By Dhwani Pandya MUMBAI (Reuters) – India’s Surat diamond bourse will create 150,000 new jobs and become a “one-stop shop” for artisans and businessmen, Prime Minister Narendra Modi said as he inaugurated the new bourse in Gujarat. Surat, in Gujarat state, where Modi originally hails from, cuts and polishes 90% of world’s rough diamonds and …
India’s Modi says new diamond bourse in Gujarat to create 150,000 jobs Read More »
By Sarita Chaganti Singh and Nikunj Ohri (Reuters) – A committee of Indian lawmakers will hold discussions with four government-owned banks early next year under banking laws which among other things govern mergers and acquisitions, according to a government document. The meeting will also include “informal discussions” with India’s central bank over the law governing …
By Dhwani Pandya MUMBAI (Reuters) -Thousands of protesters led by opposition parties marched towards billionaire Gautam Adani’s offices in Mumbai on Saturday to voice their opposition to his conglomerate’s $614 million redevelopment plans for one of Asia’s largest slums in the city. Protesters carried flags and banners with slogans such as “Remove Adani Save Dharavi” from …
India’s opposition parties protest against Adani’s Mumbai slum overhaul plan Read More »
MUMBAI (Reuters) – Adani Enterprises, Indian billionaire Gautam Adani’s flagship firm, said on Saturday it had acquired a majority stake in news agency Indo-Asian News Service or IANS as the conglomerate tries to consolidate its media presence. The Adani group said in a statement that upon acquiring a 50.5% stake for 510,000 rupees ($6,140), it …
India’s Adani group to acquire controlling stake news agency IANS Read More »
By Shivangi Acharya NEW DELHI (Reuters) – India expects little disruption to its diamond industry from an incoming ban by G7 countries on Russian gems, a trade ministry official said on Friday, because the country mostly processes smaller Russian diamonds which will be less affected by the new restrictions. India is home to 90% of …
India sees minimal trade disruption after G7 ban on Russian diamonds Read More »
By Sherin Elizabeth Varghese (Reuters) – Gold prices fell on Friday, but eked out a weekly rise as the Federal Reserve shifted to a dovish stance and projected lower interest rates next year. Spot gold fell 0.8% to $2,019.91 per ounce by 3:33 p.m. ET (2033 GMT) but gained 0.8% for the week. U.S. gold …
Gold heads for weekly gain as Fed strikes dovish stance Read More »
MUMBAI (Reuters) – India has decided to allow sugar mills to divert up to 1.7 million metric tons of sugar for ethanol production, government and industry officials said on Friday, as New Delhi aims to reduce disruptions in its ambitious biofuel program. As the world’s second-biggest sugar producer, India had previously directed sugar mills not …
India to allow diversion of up to 1.7 million tons of sugar for ethanol Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) -Reliance Industries, JSW Energy, Torrent Power and Bharat Petroleum Corp are among 14 companies that have bid for incentives under India’s green hydrogen plan, according to a government agency. Twenty companies including Reliance Industries, Adani Group, Jindal India, Larsen & Toubro and Bharat Heavy Electricals have also submitted …
India gets bids for green hydrogen, electrolyser incentives Read More »
By Shivangi Acharya NEW DELHI (Reuters) -India’s merchandise trade deficit narrowed sharply to $20.58 billion in November from the previous month’s record levels as imports of gold, petroleum and electronic goods moderated, government data showed on Friday. The trade deficit in November was lower than the $23.60 billion expectation of economists polled by Reuters. India’s …
India’s Nov merchandise trade deficit narrows sharply on subdued imports Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -India’s benchmark indexes, Nifty and Sensex, posted their longest weekly winning streak in six years on Friday, extending their rally to record highs, as global markets advanced on elevated bets of a U.S. rate cut by March 2024. Both the NSE Nifty 50 index and BSE Sensex rose about 2.3% …
Fed fuels longest weekly winning streak in Indian shares in six years Read More »
