Business News Mumbai

  • NEW DELHI, Oct 14- India's retail inflation rose close to the central bank's medium-term target of 4% in September for the first time in 14 months, but analysts still predict a sharp economic slowdown will prompt a sixth consecutive interest rate cut in December. Retail food prices, which make up nearly half of India's inflation basket, increased 5.11% in...

  • *India demand could improve in the second half of October-dealer. BENGALURU/ MUMBAI, Oct 11- Gold demand in top-consumer China was subdued this week as investors awaited outcome of crucial trade negotiations with the United States, while purchases in India during a key festival were lower-than-usual because of higher prices. India celebrated Dussehra...

  • KUALA LUMPUR, Oct 10- Palm oil inventories in Malaysia, the world's second-largest producer of the edible oil, rose for the first time in seven months in September, data from an industry regulator showed on Thursday, as production rose amid slowing exports. Exports in September dropped 18.8%, after rising for two consecutive months to a three-year top of 1.4...

  • BENGALURU, Oct 7- India's Oyo Hotels and Homes shot out of nowhere to become one of the world's largest hotel chains with a simple promise of "hassle-free" online booking, transparent pricing and cheerful lodging. The backlash against Oyo- while limited to a small share of the more than 10,000 hotel owners in India who work with it- comes at a crucial time for an...

  • *India discounts narrow, Singapore premiums little changed. BENGALURU/ MUMBAI, Oct 4- A dip in prices earlier this week fuelled an uptick in physical gold demand in Singapore and India, with activity in the Indian market also gathering pace ahead of key festivals. In Singapore, sellers charged premiums between 50 and 70 an ounce over the benchmark, versus 50- 80 cents...

  • MUMBAI, Oct 3- India arrested the head of a bankrupt realty company on Thursday after lender Punjab and Maharashtra Co-operative Bank accused executives of partaking in a "criminal conspiracy" involving forged audit reports that cost the bank some 43.55 billion rupees. In the latest case to roil India's banking sector, PMC made a police complaint accusing its...

  • *Export ban lifts prices in Bangladesh, Nepal and Sri Lanka. *Buyers bid to switch to China, Egypt, Iran to calm prices. That's because India, the world's biggest seller of the Asian diet staple, has banned exports after extended Monsoon downpours delayed harvests and supplies shriveled.

  • *Ford, Mahindra to form JV in India, Ford will hold 49% stake. *JV marks shift in Ford's India strategy. MUMBAI/ NEW DELHI, Oct 1- Ford Motor Co and Mahindra& Mahindra said on Tuesday they would form a joint venture in India, in a move aimed at reducing risks for the U.S. automaker's local business and cutting the cost of developing and producing vehicles for emerging...

  • *India's discount tapers to $12/ oz vs $47 last week. *Chinese premiums at $8- 12/ oz vs $10. Dealers were offering a discount of up to $12 an ounce to official domestic prices on Friday, down from a $40 discount on Thursday and up to $47 last week.

  • *India's discount tapers to $12/ oz vs $47 last week. *Chinese premiums at $8- 12/ oz vs $10. Dealers were offering a discount of up to $12 an ounce to official domestic prices on Friday, down from a $40 discount on Thursday and up to $47 last week.

  • KUALA LUMPUR/ MUMBAI, Sept 27- Benchmark palm oil prices may rise to 2,500 ringgit a tonne by March 2020, according to forecasts by industry analyst Dorab Mistry, as dry weather across Southeast Asia limits output of the edible oil. "A lot will depend on Brent prices and the implementation of B30 in Indonesia," he said, referring to Indonesia's biodiesel mandate that...

  • CHONBURI, Thailand, Sept 27- When trade war tariffs jolted Chinese tyre-maker Prinx Chengshan into speeding up foreign investment plans, the company wound up in Thailand, thanks to that country's relentless courtship. Multiple visits to China by Thailand's Board of Investment helped. "This impressed our company, and this is also one of the main reasons for...

  • *Spot gold may test support at $1,488 per ounce/oz. "A bunch of U.S. economic data came way above the forecasts, like the new home sales data and that along with a strong dollar is weighing on gold right now," said Jigar Trivedi, a commodities analyst at Mumbai- based Anand Rathi Shares& Stock Brokers. President Donald Trump not only abused his office in attempting to...

  • KUALA LUMPUR/ MUMBAI, Sept 26- European crude palm oil prices are forecast to rise to $620 per tonne, or $570 on a free-on-board basis, by the second quarter of 2020 as stockpiles decline, James Fry, the chairman of commodities consultancy LMC International said on Thursday. "This slowdown of palm oil output will coincide with further growth in biodiesel output in...

  • *Silver hits a peak since Sept. 6 at $18.74/ oz. Sept 24- Gold prices were steady on Tuesday, near a two-week peak touched in the previous session on global slowdown fears and tensions in the Middle East, while an improved Sino-U.S. trade tone weighed on prices. Spot gold was little changed at $1,521.62 per ounce at 0734 GMT, after climbing to its highest since Sept. 6 at...

  • *Tax revenue loss from lower rates seen at $20.4 bln. PANAJI, India, Sept 20- India cut corporate tax rates on Friday in a surprise move designed to woo manufacturers, revive private investment and lift growth from a six-year low that has led to major job losses and fueled discontent in the countryside. Prime Minister Narendra Modi, under pressure to make good on a...

  • *Singapore premiums narrow to $0.55- $0.75 an ounce. Dealers in the world's biggest gold consumer charged a premium of about $10 an ounce over the benchmark, compared with $8- $11 a week ago. Premiums in Hong Kong were unchanged at 50 cents to $1, as demand was weak and buying only came from the investment side, said Ronald Leung, chief dealer at Lee Cheong Gold Dealers.

  • *Tax revenue loss from lower rates seen at $20.4 bln. PANAJI, India, Sept 20- India cut corporate tax rates on Friday in a surprise move designed to woo manufacturers, revive private investment and lift growth from a six-year low that has led to major job losses and fueled discontent in the countryside. Prime Minister Narendra Modi, under pressure to make good on a...

  • *Equity markets up more than 5%; tax revenue loss about $20.5 bln. PANAJI, India, Sept 20- India's government slashed corporate taxes on Friday, giving a surprise $20.5 billion break aimed at reviving private investment and lifting growth from a six-year low that has caused job losses and fueled discontent in the countryside. Finance Minister Nirmala Sitharaman...

  • *Gold to remain neutral between $1,488- $1,523.61/ oz- technicals. Spot gold was barely changed at $1,501.39 per ounce as of 0708 GMT. Last week the ECB already cut interest rates, now the focus will be on the FOMC, "said Jigar Trivedi, a commodities analyst at Mumbai- based Anand Rathi Shares& Stock Brokers.