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Power blackout hits Kazakhstan, Kyrgyzstan and Uzbekistan

The central Asian nations of Kazakhstan, Uzbekistan and Kyrgyzstan suffered electrical power outages in major cities on Tuesday, according to authorities and residents, after a major power line in Kazakhstan was disconnected. The grids of the three ex-Soviet republics are interconnected, and via Kazakhstan are linked to the Russian power grid which they can use to cover unexpected shortages. But...

India’s Delhi government proposes making 25% of new cab registrations electric

The Delhi city state government has proposed mandating a quarter of new cab registrations to be electric vehicles, according to a draft note by its transport department. The proposal would mandate apps providing transportation or delivery services, including cab operators such as Ola and Uber and food delivery apps Swiggy and Zomato, to register with the Delhi government as soon...

Maruti, Axis Bank help Indian shares break 5-day losing streak

- Indian shares snapped their worst losing streak in more than 10 months on Tuesday, helped by top domestic car maker Maruti Suzuki soaring on better-than-expected margins and Axis Bank on the back of strong earnings. The blue-chip NSE Nifty 50 index (.NSEI) closed 0.75% higher at 17,277.95, while the S&P BSE Sensex (.BSESN) climbed 0.64% to 57,858.15, after five straight sessions of heavy...

Maruti Suzuki margins jump on price hikes, sees chip supply improving

Shares of India's top carmaker Maruti Suzuki (MRTI.NS) surged more than 7% on Tuesday as a series of price hikes, to offset high material costs, improved margins despite a fall in third-quarter profit. The company, which sells every second car in India, also said it sees the chip-shortage crisis improving in the current quarter which it hopes will help ramp up production...

India’s Future launches court challenge to avoid insolvency – filing

Indian retailer Future Group on Tuesday challenged its own lenders in the Supreme Court to avoid facing insolvency proceedings over missing payments, citing its dispute with partner Amazon.com Inc , according to a legal filing reviewed by Reuters. Future, the country's second-largest retailer, has since 2020 failed to complete its $3.4 billion retail asset sale to a rival due to a...