MUMBAI India's next central bank chief faces a tricky task completing a bank clean-up spearheaded by outgoing Governor Raghuram Rajan, while coping with the demands of a government that is desperate to see a revival in lending to businesses.
NEW DELHI The government has narrowed its list of candidates to become the next governor of the Reserve Bank of India to four, a senior official told Reuters, as it set in motion the process of naming a new Monetary Policy Committee (MPC).
NEW YORK Britain's shock vote to leave the European Union roiled global markets for a second day on Monday, hammering U.S. and European banks, lifting bond and gold prices, and dragging the British pound to a 31-year low.
LONDON Retail gold investors are booking profit on metal bought to hedge against Thursday's decision by British voters to leave the European Union, while an initial surge in buying slackened off on Monday.
NEW DELHI The government on Monday kicked off the process of setting up a new monetary policy committee after it notified key amendments to a law governing the Reserve Bank of India.
LONDON British financial markets were engulfed in further turmoil on Monday, with 10-year government borrowing costs sinking below 1 percent for the first time and sterling hitting a 31-year low against the dollar as investors bet Britain's vote to leave the EU will trigger a Bank of England rate cut.
NEW YORK Oil prices fell about 2 percent on Monday, weighed by a rallying dollar and continued market uncertainty over Britain's shock vote to exit the European Union.
LONDON The world's biggest banks were openly considering a fall in sterling to $1.20 on Monday, as fears of recession and banking trauma after Britain's vote to leave the European Union threatened a return to the dark days of the early 1980s.
MUMBAI National Stock Exchange (NSE), India's biggest bourse, will file for a domestic initial public offering (IPO) by January, and will also pursue one abroad, potentially settling a long tussle with some foreign shareholders over the timing of a listing.
NEW DELHI Reliance Industries Ltd, owner of the world's biggest refining complex, imported 13.2 percent less oil in May compared with a year earlier, as it shut a crude unit at its 580,000-barrel-per-day (bpd) refinery for three weeks, according to tanker arrival data from trade sources and ship-tracking services on the Thomson Reuters terminal.