By Brijesh Patel (Reuters) – Gold prices edged higher on Monday, buoyed by some short covering from investors with focus turning to U.S. jobs data due later this week that could offer more cues around interest rate cuts by the Federal Reserve. Spot gold was up 0.2% at $2,329.79 per ounce as of 1:52 p.m. …
Gold holds ground as investors await US jobs data Read More »
(Reuters) -The Indian government has raised the windfall tax on petroleum crude to 6,000 rupees ($72) per metric ton from 3,250 rupees, effective from July 2, a notification issued on Monday showed. The windfall tax, which is revised every two weeks, remained unchanged at zero for diesel and aviation turbine fuel. India had on June …
BENGALURU (Reuters) – India’s market regulator proposed a series of easier rules for passively managed mutual fund schemes on Monday, looking to reduce the compliance burden, encourage competition and ease the entry of funds seeking to launch only less risky schemes. The proposed rules could be an incentive for asset managers like Vanguard to enter …
India market regulator proposes easier rules for passive mutual fund schemes Read More »
BENGALURU (Reuters) – India’s market regulator, on Monday, approved baby products retailer FirstCry’s filing for an initial public offering at the second time of asking, after having raised doubts over certain aspects in the first submission. FirstCry, backed by Softbank, TPG and Mahindra and Mahindra, sells baby products such as clothes, diapers and toys, and …
Indian retailer FirstCry gets regulatory nod for IPO Read More »
NEW DELHI (Reuters) – India collected 1.74 trillion rupees ($20.86 billion) as gross goods and services tax (GST) in June, 8% more than the same period last year, a source aware of the matter said on Monday. The government had collected 1.61 trillion rupees as GST in the same month last year. ($1 = 83.4305 …
India collects nearly $21 billion as goods and services tax in June Read More »
BENGALURU (Reuters) – India’s market regulator said on Monday charges levied by market infrastructure institutions such as stock exchanges, clearing corporations and depositories should be uniform and not based on volumes. Exchanges often charge a lower fee to brokers if they generate high volumes, contributing to a surge in trading across segments like derivatives. Asking …
India’s SEBI says charges levied by market institutions should be uniform Read More »
By Aditya Kalra NEW DELHI (Reuters) – India’s human rights watchdog said on Monday it had asked government officials to examine reported discrimination by Foxconn, after a Reuters investigation found the major Apple supplier has been rejecting married women from iPhone assembly jobs in the country. In a statement, the National Human Rights Commission (NHRC) …
By Shaloo Shrivastava BENGALURU (Reuters) – Activity in India’s manufacturing sector rebounded last month as output increased on robust demand, leading to the fastest rate of hiring in over 19 years, despite inflationary pressures remaining elevated, a survey showed. Strong demand is a much needed ingredient for growth in Asia’s third-largest economy, which is the …
Robust demand boosts India factory growth in June, PMI shows Read More »
BENGALURU (Reuters) -Indian health insurer Niva Bupa has filed for an initial public offering (IPO) to raise up to 30 billion rupees (nearly $360 million), draft papers showed on Monday. The company, majority owned by British United Provident Fund (Bupa), said it will issue fresh shares worth up to eight billion rupees as part of …
Indian health insurer Niva Bupa files for $360 million IPO Read More »
By Leika Kihara TOKYO (Reuters) -Asia’s factory activity expanded in June on solid momentum in the global economy and brightening prospects for semiconductor output, surveys showed on Monday, offering policymakers some hope the region can weather the hit from soft Chinese demand. But cost pressures weighed on manufacturers in countries like Japan, where the weak …
Asia’s factory activity expands in June on solid global demand Read More »
