By Anjana Anil (Reuters) – Gold prices rose on Wednesday, buoyed by a weaker dollar, as investors held on to hopes of a June rate cut by the Federal Reserve despite a hot U.S. inflation print, while escalating geopolitical tensions kept bullion’s safe-haven demand intact. Spot gold gained 0.8% to $2,174.96 per ounce, as of …
Gold rebounds on dollar retreat as Fed still seen cutting rates Read More »
By Bharath Rajeswaran and Ashna Teresa Britto BENGALURU (Reuters) – India’s small- and mid-cap indexes logged their worst session in more than two years on Wednesday, ahead of the results of a stress test of the country’s mutual funds conducted by the markets regulator, which has warned of “froth” in these stocks. The selling widened …
India’s small- and mid-cap stocks capitulate on stress test worries Read More »
BENGALURU (Reuters) -Indian FMCG and tobacco giant ITC’s shares settled more than 4.5% higher on Wednesday after rising over 8% during the session, as top shareholder British American Tobacco’s $2 billion stake sale in the company went through smoothly, removing a key overhang on the stock. BAT completed the sale, India’s third-largest block deal ever, disposing 436.9 million …
India’s ITC settles higher as BAT’s $2 billion share sale sails through Read More »
MUMBAI (Reuters) – India’s central bank has asked South Indian Bank and Federal Bank to stop adding new customers to their co-branded credit cards, the lenders said in separate stock exchange filings on Wednesday. South Indian Bank said it has been asked to stop on-boarding any fresh customers in its co-branded credit cards until it …
India cenbank tells two lenders to stop adding customers to co-branded credit cards Read More »
By Siddhi Nayak MUMBAI (Reuters) – The Indian rupee logged its worst day against the dollar in nearly three weeks on Wednesday, pressured by foreign outflows, while weakness in regional peers following hotter-than-expected inflation data in the United States also weighed. The rupee closed at 82.8625 to the dollar, down from its previous close of …
Rupee logs worst day in 3 weeks as outflows, weak Asian peers weigh Read More »
MUMBAI (Reuters) – India has allowed its central bank to import gold without paying import levies, the government said in a notification issued late on Tuesday. Gold importers from the world’s second biggest gold consumer need to pay basic customs duty and Agriculture Infrastructure and Development Cess (AIDC). As of September 2023, the Reserve Bank of India …
India allows RBI to import gold without paying import levies Read More »
NEW DELHI/LONDON (Reuters) -Indian Prime Minister Narendra Modi and British counterpart Rishi Sunak reaffirmed their commitment to securing a new trade deal in a call on Tuesday, as the prospect of an agreement ahead of elections in India fades. Britain and India have held stop-start talks over a Free Trade Agreement (FTA) for two years. …
India’s Modi and UK’s Sunak reaffirm commitment to trade deal Read More »
By Ashitha Shivaprasad and Anjana Anil (Reuters) – Gold prices remained under pressure on Tuesday, dropping more than 1%, after a hot U.S. inflation report dimmed prospects of the Federal Reserve cutting interest rates soon. Spot gold fell 1.4% to $2,153.05 per ounce as of 3:08 p.m. ET (1908 GMT), retreating from a record high …
Gold under pressure from Fed rate cut doubts after inflation data Read More »
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) – Novo Holdings, the controlling shareholder of Danish obesity drugmaker Novo Nordisk, plans to open an office in India this year to tap innovation and a growing healthcare market, its CEO Kasim Kutay said on Tuesday. The firm, whose assets under management rose to 149 billion euros ($163 billion) at …
By Timothy Gardner WASHINGTON (Reuters) – The United States is trying to help India negotiate lower prices for Russian oil as it deepens sanctions on tankers carrying the petroleum above Western price caps, President Joe Biden’s energy envoy said on Tuesday. Washington imposed sanctions late last month on Russia’s leading tanker group Sovcomflot on the …
US trying to help India get lower prices for Russian oil, Biden envoy says Read More »
