MUMBAI (Reuters) – India sold its first sovereign green bonds worth a total of 80 billion rupees ($979.61 million) on Wednesday, at yields below comparable government bonds, the central bank said in a statement. The RBI auctioned 40 billion rupees of five-year bonds at a coupon rate of 7.10%, five basis points below the five-year …
India sells first green bonds at 5-6 basis points below sovereign yields Read More »
BENGALURU (Reuters) – India’s textile manufacturer Arvind Ltd reported a 9.3% drop in quarterly profit on Wednesday, hurt by weak demand for denim garments. The Ahmedabad-based firm posted a net profit of 841.2 million rupees ($10.30 million) for the three months ended Dec. 31, from 927.7 million rupees a year earlier. The company, which supplies …
India’s Arvind Q3 profit slumps on low sales of denim Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The dollar edged lower against the euro on Tuesday after data showed euro zone business activity made a surprise return to modest growth in January, while U.S. business activity shrank for a seventh straight month. While U.S. business activity shrank in January, the downturn moderated across both the …
Dollar slips as upbeat euro zone business activity data lifts euro Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Crude oil prices slipped on Tuesday on concerns about a global economic slowdown and an expected build in U.S. oil inventories. Brent futures for March delivery fell $2.06, or 2.3%, to $86.13 a barrel. U.S. crude fell $1.49, or 1.8%, to $80.13 per barrel. U.S. business activity contracted in January …
By Seher Dareen (Reuters) – Gold prices pulled back from a nine-month high on Tuesday due to a slight uptick in the dollar and U.S. bond yields, although hopes of slower interest rate hikes from the Federal Reserve underpinned the market. Spot gold rose 0.2% to $1,934.82 per ounce by 1:40 p.m. ET (1840 GMT), …
Gold eases off nine-month peak as U.S. dollar, yields gain Read More »
By Sriram Mani MUMBAI (Reuters) – Blackstone is in talks to sell around half of its stake in India’s largest real estate investment trust Embassy Office Parks to private equity firm Bain Capital, two sources said, in a deal worth up to $480 million at current prices. A deal would mark U.S.-based Bain’s first REIT …
By Sudarshan Varadhan and Sarita Chaganti Singh PANIPAT, India (Reuters) – A toxic smog engulfs India’s capital every winter, as particles from bonfires of crop stubble and vehicle exhausts hang in the air, but New Delhi is enforcing a ban on coal burning from this month that is forcing industry to shift to biomass. The …
Indian industry turns to biomass as capital bans coal in pollution fight Read More »
By Aditi Shah NEW DELHI (Reuters) -Vistara will not place new plane orders while it awaits regulatory approval to merge with Air India but that will not stop the airline from adding more international routes to boost profits, its chief executive said on Tuesday. The full-service carrier, a joint venture between Singapore Airlines and India’s …
Vistara to not order new planes ahead of Air India merger, eyes international growth Read More »
CAIRO (Reuters) – Egyptian President Abdel Fattah al-Sisi begins a visit to India on Wednesday where he will meet business leaders and be a guest of honour at India’s Jan. 26 Republic Day. The trip will include discussions on strengthening economic relations between the two countries and reviewing opportunities for Indian investment in Egypt, a …
Egypt’s Sisi heads to India amid investment push Read More »
BENGALURU (Reuters) – Pharmaceutical company Granules India Ltd reported a 23% rise in third-quarter profit on Tuesday, propelled by strong demand for the painkiller drug Paracetamol. Consolidated profit rose to 1.24 billion rupees ($15.22 million) for the three months ended Dec. 31, from 1.01 billion rupees a year earlier. Consolidated revenue for the company rose …
Paracetamol maker Granules India posts 23% rise in Q3 profit Read More »
