Reuters India

Disney’s Hotstar India streaming service plans to limit account sharing -sources

By Aditya Kalra NEW DELHI (Reuters) – Walt Disney’s India streaming service plans to start enforcing a policy of allowing its premium users to login from only four devices, an effort aimed at limiting password sharing in a key market, two sources with direct knowledge said. Disney’s plan comes just as streaming rival Netflix in …

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India asking for renegotiation of FTAs with Japan, S.Korea -trade minister

NEW DELHI (Reuters) – India has asked Japan and South Korea to renegotiate their free-trade agreements (FTAs) with the South Asian nation to make it “more balanced and equitable”, India’s trade minister said on Thursday, amid a widening trade gap with the countries. “Japan and Korea – we opened our markets for them. They have …

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India’s parliamentary panel says tax dept should conduct evasion searches with caution

NEW DELHI (Reuters) – India’s tax department should handle search and seizure operations with “adequate caution” after carrying out due diligence to avoid harassment of honest taxpayers, a parliamentary committee on finance said in a report released on Thursday. The panel of lawmakers said due diligence should be fully carried out before taking enforcement action …

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Tirupati eyes 8% of global graphite market after Mozambique acquisitions

By Nelson Banya (Reuters) – Tirupati Graphite plans to start producing 50,000 metric tons of graphite next year in Mozambique, targeting 8% of global output by 2030, its executive chairman has said. A critical material in the production of batteries used to store energy and power electric vehicles, graphite is mostly mined in China, Mozambique, …

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Foreign lenders in talks to finance part of Adani Group’s Ambuja debt – Bloomberg News

BENGALURU (Reuters) -Barclays, Deutsche Bank AG and Standard Chartered are in talks to collectively lend between $600 million and $750 million to India’s Adani Group, Bloomberg News reported on Thursday, citing people familiar with the matter. The loan is a part of discussions to refinance the debt that the group had taken to fund its …

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G20 should lead way on energy transition plans at COP28 – event president

By Yousef Saba DUBAI (Reuters) -G20 powers must send stronger signals of their will to transform world energy systems and should lead the way on plans for mitigating global warming at the COP28 summit, the event’s incoming president and the U.N. climate chief said on Thursday. Representatives of the world’s leading 20 economies meeting in …

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Indian cement maker ACC’s Q1 profit doubles on higher volumes, margins

BENGALURU (Reuters) – Indian cement maker ACC’s first-quarter profit more than doubled, it said on Thursday, as strong demand boost its sales volumes and drove margins higher. ACC, owned by ports-to-energy conglomerate Adani Group, said profit rose to 4.67 billion rupees ($57 million) in April-June, from 2.22 billion rupees a year ago when high fuel …

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Indian blue-chip shares reverse to end lower as financials, autos weigh

By Bharath Rajeswaran BENGALURU (Reuters) -Indian blue-chip shares reversed earlier gains to finish lower on Thursday, dragged by financials and autos, in contrast to the rally in its Asian peers on hopes that the Federal Reserve would stop raising interest rates. The Nifty 50 index closed 0.60% down at 19,659.90, while the S&P BSE Sensex …

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McDonald’s India franchisee Westlife’s profit misses as costs mount

By Navamya Ganesh Acharya and Praveen Paramasivam BENGALURU/CHENNAI (Reuters) -Westlife Foodworld reported a smaller-than-expected rise in first-quarter profit on Thursday as higher expenses eclipsed increased sales at the operator of McDonald’s restaurants in west and south India. The franchisee said consolidated net profit after tax rose 22% to 288.3 million rupees ($3.52 million) for the …

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