By Ashitha Shivaprasad (Reuters) – Gold prices jumped more than 3% on Friday and were poised for their best week in seven months as the intensifying conflict in the Middle East sent investors scurrying for safe-haven assets. Zero-yield bullion got an additional fillip from expectations that the U.S. interest rates may have peaked. Spot gold …
Safe-haven gold rallies over 3% as Middle East conflict intensifies Read More »
By Andrea Shalal MARRAKECH, Morocco (Reuters) – Currency market interventions by emerging market economies should not be viewed “as a black and white story”, India’s central bank governor told Reuters on Friday. Reserve Bank of India Governor Shaktikanta Das was referring to the U.S. Treasury Department’s regular foreign exchange report and similar research by the …
BENGALURU (Reuters) -India’s IndiGo co-founder Rakesh Gangwal is in talks to buy a “sizable” stake in troubled domestic airline SpiceJet, ET Now reported on Friday, citing sources. The news sent SpiceJet’s shares up as much as 20%, before closing 19.4% higher. Cash-strapped SpiceJet, which is “struggling to stay afloat”, has been scrambling to raise funds …
IndiGo co-founder Gangwal in talks to buy ‘sizable’ stake in SpiceJet – ET Now Read More »
BENGALURU (Reuters) – India’s HDFC Life Insurance Company reported a 15.5% rise in second-quarter profit on Friday as premium collections gained despite increased taxation on high-value life insurance. The Mumbai-based insurer’s profit after tax rose to 3.77 billion rupees ($45.30 million) for the quarter ended Sept. 30, from 3.26 billion rupees a year ago, it …
India’s HDFC Life Insurance Q2 profit rises on strong premium growth Read More »
NEW DELHI (Reuters) – India will not impose restrictions on laptop imports, country’s trade secretary told reporters on Friday, rolling back its earlier plan of curbing imports after criticisms. The import licensing regime, announced on Aug. 3, aimed to “ensure trusted hardware and systems” enter India, was delayed by three months after objections from industry …
India will not impose restrictions on laptop imports – official Read More »
NEW DELHI (Reuters) -India’s merchandise trade deficit in September stood at $19.37 billion, according to Reuters calculations based on export and import data released by the government on Friday. Economists had expected the country’s September trade deficit to be $23.25 billion, according to a Reuters poll. India’s merchandise exports stood at $34.47 billion, while imports …
India’s merchandise trade deficit at $19.37 billion in September Read More »
BENGALURU (Reuters) – The risk of Indian banks’ unsecured retail loans turning sour is rising as lending to borrowers with overdue debt has increased, UBS said in a note. In recent months, lenders in Asia’s third-largest economy have boosted their unsecured lending portfolios as the pandemic-induced stress on household finances has eased. Last week, the …
Risk of Indian banks’ unsecured retail loans turning sour is rising, UBS says Read More »
BENGALURU (Reuters) -Shares of Infosys , India’s No. 2 IT services provider, fell as much as 4.5% on Friday after a cut to the upper end of the company’s annual revenue forecast fanned further worries of a delay in demand recovery in the sector. The Bengaluru-based company’s stock trimmed some losses to trade down 3%, …
Infosys shares fall, raising demand worries for Indian IT sector Read More »
By Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) – The Indian rupee is likely to hover near its lifetime low on Friday, after U.S. inflation data reinforced expectations that the Federal Reserve will hold interest rates higher for longer. Non-deliverable forwards indicate rupee will open at around 83.25 to the U.S. dollar, just short of …
Rupee to see little respite on Fed’s higher-for-longer bets Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices eased on Thursday as dollar and Treasury yields ticked higher after U.S. consumer prices rose more than expected in September and raised worries that the Federal Reserve could keep rates higher for some time. Spot gold fell 0.3% to $1,868.79 per ounce by 3:04 p.m. ET (1904 GMT), …
Gold subdued as yields, dollar rise after US inflation data Read More »
