By Ira Dugal and Aftab Ahmed MUMBAI (Reuters) -India will start withdrawing its highest value currency notes from circulation, the central bank said on Friday, in a move that economists said could boost bank deposits at a time of high credit growth. The withdrawal of 2,000-rupee ($24.5) notes – which the finance ministry’s top official, …
India to withdraw 2,000-rupee notes from circulation Read More »
BENGALURU (Reuters) – Rajasthan Royals’ in-form opener Yashasvi Jaiswal is ready to make his international debut for India after a stellar season in the ongoing Indian Premier League (IPL), batting great Sunil Gavaskar said. Jaiswal made a 36-ball 50 on Friday to guide Rajasthan to a four-wicket win over Punjab Kings. He climbed to second …
Cricket-Gavaskar says Rajasthan’s Jaiswal ready for India call-up Read More »
HIROSHIMA, Japan (Reuters) – U.S. President Joe Biden aims to speak this weekend with Brazil’s President Luiz Inacio Lula da Silva and Indian Prime Minister Narendra Modi about Ukraine and the “sacrosanct” issue of sovereignty and territorial integrity, U.S. national security adviser Jake Sullivan said on Saturday. Lula and Modi are attending a summit of …
White House: Biden to discuss Ukraine with Brazil’s Lula, India’s Modi Read More »
By Eric Onstad LONDON (Reuters) -A London judge agreed on Friday to extend a freezing order on assets of the wife of Indian businessman Prateek Gupta in addition to a $625 million global order already in effect on her husband and his firms. Commodity trading firm Trafigura, which sought the order, said in February it …
Court to extend freezing order on Gupta’s wife’s assets in Trafigura fraud case Read More »
NEW DELHI (Reuters) – India will not impose a 20% tax on spending of up to 700,000 rupees ($8,559.55) through international debit and credit cards in a financial year, it said in a statement on Friday, partly reversing the rules within days after a public backlash. The finance ministry earlier this week had announced a …
India exempts overseas card spends up to 700,000 rupees from 20% tax Read More »
BENGALURU (Reuters) – Indian power generator NTPC Ltd reported an about 6% drop in fourth-quarter profit on Friday, as surging expenses offset higher power demand. The state-run company’s consolidated net profit for the quarter ended March 31 stood at 48.61 billion rupees ($594.40 million), compared with 51.67 billion rupees a year earlier. NTPC also declared …
India’s NTPC Q4 profit falls as expenses outweigh power demand Read More »
By Gloria Dickie and Simon Jessop LONDON (Reuters) – The damage wrought by climate change has spurred countries and communities across the developing world to look at using so-called ‘parametric’ insurance to help cushion the financial blow. Guaranteeing a set payout once a specific event occurs, the cover is seen as a way to build …
Factbox-Parametric insurance policies help cushion climate impacts Read More »
BENGALURU (Reuters) – India’s Glenmark Pharmaceuticals Ltd reported a 12.3% decline in fourth-quarter profit on Friday, hurt by higher input costs and lower demand in its domestic drugs business. Consolidated profit before exceptional items and tax fell to 3.09 billion rupees ($37.78 million) for the three months ended March 31, from 3.52 billion rupees a …
India’s Glenmark Pharma reports lower Q4 profit as domestic sales weaken Read More »
BENGALURU (Reuters) – India’s Dalmia Bharat Sugar and Industries Ltd on Friday said its fourth-quarter profit nearly doubled, aided by higher sales in their sugar and distillery segments. The sugar manufacturer’s net profit from continuing operations rose to 1.25 billion Indian rupees ($15.28 million) in the quarter ended March 31 from 627.2 million rupees. Revenue …
India’s Dalmia Bharat Sugar doubles Q4 profit on higher sales Read More »
By Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) – India’s government plans to take action against Alphabet Inc’s Google after an antitrust watchdog last year found the group to have abused its market position by indulging in anti-competitive practices, a top IT minister told Reuters. India’s antitrust body in October fined Google $275 million …
Exclusive-India’s govt plans action against Google after antitrust breaches Read More »
