Reuters India Business

Indian used-car platform Spinny valued at $1.8 billion in new funding round

BENGALURU (Reuters) -India’s Spinny said on Tuesday it had raised $283 million in a funding round led by Abu Dhabi-based ADQ and Tiger Global, giving the used-car retailing platform a valuation of about $1.8 billion. The round includes a primary capital infusion of $250 million and a secondary sale of about $33 million by select …

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India central bank may refrain from reverse repo hike on Omicron worry

(Repeats story published on Dec 6 with no changes to text) By Swati Bhat MUMBAI (Reuters) – The Reserve Bank of India will likely hold off on raising its key borrowing and lending rates on Wednesday, as it adopts a cautious tone amid the spread of the Omicron coronavirus variant, economists and market participants said. …

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India central bank may refrain from reverse repo hike on Omicron worry

(Corrects policy day in lede to Wednesday from Thursday) By Swati Bhat MUMBAI (Reuters) – The Reserve Bank of India will likely hold off on raising its key borrowing and lending rates on Wednesday, as it adopts a cautious tone amid the spread of the Omicron coronavirus variant, economists and market participants said. Fifty economists …

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Indian shares fall nearly 2% as IT stocks weigh, Omicron fears loom

BENGALURU (Reuters) -Indian shares closed nearly 2% lower on Monday, hurt by a selloff in information technology (IT) stocks, as increasing cases of the Omicron coronavirus variant spooked investors ahead of the central bank’s decision on interest rates. The blue-chip NSE Nifty 50 index slipped below the 17,000 mark and was down 1.65% at 16,912.25, …

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India central bank to hold rates at Dec meeting, hike early next year: Reuters poll

By Tushar Goenka BENGALURU (Reuters) – The Reserve Bank of India will hike its reverse repo rate early next year and increase its repo rate the following quarter, according to a Reuters poll of economists who were split on whether the latest COVID-19 variant risked delaying those moves. This comes when retail inflation – the …

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Gold holds steady as investors weigh faster Fed taper prospects

(Reuters) – Gold prices held steady on Monday as market participants weighed the prospect of a faster ending to pandemic-era asset purchases by the U.S. Federal Reserve after data suggested the labour market was rapidly tightening. FUNDAMENTALS * Spot gold was little changed at $1,783.91 per ounce by 0038 GMT. U.S. gold futures rose 0.1% …

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Oil steadies, paring gains as rising COVID cases spur demand worries

By Scott DiSavino NEW YORK (Reuters) – Crude prices ended little changed on Friday after erasing earlier big gains on growing worries that rising coronavirus cases and a new variant could reduce global oil demand. Earlier in the day, oil prices climbed more than $2 a barrel after producer group OPEC+ said it could review …

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Musk’s Starlink to apply for India licence by end of January

By Aditi Shah NEW DELHI (Reuters) – Starlink, the satellite internet division of billionaire Elon Musk’s rocket company SpaceX, will apply early next year for a commercial licence in India to provide broadband and other services, its country head said on Friday. “We hope to have applied for a commercial license on or before 31st …

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Global tax deal leaves billion-dollar loopholes, Reuters analysis finds

By Tom Bergin DUBLIN (Reuters) – Leaders of the world’s largest economies hailed a recent agreement to overhaul global corporate tax rules as key ensuring multinationals paid their fair share of tax. The October deal established a global minimum corporate tax rate of 15% aimed at curtailing profit-shifting to lower-tax jurisdictions such as Ireland, where …

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