Reuters India Business

By Hritam Mukherjee BENGALURU (Reuters) -Foot Locker will enter the Indian market in 2024 in partnership with local peer Metro Brands and cosmetics-to-fashion retailer Nykaa, the U.S.-based athleisure chain said on Wednesday, giving it a much wider global footprint. Metro Brands, which has over 700 stores across India, will exclusively own and operate Foot Locker …

Foot Locker to step into India, inks deals with Metro Brands, Nykaa Read More »

By Aditya Kalra NEW DELHI (Reuters) – India’s antitrust body has appointed Sanjay Kumar Pandey as interim head of its investigations unit, a government order showed, at a time when the watchdog is probing big foreign companies. Pandey has worked at the Competition Commission of India (CCI) for almost 14 years and is also an …

India’s antitrust body names new interim investigations head Read More »

MUMBAI (Reuters) – Tech investor Prosus NV said on Wednesday it was valuing Indian education firm Byju’s at under $3 billion, 86% less than its peak valuation of $22 billion last year, after the company struggled with governance and cash-flow problems. The disclosure, made by interim CEO Ervin Tu during Prosus earnings call, is the …

Prosus cuts India’s Byju’s valuation to under $3 billion Read More »

NEW DELHI (Reuters) – The Indian government on Tuesday approved the setting up of a new Finance Commission that will recommend how federal taxes will be shared with states. The federal cabinet has approved the so-called terms of reference for the 16th Finance Commission, Information and Broadcasting Minister Anurag Thakur said on Wednesday. The government …

India approves new finance panel to suggest sharing of federal taxes Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares advanced on Wednesday, led by information technology (IT) stocks, after dovish commentary from a U.S. Federal Reserve official elevated bets of rate cuts by as early as March 2024. The NSE Nifty 50 index rose 0.60% to 20,008.45 points, reclaiming the 20,000 mark for the first time since …

India’s Nifty 50 reclaims 20,000 mark powered by IT, Adani stocks Read More »

(Reuters) – India’s markets regulator on Tuesday proposed a framework which will help alternate investment funds (AIFs) in acquiring stressed assets, according to a consultation paper uploaded on the regulator’s website. Securities and Exchange Board of India (SEBI) in the paper said that while new category of AIFs called special situation funds were introduced in …

India proposes rules to help alternate investment funds acquire bad loans Read More »

PARIS (Reuters) – French nuclear operator EDF announced on Tuesday it was signing a series of cooperation agreements with Canadian, Czech, Indian and French partners to secure local supply chains and suppliers essential for future nuclear projects. EDF signed a letter of intent with Ontario Power Group (OPG) at the World Nuclear Exhibition in Paris …

EDF announces partnership with Canadian, Czech and Indian firms Read More »