NEW DELHI (Reuters) – The Indian government approved on Saturday a pension scheme which will guarantee federal government employees 50% of their base salary as a pension, moving away from a current scheme where the payout is linked to market returns. The Modi government has been forced to reassess the current pension system, adopted after …
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By Anushree Ashish Mukherjee (Reuters) – Gold prices gained more than 1% on Friday as the dollar and Treasury yields retreated following comments from Federal Reserve Chair Jerome Powell that signalled an interest rate cut in September. Spot gold rose 1.2% to $2,512.63 per ounce by 01:44 p.m. ET (1744 GMT), but was off a …
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BENGALURU (Reuters) – Peru’s gold exports to India are set to jump 36% from a year ago to a record $3 billion in 2024, driven by rising demand from the world’s second-biggest consumer, a senior government official said on Friday. India’s gold imports from Peru in the first half of 2024 rose 81% from a …
Peru’s gold exports to India set to hit record high, says official Read More »
BENGALURU (Reuters) – U.S. boutique investment firm GQG Partners Inc was the largest buyer in a stake sale of India’s Ambuja Cements by an Adani-owned company on Friday. Adani-owned Holderind Investments, which had a nearly 51% stake in Ambuja Cements as of June-end, had offered a 2.8% stake worth $500 million. WHY IT’S IMPORTANT GQG …
GQG Partners biggest buyer of Ambuja shares in Adani-owned co’s stake sale Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee rose in early trade on Friday, boosted by gains in most of its Asian peers ahead of closely watched remarks from Federal Reserve Chair Jerome Powell later in the day. The rupee was at 83.8850 against the U.S. dollar as of 10:10 a.m. IST, higher than …
Rupee lifted by gains in Asian peers, oil firms’ bids cap upside Read More »
By Nikunj Ohri NEW DELHI (Reuters) – India is likely to retract its demand that Infosys pay $4 billion in back taxes after weeks of lobbying by the IT giant and an onslaught of criticism from the software services industry, said two government sources with direct knowledge of the plan. Authorities last month ordered Infosys …
India likely to withdraw Infosys $4 billion tax demand after backlash, sources say Read More »
NEW DELHI (Reuters) – India’s aviation ministry may soon call an industry meeting over concerns about rising airfares, broadcaster ET Now reported on Friday citing sources. The government is also not in favour of capping fares at the moment, the report said. (Reporting by Shivam Patel in New Delhi; Editing by YP Rajesh)
(Reuters) – AstraZeneca has warned it could relocate its vaccine manufacturing site from the UK to the United States as talks with the new Labour government over plans to cut state aid have become deadlocked, the Financial Times reported on Thursday. British finance minister Rachel Reeves wants to reduce state provisions to the company’s vaccine …
AstraZeneca threatens to move UK vaccine production to US, FT reports Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares were little changed on Friday, tracking a pause in the global equities’ rally ahead of Federal Reserve Chair Jerome Powell’s address, as investors awaited confirmation of their expectations for a U.S. rate cut next month. The NSE Nifty 50 index was down 0.09% at 24,789.5 as of 9:44 …
Indian shares flat as global rally pauses, IT stocks slip Read More »
By Ashwin Manikandan, Arpan Chaturvedi and Munsif Vengattil BENGALURU/NEW DELHI (Reuters) -The insolvency of Indian education technology company Byju’s threatens to be the biggest upset in a celebrated startup sector, unleashing a long battle by thousands of panic-stricken employees to recover dues and protect their careers. Once a darling of global investors, valued at $22 …
Indian ed-tech giant Byju’s insolvency case fans employees’ fears Read More »
