By Anushree Ashish Mukherjee (Reuters) – Gold prices gained on Thursday after softer U.S. economic data pushed the U.S. dollar and Treasury yields lower, while market focus shifted to commentary from Federal Reserve officials for cues on the timeline for interest rate cut. Spot gold was up 0.6% at $2,004.05 per ounce, as of 01:57 …
Gold gains as US dollar, yields slip after softer economic data Read More »
By Mike Scarcella (Reuters) – Pfizer has agreed to pay $93 million to settle antitrust claims by wholesale drug distributors that accused it of conspiring with India’s Ranbaxy Laboratories to delay sales of less expensive, generic versions of the cholesterol drug Lipitor. Attorneys for Lipitor purchasers including Rochester Drug Co-Operative Inc and Puerto Rico’s Drogueria …
Pfizer agrees to pay $93 million to settle Lipitor antitrust lawsuit Read More »
(Reuters) -The Indian government is increasing the windfall tax on petroleum crude to 3,300 rupees ($39.76) a metric ton from 3,200 rupees with effect from Feb. 16, according to a notification released on Thursday. It will also increase a windfall tax on diesel, that had been reduced to zero, to 1.50 rupees a litre, the order showed. The …
India hikes windfall tax on petroleum crude, diesel Read More »
By Siddhi Nayak, Jaspreet Kalra and Swati Bhat BENGALURU (Reuters) -The Reserve Bank of India has ordered Visa to stop using an unauthorized route to make business-to-business (B2B) card payments, two sources familiar with the matter said on Thursday, the latest clampdown by the financial regulator in the fast-changing payment sector. Earlier in the day, …
India cenbank stops certain Visa B2B card payments, sources say Read More »
BENGALURU (Reuters) – Vedanta Resources, the parent of Vedanta Ltd, has sold a stake worth more than 17.37 billion rupees ($209 million) in the Indian miner, exchange data showed on Thursday. Finsider International, part of billionaire Anil Agarwal-led Vedanta Resources, sold more than 65.5 million Vedanta Ltd shares at 265.14 rupees each, the data showed. …
Indian miner Vedanta’s parent sells $209 million stake Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares advanced on Thursday, led by a rally in energy and public sector banks, and supported by a post-results jump in Mahindra & Mahindra. The NSE Nifty 50 index settled 0.32% higher at 21,910.75, while the S&P BSE Sensex gained 0.32% to 72,050.38. Both the benchmarks struggled for direction earlier …
Indian shares extend gains, led by public sector banks, energy Read More »
NEW DELHI (Reuters) – India’s law enforcement agency overseeing indirect taxes has summoned Indian offices of international airlines over alleged tax evasion on import of services, CNBC-TV18 reported on Thursday citing sources. The Directorate General of GST Intelligence (DGGI) was seeking clarification over payment of crew salaries and staff expenses at the offices of the …
NEW DELHI (Reuters) – India’s merchandise trade deficit in January stood at $17.49 billion, according to a Reuters calculation based on export and import data released by the government on Thursday. Economists had expected the country’s January trade deficit to be $20 billion, according to a Reuters poll. India’s merchandise exports in January stood at …
India’s January merchandise trade deficit at $17.49 billion Read More »
MUMBAI (Reuters) – Funding conditions in India are likely to play a crucial role in constraining loan growth for many banks in the country, and credit expansion could moderate by 200 basis points in the next fiscal year, S&P Global Ratings said in note on Thursday. The rating agency expects system-level credit growth to moderate …
Indian banks’ margins set to fall, credit growth to moderate in FY25 – S&P Read More »
BENGALURU (Reuters) – India’s Reliance Industries is in talks to buy Disney’s <DIS.N> stake in satellite TV provider Tata Play, the Business Standard newspaper reported on Thursday, as billionaire Mukesh Ambani’s firm seeks to bolster its media presence. The oil-to-telecom conglomerate is looking to buy Walt Disney’s 29.8% stake in the loss-making Tata Play as …
India’s Reliance in talks to buy Tata Play stake from Disney – Business Standard Read More »
