NEW DELHI (Reuters) – India has asked Japan and South Korea to renegotiate their free-trade agreements (FTAs) with the South Asian nation to make it “more balanced and equitable”, India’s trade minister said on Thursday, amid a widening trade gap with the countries. “Japan and Korea – we opened our markets for them. They have …
India asking for renegotiation of FTAs with Japan, S.Korea -trade minister Read More »
NEW DELHI (Reuters) – India’s tax department should handle search and seizure operations with “adequate caution” after carrying out due diligence to avoid harassment of honest taxpayers, a parliamentary committee on finance said in a report released on Thursday. The panel of lawmakers said due diligence should be fully carried out before taking enforcement action …
India’s parliamentary panel says tax dept should conduct evasion searches with caution Read More »
BENGALURU (Reuters) – New Delhi Television Ltd (NDTV), part of the Adani Group, posted a loss for the first quarter on Thursday, as Indian broadcasters remain pressured by a weak advertising environment. NDTV reported a consolidated net loss of 81.3 million rupees ($991,568.62) for the quarter ended June 30, compared to a profit of 232.2 …
India’s Adani-owned NDTV posts Q1 loss amid weak advertising demand Read More »
By Navamya Ganesh Acharya and Praveen Paramasivam BENGALURU/CHENNAI (Reuters) -Westlife Foodworld reported a smaller-than-expected rise in first-quarter profit on Thursday as higher expenses eclipsed increased sales at the operator of McDonald’s restaurants in west and south India. The franchisee said consolidated net profit after tax rose 22% to 288.3 million rupees ($3.52 million) for the …
McDonald’s India franchisee Westlife’s profit misses as costs mount Read More »
BENGALURU (Reuters) – Indian agricultural chemicals maker Coromandel International Ltd reported a marginal drop in first-quarter profit on Thursday, hurt by slowing demand. Consolidated net profit after tax for the quarter fell 1% to 4.94 billion rupees ($60.3 million) from 4.99 billion rupees a year earlier. Analysts, on average, expected a profit of 4.22 billion …
India’s Coromandel International posts Q1 profit fall on weak demand Read More »
By Nidhi Verma NEW DELHI (Reuters) – Indian refiner Bharat Petroleum Corp is still in talks with Russian oil major Rosneft to buy oil under a term deal, its head of finance said, adding that discounts on Russian oil are narrowing. “Yes, there were discussions happening with Rosneft but not yet concluded,” Vetsa Ramakrishna Gupta …
India’s BPCL still in talks for Russian oil deal, discounts narrow Read More »
BENGALURU (Reuters) – Shares of India’s Mahindra and Mahindra fell nearly 7% on Thursday after the conglomerate’s stake purchase in private lender RBL Bank raised concerns about the rationale of its capital allocation strategy. Analysts at Macquarie said that the investment and Mahindra’s intention to invest further in RBL creates near-term uncertainty around the company’s …
India’s Mahindra and Mahindra shares slump after RBL Bank stake buy stirs concern Read More »
By Nivedita Bhattacharjee BENGALURU (Reuters) – The Indian government’s effort to privatise part of its space programme by opening bids to build its small satellite launch rocket has attracted initial interest from 20 companies, an official overseeing the process told Reuters. India’s Small Satellite Launch Vehicle (SSLV) was developed by the Indian Space Research Organisation, …
India’s offer to privatise rocket has 20 potential bidders Read More »
By Ira Dugal and Siddhi Nayak MUMBAI (Reuters) – India’s private lenders are contending with soaring attrition amid strong demand for loans and the rush to capture a larger share of the crowded market. Credit demand grew 15% last financial year and is seen expanding 10-12% this year, driven by retail loans. This growth is …
India’s private lenders grab brisk business at the cost of soaring attrition Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was little changed on Thursday, unable to cash in on the U.S. dollar’s broad losses on expectations that a peak in the Federal Reserve’s policy rate has been reached. The rupee was at 81.9975 to the U.S. dollar by 11:00 a.m. IST, barely changed from 81.9950 …
Rupee unable to take advantage of dollar’s post-Fed losses Read More »
