MUMBAI (Reuters) – The Reserve Bank of India likely sold dollars via state-run banks on Friday after the rupee extended losses to hit a record low, three traders told Reuters. The rupee was last trading at 81.0575 per U.S. dollar, compared with the day’s low of 81.2250 and the previous session’s close of 80.86. “The …
India cenbank likely sells dollars as rupee plumbs record low – traders Read More »
By Rae Wee SINGAPORE (Reuters) – The yen was heading on Friday to its first weekly gain in more than a month after Japanese authorities intervened in markets to support the yen for the first time since 1998, while a towering dollar kept other currencies pinned near multi-year lows. The yen was up about 0.1% …
Yen buoyant after intervention, dollar powers ahead Read More »
BENGALURU (Reuters) -India’s Mahindra and Mahindra Financial Services (MMFSL) said on Friday its monthly vehicle recovery would temporarily fall by about 75%, a day after the country’s central bank directed the company to stop using third-party services for repossessions. The company’s shares tumbled as much as 10% to 201.35 rupees as of 0414 GMT, their biggest …
India’s Mahindra’s lending arm sees vehicle recovery sliding 75% on RBI order Read More »
By Arsh Tushar Mogre BENGALURU (Reuters) – The Reserve Bank of India is set to raise interest rates again next week with a slim majority of economists in a Reuters poll expecting a half-point hike and some others expecting a smaller 35 basis point rise. There was a wide consensus that the RBI will raise …
RBI to raise rates again, slim majority of economists expect 50 bps hike – Reuters poll Read More »
By Sudarshan Varadhan and Aftab Ahmed NEW DELHI (Reuters) – India’s thermal coal imports from Russia are expected to fall for the first time in four months in September, two research consultancies said, potentially resulting in lower revenues for Moscow at a time it is mobilising more troops to fight in Ukraine. Indian consultancy Coalmint …
India’s Russian thermal coal imports set to fall for first time in 4 months Read More »
By Kavya Guduru (Reuters) – Gold prices edged lower in choppy trading on Thursday, pressured by a stronger dollar and higher Treasury yields, while the U.S. Federal Reserve’s hawkish policy stance clouded the outlook for non-yielding bullion. Spot gold was down 0.2% at $1,670 per ounce by 12:23 p.m. EDT (1623 GMT), after shedding more …
Gold subdued on strong dollar, yields; hawkish Fed clouds outlook Read More »
BENGALURU (Reuters) – SoftBank Group-backed Ola is looking to take its e-scooters global, starting with Nepal, as it seeks to tap into a growing international market for electric vehicles The company will expand further into Latin America, ASEAN and the European Union, it said in a statement on Thursday. It has signed a partnership agreement …
India’s Ola Electric ventures abroad, to enter Nepal next quarter Read More »
LONDON (Reuters) – Major central banks have stepped up their fight against runaway inflation, unleashing another 350 basis points of hikes in a pivotal week in which policymakers are determined to show they mean business. The Federal Reserve raised U.S. rates by three-quarters of a percentage point for a third straight time on Wednesday, while …
Central banks unleash 350 basis points more of rate hikes in inflation fight Read More »
By Sheila Dang (Reuters) – Facebook whistleblower Frances Haugen is launching a nonprofit organization that will seek solutions to harms created by social media, she said on Thursday. The former product manager at Facebook, since renamed Meta Platforms, made headlines last year after coming out as the source of thousands of leaked internal documents, which …
Facebook whistleblower launches nonprofit to solve social media harms Read More »
BENGALURU (Reuters) – Shares of Fortis Healthcare sank nearly 20% on Thursday and eyed their biggest slide in nearly 15 years, after reports said India’s top court ordered the continuation of a stay on IHH Healthcare’s open offer for the company. The Supreme Court also remanded the issue of the Fortis-IHH deal to the Delhi …
India’s Fortis sinks 20% as top court extends stay on IHH open offer Read More »
