NEW DELHI (Reuters) – Meta Platforms appointed Sandhya Devanathan as its India head on Thursday, days after Ajit Mohan quit to join rival Snap Inc. WhatsApp’s India head Abhijit Bose and Meta Platforms’s public policy director in India Rajiv Aggarwal also resigned earlier this week. Devanathan’s appointment comes at a time when Facebook is facing …
Meta Platforms appoints Sandhya Devanathan as India head Read More »
By Scott Murdoch and M. Sriram SYDNEY/MUMBAI (Reuters) -SoftBank Group Corp on Thursday sold a 4.5% stake in Indian digital payments giant Paytm through block deals for $200 million, sources told Reuters, leading to a sharp fall in the shares of the Indian company. The deal was executed at 555.67 rupees, two people with direct …
SoftBank sells 4.5% stake in India’s Paytm for $200 million – sources Read More »
(Reuters) -U.S. investment fund Blackstone Inc said on Thursday it would buy a 52% stake in India’s R Systems International from the IT services company’s promoters for $359 million. Blackstone said it would pay 245 rupees per R Systems share, a premium of around 4% to the closing price on Wednesday. But, R Systems’ shares …
Blackstone to buy majority stake in Indian IT firm R Systems for $359 million Read More »
BENGALURU (Reuters) – Shares of Paytm’s parent One 97 Communications Ltd fell as much as 10% to their lowest since May after Reuters reported that SoftBank Group Corp will sell shares worth up to $215 million in the Indian e-payment platform. The stock is being sold in a range of 555 rupees to 601.45 rupees …
India’s Paytm parent One97 falls 10% on SoftBank stake sale report Read More »
(Reuters) – The Indian arm of Canadian investment company Fairfax Financial Holdings Ltd is weighing an initial public offering for India’s Bangalore International Airport that could value the asset at about 300 billion Indian rupees ($3.7 billion), Bloomberg News reported on Thursday, citing sources. Fairfax India holds a majority stake in the owner of Bengaluru’s …
Fairfax mulls India’s Bangalore airport IPO at $3.7 Billion value- Bloomberg News Read More »
(Reuters) – India has raised a windfall tax on crude oil to 10,200 Indian rupees ($125.22) per tonne from 9,500 rupees per tonne, a government order said on Wednesday. India has also cut export tax on diesel to 10.50 rupees per liter from 13 rupees per liter, the order said. ($1 = 81.4570 Indian rupees) …
By Nidhi Verma NEW DELHI (Reuters) -Indian refiners are wary of buying Russia crude oil loading after Dec. 5 when European Union sanctions take effect, pending clarity on the proposed G7 price cap mechanism, according to sources familiar with the refiners’ crude purchase plans. Chinese refiners have already begun slowing down Russian oil imports from …
Indian refiners becoming wary of buying Russian oil as EU sanctions loom – sources Read More »
By Herbert Lash and Amanda Cooper NEW YORK/LONDON (Reuters) -Global stocks slid from two-month highs and the safe-haven dollar steadied on Wednesday after stronger-than-expected U.S. retail sales clouded the inflation outlook and hopes that the Federal Reserve could ease its aggressive interest rate hikes. Stocks in Europe pared overnight losses in Asia after Poland’s president …
Global stocks slip, dollar steady as retail sales tip Fed outlook Read More »
By Seher Dareen (Reuters) – Gold hovered near its three-month peak on Wednesday, weighed by a slightly stronger dollar while benchmark yields were lower, as the market focus shifted from global tensions to the Federal Reserve’s interest rate strategy. Spot gold edged 0.3% lower to $1,773.13 per ounce by 2:08 p.m. ET (1908 GMT), while …
Gold hovers near multi-month peak on softer yields Read More »
NEW DELHI (Reuters) -The Indian government has received about 38.39 billion rupees ($472.1 million) from the sale of Axis Bank Ltd shares held by a government investment vehicle, the divestment secretary wrote on Twitter on Wednesday. The government sold its entire 1.55% stake, representing 46.5 million shares, in Axis Bank held through Specified Undertaking of …
India receives $472 million from sale of Axis Bank shares – official Read More »
