News

Apple`s India sales jump 33% to near $8 billion last year, Bloomberg News reports Apple's India sales jumped 33% to a record of almost $8 billion in the year through March, Bloomberg News reported on Monday, citing a person familiar with the matter. Apple's iPhones accounted for more than half of the sales, the report said. The company did not immediately respond to a Reuters request for comment. In April, Bloomberg News reported that Apple has assembled $14 billion worth of iPhones in India last fiscal year, and makes as much as 14% of its marquee devices...
Apple`s India sales jump 33% to near $8 billion last year, Bloomberg News reports
Apple`s India sales jump 33% to near $8 billion last year, Bloomberg News reports
Source: Reuters
2024-07-15 02:12:31 pm
BAT mulls sale of `small part` of stake in India`s ITC British American Tobacco is evaluating a possible disposal of a "small part" of its shareholding in India's ITC through an on-market block trade, it said on Monday. BAT had announced in February that it was "actively working" to reduce its roughly 29% stake in the Kolkata, India-headquartered company which has interests in segments ranging from hotels to consumer packaged goods. Investors were disappointed, sending its shares down when the UK company opted agains...
BAT mulls sale of `small part` of stake in India`s ITC
BAT mulls sale of `small part` of stake in India`s ITC
Source: Reuters
2024-03-12 10:06:25 am
India`s growing stature in the global economy The GDP forecast upgrade by Moody’s and India’s inclusion in the Bloomberg bond index have added to India’s growing importance in the global economy. Earlier this week, global ratings agency Moody's raised India's GDP growth projection for CY24 to 6.8 per cent, as against the 6.1 per cent projected earlier. Bloomberg on Tuesday announced the inclusion of India FAR bonds in the Bloomberg Emerging Market (EM) Local Currency Government Index. “This is an ...
India`s growing stature in the global economy
India`s growing stature in the global economy
Source: Reuters
2024-03-07 09:31:16 am
Bloomberg to add Indian bonds to EM debt indexes from January 2025  Bloomberg Index Services said on Tuesday it would include in its Emerging Market Local Currency Index from Jan. 31 next year 34 Indian government bonds eligible for investment via the country's fully accessible route (FAR). "The inclusion of these bonds will be phased in over a 10-month period starting on the rebalance date of January 31, 2025," it said in a statement. "The weight of India FAR bonds will be increased in increments of 10% of their full market val...
Bloomberg to add Indian bonds to EM debt indexes from January 2025
Bloomberg to add Indian bonds to EM debt indexes from January 2025
Source: Reuters
2024-03-05 03:52:38 pm
Disney, Reliance have signed binding media pact, Bloomberg reports citing sources Walt Disney and industrial conglomerate Reliance Industries have signed a binding pact to merge their media operations in India, Bloomberg News reported on Sunday, citing people familiar with the matter. The media unit of Reliance, controlled by billionaire Mukesh Ambani, and its affiliates are expected to own at least 61% of the merged entity, with Disney holding the rest, the report said.
Disney, Reliance have signed binding media pact, Bloomberg reports citing sources
Disney, Reliance have signed binding media pact, Bloomberg reports citing sources
Source: Reuters
2024-02-25 05:47:09 pm
India eyes $100 billion investment deal with Switzerland, Norway- Bloomberg News India is close to finalizing a trade deal that could see a small group of European nations invest as much as $100 billion over 15 years for easier trade access to the country, Bloomberg News reported on Wednesday. The European Free Trade Association (EFTA), which includes Norway, Iceland, Liechtenstein and Switzerland, made a commitment as part of a trade pact that is in final negotiations, Bloomberg reported, citing people familiar with the matter. The investment in India from the EFTA...
India eyes $100 billion investment deal with Switzerland, Norway- Bloomberg News
India eyes $100 billion investment deal with Switzerland, Norway- Bloomberg News
Source: Reuters
2024-02-08 09:25:21 am
Indian edtech firm Byju`s to raise funds at 90% valuation cut - Bloomberg News Embattled Indian edtech startup Byju's is looking to raise more than $100 million from existing stakeholders but at a steep 90% discount to its $22 billion valuation in its last funding round in 2022, Bloomberg News reported on Tuesday. Byju's, facing a host of legal and financial woes, is looking to sell fresh shares, including to founder Byju Raveendran, to raise funds to pay vendors and stabilise its business, Bloomberg reported, citing people familiar with the matter. The pr...
