Israel stops processing key commercial food imports to Gaza, sources say

By John Davison, David Gauthier-Villars and Nidal al-Mughrabi JERUSALEM (Reuters) -Israel has stopped processing requests from traders to import food to Gaza, according to 12 people involved in the trade, choking off a track that for the past six months supplied more than half of the besieged Palestinian territory’s provisions.  Since Oct. 11, Gaza-based traders …

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Musk’s win on India satellite spectrum raises prospect of price war with Ambani

By Munsif Vengattil, Aditya Kalra and Aditi Shah NEW DELHI (Reuters) – Having just lost a battle with Elon Musk over how India’s satellite spectrum is awarded, Asia’s richest man Mukesh Ambani could face a bigger challenge if Musk’s Starlink launches services in India and the two go head-to-head on price. India’s government said on …

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India’s budget supermarket chain Vishal Mega Mart files for $950 million IPO

(Reuters) – Indian budget supermarket chain Vishal Mega Mart on Thursday filed papers for an 80 billion rupee ($952 million) initial public offering, joining a growing list of companies tapping the country’s bustling capital market. The company will not issue new shares in the IPO and will not receive any proceeds. Only an existing shareholder, …

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India’s Tata Communications posts Q2 revenue growth on steady digital services demand

(Reuters) – India’s Tata Communications reported an 18% growth in its second-quarter revenue on Thursday, helped by steady demand for its digital services. The firm posted revenue of 57.67 billion rupees ($686 million) for the three months ended Sept. 30, as compared to 48.73 billion rupees a year earlier. Tata Communications provides services such as …

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Polycab India misses Q2 profit view as costs, competition bite

(Reuters) – Rcreported a smaller-than-expected second-quarter profit on Thursday as competition hurt its high-margin retail business, with a rise in expenses pressuring the bottomline further. The company said its consolidated net profit rose 3.4% to 4.40 billion rupees ($52.4 million) for the three months ended Sept. 30. Analysts, on average, had expected a profit of …

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Bank of Canada to cut rates by 50 bps on Oct. 23; next move unclear: Reuters poll

By Mumal Rathore and Indradip Ghosh BENGALURU (Reuters) – The Bank of Canada will cut its overnight rate by 50 basis points on Oct. 23 as price pressures ease, according to two-thirds of economists polled by Reuters who however failed to reach a consensus on where rates would be two months from now. Headline inflation …

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