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"India is not keen to discuss or back any additional sanctions on Russia during the G20," said one of the officials. "The existing sanctions on Russia have had a negative impact on the world." Japan's finance minister said on Tuesday that financial leaders of the Group of Seven (G7) nations will meet on the sidelines of the G20 meeting to discuss measures against Russia. "Russia themselves want to discuss the economic impact of sanctions." However, neither the Russian finance minister nor the central bank chief were expected to attend the meeting and they will be represented by their deputies.

Finance ministers and central bank chiefs from G20 nations will join the meeting on Friday. The meeting in the Nandi Hills summer retreat is the first major event of India's G20 presidency and the war in Ukraine is likely to feature prominently during the proceedings. The G20 finance ministers and central bank chiefs are also expected to discuss unblocking debt restructuring for distressed economies that have been badly hit by the COVID-19 pandemic and the war in Ukraine. U.S. Treasury Secretary Janet Yellen and German Finance Minister Christian Lindner will be attending the meetings and are expected to press China to "quickly deliver" on debt relief for low and middle income countries. However, neither the Russian finance minister nor the central bank chief were expected to attend the meeting and they will be represented by their deputies.

☆ 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.

☆ Pakistan hikes petrol price by 22.20 rupees a litre - finance ministry
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +1 min

Feb 16 (Reuters) - Pakistan has hiked the price of petrol by 22.20 rupees ($0.0835) a litre to 272 rupees ($1.02) effective on Thursday because of the plummeting value of the country's currency, the finance ministry said in a statement. Pakistan laid a supplementary finance bill before parliament on Wednesday, proposing to raise the goods and services tax (GST) to 18% from 17% to help raise 170 billion rupees ($639.70 million) in extra revenue during the fiscal year ending in July. The finance bill also proposed to raise taxes on luxury items to 25%, while hikes in taxes on first- and business-class air travel, cigarettes and sugary drinks were also proposed. High speed diesel will now cost 280 rupees a litre after an increase of 17.20 rupees, the finance ministry said. ($1 = 265.7500 Pakistani rupees)Reporting by Sudipto Ganguly in Mumbai; Editing by Tom Hogue and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ Indian tax officers search BBC offices for second day, sources say
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +2 min

[1/3] Police officers stand outside a building having BBC offices, where income tax officials are conducting a search, in New Delhi, India, February 14, 2023. REUTERS/Anushree FadnavisNEW DELHI, Feb 15 (Reuters) - Indian tax officers searched the BBC's offices in New Delhi and Mumbai for a second day on Wednesday, two sources said, as controversy swirled over a BBC documentary critical of Prime Minister Narendra Modi's role in deadly riots two decades ago. India's Income Tax Department has declined to comment on the reason for the search. The government says the documentary, "India: The Modi Question", aims to push what it calls a discredited narrative, arguing that it is "biased, lacked objectivity" and showed a "continuing colonial mindset". It said on Tuesday it was cooperating with Indian tax officials, and hoped to have the situation "resolved as soon as possible".

[1/5] Police officers stand outside a building having BBC offices, where income tax officials are conducting a search, in New Delhi, India, February 14, 2023. The government last month dismissed the documentary, "India: The Modi Question", as propaganda and blocked its streaming and sharing on social media. The BBC has stood by its reporting for the documentary and said it was cooperating with Indian tax officials. The tax survey relates to transfer pricing rules and alleged diversion of profits. India's Income Tax Department has so far declined to comment on the reason for the search.

☆ Adani crisis: Modi's party has 'nothing to hide', says India home minister
▼ + stars: | 2023-02-14 | by ( Sudipto Ganguly | ) www.reuters.com time to read: +3 min

[1/2] BJP President Amit Shah and Indian Prime Minister Narendra Modi are seen after the election results in New Delhi, India, May 23, 2019. The Adani group has denied the allegations and threatened legal action against Hindenburg. Without referring to Adani, Modi told parliament last week that the "blessings of 1.4 billion people in the country are my protective cover and you can't destroy it with lies and abuses", as opposition lawmakers chanted "Adani, Adani". Adani Power (ADAN.NS) and Adani Green Energy (ADNA.NS) fell too in a wider Mumbai market (.NSEI) that was up slightly. India's Economic Times daily reported on Tuesday that Adani group executives had been holding negotiations since last week with Abu Dhabi's International Holding Corp (IHC) for capital infusion into Adani Enterprises or other group entities.

