By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee leaped higher on Monday, with persistent dollar sales from foreign banks helping the local unit claw back all of its losses in 2025 so far. The rupee rose to a peak of 85.50 during the session, strengthening past levels last seen at the end of 2024. …
Rupee soars to wipe out year’s losses on strong dollar inflows Read More »
By Anant Chandak BENGALURU (Reuters) – Growth in India’s overall business activity softened in March as robust manufacturing expansion failed to offset a slowdown in the services sector, a private survey showed on Monday. HSBC’s flash India Composite Purchasing Managers’ Index, compiled by S&P Global, slipped to 58.6 in March from February’s final reading of …
India’s business growth dipped in March due to weaker services demand, PMI shows Read More »
By Arpan Chaturvedi and Aditya Kalra NEW DELHI (Reuters) -India’s government has told a court in Mumbai that agreeing to Volkswagen’s demand to quash a $1.4 billion tax bill would have “catastrophic consequences” and encourage companies to withhold information and delay inquiries, court documents show. India’s highest-ever demand for back taxes related to import duties …
India says quashing Volkswagen’s $1.4 billion tax bill would be ‘catastrophic’ Read More »
By Aditya Kalra and Siddhi Nayak NEW DELHI/MUMBAI (Reuters) -India’s IndusInd Bank has appointed Grant Thornton to conduct a forensic review into accounting lapses detected this month and to check if there is any evidence of fraud or internal misstatements, said two people with direct knowledge of the matter. IndusInd is India’s fifth-largest private lender …
India’s IndusInd taps Grant Thornton for fraud checks in accounting case, sources say Read More »
By Dharamraj Dhutia and Nimesh Vora MUMBAI (Reuters) – The Indian rupee’s direction this week will be determined by the continuation of dollar inflows and the degree to which the central bank permits the currency to strengthen, while bond yields are expected to decline further. The rupee rallied 1.2% to 85.9725 per U.S. dollar last …
Indian rupee eyes flows, RBI; bond yields seen lower in last week of fiscal 2025 Read More »
(Reuters) – OpenAI and Meta Platforms have held separate discussions with India’s Reliance Industries over potential partnerships to expand their artificial intelligence offerings in the country, technology news website The Information reported on Saturday. A possibility being discussed involved a relationship between Reliance Jio and OpenAI to distribute ChatGPT, according to The Information, which cited …
OpenAI, Meta in talks with Reliance for AI partnerships, The Information reports Read More »
(Reuters) – India will remove a 20% duty on onion exports starting April 1, the government said on Saturday. The move follows nearly five months of export restrictions, including minimum export prices and outright bans, imposed to ensure domestic availability. The 20% export duty had been in effect since Sept. 13, 2024. The government said …
India to scrap 20% onion export duty from April 1 Read More »
NEW DELHI (Reuters) – India’s key manufacturing scheme received investments of nearly $19 billion as of November last year, the trade ministry said on Saturday, a day after Reuters reported New Delhi will let the $23-billion incentive program lapse amid disappointing results. The incentive scheme will not be expanded beyond 14 pilot sectors and production …
India draws investments worth $19 billion under key production scheme, government says Read More »
By Aditya Kalra NEW DELHI (Reuters) – India’s antitrust raids this week on media buying agencies followed tip-offs under a leniency scheme that reduces penalties for companies providing evidence, three people familiar with the matter told Reuters. Japan’s Dentsu was at least one firm that has applied for the scheme, one of the people said. …
India’s ad industry raids followed tip-offs under leniency scheme, sources say Read More »
By Anmol Choubey (Reuters) – Gold fell 1% on Friday due to a stronger dollar and profit-taking, although lingering geopolitical and economic uncertainties, and U.S. Federal Reserve rate cut prospects kept bullion on track for a third consecutive weekly rise. Spot gold was down 1% at $3,015.43 an ounce at 01:43 p.m. ET (1743 GMT). …
Gold dips on higher dollar, still eyes third weekly gain Read More »
