By Ashitha Shivaprasad (Reuters) – Gold prices hovered near an eight-week peak on Wednesday after recent economic data re-ignited hopes that the U.S. Federal Reserve may soon hit pause on its interest rate-hiking cycle. Spot gold eased 0.1% at $1,977.25 per ounce by 01:43 p.m. ET (1743 GMT), as the U.S. dollar ticked up from …
Gold stalls near 8-week highs on Fed pause hopes Read More »
(This July 17 story has been refiled to clarify the details about Route Mobile CEO’s additional role in paragraph 6) BENGALURU (Reuters) – Belgium’s Proximus Opal, which provides cloud-based telecom platforms for enterprises, said on Monday it would buy a near-58% stake in Route Mobile for about 59.22 billion rupees ($721 million), at par with …
Belgium’s Proximus to buy 58% stake in India’s Route Mobile for $721 million (July 17) Read More »
(Reuters) – India’s Enforcement Directorate conducted raids on the former promoter of Jet Airways, Naresh Goyal and his associates, ANI reported on Wednesday citing sources. (Reporting by Akanksha Khushi in Bengaluru; Editing by Jon Boyle)
By Alistair Smout, Muvija M and Nick Carey LONDON/GAYDON, England (Reuters) -India’s Tata Group will build an electric vehicle battery plant in Britain to supply its Jaguar Land Rover factories, delivering a major boost for a UK car industry in need of domestic battery production to help secure its future. The announcement marks Britain’s biggest …
India’s Tata chooses UK for $5 billion Jaguar Land Rover gigafactory Read More »
BENGALURU (Reuters) – Indian milk processing firm Hatsun Agro Product said on Wednesday its quarterly profit surged 54% as a rise in input costs was offset by higher milk prices on the back of strong demand. Milk prices in India hit its peak during the June quarter on account of lower output and robust demand, …
Indian dairy firm Hatsun Agro’s Q1 profit jumps on higher milk demand Read More »
BENGALURU (Reuters) – Indian network services provider Tata Communications reported a 30% slump in first-quarter profit on Wednesday, hit by higher interest costs and lower foreign exchange gains. Consolidated net profit for the quarter ended June 30, was 3.82 billion rupees ($46.6 million), compared with 5.44 billion rupees a year ago. The company also plans …
India’s Tata Communications posts 30% slump in profit as expenses weigh Read More »
NEW DELHI (Reuters) -Indian tax officials have visited an office of Temasek-backed ed-tech startup upGrad for a routine survey, the company said on Wednesday. “It’s a routine survey and we are fully compliant and cooperating with the department,” Koell Hemdev, head of legal at upGrad, said in a statement, without sharing more details of the visit. India’s goods …
Indian tax officials visit ed-tech startup upGrad’s office Read More »
NEW DELHI (Reuters) -India has an opportunity to cash in on global companies’ efforts to build factories outside China, the new World Bank president said on Wednesday, as firms seek to diversify their supply chains. His comments follow recent investment announcements by U.S. firms, including chipmaker Micron Technology, in India and come as the United States …
India should cash in on ‘China plus one’ strategy – World Bank chief Read More »
By Manoj Kumar NEW DELHI (Reuters) – A delay in holding India’s census has impacted the quality of all statistical surveys, including economic data, inflation and jobs estimates, said the head of a government panel set up to review the surveys and suggest improvements. India’s once in a decade census was due to be completed …
Delay in India’s census hurting quality of survey reports, says official Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares rose for the fifth straight day on Wednesday, aided by a late-session resurgence in Reliance and an uptick in banking and media stocks on strong quarterly earnings. The Nifty 50 index closed 0.42% at 19,833.15, while the S&P BSE Sensex rose 0.45% to 67,097.44, closing above the 67,000 …
Indian shares extend record rally on earnings boost Read More »
