BENGALURU (Reuters) -Indian shares closed at a near-two-week low on Monday, logging their third straight day of losses, dragged down by a rise in COVID-19 cases in China and the likelihood of a tighter U.S. monetary policy. The S&P BSE Sensex ended down 0.84% to 61,144.84 and NSE Nifty 50 index lost 0.81% to 18,159.95. …
Indian shares decline on China COVID woes, hawkish Fed Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee declined against the U.S. currency on Monday, weighed by the dollar index’s jump and the Chinese yuan’s weakness. The rupee last traded at 81.84 to the dollar, down from 81.6850 on Friday. The local unit held a narrow 81.75 to 81.90 range during the session. It …
Indian rupee slips on safe-haven dollar demand, Fed minutes in focus Read More »
MUMBAI (Reuters) – Goldman Sachs expects India’s economic growth to slow to 5.9% next year, from an estimated 6.9% growth in 2022, as the boost from the post-COVID reopening fades and monetary tightening weighs on domestic demand. “We expect growth to be a tale of two halves in 2023, with a slowdown in the first …
India’s growth to slow in 2023 on fading reopening impact-Goldman Sachs Read More »
By Neha Arora NEW DELHI (Reuters) -India’s removal of export duty on steel intermediates “immensely helps” domestic companies compete in international markets amid a global slowdown in consumption of the alloy, JSW Steel’s finance chief, Seshagiri Rao M.V.S., told Reuters on Monday. India scrapped export taxes on low-grade iron ore and on some intermediate steel …
India’s JSW Steel says scrapping export tax helps compete globally Read More »
By Ira Dugal MUMBAI (Reuters) – Indian lenders are expanding lending to local corporations at the fastest pace in more than eight years, a sign of a new private investment cycle starting in the world’s fifth-largest economy even as growth in large developed economies and China slows. That international slowdown will limit the strength of …
Rise in Indian corporate lending signals new investment cycle Read More »
By Neha Arora NEW DELHI (Reuters) -India scrapped export taxes on low-grade iron ore and on some intermediate steel products beginning Saturday, after months of complaints from miners and steel makers about loss of foreign sales opportunities. The move, set out in a notification issued late on Friday, reverses the imposition in May of a …
India scraps export tax on low-grade iron ore, some steel intermediates Read More »
NEW DELHI (Reuters) – Tata Group-owned Air India is in talks with Boeing and Airbus about ordering new aircraft and is meeting its immediate needs by leasing planes and repairing grounded aircraft, the airline’s chief executive said on Saturday. The autos-to-steel conglomerate, which completed its purchase of Air India in January, faces an uphill struggle …
Air India in talks with Airbus, Boeing to buy planes, says CEO Read More »
By Munsif Vengattil and Aditya Kalra NEW DELHI (Reuters) -India on Friday proposed a new data privacy law that will allow companies to transfer some users’ data abroad, while giving the federal government powers to exempt state agencies from the law in the interests of national security. The proposed law would be the latest regulation …
India proposes easier cross-border data transfers under new privacy law Read More »
By Seher Dareen (Reuters) – Gold prices fell on Friday and were bound for a weekly dip following indications from U.S. Federal Reserve officials that more interest rate hikes were due as the bank seeks to lower inflation. Spot gold fell 0.7% to $1,748.84 per ounce by 2:08 p.m. ET (1908 GMT), set for a …
Gold falls on Fed rate hike prospects, on track for weekly dip Read More »
BENGALURU (Reuters) -India’s Zomato Ltd said on Friday its co-founder, Mohit Gupta, had resigned after about five years at the food aggregator. Gupta is credited with building Zomato’s food delivery operations from scratch and was the segment’s chief executive before being elevated to co-founder in May 2020. Gupta said in a letter to the company …
Indian food delivery firm Zomato’s co-founder resigns Read More »
