By Rajendra Jadhav MUMBAI (Reuters) – India’s gold demand is expected to be subdued in the first quarter of 2024 due to lower jewellery sales, but annual demand is anticipated to rise as consumers adjust to higher prices, the World Gold Council (WGC) said on Wednesday. Higher purchases in the world’s second-biggest gold consumer could …
India’s gold demand to rise in 2024 despite subdued March quarter-WGC Read More »
NEW DELHI (Reuters) – The Sri Lankan government said on Wednesday it has pre-qualified Jio Platforms, a unit of India’s Reliance Industries Ltd, and Gortune International Investment Holding to bid for stakes in Sri Lanka Telecom. This is a part of Sri Lanka’s efforts to reduce government stake in state-owned firms under the $2.9 billion International …
Reliance’s Jio, Gortune pre-qualify for Sri Lanka Telecom stake bid – govt Read More »
By Jayshree P Upadhyay (Reuters) – India’s markets regulator is looking at whether local mutual fund schemes investing in small and mid-cap stocks would be able to withstand sharp falls in stock prices or sudden outflows, according to two sources with direct knowledge of the matter. Such funds have seen heavy inflows over the past …
India regulator reviewing small, mid-cap funds’ stress tests -sources Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was largely steady on Wednesday even as most Asian currencies trended lower after investors solidified bets that the U.S. Federal Reserve is unlikely to cut policy rates at its March meeting. The rupee was at 83.09 against the U.S. dollar as of 11:20 a.m. IST, barely …
Rupee little changed even as most Asian peers slip ahead of Fed outcome Read More »
(Reuters) – Tinder-parent Match Group forecast first-quarter revenue below Wall Street expectations on Tuesday as users of dating apps cut back spending amid economic uncertainty. The company also authorized a $1 billion share buyback plan. Match has been competing with dating apps operator Bumble, which is regarded as female oriented, against the backdrop of rising …
Tinder-parent Match forecasts weak revenue on lower spending on dating apps Read More »
(Reuters) – The Indian government on Tuesday appointed four members of the new Finance Commission that will recommend how federal taxes will be shared with states. According to a government order issued late Tuesday, three full-time members of the 16th Finance Commission include former Expenditure Secretary Ajay Narayan Jha; former Department of Expenditure official Annie …
Indian government appoints members for new finance panel Read More »
NEW DELHI (Reuters) – India’s economy is likely to grow at 6.5% in the financial year starting April 1, 2024 and at a similar pace the year after, the International Monetary Fund said in its World Economic Outlook released on Tuesday. The IMF also revised its projections for GDP growth in the world’s fifth largest …
IMF raises India’s growth forecast to 6.5% for next financial year Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold prices climbed to a two-week high on Tuesday, supported by a softer dollar and lower Treasury yields while focus turned to the Federal Reserve’s policy meeting for insight into how soon it will cut interest rates this year. Spot gold was up 0.2% at $2,035.32 per ounce by …
Gold scales two-week peak as market focus turns to Fed meeting Read More »
By Hritam Mukherjee and Sethuraman N R BENGALURU (Reuters) -India’s Larsen and Toubro (L&T) on Tuesday flagged the risk of logistics costs rising due to disruptions in the Red Sea, even as the infrastructure company watches developments in Middle East, which is becoming a key market. More than half the orders the Mumbai-based company received …
India’s L&T flags Middle East, local poll risks after Q3 profit miss Read More »
BENGALURU (Reuters) – Indian electrical appliances maker Voltas reported a fall in third-quarter profit on Tuesday, hurt by higher costs. The Tata Group-owned company’s consolidated profit before exceptional items and tax fell 58% from last year to 238.5 million rupees ($2.87 million) in the three months to Dec. 31. Expenses related to raw materials, jobs, …
India’s Voltas posts Q3 profit fall as expenses rise Read More »
