Reuters India Business

By Shivam Patel and YP Rajesh NEW DELHI, Dec 5 (Reuters) – Russian President Vladimir Putin offered India uninterrupted fuel supplies on Friday, eliciting a cautious response even as he and Indian Prime Minister Narendra Modi agreed to expand trade and defence ties between countries with decades-old ties. India, the world’s top buyer of Russian …

Putin, Modi agree to expand and widen India-Russia trade, strengthen friendship Read More »

Dec 5 (Reuters) – ICICI Prudential Asset Management will launch its Indian initial public offering next week, with British insurer Prudential planning to sell about a 10% stake in the company. Prudential will sell up to 49 million shares in the IPO, compared with an earlier plan of 17.7 million shares, ICICI Prudential said in …

ICICI Prudential Asset’s India IPO to open on December 12 Read More »

By Anmol Choubey Dec 5 (Reuters) – Gold prices rose on Friday as mounting expectations of a U.S. Federal Reserve rate cut next week buoyed sentiment, while silver soared to a record high. Spot gold was up 1% to $4,212.16 per ounce at 1:36 p.m. ET (1836 GMT), but was on track for a 0.4% …

Gold gains on Fed rate cut optimism; silver hits record high Read More »

BERLIN, Dec 5 (Reuters) – Jindal Steel International sees government subsidies in Europe as “an important factor” in its strategy for a potential takeover of Thyssenkrupp’s steel division (TKSE), the head of its European business was quoted as saying on Friday. Jindal wants to make the transition to green steel “because we firmly believe that …

Jindal sees subsidies as ‘important’ in potential takeover of Thyssenkrupp steel unit Read More »

By Arpan Chaturvedi, Aditi Shah and Dhwani Pandya NEW DELHI, Dec 5 (Reuters) – Traditional wedding functions are a big affair in India, but they have become a major casualty of the crisis engulfing India’s biggest airline, IndiGo. IndiGo’s mass cancellations this week left thousands of passengers stranded, but the disruptions jolted brides and grooms …

IndiGo’s flight chaos spoils India’s wedding parties Read More »

By Aditya Kalra and Munsif Vengattil NEW DELHI, Dec 5 (Reuters) – India’s government is reviewing a telecom industry proposal to force smartphone firms to enable satellite location tracking that is always activated for better surveillance, a move opposed by Apple, Google and Samsung due to privacy concerns, according to documents, emails and five sources. …

Exclusive-India weighs greater phone-location surveillance; Apple, Google and Samsung protest Read More »

By Nidhi Verma NEW DELHI, Dec 5 (Reuters) – India’s Oil and Natural Gas Corp will pay into Russia’s Sakhalin-1 oil and gas field abandonment fund in roubles, using Indian companies’ frozen dividends to retain its 20% stake in the project, three sources familiar with the matter said. ONGC Videsh Ltd, the overseas investment arm …

India’s ONGC moves closer to keeping 20% stake in Russia’s Sakhalin-1 project, sources say Read More »

By Abhijith Ganapavaram, Dhwani Pandya and Aditi Shah MUMBAI/DELHI, Dec 5 (Reuters) – Air travel across India was in turmoil for a fourth day on Friday after IndiGo cancelled more than 1,000 flights, including all departures from New Delhi, prompting the government to announce special relief measures for the country’s largest airline. In a bid …

Indian air travel crippled as IndiGo hit with ‘operational crisis’ Read More »

(Corrects spelling of “institutional” in headline) By Vivek Kumar M Dec 5 (Reuters) – Indian e-commerce platform Meesho received bids worth about 2.5 trillion rupees ($27.79 billion) for its $604 million initial public offering, becoming one of the most sought-after public issues in the country. Qualified institutional buyers bid for shares worth about 2 trillion …

India’s e-commerce firm Meesho draws $28 billion in IPO as institutional investors pile in Read More »