Reuters India - Squid Business

The world’s cheapest Domino’s pizza is in inflation-hit India. It costs $0.60

By Praveen Paramasivam and Aditya Kalra CHENNAI/NEW DELHI (Reuters) – Q: How does the world’s biggest pizza brand respond to high inflation in the world’s most populous nation? A: With the world’s cheapest Domino’s pizza. The 49-rupee ($0.60) pizza in India, Domino’s No.1 market outside America, is the tip of the spear in its fight …

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Indian landslide kills 16, rescue operations paused

By Francis Mascarenhas and Shilpa Jamkhandikar IRSHALWADI, India (Reuters) -The death toll from a massive landslide in western India rose to 16 late on Thursday, as rescue operations were suspended with around 100 people still feared trapped, officials said. Land gave way in the middle of the night in the remote mountain hamlet of Irshalwadi, …

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India imposes major rice export ban, triggering inflation fears

By Rajendra Jadhav, Mayank Bhardwaj, Shivam Patel NEW DELHI (Reuters) -India on Thursday ordered a halt to its largest rice export category in a move that will roughly halve shipments by the world’s largest exporter of the grain, triggering fears of further inflation on global food markets. The government said it was imposing a ban …

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Gold slips from 2-month peak as dollar, yields rebound

By Brijesh Patel (Reuters) – Gold prices slipped from a two-month high on Thursday as the dollar and bond yields ticked higher, although hopes for a pause in rate hikes by the U.S. Federal Reserve after July meeting limited the decline. Spot gold was down 0.4% at $1,969.53 per ounce by 1:42 p.m. EDT (1742 …

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India’s Ola Electric targeting $1.5 billion sales this year, pre-subsidy cut document shows

By M. Sriram and Aditi Shah MUMBAI (Reuters) – Indian e-scooter maker Ola Electric expects revenue to quadruple to $1.5 billion this financial year and then double that again in two years, according to a document containing corporate projections and people briefed on the matter. The figures, however, pre-date surprise cuts by the federal government …

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India’s Modi promises tough action over ‘shameful’ Manipur sexual assault allegations

By Tanvi Mehta NEW DELHI (Reuters) -Prime Minister Narendra Modi on Thursday condemned the alleged sexual assault of women in Manipur state as “shameful” and promised tough action in his first comments on ethnic clashes in the remote northeast which have killed at least 125 people. The clashes began in early May and much of …

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India’s Dalmia Bharat posts 34% fall in Q1 profit on pricing concerns

BENGALURU (Reuters) – Indian cement manufacturer Dalmia Bharat reported a nearly 34% fall in first-quarter profit on Thursday as lack of growth in cement prices and rise in raw material prices outweighed volume growth. The company’s consolidated net profit fell to 1.30 billion Indian rupees ($15.86 million) for the quarter ended June 30, from 1.96 …

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Factbox-Why Indian rice export ban is so important to global trade

By Rajendra Jadhav MUMBAI (Reuters) – India has prohibited the export of non-basmati white rice with immediate effect, according to a government notice on Thursday, after a late start to seasonal monsoon rains hurt the crop and raised fears of a production shortfall. Here are some facts explaining why India is crucial to the global …

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WHO seeks help from India in latest toxic syrup case

By Jennifer Rigby LONDON (Reuters) – The World Health Organization (WHO) has asked the Indian authorities for help in establishing the origins of a contaminated cough syrup that has been linked to children’s deaths in Cameroon. The U.N. agency issued a warning on Wednesday about a syrup branded as Naturcold, which was sold in Cameroon …

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India’s Adani to convert Mumbai slum into modern city despite challenges

By Dhwani Pandya and Aditya Kalra MUMBAI (Reuters) – Indian billionaire Gautam Adani on Thursday said he plans to convert India’s largest slum in Mumbai, Dharavi, into a modern city hub, a huge challenge which would require the rehousing of around 1 million people. Believed to be the largest slum in Asia, Dharavi is a …

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