Business

Higher prices dent gold demand in Asia

BENGALURU/MUMBAI (Reuters) – Physical gold demand across Asia remained subdued this week as prices rallied to a three-and-a-half-month high, keeping retail buyers away from the market.  Gold prices hit 3-1/2-month highs on Thursday and were on track for a fourth straight weekly gain. Spot gold was down 0.36 percent at $1,318.12 per ounce at 0859 GMT on Friday. In top ...

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Too Early To Conclude Economic Recovery From Notes Ban, GST Impact: Manmohan Singh

Manmohan Singh criticised the BJP government’s economic policies, particularly the “coercive steps” of notes ban and the Goods and Services Tax (GST) that cost the nation hugely and “broke the back of businesses”. SURAT: Former Prime Minister Manmohan Singh on Saturday said it was too early to conclude that the economic slowdown has reversed as the 6.3 per cent growth ...

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Nissan sues India over outstanding dues; seeks over $770 million

NEW DELHI (Reuters) – Japanese automaker Nissan Motor has begun international arbitration against India to seek more than $770 million in a dispute over unpaid state incentives, according to a person familiar with the matter and documents reviewed by Reuters. In a legal notice sent to Prime Minister Narendra Modi last year, Nissan sought payment of incentives due from the ...

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As price war rages, Vodafone India seeks merger with rival Idea Cellular leftright 2/2leftright

By Kate Holton and Sankalp Phartiyal | LONDON/MUMBAI Britain’s Vodafone Group confirmed on Monday it was in talks to merge its Indian subsidiary with local rival Idea Cellular in an all-share deal that would create a new market leader better able to contest a brutal new price war. Vodafone, the world’s second-largest cellphone operator, has endured a tumultuous ride since ...

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Reliance Jio Asks TRAI to Impose ‘Highest Penalty’ on Airtel for Misleading Ads

Newcomer Reliance Jio has asked telecom regulator TRAI to “impose highest penalty” on Airtel, accusing the latter of grossly exaggerating the value of data in a promotional offer, and giving misleading tariff ads. Jio has shot-off a letter to the telecom regulator alleging that in so far as the advertisements issued by Airtel for prepaid and postpaid tariff packs are ...

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Global shares, dollar retreat on Trump travel ban, weak U.S. GDP

By Nichola Saminather | SINGAPORE Asian share markets and U.S. stock futures fell on Monday after President Donald Trump introduced immigration curbs that sparked criticism at home and abroad, adding to fears that his ‘America First’ policy may prove destabilising for the rest of the world. Trump on Friday put a 120-day hold on allowing refugees into the country, an ...

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India likely to need higher sugar imports, says leading refiner

By Mayank Bhardwaj | NEW DELHI India’s sugar production is likely to be lower than government estimates this season, raising the possibility of higher imports by the world’s biggest consumer of the sweetener, the chief executive of leading Indian refiner Shree Renuka Sugars told Reuters. The government has forecast production of 22.5 million tonnes for the 2016/17 season and lower ...

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Maruti Suzuki Q3 profit rises 48%

NEW DELHI, JAN 25:   Led by higher sales, the country’s largest passenger car manufacturer Maruti Suzuki India Ltd (MSIL) on Wednesday reported standalone net profit of ₹1,744 crore for the third quarter ended December 31 up 48 per cent against ₹1,183 crore in the same period last year. “Growth in sales, increase in share of the company’s higher segment models, ...

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