By Deep Kaushik Vakil (Reuters) – Gold hit a more than one-week peak on Thursday, as the dollar tumbled after weaker U.S. economic data on expectations of the Federal Reserve skipping an interest rate hike at its June policy meeting. Spot gold was up 0.7% at $1,976.81 per ounce by 1:45 p.m. EDT (1745 GMT), …
Gold climbs as rate hike bets ebb after weaker US data Read More »
By Ira Dugal MUMBAI (Reuters) – A surge in investments that offset sluggish consumption to boost India’s growth in 2022-23 is expected to power the economy in the current financial year as the government pushes ahead with massive capital expenditure plans, economists said. This, in turn, could reflect across sectors like construction, which have a …
Investment more than consumption leading India’s economic growth – economists Read More »
MUMBAI (Reuters) – Canadian investor Brookfield said on Thursday it had acquired a controlling stake in Indian solar-panel maker CleanMax Enviro Energy Solutions for $360 million. Brookfield did not specify the size of the stake it acquired but the deal deepens Brookfield’s presence in India, where it has already invested billions in private equity and …
Brookfield acquires controlling stake in India’s CleanMax Solar for $360 million Read More »
By Richa Naidu, Emma Pinedo and Emilio Parodi MADRID (Reuters) – Spanish police raided three clandestine tobacco factories early this year, seizing nearly 40 million euros ($44 million) worth of tobacco leaf and illicit cigarettes. At one, in the northern town of Alfaro, they found 10 Ukrainian workers, five of them war refugees, who’d been …
(Reuters) -J.P.Morgan raised its forecast for India’s annual growth by 50 basis points to 5.5% for fiscal 2024, but warned that a global economic slowdown and tighter financial conditions will still drag the economy. The change comes after growth in India’s gross domestic product (GDP) accelerated to 6.1% in the March quarter, government data showed, …
J.P.Morgan hikes India’s FY24 GDP forecast to 5.5% Read More »
By Munsif Vengattil, Aditya Kalra and Jane Lanhee Lee NEW DELHI/OAKLAND, California (Reuters) -Big companies including a Foxconn joint venture that bid for India’s $10 billion semiconductor incentives are struggling due to the lack of a technology partner, a major setback for Prime Minister Narendra Modi’s chipmaking ambitions. A planned $3 billion semiconductor facility in …
Modi’s chip making plan flounders as firms struggle to find tech partners Read More »
By Jayshree P Upadhyay Mumbai (Reuters) -India’s market regulator is canvassing opinion on plans to strengthen disclosure requirements for a set of “high-risk” offshore funds investing in the local markets, it said on Wednesday. The move, which could help unravel opaque structures through which some offshore funds invest in Indian listed companies, follows the regulators’ …
Indian market regulator aims for more disclosures by offshore funds Read More »
By Ashitha Shivaprasad (Reuters) – Gold firmed on Wednesday supported by lower Treasury yields but the dollar’s strength, with more interest rate hikes in the offing and optimism about a U.S. debt deal kept bullion on course for its first monthly dip in three. Spot gold was up 0.4% at $1,966.89 per ounce by 1418 …
Gold firms; set for monthly loss on dollar strength, Fed’s rate hike bets Read More »
By Manoj Kumar, Nikunj Ohri and Sarita Chaganti Singh NEW DELHI (Reuters) – India’s economic growth accelerated to 6.1% in the March quarter, government data showed on Wednesday, boosted by government and private capital spending even as private consumption remained sluggish. Wednesday’s reading showed India remains one of the fastest growing emerging economies, especially with …
BENGALURU (Reuters) – The Indian government is proposing to sell up to a 3% stake in state-owned miner Coal India Ltd, it said in a filing on Wednesday. The proposal includes a sale of up to 1.5% stake in the company on June 1-2, with an option to sell an additional 1.5% stake. The government …
Indian government proposes to sell 3% stake in Coal India Read More »
