BENGALURU (Reuters) -India’s Adani Group is in advanced talks to buy debt-laden Jaiprakash Associates Ltd’s cement business for $606 million, Bloomberg News reported on Monday, citing sources. Separately, Jaiprakash Associates said its board had approved the divestiture of the company’s cement business, but did not reveal the name of a potential buyer or the price. …
By Nupur Anand and Rupam Jain MUMBAI (Reuters) – Large Indian lenders are reluctant to process direct rupee trade transactions with Russia months after the mechanism was put in place for fear of becoming the target of sanctions by the United States and Europe over the invasion of Ukraine, sources said. Two smaller lenders have …
Large Indian lenders shun rupee mechanism in Russia trade-sources Read More »
MUMBAI (Reuters) – The Indian rupee could drop to 84-85 to the dollar by March due to rising crude oil prices, high trade deficit and depleting foreign exchange reserves, Elara Global Research said in a note Monday, when the currency hit a record low of 82.6825. “The rupee, so far, has borne the brunt of …
Indian rupee could hit 84-85/USD by March on trade deficit, oil woes -Elara Global Read More »
MUMBAI (Reuters) – India’s Brickwork Ratings said it is considering “appropriate legal recourse” after the country’s market regulator ordered the credit rating firm to wind down operations within six months, citing repeated lapses and violations. The Securities and Exchange Board of India (SEBI) in a rare order on Thursday cancelled Brickwork’s registration certificate and prevented …
India’s Brickwork Ratings mulls “legal recourse” after shutdown order Read More »
BANJUL (Reuters) – Gambia’s President Adama Barrow on Friday said a surge in acute kidney injuries likely linked to a paracetamol syrup that killed dozens of children in past months was under control, with only two diagnoses in the last two weeks. Authorities launched a probe last month after doctors in July noticed that a …
Surge in Gambia child deaths linked cough syrup under control, president says Read More »
By Bharat Gautam (Reuters) – Gold prices fell on Friday, after a better-than-expected U.S. jobs report cemented expectations the Federal Reserve would implement steep interest rate hikes. Spot gold was down 0.6% at $1,700.03 per ounce, as of 12:37 p.m. EDT (1802 GMT). Prices have risen about 2.4% so far this week. U.S. gold futures …
Gold drops as U.S. jobs data fans hefty Fed rate-hike bets Read More »
By Nupur Anand MUMBAI (Reuters) – The Indian government is looking to sell a 60.72% stake in $5.6 billion IDBI Bank and has invited expressions of interest, it said on Friday, setting the ball rolling on a series of planned divestments to reduce the budget deficit. In 2020, Finance Minister Nirmala Sitharaman announced plans to …
India kicks off bank divestments with IDBI stake sale Read More »
By Aditi Shah and Shilpa Jamkhandikar NEW DELHI (Reuters) -India’s Hero MotoCorp. the world’s biggest motorcycle maker by sales, launched its first electric scooter worldwide on Friday as it looks to catch up with newer businesses that have taken the lead in the shift to cleaner transport. Like some other legacy automakers in India, Hero …
India’s top bikemaker Hero launches e-scooter to chase startups Read More »
By Nimesh Vora MUMBAI (Reuters) – The Reserve Bank of India has been selling dollars in the non-deliverable forward (NDF) market via local banks based in India’s GIFT City International Financial Services Centre, as it seeks to support the sliding rupee, traders said. The rupee has repeatedly hits record lows in recent sessions as the …
India’s RBI intervening in NDF market, monitoring rupee positions – traders Read More »
By Aditi Shah and Aftab Ahmed NEW DELHI (Reuters) – Indian car makers have proposed cutting to 30% the tax rate on imported cars as part of a trade deal with Britain, sources told Reuters, an unprecedented move that could ease access to one of the world’s most protected automobile markets. It is the first …
Exclusive-Indian car makers propose tax cut on imports in trade deal with Britain Read More »
