By Ashitha Shivaprasad (Reuters) – Gold prices edged higher on Tuesday after U.S. inflation data sustained expectations of Federal Reserve interest rate cuts, while attention turned to other key economic data due this week. Spot gold rose 0.1% to $3,347.34 an ounce at 1:50 p.m. EDT (1750 GMT). The dollar eased, making bullion cheaper for …
By Rishika Sadam HYDERABAD (Reuters) -India’s Apollo Hospitals Enterprise plans to double its investment in artificial intelligence capabilities over the next two to three years, its CEO said, after the company beat first-quarter profit estimates on higher patient volume. The hospital chain already uses AI tools in diagnosis to read X-rays, scan reports and also …
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By Chandini Monnappa and Hritam Mukherjee (Reuters) -Radico Khaitan, the maker of “Magic Moments” vodka, will invest up to $4.56 million and team up with Bollywood actor Shah Rukh Khan and Zerodha co-founder Nikhil Kamath to launch a premium tequila brand, marking its foray into the category. The Indian liquor maker, known for premium offerings …
Magic Moments maker ties up with Bollywood star Shah Rukh Khan to launch premium tequila Read More »
BENGALURU (Reuters) -Indian fintech firm Paytm’s Payment Services unit has got ‘in-principle’ approval from the country’s central bank to operate as an online payment aggregator, it said on Tuesday. In August 2024, the company had said it would submit an application with the Reserve Bank of India to seek a payment aggregator license. That move …
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(Reuters) -State-run explorer Oil India reported a sharp drop in first-quarter profit on Tuesday, while falling short of analysts’ expectations, due to softer oil prices, even as demand remained upbeat. Increased fuel demand in two out of three months of the quarter, led by gasoline and aviation fuel, could not offset the sharp fall in …
State-run Oil India’s profit drops as fuel prices tank Read More »
(Reuters) -Indian state-owned miner NMDC reported a lower first-quarter profit on Tuesday, as higher expenses and softer prices overshadowed gains from strong local demand. The country’s largest state-run iron ore producer reported a nearly 1% drop in profit from a year ago to 19.69 billion rupees (about $225 million) in the quarter ended June 30. …
Indian miner NMDC’s quarterly profit drops on higher expenses, softer prices Read More »
BENGALURU (Reuters) -India’s central bank said on Tuesday foreign investors may invest the surplus balance in their so-called “vostro” accounts into central government securities. Vostro accounts are typically held by a domestic bank on behalf of a foreign bank in which trading partners can hold rupee-denominated balances emerging from trade transactions. “Persons resident outside India …
India’s RBI allows ‘vostro’ accounts to invest entire surplus in government securities Read More »
(Reuters) -India’s Ministry of Mines has introduced a bill in the lower house of Parliament to establish a national minerals exchange aimed at regulating the trading of minerals and metals, a copy of the bill showed. The proposed exchange would facilitate trading in minerals and metals under rules framed by the central government. It would …
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(Reuters) -India’s market regulator will further simplify regulations for foreign investors to encourage long-term capital flows into the country, the Securities and Exchange Board of India said in its annual report published on Tuesday. Last week, the SEBI proposed a single-window clearance and access to India’s securities markets for overseas investors such as government-owned foreign …
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By Nidhi Verma NEW DELHI (Reuters) -India’s state oil refiners will continue to use annual contracts to secure oil supplies and hedge against market volatilities as the future of cheap Russian purchases is in doubt, the oil ministry said in a report to parliament on Tuesday. India has emerged as the leading buyer of Russian …
Indian refiners using term deals as hedge against Russian supply risk, govt says Read More »
