By Kavya Guduru (Reuters) – Gold prices crept higher for a second straight session on Tuesday, underpinned by a retreat in the dollar, but gains were kept in check by prospects of further large Federal Reserve interest rate hikes. Spot gold was up 0.1% at $1,651.50 per ounce by 12:37 p.m. ET (1637 GMT). U.S. …
Gold gains for second day as subdued dollar lifts appeal Read More »
By Nikunj Rajesh Ohri NEW DELHI (Reuters) -The Indian government should focus on privatisation of state-run companies instead of chasing high divestment targets, a top finance ministry official said on Tuesday, pointing to market volatility and investors’ shaky appetite for risk. Last fiscal year, the government raised just over 135 billion rupees ($1.6 billion) from …
India government must set moderate divestment targets -official Read More »
By Arundhati Sarkar (Reuters) – Gold prices edged higher on Tuesday as the dollar crept lower, although bets of another big interest rate hike from the U.S. Federal Reserve weighed on the non-yielding metal’s appeal and capped its gains. Spot gold was up 0.4% at $1,655.66 per ounce by 1235 GMT, while U.S. gold futures …
Gold ticks up as dollar eases; Fed rate-hike fears linger Read More »
BENGALURU (Reuters) -India’s Network18 Media & Investments reported a loss for the second quarter on Tuesday, as advertisers spent less and the media conglomerate backed by billionaire Mukesh Ambani poured funds into new television channels and shows. Viacom18, a joint venture in which Network18 is a 51% owner, has launched three new sports channels having …
India’s Network18 reports loss on higher expenses, advertising slowdown Read More »
By Rama Venkat BENGALURU (Reuters) – Indian shares rallied for the third straight session to close at over three-week highs on Tuesday, as bank stocks surged and fears of rate hikes were soothed after the country’s central bank said inflation looked set to ease. Forty of the 50 stocks on the NSE Nifty 50 index …
Indian shares end at three-week highs as domestic inflation fears ease Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee closed little changed against the U.S. dollar on Tuesday, as strong demand for dollars from oil companies and other importers prompted the local unit to surrender earlier gains. The rupee closed at 82.36 per dollar, compared with 82.3500 in the previous session. The local unit hit …
Rupee ends flat, gives up intraday gains; outlook dim Read More »
By Swati Bhat MUMBAI (Reuters) – The Indian central bank’s 2013 playbook to buffer the domestic currency against steep declines and rebuild foreign exchange reserves is unlikely to prove fruitful in the current crisis as economic fundamentals are vastly different, analysts said. India’s forex reserves have tumbled about $110 billion from a peak of $642 …
India cenbank’s 2013 playbook to rebuild FX reserves unlikely to work-analysts Read More »
By Rajendra Jadhav and Mayank Bhardwaj MUMBAI/NEW DELHI (Reuters) – India is examining whether there is a need to raise palm oil import taxes, government and trade sources said, as part of efforts by the world’s biggest vegetable oil importer to help millions of its farmers reeling from lower oilseed prices. Earlier this year, India …
India examining proposal to raise palm oil import tax Read More »
By Michael Kahn and Anna Koper PRAGUE/WARSAW (Reuters) – Central European companies that provide remote, lower-cost business services for multinationals are ramping up their expansion plans as high inflation drives global firms to push more work to the region to cut costs and bolster margins. From Prague and Warsaw to Budapest, western companies have long …
Inflation drives global firms eastward in Europe in search of cost savings Read More »
BENGALURU (Reuters) – Indian biscuit maker Parle Products is in discussions to consider buying Poland-based peer Dr Gerard from private equity firm Bridgepoint, newspaper Economic Times reported on Tuesday, citing people aware of the matter. Dr Gerard is valued at 10 billion to 12 billion rupees ($121.72 million to $146.07 million), the report said, with …
India’s Parle in talks to buy Polish biscuit maker Dr Gerard – Economic Times Read More »
