By Anushree Ashish Mukherjee (Reuters) – Gold prices fell more than 1% on Thursday, pressured by a rebound in the dollar and higher Treasury yields, while traders looked forward to Federal Reserve Chair Jerome Powell’s speech for more cues on rate cuts. Spot gold was down 1.2% at $2,482.16 per ounce as of 01:42 p.m. …
Gold slips as dollar, yields rebound; Powell’s speech in focus Read More »
BENGALURU (Reuters) – An Adani Group-owned company is selling shares worth $500 million in Ambuja Cements, according to a term sheet seen by Reuters on Thursday. The holding company, Holderind Investments, is selling a 2.84% stake in the cement company on Friday, with the floor price of the sale set at 600 rupees per share. …
India’s Adani Group-owned firm to sell stake worth $500 million in Ambuja Cements Read More »
BENGALURU (Reuters) – India’s Hindalco Industries will spend $10 billion to expand its domestic business and U.S.-based aluminium recycler Novelis Inc, Chairman Kumar Mangalam Birla said during the metals refiner’s shareholder meeting on Thursday. Hindalco would use the $10 billion for the ongoing aluminium and copper expansion projects as well as new ones, such as …
Hindalco to spend $10 billion to expand India business and Novelis, chairman says Read More »
By Shivangi Acharya NEW DELHI (Reuters) – India may allow certain foreign investors to raise capital in rupees for investments in select countries, a government official said, in a move aimed at boosting the international use of the South Asian nation’s currency. The plan comes after Indian Finance Minister Nirmala Sitharaman said in July the …
India may let foreign investors raise capital in rupees to invest overseas, source says Read More »
BENGALURU (Reuters) – India’s Zomato is shutting down its inter-city food-delivery service, CEO Deepinder Goyal said in a social media post on Thursday. The service, launched in 2022 and named Intercity Legends, allowed users in India to order food from other cities. “After two years of trying, not finding product market fit, we have decided …
India’s Zomato shuts inter-city food-delivery service Read More »
By Arpan Chaturvedi, Aditi Shah and Aditya Kalra NEW DELHI (Reuters) – The Indian antitrust body’s opposition to a proposed $8.5 billion merger of the Indian media assets of Walt Disney and Reliance may force the companies to sell some lucrative cricket broadcast rights or commit to advertising price caps. Reuters reported earlier this week …
Analysis-To seal India merger, Disney-Reliance may need to dilute cricket dominance Read More »
By Nidhi Verma NEW DELHI (Reuters) – India overtook China as the world’s biggest importer of Russian oil in July as Chinese refiners bought less because of lower profit margins from producing fuels, a comparison of import data showed. Russian crude made up a record 44% of India’s overall imports last month, rising to a …
India surpasses China to become Russia’s top oil buyer in July Read More »
By Indradip Ghosh BENGALURU (Reuters) – India’s business activity extended its robust growth streak in August as a stronger services industry offset a slight slowing in manufacturing expansion, according to a survey that indicated price pressures also were easing. Those findings suggest India will hold on to its title of fastest-growing major economy over coming …
India business activity extends robust growth streak in August, PMI shows Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was marginally weaker on Thursday amid a pause in the rally in Asian peers, while forward premiums rose after Federal Reserve minutes and downward revisions to U.S. payrolls made it almost The rupee was quoted at 83.9425 to the U.S. dollar at 10.36 a.m. IST, down …
Rupee dips; forward premiums rise amid near certainty on Fed rate cuts Read More »
(This Aug. 21 story has been corrected to say gross order value, not revenue, will rise three-fold, in paragraph 4) BENGALURU (Reuters) – India’s Zomato said on Wednesday it will acquire the movie and events ticketing businesses of digital payments firm Paytm for $244.2 million as the food delivery platform looks to beef up its …
India’s Zomato expands movie and event ticketing business with $244 million Paytm deal Read More »
