By Rahul Paswan and Brijesh Patel (Reuters) – Gold prices fell 1% on Wednesday after data showed U.S. consumer prices rebounded as expected in July, pouring water on expectations for a sizeable rate cut from the Federal Reserve next month. Spot gold fell 1% to $2,440.47 per ounce by 01:45 p.m. EDT (1745 GMT). U.S. …
Gold slips 1% as large rate-cut hopes dim after US CPI data Read More »
By Nikunj Ohri and Manoj Kumar NEW DELHI (Reuters) – The Indian and Russian central banks have renewed discussions to set a mechanism to expand local currency trade, in a move to iron out payment issues after a surge in bilateral trade since the war on Ukraine in 2022, a government source said. The discussions …
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) – Carlsberg doesn’t expect any dramatic changes to rules for liquor ads in India, the brewer’s CEO said on Wednesday, after reports the country is set to announce sweeping rules that will bar even so-called surrogate ads. India bans direct advertising of liquor, but companies often use surrogate ads that …
Carlsberg doesn’t see dramatic curbs on India liquor ads Read More »
BENGALURU (Reuters) – Glenmark Pharmaceuticals reported a more than two-fold growth in first-quarter profit on Wednesday, helped by strong demand for its drugs and a marginal decrease in costs. The drugmaker reported consolidated profit before exceptional items and taxes of 4.62 billion rupees ($55 million) for the quarter ended June 30, from 2.03 billion rupees …
India’s Glenmark Pharma posts higher Q1 profit on strong demand Read More »
NEW DELHI (Reuters) -Indian top court’s order that allows states to collect past tax dues from mining companies will have a large financial impact on these firms and affect investments, a senior mines ministry official, who did not want to be named, told Reuters on Wednesday. The order is expected to have an impact of around …
By Arpan Chaturvedi NEW DELHI (Reuters) -India’s top court on Wednesday revived insolvency proceedings against education technology company Byju’s following a lawsuit by a trust representing U.S. lenders who say they are owed $1 billion by the company. The Supreme Court order is a setback for founder Byju Raveendran whose eponymous online coaching company was …
US lenders push Indian ed-tech giant Byju’s towards insolvency Read More »
NEW DELHI (Reuters) – India’s merchandise trade deficit in July was wider than expected, government data showed on Wednesday. The merchandise trade deficit stood at $23.5 billion in July, according to a Reuters calculation, higher than economists’ expectation of $21.35 billion, according to a Reuters poll. In June, the trade deficit was $20.98 billion. India’s …
India’s July merchandise trade deficit at $23.5 billion Read More »
BENGALURU (Reuters) – India’s PC Jeweller swung to a profit in the first quarter on Wednesday as promotions and discounts drove demand. It reported a consolidated net profit of 1.56 billion rupees ($18.6 million), compared with a loss of 1.72 billion rupees a year earlier, snapping six straight quarters of losses. Revenue from operations surged …
India’s PC Jeweller swings to Q1 profit on robust demand Read More »
By Sai Ishwarbharath B and Haripriya Suresh BENGALURU (Reuters) – Global banks have started reviving the technology projects they put on ice in 2023, raising hopes for the $254 billion Indian IT sector that makes about a third of its revenue from banking, financial services and insurance (BFSI) clients. Quarterly reports from Tata Consultancy Services …
Global banks’ tech revival sparks hope for $254 billion Indian IT sector Read More »
By Rajendra Jadhav and Ashitha Shivaprasad MUMBAI (Reuters) – India’s palm oil and soyoil imports surged to their highest levels in about a year in July, as refiners increased purchases for upcoming festivals amid a correction in prices, a leading trade body said on Wednesday. Higher palm oil purchases by the world’s biggest importer of …
India’s July palm imports surge to near one-year high on festive demand Read More »
