By Brijesh Patel (Reuters) – Gold jumped 1% on Friday, helped by a weaker dollar and safe-haven buying after United Auto Workers union kicked of strikes at three automakers in Detroit, while hopes around a likely pause in U.S. interest-rate hikes lent further support. Spot gold was up 0.7% at $1,924.27 per ounce by 1:56 …
Gold rises 1% on US dollar weakness, safe-haven demand Read More »
(Reuters) – The Indian government has increased windfall tax on petroleum crude to 10,000 rupees ($120.36) per ton from 6,700 rupees, effective Sept. 16, according to a government notification on Friday. The government also cut windfall tax on aviation turbine fuel to 3.50 rupees per litre from 4 rupees. The levy on diesel has been …
By Hritam Mukherjee BENGALURU (Reuters) – Volkswagen-owned Audi’s India unit said on Friday that any potential cut down on electric vehicle (EV) import taxes would help the German carmaker experiment better with models and pricing in the world’s third-largest car market. “If we get a window of three to five years where the government is …
Audi exec says lower tax on imported EVs will help test India market Read More »
By M. Sriram NEW DELHI (Reuters) -The co-CEO of Axis Bank’s investment banking unit Axis Capital, Chirag Negandhi, has resigned, according to an internal memo seen by Reuters on Friday. The investment bank will likely tap an outside candidate for Negandhi’s role, two sources with direct knowledge of the matter told Reuters. Axis Capital named …
India’s Axis Bank investment banking unit co-CEO Negandhi resigns – internal memo Read More »
By Aditi Shah and Phuong Nguyen NEW DELHI/HANOI (Reuters) – Vietnamese electric vehicle (EV) maker VinFast has begun hiring in India, seeking recruits who “dare to think, dare to do, and dare to face difficulties,” according to a LinkedIn ad. The loss-making startup, whose market value has roughly halved since its blowout $85 billion Wall …
EV maker VinFast seeks ‘daring’ applicants in India hiring drive Read More »
BENGALURU (Reuters) – Indian wires and cables maker RR Kabel’s initial public offering, valued at about 19.64 billion rupees ($236.25 million), was oversubscribed nearly 19 times on Friday, according to data from the National Stock Exchange. Investors bid for 248.9 million shares by the final day of bidding, 18.69 times the 13.3 million shares on …
Indian cables maker RR Kabel’s IPO oversubscribed nearly 19 times Read More »
By Bharath Rajeswaran and Archishma Iyer BENGALURU (Reuters) -Indian shares settled at record highs on Friday, helped by the Bajaj Auto-led surge in auto stocks, while the benchmark Sensex logged its longest daily winning streak in 16 years. On the day, the Nifty 50 was up 0.44% to 20,192.35, while the S&P BSE Sensex gained …
Indian shares extend record rally; Sensex logs longest winning run in 16 years Read More »
(Reuters) – Finance Minister Nirmala Sitharaman expressed optimism, in interview published on Friday, that India could achieve its nominal economic growth target of 10.5% this fiscal year, and hinted that growth took priority over taxing diesel vehicles. “I would like to believe that we will achieve the target,” Sitharaman told the Business Standard newspaper. India’s …
India’s finance minister optimistic 10.5% nominal economic growth target achievable Read More »
By Dharamraj Dhutia MUMBAI (Reuters) – Foreign investors have increased their holdings of Indian government bonds that have no ownership restrictions to just under a record $12 billion amid expectations of domestic bonds’ inclusion in global indexes. Foreign ownership of bonds under the Fully Accessible Route (FAR) is at 966 billion rupees ($11.63 billion), or …
Foreign holdings of certain India bonds near record on index inclusion bets Read More »
By Dhwani Pandya and Aditya Kalra MUMBAI (Reuters) – Gucci, Cartier and Louis Vuitton are among brands to sign leases for stores in Indian tycoon Mukesh Ambani’s new Mumbai mall, as luxury firms and Reliance Industries seek to profit from strong economic growth and a rapid rise in the number of millionaires. The Jio World …
LVMH, Gucci to expand in India with new outlets in Reliance’s luxury mall Read More »
