Reuters India Business

MUMBAI (Reuters) – The Indian central bank likely sold dollars via state-run banks on Wednesday as rising Treasury yields and mounting risk aversion pushed the rupee to a record low, traders said. The rupee was trading at 81.8675 per U.S. dollar, down from 81.58 in the previous session. The local unit earlier reached a record …

India’s RBI likely sells dollars as surging U.S. yields hold rupee hostage – traders Read More »

BENGALURU (Reuters) -Indian private lender Axis Bank Ltd said on Tuesday it has signed a non-binding term sheet to invest 499-699 million rupees ($6.12-$8.57 million) for a 9.94% stake in Go Digit Life Insurance. The development underscores private lenders’ growing interest in India’s lucrative and largely untapped insurance sector. The country’s biggest private lender HDFC …

India’s Axis Bank looks to buy near 10% stake in Go Digit Life Insurance Read More »

By Karin Strohecker and Jorgelina do Rosario LONDON (Reuters) – The prospect of U.S. interest rates climbing to levels last seen in the run-up to the global financial crisis has cast a fresh pall over emerging economies that have battled to recover from COVID, grappled with rampant inflation and faced capital flight. Many past emerging …

Embattled emerging markets face fresh pain from U.S. rate hikes Read More »

NEW DELHI (Reuters) -India’s Adani Group will invest more than $100 billion over the next decade, most of it in the energy transition business, its Chairman Gautam Adani said on Tuesday, as the ports-to-energy conglomerate accelerates an already aggressive expansion plan. After founding the group in 1988 as a commodities trading business, the 60-year-old has …

India’s Adani Group to invest over $100 billion in next decade Read More »