By Nimesh Vora MUMBAI (Reuters) – The Indian rupee barely changed to the dollar on Wednesday, unable to break away from the narrow range that has persisted over recent sessions, while premiums retreated. The rupee was at 82.0050 to the U.S. dollar by 10:48 a.m. IST, compared with 82.0250 in the previous session. The currency …
Rupee continues to hold near 82/USD, forward premiums pull back Read More »
By David Randall NEW YORK (Reuters) – A blazing U.S. stock market rally left shares of energy companies behind in the first six months of 2023 as faltering global growth sapped expectations of oil demand. Some contrarian investors are betting a second half rebound may be in the works. While the U.S. economy has been …
Analysis-Contrarians bet U.S. energy shares will shake doldrums in 2023’s second half Read More »
By Deep Kaushik Vakil (Reuters) – Gold reversed course to slip on Tuesday after strong U.S. economic readings, while traders positioned for Federal Reserve Chair Jerome Powell’s speech and more data that could offer clues on future interest rate hikes. Spot gold fell 0.6% to $1,911.53 per ounce by 2:08 p.m. EDT (1808 GMT), while …
Gold slips after strong US data as focus turns to Powell Read More »
NEW DELHI (Reuters) -Indian education technology startup Byju’s has made up a shortfall in payments to a national pension fund, a lawyer representing the company – which is battling a U.S. lawsuit over a $1.2 billion loan – told Reuters on Tuesday. The comments from Zulfiquar Memon of MZM Legal came after labour ministry sources …
Edtech startup Byju’s making up shortfall to India pension fund Read More »
By Dawn Chmielewski, Danielle Broadway and Sachin Ravikumar LOS ANGELES/GLASTONBURY, England (Reuters) – Call it Beyflation. Or maybe Swiftflation. The cost of certain goods is retreating in some places, but that doesn’t include live music. Concert tickets have surged in price, to the point where economists are noticing. Fans are shelling out a fortune for …
Beyonce-flation? How stars are driving prices up as fans flock to concerts Read More »
BENGALURU (Reuters) – Dutch-listed technology investor Prosus NV has slashed the valuation of troubled Indian edtech startup Byju’s to $5.1 billion according to its annual report, a fall of more than 75% from the startup’s $22 billion valuation last year. Prosus cut the value of its 9.6% stake in Byju’s to around $493 million in …
Prosus slashes India’s Byju’s valuation to $5 billion Read More »
BENGALURU (Reuters) – Housing Development Finance Corporation (HDFC) and HDFC Bank are working towards completing the merger of the two financial behemoths by July 1 and may set July 13 as the record date for swapping shares, HDFC said in an exchange filing on Tuesday. HDFC Chairman Deepak Parekh had said in a CNBC-TV18 report that both …
India’s HDFC, HDFC Bank merger to be effective July 1 Read More »
DHAKA (Reuters) – India’s Amara Raja Group said on Tuesday it has secured a $130 million solar power project in Bangladesh, marking its debut in the international market. The project consists of the engineering, design, supply, installation, and commissioning of a 100 megawatt solar power plant. It will be funded by the EXIM Bank of …
India’s Amara wins solar power project in Bangladesh Read More »
MUMBAI (Reuters) -India’s equity, bond, foreign exchange and money markets will be shut on Thursday for the Eid holiday, instead of Wednesday as scheduled earlier, the National Stock Exchange and the Reserve Bank of India said on Tuesday. The shift comes after the government of Maharashtra, the state that is home to the country’s financial …
India markets to close for Eid holiday on Thursday, not Wednesday Read More »
By Chris Thomas BENGALURU (Reuters) -Indian shares inched up in a narrow range on Tuesday, buoyed by gains in HDFC Life Insurance, while the stock exchange pushed a market holiday to Thursday from Wednesday. The blue-chip Nifty index was up 0.22% at 18,731.6 as of 01:22 p.m. IST, while the S&P BSE Sensex rose 0.23% …
Indian shares gain on HDFC Life; market holiday pushed to Thursday Read More »
