Reuters India Business

NEW DELHI (Reuters) – India’s merchandise trade deficit in February stood at $18.71 billion, according to a Reuters calculation based on export and import data released by the government on Friday. Economists had expected the country’s February trade deficit to be $18.30 billion, according to a Reuters poll. India’s merchandise exports in February stood at …

India’s Feb trade deficit at $18.71 billion, in line with forecast Read More »

BENGALURU (Reuters) -Walt Disney-owned Star India has started arbitration proceedings against Zee Entertainment Enterprises for alleged non-compliance with the terms of a cricket broadcasting agreement, Zee said on Friday. Under the August 2022 agreement, Star India was to license television broadcasting rights for the International Cricket Council’s (ICC) events to Zee for four years, starting …

Disney-owned Star India starts arbitration against Zee over cricket broadcasting deal Read More »

BENGALURU (Reuters) -Shares of India’s Paytm rose a stock exchange-allowed maximum of 5% on Friday, a day after it got a third-party application provider license that will allow it to offer digital payments after its banking unit ceases operations. The license, granted by the country’s payments authority, came as Paytm Payments Bank will cease most …

India’s Paytm jumps 5% as digital payments app survives banking unit shutdown Read More »

By Bharath Rajeswaran and Ashna Teresa Britto BENGALURU (Reuters) -India’s blue-chip indexes fell on Friday, dragged by information technology stocks on concerns about delays in U.S. rate cuts, while small- and mid-cap stocks declined as stress test results of mutual funds trickled in. The blue-chip NSE Nifty 50 index lost 0.63% to 22,004.71, while the …

Indian shares fall; small-, mid-caps drop as stress test results trickle in Read More »

By Dietrich Knauth NEW YORK (Reuters) – A U.S. bankruptcy judge on Thursday ordered the arrest of William Cameron Morton, a hedge fund manager who allegedly helped Indian education technology startup Byju’s hide $533 million from its lenders. Byju’s Alpha, a subsidiary controlled by Byju’s lenders, filed for U.S. bankruptcy in February after the Bangalore-based …

Hedge fund manager faces arrest over $533 million taken from ed-tech startup Read More »

By Nidhi Verma NEW DELHI (Reuters) -Indian state fuel retailers will cut petrol and diesel prices from Friday, the first change in about two years, ahead of the expected announcement of a date for national elections. The retail price of a litre of petrol and diesel will both fall by 2 rupees ($0.0241) in Delhi …

Indian state fuel retailers to cut petrol, diesel prices as election nears Read More »

(Reuters) -India’s Reliance Industries has agreed to buy Paramount Global’s entire 13.01% stake in local entertainment network Viacom 18 Media for about $517 million (42.86 billion Indian rupees), the U.S. company said in a regulatory filing. Viacom18 is majority-owned by Reliance and has 40 television channels, including Comedy Central, Nickelodeon and MTV. Paramount said it …

India’s Reliance to buy Paramount’s stake in Viacom18 Read More »