BENGALURU (Reuters) – Logistics firm Ecom Express on Thursday filed for an initial public offering (IPO) worth up to 26 billion rupees ($310 million), its draft papers showed. The IPO will consist of a fresh issue of shares worth up to 12.85 billion rupees while existing investors will offload shares aggregating to 13.16 billion rupees. …
Indian logistics firm Ecom Express files for $310 million IPO Read More »
(Reuters) – Britain will grant 13.5 million pounds ($17.31 million) in funding to support Tata Steel’s workers and supply chain businesses at Port Talbot in South Wales facing job losses, the government said on Thursday. Workers suspended a planned all-out strike after Britain’s biggest steel producer warned that it would bring forward the planned closure …
UK provides $17.3 million to protect Tata Steel’s Port Talbot workers Read More »
By Aditya Kalra NEW DELHI (Reuters) -Indian Prime Minister Narendra Modi met Foxconn Chairman Young Liu to discuss the latter’s investment plans on Wednesday, weeks after New Delhi started investigating possible discriminatory hiring practices at a Foxconn plant following a Reuters report. Modi “highlighted the wonderful opportunities India offers in futuristic sectors” to Liu at …
India’s Modi meets Foxconn chief amid govt probe into hiring practices Read More »
By Rahul Paswan and Brijesh Patel (Reuters) – Gold prices fell 1% on Wednesday after data showed U.S. consumer prices rebounded as expected in July, pouring water on expectations for a sizeable rate cut from the Federal Reserve next month. Spot gold fell 1% to $2,440.47 per ounce by 01:45 p.m. EDT (1745 GMT). U.S. …
Gold slips 1% as large rate-cut hopes dim after US CPI data Read More »
By Nikunj Ohri and Manoj Kumar NEW DELHI (Reuters) – The Indian and Russian central banks have renewed discussions to set a mechanism to expand local currency trade, in a move to iron out payment issues after a surge in bilateral trade since the war on Ukraine in 2022, a government source said. The discussions …
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) – Carlsberg doesn’t expect any dramatic changes to rules for liquor ads in India, the brewer’s CEO said on Wednesday, after reports the country is set to announce sweeping rules that will bar even so-called surrogate ads. India bans direct advertising of liquor, but companies often use surrogate ads that …
Carlsberg doesn’t see dramatic curbs on India liquor ads Read More »
BENGALURU (Reuters) – Glenmark Pharmaceuticals reported a more than two-fold growth in first-quarter profit on Wednesday, helped by strong demand for its drugs and a marginal decrease in costs. The drugmaker reported consolidated profit before exceptional items and taxes of 4.62 billion rupees ($55 million) for the quarter ended June 30, from 2.03 billion rupees …
India’s Glenmark Pharma posts higher Q1 profit on strong demand Read More »
NEW DELHI (Reuters) -Indian top court’s order that allows states to collect past tax dues from mining companies will have a large financial impact on these firms and affect investments, a senior mines ministry official, who did not want to be named, told Reuters on Wednesday. The order is expected to have an impact of around …
By Arpan Chaturvedi NEW DELHI (Reuters) -India’s top court on Wednesday revived insolvency proceedings against education technology company Byju’s following a lawsuit by a trust representing U.S. lenders who say they are owed $1 billion by the company. The Supreme Court order is a setback for founder Byju Raveendran whose eponymous online coaching company was …
US lenders push Indian ed-tech giant Byju’s towards insolvency Read More »
NEW DELHI (Reuters) – India’s merchandise trade deficit in July was wider than expected, government data showed on Wednesday. The merchandise trade deficit stood at $23.5 billion in July, according to a Reuters calculation, higher than economists’ expectation of $21.35 billion, according to a Reuters poll. In June, the trade deficit was $20.98 billion. India’s …
India’s July merchandise trade deficit at $23.5 billion Read More »
