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India plans to cut oil imports from Iran, say officials

India is looking at slashing oil imports from Iran, and replacing them with more purchases from Saudi Arabia and Kuwait after US re-imposed sanctions on the Persian Gulf nation, government and industry officials said on Thursday. While a final view on US asking India and China to cut Iranian oil imports has not yet been taken, the petroleum ministry has asked refiners to tread cautiously and start looking at alternatives, they said. Bringing down imports to zero, as desired by the US, may however not be feasible, officials said. The…

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US PIPS INDIA AS TOP GREENFIELD FDI INVESTMENT DESTINATION: REPORT

The US has surpassed India to become the top destination for greenfield FDI investment in 2017, says a report. The number of greenfield FDI projects in India during the year fell sharply by 21 per cent to 637, said the fDi Report 2018 compiled by FDI Intelligence, a division of The Financial Times Ltd. India had maintained the numero uno slot in greenfield FDI investment in 2015 and 2016. However, in 2017, the US reclaimed the spot from India, recording $87.4 billion of announced Foreign Direct Investment (FDI). In the…

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Watsa Shuns China as Fairfax Looks for Investment in India, U.S.

(Bloomberg) — Prem Watsa, the billionaire head of Fairfax Financial Holdings Ltd., sees plenty of opportunities for investment in the U.S. and his native India. He’s less interested in the other Asian powerhouse. “In China, we are less invested,” Watsa said in an interview with BNN Bloomberg Television Friday. “We like democracy. We like business-friendly policies.” Watsa, who emigrated from India 46 years ago, is most excited about the opportunities being created there due to the policies implemented by Prime Minister Narendra Modi. “He’s very business friendly and he’s got a great…

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Women’s Day: Air India, Vistara, SpiceJet to operate all-women crew flights

Air India Express, Vistara, SpiceJet and Air India are among the airlines whose flights will feature an all-women crew on Thursday to celebrate International Women’s Day. Photo: Ramesh Pathania/Mint New Delhi: Air India Express, Vistara, SpiceJet Ltd and Air India Ltd are among the airlines whose flights will feature an all-women crew on Thursday to celebrate International Women’s Day. Eight international flights of Air India Express would be operated with all-women crew. “All women-crew flights will take off from Kochi, Kozhikode, Thiruvananthapuram, Chennai, Mangalore, Mumbai and Delhi on Thursday,” the airline…

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We are facing a silent epidemic. ‘Disturbingly high rates of diabetes’ found in India

India is facing an epidemic of diabetes and high blood pressure, often called “silent killers” because they lead to heart disease, said a report today involving more than 1.3 million people. The rate of diabetes in India is over 6%, while around one quarter of people have high blood pressure, said the first nationally representative figures on the topic, published in the Journal of the American Medical Association (JAMA) Internal Medicine. While these rates are lower than the United States and China, experts say a combination of widespread tobacco use,…

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Xiaomi Says It Shipped 9.2 Million Smartphones in India Last Quarter

HIGHLIGHTS Xiaomi shipped 9.2 million smartphones in Q3 2017 This is a record for the Chinese company in the country Xiaomi Redmi Note and Redmi 4 are the top selling smartphones Xiaomi has announced that it shipped 9.2 million smartphones, a record number of units, in India in Q3 2017. The announcement was made by Manu Kumar Jain, Vice President Xiaomi and Managing Director Xiaomi India in a tweet. Jain also shared a piece of trivia about Xiaomi smartphones shipments in the country. “We started with a humble beginning of…

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