By Chris Thomas and Sethuraman N R BENGALURU (Reuters) -India’s Adani Group is confident of its governance and disclosure standards after a top court panel found no lapses at the conglomerate, its chairman said on Tuesday, calling a U.S. short-seller’s report earlier this year a “malicious attempt” at damaging its reputation. The panel “confirmed the …
India’s Adani confident of governance, slams Hindenburg Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee was unable to hold above 82 against the U.S. dollar on Tuesday on likely intervention by the central bank, traders said. The rupee was at 82.0350 to the dollar by 11:02 a.m. IST compared with 82.04 in the previous session. The local currency reached 81.9750 in …
Rupee unable to hold above 82/USD on possible RBI dollar buying Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices were little changed on Monday, with bullion traders still doubtful about whether the Federal Reserve may soon signal an end to its monetary tightening path. Spot gold was steady at $1,953.91 per ounce at 1:42 p.m. EDT (1742 GMT). U.S. gold futures settled 0.4% lower at $1,956.40. The …
Gold struggles for traction on doubts about Fed pause Read More »
MUMBAI (Reuters) – India will need to grow at a rate of 7.6% annually for the next 25 years to become a developed nation, according to a research paper published by the central bank in its monthly bulletin on Monday. India’s per capita income is currently estimated at $2,500, while it must be more than …
By Swati Bhat and Siddhi Nayak MUMBAI (Reuters) – Food price spikes in India, typical at the onset of the monsoon, drove up headline inflation in June, corroborating the monetary policy committee’s (MPC) view that the fight against inflation is far from over, the Reserve Bank of India said on Monday. “Monetary policy has to …
India’s fight against inflation far from over – RBI bulletin Read More »
NEW DELHI (Reuters) – India’s gasoline demand will likely recover from late August, while diesel consumption is expected to stay weak, an official at refiner Hindustan Petroleum Corp Ltd (HPCL) said on Monday. The local sale of diesel by private refiners is also denting sales by state-run companies, the official said. The official did not …
India’s gasoline demand likely to recover from late August – HPCL exec Read More »
(Reuters) – U.S. startup Fisker said on Monday it would produce 100 limited edition electric sports utility vehicles (SUVs) for the Indian market and expects to begin deliveries in the fourth quarter this year. The company had said in September it would begin selling its Ocean electric SUVs in India by July 2023, with local …
Fisker to sell limited edition electric SUVs in India by fourth quarter Read More »
MUMBAI (Reuters) – The Reserve Bank of India (RBI) bought $7.37 billion in the spot foreign exchange market in May, showed data released on Monday as part of the central bank’s monthly bulletin. The RBI did not sell any dollars in the reported month, the data showed. In April, the central bank had bought a …
India cenbank buys $7.37 billion in spot forex market in May – bulletin Read More »
MUMBAI (Reuters) – HDFC Bank, India’s largest private lender, on Monday reported a bigger-than-expected 30% jump in first-quarter profit, helped by higher net interest income (NII) and strong loan growth. The lender’s standalone net profit was at 119.52 billion rupees ($1.46 billion), up from 91.96 billion rupees a year ago. Analysts had expected a profit …
India’s HDFC Bank posts bigger-than-expected jump in Q1 profit Read More »
By Aftab Ahmed GANDHINAGAR, India (Reuters) -The United States is working with India to develop ways to lower the cost of capital and increase private investment to fast-track India’s energy transition, U.S. Treasury Secretary Janet Yellen said on Monday. After a bi-lateral meeting with India’s finance minister Nirmala Sitharaman on the sidelines of a G20 …
US working with India to make investment easier for energy transition – Yellen Read More »
