NEW DELHI (Reuters) – Elon Musk said Starlink satellite internet is inactive in India, his first comments since authorities seized two of the company’s devices in recent weeks, one in an armed conflict zone and another in a drug smuggling bust. Starlink is seeking approval in India to provide satellite broadband services and the Musk-owned …
Elon Musk says Starlink inactive in India after second device seized Read More »
By Kashish Tandon (Reuters) -Shares of India’s Vishal Mega Mart surged 41% in debut trade on Wednesday, giving the budget retailer a valuation of $5.8 billion as investors bet on the company’s growth prospects and resilience to challenges faced by larger rivals. The stock, which listed at 104 rupees on the National Stock Exchange, rose …
India’s Vishal Mega Mart jumps 41% in trading debut to $5.8 billion valuation Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee dropped to a record low on Wednesday, weighed by persistent demand for U.S. dollars from importers and speculators ahead of the Federal Reserve’s policy decision. The rupee dropped to 84.9325, inching past its prior low of 84.93 hit in the previous session. “Natural dollar demand (from …
Indian rupee slips to lifetime low on dollar bids as Fed policy review looms Read More »
By Sherin Elizabeth Varghese (Reuters) – Gold slipped on Tuesday under pressure from a strengthening U.S. dollar and climbing Treasury yields as investors focused on the Federal Reserve’s final policy meeting of the year with growing expectations of a gradual pace of rate cuts in 2025. Spot gold was down 0.2% at $2,647.81 per ounce, …
Gold retreats as traders see slower Fed rate cuts in 2025 Read More »
BENGALURU (Reuters) -India’s central bank on Tuesday lifted restrictions on two Edelweiss Group companies that barred them from acquiring financial assets or undertaking structured transactions. The Reserve Bank of India (RBI) said it decided to lift the curbs after the companies engaged with the regulator over the concerns and after it was satisfied with the …
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(Reuters) – India’s Ambuja Cements will merge two of its recently purchased units into the company, it said on Tuesday, in a bid to streamline the structure of the Adani Group’s cement businesses and simplify compliance requirements. Ambuja acquired Penna Cement in a $1.25 billion deal in June, while it had picked up a majority …
Adani-owned Ambuja Cements to merge with two units Read More »
By Manoj Kumar NEW DELHI (Reuters) – India is likely to impose a “safeguard duty” or temporary tax of up to 25% on steel imports, industry and government sources said, to help to curb cheap imports from top producer China. The proposal gained broad support at a meeting chaired by commerce minister Piyush Goyal on …
India plans up to 25% temporary tax to curb cheap Chinese steel imports Read More »
LONDON (Reuters) -The British government on Monday approved Indian group Bharti Global’s purchase of a 24.5% stake in London-listed BT, following a detailed national security assessment and assurances from the telecoms company. The purchase of the shares, worth 3.2 billion pounds, was made from the previous top investor, Patrick Drahi’s Altice, under the terms set …
UK approves Indian group Bharti’s purchase of 24.5% stake in BT Read More »
(Reuters) – India’s Bharat Petroleum Corp plans to expand its refining capacity to 45 million tons per year (tpy) by 2028 from the current 35.3 million tpy, its head of refining, Sanjay Khanna, said on Tuesday at an industry event. As part of the plan, BPCL – the country’s second-biggest fuel retailer – will increase …
India’s BPCL plans to expand refining capacity by 2028 Read More »
NEW DELHI (Reuters) – The Indian economy will see healthy growth in coming quarters, and the slowdown in growth from July-September was a “temporary blip”, Finance Minister Nirmala Sitharaman said on Tuesday. India’s economic growth slowed more than expected in July-September, expanding by only 5.4% year-on-year. “The government believes the trend in Q2 of 2024-25 …
Indian finance minister says Q2 growth slowdown a ‘blip’, higher growth coming Read More »
