Reuters India Business

BENGALURU (Reuters) -India’s Reliance Industries is in talks with foreign-currency loan lenders to raise up to $2 billion to fund the expansion of its oil-to-telecom conglomerate, Bloomberg News reported on Thursday, citing sources. Reliance, led by billionaire Mukesh Ambani, plans to use India’s dedicated external commercial borrowing route to secure the loan, the report said. …

India’s Reliance to raise up to $2 billion to fund expansion -Bloomberg News Read More »

MOSCOW (Reuters) – Russia’s No. 2 lender VTB on Thursday said it would increase the number of countries to which retail clients can send money to 25 from 11, with India and Turkey the key, new destinations. VTB was particularly hard hit by sweeping Western sanctions, cut off from transactions in major global currencies and …

Russia’s VTB to launch cross-border transfers with India, Turkey Read More »

By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares rose on Thursday, aided by an uptick in consumer and pharma stocks, after the U.S. Federal Reserve left rates unchanged as anticipated but hinted at the possibility of more hikes later this year. The blue-chip Nifty 50 index was up 0.18% at 18,789.55 as of 10:29 a.m. IST, …

Indian shares steady after Fed’s hawkish pause; FMCG stocks rise Read More »

By Daniel Wiessner (Reuters) – A U.S. appeals court on Wednesday revived a lawsuit by a white former employee of Indian IT services company Tech Mahindra Ltd’s U.S. subsidiary, alleging that the company discriminates against non-South Asian workers. A unanimous three-judge panel of the 3rd U.S. Circuit Court of Appeals said the judge who dismissed …

Tech Mahindra sub must face claims of bias against non-South Asian workers Read More »

By Siddharth Cavale NEW YORK (Reuters) – Walmart’s Flipkart marketplace and PhonePe payments business in India could be $100 billion businesses buoyed by strong growth, the retailer’s chief financial officer said on Wednesday at an investor conference. Walmart does not break out sales of Flipkart and PhonePe but over the past few months, executives have …

Flipkart and PhonePe could be $100 billion businesses in India, Walmart says Read More »

NEW DELHI (Reuters) – Indian Oil Corp will set up an 80,000 tonnes sustainable aviation fuel plant with LanzaJet in Haryana, the refiner’s chairman said on Wednesday. The company is looking at an investment of about 23 billion rupees ($280.1 million), S.M. Vaidya said on the sidelines of an industry event in New Delhi. The …

Indian Oil Corp to set up aviation fuel plant with LanzaJet in Haryana Read More »