By Praveen Paramasivam CHENNAI (Reuters) – India’s southern state of Tamil Nadu will offer a subsidy of 20,000 rupees ($230) to select gig workers to buy e-scooters, a minister said on Friday, as more young people sign up with online platforms to deliver food and groceries. Gig workers, or those outside traditional employer-employee relationships, are …
Indian state to subsidise e-scooter purchases by some gig workers Read More »
By Aditi Shah NEW DELHI (Reuters) – Skoda Auto plans to manufacture electric cars in India and will invest in the country by itself if its search for a local partner fails, the Czech carmaker’s CEO said, as its parent Volkswagen Group fights a $1.4 billion tax demand case. VW’s local unit Skoda Auto Volkswagen …
By Ashitha Shivaprasad and Brijesh Patel (Reuters) – Gold prices raced to a record high on Thursday, within touching distance of the key milestone of $3,000 per ounce with momentum driven by elevated tariff uncertainty and bets on monetary policy easing by the Federal Reserve. Spot gold climbed 1.6% to $2,977.36 an ounce, as of …
Gold scales record high, sprints towards $3,000 milestone Read More »
(Reuters) – Indian banks and non-bank finance companies (NBFCs) should consider setting up a common pool of bankable projects for climate-related financing, the country’s central bank chief Sanjay Malhotra said on Thursday. Speaking at a Reserve Bank Of India (RBI) event in Delhi, Malhotra said one of the major constraints in having sufficient climate-related financing …
By Sarita Chaganti Singh and Arpan Chaturvedi NEW DELHI (Reuters) – The Indian government has asked a local court to deliver a summons issued by the U.S. Securities and Exchange Commission to billionaire Gautam Adani over alleged securities fraud and a $265 million bribery scheme, according to a letter seen by Reuters. The summons, which …
India to deliver US summons to Adani for alleged bribery Read More »
MUMBAI (Reuters) – Technical issues that blocked some traders’ access to the foreign exchange trading platform run by the London Stock Exchange Group have been resolved, the financial technology and data provider said on Thursday. Some customers experienced temporary access disruptions with forex trading in India from 02:15 GMT to 06:26 GMT on Thursday “due …
LSEG says FX trading system’s technical issue in India resolved Read More »
By Bharath Rajeswaran, Siddhi Nayak and Vivek Kumar M BENGALURU/MUMBAI (Reuters) – As India’s longest equity slump in nearly three decades wipes out roughly $1 trillion in market capitalization, the major blow to retail investors is denting consumer spending and threatening to further slow growth in the world’s fifth-largest economy. Investors trying to catch their …
By Rishika Sadam HYDERABAD (Reuters) -India’s Apollo Hospitals will invest more in artificial intelligence tools to ease the workload for its doctors and nurses by automating routine tasks, including medical documentation, a top executive told Reuters. Indian hospitals, which grapple with overworked doctors and nurses handling heavy patient loads, are increasingly using AI to boost …
India’s Apollo Hospitals bets on AI to tackle staff workload Read More »
(Reuters) – U.S. investment firm Blackstone will purchase a 40% stake in Indian real estate developer Kolte-Patil Developers in a deal worth 11.67 billion rupees ($134 million), the latter said on Thursday. Kolte-Patil will allot a Blackstone entity 14.3% preferential shares in a deal worth 4.17 billion rupees, while its controlling shareholders will sell another …
Blackstone to buy 40% stake in India’s Kolte-Patil Developers for $134 million Read More »
By Dharamraj Dhutia MUMBAI (Reuters) – India’s Jio Finance, a wholly-owned unit of Jio Financial Services, has tapped the debt market with its maiden commercial paper (CP) issuance, ahead of its debut bond sale later this month, three merchant bankers said on Thursday. The non-banking finance company has issued three-month CPs at a yield of …
