Business News Mumbai

  • *10- yr bond yield hits lowest level since April 2018. MUMBAI/ BENGALURU, May 23- India's stock market shot to record highs early on Thursday on news the prime minister was easily securing a second term, but all gains vanished as investors took profits and started looking at the broader fundamental issues facing the economy. "Giving credence to the old adage' sell on...

  • NEW DELHI, May 23- From a shortage of job opportunities and a stuttering economy to tense ties with old foe Pakistan, Indian Prime Minister Narendra Modi will face a host of challenges after winning a big majority on Thursday. Modi's election victory was on the plank of national security, a campaign that gained strength in February when he sent warplanes into...

  • *10- yr bond yield hits lowest level since April 2018. MUMBAI/ BENGALURU, May 23- India's stock market shot to record highs early on Thursday on news the prime minister was easily securing a second term, but all the gains vanished as investors took profits and started looking at the broader fundamental issues facing the economy. "Giving credence to the old adage' sell...

  • NEW DELHI/ MUMBAI/ BENGALURU, May 23- Indian Prime Minister Narendra Modi on Thursday swept to a huge election victory, giving his party a mandate to pursue policies that put Hindus first, are mainly business-friendly and take a hard line on national security. The main opposition Congress party, led by Rahul Gandhi, was leading in 52 seats. AVINASH PALIWAL, DEPUTY...

  • MUMBAI/ BENGALURU/ NEW DELHI, May 23- Prime Minister Narendra Modi's party was set for a historic victory as India counted hundreds of millions of votes from its general election on Thursday. The National Democratic Alliance, led by Modi's Hindu nationalist Bharatiya Janata Party, was ahead in 324 seats, broadcaster NDTV said. SACHIN SHAH, FUND MANAGER, EMKAY...

  • *Demand in India to be tepid for 3-6 months- exec. *Channel checks show JLR struggling in China- analyst. Mumbai- based Tata Motors, which reported quarterly earnings results after markets closed on Monday, has been struggling with its JLR arm for months due to a slump in China sales, while also dealing with a weak industry.

  • LONDON/ MUMBAI, May 20- Time to abandon the Huawei phone? That was what some owners asked after U.S. tech giant Google said it would suspend its business with China's top mobile maker, threatening future access to Gmail, YouTube and Chrome. The order to U.S. companies could affect tens of millions of consumers in Europe, its biggest market outside mainland China.

  • *$1,265 critical level for gold- analyst. May 20- Gold fell to a more than two-week low on Monday as investors preferred the safety of the dollar, with the currency underpinned by robust economic reports out of the United States, even as geopolitical risks and trade tensions persist. Spot gold was down 0.2% at $1,274.51 an ounce at 1025 GMT, having touched $1,273.22...

  • *China shares down after Washington blacklists Huawei. Samrat Dasgupta, a fund manager at Esquire Capital Investment Advisors warned that while a rally could be expected for the next few days, further upside- even if the outcome matches the polls- will be limited as people will wait to see what policies will be made by the new government as the economy passes...

  • *Premiums in China fall to $6- 8 an ounce. *Hong Kong, Singapore premiums little changed. Gold futures in India, the world's second biggest bullion consumer after China, jumped to 32,538 rupees per 10 grams earlier this week, a peak since March 4.

  • BENGALURU, May 14- The chief executive and head of finance at Jet Airways have both quit, the Indian company said on Tuesday, further eroding hopes of a rescue of the debt-laden carrier that grounded operations last month. Jet, also saddled with roughly $1.2 billion in bank debt, was crippled by mounting losses as it attempted to compete with low-cost rivals...

  • ABU DHABI/ MUMBAI/ NEW DELHI, May 10- Middle Eastern carrier Etihad Airways has submitted a bid for a stake in India's Jet Airways, the unit of State Bank of India overseeing the sale of the stricken airline said on Friday. However, he added that Etihad "cannot be expected to be the sole investor" and "additional suitable investors would need to provide the majority of...

  • FRANKFURT, May 10- Thyssenkrupp abandoned plans to hive off its steel business and split up the rest of the German conglomerate on Friday after a lengthy battle with activist investors and regulators, opting to list its elevators division instead. However, Chief Executive Guido Kerkhoff ditched this proposal because Thyssenkrupp's low share price had made a...

  • *China premiums drop to $8 from $12 early in week. *Singapore premiums decline, Hong Kong unchanged. MUMBAI/ BENGALURU, May 10- Gold demand jumped this week in India due to increased retail purchases for a key festival and weddings on price corrections, while premiums in China eased as buying slowed in the world's top consumer.

  • SYDNEY- Reserve Bank of Australia issues statement on monetary policy- 0130 GMT. WARSAW- National Bank of Poland holds monetary policy council meeting. BUDAPEST- Hungarian Central Bank to publish the minutes of its April 2019 rate-setting meeting- 1200 GMT.

  • MUMBAI/ NEW DELHI, May 8- In 2016, Rajesh Raut started driving an Uber taxi in Mumbai, hoping he could earn more than the $215 he received each month for making flatbreads at a roadside stall. Thanks to attractive cash incentives offered as Uber lured drivers in one of its biggest markets outside the United States, Raut's monthly earnings jumped to $1,280.

  • WEDNESDAY, MAY 8 BANGKOK- Bank of Thailand monetary policy committee meeting. ZAGREB- Croatia National Bank holds monetary policy meeting. MANILA- Philippines Central Bank holds monetary policy meeting.

  • ZADSHI VILLAGE, India, May 3- Three years ago, brick mason Pundlik Bhandekar was always busy as farmers in his tiny hamlet in western India commissioned new houses and nearby towns were undergoing rapid urbanisation. From daily wage workers such as masons, to barbers and grocery shop owners- just about everyone in Zadshi village, some 720 km from India's financial...

  • *Singapore, Hong Kong premiums unchanged. MUMBAI/ BENGALURU, May 3- Gold demand was robust in India and Singapore this week as a correction in prices ahead of a key gold-buying festival boosted purchases even as major centres like China and Japan were closed for most of the week due to holidays. Gold demand spiked in India as a fall in prices to the lowest level in more...

  • ANKARA- Central Bank of the Republic of Turkey publishes its Inflation Report ANKARA- Central Bank of the Republic of Turkey publishes summary of its monetary policy committee meeting. BUDAPEST- Hungarian central bank holds its rate-setting meeting- 1200 GMT. WEDNESDAY, MAY 1 SYDNEY- Presentation by Melissa Hope, head of Note Issue Department at Reserve Bank of...