By Chris Thomas, Nupur Anand BENGALURU/MUMBAI (Reuters) – State Bank of India, the country’s largest lender by assets, on Wednesday forecast stronger annual credit growth and beat estimates for quarterly profit as economic activity gathers momentum after being hammered by one of the world’s strictest lockdowns. SBI rounds off a strong quarterly earnings season for Indian banks […]
By Imogen Foulkes BBC News, Geneva Geneva is a very wealthy place. Home to a huge private banking sector, the United Nations, and auction houses Sotheby’s and Christie’s, which regularly sell enormous gemstones for eye-watering prices. And this month it is introducing the highest minimum monthly salary in the world, in response to a referendum […]
By Reuters Staff BENGALURU (Reuters) – Indian online grocery startup BigBasket is in advanced talks to sell a majority stake for about $1 billion to salt-to-software conglomerate Tata Group, the Economic Times reported on Wednesday, citing three sources familiar with the matter. The century-old group has been planning to launch a “super app”, one that […]
By Reuters Staff (Reuters) – Hasbro Inc reported a 4% fall in adjusted revenue on Monday as coronavirus-led delays in the production of movies and TV shows hit its entertainment unit, taking the shine off its thriving board game business and sending its shares down 10%. The fall in the company’s overall third-quarter net revenue, excluding […]
By Joyce Lee SEOUL (Reuters) – Samsung leader Jay Y. Lee’s trial, in a case of suspected accounting fraud and stock price manipulation connected to a 2015 merger, began on Thursday as a Seoul court held its first hearing. Lee and 10 other current and former Samsung executives were indicted by South Korean prosecutors last […]
By Nidhi Verma NEW DELHI (Reuters) – India is “treading very cautiously” in its plan to privatise state-run oil refiner Bharat Petroleum Corp Ltd, Oil Minister Dharmendra Pradhan said on Tuesday, in a sign that the process could be delayed. New Delhi’s plan to sell its 53.29% stake in BPCL was first announced in November 2019, […]
By Reuters Staff NEW DELHI (Reuters) – India will demand foreign firms use more locally produced materials when working on government-run projects, a government order said late on Friday. Indian authorities have been aggressively promoting Prime Minister Narendra Modi’s flagship campaign of a self-reliant economy by urging domestic manufacturers to cut down on imports. The Indian […]
The New Zealand stock exchange was knocked offline two days in a row due to a cyber-attack. NZX said it had first been hit by a distributed denial of service (DDoS) attack from abroad, on Tuesday. The exchange said the attack had “impacted NZX network connectivity” and it had decided to halt trading in cash […]
A worker grinds a gear rod used in a textile machine inside a small scale manufacturing unit in Ahmedabad, India, April 12, 2016. REUTERS/Amit Dave/File Photo NEW DELHI (Reuters) – India’s industrial output contracted 16.6% in June from a year earlier, government data showed on Tuesday, as a monthly measure indicated some recovery in the […]
