MUMBAI (Reuters) – The Reserve Bank of India likely sold dollars via state-run banks on Friday after the rupee slid below 82 to a record low against the dollar on concerns over the U.S. Federal Reserve rate outlook, traders told Reuters. The rupee was last trading at 82.2675, down from 81.88 in the previous session, …
India’s RBI sells dollars as rupee hits record low on U.S. rate hike fears Read More »
BENGALURU (Reuters) – Indian shares are expected to open lower on Friday, tracking Asian peers, ahead of major U.S. jobs data that will provide clues on the Federal Reserve’s rate hike strategy, while investors kept an eye on surging crude prices. India’s NSE stock futures listed on the Singapore exchange were down 0.24%, as of …
Indian shares seen opening lower; U.S. jobs data in focus Read More »
By Arsh Tushar Mogre and Devayani Sathyan BENGALURU (Reuters) – India’s rupee will trade near its record low against the mighty greenback beyond this year, buffeted by rising oil prices and an aggressive U.S. Federal Reserve rate-hiking campaign, according to a Reuters poll of FX strategists. Steamrolled by the Fed-pumped dollar, the rupee has fallen …
No peace for India’s rupee as mighty dollar thunders on: Reuters Poll Read More »
By Krishna N. Das NEW DELHI (Reuters) -India said it is testing samples of cough syrups produced by local manufacturer Maiden Pharmaceuticals for export after the World Health Organization said its products were linked to the deaths of dozens of children in Gambia. The deaths of 66 children in the West African country could deal …
India tests samples of cough syrup linked to deaths of children in Gambia Read More »
By Nimitt Dixit and Namrata Arora BENGALURU (Reuters) – An Indian court on Thursday declined to lift a freeze on Xiaomi Corp’s $676 million worth of assets, even as the Chinese smartphone group said this enforcement action had “effectively halted” its operations in its key Indian market. India’s federal financial crime agency, the Enforcement Directorate, …
India court declines relief to Xiaomi over $676 million asset freeze Read More »
By Manoj Kumar NEW DELHI (Reuters) – The World Bank trimmed India’s growth forecast for this financial year by a full percentage point on Thursday and predicted a 9.5% contraction in crisis-hit Sri Lanka, as rising commodity prices and debt trouble hit economies in South Asia. Growth estimates for the region – comprising India, Pakistan, …
World Bank cuts India’s growth forecast to 6.5% as region takes a hit Read More »
LUCKNOW (Reuters) – Rescuers in northern India recovered 12 bodies of trainee mountaineers on Thursday, bringing the confirmed death toll to 16 from an avalanche in the Himalayas, the state-run Nehru Institute of Mountaineering said. Dozens of people participating in a training course run by the institute were caught up in the avalanche that swept …
Death toll in avalanche in Indian Himalayas rises to 16 – statement Read More »
BENGALURU (Reuters) -Consumer goods major Dabur India on Thursday warned that soaring inflation during the second quarter could lower its operating margin by around 150-200 basis points year-on-year, while revenue likely grew in mid-single digits. “During the quarter, inflation was at peak levels which impacted gross margins,” Dabur said in a regulatory filing. However, the …
Dabur India flags up to 200 bps margin hit in Q2 as inflation bites Read More »
By Anushka Trivedi and Dharamraj Lalit Dhutia MUMBAI (Reuters) – The Reserve Bank of India may have to hike the repo rate to as much as 6.75% as inflation remains a threat, lingering above the central bank’s target range for the remainder of the year, the head of fixed income at Edelweiss Asset Management said …
India’s Edelweiss AM says repo rate may hit 6.75% on inflation woes Read More »
NEW DELHI (Reuters) – Indian cough syrup manufacturer Maiden Pharmaceuticals is trying to find out from its buyer in Gambia details related to the deaths of children which the World Health Organization said may have been linked to its products, one of its directors said on Thursday. “We are trying to find out the situation …
India’s Maiden Pharma: trying to find out about cough syrup-linked deaths in Gambia Read More »
