LONDON (Reuters) -Indian tycoon Vijay Mallya on Wednesday lost an appeal against a bankruptcy order made by London’s High Court over a more than 1 billion-pound ($1.28 billion) debt to lenders including the State Bank of India. Mallya, who lives in Britain, has been embroiled in a long legal battle with lenders – as well …
Tycoon Vijay Mallya loses appeal against UK bankruptcy order Read More »
By Manoj Kumar and Ruma Paul NEW DELHI/DHAKA (Reuters) – India has withdrawn a transhipment facility for Bangladesh’s export cargoes to other countries via its land borders, in a fresh blow to Dhaka which is already reeling from steep U.S. tariffs on its goods. The move is expected to disrupt Bangladesh’s readymade garment exports and …
India withdraws transhipment facility for Bangladesh exports via land borders Read More »
By Shivam Patel NEW DELHI (Reuters) -India has approved the purchase of 26 Rafale fighter jets from France for its navy, two people aware of the decision said on Wednesday, a move aimed at deterring threats as rival China grows its naval presence in the Indian Ocean. A deal is expected to be signed over …
India approves purchase of 26 French Rafale jets for navy, sources say Read More »
By Mayank Bhardwaj and Rajendra Jadhav NEW DELHI (Reuters) – India has bought 2.08 million metric tons of new-season wheat from domestic farmers since March 15, up 44.4% from last year, government sources said, indicating a robust crop that will help New Delhi shore up its depleted reserves and avoid imports. The government-backed Food Corporation …
India’s wheat procurement begins strong, signalling robust harvest Read More »
By Siddhi Nayak MUMBAI (Reuters) -India’s central bank on Wednesday proposed stricter guidelines for lenders disbursing gold-secured loans, aiming to enhance underwriting processes, improve collateral management and monitor the end-use of such funds. Banks’ gold loans jumped 30% between September and February, sharply outpacing the growth in overall loans that was curtailed by tighter norms …
By Shivangi Acharya (Reuters) -India’s divestment secretary urged mutual funds on Wednesday to include state-run firms in stock portfolios, saying they had paid record dividends of 1.5 trillion rupees ($17.31 billion) in the financial year 2024/25. Public sector firms distributed about a quarter of overall dividends, even though they accounted for just a tenth of …
India urges mutual funds to invest in state-run firms paying record dividends Read More »
(Reuters) – Indian shrimp exporter Coastal Corporation said on Wednesday most of its U.S. buyers were willing to absorb the higher costs stemming from the new tariffs, but added it was also exploring increasing exports to China, Russia and Canada. U.S President Donald Trump a 26% reciprocal tariff on India last week as part of …
AMSTERDAM (Reuters) -Tata Steel on Wednesday said it will cut around 1,600 jobs in the Netherlands, in a drive to increase profitability amidst fierce competition from China and rising U.S. import tariffs. The move will cut Tata’s Dutch workforce by roughly 20%, mainly at the large steel plant at IJmuiden, on the coast west of …
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee declined to a three-week low on Wednesday, tracking the weakness in the Chinese yuan as sweeping U.S. tariffs came into effect, including a 104% levy on China, and fuelled worries of a slowdown in global growth. The rupee closed at 86.6875 per U.S. dollar, down nearly …
Rupee bogged down by weaker Chinese yuan as US tariffs kick in Read More »
By Bharath Rajeswaran (Reuters) -Indian shares fell on Wednesday, mirroring a global market rout triggered by U.S. President Donald Trump’s tariffs, as a widely expected rate cut and dovish shift by the Reserve Bank of India did little to lift sentiment. The NSE Nifty 50 dropped 0.61% to 22,399.15, while the BSE Sensex declined 0.51% …
Indian shares mirror global rout as trade war overshadows RBI’s moves Read More »
