By Anushree Mukherjee (Reuters) – Gold fell 1% on Thursday as stronger-than-expected U.S. payroll data cemented expectations that the Federal Reserve is unlikely to cut interest rates as early as previously anticipated, denting the metal’s appeal. Spot gold fell 0.9% to $3,328.63 per ounce as of 0200 p.m. EDT (1800 GMT), after falling over 1% …
Gold falls 1% as strong US payrolls data douses rate cut hopes Read More »
(Reuters) -India’s AWL Agri Business, formerly known as Adani Wilmar, reported a 23% rise in its first-quarter standalone revenue on Thursday, as higher edible oil prices offset muted consumer demand during what the company called a “challenging quarter”. Higher prices in the edible oils segment, which account for nearly 80% of AWL Agri’s overall revenue, …
India’s AWL Agri reports 23% rise in quarterly revenue on higher edible oil prices Read More »
By Polina Devitt and Anushree Mukherjee LONDON (Reuters) -Platinum prices have limited room to rise further after a record quarterly rally, analysts and traders said, with Chinese imports expected to soften and South African output to recover against a backdrop of still-muted auto sector demand. Prices of the metal surged 36% in the second quarter …
Analysis-Platinum prices have limited upside after June’s stellar rally Read More »
By Rajendra Jadhav MUMBAI (Reuters) -U.S. and India trade negotiators were pushing on Wednesday to finalise a tariff-reducing deal ahead of President Donald Trump’s July 9 negotiating deadline, but disagreements over U.S. dairy and agriculture remained unresolved. WHY ARE FARM GOODS IMPORTS SENSITIVE IN INDIA? Agriculture and its allied areas contribute just 16% to India’s $3.9 …
Why are farm goods holding up the India-U.S. trade deal? Read More »
(Reuters) -India’s central bank said on Thursday it will conduct a seven-day variable rate reverse repo auction worth one trillion rupees ($11.71 billion) on July 4, following a review of liquidity conditions in the banking system. India’s banking system liquidity surplus hit a three-year high and stood at 3.75 trillion rupees on July 2, as …
India cenbank announces seven-day rate reverse repo auction on July 4 Read More »
(Removes a line from sixth graph to show that beauty business won’t be a part of new entity) MUMBAI (Reuters) -Indian billionaire Mukesh Ambani’s Reliance Industries said it will spin off its consumer goods unit into a new entity to allow the fast-growing business to attract investors beyond those backing its retail unit. Reliance’s consumer …
Ambani’s Reliance to spin off India consumer goods business into new unit Read More »
NEW DELHI (Reuters) -India’s defence acquisition council has approved the start of a process to acquire arms and military equipment worth 1.05 trillion rupees ($12.31 billion), the defence ministry said on Thursday. The proposals include armoured recovery vehicles and electronic warfare system for the three services and surface-to-air missiles, among others, the ministry said. ($1 …
India defence panel starts process to buy arms worth $12.3 billion Read More »
(Reuters) -Private equity firm Carlyle Group is preparing to offload up to a 10% stake in India’s Piramal Pharma, online news portal Moneycontrol reported on Thursday, citing sources. The U.S.-based firm could earn in the range of 26 billion rupees ($304.8 million) to 27 billion rupees from the sale via block trades, the report added. …
Carlyle to sell up to 10% stake in Piramal Pharma, Moneycontrol reports Read More »
By Vivek Kumar M and Bharath Rajeswaran (Reuters) -Indian shares inched lower on Thursday as continued profit taking in financials overshadowed optimism over easing global trade tensions. The Nifty 50 fell 0.19% to 25,405.3 points and the BSE Sensex lost 0.2% to 83,239.47. Both benchmarks had risen around 0.5% intraday. Financials , heaviest sector on …
Indian stocks down as profit booking in financials overshadows trade deal optimism Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee touched its strongest level in a month on Thursday, lifted by dollar sales from foreign banks and cutting of bearish bets on the local currency, while optimism surrounding a U.S.-India trade deal also aided sentiment. The rupee rose to a peak of 85.20, its best level …
Inflows boost rupee to one-month high; trade deal optimism aids sentiment Read More »
