By Sethuraman N R BENGALURU (Reuters) – Indian shares fell on Monday to close at their lowest in a month, weighed down by losses in information technology and banking stocks after U.S. Federal Reserve signalled aggressive rate hikes. Fed Chair Jerome Powell’s promise of policy “pain” to contain inflation quashed hopes that the central bank …
Indian shares close at 1-month low on hawkish Fed stance Read More »
MUMBAI (Reuters) – The Indian rupee dropped to an all-time low versus the dollar on Monday on bets the Federal Reserve will keep a restrictive stance for longer, prompting the Reserve Bank of India to step in. The rupee closed at 79.9625 per U.S. dollar, down from 79.8650 in the previous session. The local currency …
By Aditya Kalra NEW DELHI (Reuters) – Danish brewer Carlsberg said it is removing “certain” board representatives from its India unit that come from its partner Nepal-based Khetan Group, accusing them of acting against their joint venture’s interests. The move represents a deepening of a long-standing dispute that first came to light in 2019, when …
Carlsberg acts to remove partner’s board members from India unit as dispute deepens Read More »
MUMBAI (Reuters) – The Reserve Bank of India will likely set cutoff yield for 10-year state development bonds being auctioned on Monday between 7.62% and 7.65%, according to the median in a Reuters poll of 10 traders. Six Indian states aim to raise an aggregate 140 billion Indian rupees ($1.75 billion) through the sale of …
(Reuters) – Disney Star will broadcast International Cricket Council (ICC) events in India after bagging the digital rights to both men’s and women’s global competitions through to the end of 2027, the sport’s governing body announced on Saturday. The ICC said in a statement https://www.icc-cricket.com/media-releases/2762748 that Disney Star won the rights following a single round, …
Cricket-Disney Star to broadcast ICC events in India to end of 2027 Read More »
By Aditi Shah NEW DELHI (Reuters) – Maruti Suzuki is open to forming partnerships with auto part makers to secure its future supply chain and maintain its leadership position, the chairman of India’s top-selling carmaker said in an interview. Partnering with suppliers in its early years contributed significantly to Maruti’s success in India, where it …
Maruti, India’s top carmaker, open to partnerships to secure supply chain Read More »
By Aditya Kalra NEW DELHI (Reuters) – India’s top crypto app CoinSwitch is cooperating with the national financial-crime agency, whose agents searched its offices this week to find out about its business model and user-onboarding processes, its CEO told Reuters on Saturday. CoinSwitch, valued at $1.9 billion, says it is the largest crypto company in …
India’s CoinSwitch cooperating with financial crime agency probe -CEO Read More »
NEW DELHI (Reuters) – ArcelorMittal Nippon Steel India Ltd will acquire certain infrastructure assets from Essar Group for $2.4 billion, the steel manufacturer said on Friday, a deal that will strengthen its steel making business in the country. The purchase of steel making business assets, including power, ports and other logistics and infrastructure operations, will …
ArcelorMittal Nippon to buy some Essar Group assets for $2.4 billion Read More »
By Ashitha Shivaprasad (Reuters) – Gold fell over 1% on Friday after Federal Reserve Chair Jerome Powell in his speech at Jackson Hole said the U.S. economy needed a tight monetary policy until inflation was under control. Powell said this could mean slower growth, but did not hint at what the Fed might do at …
Gold slides after Powell doubles down on tight monetary policy Read More »
By Sudarshan Varadhan NEW DELHI (Reuters) -The United States had constructive talks with Indian officials on a proposal to cap prices of Russian oil, U.S. Deputy Treasury Secretary Wally Adeyemo said on Friday, as it seeks global support for a proposal to cut Russian revenue. India and China have stepped up oil purchases from Russia …
U.S. says had constructive talks with India on Russian oil price cap plan Read More »
