By Brijesh Patel (Reuters) – Gold was near a more than three-week low on Thursday, dragged by a robust dollar and elevated bond yields, while investors remained cautious ahead of July U.S. nonfarm payrolls data. Spot gold was flat at $1,933.80 per ounce by 2:34 p.m. EDT (1834 GMT), after hitting its lowest since July …
Gold at three-week low as higher dollar, yields dim shine Read More »
By Shivangi Acharya NEW DELHI (Reuters) – India’s top bureaucrat reviewed a production-linked incentive scheme on Thursday amid a push from industry for faster payouts to improve the programme that aims to boost investment in manufacturing, a government official said. The scheme is crucial to boosting the broader Indian economy which has been starved of …
India reviews production incentive scheme amid overhaul push – source Read More »
By Aditya Kalra and Shivangi Acharya NEW DELHI (Reuters) – India’s Commerce Minister Piyush Goyal met senior U.S.-based Tesla executives last week in a closed-door meeting to discuss the carmaker’s plans to establish a manufacturing plant in the country, two people with direct knowledge of the matter told Reuters. Tesla has expressed an interest in …
Tesla discusses India plans with commerce minister Goyal in Delhi -sources Read More »
(Reuters) – India’s LIC Housing Finance on Thursday reported a 43% rise in first-quarter profit, helped by strong demand for housing loans. The company posted a profit after tax of 13.24 billion rupees ($159.95 million) for the quarter ended June 30, from 9.25 billion rupees an year ago. Housing demand in India has risen in …
India’s LIC Housing Finance Q1 profit jumps on strong loan demand Read More »
By Nishit Navin BENGALURU (Reuters) -Bharti Airtel, India’s No.2 telecom carrier by users, posted a bigger-than-expected rise in quarterly revenue on Thursday as it signed up more subscribers for its higher-priced 4G services and benefited from tariff hikes in its base plans. Airtel, market leader Reliance Jio and other telcos have a dual focus of …
India’s Bharti Airtel beats Q1 revenue view on 4G subscriber growth Read More »
BENGALURU (Reuters) – S&P Global Ratings on Thursday cut its outlook on Vedanta Resources, parent of Indian metals-to-oil conglomerate Vedanta Ltd, to “negative” from “stable,” citing increased funding risks. The rating agency said the billionaire Anil Agarwal-owned company’s “weakened access” to cash flow from its operating units amid challenging external financing conditions raised its refinancing …
S&P cuts outlook on Vedanta Resources on funding risks Read More »
By Manoj Kumar NEW DELHI (Reuters) – India’s booming construction sector, driven by expanding urban housing demand and state spending on infrastructure such as roads, could add up to 30 million jobs by March 2030 to the current 70 million, an industry report said on Thursday. The real estate sector, which suffered massively during the …
India’s booming construction sector could add 30 million jobs by 2030 – Knight Frank Read More »
BENGALURU (Reuters) – Engineering and construction company KEC International posted a bigger-than-expected rise in first-quarter profit on Thursday boosted by strong infrastructure demand. Consolidated profit for RPG Group’s flagship company rose 36.5% to 423.3 million rupees ($5.11 million), while revenue rose 27.9% year-on-year to 42.44 billion rupees. Analysts, on average, expected a profit of 332 …
India’s KEC International posts Q1 profit beat on strong demand Read More »
BENGALURU (Reuters) – Indian air conditioner maker Blue Star on Thursday reported an over-12% rise in first-quarter profit, as a warmer summer led to a rise in sale of air conditioners. Consolidated net profit rose to 833.5 million rupees ($10 million) for the quarter ended June 30, from 742.5 million rupees a year ago. Revenue …
India’s Blue Star posts rise in Q1 profit on robust sales Read More »
By Aftab Ahmed and Munsif Vengattil NEW DELHI (Reuters) -India on Thursday said it will impose a licensing requirement for imports of laptops, tablets and personal computers with immediate effect, a move that could hit hard the likes of Apple, Dell and Samsung and force them to boost local manufacturing. Current regulations in India allow …
India mandates licensing for laptop, tablet imports in blow to Apple, Dell Read More »
