Reuters India Business

By Ashitha Shivaprasad and Sherin Elizabeth Varghese (Reuters) – Gold prices slipped more than 1% on Friday after a stronger-than-expected U.S. jobs report dampened hopes for imminent Federal Reserve rate cuts this year, while silver soared to its highest level since 2012. Spot gold fell 1.1% to $3,316.13 an ounce, as of 02:28 p.m. ET …

Gold falls over 1% as strong US jobs data clouds outlook for rate cuts Read More »

(Reuters) -India’s fuel demand rose to 21.32 million metric tons in May, its highest in more than a year, Oil Ministry data showed on Friday. WHY IT’S IMPORTANT India is the world’s third-largest consumer and importer of oil. The data is a proxy for the country’s oil demand. BY THE NUMBERS On a yearly basis, …

India’s fuel demand in May hit highest in over a year Read More »

MUMBAI (Reuters) -India’s central bank has released final regulations for gold lending and relaxed norms for small-ticket loans, a statement by the Reserve Bank of India showed on Friday. In April, the Reserve Bank of India had proposed stricter rules for monitoring and disbursement of gold loans, which are often used by low-income borrowers. The …

India cenbank eases rules for small-ticket gold loans Read More »

By Aditya Kalra NEW DELHI (Reuters) -Aditya Birla Group’s Indian paints venture has filed an antitrust complaint against market leader Asian Paints for allegedly abusing its market position, three sources said, a case that could lead to a stand off between the two industry rivals. Asian Paints is India’s biggest player with a 52% market …

Birla’s paints unit files antitrust case against India’s Asian Paints, sources say Read More »

By Aditi Shah and Aditya Kalra NEW DELHI (Reuters) -Elon Musk’s Starlink has received a licence to launch commercial operations in India from the telecoms ministry, two sources told Reuters on Friday, clearing a major hurdle for the satellite provider that has long wanted to enter the South Asian country. The approval is good news …

Musk’s Starlink gets India licence to offer satcom services, sources say Read More »

By Clara Denina LONDON (Reuters) -Diamond giant De Beers has drawn interest from at least six consortia, including commodities billionaire Anil Agarwal, Indian diamond firms and Qatari investment funds, sources close to the companies told Reuters. As Anglo American pivots toward its core assets in copper and iron ore, it is divesting De Beers, although …

Anglo’s De Beers attracts interest from India’s Agarwal, Qatari funds, sources say Read More »

By Vivek Mishra and Pranoy Krishna BENGALURU (Reuters) – The Reserve Bank of India will keep its key interest rate on hold at 5.50% until at least the end of this fiscal year after its big 50 basis-point cut on Friday to support slowing urban household consumption, a snap Reuters poll of economists found. Despite …

RBI’s bigger-than-expected rate cut is its last move for the year, economists say: Reuters poll Read More »