are both doing the same thing – that China is supporting Russia and India, by sitting on the fence, is also supporting Russia," Raghavan told Reuters. India and Russia have had deep relations for decades: Russia accounted for $5.51 billion of the $12.4 billion that India spent between 2018 and 2021 on arms imports. "As the Ukraine conflict continues to rage, we are often asked whose side are we on," he said, again without mentioning Russia.

☆ India’s bond inclusion will be overdue and timely
▼ + stars: | 2022-09-26 | by ( Una Galani | ) www.reuters.com time to read: +4 min

REUTERS/Shailesh AndradeMUMBAI, Sept 26 (Reuters Breakingviews) - A bear market might be a good time to step onto the world stage. India’s sovereign debt is widely expected to be added to the JPMorgan Emerging Market Bond index, tracked by some $220 billion of assets under management. Overall, foreigners own less than 2% of the sovereign market, compared to about 10% in China and over 20% in Indonesia, according to estimates by Morgan Stanley. Inclusion might quickly shepherd over $20 billion of passive funds that track the benchmark, assuming India gets a 10% weighting, matching China and Indonesia. India spread over U.S. bonds is shrinkingFollow @ugalani on TwitterCONTEXT NEWSIndia is expected to be added to JPMorgan’s key emerging market bond index this month, according to multiple analyst and media reports.

NavIC (Navigation with Indian Constellation) and GPS (Global Positioning System) logos are seen in this illustration taken, September 25, 2022. In line with Prime Minister Narendra Modi's drive for self-reliance, India has over the years expanded the use of its regional navigation satellite system called NavIC (Navigation with Indian Constellation). Global Positioning System (GPS), and says NavIC provides more accurate domestic navigation and that its use would benefit the economy. India's IT ministry and the space agency ISRO that are both involved in the project also did not respond. India would not be the first country to push smartphone makers to add support for a native navigation system.

☆ INDIA STOCKS Indian shares seen opening lower on global growth fears
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Francis Mascarenhas/BENGALURU, Sept 26 (Reuters) - Indian shares are expected to fall at the open on Monday, in line with Asian peers, amid renewed worries over economic growth on the back of high-interest rate environment. India's NSE stock futures listed on the Singapore exchange were down 0.9% as of 0205 GMT, while MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 1%. Foreign institutional investors sold net 29 billion rupees worth Indian equities on Friday as per provisional data available with the National Stock Exchange. ** India's Goa Carbon (GOAC.NS) will consider raising funds via issue of equity shares on rights basis. Register now for FREE unlimited access to Reuters.com RegisterReporting by Nallur Sethuraman in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ 'India has a big role to play': New Delhi is trying to turn the country into a chip powerhouse
▼ + stars: | 2022-09-26 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Foundries are facilities that manufacture chips that other companies design. So there aren't many giant Indian chip firms and certainly no leading-edge manufacturing companies. "I have no doubt that India has a big role to play," Kotasthane said. Semiconductor design requires large numbers of skilled engineers and this is where India's strength lies," he added. So now, the next step is the effort to build an ecosystem where there is some Indian IP (intellectual property) by Indian companies," Kotasthane said.

"With the United States raising interest rates, emerging economies have little choice but to hike rates to avoid their currencies from depreciating too much," he said. Asakawa said many Asian emerging economies have sufficient buffers, such as ample current account surpluses and foreign reserves, to weather another crisis. "Some emerging Asian countries could intervene to prevent their currencies from depreciating. Countries like Malaysia put in place capital controls during the Asian financial crisis," Asakawa said. Asian policymakers must also prepare for when volatile market moves destabilise regional economies, he added.

