By Ashitha Shivaprasad (Reuters) – Gold prices hovered near an eight-week peak on Wednesday after recent economic data re-ignited hopes that the U.S. Federal Reserve may soon hit pause on its interest rate-hiking cycle. Spot gold eased 0.1% at $1,977.25 per ounce by 01:43 p.m. ET (1743 GMT), as the U.S. dollar ticked up from …
Gold stalls near 8-week highs on Fed pause hopes Read More »
(This July 17 story has been refiled to clarify the details about Route Mobile CEO’s additional role in paragraph 6) BENGALURU (Reuters) – Belgium’s Proximus Opal, which provides cloud-based telecom platforms for enterprises, said on Monday it would buy a near-58% stake in Route Mobile for about 59.22 billion rupees ($721 million), at par with …
Belgium’s Proximus to buy 58% stake in India’s Route Mobile for $721 million (July 17) Read More »
By Chris Thomas BENGALURU (Reuters) -Billionaire Mukesh Ambani’s Reliance Industries, India’s most valuable company, will demerge its financial services business on Thursday as part of a move to unlock value. The local stock exchanges will on Thursday hold a special “price discovery” session for the first time ever to determine the value of Jio Financial …
Reliance-Jio Financial demerger: what you need to know Read More »
(Reuters) – India’s Enforcement Directorate conducted raids on the former promoter of Jet Airways, Naresh Goyal and his associates, ANI reported on Wednesday citing sources. (Reporting by Akanksha Khushi in Bengaluru; Editing by Jon Boyle)
By Alistair Smout, Muvija M and Nick Carey LONDON/GAYDON, England (Reuters) -India’s Tata Group will build an electric vehicle battery plant in Britain to supply its Jaguar Land Rover factories, delivering a major boost for a UK car industry in need of domestic battery production to help secure its future. The announcement marks Britain’s biggest …
India’s Tata chooses UK for $5 billion Jaguar Land Rover gigafactory Read More »
BENGALURU (Reuters) – India’s Tata Coffee reported a more-than-5% rise in its first-quarter profit on Wednesday as net sales in its tea plantation and instant coffee businesses improved. The coffee processor’s net profit attributable to shareholders rose to 474.8 million rupees ($5.8 million) in the quarter ended June 30 while revenue from operations rose nearly …
India’s Tata Coffee reports Q1 profit rise on improved net sales Read More »
NEW DELHI/BENGALURU (Reuters) – Google said on Wednesday an Indian court’s directive ordering the company to charge a lower 4% in-app payment on Disney’s streaming service in the country was a temporary measure until the court proceedings play out. Disney in India has gone to court in what is the latest and most high-profile challenge …
Google says court order on Disney app fee in India temporary Read More »
BENGALURU (Reuters) – Indian delivery firm Dunzo informed senior employees that the remaining portion of their salary, due from June, would be credited either by late August or the first week of September, Moneycontrol reported on Wednesday, citing an internal email. (Reporting by Kashish Tandon; Editing by Sonia Cheema)
By Nimesh Vora MUMBAI (Reuters) – Volumes on rupee non-deliverable forex derivatives have failed to pick up due to arbitrage opportunities and operational challenges, more than a month after the Indian central bank allowed banks to offer such derivatives to local clients. Since the Reserve Bank of India’s move in early June, the segment has …
India rupee NDF market sees tepid interest from local firms Read More »
By Rajendra Jadhav MUMBAI (Reuters) – India’s imports of sunflower oil are likely to fall in the coming months as it becomes uncompetitive against rival oils due to rising prices after Russia withdrew from the Black Sea grain deal, industry officials told Reuters. The drop in sunflower oil imports would force the world’s biggest buyer …
Top buyer India’s sunoil imports to fall as Black Sea grain deal expires Read More »
