NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi said there is a risk of a “new model of colonialism” if nations with critical minerals do not regard custodianship as a “global responsibility”, as firms race to secure resources central to energy transition goals. “We are experiencing this challenge for critical materials, rare earths and …
By Nikunj Ohri NEW DELHI (Reuters) – India’s finance ministry is considering a proposal to include electric vehicles under the Reserve Bank of India’s (RBI) priority sector guidelines, a move that would make it cheaper to raise funds, a government official said on Saturday. The proposal was made to the finance ministry by the power …
India considering EVs for priority sector lending, official says Read More »
By Nikunj Ohri NEW DELHI (Reuters) – India is considering raising the retirement age for chairmen and managing directors of state-owned banks, which control over 60% of the banking system’s assets, a government official said on Saturday. The proposal under consideration is to raise the age limit for the chairman of the country’s largest lender, …
India considers raising retirement age for state-owned bank bosses Read More »
By Aditi Shah and Aditya Kalra NEW DELHI (Reuters) – From fan blades to escape slides, critical parts are missing from at least two planes of India’s bankrupt Go First airline, its Ireland-based lessor ACG Aircraft Leasing has told a court as it seeks to recover aircraft. Go First and many of its foreign lessors …
Fan blades, engine parts go missing from Go First jets, lessor says Read More »
NEW DELHI (Reuters) – Medi Assist Healthcare Services has filed draft papers with the capital markets regulator Securities and Exchange Board of India for an initial public offering (IPO). The move by Medi Assist, its second attempt at a public listing, comes as investors are increasingly bullish on the medical insurance sector with sales of …
India’s Medi Assist Healthcare files draft papers for IPO Read More »
By Rajendra Jadhav MUMBAI (Reuters) -India has imposed a 20% duty on exports of parboiled rice with immediate effect, a move that could further reduce shipments from the world’s largest exporter and lift global rice prices, which are already trading near their highest levels in 12 years. Last month, India surprised buyers by imposing a …
India expands curbs on rice exports with 20% duty on parboiled grade Read More »
By Harshit Verma (Reuters) – Gold fell on Friday, en route to snap a four-session streak of gains after Federal Reserve Chair Jerome Powell left the door open to more interest rate hikes. Spot gold fell 0.4% to $1,910.31 per ounce by 1:44 p.m. EDT (1744 GMT). U.S. gold futures settled 0.4% lower at $1,939.90. …
Gold drops after Powell leaves door open to more rate hikes Read More »
BENGALURU (Reuters) – India’s market regulator proposed on Friday that brokers and mutual funds should stop the use of unregistered financial influencers in advertising and marketing campaigns. The Securities and Exchange Board of India (SEBI) said in a consultation paper that influencers not registered with the relevant financial sector regulator might not have the requisite …
India’s regulator proposes brokers stay away from unregulated financial influencers Read More »
By M. Sriram MUMBAI (Reuters) – Swiggy, the Softbank-backed food delivery company, is eyeing a 2024 stock market listing and has initiated talks with bankers to assess its valuation, after halting the process for months due to weak markets, three sources with direct knowledge of the matter said. Swiggy, which delivers food from restaurants and …
Indian food delivery firm Swiggy restarts IPO plans, aims for 2024 listing- sources Read More »
BENGALURU (Reuters) -JSW Steel is looking to pick up a 20 to 40% stake in the metallurgical coal unit of Canada’s Teck Resources, Bloomberg News reported on Friday, citing the Indian steel producer’s chairman, Sajjan Jindal. India’s biggest steel producer intends to bid for 20% to 40% of Elk Valley Resources Ltd., a unit of …
India’s JSW Steel to pick up 20%-40% stake in Teck’s coal unit – report Read More »
