Reuters India Business Archives - Page 783 of 1191

Google, Walmart ask Bengaluru staff to work at home amid state water dispute

25 Sep 2023 25 Sep 2023

BENGALURU, India (Reuters) – Calls for protests over a longstanding river water sharing dispute between two south Indian states have forced global firms including Walmart and Alphabet’s Google to ask employees in Bengaluru to work from home on Tuesday. Farmers and activists have called for a strike in Bengaluru, dubbed India’s Silicon Valley, demanding state …

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Factbox-Recent disruptions at Apple facilities in India

25 Sep 2023 25 Sep 2023

NEW DELHI (Reuters) – Apple supplier Pegatron on Monday temporarily halted iPhone assembly at its Chennai facility in India’s Tamil Nadu state after a fire at the factory. Apple has been eyeing a large manufacturing base in India since it began iPhone assembly in the country in 2017. Apple products in India are currently manufactured …

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India could sell more wheat in open market to calm prices

25 Sep 2023 25 Sep 2023

NEW DELHI (Reuters) -The Indian government could sell more wheat on the open market to control prices that have reached their highest in nearly eight months, the country’s food secretary said on Monday. India, the world’s second-biggest producer and consumer of wheat, has been trying to contain food prices before the start of peak festival season …

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India considering $7.2 billion housing loan interest subsidy scheme- govt sources

25 Sep 2023 25 Sep 2023

By Sarita Chaganti Singh and Siddhi Nayak NEW DELHI/MUMBAI (Reuters) – India is considering spending 600 billion rupees ($7.2 billion) to provide subsidised loans for small urban housing over the next five years, two government sources told Reuters. Banks are likely to roll out the scheme in a couple of months, ahead of key state …

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India to auction Jammu and Kashmir lithium reserves in few weeks -govt source

25 Sep 2023 25 Sep 2023

By Neha Arora NEW DELHI (Reuters) – India’s federally administered region of Jammu and Kashmir will auction its lithium reserves over the next few weeks, a government source with close knowledge of the matter said on Monday. India, which has been exploring ways to secure supplies of lithium, a critical raw material used to make …

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India’s Delta Corp shares sink on $1.34 billion tax blow

25 Sep 2023 25 Sep 2023

BENGALURU (Reuters) -Shares of Indian casino operator Delta Corp plunged as much as 20% on Monday to their lowest since January 2021, after the company said that it received a notice to pay 111.40 billion rupees ($1.34 billion) in tax arrears. Delta Corp, valued at about $466.4 million, added that the company and two of …

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Nomura retains negative view on Indian rupee despite JPMorgan index inclusion

25 Sep 2023 25 Sep 2023

MUMBAI (Reuters) – The Indian rupee’s outlook remains weak and any rally in the currency following JPMorgan’s index inclusion should be used to build long USD/INR positions, economists at Nomura said in a note, raising the conviction level on its long USD/INR positions to the maximum. The rupee had climbed to near 82.80 against the …

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Rupee gives up index inclusion-led rally; RBI counted on to help

25 Sep 2023 25 Sep 2023

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee dropped on Monday, losing momentum from JPMorgan’s inclusion of Indian bonds in its index, amid pressure due to dollar demand from importers and high U.S. yields. The rupee was at 83.12 against the U.S. dollar by 11:00 a.m. IST compared with 82.93 in the previous session. …

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India’s aviation authorities say they can’t interfere in Akasa dispute

23 Sep 2023 23 Sep 2023

By Arpan Chaturvedi and Aditya Kalra NEW DELHI (Reuters) – India’s aviation authorities have ruled out intervening in a dispute between Akasa Air and its pilots after the budget carrier accused the regulator of inaction, a legal filing shows. Over 40 of Akasa’s 450 pilots quit without serving their notice in recent weeks, and the …

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India to delay import licensing of laptops after US, industry push back, sources say

23 Sep 2023 23 Sep 2023

By Munsif Vengattil and Shivangi Acharya NEW DELHI (Reuters) – India will defer an import licence requirement for laptops and tablets, two government officials said, a policy U-turn after industry and the U.S. government complained about the move, which could hit Apple, Samsung and others. The plan will be delayed by a year, after which …

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