MUMBAI(Reuters) – HDFC Bank Ltd, India’s largest private lender, on Saturday reported a 19.8% jump in net profit for the January-March quarter, aided by healthy net interest income and robust loan growth. Standalone net profit for the three months ended March 31 was at 120.48 billion Indian rupees($1.47 billion), up from 100.55 billion rupees in …
India HDFC Bank’s net profit jumps 19.8% in January-March Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices pulled back sharply on Friday after surging to a more than one-year peak in the last session, as the dollar bounced and a Federal Reserve official flagged the need for another interest rate hike. Spot gold was down 1.8% at $2,003.60 per ounce by 01:52 EDT (17:51 GMT). …
Gold beats sharp retreat as dollar bounces, rate hike bets grow Read More »
NEW DELHI (Reuters) – A proposed Indian government unit to fact-check news on social media is not about censoring journalism nor will it have any impact on media reportage, a federal minister said on Friday. Recently amended IT regulation requires online platforms like Meta Platforms Inc’s Facebook and Twitter to “make reasonable efforts” to not …
India says new IT fact-checking unit will not censor journalism Read More »
By Arpan Chaturvedi and Tanvi Mehta NEW DELHI (Reuters) – Around 50 stores of Indian food delivery company Zomato’s grocery unit Blinkit are shut as bike riders have stopped work in the latest protest to hit India’s gig economy as employees push demands for better wages. Zomato in an email said it had introduced a …
Wage protests halt high-speed grocery deliveries at India’s Zomato Read More »
BENGALURU (Reuters) -Reliance Industries Ltd’s Viacom18 will receive an investment of 43.06 billion rupees ($527.84 million) from Bodhi Tree, about 70% less than what was planned by the joint venture between James Murdoch and a former Star India executive. Viacom18 said in a statement late on Thursday that Reliance was now leading the investment in …
James Murdoch’s Bodhi Tree slashes planned investment in Reliance’s Viacom18 Read More »
BENGALURU (Reuters) – Indian state-owned oil marketing company Bharat Petroleum Corporation Ltd on Friday said it had received approval from the Madhya Pradesh state government for expanding its Bina refinery and setting up a petrochemical project. Bharat Petroleum will invest 430 billion rupees ($5.27 billion) to 500 billion rupees for the two projects, adding that …
India’s Bharat Petroleum gets Madhya Pradesh state govt approval for refinery expansion Read More »
(Reuters) – Indian automaker Tata Motors said on Friday it will raise prices of its passenger vehicles due to an increase in input costs and regulatory changes that make it costlier to produce cars, the second time this year it will make such a move. “The weighted average increase will be 0.6%, depending on the …
India’s Tata Motors to raise passenger vehicle prices for second time in 2023 Read More »
By Leika Kihara and Jorgelina do Rosario WASHINGTON (Reuters) -Japan, India and France on Thursday announced a common platform for talks among bilateral creditors to coordinate restructuring of Sri Lanka’s debt, a move they hope would serve as a model for solving the debt woes of middle-income economies. It remains uncertain, however, whether Sri Lanka’s …
Japan, India and France announce common platform for Sri Lanka creditors Read More »
WASHINGTON (Reuters) – Indian Finance Minister Nirmala Sitharaman said on Thursday there was a greater acceptance among Group of 20 member countries that any new regulations on the crypto assets need to be globally coordinated, and said crypto assets not backed by central banks can fall and cause macroeconomic instability. “The G20 and its members …
India says G20 members see need for global crypto regulations Read More »
By Deep Kaushik Vakil (Reuters) – Gold surged on Thursday as more weak U.S. economic readings bolstered bets for a pause in interest rate hikes, with prospects of a mild recession also sending investors scurrying for the safe-haven. Spot gold was up 1.4% at $2,042.50 per ounce by 1:40 p.m. EDT (17:40 GMT), its highest …
Gold rallies to 1-year peak as economic worries mount Read More »
