MILAN (Reuters) – Italian pencils and creative tools maker F.I.L.A. said on Wednesday it was exploring options to support its Indian business. The Italian group is looking at an initial public offering among the options for its unit Doms, with the aim of maintaining control over its strategies, a source close to the matter said …
Italy’s FILA exploring options to support Indian unit Doms Read More »
By Rajendra Jadhav MUMBAI (Reuters) – Indian mills have shipped out the entire 6.1 million tonnes of sugar allowed for exports, industry officials told Reuters, cashing in on multi-year high prices in the world market and robust demand. The world’s second-biggest producer of the sweetener is, however, unlikely to allow additional exports in the current …
Indian sugar mills export entire quota of 6.1 million tonnes Read More »
By Nimesh Vora and Sethuraman N R MUMBAI (Reuters) – The Indian rupee on Wednesday was unmoved by the U.S. dollar’s Chinese yuan-fuelled strength, helped by the possible dollar inflows and an important support level. The rupee was at 82.64 against the U.S. dollar by 10:52 a.m. IST, compared to 82.71 on Tuesday. This is …
Rupee shrugs off dollar’s strength thanks to key support Read More »
BENGALURU (Reuters) – Contract manufacturer Dixon Technologies (India) Ltd on Wednesday said it is partnering with Xiaomi Corp’s Indian arm to make and export phones for the Chinese firm. The news, which boosted Dixon’s shares by 4%, comes after Xiaomi India revealed plans to start making wireless audio products in the country by partnering with …
Xiaomi partners with Dixon Technologies to make mobile phones in India Read More »
MUMBAI (Reuters) – The boards of Indian banks must pursue robust risk management strategies and emphasise compliance and effective governance while preparing for any potential risks, a deputy governor of the Reserve Bank of India said. “Effective risk management, governance, and compliance practices are essential in safeguarding the bank’s reputation, financial stability, and long-term viability,” …
India cbank deputy calls for better risk management, governance at banks Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares fell on Wednesday after hitting five-month highs for three sessions in a row, as caution set in ahead of the U.S. Congress’s approval of the debt deal and fresh concerns about China’s stuttering economic recovery weighed on the sentiment. The blue-chip Nifty 50 index was down 0.45% at …
Financials, metals drag Indian shares on weak global cues Read More »
By Jayshree P Upadhyay (Reuters) – India’s top financial regulators are asking entities from mutual funds to brokers to banks to tighten their supervision and have also added fresh regulations as they prepare for a review by the global money-laundering watchdog, according to three sources. The Financial Action Task Force, an inter-governmental organisation to combat …
By Sarita Chaganti Singh and Nikunj Ohri NEW DELHI (Reuters) -India is considering cutting its import tax on solar panels by half and is seeking a rollback in goods and services taxes on the devices to make up a shortfall in local output amid rising demand for renewable energy, three government sources said. India’s renewable …
Exclusive-India considers cutting solar panel import tax to make up domestic shortfall Read More »
By Deep Kaushik Vakil (Reuters) – Gold bounced back from early losses on Tuesday, as the dollar pulled back and Treasury yields slid on wider market optimism about the U.S. debt ceiling deal. Spot gold rose 0.8% to $1,958.80 per ounce by 2:30 p.m. EDT (1830 GMT), after hitting its lowest since March 17 earlier. …
Gold rebounds as debt deal optimism weighs on dollar, yields Read More »
MUMBAI (Reuters) – Adani Ports and Special Economic Zone Ltd, part of the Adani Group, said on Tuesday that losses stemming from the sale of Myanmar port project impacted its fourth-quarter profit. India’s largest private port operator reported a 5.1% rise in net profit at 11.59 billion rupees from a year ago, while its revenue …
Adani Ports fourth-quarter profit takes hit from Myanmar port sale Read More »
