By Noel John (Reuters) -Gold prices were largely steady on Monday, as investors focused on U.S. President Donald Trump’s meeting with Ukrainian and European leaders, and the Federal Reserve’s annual symposium in Jackson Hole this week. Spot gold was marginally down at $3,333.32 per ounce at 01:42 p.m. ET (1742 GMT), after hitting its lowest …
Gold prices steady as investors assess Trump–Zelenskiy meeting Read More »
By Eric Onstad LONDON (Reuters) -Lawyers representing Indian businessman Prateek Gupta said they failed to appear for a hearing on Monday because of funding difficulties in a long-running fraud case brought by commodity trader Trafigura about nickel cargoes, a London court heard. Geneva-based Trafigura, a major industrial metals and oil trader, filed a lawsuit against …
Gupta lawyers fail to appear for Trafigura fraud case hearing Read More »
By Jayshree P Upadhyay MUMBAI (Reuters) -India’s markets regulator on Monday proposed a phased approach to restructuring existing equity indices that are linked to derivatives contracts to prevent market manipulation. Analysts expect these changes to make the indexes less prone to external interference, a key focus against the backdrop of a regulatory order last month …
Indian regulator proposes phased restructuring of indexes with derivatives contracts Read More »
(Reuters) -India’s market regulator on Monday proposed to reduce the minimum size of share sale for large companies looking to list their stock in a bid to simplify fund-raising. The proposal includes allowing companies to sell a minimum of 2.5% of their paid-up share capital in an initial public offering from the mandated 5% if …
By Nikunj Ohri, Aftab Ahmed and Aditi Shah NEW DELHI (Reuters) -India aims to slash taxes on small cars and insurance premiums as part of a sweeping reform of its goods and services tax (GST), a government source said on Monday, sparking a rally in Indian stock markets. Prime Minister Narendra Modi’s administration revealed plans …
India proposes slashing taxes on small cars under Modi reforms, sending shares higher Read More »
(Reuters) -Hindustan Zinc will spend 38.23 billion rupees ($437.5 million) to set up a metals reprocessing plant, the Indian miner said on Monday, as a part of its plans to ramp-up capacity. The new plant, with a processing capacity of 10 million tons per annum, will recover metal from tailing dumps – a phrase used …
India’s Hindustan Zinc to invest $438 million to build reprocessing plant Read More »
By Manoj Kumar NEW DELHI (Reuters) -India’s unemployment rate fell to 5.2% in July from 5.6% in the previous month, the statistics ministry said on Monday, as rural hiring picked up ahead of the festival season and on agricultural activity. The jobless rate among those aged 15 years and above in rural areas fell to …
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee rose on Monday, boosted by the rally in local equities on Prime Minister Narendra Modi’s planned tax cuts, while forward premiums and volatility expectations barely budged following the Trump-Putin meeting. The rupee settled at 87.35 per U.S. dollar, up 0.23% from 87.55 in the previous session, …
Rupee ends higher alongside local equities; premiums, volatility flat Read More »
By Bharath Rajeswaran (Reuters) -Indian benchmark shares jumped about 1% on Monday as the government’s plans for sweeping changes to the goods and services tax (GST) regime is expected to boost consumption in an economy where growth is threatened by steep U.S. tariffs. New Delhi will propose a two-rate structure of 5% and 18%, doing …
India tax cut plan boosts shares; Nifty gains most in seven weeks Read More »
By Luke Tyson (Reuters) -Kotak International, the global arm of India’s third-largest private lender Kotak Mahindra, said on Monday it has been given a licence by the United Arab Emirates (UAE) to sell investment funds and portfolios to onshore retail investors. Kotak is the first Indian firm to receive a licence from the UAE’s Securities …
India’s Kotak Mahindra unit secures UAE licence to sell funds to retail investors Read More »