BENGALURU, Feb 13 (Reuters) - India wants to more than triple annual defence exports to $5 billion by 2024/25 from $1.5 billion currently as it looks to ramp up domestic manufacturing, Prime Minister Narendra Modi said on Monday while inaugurating the Aero India show. "Today, India is not just a market for defence companies, it is also a potential defence partner," Modi said in his speech at the show. "I call on India's private sector to invest more and more in the country's defence sector." India, for decades one of the world's biggest importers of defence equipment, now exports to 75 countries, he added. India's airlines are also expanding, with Tata Group's Air India expected to announce a potentially record deal to buy nearly 500 jets from Airbus and Boeing, worth more than $100 billion at list prices.

BENGALURU, India, Feb 13 (Reuters) - Boeing Co (BA.N) plans to invest about $24 million in India to set up a logistics centre for airplane parts, Salil Gupte, president of the local unit told Reuters on Monday, boosting its footprint in the country amid a large plane order. Boeing's share includes 220 planes split as 190 737 MAX narrowbody jets, 20 787 widebodies, and 10 777Xs. Boeing forecasts India's carriers will need 2,200 new planes over the next 20 years, and with narrowbody planes making up the bulk Gupte expects that to be a focus area for Boeing. "As the middle-class grows and as India leads the world economic growth, you will see more and more people fly. That means we need to ensure our customers have the narrowbody aircraft they need to serve this market," he said.

☆ Pakistan, IMF agree on more talks, delaying bailout
▼ + stars: | 2023-02-10 | by ( Ariba Shahid | ) www.reuters.com time to read: +2 min

KARACHI, Feb 10 (Reuters) - Pakistan and the International Monetary Fund have agreed to continue talks on a deal, delaying the disbursement of $1.1 billion in funding critical to keeping the South Asian economy afloat. "Virtual discussions will continue in the coming days," IMF Pakistan Mission Chief Nathan Porter said in a statement, adding that considerable progress had been made. To release the funds, the IMF needs to reach a staff-level agreement with Pakistan, which then needs to be approved by the IMF's head office in Washington. The money is necessary to prevent Pakistan from defaulting on external payment obligations, and an IMF deal paves the way for other organisations and governments to provide funds, analysts say. In addition to the stalled tranche, $1.4 billion remain of the $6.5 billion bailout programme, which is due to end in June.

☆ Pakistani PM approves IMF deal, Geo reports, without giving details
▼ + stars: | 2023-02-09 | by ( Ariba Shahid | ) www.reuters.com time to read: +2 min

REUTERS/Faisal MahmoodKARACHI, Feb 9 (Reuters) - Pakistani Prime Minister Shahbaz Sharif has approved a deal with the International Monetary Fund (IMF) and all matters related to the bailout programme are settled, broadcaster Geo said on Thursday, citing sources. To release the funds, the IMF needed to reach a staff level agreement with Pakistan. Analysts say the money is necessary to prevent Pakistan from defaulting on external payment obligations, and an IMF deal also paves the way for other organisations and governments to provide funds. The IMF mission arrived in Pakistan late last week for talks aimed at releasing an overdue tranche of $1.1 billion from the bailout programme, leaving $1.4 billion remaining. The fiscal adjustments demanded by any deal, however, are likely to fuel record high inflation, which hit 27.5% year-on-year in January, analysts say.

☆ India finds Lithium deposits for first time in country
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: 1 min

NEW DELHI, Feb 9 (Reuters) - The Geological Survey of India (GSI) said on Thursday it has found lithium deposits for the first time in the country. India has lately been looking to strengthen its supply of key minerals, including lithium, that will be critical for furthering its electric vehicle plans. The 5.9 million tonnes of Lithium inferred resources have been established in the Reasi district of the northern union territory of Jammu and Kashmir, the GSI said in a statement. Reporting by Sakshi Dayal; editing by Sudipto GangulyOur Standards: The Thomson Reuters Trust Principles.

