By Nikunj Ohri (Reuters) – The Indian government is likely to waive some tax norms for the buyer of IDBI Bank in a bid to attract more suitors for a majority stake sale in the lender, two government sources said on Tuesday, after the Centre extended the deadline for initial bids. The federal finance ministry …
India plans tax waivers for IDBI Bank buyer – sources Read More »
By Mayank Bhardwaj and Rajendra Jadhav NEW DELHI/MUMBAI (Reuters) -India is set to offer 2 to 3 million tonnes of wheat to bulk consumers such as flour millers and biscuit makers as part of efforts to cool record high prices, two government sources said, even as state reserves have dropped to the lowest in six …
India set to offer wheat to flour millers, biscuit makers to tame prices -sources Read More »
By Stephen Culp NEW YORK (Reuters) – U.S. stocks extended their three-day sell-off and Treasury yields advanced on Monday as a lack of market catalysts did little to move risk-off sentiment at the beginning of a likely low-volume, pre-holiday week. All three major U.S. stock indexes were lower as investors resumed last week’s flight to …
Wall Street slides, Treasury yields rise on lingering recession fears Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar edged down against the euro as upbeat German business morale data supported the common currency, while a modest improvement in investors’ appetite for riskier currencies weighed on the safe-haven dollar. German business morale rose more than expected in December as the outlook for Europe’s largest economy …
Dollar slips vs euro on upbeat German business morale data Read More »
By Seher Dareen (Reuters) – Gold prices inched lower on Monday in thin trading, as rising yields on expectations of higher interest rates countered weakness in the U.S. dollar. Spot gold fell 0.2% to $1,789.46 per ounce by 1:51 p.m. ET (1851 GMT), while U.S. gold futures settled down 0.1% to $1,797. “We’re just seeing …
Gold inches lower in thin trading on higher yields Read More »
By Kane Wu (Reuters) – Stronger Asia-Pacific mergers and acquisitions activity next year depends on improving macroeconomic conditions, after 2022 deals were held at eight-year lows by financing costs, weak equity markets and China’s pandemic controls, dealmakers said. Deals are set to revive slowly as companies and funds watch out for easier macroeconomic conditions, they …
Recovery in Asia M&A, stuck at 8-year-lows, rests on macro conditions Read More »
BENGALURU (Reuters) – Indian private lender Yes Bank said on Monday it completed the transfer of bad loans worth 480 billion rupees ($5.81 billion) to private equity firm J.C. Flowers, in a deal aimed at cleaning up its balance sheet. The deal, the largest sale of bad loans in the Indian banking sector yet, comes …
India’s Yes Bank completes transfer of $5.81 billion worth bad loans to J.C. Flowers Read More »
BENGALURU (Reuters) – Indian shares recorded their best day in over three weeks on Monday, led by gains in consumer and automotive stocks, after a sharp two-day selloff at the end of last week on fears of a global recession. The Nifty 50 index closed 0.83% higher at 18,420.45, and the S&P BSE Sensex rose …
Indian shares log best day in over three weeks in post-selloff jump Read More »
MUMBAI (Reuters) – Indian banks have written off loans worth over 10 trillion rupees ($121.05 billion) in the last five financial years in an attempt to clean up their balance sheets, according to the federal government. State Bank of India, the country’s largest lender, leads the list with the biggest write-off of 2.04 trillion rupees, …
Indian banks wrote off over $121 billion loans in five years – govt Read More »
NEW DELHI (Reuters) – India aims to implement quality control measures for the light engineering, rubber, cement and concrete building materials industry by next year, a government source told Reuters on Monday. “Drawing from the example of measures taken for the toy industry in India, better standards helped comply with international standards. The industry then …
India eyes quality control measures for rubber, cement industries – govt source Read More »
