By Kashish Tandon and Nandan Mandayam BENGALURU (Reuters) -Indian budget carrier SpiceJet said on Friday its managing director, Ajay Singh, and Busy Bee Airways had submitted a joint bid for Go First airlines and that it would be the operating partner for its bankrupt rival. SpiceJet, which is cutting costs and raising funds to tide …
Indian carrier SpiceJet’s Ajay Singh submits bid for bankrupt Go First Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold ticked up on Friday but was on course for a second straight weekly fall after hot inflation data cooled prospects of early rate cuts by the Federal Reserve. Spot gold was up 0.4% to $2,012.86 per ounce at 01:45 p.m. ET (1845 GMT), but has lost 0.6% for …
Gold set for second weekly loss as rate cut expectations dampen Read More »
By Swati Bhat and Ira Dugal MUMBAI (Reuters) -India’s Paytm Payments Bank has been given more time by the central bank to wind down its operations, while its parent company has signed on a new banking partner to try to keep some of its popular products running and survive its current crisis. The Reserve Bank of …
India’s Paytm signs new banking partner; central bank extends unit wind-down date Read More »
By Manoj Kumar and Mayank Bhardwaj NEW DELHI (Reuters) – Atul Jhunjhunwala, an exporter in the Indian eastern city of Kolkata, is tearing his hair out, having just lost another order due to the Red Sea crisis that has jacked up his shipping costs and times. “Last week, I lost a big order to a …
India’s small exporters reel as Red Sea crisis helps rivals nab business Read More »
BERLIN (Reuters) -Volkswagen and Mahindra & Mahindra Ltd have signed a supply agreement on the use of key electric components of the German carmaker’s open platform for electric vehicles (EVs), the companies said in a statement on Friday. Mahindra plans to use certain platform components, as well as Volkswagen’s unified battery cell, for its own …
Mahindra to use Volkswagen electric components, battery cells Read More »
By Nidhi Verma NEW DELHI (Reuters) – India has resumed imports of Russian Sokol oil after a two-month gap with at least two refiners so far taking deliveries of the light sweet crude in February, four trade sources said and ship tracking data showed. India’s Hindustan Petroleum Corp has bought Sokol oil from a trader, …
India resumes buying Russian Sokol oil after 2-month hiatus, sources say Read More »
By Siddhi Nayak MUMBAI (Reuters) – The State Bank of India has asked the Reserve Bank of India for a reduction in the cash reserve ratio that needs to be maintained on green deposits raised by banks, Chairman Dinesh Kumar Khara said on Friday. Currently, banks have to maintain a CRR of 4.5% on their total …
India’s SBI seeks lower reserve requirement for green deposits, chairman says Read More »
By Praveen Paramasivam CHENNAI (Reuters) – Hundreds of workers at a manufacturing plant of Apple supplier Flex in India’s Tamil Nadu state staged a one-day strike on Friday, demanding higher wages and the recognition of a union. Many electronics manufacturers in India, including Foxconn and Pegatron, lack a union, while automobile factories have higher levels …
Workers at Apple supplier Flex’s India plant stage one-day strike Read More »
By Bharath Rajeswaran and Nandan Mandayam BENGALURU (Reuters) -Indian shares rose on Friday, set to extend gains for the fourth straight session, led by the auto sector’s surge on Mahindra & Mahindra’s post-results rally and a jump in Tata Motors. The NSE Nifty 50 index was up 0.53% at 22,026.75, while the S&P BSE Sensex …
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee ticked up on Friday aided by a pullback in the U.S. dollar after economic data came in weaker than expected, but demand for the greenback from local oil companies is likely to limit the currency’s gains, traders said. The rupee was at 83.01 against the U.S. …
Rupee inches up, dollar demand from oil companies likely to cap gains Read More »
