Exclusive: Indian antitrust watchdog raids Glencore business, others over pulse prices - sources

NEW DELHI - India’s antitrust watchdog raided units of global commodities trader Glencore and two other firms in Mumbai on Saturday in an inquiry into alleged collusion on the price of pulses, four sources with knowledge of the raids told Reuters.

The Competition Commission of India has been investigating allegations that the companies formed a cartel to discuss the pricing of pulses while importing and selling them in the Indian market at higher prices in 2015 and 2016, when India faced an acute shortage, the sources said. “The collusion by these companies led to higher prices of pulses,” one of the government sources said, adding that the CCI’s inquiry started three months ago.

Another source, an industry executive, told Reuters that CCI’s search involved going through company records at Glencore’s office in Mumbai, confirming it was part of the watchdog’s probe into accusations of fixing import prices.

Glencore means assholes in my language

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Philip Morris says Indian partner charges machinery costs; calls it 'business expense'Philip Morris International Inc's Indian partner charges machinery-related ... Do you ever write headlines that actual humans can understand? They should learn that the Cigarette industry is a dying breed. As countries impose tighter regulations and people become more health conscious, going around the rules won't help them anymore. They need to pack up and invest in something else. Adapt or perish So DOES VAPING. SO DOES VAPING
Source: Reuters - 🏆 2. / 97 Read more »

12-year-old bullied for her skin color empowers others with clothing businessWhen Kheris Rogers was bullied for her skin color, she and her sister decided to start a T-shirt company with the message “Flexin’ in My Complexion,” now embraced by celebrities from LeBron James to Lupita Nyong'o. America gets stupider by the day Beautiful! Intelligent! She and her parents have the character to beat this racist nation! Can you imagine if a white person wore this shirt. My god it would be meltdown central.
Source: NBCNews - 🏆 10. / 86 Read more »