By Bharath Rajeswaran BENGALURU (Reuters) – Indian shares edged up on Monday, snapping two days of losses, as global authorities took steps to contain the banking turmoil, helping dispel some of the contagion fears. The Nifty 50 index closed 0.24% higher at 16,985.70, and the S&P BSE Sensex rose 0.22% to 57,653.86. The broader Asian …
Indian shares edge up as fears of global banking contagion ebb Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee rose against the U.S. currency on Monday, helped by likely dollar inflows and healthier risk, traders said. The rupee last traded at 82.37 to the dollar, up from 82.48 in the previous session. The local currency held an 82.2775 to 82.4250 range. Meanwhile, other Asian currencies …
Rupee does better than peers, importers advised to hedge Read More »
By Dharamraj Dhutia and Bhakti Tambe MUMBAI (Reuters) – India’s decision to take away long term tax benefits for debt mutual funds is likely to weaken demand for longer duration corporate bonds, eventually leading to higher costs of raising funds, mutual fund investors said on Monday. The country amended a bill last week to tax …
Debt fund taxation changes to impact corporate bond demand – fund managers Read More »
By Arpan Chaturvedi and Siddhi Nayak NEW DELHI (Reuters) – Indian banks must give defaulters an opportunity to be heard before they classify a loan account as fraud, the Supreme Court ruled on Monday. Banks cannot unilaterally declare an account as fraud without providing the defaulter the right to be heard, a top court bench …
Indian banks must hear loan defaulters before declaring accounts as fraud – top court Read More »
By Siddhi Nayak MUMBAI (Reuters) – India has asked state-run lenders to adopt stricter monitoring of top corporate loan accounts and submit a plan to deal with business risks in key areas within two weeks, three banking sources said on Monday. Indian banks, in the past, have had to take deep haircuts on their exposure …
India asks state-run banks to monitor top loan accounts – sources Read More »
(Reuters) – The International Cricket Council (ICC) said on Monday the rating of the pitch used for the third test between India and Australia in Indore has been changed to “below average” from “poor” following an appeal by the Indian board. Australia won the low-scoring encounter by nine wickets inside three days, with match referee …
Cricket-Indore pitch rating changed to ‘below average’ from ‘poor’ Read More »
By M. Sriram MUMBAI (Reuters) – Indian skincare startup Mamaearth has put its initial public offering (IPO) on hold because of weak market conditions, two people with direct knowledge of the matter said, a month after two other Indian companies also scrapped their share sales. Mamaearth parent Honasa Consumer Ltd filed its documents for an …
Indian skincare firm Mamaearth’s parent puts IPO on hold – sources Read More »
BEIJING (Reuters) – Chinese search engine giant Baidu on Monday cancelled a planned livestreamed product launch open to media and public related to its ChatGPT-like Ernie bot. The launch was meant to take place on Monday afternoon but has instead been changed to a closed-door meeting with the first batch of companies that are testing …
China’s Baidu cancels ChatGPT-like Ernie bot’s livestreamed product launch Read More »
BEIJING (Reuters) – Profits at industrial firms in China declined 22.9% in the first two months of 2023 from the year before, official data showed on Monday, as the factory sector struggles to claw its way out of the slump caused by COVID-related disruptions. The contraction followed a 4.0% fall in industrial profits for the …
China’s industrial profits slump in Jan-Feb as COVID pain lingers Read More »
By Leika Kihara TOKYO (Reuters) -Japan’s business-to-business services inflation picked up in February on a tourism rebound and rising labour costs, data showed, offering the central bank hope that steady wage hikes would aid in sustainably hitting its 2% inflation target. With inflation already exceeding the 2% target due largely to rising raw material costs, …
Japan’s business services prices perk up near BOJ’s inflation target Read More »
