By Deep Kaushik Vakil (Reuters) – Gold prices on Wednesday fell to their lowest in nearly 4 months on bets for interest rates remaining higher for longer, while U.S. Federal Reserve Chair Jerome Powell reiterated a hawkish stance. Spot gold fell 0.1% to $1,912.49 per ounce by 1:43 p.m. EDT (1743 GMT), after hitting its …
Gold hits near 4-month low on bets for hawkish Fed strategy Read More »
NEW DELHI (Reuters) – India has pushed back plans to collect a 20% tax on annual overseas spending of more than 700,000 Indian rupees ($8,500) by three months to provide banks with more time to prepare their systems, according to a government statement late on Wednesday. The move to tax overseas spending above the threshold …
India pushes back plan to collect 20% tax on overseas spending beyond a certain cap Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) – India on Wednesday proposed a cap on transmission charges levied on industrial and commercial consumers by states for purchase of power generated through renewable energy sources, according to a government order seen by Reuters. The move is expected to boost renewable energy consumption and investments but is likely …
India eyes cap on state transmission charges on green power purchase by industries Read More »
NEW DELHI (Reuters) – The Indian government said on Wednesday that it had listed 30 minerals, including nickel, titanium, vanadium and tungsten as critical to drive its clean energy push. The federal government had previously listed 12 strategic minerals, including lithium – a critical raw material for electric vehicle batteries. Lithium reserves were discovered earlier …
India’s govt lists 30 critical minerals in clean energy push Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -India’s blue-chip Nifty 50 and Sensex stock indexes rallied about 1% each to hit record highs on Wednesday, lifted by gains in some Adani group stocks and heavyweight financial stocks. The Nifty index rose as much as 1.03% to a record high of 19,011.25 as of 1:55 p.m. IST, after …
Indian shares hit record highs; Nifty scales 19,000 Read More »
MUMBAI (Reuters) – S&P Global Ratings could consider an upgrade in India’s sovereign rating if the country’s fiscal metrics improve on a sustained basis and inflation is persistently lower, aided by monetary policy actions, an analyst at the agency said on Wednesday. S&P in May affirmed its ‘BBB-‘ long-term and ‘A-3’ short-term, unsolicited foreign and …
BENGALURU (Reuters) -Australia-listed investment firm GQG Partners and other investors have bought around $1 billion of additional stake in India’s Adani Group companies, a report by the Economic Times newspaper said on Wednesday. The investors have bought 2.2% stake comprising of 35.2 million shares in Adani Green Energy Ltd and 1.6% stake comprising of 18 …
GQG, others buy around $1 billion of additional stake in India’s Adani Group – ET Read More »
NEW DELHI (Reuters) – India will provide incentives worth 1.4 trillion rupees ($17.08 billion) to states for power sector reforms in 2023-24, the government said in a statement on Wednesday. ($1 = 81.9897 Indian rupees) (Reporting by Shivam Patel in New Delhi; Editing by Jacqueline Wong)
By Aditi Shah and Aditya Kalra NEW DELHI (Reuters) -India’s antitrust body is scrutinising Air India’s planned merger with Vistara and has asked the company why it should not be investigated further over competition concerns, potentially delaying the process, two sources with direct knowledge said. It is a new challenge for formerly government-owned Air India, …
India flags antitrust concerns with Air India, Vistara merger -sources Read More »
BENGALURU (Reuters) -India’s Sheela Foam will acquire rival Kurlon Enterprise for a cash consideration of 32.50 billion rupees ($396.37 million), Moneycontrol reported on Wednesday, sending the Sleepwell mattress maker’s shares up by 6.7%. The deal will be executed in two tranches and is expected to be concluded within a few months, a source familiar with …
India’s Sheela Foam to buy rival Kurlon in $396 million deal – Moneycontrol Read More »
