MUMBAI (Reuters) – India’s Adani Group, owned by Asia’s richest man Gautam Adani, will invest 600 billion Indian rupees ($7.39 billion) over the next 10 years in the mineral-rich state of Odisha, a top executive said on Thursday. The group will commission a liquefied natural gas (LNG) terminal with 5 million tons of capacity in …
India’s Adani Group to invest $7.39 billion in eastern state of Odisha Read More »
By Seher Dareen (Reuters) – Gold prices jumped 2% on Thursday to climb above the key $1,800 per ounce pivot, as the dollar weakened on prospects of slower rate hikes from the Federal Reserve and signs of cooling U.S. inflation. Spot gold rose 1.6% to $1,797.35 per ounce by 10:25 a.m. ET (1525 GMT), reaching …
Gold soars 2% as Fed rate hike slowdown prospects hurt dollar Read More »
BENGALURU (Reuters) – SoftBank Group plans to sell a 5% stake in India’s PB Fintech Ltd, the parent of online insurance aggregator Policybazaar, through a block deal, local media channel CNBC-TV18 reported on Thursday, citing sources. The block deal on Friday could be at a base price of 440 rupees per share, CNBC-TV18 said in …
SoftBank plans to sell 5% stake in India’s PB Fintech via block deal – report Read More »
NEW DELHI (Reuters) – India’s Essar Group plans to set up a 400 billion rupee ($4.92 billion) petrochemical complex in the eastern state of Odisha in a tie-up with a global player, it said in a statement on Thursday. The oil to petrochemical complex will have an annual capacity of 7.5 million tonnes, it said. …
India’s Essar Group plans $4.9 billion petrochemical complex in Odisha Read More »
By Sumit Khanna AHMEDABAD, India (Reuters) – Indian Prime Minister Narendra Modi’s home state of Gujarat began voting on Thursday with his Hindu nationalist party expected to win a seventh straight term, but any unexpected slip could herald a tighter contest in national polls due by 2024. The Bharatiya Janata Party (BJP) has not lost …
Modi’s home state Gujarat votes, seen as easy mid-term test for India’s leader Read More »
(This story has been refiled to remove the reference to Eicher Motors sales in paragraph 11) BENGALURU (Reuters) – Indian shares extended their rally for eighth straight session on Thursday, after U.S. Federal Reserve Chair Jerome Powell’s remarks boosted bets of a slowdown in the pace of interest rate hikes. The S&P BSE Sensex rose …
Indian shares rally for eighth day boosted by Powell’s comments Read More »
MUMBAI (Reuters) – The fourth tranche of India’s first corporate bond exchange-traded fund (ETF) is set to be launched this week, Edelweiss Mutual Fund, which manages the ETF, said on Thursday. The new fund offer of the ETF, which invests only in AAA-rated corporate bonds issued by state-run companies, will open on Dec. 2 and …
India to launch fourth tranche of BHARAT Bond ETF on Friday Read More »
By Shaloo Shrivastava BENGALURU (Reuters) – The Reserve Bank of India will raise interest rates by a smaller 35 basis points to 6.25% in December, according to economists polled by Reuters who expect another modest move up early next year to curb lingering inflation pressures. A strong two-thirds majority said it was still too soon …
RBI seen raising rates by smaller 35bps in Dec, hiking again in early 2023: Reuters poll Read More »
A look at the day ahead in European and global markets from Ankur Banerjee: With a Fed pivot coming in to view, thanks to Jerome Powell, and optimism about China’s reopening prospects, investors have rediscovered their risk appetite, pouring into equities and sending safe-haven U.S. dollar lower. All it took was for Fed Chair Powell …
By Seher Dareen (Reuters) – Gold prices rose over 1% on Wednesday as the non-yielding asset races to end its best month since mid-2020 on slower U.S. rate hike expectations, further reinforced by Federal Reserve Chair Jerome Powell’s comments. The Fed could scale back the pace of its interest rate hikes “as soon as December,” …
Gold jumps 1% as Fed’s Powell says smaller rate hikes on the way Read More »
