By Anmol Choubey (Reuters) – Gold prices continued their record run on Wednesday, as investors sought the safe-haven asset amid escalating concerns about a U.S.-China trade war and the potential impact on economic growth. Spot gold was up 0.8% at $2,865.61 per ounce by 01:59 p.m. ET (1859 GMT), after hitting a record high of …
Gold adds to record rally as trade war anxiety lifts demand Read More »
JOHANNESBURG (Reuters) -South Africa’s rand gained against a weaker dollar on Wednesday, as investors awaited President Cyril Ramaphosa’s national address on Thursday and closely watched developments between the U.S. and China in their dispute over tariffs. At 1507 GMT, the rand traded at 18.55 against the U.S. dollar, about 0.7% stronger than its previous close. …
South African rand firms ahead of president’s address Read More »
(Reuters) – Cummins India reported a 12% rise in third-quarter profit on Wednesday, helped by steady demand for its power generators. The company, a unit of U.S.-based truck engine maker Cummins, said its profit climbed to 5.58 billion rupees (about $64 million) in the three months to Dec. 31 from 4.99 billion rupees a year …
Cummins India’s Q3 profit climbs on steady demand Read More »
(Reuters) – India’s Kansai Nerolac Paints posted subdued quarterly earnings on Wednesday but said demand should improve on the back of the federal budget’s consumption-boosting proposals. Indian paintmakers have been grappling with increased competition in the sector following Grasim Industries’ entry early last year. Moreover, shoppers have been cutting back on discretionary spending as they …
India’s Kansai Nerolac posts subdued earnings, expects budget to boost demand for paints Read More »
(Reuters) – India’s biggest winemaker Sula Vineyards reported a 35% fall in third-quarter profit on Wednesday, as demand took a hit from a slowdown in urban consumption. Sula’s consolidated net profit fell to 280.6 million rupees ($3.2 million) in the quarter ending Dec. 31, from 429.8 million rupees a year ago. Urban consumption fell to …
India’s Sula Vineyards posts lower Q3 profit on weak urban demand Read More »
(This Feb. 4 story has been refiled to reflect the day’s closing report) By Stephen Culp NEW YORK (Reuters) – U.S. stocks rallied on Tuesday, while gold reached new highs as global trade jitters kept investors guessing. All three major U.S. stock indexes gained momentum after last-minute negotiations resulted in one-month reprieves on President Donald …
Wall Street ends higher, tariff tumult tips gold to record high Read More »
NEW DELHI (Reuters) – Foreign companies have often struggled in India due to high tax demands related to duty evasion on imports or levies payable on big M&A transactions, leading to prolonged litigation at times. Here are some of the key past and current tax disputes involving foreign companies: KIA South Korea’s Kia has been …
Factbox-Foreign companies embroiled in tax disputes with India Read More »
(Reuters) – India’s Welspun Corp reported a lower third-quarter profit on Wednesday due to lacklustre demand for its pipes amid a slowdown in construction activity and delays in government projects. Its consolidated profit before share of profit from joint venture, associates and taxes dipped 4.4% to 3.05 billion rupees (about $35 million) for the October-December …
India’s Welspun Corp posts lower quarterly profit on tepid demand Read More »
(Reuters) -India’s Swiggy reported a wider quarterly loss on Wednesday, as the online platform poured money into its quick commerce business to compete with rivals Zomato and Zepto. The company reported a consolidated loss of 7.99 billion rupees ($91.40 million) for the third quarter ended Dec. 31, compared to a loss of 5.74 billion rupees …
India’s Swiggy reports wider loss as competition fuels investment surge Read More »
(Reuters) -BlackRock plans to hire nearly 1,200 people to expand its two support hubs in India, Bloomberg News reported on Tuesday, citing people familiar with the matter. The world’s largest asset manager wants to build out its artificial intelligence (AI) capabilities in India with the expansion, the report added. The iHubs, as the centers are …
BlackRock plans to hire 1,200 people in India ramp-up, Bloomberg News reports Read More »
