By Harshit Verma (Reuters) – Gold prices were nearly steady on Thursday despite a stronger dollar and an uptick in bond yields as caution sets in ahead of Federal Reserve chair Jerome Powell’s speech at the Jackson Hole symposium. Spot gold was up 0.1% at $1,916.69 per ounce by 01:48 p.m. EDT (1748 GMT). U.S. …
Gold little changed as traders brace for Fed’s Powell’s speech Read More »
(Reuters) – India’s Reliance Industries said on Thursday it has agreed with Oberoi Hotels and Resorts to co-manage three property projects spread across India and the United Kingdom, deepening its foray into the hospitality industry. Oberoi-run Anant Vilas in Mumbai and an unnamed planned project in India’s western state of Gujarat, and Mukesh Ambani’s Reliance-owned …
Reliance, Oberoi to jointly run three properties in UK, India Read More »
BENGALURU (Reuters) – Paytm shareholder Antfin is likely to sell a 3.6% stake in the Indian payments firm through a block deal on Friday as it further reduces its stake in the company, CNBC-TV18 reported on Thursday. The floor price for the sale is set at 880 rupees per share, the report added, which is …
Paytm shareholder Antfin to sell 3.6% stake via block deal – report Read More »
By Swati Bhat MUMBAI (Reuters) – India’s monetary policy committee (MPC) will closely monitor the factors impacting inflation and take necessary action, although it expects the recent spike in food prices to be short-lived, minutes of the latest MPC meeting showed. “While the vegetable price shocks are expected to correct quickly with the arrival of …
India MPC to closely monitor food price spike to gauge inflation impact – minutes Read More »
By Arpan Chaturvedi NEW DELHI (Reuters) – Indian budget airline SpiceJet told a court on Thursday it was “struggling to stay afloat”, as it was ordered to make a payment to its former owner over money owed. In 2018 SpiceJet lost an arbitration case arising out of share transfers from former owner Kalanithi Maran to …
Indian airline SpiceJet tells court it is ‘struggling to stay afloat’ Read More »
(Corrects to S&P report from S&P Global in headline) MUMBAI (Reuters) – Indian banks’ aggregate dividend payout to shareholders is set to rise to its highest level in at least seven years in 2023-2024, helped by strong business metrics and healthy credit growth, a report from S&P Global Market Intelligence showed. India’s brisk economic activity …
Indian banks’ dividend to rise to at least 7-year high in FY24 – S&P report Read More »
By Bharath Rajeswaran and Manvi Pant BENGALURU (Reuters) -Indian shares reversed intraday gains on Thursday, as a slide in Reliance Industries overpowered the rise in IT stocks, while investors turned their focus to the release of Reserve Bank of India’s (RBI) policy meeting minutes, after market hours. The Nifty 50 settled 0.29% lower at 19,386.70, …
Indian shares slip as Reliance slide overpowers IT gains Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee marched to a three-week high on Thursday on a pullback in U.S. Treasury yields and the central bank’s resolve to defend the currency. The rupee was at 82.5125 to the U.S. dollar by 11:20 a.m. IST, up from 82.6850 on Wednesday. The rupee earlier hit 82.3725, …
Rupee rises more on retreating US yields, but analysts say rally unsustainable Read More »
By Trixie Yap and Ahmad Ghaddar (Reuters) – India’s diesel exports to Singapore are set to hit a 19-month high in August and exceed 330,000 metric tons, boosted by cheaper freight costs and low inventories in the Asian oil hub, traders and analysts said. The country’s exports of the fuel for August to Europe, on …
India diesel exports to Singapore set for highs in Aug, drop for Europe -trade Read More »
By Rajendra Jadhav and Mayank Bhardwaj MUMBAI/NEW DELHI (Reuters) -India is expected to ban mills from exporting sugar in the next season beginning October, halting shipments for the first time in seven years, as a lack of rain has cut cane yields, three government sources said. India’s absence from the world market would be likely …
India set to ban sugar exports for first time in 7 years Read More »
