By Brijesh Patel (Reuters) – Gold prices rose more than 1% to a near two-week high on Wednesday, driven by increased bets for a September interest rate cut by the Federal Reserve after recent U.S. data suggested that the labor market was softening. Spot gold was up 1.2% at $2,357.06 per ounce by 02:08 a.m. …
Gold hits near 2-week high as soft US data lifts Fed rate-cut bets Read More »
MUMBAI (Reuters) – Indian lenders must strengthen their governance standards and ensure robust cybersecurity controls to curb digital frauds, the governor of the Reserve Bank of India (RBI) told bank chiefs on Wednesday. RBI Governor Shaktikanta Das, in his opening remarks at a meeting with the CEOs of private and public sector banks in Mumbai, …
India cenbank governor pushes for stronger governance, cybersecurity in banks Read More »
BENGALURU (Reuters) -Indian renewable energy firm ACME Solar Holdings has filed for an initial public offering to raise up to 30 billion rupees (nearly $360 million), draft papers showed on Wednesday. ACME Solar, which operates solar and wind energy projects, will issue fresh shares worth up to 20 billion rupees, while its largest shareholder ACME …
Indian renewable energy firm ACME Solar Holdings files for $360 million IPO Read More »
By Manoj Kumar NEW DELHI (Reuters) – India plans to increase state subsidies on rural housing in the upcoming federal budget by as much as 50% from the previous year to more than $6.5 billion, after setbacks for the prime minister’s party in elections, two government sources said. The planned hike in housing subsidies is …
By Sai Ishwarbharath B BENGALURU (Reuters) – UK-based accounting firm RSM’s U.S. arm is planning to more than double its India workforce to 5,000 over the next three years, a top executive said. “The expansion is driven by the tremendous talent base in India. Compared to the last 10-15 years, the talent now is very …
Accounting firm RSM’s US arm plans to more than double India headcount in 3 years Read More »
By Neha Arora NEW DELHI (Reuters) – India’s federally administered region of Jammu and Kashmir did not receive any bids in a second attempt to auction mining rights for lithium reserves found last year, according to a source with direct knowledge of the matter. The government in February 2023 found its first lithium deposits in …
India’s Jammu and Kashmir lithium block gets no bids in second attempt, source says Read More »
BENGALURU (Reuters) – Indian social media platform Koo is discontinuing its services, its top boss said in a social media post. “Our partnership talks fell through and we will be discontinuing our service to the public,” a LinkedIn post from CEO Aprameya Radhakrishna and co-founder Mayank Bidawatka read. A dearth of funding hurt the platform, …
Indian social media platform Koo to shut down after partnership talks fail Read More »
(This July 1 story has been corrected to fix the company name to ‘Kia India’ from ‘Kia Motor’ in the table) BENGALURU (Reuters) – Carmakers Mahindra & Mahindra and the Indian units of Toyota Motor Corp and Kia Corp reported higher car sales in June, boosted by demand for sports utility vehicles (SUV) even as …
Indian carmakers post SUV-led June sales growth amid heat waves Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed on Wednesday as a dip in U.S. bond yields did little to help Asian currencies which remained under pressure due to weakness in the Japanese yen and the Chinese yuan. The rupee was at 83.50 against the U.S. dollar as of 10:20 a.m. …
Rupee nearly flat wedged between yuan weakness, dip in US bond yields Read More »
By Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) – Playing the currencies of the world’s two most populous nations against each other has been a popular choice for carry traders and will hold its appeal until at least the results of the U.S. elections later this year, traders and currency analysts said. The Indian rupee’s …
