(Reuters) -Japan’s Sony is planning to scrap the merger of its Indian unit with Zee Entertainment, more than two years after the deal was announced, over a disagreement on who will lead the $10 billion entity, Bloomberg News reported on Monday. Sony plans to file a termination notice before the extended Jan. 20 deadline to …
Sony plans to call off $10 billion merger With India’s Zee – Bloomberg News Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -India’s two benchmark indexes declined on Monday, dragged by financials and consumer stocks on concerns over their earnings and tracking a fall in global markets ahead of key economic data. The blue-chip NSE Nifty 50 index fell 0.91% to 21,513, while the S&P BSE Sensex shed 0.93% to 71,355.22. Financials, …
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee ended little changed on Monday as dollar demand from importers, including local oil companies, eroded early gains from inflows. The rupee ended at 83.1375 against the U.S. dollar, barely changed from its previous close at 83.15. While the local unit had risen to a three-week high …
Rupee ends little changed, wedged between inflows, oil cos’ dollar buys Read More »
By Nivedita Bhattacharjee BENGALURU (Reuters) – The Indian Space Research Organisation’s inaugural solar mission, Aditya-L1, has reached its destination within the anticipated four-month timeframe, Prime Minister Narendra Modi said on Saturday. Launched on Sept. 2, the spacecraft positioned itself at Lagrange Point 1, from where it will undertake a comprehensive study of the sun, focusing …
India ISRO’s Aditya-L1 solar mission reaches destination Read More »
(Reuters) – The all-electric Formula E world championship said on Friday it had cancelled a race in the Indian city of Hyderabad due to breach of contract by local authorities. The series said in a statement the Municipal Administration and Urban Development Department (MAUD), controlled by the government of Telangana state, had decided “not to …
By Jayshree P Upadhyay MUMBAI (Reuters) – India’s Gujarat International Finance Tec-City, or GIFT City, has given approval to billionaire Azim Premji’s wealth fund to set up a family investment fund in the financial hub, two sources with direct knowledge of the matter said. Prime Minister Narendra Modi has been looking to revive this decade-old …
India’s new finance hub gives nod to Azim Premji’s fund to invest overseas Read More »
By Shivangi Acharya NEW DELHI (Reuters) – India’s defence ministry is providing protective escorts to Indian container ships in the high seas around the Red Sea as the security situation there continues to simmer, a government source said on Friday. Containers could face delays of 14 days in their turnaround time due to taking a …
India providing security escort for container ships around Red Sea-govt source Read More »
MUMBAI (Reuters) – India’s foreign exchange reserves rose for a seventh straight week and stood at a near 22-month high of $623.20 billion as of Dec. 29, data from the central bank showed on Friday. The reserves rose by $2.76 billion for the reported week after increasing by a total of $30.12 billion in the …
India’s forex reserves rise for seventh week, hit near 22-month high Read More »
BENGALURU (Reuters) – Indian digital payments firm MobiKwik, backed by Abu Dhabi Investment Authority and Bajaj Finance, has filed for an initial public offering (IPO) worth up to 7 billion rupees ($84 million), about 63% less than its first attempt in 2021. The company, founded over a decade ago, had filed for a 19 billion …
Indian payments firm MobiKwik files for smaller $84 million IPO Read More »
By Nikunj Ohri NEW DELHI (Reuters) – India could set a target for divestment from state firms in fiscal 2024/25 that falls short of this year’s goal to stand at the lowest in nine years, as the government turns its focus to general elections due next year, a senior official said. The government official, who …
India’s divestment target in 2024/25 could be its lowest in nine years -source Read More »
