By Manoj Kumar and Shivangi Acharya NEW DELHI (Reuters) -India’s merchandise trade deficit in November widened to a record level, led by a surge in gold imports, while exports fell due to weaker global demand. The merchandise trade deficit in November stood at $37.84 billion, data released by the commerce ministry showed on Monday, much …
Surge in gold imports pushes India’s Nov trade deficit to record levels Read More »
By Praveen Paramasivam (Reuters) -India’s Tata Consumer Products will push back plans for some new Starbucks store openings until later in its existing schedule as fewer customers are walking into its cafes in the world’s most populous country, its top boss said on Monday. “We will calibrate for the short term — maybe instead of …
India’s Tata faces pressure in Starbucks joint venture as consumers cut back Read More »
By Hritam Mukherjee and Kashish Tandon (Reuters) -India’s benchmark equity indexes fell on Monday, as uncertainty about the U.S. interest rate trajectory beyond the reduction expected this week weighed on IT companies, while metal stocks fell after underwhelming economic data from top consumer China. The Nifty 50 ended down 0.4% at 24,668.25 points, while the …
Indian equity benchmarks slip as Fed rate trajectory worries hit IT stocks Read More »
NEW DELHI (Reuters) -India’s wholesale inflation slowed in November to 1.89% year-on-year, easing from the previous month, due to a smaller increase in food prices, government data showed on Monday. The wholesale inflation rate, a proxy for producer prices, last month came in lower than the 2.2% forecast by economists in a Reuters poll, and …
India’s November wholesale inflation slows to 1.89% y/y Read More »
(This Dec. 13 story has been corrected to say ‘outflows’, not ‘overflows’, in paragraph 7) By Manoj Kumar NEW DELHI (Reuters) – India should do more to tax its super-rich given its high levels of inequality, French economist and author Thomas Piketty said on Friday. The writer of the best-selling book “Capital in the 21st …
India must do more to tax its super-rich, France’s Piketty says Read More »
By Anant Chandak BENGALURU (Reuters) – India’s private sector output grew at the fastest pace in four months, preliminary readings from a survey showed, helping the economy end 2024 on a positive note underpinned by sturdier demand in services and manufacturing and record jobs growth. Asia’s third-largest economy grew a softer 5.4% last quarter, but …
By Dharamraj Dhutia and Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee and government bonds will take cues from the Federal Reserve’s policy decision this week, with investors keeping an eye out for hawkish revisions to future U.S. interest rate projections. The rupee closed at 84.7875 against the U.S. dollar on Friday, down 0.1% on …
Indian rupee, bonds to be guided by Fed policy decision Read More »
By Nimesh Vora and Jaspreet Kalra MUMBAI (Reuters) -The Reserve Bank of India’s efforts to slow the rupee’s decline have been relentless but its already-stretched strategy is now challenged by weak economic growth, tepid foreign inflows and a buoyant dollar’s threat to Asian currencies, especially the Chinese yuan. The dollar index has rallied more than …
Domestic, global headwinds challenge Indian central bank’s fx intervention Read More »
By Anjana Anil (Reuters) – Gold prices fell on Friday after bullion hit a more than five-week high in the previous session and as the U.S. dollar gained, but prices were on track for a weekly rise on expectations of a Federal Reserve rate cut next week. Spot gold was down 1.1% at $2,652.29 per …
Gold slips, but set for weekly rise on potential US Fed rate cut Read More »
(Reuters) -India’s Reliance Industries said on Friday it has bought a 74% stake in an industrial area developer, situated in the country’s financial hub of Mumbai, for 16.28 billion rupees ($192 million). Navi Mumbai IIA was renamed from Navi Mumbai Special Economic Zone after the state government approved to convert it into an integrated industrial …
Ambani’s Reliance buys $192 million stake in Mumbai industrial city Read More »
