Reuters India Business Archives - Page 950 of 1191

Indian retailer Fabindia scraps $482 million IPO amid uncertain market conditions

27 Feb 2023 27 Feb 2023

By Aleef Jahan C S BENGALURU (Reuters) -Indian apparel retailer Fabindia said on Monday it has withdrawn its plan for a $482 million initial public offering amid rough market conditions, becoming the latest company to scrap listing plans as interest rate worries pressure stock markets. The 62-year-old company, popular for its sustainable and traditional Indian …

Indian retailer Fabindia scraps $482 million IPO amid uncertain market conditions Read More »

India’s SpiceJet restructures dues to Carlyle Aviation, to raise fresh capital

27 Feb 2023 27 Feb 2023

BENGALURU (Reuters) -India’s SpiceJet Ltd said on Monday it will convert around $100 million in dues to an aircraft lessor into equity and debentures and raise fresh capital of $300 million, sending the shares up as much as 6%. The low-cost carrier will convert its dues to Carlyle Aviation Partners into new shares worth $29.5 …

India’s SpiceJet restructures dues to Carlyle Aviation, to raise fresh capital Read More »

Air India to fund $70 billion plane order with cash, equity amid overseas push

27 Feb 2023 27 Feb 2023

By Aditi Shah and Tanvi Mehta NEW DELHI (Reuters) -Air India said on Monday it plans to fund its $70 billion order for a record 470 aircraft with internal cash, equity and through sale-and-leasebacks, as the airline seeks to rapidly expand its presence in international markets. Tata Group-owned Air India said on Feb. 14 it …

Air India to fund $70 billion plane order with cash, equity amid overseas push Read More »

India’s Bajaj Auto falls after report on planned production cuts

27 Feb 2023 27 Feb 2023

BENGALURU (Reuters) -Shares of India’s Bajaj Auto sunk as much as 5.05% on Monday after a media report said the two-wheeler maker is expected to take a cut of up to 25% in motorcycle and three-wheeler production across its export-focused plants next month. The stock fell to 3,655.35 rupees, its lowest since Jan. 24. Bajaj …

India’s Bajaj Auto falls after report on planned production cuts Read More »

U.S. nominee for top World Bank job gets positive reviews at G20 meeting

24 Feb 2023 24 Feb 2023

By David Lawder and Christian Kraemer BENGALURU (Reuters) – The U.S. nominee to lead the World Bank, ex-Mastercard Chief Executive Ajay Banga, gained traction with leading members on Friday, a sign that he will likely have a smooth ride to confirmation by the global lender’s executive board. The finance ministers of France and Germany gave …

U.S. nominee for top World Bank job gets positive reviews at G20 meeting Read More »

Oil flat on week as U.S. inventories rise but Russia cuts supply

24 Feb 2023 24 Feb 2023

By Laila Kearney NEW YORK (Reuters) -Oil edged higher in volatile trade on Friday, and was flat on the week, with prices supported by the prospect of lower Russian exports but pressured by rising inventories in the United States and concerns over global economic activity. Brent crude futures settled at $83.16 a barrel, up 95 …

Oil flat on week as U.S. inventories rise but Russia cuts supply Read More »

Gold slips as further rate-hike bets boost U.S. dollar, yields

24 Feb 2023 24 Feb 2023

By Seher Dareen (Reuters) – Gold prices dropped to their lowest in eight weeks on Friday, pushed down by a stronger dollar and bond yields as the market braced for more interest rate hikes by the U.S. Federal Reserve in the coming months. U.S. inflation accelerated while consumer spending rebounded sharply by 1.8% in January, …

Gold slips as further rate-hike bets boost U.S. dollar, yields Read More »

U.S. retailer Foot Locker in talks with Metro Brands for India entry – report

24 Feb 2023 24 Feb 2023

BENGALURU (Reuters) – U.S. footwear and sportswear retailer Foot Locker Inc is in talks with Metro Brands Ltd to enter the Indian market, ET Now reported on Friday. Foot Locker, which retails popular footwear brands including Adidas and Nike Inc, is in discussions with four Indian players to appoint a franchise, ET Now tweeted. The …

U.S. retailer Foot Locker in talks with Metro Brands for India entry – report Read More »

Indian agency attaches Joyalukkas chairman’s assets worth $37 million

24 Feb 2023 24 Feb 2023

BENGALURU (Reuters) – India’s financial crime agency said on Friday it conducted searches and attached assets worth 3.06 billion rupees ($36.98 million) belonging to the chairman of jeweller Joyalukkas in a case related to alleged violation of foreign exchange laws. The Enforcement Directorate alleged a huge amount of cash was transferred to Dubai from India …

Indian agency attaches Joyalukkas chairman’s assets worth $37 million Read More »

Indian PM Modi urges G20 to focus on unsustainable debt

24 Feb 2023 24 Feb 2023

MUMBAI (Reuters) -The financial viability of many countries is being threatened by unsustainable debt, India’s Prime Minister Narendra Modi said on Friday, as he called for the Group of 20 (G20) to focus on the world’s most vulnerable citizens. Trust in international financial institutions has eroded, partly because the lenders had been slow to reform …

Indian PM Modi urges G20 to focus on unsustainable debt Read More »