NEW DELHI (Reuters) -It is time for India to allow 100% foreign direct investment (FDI) in insurance, the head of the country’s insurance regulator said at the Business Standard newspaper’s BFSI summit on Friday. To stick to India’s target of “insurance for all by 2047, we need a lot of capital…we need a lot of new entities …
Time for India to allow 100% FDI in insurance, regulator’s head says Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed near a record low on Friday, as likely intervention by the central bank countered the impact of outflows from local stocks. The rupee was at 84.37 as of 11:40 a.m. IST, just shy of its all-time low of 84.3775 hit in the previous …
Rupee flat as cenbank intervention helps offset equity outflows pressure Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee fell to its weakest level on record on Thursday, hurt by outflows from local equities and on expectations that Donald Trump’s victory in the U.S. presidential race may boost the dollar going forward. The rupee fell to an all-time low of 84.3775 during the session before …
Rupee hits record low on equity outflows, strong dollar outlook Read More »
By Siddhi Nayak MUMBAI (Reuters) – Indian lenders are bracing for another wave of defaults in their microfinance portfolios in the second half of the fiscal year after the banking regulator recently further tightened rules for such loans, four bankers said. The default rates in microfinance loans — collateral-free loans to those with annual income …
SOCHI, Russia (Reuters) – Russia has increased fertilizer exports to India and is ready to increase it further, Russian President Vladimir Putin said on Thursday while addressing the Valdai Discussion Club. At the start of 2024, Russia was supplying a third of India’s fertilizer imports. (Reporting by Vladimir Soldatkin; editing by Guy Faulconbridge)
By Brijesh Patel and Anjana Anil (Reuters) – Gold prices rose more than 1% on Thursday, helped by a retreat in the U.S. dollar, while the Federal Reserve cut interest rates by a quarter of a percentage point as widely expected. Spot gold was up 1.2% at $2,691.36 per ounce as of 2:22 p.m. EST …
Gold holds firm after US Fed rate cut, softer dollar Read More »
(Reuters) – Global physically-backed gold exchange-traded funds (ETFs) saw inflows for the sixth straight month in October, with year-to-date flows turning positive for the first time this year, the World Gold Council (WGC) said on Thursday. Demand was supported by North American and Asian flows, the WGC added. As geopolitical tensions rise and market uncertainties …
Gold ETF demand turns positive for year-to-date, says WGC Read More »
(Reuters) – Cummins India, a unit of U.S.-based truck engine maker Cummins, reported a higher second-quarter profit on Thursday, helped by robust demand for its engines and power generators. The diesel and natural gas engine maker’s consolidated profit after tax came in at 4.49 billion rupees ($53.3 million) for the three months ended Sept. 30, …
Cummins India’s quarterly profit rises on strong demand for power generators Read More »
(Reuters) – Embassy Office Parks, India’s largest real estate investment trust (REIT), on Thursday named Ritwik Bhattacharjee as interim CEO with immediate effect, days after the country’s markets regulator directed to suspend its former chief. On Tuesday, the trust announced that its then CEO Aravind Maiya would step down, following the Securities and Exchange Board …
India’s Embassy REIT names Ritwik Bhattacharjee as interim CEO after regulatory action Read More »
(Reuters) – India’s Reliance Power said on Thursday that it will legally challenge a three-year ban by the country’s top renewable energy agency from participating in its clean energy project tenders. Solar Energy Corporation of India Limited (SECI) said on Wednesday that it had banned Reliance Power and its units after the state-owned agency found …
Reliance Power to legally challenge Indian clean energy agency’s ban Read More »
