Reuters India Business Archives - Page 781 of 1191

Pegatron India fire traced to workers’ failure to turn off switch -sources

27 Sep 2023 27 Sep 2023

By Praveen Paramasivam CHENGALPATTU, India (Reuters) -A factory fire at iPhone assembler Pegatron India was sparked by a short-circuit after an electrical switch was left on, following testing of the devices as they were being put together, two sources briefed on the matter told Reuters. The lapse at key Apple supplier Pegatron’s only factory in …

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India tax dept searches offices of Apple supplier Flex – source

27 Sep 2023 27 Sep 2023

NEW DELHI (Reuters) -India’s income tax department conducted searches at the premises of Apple supplier Flex in Tamil Nadu state, a source said on Wednesday. Income tax officials have visited the Chennai factory as part of the inquiry, the source said, adding that Flex has yet to be informed about the purpose of the visit. …

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India market regulator examining proposal for extended derivative trading hours – sources

27 Sep 2023 27 Sep 2023

By Jayshree P Upadhyay (Reuters) -India’s market regulator is examining a proposal from the country’s top exchange to extend trading hours for index derivatives, two sources with direct knowledge of the matter said on Wednesday, which could help investors better manage their risk. The National Stock Exchange (NSE) has proposed evening sessions between 6 p.m. …

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India not planning tax changes to aid bond inclusion on global indexes: govt source

27 Sep 2023 27 Sep 2023

NEW DELHI (Reuters) – India is not planning any changes to its tax regime to help Indian government bonds be included on other global indices, a government source said on Wednesday. JPMorgan’s decision last week to include India in its emerging market bond index from June 2024 is likely to bring in around $25 billion, as per …

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Indian lenders step up fundraising via infrastructure bonds as spending rises

27 Sep 2023 27 Sep 2023

By Bhakti Tambe and Dharamraj Dhutia MUMBAI (Reuters) – Indian lenders are rushing to raise funds via longer term infrastructure bonds amid an increase in federal government spending. Banks have raised 310 billion rupees ($3.73 billion) via infrastructure bonds in the first six months of this financial year, already surpassing last year’s total of 296 …

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Canada’s lentil sales to India slow after Trudeau raised murder suspicions

26 Sep 2023 26 Sep 2023

By Rod Nickel and Rajendra Jadhav WINNIPEG, Manitoba/MUMBAI (Reuters) – Canadian lentil sales to India have slowed since Canadian Prime Minister Justin Trudeau said last week he suspected India of involvement in an assassination on Canadian soil, fearing reprisal from New Delhi that could limit trade, industry sources in both countries say. Trudeau said that …

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India’s Byju’s to merge businesses, slash around 5,500 jobs – ET

26 Sep 2023 26 Sep 2023

(Reuters) – Indian education firm Byju’s plans to cut around 5,500 jobs to decrease costs amid a restructuring of its business, the Economic Times reported on Tuesday. Arjun Mohan, who took over as the chief executive of the company’s India business, has briefed senior executives that he will be merging several business verticals as part …

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Gold retreats as dollar, yields rise on hawkish Fed

26 Sep 2023 26 Sep 2023

By Ashitha Shivaprasad (Reuters) – Gold prices on Tuesday were set to fall for a second straight session as Treasury yields and the dollar rose on prospects of the Federal Reserve keeping interest rates higher for longer. Spot gold slipped 0.7% to $1,901.49 per ounce by 1:43 p.m. EDT (1743 GMT), after hitting its lowest …

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India keeps borrowing plan unchanged for second half; introduces 50-yr bond

26 Sep 2023 26 Sep 2023

By Nikunj Ohri and Sarita Chaganti Singh NEW DELHI (Reuters) -India’s government said on Tuesday that it had maintained its plans to borrow 6.55 trillion rupees ($78.72 billion) through bond issues in the October-March period and has introduced a new security with a 50-year maturity. India has projected gross market borrowing at 15.43 trillion rupees …

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Pegatron India’s iPhone factory shutdown to go into day 3 after fire -sources

26 Sep 2023 26 Sep 2023

By Praveen Paramasivam, Aditya Kalra and Munsif Vengattil CHENGALPATTU, India (Reuters) – A production shutdown at Apple supplier Pegatron’s India iPhone factory is expected to extend into Wednesday and disruptions could last longer as authorities investigate a fire at the Taiwanese firm’s only India plant, four sources said. Pegatron described the Sunday fire as a …

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