Reuters India Business

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

6 Dec 2021

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

6 Dec 2021

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

6 Dec 2021

(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

3 Dec 2021

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 …

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

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

3 Dec 2021

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

3 Dec 2021

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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Indian insurer Star Health cuts IPO size after tepid subscription

3 Dec 2021

By Nupur Anand MUMBAI (Reuters) -India’s largest private health insurer Star Health will cut the offer for sale portion of its IPO after the offering received a tepid response in its subscription period ending on Thursday, a source said. The IPO was subscribed at just 79%, getting bids worth $427.37 million, despite it extending the …

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Indian shares end lower on Omicron uncertainty, Reliance drag

3 Dec 2021

By Vishwadha Chander BENGALURU (Reuters) – Indian shares ended lower on Friday, dragged down by most major sector indexes and heavyweights Reliance and Kotak Mahindra Bank, while concerns around two cases of the Omicron coronavirus variant in the country further weighed on sentiment. The blue-chip NSE Nifty 50 index ended 1.18% down at 17,196.70 and …

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