NEW DELHI (Reuters) -The Indian government has received multiple bids for a majority stake in IDBI Bank, an official said in a tweet on Saturday, after the deadline for expressions of interest closed earlier in the day. The government, which owns 45.48% of IDBI Bank, is looking to divest a 30.48% stake in the lender, …
Indian government gets bids for majority stake in IDBI bank Read More »
By Saurabh Sharma LUCKNOW (Reuters) – Indian authorities have moved nearly 200 people from their homes in the Himalayan town of Joshimath, an official said on Saturday, after hundreds of buildings in the area popular with pilgrims and tourists developed cracks due to shifting soil. For years, experts have warned that large-scale construction work, including …
Nearly 200 people in Himalayan town evacuated after homes develop cracks Read More »
By Mayank Bhardwaj NEW DELHI (Reuters) -Indian authorities rushed approvals for a locally developed genetically modified (GM) mustard variety by violating environmental regulations, a group of activists opposed to GM crops said on Friday. In October, India granted environmental clearance for indigenously developed GM mustard seeds, paving the way for the commercial use of its …
Activists accuse India of lapses in genetically modified mustard approval Read More »
(Reuters) -Sania Mirza, India’s former doubles world number one, said she will call time on her career aged 36 after next month’s Dubai Tennis Championships, after her 2022 retirement plans were delayed due to injury. Mirza, regarded as her country’s greatest women’s tennis player, has won six Grand Slam doubles titles and will compete in …
Tennis-India’s Mirza to retire after WTA 1000 event in Dubai in February Read More »
By Seher Dareen (Reuters) – Gold prices shot up over 1% on Friday to seven-month highs as Treasury yields and the dollar fell after U.S. economic data cemented expectations of a less-hawkish Fed, setting the metal on track for its third consecutive weekly rise. Spot gold jumped 1.9% to $1,867.18 per ounce by 1:43 p.m. …
Gold jumps to highest since June on suggestions of less-hawkish Fed path Read More »
BENGALURU (Reuters) -A stake for sale in state-backed electricity trader PTC India Ltd is attracting initial interest from potential suitors including Asia’s richest man Gautam Adani, Bloomberg News reported, citing people familiar with the development. Adani is among possible bidders reviewing preliminary information on the business, while other Indian conglomerates are also evaluating whether to …
Adani eyes stake in state-backed power trader PTC India – Bloomberg News Read More »
By Tanvi Mehta NEW DELHI (Reuters) – Wells Fargo said on Friday it had terminated one of its employees in India and was cooperating with local law enforcement, after allegations of misbehaviour onboard an Air India flight. Tata group-owned Air India said earlier this week it had banned a male passenger for 30 days in …
Wells Fargo terminates employee over unruly behaviour on Air India flight Read More »
By Aftab Ahmed and Nikunj Ohri NEW DELHI (Reuters) – India’s government expects economic growth to slow in the financial year ending March, as pandemic-related distortions ease and pent-up demand for goods levels out going into 2023. Gross domestic product (GDP) will likely rise 7% this fiscal year, compared with 8.7% the previous year, the …
Indian economic growth to slow to 7% in 2022/23, govt forecasts Read More »
MUMBAI (Reuters) – The Reserve Bank of India will auction 160 billion rupees ($1.93 billion) worth of sovereign green bonds in two tranches, the central bank said on Friday, in the government’s first-ever such debt sale to raise funds to finance clean projects. The RBI will auction 5-year and 10-year green bonds worth 40 billion …
India launches first-ever sovereign green bonds auction Read More »
By Nupur Anand and Munsif Vengattil MUMBAI (Reuters) – Loss-making Indian telecom operator Vodafone Idea has sought at least 70 billion rupees ($846 million) in emergency funds from local banks, which are however reluctant to extend fresh loans, four sources familiar with the matter said. The company needs the funds to remain in business. But …
Banks not keen to fund India’s Vodafone Idea before capital hike – sources Read More »
