Reuters India Business

US, India extend digital tax truce to Sunday as deadline approaches

29 Jun 2024

By David Lawder (Reuters) – The United States and India have extended a standstill agreement on U.S. retaliation over India’s digital-services tax until Sunday, aligning it with a fast-approaching deadline for a global deal to reallocate taxing rights on the world’s biggest and most profitable companies, the U.S. Treasury said on Friday. In a brief …

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Gold shines on rate-cut hopes after inflation data, on track for quarterly gains

28 Jun 2024

By Rahul Paswan (Reuters) – Gold prices steadied on Friday and were headed for a third straight quarterly gain after a key U.S. inflation report was broadly in line with expectations, boosting hopes that the Federal Reserve could cut interest rates by September. Spot gold was steady at $2,326.47 per ounce, as of 1833 GMT. …

Gold shines on rate-cut hopes after inflation data, on track for quarterly gains Read More »

Indians battle intense heat with ‘mad rush’ for air conditioners, beer

28 Jun 2024

By Praveen Paramasivam BENGALURU (Reuters) – Demand for beer in India is at a multi-year high and air conditioner sales are skyrocketing as the intense, unprecedented heat scorching parts of the country becomes a boon for some consumer businesses. Temperatures in the Indian capital Delhi and the western state of Rajasthan soared to almost 50 …

Indians battle intense heat with ‘mad rush’ for air conditioners, beer Read More »

Dealmakers optimistic on global M&A prospects despite sluggish growth

28 Jun 2024

By Anirban Sen and Anousha Sakoui NEW YORK/LONDON (Reuters) – Global mergers and acquisitions (M&A) activity grew at a sluggish pace in the second quarter, yet many dealmakers are upbeat, forecasting transactions will pick up in the second half of 2024. Stubbornly high interest rates, a hostile regulatory environment and a frothy stock market that …

Dealmakers optimistic on global M&A prospects despite sluggish growth Read More »

India’s Jio to hike tariffs on some of its plans from July 3 (June 27)

28 Jun 2024

(This June 27 story has been corrected to fix the price hike range to 13%-27%, from 13%-22%, in paragraph 4) BENGALURU (Reuters) – India’s Reliance Industries said on Thursday its telecom business Jio Infocomm will hike prices of some prepaid and postpaid plans from July 3. WHY IT’S IMPORTANT Jio, India’s largest telecom carrier by subscriber …

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Reliance, state-run banks boost Indian shares to another record high

28 Jun 2024

By Bharath Rajeswaran BENGALURU (Reuters) -India’s benchmark equity indexes rose to record highs on Friday, led by shares of oil-to-telecom conglomerate Reliance Industries that rose after its telecom arm announced tariff hikes and as state-owned lenders rallied. The NSE Nifty 50 rose 0.29% to 24,113.65 points, while the S&P BSE Sensex added 0.28% to 79,465.05 …

Reliance, state-run banks boost Indian shares to another record high Read More »

Indian liquor firm Som challenges license suspension in child labour case

27 Jun 2024

By Jatindra Dash and Arpan Chaturvedi BHUBANESWAR (Reuters) – Indian liquor company Som Group has asked a state court to quash a government decision to temporarily suspend manufacturing licenses of one of its distilleries where a federal agency found 59 children working illegally, a court filing showed. Police, who have been investigating the Som distillery …

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India’s market regulator warns of rising risks from derivative trading frenzy

27 Jun 2024

By Jayshree P Upadhyay MUMBAI (Reuters) -India’s market regulator on Thursday warned of rising risks from a surge in derivative trading volumes, with small investors jumping in to trade risky options contracts. A booming Indian stock market has drawn retail investors to the riskiest corners of the market and their share of derivative trading volumes …

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Growth of India capability centres set to rise sharply, says consultant ANSR

27 Jun 2024

By Haripriya Suresh BENGALURU (Reuters) – Growth in companies setting up global capability centres (GCCs) in India is set to accelerate sharply as it evolves from a low-cost back office location to a high-value innovation hub, said Lalit Ahuja, founder and CEO of consulting group ANSR. Indian hubs are now doing cutting-edge work ranging from …

Growth of India capability centres set to rise sharply, says consultant ANSR Read More »

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