By Sarah Qureshi (Reuters) – Gold prices rose on Friday as a weaker U.S. dollar and ongoing geopolitical and economic uncertainty boosted demand for the safe-haven metal, while platinum prices eased after reaching their highest level since 2014. Spot gold rose 0.4% to $3,351.18 per ounce, as of 0153 p.m. EDT (1753 GMT), after falling …
Safe-haven gold gains on global uncertainty, weaker dollar Read More »
By Chandini Monnappa and Sethuraman N R (Reuters) -Indian billionaire Mukesh Ambani’s Reliance Industries reported a better-than-expected 78% surge in first-quarter profit on Friday, driven by strong growth across key businesses and gains from the sale of its stake in Asian Paints . The profit jump was underpinned by a recovery in Reliance’s core oil-to-chemicals …
Ambani’s Reliance tops profit estimates on asset sale gains Read More »
By Francesca Landini, Elvira Pollina, Giulio Piovaccari and Giuseppe Fonte MILAN (Reuters) -Italy’s Agnelli family is in talks over the possible sale of truck maker Iveco, three sources told Reuters, with two mentioning Tata Motors as a potential buyer. India’s Tata Motors has approached Exor, the Agnellis’ investment company, over its controlling stake in Iveco …
Exclusive-Agnellis in talks over Iveco sale, Tata Motors has made approach, sources say Read More »
(Reuters) -IndusInd Bank will consider a proposal to raise funds by issuing long-term bonds at its board meeting on July 23, the Indian lender said on Friday. The board will consider issuing the bonds on a private placement basis and whether to increase capital through depository receipts and qualified institutional placements. The bank took a …
By Manoj Kumar and Alistair Smout NEW DELHI/LONDON (Reuters) -India and Britain are expected to seal a long-awaited free trade deal next week, two Indian government sources said, granting Indian textiles and electric vehicles some duty-free access to the UK market and easing British exports of whisky, cars and food. In May, both countries announced …
By Neha Arora and Anuran Sadhu (Reuters) -India’s top steelmaker JSW Steel flagged concerns of cheaper steel imports on Friday after the company beat first-quarter profit estimates. Indian steelmakers have been under pressure from a surge in low-cost shipments primarily from China, prompting production cuts and job concerns across the industry. The government imposed a …
India’s JSW Steel says low priced imports a concern after profit beats estimates Read More »
By Bharath Rajeswaran and Vivek Kumar M (Reuters) -India’s equity benchmarks fell on Friday, logging a third straight weekly decline, as weak earnings from key financial and IT companies dampened sentiment while global trade uncertainty lingered. The Nifty 50 fell 0.57% to 24,968.4 points on the day, while the BSE Sensex shed 0.61% to 81,757.73. …
Financials, IT drag India’s equity benchmarks to third weekly loss Read More »
(Reuters) -Reliance Industries said on Friday its retail arm has bought the Kelvinator brand in India from Sweden’s Electrolux, as the Mukesh Ambani-led group deepens its presence in the fast-growing consumer durables market. Reliance Retail has been expanding its private-label portfolio and growing its footprint in home electronics and appliances, a segment boosted by rising …
Reliance buys home appliances maker Kelvinator from Sweden’s Electrolux Read More »
(Reuters) -Hindustan Zinc posted a bigger-than-expected first-quarter profit on Friday, as strong demand for the metal helped cushion the impact of prices that were pressured by geopolitical uncertainties. India’s top refined zinc producer’s consolidated net profit fell 4.7% to 22.34 billion rupees ($259.2 million) for the quarter ended June 30, beating analysts’ estimate of 21.02 …
India’s Hindustan Zinc beats quarterly profit estimates Read More »
By Ashwin Manikandan (Reuters) -India’s central bank is close to finalising rules for banks and financial institutions to disclose and manage risks from climate change, three sources aware of the matter said. The move runs counter to several top global banks including JP Morgan, Citibank, Morgan Stanley and HSBC, which have decided to scale back …