☆ India says Ukraine conflict trajectory, outlook very concerning
▼ + stars: | 2022-09-22 | by ( Krishna N. Das | ) www.reuters.com time to read: +2 min

Stefani Reynolds/Pool via REUTERSNEW DELHI, Sept 22 (Reuters) - India told the U.N. Security Council on Thursday that the trajectory of the Ukraine conflict was very concerning and that the outlook was more so, as New Delhi sharpened its calls for peace. As long-term trade and defence partners, India and Russia have sided with each other for years. India has stepped up purchases of oil and coal from Russia since the Ukraine war began in February. loadingPutin ordered Russia's first wartime mobilisation since World War Two on Wednesday and threatened to use nuclear weapons to defend his country. The United States has been trying to wean India off its decades-old heavy reliance on Russia for military equipment.

☆ U.S. welcomes Modi telling Putin now is 'not an era of war'
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +2 min

U.S. President Joe Biden and India's Prime Minister Narendra Modi hold a bilateral meeting alongside the Quad Summit at Kantei Palace in Tokyo, Japan, May 24, 2022. REUTERS/Jonathan Ernst/File PhotoNEW DELHI, Sept 21 (Reuters) - The United States has welcomed Indian Prime Minister Narendra Modi's comment to Russian President Vladimir Putin that now was not the time for war, New Delhi's sharpest public response to Russia's invasion of Ukraine. Modi had spoken regularly to Putin since the war began in February, seeking dialogue and peace talks, but without publicly condemning the war. On the sidelines of a conference in Uzbekistan on Friday, Modi had told Putin, "Today's era is not an era of war, and I have spoken to you on the phone about this," and added that democracy, diplomacy and dialogue kept the world together. Register now for FREE unlimited access to Reuters.com RegisterReporting by Krishna N. Das; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

☆ Russia's early resilience to sanctions is fading - its economy is on the back foot and Moscow could soon lose its place among the world's energy superpowers.
▼ + stars: | 2022-09-20 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

Today, though, I'm homing in on another front in the global markets story — specifically, Russia. Official customs data showed China spent a record-breaking $8.3 billion importing Russian oil products, gas, and coal in August. "What happens is that [isolationism] reduces the number of products that [Russia] can buy," Jay Zagorsky, a markets professor at Boston University, told Insider. They told Insider the exact books that got them started on the path to building wealth — see their list of four reads here. That's according to Bank of America analysts, who wrote Monday that global markets will remain strained heading into next year thanks to a variety of factors.

☆ A 31,000-year-old Stone Age skeleton reveals the world's oldest limb amputation
▼ + stars: | 2022-09-17 | by ( Bethany Dawson | ) www.businessinsider.com time to read: +3 min

The world's earliest limb amputation — dating back 31,000 years — has been discovered in Borneo. It gives a fascinating insight into the medical abilities of people in the Stone Age. Studies on the skeleton buried in a cave found that, after the surgery, they went on to live for six to nine years. Previously, the earliest recorded amputation was carried out 7,000 years ago on a Neolithic farmer from France. They explained that intensive post-operative care of the patient, including temperature regulation, bathing, wound care, and disinfection, would have been vital for the patient.

☆ China-Russia meeting as Ukraine war rages should remind the U.S. that Putin hasn't lost
▼ + stars: | 2022-09-16 | by ( David A. Andelman | ) www.nbcnews.com time to read: +8 min

Russian President Vladimir Putin might be losing on the battlefield, at least for the moment, but it’s a mistake to count out the master of the Kremlin. It’s not even enough to diminish the Russian leader’s influence in Europe. It’s not even enough to diminish the Russian leader’s influence in Europe, with Sweden and Italy on the precipice of forming new governments that could tilt toward him as well. From left; Russian President Vladimir Putin, Iranian President Ebrahim Raisi and Turkish President in Tehran on July 19, 2022. Will they want their political futures hitched to Putin as the Ukraine war drags further on his image and capabilities?

☆ China and Russia present united front at regional summit despite differences
▼ + stars: | 2022-09-16 | by ( Nectar Gan | Rhea Mogul | ) edition.cnn.com time to read: +8 min

In recent months, China has offered Russia tacit support and stepped up economic assistance to its neighbor, boosting bilateral trade to a record high. But Kewalramani said the SCO could provide a "space (for India) to engage with China and Russia." "Particularly, being on the table while China and Russia are together, because the closer that relationship gets, the trickier it gets for India," he said. Since 2019, Iran, Russia and China have held three joint naval drills amid deepening ties. But some experts say in its current state, the SCO is not really the ideal platform for China and Russia to push that anti-West world order.

