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India's industrial output grows slightly ahead of national elections that begin next month

MUMBAI, India - India's industrial production showed an unexpected, if slight, uptick of 0.1 per cent last month, ending a three-month fall, as elections loom in the world's most populous democracy. Figures released Wednesday also showed consumer inflation eased to 8.1 per cent in February, still considered high but a welcome relief from the double-digit levels of a few months ago.

India's exports fall in February but trade gap shrinks

India's merchandise exports fell for the first time in eight months in February, data showed on Tuesday, dampening hopes of an export-led recovery for the flagging economy ahead of national elections. Exports contracted 3.67 percent last month from a year earlier to $25.68 billion, compared with 3.79 percent growth in January, data released by the commerce ministry showed. Despite the export slump and in rare good news for the government, the trade gap narrowed again to $8.13 billion in February from a year earlier and down from $9.91 billion in January, the data showed.

India car sales post first rise since September 2013

Indian car sales rose in February -- the first time in five months -- according to figures released Monday, but a top industry body said it was too early to say the market has finally turned around. The Society of Indian Automobile Manufacturers (SIAM) said domestic car sales increased 1.39 percent to 160,718 units in February from 158,512 units in the same month a year earlier. The rise was helped by introduction of new vehicle models. "It will take some more time to see if the negative trends have reversed," SIAM Director General Vishnu Mathur told reporters.

Essar Energy says no plans to close Stanlow refinery

(Reuters) - Essar Energy Plc <ESSR.L> has no plans to close its Stanlow oil refinery in Britain, the company said on Monday, in response to a newspaper report that the troubled plant is under threat from "uneconomic conditions". Shares of the company fell as much as 4.5 percent on Monday. City A.M., a free newspaper distributed in London's financial district, reported that the future of Britain's second-largest oil refinery was under threat from an influx of refined products from the United States.

Ranbaxy recalls some batches of generic Lipitor in latest quality blow

By Zeba Siddiqui and Kanika Sikka MUMBAI (Reuters) - Indian drugmaker Ranbaxy Laboratories Ltd, reeling under a flurry of regulatory rebukes due to manufacturing quality concerns, has recalled more than 64,000 bottles of the generic version of a cholesterol-lowering drug in the United States after doseage mix-up was detected.

India's Bharti linked with Carrefour in new retail tie-up

Indian mobile giant Bharti said Friday it was scouting for a new partner to replace Walmart in a retail joint venture with reports saying it was in talks with France's Carrefour and Japan's AEON. The new partner would replace Walmart, the world's biggest retailer, with which Bharti had a strategic alliance that fell apart last October. "There are talks (for a new venture) but nothing is completed until the last dot is signed," a Bharti source told AFP.

India top court rejects another Sahara bid to release chief

NEW DELHI (Reuters) - India's Supreme Court on Friday rejected another proposal by the Sahara conglomerate to secure the release of its jailed chairman by refunding billions of dollars the company had raised from investors in a now outlawed bond scheme. Sahara Chairman Subrata Roy, 65, was arrested last Friday for failing to appear at a hearing in the long-running case that pits the unlisted group against the securities regulator, the Securities and Exchange Board of India (SEBI).

India's Sahara group boss sent to jail

India's top court jailed the head of Sahara business group Tuesday after he apologised to the judges for failing to show up for a hearing over repaying billions of dollars to small investors. Flamboyant billionaire Subrata Roy, who was remanded in custody for a week, said he was sorry for not personally attending a hearing last week, which had prompted the frustrated top court to order his arrest over the 18-month old case.

India's Sahara group boss sent to jail

India's top court jailed the head of Sahara business group Tuesday after he apologised to the judges for failing to show up for a hearing over repaying billions of dollars to small investors. Flamboyant billionaire Subrata Roy, who was remanded in custody for a week, said he was sorry for not personally attending a hearing last week, which had prompted the frustrated top court to order his arrest over the 18-month old case.

India clocks tepid 4.7% growth in Oct-Dec quarter

India's economy grew by a sluggish 4.7 percent in the last quarter of 2013, data showed Friday, marking more bad news for the ruling Congress party ahead of looming elections. The 4.7 percent year-on-year expansion in the three months to December undershot market forecasts of around five percent growth and reflected high interest rates that have crimped investment and consumer spending. No immediate improvement was seen on the horizon for growth in the gross domestic product (GDP) of Asia's third-largest economy.
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