Indian edtech firm Byju`s to raise funds at 90% valuation cut - Bloomberg News
Indian edtech firm Byju`s to raise funds at 90% valuation cut - Bloomberg News
Source: Reuters
2024-01-23 03:05:18 pm
Sony scraps $10 billion India merger talks with Zee Entertainment  After two years of negotiations, Japan's Sony on Monday terminated a $10 billion merger of their India operations with Zee Entertainment. Here is a timeline of some key moments in the negotiations: September 22, 2021 - Zee Entertainment enters into merger talks with Sony. The company's current CEO Punit Goenka was slated to become the CEO and managing director of the new entity. December 22, 2021 - Sony and Zee sign definitive agreements to form a merged entity. Augu...
Sony scraps $10 billion India merger talks with Zee Entertainment
Sony scraps $10 billion India merger talks with Zee Entertainment
Source: Reuters
2024-01-22 09:37:04 am
Apple to merge Siri quality control team in San Diego to one in Texas Apple is going to reportedly combine its Siri quality control team of 121 employees in San Diego with the one in Austin, Texas. Those who choose not to move could be let go on April 26, reports Bloomberg. An Apple spokesperson confirmed that the Siri quality control team will “have the opportunity to continue their role with Apple in Austin.” The company reportedly told employees they can apply for other jobs within the company. However, some employees doubt they’re...
Apple to merge Siri quality control team in San Diego to one in Texas
Apple to merge Siri quality control team in San Diego to one in Texas
Source: IANS
2024-01-15 11:44:38 am
India plans to lower budget gap by at least 50 bps, raise capital spending as much as 20% in FY25 India is planning to lower its budget deficit by at least 50 basis points in 2024/25 from this year's target of 5.9% of gross domestic product (GDP), while also looking to raise capital spending by as much as 20%, two government officials said. Shrinking the fiscal deficit and yet at the same time increasing capital spending will depend on an increase in revenues and efforts to curb subsidies, said Devendra Pant, an economist at India Ratings. Moves to cut welfare spending and subsi...
India plans to lower budget gap by at least 50 bps, raise capital spending as much as 20% in FY25
India plans to lower budget gap by at least 50 bps, raise capital spending as much as 20% in FY25
Source: Reuters
2024-01-11 11:50:51 am
After JP Morgan, Bloomberg too starts move to put India government bonds on its global index  Government of India bonds are likely to get a further boost with global financial advisory firm Bloomberg, proposing their inclusion in its index, a development that comes close on the heels of JPMorgan’s decision to include these bonds in its global index from June 2024. "Following client feedback received during the Bloomberg 2023 Fixed Income Index Advisory Councils, Bloomberg Index Services Limited (BISL) is launching a consultation to solicit feedback on the proposed ...
After JP Morgan, Bloomberg too starts move to put India government bonds on its global index
After JP Morgan, Bloomberg too starts move to put India government bonds on its global index
Source: IANS
2024-01-09 09:45:26 am
Indian bonds proposed to be included in Bloomberg Emerging Markets index Bloomberg Index Services Ltd (BISL) is launching a consultation to solicit feedback on the proposed inclusion of the India Fully Accessible Route (FAR) bonds in the Bloomberg Emerging Market (EM) Local Currency Index. Under the proposal, inclusion of India FAR bonds in the Bloomberg EM Local Currency Indices is to be phased in over a 5-month period starting in September 2024. As a result, the Indian FAR bonds will be included in the EM Local Currency indices with an initial weight of 20...
Indian bonds proposed to be included in Bloomberg Emerging Markets index
Indian bonds proposed to be included in Bloomberg Emerging Markets index
Source: IANS
2024-01-09 09:15:58 am
International Solar Alliance says global facility to fund renewable energy projects to receive $35 mn The International Solar Alliance (ISA) on Tuesday announced that the Global Solar Facility (GSF), a payment guarantee fund formed by it to stimulate investments into solar power projects, is set to receive a capital contribution of $35 million. The Indian government is considering a $25 million investment as capital contribution in the GSF in addition to $10 million coming from the ISA. Bloomberg Philanthropies and CIFF have also committed their support to the GSF, which is designed to ...
