Reuters India Business

By Gopika Gopakumar and Federico Maccioni MUMBAI/DUBAI (Reuters) -Middle Eastern bank Emirates NBD will buy a 60% stake in Indian private lender RBL Bank for $3 billion, in the largest cross-border acquisition in India’s financial sector. Emirates NBD will invest 268.53 billion Indian rupees ($3.05 billion) in the bank through a preferential issue of shares, …

Dubai’s Emirates NBD to buy 60% stake in India’s RBL Bank for $3 billion Read More »

MUMBAI (Reuters) -Indian private lender HDFC Bank reported a higher-than-expected profit for the second quarter on Saturday, on steady loan growth and higher trading income even as lending margins remained weak. The country’s largest private lender by market capitalisation posted a standalone net profit of 186.4 billion Indian rupees ($2.12 billion) for the three months …

India’s HDFC Bank beats quarterly profit estimates; margins remain weak Read More »

MUMBAI (Reuters) -Indian private lender IndusInd Bank reported a net loss for the second quarter on Saturday, in its first earnings report since a new chief executive was appointed as the lender stepped up provisions for bad loans and continued to shrink its business. The Mumbai-based bank posted a standalone net loss of 4.36 billion …

India’s IndusInd Bank reports net loss in first quarter after management change Read More »

MUMBAI (Reuters) -Indian private lender ICICI Bank reported a higher-than-expected profit for the second quarter on Saturday, as lower provisions against bad loans balanced out a fall in treasury income. The country’s second-largest private lender by market capitalisation posted a standalone net profit of 123.59 billion Indian rupees ($1.40 billion) for the three months ended …

India’s ICICI Bank beats quarterly profit estimates on lower provisions for bad loans Read More »

By Chibuike Oguh and Amanda Cooper NEW YORK/LONDON (Reuters) -The U.S. dollar was headed for a weekly loss against the Swiss franc and yen on Friday, amid concern about trade tensions and unease among some regional American banks. The U.S. federal government shutdown has also choked off the release of key macroeconomic data, leaving investors …

Dollar set for weekly loss amid investor unease about trade Read More »

WASHINGTON (Reuters) -U.S. President Donald Trump reiterated on Friday that India will stop purchasing crude oil from Russia as part of a pressure campaign on Moscow to end the war with Ukraine. Earlier in the week, Trump said Prime Minister Narendra Modi told him India would stop buying oil from Russia, prompting India officials to …

Trump says India will soon stop buying Russian oil Read More »

By Sherin Elizabeth Varghese (Reuters) -Gold prices fell more than 2% on Friday after hitting a record high above $4,300 per ounce, pressured by a firmer dollar and U.S. President Donald Trump’s comment that a “full-scale” tariff on China would be unsustainable. Spot gold was down 2.6% at $4,211.48 per ounce at 01:38 p.m. ET …

Gold pulls back after record high on firm dollar, Trump’s China remarks Read More »

By Chandini Monnappa and Sethuraman N R BENGALURU/NEW DELHI (Reuters) -Indian billionaire Mukesh Ambani’s Reliance Industries missed quarterly profit estimates on Friday, as steady gains in its retail and digital services arms failed to offset the weakness at its legacy oil-to-chemicals business. While revenue from its oil-to-chemicals segment grew year-on-year due to recovery in fuel …

Ambani’s Reliance disappoints as o2c weakness offsets retail, digital gains Read More »