By Swati Verma (Reuters) – Gold prices on Monday firmed above last session’s more than three-month low, as concerns surrounding the political turmoil in Russia drove flows into safe-haven bullion, outweighing risks from the Federal Reserve’s hawkish outlook. Spot gold was up 0.1% at $1,923.61 per ounce by 10:26 a.m. EDT (1426 GMT), while gold …
Gold firms above 3-month lows amid political turmoil in Russia Read More »
NEW DELHI (Reuters) – India’s federal government has approved investment proposals worth 564.2 billion rupees ($6.88 billion) to state governments under a scheme that provides interest-free loans for infrastructure spending, according to a statement from the finance ministry. As part of the 2023/24 Union Budget, the federal government had announced it would provide special assistance …
India government okays states’ investment proposal worth $6.9 billion under infra scheme Read More »
MUMBAI (Reuters) – The Reserve Bank of India will likely start cutting the policy repo rate in early 2024 once headline inflation eases toward the 4% target, S&P Global Ratings said. “In India, under the assumption of normal monsoons, we expect headline consumer inflation to soften to 5% in fiscal 2024 from 6.7%,” the rating …
India’s cenbank may cut rates in early 2024 as inflation eases – S&P Read More »
By Neha Arora and Mayank Bhardwaj NEW DELHI (Reuters) – State-owned Indian iron ore miner NMDC is likely to invest around 5 billion rupees ($61 million) in its planned first foray into gold mining, a source with direct knowledge of the matter said on Monday. NMDC is “on track” to secure a lease for the …
Indian miner NMDC plans $61 million investment in first gold block – source Read More »
BENGALURU (Reuters) -India’s blue-chip Nifty 50 ended a touch higher on last-hour buying on Monday, lifted by gains in automakers after monsoons revived in some parts of the country, while midcap stocks climbed sharply. The Nifty closed up 0.14% at 18,691.2, while the S&P BSE Sensex dipped 0.01% to 62,970.00. However, the Nifty midcap 100 …
India’s Nifty 50 ends higher on auto boost; midcaps climb Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee stuck to a narrow range and hovered around the 82-per-dollar level on Monday, amid deeper losses for most Asian currencies and a lack of speculative interest, traders said. The rupee traded in an 81.9400-82.0475 range before ending at 82.0400 to the dollar, marginally lower than 82.0350 …
Rupee holds in narrow range around 82/USD, premiums higher Read More »
By Aditya Kalra NEW DELHI (Reuters) – French spirits giant Pernod Ricard’s India head of corporate affairs, Yashika Singh, has resigned, three sources with knowledge of the matter said on Monday. Singh, who headed corporate affairs for the Indian market, with focus on regulatory matters, including related to manufacturing and government policy, resigned last week, …
Pernod India’s corporate affairs head quits, sources say Read More »
NEW DELHI (Reuters) – India’s finance minister has derided comments by former U.S. President Barack Obama that Prime Minister Narendra Modi’s government should protect the rights of minority Muslims, accusing Obama of being hypocritical. During Modi’s state visit to the United States last week, Obama told CNN that the issue of the “protection of the …
Indian minister scoffs at Obama comment on protecting Muslims Read More »
BENGALURU (Reuters) -India’s ICICI Securities jumped 15% in heavy trading on Monday on plans to delist from the stock exchange, likely by swapping its shares with those of parent ICICI Bank, which have outperformed those of the brokerage. While neither company’s statement mentioned a share swap, they said their boards will consider a delisting proposal …
India’s ICICI Securities jumps on plans to delist by share-swap with ICICI Bank Read More »
BENGALURU (Reuters) -Infosys, India’s No.2 IT services provider, signed a $454-million contract with Denmark’s Danske Bank on Monday, at a time when the broader sector is struggling with a slowdown in an uncertain global economy. The IT company will help digitize the lender’s core business and add more cloud and data facilities to it, including …
India’s Infosys signs $454-million deal with Danske Bank Read More »
