By Jayshree P Upadhyay MUMBAI (Reuters) – Indians have been allowed wider usage of foreign currency accounts at the Gujarat International Finance Tec-City, or GIFT City, boosting business prospects for a finance hub pushed by Prime Minister Narendra Modi. GIFT City, launched in the western state of Gujarat by Modi in 2011, has been planned …
India widens use of foreign currency accounts in GIFT City Read More »
(This July 9 story has been corrected to clarify that the group has helped projects raise more than 220 million euros, not raise the financing itself, in paragraph 2) By David Stanway SINGAPORE (Reuters) – A team of European carbon removal specialists launched an initiative on Tuesday to help Indian businesses develop projects that suck …
European carbon removal specialists to support new projects in India Read More »
By Rahul Paswan and Daksh Grover (Reuters) – Gold prices rose on Wednesday after comments from Federal Reserve Chair Jerome Powell raised expectations that the U.S. central bank is on track to lower interest rates soon, while investors awaited U.S. inflation data for more cues. Spot gold rose 0.6% to $2,378.25 per ounce by 12:36 …
Gold rises on Fed rate-cut expectations, US inflation data in focus Read More »
By Aditi Shah and Saurabh Sharma NEW DELHI/LUCKNOW (Reuters) – A move by India’s Uttar Pradesh state to waive some levies on hybrid cars will make them 10% cheaper, delivering Japan’s Toyota Motor a big win in lobbying efforts and raising industry and analyst expectations that other states could follow suit. Just as it does …
In a boost for Toyota, Indian state cuts levies on hybrid cars Read More »
By Bharath Rajeswaran and Manvi Pant BENGALURU (Reuters) -Indian shares declined on Wednesday, weighed by banks on worries of moderation in their earnings and by Mahindra and Mahindra after it slashed prices of some cars. The benchmarks NSE Nifty 50 fell 0.45% to 24,324.45 points, while the S&P BSE Sensex settled 0.53% lower at 79,924.77. …
Mahindra & Mahindra, banks hold up Indian shares’ record rally Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee ended marginally lower on Wednesday due to slight pressure from importers’ dollar bids, but was stuck in a narrow range for most of the session amid mostly quiet price action in its Asian peers. The rupee closed at 83.52 against the U.S. dollar, slightly weaker than …
Rupee ends tad lower after hovering in narrow band; forward premiums slip Read More »
By Rajendra Jadhav and Mayank Bhardwaj MUMBAI/NEW DELHI (Reuters) – India plans to sell wheat from its state reserves to bulk consumers such as flour millers and biscuit makers from next month, according to a government order seen by Reuters, as it seeks to keep a lid on local prices by boosting supplies. The government …
India to sell wheat from state stocks to flour millers, biscuit makers Read More »
By Shivangi Acharya and Swati Bhat NEW DELHI/MUMBAI (Reuters) – India’s growing employment stems largely from self-employed individuals, unpaid workers and temporary farm hires, whose jobs are not equivalent to formal positions with regular wages, private sector economists said on Wednesday. The comments follow labour department figures released this week showing 20 million new employment …
Official employment data masks India’s jobs problem, say economists Read More »
By Kashish Tandon and VarunVyas Hebbalalu BENGALURU (Reuters) -Indian drugmaker Emcure Pharmaceuticals’ shares rose 34.9% in debut trade on Wednesday, beating analysts’ estimates and valuing the company at 18.64 billion rupees ($223.3 million), as its strong presence in women’s healthcare and HIV treatments drew investors. In an IPO market where over 100 companies raised more …
India’s Emcure Pharma jumps 35% in debut trade at $223 million valuation Read More »
By Vivek Mishra BENGALURU (Reuters) – India consumer price inflation probably edged up in June, snapping five months of declines, largely because of a jump in vegetable prices caused by the damage to crops wrought by extreme weather, according to a Reuters poll of economists. Prices of tomatoes, onions, and potatoes – staples in every …
India inflation seen up in June due to soaring vegetable prices: Reuters poll Read More »
