MUMBAI/KOLKATA, India State Bank of India (SBI) reported its sharpest quarterly profit drop in five years on Friday but cheered investors by saying that fewer than feared of its loans risked turning sour.
NEW YORK Data on inflation and employment, two of the economic indicators most important to a "data-dependent" U.S. Federal Reserve are expected next week.
CAMBRIDGE, Mass. The Federal Reserve should raise interest rates "in the coming months" if the economy picks up as expected and jobs continue to be generated, U.S. central bank chief Janet Yellen said on Friday, bolstering the case for a rate increase in June or July.
India's junior Finance Minister Jayant Sinha said on Friday the country would have 8 to 10 "very competitive" state-owned banks after an ongoing consolidation phase, a sharp reduction from the 27 currently in existence.
MUMBAI/NEW DELHI Indian companies are posting their best earnings results since Prime Minister Narendra Modi swept to power two years ago, giving the clearest sign yet that India's fast, but patchy, economic growth is becoming more broad-based.
MUMBAI India's biggest conglomerate Tata Group launched an e-commerce venture on Friday, as it seeks to cash in on rising purchasing power in a market dominated by deep-pocketed international retailers and startups backed by global tech investors.
MUMBAI State-run Canara Bank reported on Friday a fourth-quarter net loss of 39.05 billion rupees ($583 million) as provisions, including those to cover sour debt, jumped six times.
NEW DELHI/MUMBAI India has kept the price that sugar mills must pay to cane growers, for the season starting October 2016, unchanged at 230 rupees per 100 kg, trade and government sources said, as the world's biggest consumer tries to arrest the rising prices of the sweetener.
Wall Street rose on Friday and capped off its strongest week since March after U.S. Federal Reserve Chair Janet Yellen said an interest-rate hike would likely be appropriate "in the coming months."
NEW YORK Oil prices dipped for a second day in a row on Friday as some investors took profit on a surge to seven-month highs while others worried about higher production with the market hovering near $50 a barrel.