Reuters India Business

By Akash Sriram (Reuters) – Zoomcar will launch a chauffeur-driven cab rental product in the southern Indian city of Bengaluru as it looks to test the waters in a larger part of the transportation market, the self-drive car-sharing platform told Reuters on Friday. The move comes months after the cash-strapped company terminated co-founder Greg Moran …

India’s Zoomcar to launch cab rental product to test demand in larger market Read More »

By Kashish Tandon (Reuters) -Indian shares plunged on Friday, with the benchmarks logging their first weekly decline in five weeks, as sentiment soured after the Federal Reserve projected fewer rate cuts next year, spurring an exodus of foreign funds. The Nifty 50 dropped 1.5% to 23,587.50 points at market close, while the BSE Sensex shed …

Indian equity benchmarks snap 4-week rising streak as Fed outlook hurts Read More »

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee slipped to its all-time low on Friday before turning course to end modestly higher, aided by likely dollar inflows, although its losing steak persisted into a seventh straight week. The rupee closed at 85.0150 against the U.S. dollar, up from its close at 85.07 in the …

Rupee hits record low before recovering slightly, weekly losses persist Read More »

By Rajendra Jadhav and Rahul Paswan (Reuters) – Gold demand in India remained subdued this week as volatile prices prompted potential buyers to delay purchases, while higher rates across China are expected to potentially offset upcoming seasonal demand. After gold prices became highly volatile over the past two weeks, buyers are now adopting a wait-and-see …

Asia Gold: Price fluctuation dampens demand in India Read More »

By Sherin Elizabeth Varghese (Reuters) – Gold prices edged higher on Thursday, erasing earlier gains after U.S. data reinforced market expectations that the Federal Reserve will take a cautious approach to policy easing in the year ahead. Spot gold was up 0.4% at $2,598.20 per ounce as of 01:51 p.m. ET (1851 GMT) and U.S. …

Gold erases gains after US data cements Fed’s hawkish stance Read More »

By Marianna Parraga HOUSTON (Reuters) -Venezuela’s state oil company PDVSA and India’s Reliance Industries have resumed an oil swap that had been paused due to U.S. sanctions on the South American country, an internal PDVSA document seen on Thursday showed. Reliance and other Indian refiners had imported Venezuelan oil earlier this year under a broad …

PDVSA, Reliance resume oil swap under US authorization, document shows Read More »

By Aditya Kalra NEW DELHI (Reuters) -India’s antitrust body has raided some offices of alcohol giants Pernod Ricard and Anheuser-Busch InBev as it investigates accusations of price collusion with retailers in a southern state, sources familiar with the matter said. Wednesday’s surprise raids by the Competition Commission of India (CCI) targeted offices in the city …

India antitrust body raids Pernod, AB InBev in liquor industry crackdown, sources say Read More »