Category: India
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Online sellers on Walmart’s Flipkart sue India watchdog over antitrust probe By Reuters
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By Aditya Kalra NEW DELHI (Reuters) – Three online sellers working for Walmart-owned Flipkart have sued India’s antitrust watchdog over an investigation that found they, Flipkart and rival Amazon (NASDAQ:) violated competition laws, according to court filings seen by Reuters. The filings come after antitrust investigations that concluded in August…
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Amazon names veteran Samir Kumar as new India head By Reuters
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Written by Sai Ishwarbharat B and Varun Vyas Heppalalu (Reuters) – Amazon.com Inc appointed Sameer Kumar as its new India chief on Wednesday, handing the reins to a 25-year veteran as the e-commerce giant faces stiff competition and regulatory pressure in the country. Kumar was part of the team that…
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Samsung India strike puts spotlight on powerful Indian labour group By Reuters
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Written by Monsef Vengatil and Praveen Paramasivam CHENNAI (Reuters) – A strike by workers in India that has disrupted production at a Samsung plant has put the spotlight on a politically backed labour group that has quietly rallied the South Korean company’s employees and is now planning to expand its…
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India stocks higher at close of trade; Nifty 50 up 0.42% By Investing.com
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Investing.com – Indian stocks were higher after Tuesday’s close, as gains in the banking and services sectors led shares higher. At the close on the NSE, the index added 0.42%, while the BSE added 0.44%. The session’s top performer was Divi’s Laboratories Ltd. (NS:), which rose 5.09% or 263.50 points…
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India stocks higher at close of trade; Nifty 50 up 0.42% By Investing.com
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Investing.com – Indian stocks were higher after Tuesday’s close, as gains in the banking and services sectors led shares higher. At the close on the NSE, the index added 0.42%, while the BSE added 0.44%. The session’s top performer was Divi’s Laboratories Ltd. (NS:), which rose 5.09% or 263.50 points…
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India underperformed EM in August; defensive sectors outperformed By Investing.com
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Investing.com – In August 2024, the Indian stock market saw mixed performance, with the MSCI India Index returning a positive 0.9%. However, despite the gain, the index underperformed the emerging markets index by about 0.5 percentage points, putting India at 15th out of 24 emerging markets, Morgan Stanley analysts said…
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India underperformed EM in August; defensive sectors outperformed By Investing.com
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Investing.com – In August 2024, the Indian stock market saw mixed performance, with the MSCI India Index returning a positive 0.9%. However, despite the gain, the index underperformed the emerging markets index by about 0.5 percentage points, putting India at 15th out of 24 emerging markets, Morgan Stanley analysts said…
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Exclusive-Russia’s Sberbank says India business booming despite Western sanctions By Reuters
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Written by Elena Fabrichnaya and Gleb Bryansky MOSCOW (Reuters) – Trade between Russia and India is booming and bilateral payments are running smoothly without the problems that have hampered trade with other countries, Anatoly Popov, deputy chief executive of Russia’s largest lender Sberbank, told Reuters. Sberbank handles up to 70%…
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Analysis-Apple set for music, TV streaming fight in India after Airtel deal By Reuters
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Written by Munsif Vengatil and Aditya Kalra NEW DELHI (Reuters) – Apple Inc’s (NASDAQ:AAPL) partnership with India’s second-biggest telecom company will give the iPhone maker a boost in the content market where it lags far behind the likes of Spotify Inc (NYSE:S) and Amazon.com Inc (AMZN.O). Disney (New York Stock…
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Telegram Under Scrutiny In India: What’s Next?
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Current debate The issue surrounding a potential ban on Telegram in India has captured national attention. As the Indian government tightens its grip on digital platforms to curb illegal activities, Telegram finds itself under investigation in India and facing intense scrutiny. Allegations that the app facilitates criminal activities, including Telegram…
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Telegram Under Scrutiny In India: What’s Next?
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Current debate The issue surrounding a potential ban on Telegram in India has captured national attention. As the Indian government tightens its grip on digital platforms to curb illegal activities, Telegram finds itself under investigation in India and facing intense scrutiny. Allegations that the app facilitates criminal activities, including Telegram…
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Foxconn chief defends hiring practices after report married women rejected in India By Reuters
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Written by Praveen Paramasivam SRIPERUMBUDUR, India (Reuters) – Foxconn’s chairman defended its hiring practices on Saturday after New Delhi ordered an investigation following a Reuters report that the Apple supplier was rejecting married women from iPhone assembly jobs. “Foxconn hires regardless of gender, but women make up a large part…
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Binance Faces $86 Million Tax Penalty In India
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Image: milkroad.com In a significant development that has sent shockwaves through the cryptocurrency world, Binance, the world’s largest digital asset exchange, has been hit with a $86 million tax back order from Indian authorities. The landmark move by India’s Directorate General of Goods and Services Tax Intelligence not only highlights…
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Fidelity, Nomura line up bids for Ola Electric’s India IPO, sources say By Reuters
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Written by Aditya Kalra NEW DELHI (Reuters) – The initial public offering of Indian e-scooter maker Ola Electric, backed by SoftBank, will attract bids from investors including Fidelity, Nomura and Norway’s Norges Bank as well as several Indian investment funds, two sources familiar with the matter told Reuters. Ola Electric,…
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India cenbank may prefer mild rupee weakness to correct overvaluation, BofA says By Reuters
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MUMBAI (Reuters) – The Reserve Bank of India may allow the rupee to weaken slightly to ease a slightly elevated real effective exchange rate and keep the South Asian currency “competitive”, Bank of America Securities said in a note on Thursday. This “supports the government’s ambitions to attract large-scale manufacturing…
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Florida farmers turn to ancient tree from India as the citrus industry dries up
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An ancient tree from India is now growing in Florida’s citrus orchards, and it could help provide renewable energy for the country. With much of the Sunshine State’s famous citrus industry drying up over the past two decades due to two deadly diseases, citrus greening and canker, some growers are…