By Karen Brettell NEW YORK (Reuters) – The dollar dipped against a basket of major currencies and sterling jumped on Monday after Britain’s new finance minister ditched most of the government’s “mini-budget”, while better than expected earnings from Bank of America helped to boost risk appetite. Investors are also focused on whether the Bank of …
Dollar dips as UK budget U-turn improves market sentiment Read More »
By Nidhi Verma NEW DELHI (Reuters) – India’s Oil and Natural Gas Corp plans to take a stake in the new Russian entity that will manage the Sakhalin 1 project in the far east as it seeks to retain a 20% share in the asset, three sources familiar with the matter said. Russian President Vladimir …
Exclusive: India’s ONGC eyes stake in Russian entity managing Sakhalin 1 – sources Read More »
By Nidhi Verma MOSCOW/NEW DELHI (Reuters) -Russia’s biggest oil exporter Rosneft has expanded its tanker chartering business to ease oil shipments for buyers amid looming Western sanctions on insurance of Russian oil shipments, three sources familiar with the matter said. Previously, state-controlled Rosneft, which produces more than 40% of Russian oil, would sell its oil …
Rosneft moves into tanker chartering as EU ban looms Read More »
By Mayank Bhardwaj NEW DELHI (Reuters) – India is expected to produce around 36.5 million tonnes of sugar in the new season that began on Oct. 1, a leading industry body said on Monday, up 2% from the previous season. India, the world’s biggest sugar producer and the second biggest exporter behind Brazil, churned out …
India’s 2022-23 sugar output seen up 2%, exports at 9 million tonnes Read More »
By Rama Venkat BENGALURU (Reuters) – Indian shares ended higher for a second straight session on Monday, lifted by banking stocks, although gains were capped by losses in metals. The NSE Nifty 50 index was 0.73% higher at 17,311.80 at close, and the S&P BSE Sensex advanced 0.85% to 58,410.98. “Rallies triggered by market positioning …
Indian shares up for a second straight session as bank stocks rise Read More »
BENGALURU (Reuters) – Indian telecom service provider Reliance Jio has chosen Nokia as a major supplier, the Finnish telecom equipment maker said on Monday, as India’s biggest mobile carrier gears up to expand next-generation wireless services across the country. Nokia will supply Reliance Jio, which has more than 420 million customers, with 5G radio access …
India’s Reliance Jio selects Nokia as equipment provider in 5G push Read More »
By Nimesh Vora MUMBAI (Reuters) – The Reserve Bank of India’s (RBI) forex intervention through forward dollar sales instead of an on-spot basis may undermine its effort to boost the rupee, analysts said. Since last week, the central bank has been intervening in the over-the-counter forward market that lifted the rupee from record lows of …
India cenbank’s FX intervention via forwards may hamper rupee’s defence -analysts Read More »
BENGALURU (Reuters) -Indian cement maker ACC Ltd on Monday reported a surprise loss for the September-quarter, hurt by a surge in fuel and power expenses. The company’s standalone loss was 910.9 million Indian rupees ($11.05 million) for the three months ended Sept. 30, compared with a profit of 4.49 billion rupees a year ago. “We …
India’s ACC reports surprise quarterly loss as expenses surge Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee on Monday held a narrow trading range once again as the Reserve Bank of India’s likely intervention last week discourages speculators. The rupee opened unchanged at 82.3500 per U.S. dollar and was trading at 82.3475 by 0515 GMT. Since hitting a record low of 82.6825 last …
Rupee in narrow range as RBI’s intervention reins in speculation Read More »
By Dharamraj Lalit Dhutia and Nimesh Vora MUMBAI (Reuters) – The Indian rupee may edge towards record lows but will get some support from a less hawkish-than-expected tone in minutes of the central bank’s latest policy meeting, while government bond yields are expected to rise, analysts said. The Reserve Bank of India’s monetary policy committee …
Indian bond yields seen rising, rupee may test record lows Read More »
