MUMBAI (Reuters) – India is expected to grow by 7.2% in the current fiscal year, stronger than earlier expected, with its central bank opting for just a one-quarter-point rate cut in that period, Fitch Ratings said in its quarterly Global Economic Outlook (GEO) report published on Tuesday. The ratings agency has also raised its world …
Fitch Ratings raises India’s 2024/25 GDP forecast to 7.2% Read More »
By Jayshree P Upadhyay and Ira Dugal MUMBAI (Reuters) – India’s markets regulator is considering a series of tweaks to its derivative trading rules, according to two sources, as it seeks to address risks arising from explosive growth in options trading. The new rules could include higher margins for options contracts and more detailed disclosures, …
Exclusive-India regulator plans tweaks to address derivative trading risks Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee gained on Tuesday, boosted by dollar sales from state-run banks, likely on behalf of merchant clients, but traders expect the domestic currency’s gains to be limited as importers may step in to cover hedging requirements. The rupee was at 83.4750 against the U.S. dollar as of …
Rupee ticks higher, aided by state-run banks’ dollar sales Read More »
By Brijesh Patel (Reuters) -Gold prices slipped on Monday, hurt by higher Treasury yields, while investors awaited more U.S. data and comments from Federal Reserve officials throughout the week for more cues on the outlook for monetary policy. Spot gold was down 0.7% at $2,317.08 per ounce as of 02:06 p.m. ET (1806 GMT). U.S. …
Gold dips on higher bond yields, Fed speakers on tap Read More »
NEW DELHI (Reuters) -Indian police said on Monday they had launched an investigation into Som Distilleries after the government’s child rights agency announced it had found children working at a distillery. The National Commission for Protection Of Child Rights (NCPCR) said on Saturday it had found more than 50 children at a plant in Raisen …
Police investigate India’s Som Distilleries over suspected child labour Read More »
By Nikunj Ohri and Ira Dugal NEW DELHI (Reuters) – The Indian government is considering lowering personal tax rates for certain categories of individuals, which could help boost consumption in the Asia’s third-largest economy, two government sources told Reuters. The plan could be announced in July, when Prime Minister Narendra Modi’s government presents the first …
India considering personal tax rate cuts to boost consumption, sources say Read More »
By Harshit Verma (Reuters) – Gold prices rose over 1% on Friday and were on track for their first weekly gain in four, as signs of slowing inflation in the U.S. raised hopes of a rate cut later this year and a stock selloff across Europe also lent support. Spot gold was up about 1.3% …
Gold set for first weekly gain in four on US rate-cut hopes Read More »
(Reuters) – The Indian government has cut the windfall tax on petroleum crude to 3,250 Indian rupees ($38.90) per metric ton from 5,200 rupees, effective June 15, according to a notification issued on Friday. The tax, which is revised every fortnight, remained unchanged at zero for diesel and aviation turbine fuel. India on June 1 …
BENGALURU (Reuters) – Bharti Airtel said on Friday it had prepaid 79.04 billion Indian rupees ($946.41 million) to the Indian government’s telecom department, clearing all high-cost deferred liabilities related to spectrum acquired in the auction in 2012 and 2015. ($1 = 83.5160 Indian rupees) (Reporting by Sethuraman NR in Bengaluru; Editing by Anil D’Silva)
BENGALURU (Reuters) -IndiGo operator Interglobe Aviation said on Friday it would receive compensation from Pratt & Whitney through its affiliate for powder metal issues that grounded some of its aircraft. The company, which did not reveal the amount, said it will receive the compensation through the Pratt & Whitney affiliate, International Aero Engines. Over 70 …
India’s IndiGo to receive compensation from Pratt & Whitney for engine issues Read More »
