By Seher Dareen (Reuters) – Gold prices were on track to gain for the week, rising more than 1% on Friday as the dollar weakened amid reports of a potential debate amongst the U.S. Federal Reserve officials about the pace of rate hikes. Spot gold was up 1.5% at $1,652.21 per ounce by 2:06 p.m. …
Gold jumps as dollar weakens on Fed rate-hike uncertainty Read More »
By Noah Browning, Dmitry Zhdannikov and Jonathan Saul LONDON (Reuters) -Russia can access enough tankers to ship most of its oil beyond the reach of a new G7 price cap, industry players and a U.S. official told Reuters, underscoring the limits of the most ambitious plan yet to curb Moscow’s wartime revenue. The Group …
Russia poised to largely skirt new G7 oil price cap Read More »
By Sethuraman N R and Chris Thomas BENGALURU (Reuters) – Reliance Industries Ltd reported a flat profit for the second quarter on Friday, as export taxes on refined fuels and weak refining margins weighed down the dominant oil-to-chemical business at India’s most valuable company. The Indian government’s decision to levy windfall tax on exports of gasoline, …
India’s Reliance posts flat profit on weak refining margins, export tax Read More »
BENGALURU (Reuters) – Reliance Industries said on Friday it will demerge its financial services business and list it on Indian stock exchanges under the name Jio Financial Services. Reliance shareholders will get get one share of Jio Financial Services for one share held in Reliance, the conglomerate led by billionaire Mukesh Ambani said in an …
India’s Reliance to demerge, list financial services business Read More »
By Nupur Anand MUMBAI (Reuters) – The resolution professional for India’s debt-laden Future Retail Ltd has extended the deadline for potential buyers to submit their bids for the retailer, due to tepid interest, two banking sources said on Friday. The deadline had ended on Oct. 20, but has been extended to Nov. 3, according to …
Bid deadline for India’s Future Retail extended due to low interest -sources Read More »
BENGALURU (Reuters) – Indian IT solutions provider Mphasis has a reasonable proportion of large contracts in its pipeline and expects its current trend of new deal wins to continue over the medium term, despite macro headwinds, a top company official said on Friday. The Bengaluru-based company said it won new deals worth $302 million, including …
India’s Mphasis says deal win trend intact in medium term Read More »
MUMBAI (Reuters) – Societe General expects the spread between the USD/INR onshore and offshore rates to shrink from the current two-and-a-half-year highs and recommends fading any rally in the 12-month basis points difference hereon. The 12-month USD/INR non-deliverable forward (NDF), or offshore, rate is about 80 paisa higher than the onshore rate, the highest since …
SocGen recommends fading rally in USD/INR offshore-onshore spread Read More »
BENGALURU (Reuters) -Indian billionaire Gautam Adani’s group plans to raise at least $10 billion in new debt through the next year to refinance large borrowings and fund projects in its pipeline, Bloomberg News reported on Friday, quoting people in the know. The Adani Group plans to use several vehicles including foreign currency debt and green …
Indian billionaire Adani looks to raise $10 billion debt – Bloomberg News Read More »
By Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) -India’s competition regulator on Thursday ordered Alphabet Inc’s Google to change its approach to its Android platform and fined the U.S. tech company 13.38 billion Indian rupees ($161.95 million) for anticompetitive practices. The Competition Commission of India (CCI) said Google leveraged its dominant position in markets …
Google fined $162 million by India antitrust watchdog for abuse of Android platform Read More »
By Seher Dareen (Reuters) – Gold prices pared gains on Thursday, having risen about 1% on a softer dollar, as a jump in equities markets and rallying Treasury yields pulled bullion back toward three-week lows hit earlier. Spot gold rose 0.1% to $1,629.75 per ounce by 1:51 p.m. ET (1751 GMT), earlier touching its lowest …
Gold trims gains as Treasury yields march higher Read More »
