NEW DELHI (Reuters) – India’s state-run Bharat Petroleum Corp said it had signed a preliminary agreement with Brazil’s national oil company Petrobras to help it diversify its crude oil sourcing. Indian state refiners rarely buy Brazilian oil. The Memorandum of Understanding (MoU) was signed by BPCL Chairman Arun Kumar Singh and Petrobras CEO Caio Paes …
India’s BPCL signs MoU with Petrobras to diversify oil sourcing Read More »
By Yuvraj Malik (Reuters) – India’s Byju’s has paid 19 billion rupees ($234 million) to Blackstone Inc, settling its dues owed to the private-equity firm as part of a $950 million deal to buy Aakash Educational, a source directly involved with the deal said on Friday. The payment made on Thursday was for a stake …
Byju’s pays $234 million to Blackstone related to Aakash deal – source Read More »
BENGALURU (Reuters) -India’s Yes Bank Ltd said on Friday the Reserve Bank of India would allow it to exit a reconstruction scheme put in place more than two years ago only after the share lock-in period ends. The bank said in a regulatory filing the lock-in period for shares of existing shareholders would end in …
India’s Yes Bank to exit reconstruction scheme after lock-in ends Read More »
By Kavya Guduru (Reuters) – Gold prices dropped over 1% to their lowest since April 2020 on Friday, hurt by an unrelenting rally in the U.S. dollar and Treasury yields as the Federal Reserve adopts a more aggressive stance to check surging inflation. Spot gold was down 1.4% at $1,646.89 per ounce at 12:29 p.m. …
Gold drops to 2-1/2-year lows as dollar extends rally, yields firm Read More »
By M. Sriram, Aditya Kalra and Aditi Shah MUMBAI (Reuters) – Blackstone Inc will sell a stake worth up to $400 million in Embassy Office Parks REIT, India’s biggest real estate investment trust, via Indian stock exchange block deals, three sources familiar with the matter told Reuters. Abu Dhabi’s sovereign wealth fund, one of the …
By Sethuraman N R BENGALURU (Reuters) – Indian shares fell nearly 2% on Friday on fears an aggressive U.S. Federal Reserve would trigger foreign fund outflows, while financial stocks slid after the central bank barred Mahindra Group’s financial services arm from using third-party agents to recover loans. The NSE Nifty 50 index fell 1.72% at …
Indian shares fall nearly 2% on fears of foreign funds outflow Read More »
MUMBAI (Reuters) – The RBI may slow its intervention to protect the rupee during October-March, and allow the currency to move in alignment with global trends, Kotak Mahindra Bank said on Friday. The rupee dropped to a record low of 81.2250 to the dollar on Friday, prompting the RBI to sell dollars to prop up …
India cenbank may slow intervention in Oct-Mar to allow weakness in rupee -Kotak Bank Read More »
By Swati Bhat and Nupur Anand MUMBAI (Reuters) – Indian banks may be forced to compete harder to boost deposits amid tightening liquidity and rising credit demand ahead of the festive season, analysts warned. Indian banking system liquidity slipped into deficit for the first time in nearly 40 months earlier this week, prompting the Reserve …
Tightening liquidity may force Indian banks to compete harder for deposits Read More »
AGRA, India (Reuters) -India’s palm oil imports could jump 23% in 2022/23 to an eight-year high of 9.5 million tonnes, as a rebound in consumption and competitive prices prompt refiners to increase purchases, the country’s top palm oil buyer said. “Palm is very attractive as prices are under pressure because of stocks,” Sanjeev Asthana, chief …
India’s top palm oil buyer expects 23% jump in imports Read More »
MUMBAI (Reuters) – A part of India’s overnight indexed swaps curve, a gauge for future policy rates, may steepen as investors are pricing in a more hawkish-than-expected central bank stance, BofA Securities said on Friday. BofA expects the Reserve Bank of India to raise rates by 25-35 basis on Sept. 30 and reckons the policy …
India OIS curve may steepen on overcooked rate hike bets – BofA Read More »