International Solar Alliance says global facility to fund renewable energy projects to receive $35 mn
International Solar Alliance says global facility to fund renewable energy projects to receive $35 mn
Source: IANS
2023-11-01 10:33:36 am
Siemens Energy weighs sale of stake in Indian firm to Siemens Siemens Energy is considering selling a part of its 24% stake in Indian-listed Siemens Ltd to former parent Siemens AG to shore up its balance sheet, two people familiar with the matter said. The stake is currently worth around $3.4 billion and a partial sale would be a quick way for the German maker of wind and gas turbines to strengthen its capital base as talks with Berlin and Siemens over guarantees for performance bonds continue. Shares in Siemens Ltd were down around 4% at 0512 GM...
Siemens Energy weighs sale of stake in Indian firm to Siemens
Siemens Energy weighs sale of stake in Indian firm to Siemens
Source: Reuters
2023-10-31 11:18:49 am
India`s Adani Group to raise $4 billion to fund green hydrogen plans India's Adani Group is looking to raise as much as $4 billion to fund its green hydrogen plans, Bloomberg News reported on Thursday. Adani Enterprises' unit Adani New Industries, which is in early-stage discussions with several lenders, will raise the money from domestic and international banks, the report said, citing people familiar with the matter. The billionaire Gautam Adani-controlled Adani Group did not immediately respond to Reuters' request for comment. In Septem...
India`s Adani Group to raise $4 billion to fund green hydrogen plans
India`s Adani Group to raise $4 billion to fund green hydrogen plans
Source: Reuters
2023-10-27 09:15:54 am
Reliance nears deal to buy Disney`s India business Disney is nearing a deal to sell its India operations to Reliance Industries, the Mukesh Ambani-controlled conglomerate whose streaming platform's success has weighed on the U.S. company's business, Bloomberg News reported on Monday.Disney may sell a controlling stake in the Disney Star business, which it values at around $10 billion, rather than piecemeal transactions, Bloomberg reported, citing sources familiar with the matter.However Reliance values the assets at between $7 billion and $8 ...
Reliance nears deal to buy Disney`s India business
Reliance nears deal to buy Disney`s India business
Source: Reuters
2023-10-23 04:48:13 pm
Small-cap distillery shines spotlight on India`s growing power in the world of whiskey A small-cap distillery, whose shares have nearly quadrupled this year, is helping shine a spotlight on India's growing power in the world of whiskey, as a producer as well as a consumer, according to a media report.Piccadily Agro Industries Ltd has surged by its daily limit in two sessions this week after its single-malt Indri Diwali Collector's Edition won top prize at the Whiskies of the World Awards. The stock is now up 292 per cent so far in 2023 with the push from the result of the annua...
Small-cap distillery shines spotlight on India`s growing power in the world of whiskey
Small-cap distillery shines spotlight on India`s growing power in the world of whiskey
Source: IANS
2023-10-07 09:32:44 am
India`s Oyo in talks with Apollo to refinance $660 million loan Softbank-backed India's Oyo Hotels and Homes is in talks to refinance a $660 million loan with Apollo Management Inc after a delay in its initial public offering, Bloomberg News reported on Thursday, citing people familiar with the matter.The hotel aggregator is seeking to extend the maturity of the loan to five years, compared with an existing 2026 deadline, the report said, adding that a decision could be reached as early as next month."We regularly get approached for cheaper financing opti...
India`s Oyo in talks with Apollo to refinance $660 million loan
India`s Oyo in talks with Apollo to refinance $660 million loan
Source: Reuters
2023-10-06 09:45:36 am
India not planning tax changes to aid bond inclusion on global indexes: Government source ?India is not planning any changes to its tax regime to help Indian government bonds be included on other?global?indices, a government source said on Wednesday.JPMorgan's decision last week to include India in its emerging market bond index from June 2024 is likely to bring in around $25 billion, as per analysts' estimates. Fellow index provider FTSE Russell, which has India on the watchlist for inclusion, has a review scheduled later this week. The Bloomberg indexes do not include India eith...
India not planning tax changes to aid bond inclusion on global indexes: Government source
India not planning tax changes to aid bond inclusion on global indexes: Government source
Source: Reuters
2023-09-27 03:05:31 pm