By Anushree Ashish Mukherjee (Reuters) – Gold prices rose more than 1% to hit a record high on Thursday, helped by expectations of an interest rate cut by the Federal Reserve next week after U.S. data signalled a slowing of the economy. Spot gold was up 1.7% at $2,554.05 per ounce, as of 02:10 p.m. …
Gold hits all-time high as Fed rate-cut hopes bolster appeal Read More »
By Siddhi Nayak MUMBAI (Reuters) – Indian government-backed National Bank for Financing Infrastructure and Development (NaBFID) plans to raise 530 billion rupees ($6.31 billion) from the debt market this fiscal year, its top executive told Reuters on Thursday. The bank has already raised 90 billion rupees and the rest will be raised depending on the …
By Nandan Mandayam and Aditi Shah NEW DELHI (Reuters) – India’s top electric vehicle maker, Tata Motors, is luring consumers with free charging and steep discounts, while rival MG Motor has launched its first battery rental plan, in strategies aimed at propping up sales of the clean cars. Use of electric vehicles (EVs) has grown …
India’s Tata, MG offer free charging, battery rentals to lure EV buyers Read More »
NEW DELHI (Reuters) – India wants oil producers group OPEC and its allies to raise oil output as there are countries such as India where fuel demand is rising, the nation’s oil secretary Pankaj Jain said on Thursday. The Organization of the Petroleum Exporting Countries (OPEC) and allies, together called OPEC+, last week agreed to …
India wants OPEC+ to raise oil output, oil secretary says Read More »
By Neha Arora NEW DELHI (Reuters) – Indian metals-to-oil conglomerate Vedanta plans to step up nickel and nickel sulphate production and tap rising demand for EV battery materials in countries in northeast Asia, the company said on Thursday. “Vedanta Nico plans to expand its capacity for nickel and nickel sulphate production going forward,” the company …
India’s Vedanta plans to expand nickel sulphate production, to tap overseas demand Read More »
NEW DELHI (Reuters) – India expanded a government programme late Wednesday to provide citizens aged 70 and above with annual medical insurance coverage of 500,000 rupees ($6,000) per family, fulfilling a key poll promise by Prime Minister Narendra Modi. The new plan is expected to benefit an additional 60 million people, adding to Modi’s 2018 …
India raises free health cover for citizens aged above 70 years Read More »
By Richa Naidu and Dhwani Pandya LONDON/MUMBAI (Reuters) – For years, the world’s biggest condom maker Reckitt Benckiser designed products and marketing to lure Indian men to its Durex brand. Now, it is pushing a growth strategy by betting on women and rural consumers. India last year surpassed China to become the world’s most populous …
Durex makes India condom push for women, rural consumers Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold prices fell on Wednesday as the dollar and Treasury yields firmed after U.S. inflation data prompted investors to scale back expectations of an oversized rate cut from the Federal Reserve next week. Spot gold was down 0.1% at $2,513.19 per ounce at 1:46 p.m. ET (1746 GMT). U.S. …
Gold falls as CPI data dampens talk of oversized US rate cut Read More »
MUMBAI (Reuters) – India enforcement agency seized 1.29 million rupees ($15,360) during searches in Mumbai and Kolkata related to an ongoing investigation of front-running at Axis Mutual Fund, the agency said on Wednesday. The Enforcement Directorate (ED) started its investigation last year after the country’s market regulator identified 305 million rupees in wrongful gains due …
India enforcement agency conducts searches in Axis Mutual Fund front-running case Read More »
By VarunVyas Hebbalalu BENGALURU (Reuters) -A 26-year-old man has been arrested for allegedly setting fire to an Ola Electric showroom in the southern Indian state of Karnataka over unsatisfactory servicing of a recently-purchased e-scooter, a police official said on Wednesday. The incident comes amid growing public ire over servicing at Ola Electric, India’s no. 1 …
Ola Electric customer arrested after setting showroom ablaze in India, police say Read More »