The central bank said that its policy stance remains focused on the withdrawal of accommodation, with four out of six members voting in favour of that position. Reuters GraphicsThe monetary policy committee (MPC), comprising three members from the central bank and three external members, raised the key lending rate or the repo rate (INREPO=ECI) to 6.50% in a split decision. We have to remain unwavering in our commitment to bring down CPI headline inflation," RBI Governor Shaktikanta Das said, while announcing the committee’s decision. In a poll conducted ahead of the federal budget on Feb. 1, more than three-quarters of economists, 40 of 52, had expected the RBI to raise the repo rate by 25 bps. Das said that the inflation-adjusted, real interest rate remains below the pre-pandemic levels and liquidity remains surplus, even though it is lower than during the pandemic.

☆ Sri Lanka completing pre-requisites for IMF aid - President
▼ + stars: | 2023-02-04 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

COLOMBO, Feb 4 (Reuters) - Sri Lanka is completing the pre-requisites to unlock a $2.9 billion bailout from the International Monetary Fund (IMF) and expects rapid approval from the global lender, President Ranil Wickremesinghe said on Saturday. "We are successfully completing the difficult stage required to get support from the International Monetary Fund. We expect to get their consent without delay," Wickremesinghe said in his address to the nation to mark the 75th Independence Day. Sri Lanka is currently focused on getting financing assurances from key bilateral creditors China and Japan. Sri Lanka's central bank estimates an economic turnaround in the second half of 2023 and inflation to reach single digits by the end of this year.

☆ Pakistan mosque attacker wore police uniform, breached security - police chief
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: 1 min

ISLAMABAD, Feb 2 (Reuters) - Pakistani police have identified the suicide bomber who attacked a mosque in Peshawar this week, the provincial police chief said on Thursday, adding that the attacker had breached security by wearing a police uniform. The attack, which took place on Monday in a heavily fortified area called Police Lines, killed more than 100 people, all but three of them policemen. Moazzam Jah Ansari, police chief of Khyber Pashtunkhwa province where Peshawar is located, told reporters the bomber was part of a "network" and had driven a motorcycle into the area. Reporting by Asif Shahzad, writing by Sudipto Ganguly; editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

☆ India cenbank asks country's banks for details of exposure to Adani group - sources
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: 1 min

NEW DELHI/MUMBAI, Feb 2 (Reuters) - India's central bank has asked local banks for details of their exposure to the Adani group of companies, government and banking sources said on Thursday. The Reserve Bank of India did not immediately respond to a request for comment. The sources were speaking to Reuters and declined to be named because they were not authorised to speak to the media. Shares in Adani group of companies plunged on Thursday after the tycoon Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, citing the need to insulate investors from potential losses. Reporting by Aftab Ahmed and Nupur Anand, writing by Sudipto Ganguly; editing by Miral FahmyOur Standards: The Thomson Reuters Trust Principles.

☆ Pakistan mosque bombing death toll rises to 87
▼ + stars: | 2023-01-31 | by ( Jibran Ahmad | ) www.reuters.com time to read: +1 min

[1/5] Chief of Army Staff (COAS) of Pakistan Asim Munir and Pakistan's Prime Minister Shehbaz Sharif visit an injured, after a suicide blast in a mosque, at a hospital in Peshawar, Pakistan January 30, 2023. Prime Minister's Office/Handout via REUTERSPESHAWAR, Pakistan, Jan 31 (Reuters) - The death toll in the suicide bombing that tore through a mosque in Pakistan rose to 87 on Tuesday, a hospital official said, a day after the one of the biggest attacks in the unstable South Asian nation. The attack occurred in one of the most fortified areas of the northwestern Peshawar city, which houses offices of the police and counter-terrorism departments. Hospital official Mohammad Asim said that 87 people had been killed, and that 57 people were being treated, seven of whom were in critical condition. Pakistani Taliban, known as Tehreek-e-Taliban Pakistan (TTP), an umbrella of Sunni and sectarian Islamist groups, has denied responsibility.

