BENGALURU (Reuters) -Indian food delivery firm Zomato Ltd said on Wednesday most stores of its grocery unit Blinkit had resumed operations after being shut due to wage protests, sending its shares up as much as 5%. The disruptions had less than 1% impact on Zomato’s revenue, the Gurgaon-based company said in a regulatory filing. Blinkit, …
India’s Zomato says most Blinkit stores reopened after wage protests Read More »
By M. Sriram MUMBAI (Reuters) – A funding squeeze at Indian startups that has already led to layoffs and delayed stock listings is set to worsen as investors reckon with stretched valuations and faltering consumption growth, likely laying the ground for industry consolidation. Startups in India raised just $2 billion in the first quarter of …
Analysis-Once booming Indian startups set for more pain as funding crunch worsens Read More »
By Carolina Mandl and Jayshree P Upadhyay NEW YORK/MUMBAI (Reuters) -U.S. hedge fund heavyweight D. E. Shaw is opening two offices in India, the company said on Tuesday, joining rivals Millennium and AQR Capital Management, which are also expanding in the country. D.E. Shaw, which manages more than $60 billion, is opening offices in the …
D. E. Shaw expands in India as other US hedge funds ramp up hiring Read More »
By Deep Kaushik Vakil (Reuters) – Gold prices clawed their way back above the key $2,000 level on Tuesday as the dollar and bond yields retreated, with investors weighing whether the U.S. Federal Reserve will pause its interest rate hike cycle after the May meeting. Spot gold was up 0.5% at $2,005.41 per ounce by …
Gold rebounds above $2,000 as dollar, yields retreat Read More »
NEW DELHI (Reuters) – India and Russia on Tuesday agreed to address trade deficit and market access issues, the Indian foreign ministry said, as New Delhi seeks to narrow trade imbalance after a more than four-fold rise in imports from Russia since the war in Ukraine. The two nations are discussing a free trade agreement, …
India, Russia to address trade deficit and market access issues Read More »
(Reuters) – India’s income tax department on Tuesday denied that there was a proposal to increase capital gains tax for top earners after Bloomberg News reported the country was reworking its direct tax laws. The report said increase in capital gains tax was at the heart of the rework that was aimed at helping reduce …
India says no plan to increase capital gains tax for rich Read More »
BENGALURU (Reuters) – India’s ICICI Lombard General Insurance posted a 40% jump in its fourth-quarter profit after tax, driven by higher income from premiums. The Mumbai-based insurer’s March-quarter profit after tax rose to 4.37 billion rupees ($53.29 million), from 3.13 billion rupees posted a year ago. The insurer’s combined ratio, a key profitability metric for …
India’s ICICI Lombard quarterly profit rises 40% as premiums climb Read More »
By Krishn Kaushik and Joseph Campbell NEW DELHI/JAUNPUR, India (Reuters) -As he crosses the mud houses and wheat fields around his village to catch a train to distant Mumbai, Sujeet Kumar says he is thinking about the better life that awaits him in India’s city of dreams. The 21-year-old from Jaunpur district, in India’s most …
India’s migrant millions: Caught between jobless villages and city hazards Read More »
By Aditya Kalra NEW DELHI (Reuters) -India’s capital New Delhi has rejected Pernod Ricard’s application to renew its liquor sale licence, citing ongoing investigations into the company – the latest blow to the French spirits giant in a critical growth market. Pernod in a statement to Reuters said it will challenge the decision and “is …
Exclusive-New Delhi city refuses to renew Pernod’s liquor sale licence, cites probes Read More »
By M. Sriram and Tanvi Mehta MUMBAI (Reuters) -About 300 people queued at Apple’s store in Mumbai on Tuesday, as fans took selfies with Chief Executive Tim Cook, who inaugurated the first retail store run by the tech giant in India, underscoring the importance of its market. “The energy, creativity, and passion in Mumbai is …
Apple opens first India store as fans show off vintage devices, take selfies Read More »
