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By Hritam Mukherjee BENGALURU (Reuters) -Adani-backed Ambuja Cements bought out smaller rival Penna Cement Industries [PENC.NS] on Thursday for an enterprise value of 104.22 billion rupees ($1.25 billion), dialling up its presence in India’s southern region. The deal comes nearly a year after the conglomerate, through Ambuja, bought a majority stake in debt-ridden Sanghi Industries, …

Adani’s Ambuja buys rival in $1.25 billion deal to boost southern hold Read More »

BENGALURU (Reuters) – Vodafone Idea said on Thursday it will issue shares worth 24.58 billion rupees ($294.3 million) to two key network equipment vendors as part of the debt-laden telecom operator’s bid to clear its dues. India’s smallest telecom firm by subscribers will issue preferential shares worth 15.20 billion rupees to Nokia Solutions and 9.38 …

India’s Vodafone Idea to issue shares worth $294 million to Nokia, Ericsson to pay dues Read More »

By Amlan Chakraborty NEW DELHI (Reuters) – Like most athletes making their Olympic debut in Paris, Nikhat Zareen is a bundle of nerves at the moment. What sets her apart, however, is that the Indian boxer is not just at peace with the nervousness but even finds it necessary. For the 25-year-old, it is a …

Olympics-Boxing-Nervous is necessary for India’s Zareen Read More »

By Jose Devasia and Chris Thomas THIRUVANANTHAPURAM, India (Reuters) – From a father-of-two who planned to leave his job to a 29-year-old due to visit his family in August, two dozen Indians from the southern state of Kerala died in a fire that ripped through a labour-housing facility in Kuwait on Wednesday, leaving their families …

Kuwait fire leaves 24 families in India’s Kerala state bereft Read More »

DUBAI (Reuters) -At least 49 people were killed in Kuwait on Wednesday after a fire broke out in a building housing foreign workers, with Kuwait’s deputy prime minister accusing property owners of committing violations that contribute towards such incidents. The nationalities of those who died were not immediately disclosed by authorities. India’s ambassador visited hospitals …

Fire in Kuwait building kills 49 foreign workers Read More »

By David Brunnstrom and Kanishka Singh WASHINGTON (Reuters) – The United States wishes India well in its efforts to improve strained ties with China, the number-two U.S. diplomat said on Wednesday, while cautioning that Chinese leader Xi Jinping finds it very hard to show any flexibility on territorial issues. Indian Foreign Minister Subrahmanyam Jaishankar said …

US wishes India luck with ‘structural issues’ in strained China ties Read More »

(Reuters) -India’s retail inflation rate eased slightly in May, partly helped by fall in fuel prices although food prices remained elevated, government data showed on Wednesday. Annual retail inflation in May was 4.75%, down from 4.83% in April and lower than the 4.89% forecast by 50 economists polled by Reuters. COMMENTARY: V K VIJAYAKUMAR, CHIEF …

India’s May retail inflation eases slightly to 4.75% Read More »

By Ira Dugal MUMBAI (Reuters) – A majority of clients that follow the J.P. Morgan Emerging Market Bond Index are now registered to trade directly in Indian government bonds, which will be included in the index at the end of this month, an official at the Wall Street Bank said. “In the case of India, …

Most JP Morgan index clients set up to invest directly in Indian government bonds, says official Read More »

By Rajendra Jadhav MUMBAI (Reuters) – India’s monsoon rains have lost momentum after covering western regions ahead of schedule, and their arrival in northern and central states could be delayed, extending a heatwave in the grain-growing plains, two senior weather officials told Reuters. Summer rains, critical to spur economic growth in Asia’s third-largest economy, usually …

India’s fizzling monsoon could prolong heatwave in north, sources say Read More »

LONDON (Reuters) – A group of 50,000 self-employed women in India have become the first beneficiaries of a novel insurance scheme that pays out when temperatures hit certain extremes. As the temperature crossed 40 degrees Celsius (104 degrees Fahrenheit) between May 18 and May 25, the women in the states of Rajasthan, Gujarat and Maharashtra …

Extreme heat triggers novel payout for 50,000 women in India Read More »