By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is expected to rally at open on Wednesday after a softer-than-expected U.S. inflation print increased the odds of the Federal Reserve pivoting to rate cuts around the middle of next year. Non-deliverable forwards indicate the rupee will open at around 83.00 to the U.S. dollar compared …
Rupee to rally on growing bets Fed to cut rates next year Read More »
(Reuters) – Embattled Sahara conglomerate chief Subrata Roy died on Tuesday due to cardiorespiratory arrest, the company said in a statement. Roy was admitted to a hospital in Mumbai on Sunday and died following complications arising from metastatic malignancy, hypertension and diabetes, according to the company. Sahara, once the sponsor of India’s national cricket team, …
India’s Sahara conglomerate chief Subrata Roy dies Read More »
By Ashitha Shivaprasad and Anushree Ashish Mukherjee (Reuters) – Gold prices gained on Tuesday as the dollar and Treasury yields retreated after softer-than-expected U.S. consumer inflation data, which fuelled more bets that the Federal Reserve may be done hiking interest rates. Spot gold was up 0.6% at $1,957.70 per ounce, as of 9:14 a.m. ET …
Gold advances as yields, dollar slip after US inflation data Read More »
CAIRO (Reuters) – Egypt discussed with India’s ambassador to Egypt the possibility of entering Indian financial markets, Egypt’s finance ministry said in a statement on Tuesday. “The two sides discussed ways to encourage the use of national currencies to settle payments,” in a meeting between Egyptian finance minister Mohamed al-Maait and ambassador Shri Ajit Gupte, …
Egypt broaches idea of tapping Indian financial markets Read More »
NEW DELHI (Reuters) – India will invite bids for 20 critical mineral blocks in the next fortnight, including for lithium and graphite, Mines Secretary V.L. Kantha Rao told Reuters on Tuesday. (Reporting by Sarita Chaganti Singh; Editing by Jacqueline Wong)
By Aditya Kalra and Nikunj Ohri NEW DELHI (Reuters) – India’s tax inspectors searched the office of British insurance giant Aviva’s life insurance unit near New Delhi last week and seized documents as part of an investigation into alleged tax evasion, sources familiar with the matter said. Officers of India’s Directorate General of GST (Goods …
India searches Aviva Life Insurance office for alleged tax evasion-sources Read More »
BENGALURU (Reuters) – Kalyan Jewellers India reported a 27.1% rise in its second-quarter profit on Tuesday, helped by rising domestic demand for its ready-to-wear jewellery line and increased traffic at stores ahead of the festive season. Consolidated net profit rose to 1.35 billion rupees ($16.23 million) from 1.06 billion rupees year ago for the three-months …
Kalyan Jewellers India’s Q2 profit rises on strong domestic demand Read More »
(This Nov 10 story has been corrected to say 3M announced plans to spin off its healthcare business in July 2022, not already spun it off, in paragraph 9) BENGALURU (Reuters) – ‘Post-it’ notes maker 3M India reported a near 38% jump in its second-quarter profit on Friday, helped by sustained demand for its products. …
‘Post-it’ maker 3M India’s Q2 profit jumps on steady demand (Nov 10) Read More »
NEW DELHI (Reuters) -India’s wholesale price index (INWPI=ECI) in October fell 0.52% from a year earlier, staying in negative territory for the seventh straight month on weaker manufacturing and a moderation in food prices, according to government data on Tuesday. The fall in the index was steeper than a decline of 0.20% expected by economists …
India’s October wholesale price index falls 0.52% y/y Read More »
(Reuters) – Malaysia’s IHH Healthcare on Tuesday said its unit filed a claim against Japan’s Daiichi Sankyo in mid-October seeking damages in excess of 20 billion yen ($131.86 million) in relation to its stake buy in India’s Fortis Healthcare. On Oct, 16, Northern TK Venture filed a claim against the Japanese pharmaceuticals manufacturer stating it …
IHH Healthcare unit sues Japan’s Daiichi Sankyo over Fortis deal Read More »
