By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was barely changed on Tuesday as local dollar demand continued to limit gains even as the dollar index languished close to its lowest level in nearly 5 months. The rupee was at 83.1650 against the U.S. dollar as of 9:50 a.m. IST, little changed from its …
Rupee flat, forward premiums up on rising Fed rate cut bets Read More »
BENGALURU (Reuters) – Shares of Infosys fell as much as 2.6% on Tuesday after the company said that an unnamed global company, which had signed a $1.5 billion deal focused on artificial intelligence solutions, decided to terminate its Memorandum of Understanding (MoU) with the IT giant. Infosys said it had plans to enhance digital experiences …
India’s Infosys falls after $1.5 billion AI deal termination Read More »
By Dharamraj Dhutia and Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee and government bonds will take cues from Asian currencies and U.S. Treasuries, respectively, and are likely to remain rangebound in the year’s last trading week shortened by the Christmas holiday. The rupee ended 0.17% stronger at 83.14 against the U.S. dollar on Friday, …
Indian rupee, bond yields eye rangebound week to end 2023 Read More »
BENGALURU (Reuters) -One 97 Communications, parent of fintech firm Paytm, on Monday confirmed a “slight reduction” in its workforce as part of cost-cutting measures, without specifying a number of jobs. A company spokesperson, however, denied recent media reports that have suggested the non-bank lender could cut more than 1,000 roles. “We will be able to …
India’s Paytm confirms it will axe jobs to cut costs Read More »
BENGALURU (Reuters) – Reliance Industries, India’s most valuable company, and Walt Disney signed a non-binding term sheet to merge their Indian media operations, the Economic Times reported on Monday, citing sources it did not name. Under the merger Reliance would own 51% through a combination of shares and cash, with Disney holding the remaining 49%, …
Disney, Reliance sign non-binding agreement for India media operations merger – ET Read More »
By Sherin Elizabeth Varghese and Ashitha Shivaprasad (Reuters) – Gold scaled a more than two-week high on Friday, rising for a second week as the dollar and U.S. Treasury yields slipped on rising expectations the Federal Reserve will cut interest rates early next year. Spot gold was up 0.4% at $2,052.69 per ounce as of …
Gold gains as rising Fed rate cut bets boost appeal Read More »
By VarunVyas Hebbalalu and Rama Venkat BENGALURU (Reuters) -SoftBank-backed Indian e-scooter maker Ola Electric said on Friday it will raise 55 billion rupees ($662 million) in an initial public offering (IPO) that is tipped to be one of the country’s biggest share sales next year. The offering, which is the first by an EV-maker in the country, …
Ola Electric to raise $662 million in India’s first EV maker IPO Read More »
MUMBAI (Reuters) – India’s market regulator has proposed a plan for a phased rollout of optional same-day settlement and has sought views from the public before it finalises the rules. Under the first phase of the plan, known as T+0 in marketspeak, trading in securities until 1.30 p.m. IST will be settled by 4.30 p.m., …
India’s market regulator proposes phased implementation of same-day settlement plan Read More »
NEW DELHI (Reuters) – The Indian government said on Friday a warning from the International Monetary Fund (IMF) that the country’s debt to GDP ratio could hit 100% was a worst-case scenario, and not a “fait accompli”. The IMF, in a so-called article IV review, said India’s general government debt, which includes federal and state …
Indian government says IMF debt warning a worst case scenario Read More »
NEW DELHI (Reuters) – India’s federal government has released 729.6 billion rupees ($8.8 billion) to states as tax devolution for financing various social welfare measures and infrastructure development schemes, the government said in a statement on Friday. ($1 = 83.1862 Indian rupees) (Reporting by Nikunj Ohri, writing by Sakshi Dayal; Editing by Toby Chopra)
