India’s Vistara to merge with Air India from Nov. 12
BENGALURU (Reuters) – Indian airline Vistara said on Friday its operations will be merged with Air India starting November 12. (Reporting by Varun Hebbalalu in Bengaluru)
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India’s Zepto raises $340 million at $5 billion valuation
(Reuters) – Indian grocery startup Zepto said on Thursday it has raised $340 million in a fresh round, just two months after its last fundraise. In the latest round led by General Catalyst, the three-year-old company was valued at $5 billion, a sharp rise from $3.6 billion in June. Zepto, which raised more than $1 …
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Gold gains nearly 1% as investors zero in on Fed cuts, inflation data
By Anushree Ashish Mukherjee (Reuters) – Gold prices gained around 1% on Thursday, fuelled by strong expectations of a Federal Reserve rate cut in September with investors focusing on U.S. inflation data for further insights on the potential size of the cut. Spot gold rose 0.9% to $2,524.45 per ounce by 1:52 p.m. ET (1752 …
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India’s aviation watchdog issues show cause notice to Akasa Air
BENGALURU (Reuters) -India’s aviation watchdog has issued a show cause notice to Akasa Airlines over several regulatory breaches identified during a recent review, the Directorate General of Civil Aviation (DGCA) said in a statement on Thursday. Akasa Air, which started flying international in March, was found to be non-compliant with civil aviation regulations and Rule …
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India’s aviation watchdog puts SpiceJet under enhanced surveillance
NEW DELHI/BENGALURU (Reuters) -India’s aviation watchdog said it has placed budget airline SpiceJet under enhanced surveillance with immediate effect after a recent audit revealed “certain deficiencies”. Thursday’s move came three weeks after the Directorate General of Civil Aviation conducted a special audit following reports of flight cancellations and financial troubles. “This would entail increase in …
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India allows ethanol production from cane juice
By Rajendra Jadhav MUMBAI (Reuters) -India will allow sugar mills to use cane juice or syrup to produce ethanol in the new marketing year starting Nov. 1, the government said in a notification on Thursday. The world’s second-biggest sugar producer imposed restrictions on diverting sugar for ethanol production in December 2023 to increase sugar output …
Ambani says India’s Reliance to more than double in size before end of decade
By Indranil Sarkar and VarunVyas Hebbalalu BENGALURU (Reuters) -India’s Reliance Industries is on track to more than double in size before the end of the decade, its billionaire-chairman Mukesh Ambani told shareholders on Thursday. Reliance, which is India’s most valuable company with a market capitalisation of $245.44 billion, said it expects to double sales and …
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Nifty, Sensex touch record highs as financials, IT gain
By Bharath Rajeswaran BENGALURU (Reuters) -India’s benchmark indexes, the NSE Nifty 50 and S&P BSE Sensex, recovered from a sluggish start to reach record highs on Thursday, driven by strong performances in financial and information technology stocks. Both the indexes rose about 0.5% each to hit all-time high levels, as of 12:49 p.m. IST. “The …
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India’s Axis Bank likely to issue infra bonds in September, sources say
By Siddhi Nayak and Dharamraj Dhutia MUMBAI (Reuters) – India’s Axis Bank is set to join several other lenders in raising funds through infrastructure bonds and may announce the issue in September, three sources, including two merchant bankers, said. The Indian government’s strong capital expenditure push, with budget allocation at a record 11.11 trillion rupees …
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Renewed rally in Asia FX, potential inflows bring relief for rupee
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee edged up on Thursday, supported by stronger Asian currencies and anticipated MSCI-related inflows. The rupee traded at 83.9050 against the U.S. dollar at 10:52 a.m. IST, improving from 83.9525 in the previous session. Asian currencies rose between 0.1% and 0.4%, while the dollar index slipped to …
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