MUMBAI (Reuters) – Future Retail’s (FRL) chief executive Sadashiv Nayak has resigned, the company said on Thursday, without citing any reasons, just over seven months after he took the helm at one of India’s largest retailers. Nayak has been with Future Group for around 18 years and had been appointed chief executive in late August. …
Future Retail CEO resigns amid legal battle, debt recovery Read More »
NEW DELHI (Reuters) -The Indian government will borrow nearly 60% of its total borrowing planned for 2022/23 in the first six months of the year starting April 1, as it looks to revive growth in the pandemic-hit economy through infrastructure spending. The government plans to borrow 8.45 trillion rupees in April-September, out of the record …
India govt to borrow 8.45 trillion rupees in April-September – statement Read More »
By Swati Bhat MUMBAI (Reuters) -India’s current account deficit widened in the three months to December, mainly on the back the higher trade deficit, the Reserve Bank of India said on Thursday. The country’s current account deficit (CAD) stood at $23 billion or 2.7% of GDP in the third quarter of fiscal year 2021/22, compared …
India’s Dec quarter current account gap widens to 2.7% of GDP Read More »
By Chris Thomas BENGALURU (Reuters) -Indian shares inched higher in choppy trade on Thursday and were set for their best month since August as oil prices fell, while Axis Bank rose after a deal to acquire Citigroup’s local consumer banking businesses. The NSE Nifty 50 index rose 0.16% to 17,525.45, as of 0454 GMT, while …
Indian shares set for best month since August as oil tumbles Read More »
By Nupur Anand MUMBAI (Reuters) -State Bank of India is considering offloading pools of non-performing retail loans worth less than 10 billion rupees ($132 million) to asset reconstruction companies, a strategy typically used for larger corporate loans. SBI, which is India’s largest lender by assets, had gross non-performing assets of 1,200 billion rupees at the …
India’s SBI exploring new ways to resolve retail loan stress Read More »
MEXICO CITY (Reuters) – Mexican Foreign Minister Marcelo Ebrard has begun talks to receive medical technology from Indian companies to produce vaccines and cancer drugs in Mexico on Wednesday, the ministry said. The minister and Mexican delegates held meetings in India with the country’s health, science and traditional medicine ministry ministries, along with representatives from …
Mexico in talks to receive Indian vaccine and cancer drug technology Read More »
LONDON (Reuters) – British foreign minister Liz Truss will visit India on Thursday as part of a “wider diplomatic push” on the war in Ukraine, her office said, a trip which coincides with her Russian counterpart Sergei Lavrov travelling to the country. India has frustrated Western allies by refusing to condemn Russia’s invasion of Ukraine …
UK’s Truss to visit India on same day as Russia’s Lavrov Read More »
WASHINGTON (Reuters) – President Joe Biden’s nominee for ambassador to India, Eric Garcetti, should receive a full and expeditious vote in the U.S. Senate, White House communications director Kate Bedingfield said on Wednesday. Biden has confidence in him and believes he will make an “excellent representative in India,” she said, responding to a question about …
White House wants India ambassador nominee to receive expeditious vote in the Senate Read More »
By Chris Thomas and Nupur Anand MUMBAI (Reuters) -Indian private lender Axis Bank has decided to bulk up its credit card and retail businesses with a $1.6-billion purchase of Citigroup Inc’s local consumer banking arm. The deal announced https://www.bseindia.com/xml-data/corpfiling/AttachLive/83190dcd-4ae6-45f4-b3fa-8d39d91a4aa6.pdf on Wednesday is Axis Bank’s largest by far and would expand its credit card customer base …
India’s Axis Bank accelerates retail push with $1.6-billion Citi deal Read More »
By Rittik Biswas and Roshan Abraham (Reuters) – Coronavirus infections in Asia passed 100 million on Wednesday, according to a Reuters tally, as the region records a resurgence in cases, dominated by the BA.2 Omicron sub-variant. The region is reporting over 1 million new COVID-19 cases about every two days, according to a Reuters analysis. …
COVID cases in Asia surpass 100 million – Reuters tally Read More »
