NEW DELHI (Reuters) -India should be able to grow at about 7% annually this decade as investment spending is expected to rise and the digital economy picks up, the chief economic adviser said on Tuesday. The government has already said it expects the world’s fifth-largest economy to grow at more than 7% this fiscal year, …
India could grow at 7% annually this decade -chief economic adviser Read More »
NEW DELHI (Reuters) – India does not need to defend the rupee because its economic fundamentals are such that the currency can take care of itself, the country’s chief economic adviser, V. Anantha Nageswaran, said on Tuesday. “I think India isn’t defending the rupee, India is just making sure that the market forces and the …
India not defending rupee, does not need to – says chief economic adviser Read More »
MUMBAI (Reuters) -A fire that started at an electric scooter showroom in India killed at least eight people and injured 11, police said on Tuesday, in what is the deadliest such incident involving electric vehicles in the country. A spate of electric scooter fires this year has alarmed the government, which is keen to promote …
Fire at e-scooter showroom in India kills eight in deadliest such incident Read More »
MUMBAI (Reuters) – India’s market regulator is in the process of evaluating enhanced disclosure norms for the futures and options market, its chairperson, Madhabi Puri Buch, said on Tuesday. Puri, head of the Securities and Exchange Board of India, did not elaborate on the details. (Reporting by Abhirup Roy in Mumbai; Writing by Shilpa Jamkhandikar; …
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By Arundhati Sarkar (Reuters) – Gold jumped about 1% and silver rallied over 5% on Monday, bolstered by a weaker dollar, while investors awaited key inflation data for cues on the pace of interest rate hikes by the U.S. central bank. Spot gold rose 0.7% to $1,728.57 per ounce by 1:53 p.m. EST (1753 GMT), …
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(Reuters) – Alphabet Inc is considering moving some production of Pixel phones to India following disruptions in China from COVID-19 lockdowns and Beijing’s rising tensions with the United States, the Information reported on Monday, citing a source. Alphabet, which did not immediately respond to a Reuters request for comment, has solicited bids from manufacturers in …
Google considers making some Pixel phones in India – The Information Read More »
BENGALURU (Reuters) – British asset manager abrdn plc will sell a stake of about 2% in Indian insurer HDFC Life Insurance Company through a block trade on Tuesday, according to a document seen by Reuters. The offer is priced at 564.1-578.55 rupees ($7.11-$7.29) per share. HDFC Life shares closed at 578.55 rupees on Monday. At …
(Reuters) – Magna International Inc is investing $77 million in India’s EV startup Yulu to enter the micromobility market, the Canadian auto parts supplier said on Sunday. Magna will own a stake and hold a seat on the board of the Bangalore, India based company, it said. The two companies have established a new battery …
Magna invests $77 million in India’s EV startup Yulu to enter micromobility market Read More »
By Pamela Barbaglia LONDON (Reuters) – JPMorgan has clinched a deal to buy U.S. firm Renovite Technologies to expand its payments processing business and win market share in a lucrative industry where big banks face tough competition from fintech disrupters. Financial terms of the transaction were not disclosed. California-based Renovite, which has a presence in …
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By Aditya Kalra NEW DELHI (Reuters) – A unit of Sony Group and India’s Zee Entertainment have proposed offering concessions such as pricing discounts to help ease concerns of the country’s antitrust regulator over their merger, which will create a $10-billion TV behemoth, two sources told Reuters. The concessions are a bid to iron out …
