MILAN (Reuters) – Italian fashion house Valentino will open its first mono-brand stores in India after signing a distribution agreement with the country’s biggest retailer Reliance, the companies said in a joint statement on Thursday. Though small for a country of its size, India’s luxury market is set to be one of the fastest growing …
Valentino to open first monobrand stores in India after Reliance deal Read More »
BENGALURU (Reuters) – India’s central bank said on Thursday it will reschedule its next monetary policy meeting to Aug. 3-5 from Aug. 2-4, due to “administrative exigencies”. (https://bit.ly/3v0Pair) (Reporting by Tanvi Mehta in Bengaluru)
By Sethuraman N R BENGALURU (Reuters) – Indian shares closed near a seven-week high on Thursday, led by gains in metals and auto stocks, while strong results from IndusInd Bank lifted private lenders. The NSE Nifty 50 index and the S&P BSE Sensex rose 0.51% each to close at 16,605.25 and 55,681.95, respectively. Both the …
Indian shares close near seven-week high; IndusInd Bank jumps 8% Read More »
By Munsif Vengattil and Aditya Kalra NEW DELHI (Reuters) – On Feb. 2, when Meta Platforms reported Facebook’s first-ever quarterly drop in daily users, its finance chief identified higher mobile data costs as a unique obstacle slowing growth in India, its biggest market. On the same day, the U.S. tech group posted the findings of …
Facebook’s growth woes in India: too much nudity, not enough women Read More »
MUMBAI (Reuters) – The Indian economy is expected to expand 7% in fiscal 2022/23, slower than a previous estimate of 7.4% and the central bank’s 7.2% projection, according to a survey by India’s leading industry body. The Federation of Indian Chambers of Commerce and Industry’s (FICCI) quarterly survey, released on Thursday, said the war in …
India’s FY23 growth forecast cut to 7%, RBI to stay hawkish, industry body says Read More »
By Aditi Shah NEW DELHI (Reuters) – India’s top-selling carmaker, Maruti Suzuki, believes the government will show support for “green” car technology beyond full electric vehicles (EVs), such as hybrid, if it benefited the country, the company’s chief executive said. The comments come after Maruti unveiled its first strong hybrid car in India, the Grand …
India’s top carmaker hopes govt will support ‘green’ tech beyond EVs Read More »
By Swati Bhat MUMBAI (Reuters) -The Indian rupee was held in a tight range on Thursday as dollar selling intervention by the central bank offset early losses in the currency on the back of weakness in its Asian peers, traders said. The partially convertible rupee was trading litle changed on the day at 79.97/98 per …
Indian rupee wedged in a tight band; RBI intervention in focus Read More »
By Stephanie Kelly NEW YORK (Reuters) – Oil prices slipped on Wednesday, after U.S. government data showed lower gasoline demand during the peak summer driving season and as interest rate hikes by central banks to fight inflation fed fears the economy could slow, cutting energy demand. Prices pared losses during the session after TC Energy …
Oil falls on lackluster U.S. summer gasoline demand Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices fell on Wednesday as a firmer dollar countered limited support for bullion from expectations the U.S. Federal Reserve may not resort to a 100-basis-point interest rate hike next week. Spot gold was down 0.6% at $1,700.23 per ounce by 2:06 p.m. EDT (1806 GMT). U.S. gold futures settled …
By Tim Hepher and David Shepardson FARNBOROUGH, England (Reuters) – Boeing has been cranking out order announcements at this week’s Farnborough Airshow, restoring momentum to its troubled 737 MAX, while rival Airbus on Wednesday added to its A320neo order book. Boeing has secured over 100 firm orders for the MAX as it still faces big …
Boeing, Airbus secure Farnborough orders as sector stabilises Read More »
