Reuters India

By David Lawder WASHINGTON (Reuters) -The International Monetary Fund said on Thursday that first quarter global growth slightly outpaced projections in its April forecasts, but data since then has shown a mixed picture, with “pockets of resilience” alongside signs of slowing momentum. The IMF said in a briefing note for a G20 finance leaders meeting …

IMF sees ‘pockets of resilience’, slowing momentum in global economy Read More »

By Nikunj Ohri and Shivangi Acharya NEW DELHI (Reuters) – India will not impose countervailing duty (CVD) on select steel products imported from China despite a recommendation from trade officials and lobbying from local steel manufacturers, a government source told Reuters. In a rare move the ministry is to reject the recommendation by the Directorate …

Exclusive-India to reject call for anti-subsidy tax on some Chinese steel products Read More »

By Andrea Shalal WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen will travel this week to India for meetings with Group of 20 finance officials and Indian officials, and then on to Vietnam for bilateral talks, the Treasury Department said on Thursday. Yellen, who returned to Washington on Sunday after a visit to China, will …

Yellen to travel to India for G20 finance meeting; Vietnam for bilateral talks Read More »

NEW DELHI (Reuters) – Indian online gaming firms planning to relocate overseas to avoid a new 28% tax on the sector run the risk of violating the country’s foreign exchange laws, Vivek Johri, head of the indirect taxes’ department, said on Thursday. New Delhi does not plan to implement the tax retrospectively, he said, in …

Indian online gaming firms relocating to avoid tax will be ‘risky’ – official Read More »

By Nikunj Ohri NEW DELHI (Reuters) – Many Indian ministers view bets on online gaming platforms as a “social evil”, and the government believes a social as well as economic purpose will be served if revenues fall due to a new 28% tax, the revenue secretary said on Thursday. The government on Tuesday shocked the …

Many India ministers view online gaming as ‘social evil’ – senior official Read More »

BENGALURU (Reuters) -Early Byju’s investor Mohandas Pai and former State Bank of India chairman Rajnish Kumar will join a council aimed at addressing corporate governance issues at the edtech startup roiled by government scrutiny and a spate of high-profile resignations. The council will mentor Byju’s board and its CEO Byju Raveendran on crucial matters, the …

Mohandas Pai, ex-SBI chairman to join Byju’s advisory council Read More »

By Sethuraman N R and Navamya Ganesh Acharya BENGALURU (Reuters) -India’s Wipro on Thursday joined some of its larger peers in flagging an uncertain demand environment as clients cut spending, and forecast revenue from IT services would remain largely flat for the current quarter. The Bengaluru-based company said its second-quarter IT services revenue, which accounts …

India’s Wipro flags uncertain demand, sees muted Q2 IT services rev Read More »

By Bhakti Tambe and Dharamraj Dhutia MUMBAI (Reuters) – India’s largest lender State Bank of India (SBI) raised only the base amount in its first perpetual bond issue for fiscal 2024 as investors sought higher returns than the bank was willing to offer, merchant bankers said. SBI raised 31.01 billion rupees ($377.87 million) via the …

Weak demand for State Bank of India perpetual bonds as investors seek higher returns Read More »