BENGALURU (Reuters) – Retail sales of passenger vehicles (PV) and two-wheelers in India jumped 17% and 21%, respectively, in November to all-time highs, a dealers’ body said on Wednesday, adding that the ongoing wedding season was fuelling the growth further. Sales of PVs and two-wheelers grew to 360,000 units and 2.2 million units in November, …
By Anushree Ashish Mukherjee (Reuters) – Gold slipped on Tuesday after grazing an all-time high in the previous session as the dollar regained footing and investors refrained from making big bets ahead of key U.S. jobs data that could offer more clarity on the U.S. interest rate path. Spot gold was down 0.5% at $2,020.29 …
Gold rally cools as dollar holds ground, US jobs data in focus Read More »
By Eric Onstad LONDON (Reuters) – Employees at commodity trader Trafigura worked with Indian businessman Prateek Gupta to keep secret a deal to substitute scrap and other low-value metal for nickel, Gupta alleged in a court document released on Tuesday. Geneva-based Trafigura filed a lawsuit against Gupta in February, alleging seven companies that Trafigura said …
Trafigura staff knew about nickel fraud, Gupta says in court document Read More »
LONDON (Reuters) – Indian businessman Prateek Gupta asked a London judge on Tuesday to lift an order freezing his personal and business assets, alleging that commodity trader Trafigura failed to disclose full information when it sought the injunction. In a court document, Trafigura rejected the allegations, saying that its demand was the product of meticulous …
Factbox-Trafigura’s lawsuit against businessman Gupta in alleged fraud over nickel Read More »
By Rishika Sadam and Kashish Tandon HYDERABAD (Reuters) -The U.S. Food and Drug Administration is inspecting Dr Reddy’s research and development centre in the southern Indian city of Hyderabad, the pharma company said on Tuesday. “We confirm the commencement of a USFDA inspection at our R&D centre (Integrated Product Development Organisation or IPDO),” a Reddy’s …
US regulators inspect Dr Reddy’s, other Indian pharma majors Read More »
BENGALURU (Reuters) -Taiwan’s Foxconn resumed operations on Tuesday at its Indian facility that makes Apple iPhones following weather disruptions, two sources familiar with the matter said. Foxconn and Pegatron had on Monday halted production of iPhones at their factories near Chennai because of heavy rain as a severe cyclone neared, Reuters had reported. Foxconn declined to a …
Foxconn resumes iPhone assembly at Indian facility after weather disruptions Read More »
By Eric Onstad LONDON (Reuters) – Indian businessman Prateek Gupta asked a London judge on Tuesday to lift a freezing order on his personal and business assets because he said commodity trader Trafigura failed to disclose full information when it demanded the freeze. Geneva-based Trafigura filed a lawsuit against Gupta in February, alleging seven trading …
Gupta asks court to lift freezing order in Trafigura nickel fraud case Read More »
By Mohi Narayan NEW DELHI (Reuters) – Two multi-billion-dollar petrochemical plants are coming online in India in coming months at a time of weaker-than-expected demand, setting the stage for fierce price competition domestically and internationally, industry officials and analysts say. Several regions, including India, China and the Middle East have been developing petrochemical production to …
New Indian petrochemical supplies to weigh on markets Read More »
By Shaloo Shrivastava BENGALURU (Reuters) – India’s dominant services sector stayed strong in November but expanded at its slowest pace in a year as demand softened despite cooling inflationary pressures, a private survey showed. The S&P Global India Services Purchasing Managers’ Index fell to 56.9 in November from October’s 58.4, below all expectations in a …
India Nov services growth softens but still solid Read More »
BENGALURU (Reuters) -India’s Adani Green Energy said on Tuesday it has received a follow-on funding of $1.36 billion via a green loan from an international bank consortium to help the company expand its renewable power capacity. This brings Adani Green’s total funds in its construction asset portfolio to $3 billion, according to a stock exchange …
India’s Adani Green secures additional $1.36 billion loan Read More »
