Reuters exclusively reported that India and Russia have suspended efforts to settle bilateral trade in rupees, after months of negotiations failed to convince Moscow to keep rupees in its coffers. This would be a major setback for Indian importers of cheap oil and coal from Russia who were awaiting a permanent rupee payment mechanism to help lower currency conversion costs.

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Government officials exclusively revealed to Reuters that India, backed by China, is trying to build a consensus within the G20 group to let countries choose a roadmap to cut carbon emissions instead of setting a deadline to end the use of fossil fuels. 

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The day after India’s Go Airlines filed for bankruptcy, Reuters exclusively reported that its owner does not intend to exit the cash-strapped airline. In its bankruptcy filing, India’s third-largest airline, which recently re-branded as Go First, claimed its failure followed a refusal by Pratt & Whitney to abide by an arbitration order to release spare leased engines that would have allowed it to return to full operations. 

The post Go First owner has no plans to exit airline: CEO appeared first on Reuters News Agency.

Reuters exclusively revealed that New Delhi has rejected Pernod Ricard’s (PERP.PA) application to renew its liquor sale license, citing ongoing investigations into the company – the latest blow to the French spirits giant in the critical growth market of India.

The post <strong>New Delhi city refuses to renew Pernod’s liquor sale license, cites probes</strong> appeared first on Reuters News Agency.

Efraín Alegre, Paraguay’s main opposition presidential candidate exclusively told Reuters he will favor “austerity” to cut public sector spending over raising taxes on the country’s farmers if he wins the country’s April 30 election.

The post <strong>Paraguay opposition leader plans state ‘austerity’ vs tax hikes on farmers</strong> appeared first on Reuters News Agency.

Reuters exclusively reported that Japan’s third-biggest automaker by sales is seeking a partner outside the auto industry to develop software that connects vehicles to cloud-based services.

The post <strong>Nissan takes its own road, minus Renault, in seeking tech tie-up</strong> appeared first on Reuters News Agency.

Reuters exclusively reported that India’s Bank of Baroda (BOB.NS) has stopped clearing payments for Russian oil sold above the price cap set by the West from this month, a move that could expedite transition to a rupee trade mechanism. Some Indian refiners were paying in the United Arab Emirates dirham currency for Russian low-sulphur crude priced above the $60 a barrel cap using Bank of Baroda, mainly to Dubai-based traders

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Reuters was the first to reveal that India’s milk product imports are rising and the country is planning to allow duty-free imports. Milk prices in the world’s biggest producer have risen at their fastest rate in a decade, reaching a record high due to lumpy skin disease in cows and a drawdown in market-ready cattle stock after the coronavirus pandemic slowed breeding. Additionally, Reuters reported that consumption of dairy products has been rising rapidly, despite the stagnation in milk supplies. A day later, a senior government official confirmed the Reuters report in a press conference. 

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