By Brijesh Patel (Reuters) – Gold prices rose on Friday after a slightly weaker-than-expected U.S. jobs report pushed the dollar and Treasury yields lower, offering some respite to bullion which was still on track for its worst week in six. Nonfarm payrolls increased by 187,000 jobs last month, the Labor Department said in its closely …
Gold gains as dollar, yields tick lower after jobs data Read More »
By Sarita Chaganti Singh and Shivangi Acharya NEW DELHI (Reuters) -India will provide a transition period of about three months before a new licensing regime for imports of laptops, tablets and personal computers comes into effect, the country’s trade regulator said late on Friday. This is a partial reversal from a surprise decision on Thursday …
India delays import restriction on laptops, tablets by 3 months Read More »
By Mayank Bhardwaj and Rajendra Jadhav NEW DELHI (Reuters) -India is considering cutting or even abolishing a 40% import tax on wheat and lowering a limit on the amount of wheat stocks millers and traders can hold, a government official said on Friday, as part of efforts to boost supplies. “We have options like lowering …
India might cut or abolish wheat import tax to boost supply, check prices Read More »
(Reuters) -India’s Income Tax (IT) department initiated searches at real estate development firm Kalpataru Projects International’s premises and residences of some of its directors and executives, the company said on Friday. Shares of Kalpataru Projects, which is a part of Kalpataru Group, fell as much as 9% after CNBC-TV18 first reported that the IT department …
Indian IT dept searches Kalpataru Group premises, residences of officials Read More »
BENGALURU (Reuters) -India’s Reliance Industries on Friday said it would hold its much-anticipated annual general meeting of shareholders on Aug. 28, where it is expected to give details on the listing of the recently spun-out Jio Financial Services (JFS). Last month, Reliance demerged JFS, which was valued at around $20 billion after its stock price …
India’s Reliance Industries to hold AGM on Aug. 28 Read More »
MUMBAI (Reuters) – India’s insurance regulator has allowed insurance companies to classify debt securities of HDFC Ltd under the ‘housing and infrastructure’ category, it said in a notification on Friday. HDFC Ltd was merged with HDFC Bank on July 1, following which debt securities of the housing financier had been transferred to the bank. Insurance …
India insurance regulator allows exemptions for holdings in merged HDFC Bank Read More »
BENGALURU (Reuters) -India’s Britannia Industries reported a near-36% jump in quarterly earnings on Friday as the Marie Gold biscuits maker stocked up its products in mom-and-pop stores across rural markets. Britannia, which also sells cakes and breads, posted a consolidated profit of 4.58 billion rupees ($55.4 million) in the first quarter ended June 30, compared …
Biscuit maker Britannia’s profit climbs 36% on packaged foods demand Read More »
BENGALURU (Reuters) – Indian logistics firm Delhivery on Friday reported a narrower quarterly loss helped by a rebound in demand for online shopping and lower operational costs. Consolidated net loss for the first quarter ended June 30 shrank to 894.8 million rupees ($10.82 million) from 3.99 billion rupees a year ago. A slight cooling in …
India’s Delhivery says Q1 loss narrowed as demand rose, expenses fell Read More »
BENGALURU (Reuters) – Indian pipe manufacturer Welspun Corporation reported a jump in first-quarter profit on Friday, aided by a strong demand for its line and stainless steel pipes. The company’s consolidated net profit rose to 1.65 billion rupees ($19.93 million) from 41.1 million rupees a year earlier. The company said it maintained a healthy order …
India’s Welspun Corp Q1 profit rises on higher demand for line pipes Read More »
By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) – Air India Chief Executive Campbell Wilson has held talks with India’s antitrust head on its pending merger with sister airline Vistara, weeks after the watchdog raised concerns about market power, people familiar with the matter said. The Competition Commission of India has been scrutinising the …
Air India CEO meets India antitrust chief on pending Vistara merger -sources Read More »