☆ The Kohinoor diamond was obtained by the British Empire. Some argue it should be returned to India.
▼ + stars: | 2022-09-12 | by ( Brahmjot Kaur | ) www.nbcnews.com time to read: +6 min

After the death of Queen Elizabeth II last week, online users are calling for the British government to surrender artifacts obtained by the British Empire, including the Kohinoor diamond — one of the most famous diamonds in the world. Conversations about the diamond — also spelled Koh-i-noor — which is part of the British crown jewels, have been trending on social media amid coverage of the queen’s death, with users posting their opinions about the empire — and memes about stealing the diamond back. “The actual histories of British imperialism tell a much different story, one of horrific violence, dispossession, prejudice and significant economic exploitation,” she said. Maharaja Duleep Singh, the son and successor of Maharaja Ranjit Singh, held on to the diamond until the British annexed Punjab in 1849. (The Royal India Company was the royally chartered company formed to exploit trade with East and Southeast Asia and India.)

Britain's Queen Elizabeth II inspects a guard of honor at the Presidential palace in New Delhi during her visit to India in 1997. Queen Elizabeth II meets Indian Prime Minister Narendra Modi at Buckingham Palace in London, England in 2015. “If you don’t see people mourning the death of Queen Elizabeth in India, (it is) because she doesn’t have that connection with the new generation of Indians,” Ravi Mishra said. Queen Elizabeth II meets Indira Gandhi at Hyderabad House in Delhi, India, in 1983. The proposition before this house is the principle of owing reparations … the question is: is there a debt?… As far as I’m concerned, the ability to acknowledge a wrong that has been done, to simply say sorry, will go a far, far, far longer way than some percentage of GDP in the form of aid,” Tharoor said.

☆ Gloves come off in India’s digital content wars
▼ + stars: | 2022-09-05 | by ( Una Galani | ) www.reuters.com time to read: +4 min

MUMBAI, Sept 5 (Reuters Breakingviews) - The gloves are coming off in India’s content wars, and the traditionally cautious Disney (DIS.N) is proving a more ruthless fighter than many had expected. It also will hold digital rights to the ICC games throughout the rest of the year. By selling off some of the rights, Disney might reduce its spend on the ICC by a third or more. The American-owned company will hold onto the streaming rights for its digital platform, Disney+ Hotstar. The ICC said on Aug. 27 that Disney had won the TV and digital rights to events through the end of 2027.

☆ Even as the West tries to wean itself off Russian oil, Moscow has found itself yet another buyer: Myanmar
▼ + stars: | 2022-08-19 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Myanmar is buying Russian oil, which it says is "high-quality" and cheap. This time, Myanmar is joining the line to buy Russian gas and fuel oil, according to Reuters and Bloomberg. He said military chief Min Aung Hlaing sealed a fuel oil deal with Russia during a trip to Moscow in July. Russian fuel oil exports are expected to start arriving in Myanmar in September, Reuters reported, citing local media. Myanmar is the latest in a list of crisis-hit countries — including Sri Lanka and Laos — to actively seek out Russian oil.

The Indian government last year gave a $6 billion contract to state-owned Hindustan Aeronautics Ltd (HIAE.NS) for 83 of the locally produced Tejas jets for delivery starting around 2023 - four decades after it was first approved in 1983. Prime Minister Narendra Modi's government, keen to reduce India's reliance on foreign defence equipment, has also been making diplomatic efforts to export the jets. Britain said in April it would support India’s goal of building its own fighter jets. India currently has a mix of Russian, British and French fighter jets. read moreIndia is looking to ground all its Soviet-era Russian fighter jets, the MiG-21, by 2025, following a number of fatal crashes, the Times of India daily reported last month.

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