☆ Growth trajectory of Adani Group's underlying businesses not affected - CFO
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: 1 min

NEW DELHI, Jan 30 (Reuters) - The growth trajectory of the underlying businesses of Adani Group has not been affected by the Hindenburg Research report that sparked a $48 billion rout in its stocks, Chief Financial Officer Jugeshinder Singh said on Monday. Speaking to local media, Singh said retail subscription would see "some pull back" in a $2.5 billion secondary share sale of the group's flagship company, Adani Enterprises (ADEL.NS). Reporting by Sudipto Ganguly; Editing by Krishna N. DasOur Standards: The Thomson Reuters Trust Principles.

☆ India's top court to consider cases against block on BBC documentary
▼ + stars: | 2023-01-30 | by ( Arpan Chaturvedi | ) www.reuters.com time to read: +2 min

NEW DELHI, Jan 30 (Reuters) - India's Supreme Court will consider petitions next week against a government order blocking the sharing of clips of a BBC documentary that questioned Prime Minister Narendra Modi's leadership during riots in 2002 in the western state of Gujarat. The Supreme Court will take up the petitions next week, Chief Justice D Y Chandrachud said in court on Monday. A New Delhi-based lawyer, M L Sharma, opposed the government's move in one of the petitions to the Supreme Court. He was exonerated in 2012 following an inquiry overseen by the Supreme Court and a petition questioning his exoneration was dismissed last year. The BBC has said the documentary was "rigorously researched" and involved a wide range of voices and opinions, including responses from people in Modi's Hindu nationalist Bharatiya Janata Party.

[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.

☆ Sri Lanka hopeful of completing debt restructuring in six months, says cenbank chief
▼ + stars: | 2023-01-24 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

COLOMBO, Jan 24 (Reuters) - Sri Lanka is committed to meeting all its debt repayments and is hoping to complete debt restructuring negotiations in the next six months, the country's central bank chief P. Nandalal Weerasinghe said on Tuesday. India last week told the IMF that it strongly supports Sri Lanka's debt restructuring plan. The biggest uncertainty is the timeframe for the debt restructuring. It is only after debt sustainability is assured can Sri Lanka return to a sustainable growth path," he added. Sri Lanka's National Consumer Price Index (NCPI) (LKNCPI=ECI) eased year-on-year to 59.2% in December, after a 65% rise in November, data on Monday showed.

REUTERS/Ruma PaulCOX'S BAZAR, Bangladesh, Jan 24 (Reuters) - Mohammed Ismail says four of his relatives were killed by gunmen at the Rohingya refugee camps in Bangladesh between April and October last year. The group has fought against Myanmar's security forces and some Rohingya say it has been recruiting fighters, often through coercion, in the Bangladesh camps. Ismail, who lives with his parents, wife and brother, says he fears for his life and understands why some Rohingya are fleeing Bangladesh. A FRAUGHT CHOICEReuters spoke with several refugees who returned to the Bangladesh camps after abandoning journeys to Malaysia, via Myanmar, out of trepidation. "People are risking their lives on sea journeys as there is no future here and criminal activities are rising," Aziz said.

☆ Indian university warns against screening of BBC documentary on Modi
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

NEW DELHI, Jan 24 (Reuters) - A top Indian university has warned its students' union of strict disciplinary action if it goes ahead with a planned screening of a BBC documentary on Prime Minister Narendra Modi on Tuesday, saying it might disturb peace and harmony of the campus. Modi was chief minister of Gujarat during the violence in which more than 2,000 people were killed, most of them Muslims. The university administration said on its website it had not given permission for the documentary to be shown. "This is to emphasise that such an unauthorised activity may disturb peace and harmony of the university campus," the university said. The documentary is also scheduled to be screened at various campuses in the southern state of Kerala on Tuesday.

☆ 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.

In November, the State Bank of Pakistan's Monetary Policy Committee unexpectedly pushed up its key rate by 100 bps, meaning it has now raised it by a total of 725 bps since January 2022. The country - struggling after last year's devastating nationwide floods - posted a 24.5% annual inflation rate in January. Although some moderation was seen in inflation in November and December, it remains high and core inflation has been on a rising trend for the last 10 months, the central bank added. The lack of fresh financial inflows and ongoing debt repayments have led to a steady drawdown in official reserves, the central bank said. "The current account deficit narrowed by around 60 percent to $3.7 billion in H1-FY23," the central bank said.

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