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Bank of England expected to hold interest rates

Investors predict MPC will maintain interest at 5.25% when it meets on Thursday.

Adidas-owned Reebok cleared to open own stores in India

Reuters
Boards with Reebok store logo are seen on a shopping center at the outlet village Belaya Dacha outside Moscow, Russia, April 23, 2016. REUTERS/Grigory Dukor/Files

NEW DELHI (Reuters) - India on Tuesday approved Adidas AG-owned Reebok India's proposal to start single-brand retail outlets across the country, paving the way for the shoes and apparel maker to sell directly to consumers.

The move follows the government's decision to give similar approvals to Chinese smartphone maker Oppo and luxury goods retailer Louis Vuitton's this month.

India allows foreign firms to sell directly to consumers through the so-called "single-brand retail" route, but companies need to source 30 percent of the products locally.

India moved to partially relax those conditions in 2016, exempting foreign retailers for three years from the 30 percent local sourcing rule in a bid to attract more investment.

(Reporting by Sudarshan Varadhan, editing by David Evans)