By Deep Kaushik Vakil (Reuters) – Gold dropped nearly 1% to a three-month low on Thursday after U.S. Federal Reserve Chair Jerome Powell’s testimony, with the possibility of more rate hikes overriding any support from signs of a softer labour market. Spot gold was down 0.9% at $1,914.19 per ounce by 2:34 p.m. EDT (1834 …
Gold hits three-month low in hawkish Fed’s shadow Read More »
(Reuters) – General Electric’s aerospace unit said on Thursday it has signed an agreement with India’s state-owned Hindustan Aeronautics Ltd to make fighter jet engines for the Indian Air Force. The development comes at a time when Indian Prime Minister Narendra Modi is on an official state visit to the United States. The agreement includes …
GE to jointly produce fighter jet engines in India Read More »
By Nichola Groom (Reuters) – A new venture backed by Indian solar panel maker Vikram Solar Ltd said on Thursday it will invest up to $1.5 billion in the U.S. solar energy supply chain, beginning with a factory in Colorado next year. The newly formed company, VSK Energy LLC, aims to leverage India’s extensive solar …
By M. Sriram and Aditya Kalra MUMBAI (Reuters) -Deloitte and three board members of Byju’s have severed ties with the Indian startup, said sources on Thursday, amid the edtech company’s escalating legal battle with its lenders and its plummeting valuation in the eyes of some investors. Deloitte, which was slated to audit Byju’s until 2025, …
Byju’s auditor Deloitte, three board members sever ties with embattled edtech startup Read More »
By Aditya Kalra, Munsif Vengattil and Aditi Shah NEW DELHI (Reuters) – Elon Musk is eager to bring his Starlink satellite broadband to India, but the world’s richest man faces strong resistance from Mukesh Ambani, Asia’s wealthiest, who runs Indian telecom giant Reliance Jio. Following a meeting with Indian Prime Minister Narendra Modi in the …
Battle of billionaires: Musk’s Starlink eyes India, Ambani resists Read More »
By Siddhi Nayak and Swati Bhat MUMBAI (Reuters) -The Indian rupee is likely to strengthen beyond the 80-per-dollar level in 2024, helped by foreign inflows, while the benchmark 10-year bond yield could rise towards 7.20%, Bank of America’s (BofA) top India treasury executive told Reuters on Thursday. “In my view, inflows through Global Capability Centres …
Rupee may strengthen to sub-80/USD in 2024 – BofA India treasurer Read More »
By Nikunj Ohri and Aftab Ahmed NEW DELHI (Reuters) -India’s federal government will likely assure its employees a minimum pension of 40%-45% of their last drawn salary by altering the current market-linked pension scheme to assuage some holdout states, two government officials told Reuters. The Ministry of Finance, in a response after the report was …
Indian govt likely to offer assured base pension in compromise with states – sources Read More »
MUMBAI (Reuters) – Fitch Ratings raised its growth forecast for the Indian economy to 6.3% for the current fiscal year, from 6% earlier, on the back of robust growth in the first quarter and strong near-term momentum, it said on Thursday. “The economy also continues to benefit from high bank credit growth and infrastructure spending …
Fitch raises India FY24 GDP forecast to 6.3% on strong growth momentum Read More »
BENGALURU (Reuters) – Private equity firm Carlyle plans to sell its entire 2.53% stake in Indian logistics firm Delhivery via its special purpose vehicle for at least $86 million, according to a term sheet seen by Reuters on Thursday. Carlyle plans to sell Delhivery’s shares via CA Swift Investments at a floor price of 385.50 …
PE firm Carlyle to sell stake in India’s Delhivery for at least $86 million Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee rose early on Thursday on back of overnight losses on the dollar index, but was hindered by an established resistance level, traders said. The rupee traded at 81.9475 to the U.S. dollar by 10:50 a.m. IST, up from 82.0375 in the previous session. The local currency …
Indian rupee rises, but runs into familiar resistance; GBP/INR in focus Read More »
