By Medha Singh and Lisa Pauline Mattackal (Reuters) – Investors are finally set to gain access to more than $33 billion of ether this week under a planned revamp of the blockchain. A new software upgrade to the Ethereum blockchain, dubbed Shapella, will let market players redeem their “staked ether” – coins they have deposited …
Cryptoverse: Ethereum upgrade to unlock $33 billion Read More »
By Aditya Kalra NEW DELHI (Reuters) – A group of Indian startups has asked a court to suspend Alphabet Inc Google’s new in-app billing fee system until the country’s antitrust body investigates the U.S. firm for alleged non-compliance with its directives, a legal filing showed. The Alliance of Digital India Foundation (ADIF) last month asked …
Indian startups go to court to stop Google’s new in-app billing system Read More »
By Manoj Kumar NEW DELHI Reuters) – Japan has proposed developing an industrial hub in Bangladesh with supply chains to the landlocked northeastern states of India, and to Nepal and Bhutan beyond by developing a port and transport in the region, officials said on Tuesday. It comes after Japanese Prime Minister Fumio Kishida’s visit to …
Japan proposes industrial hub in Bangladesh with supply chains to India Read More »
NEW DELHI (Reuters) – The International Monetary Fund (IMF) said on Tuesday that it expects India’s economy to grow 5.9% in the current fiscal year though it warned that turmoil in the financial system will hurt global growth. In its World Economic Outlook, the IMF forecast global real GDP growth at 2.8% for 2023 and …
IMF trims India’s growth forecast to 5.9% for current fiscal year Read More »
MUMBAI (Reuters) – The Reserve Bank of India is putting in place a framework for the acceptance of green deposits to foster and develop an environment-friendly finance ecosystem in the country, which will come into effect from June 1, the central bank said in a statement on Tuesday. The financial sector can play a pivotal …
India cenbank puts in place framework for acceptance of green deposits Read More »
By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee declined past the key psychological mark of 82 per dollar on Tuesday on likely corporate outflows and importer demand for the greenback, traders said. The rupee finished at 82.1250 to the dollar, having declined up to 82.15 during the session. It closed at 81.98 in on …
Rupee falls past 82/USD despite dollar weakness; outflows likely Read More »
By Ira Dugal MUMBAI (Reuters) – The federal government’s decision to review the pension scheme for its employees must not come at the cost of prudent fiscal management, economists told Reuters on Tuesday. They feared that a higher share of government revenues going towards salaries and pensions will compromise development expenditure. The centre’s decision to …
By Munsif Vengattil and Aditya Kalra NEW DELHI (Reuters) – Three public policy executives of the India team of Samsung Electronics have resigned, sources told Reuters on Tuesday, in simultaneous departures as the country’s biggest smartphone player faces several regulatory headaches. Public policy teams have increasingly critical roles in companies efforts to balance regulatory issues …
Three quit Samsung India’s public policy team in a week -sources Read More »
BENGALURU (Reuters) – India’s Glenmark Pharmaceuticals Ltd is considering selling a majority of the 82% stake it holds in Glenmark Life Sciences Ltd as it looks to lower its debt load, the Mint business daily reported on Tuesday. Glenmark Pharma has hired Kotak Mahindra Capital Co Ltd to oversee the sale of its stake in …
India’s Glenmark Pharma weighs selling stake in Glenmark Life – Mint Read More »
By Nimesh Vora and Aftab Ahmed MUMBAI (Reuters) – Corporates who trade in forex markets and proprietary desks of banks are wagering that the Indian rupee will appreciate further against the U.S. dollar, helped by a narrowing current account deficit and better “carry” returns, several bankers and analysts told Reuters. The rupee reached 81.78 to …
Companies, banks bet Indian rupee’s recovery has more legs – analysts Read More »
