This was the fourth straight increase, as policymakers extended their battle to tame stubbornly high inflation and analysts said further tightening is on the cards.

Mergers and acquisitions involving firms in China have sunk by a third this year, in line with a global decline, but private equity groups are now eyeing possible deals in India and SE Asia

Mashreq Bank in Dubai declined a request to take payments from at least Indian two refiners in Emirati dirhams, forcing the buyers to pay for crude in US dollars, sources say

Tata leads India's EV market, helped by government subsidies and high tariffs on imports, but EVs only make up 1% of all cars sold in the country

Adani said 70% of the $100 billion-plus his group will invest over the next decade will go to "energy transition", adding that they are already the world’s largest solar player

Companies such as Samsung, Xiaomi and Apple fear elevated costs and disruptions as the move requires hardware changes. They want the compliance date set back to 2025

IDFC First Bank says the rupee could hit 82.50 to the dollar by March as the dollar is likely to stay strong, while India's trade deficit is expected to widen

Apple continues to cut its reliance on China and will move 5% of its iPhone 14 production to India this year and expand its capacity to produce a quarter of all iPhones there by 2025

New Delhi is looking to attract high-tech investments with a $10bn incentive plan for chip and display production

The proposed legislation would impose penalties on countries that increase their imports of Russian oil, provoking tensions with India and China, The Economic Times said.

Sources said the government would be comfortable if the central bank took two years or even longer to get inflation down to its target of 4%.

Apart from exploring a possible rupee-riyal trade mechanism, the nations also discussed trade diversification and expansion, removal of trade barriers, and marketing of Indian pharma products