NEW DELHI (Reuters) – India will announce a quota for sugar exports “very soon” for the new season beginning Oct. 1, Food Secretary Sudhanshu Pandey said on Wednesday. Reuters reported last week that India was set to allow exports of 5 million tonnes of sugar in the first tranche for the new marketing year. (Reporting …
India to announce 2022/23 sugar export quota ‘very soon’ Read More »
NEW DELHI (Reuters) -India is likely to extend its free food programme for the poor by three to six months, CNBC TV18 reported on Wednesday, a move that could cost the government $10 billion more and make it challenging for it to meet its fiscal deficit target. India has spent nearly $43 billion since April …
India govt likely to extend its free food programme for poor – CNBC TV18 Read More »
MUMBAI (Reuters) – Indian banks are likely to see a 90 basis points fall in gross non-performing assets (NPAs) to 5% in this fiscal year to March and further improve to 4% by end of March 2024, rating agency Crisil said on Wednesday. The key indicator of banks’ asset quality is likely to improve, “riding …
Indian banks see bad loans falling to decade low of 4% by FY24 end Read More »
MUMBAI (Reuters) – India’s banking system liquidity has slipped into deficit for the first time in nearly 40 months, according to the Reserve Bank of India. The RBI infused 218 billion Indian rupees ($2.73 billion)into banking system on Tuesday, the biggest since May 2019. Overnight rates continue to stay elevated, with one-day call money rate …
India’s banking system liquidity slips into deficit – RBI Read More »
By Aftab Ahmed NEW DELHI (Reuters) – India’s government is in no hurry to push inflation – now hovering near 7% and eight-year highs – back to the central bank’s 4% medium-term target, for fear that aggressive rate hikes could hurt economic growth, two sources with direct knowledge of the matter said. Surging prices are …
Exclusive-India govt ‘in no hurry’ on medium-term inflation target – sources Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar ascended close to a two-decade high on Tuesday, as investors geared up for another aggressive interest rate hike from the Federal Reserve, the main focus in a week packed with central bank meetings. The Fed started a two-day meeting on Tuesday, with rate futures traders pricing …
U.S. dollar advances before Fed decision; Swedish hike fails to boost crown Read More »
By David Gaffen NEW YORK (Reuters) -Oil prices dipped on Tuesday, following other risk assets lower, as the dollar stayed strong and investors anticipated more central bank interest-rate hikes designed to quell inflation. The U.S. Federal Reserve is likely to raise interest rates by another 75 basis points on Wednesday to rein in inflation. Those …
Oil prices down, investors expect big Fed rate hike Read More »
By Jane Lanhee Lee and Joseph White (Reuters) – Chip giant Nvidia Corp on Tuesday unveiled its new computing platform called DRIVE Thor that would centralize autonomous and assisted driving as well as other digital functions including in-car entertainment. Nvidia, a big player in the gaming chip and artificial intelligence (AI) market, has been making …
Chipmaker Nvidia launches new system for autonomous driving Read More »
By Uditha Jayasinghe COLOMBO (Reuters) -India said on Tuesday it had begun talks with Sri Lanka on restructuring its debt and promised to support the crisis-hit neighbour mainly through long-term investments after providing nearly $4 billion of financial aid. Sri Lanka, a tourism-dependent South Asian country of 22 million, is struggling with its worst economic …
India starts debt-restructuring talks with Sri Lanka, vows support Read More »
By Aditya Kalra and Munsif Vengattil NEW DELHI (Reuters) -Indian online gaming platform WinZO has sued Google to stop the tech giant from allowing real-money games for fantasy sports and rummy on its platform, saying that Google’s doing so is discriminatory, a legal filing seen by Reuters showed. WinZO’s app offers real-money games in those …
India’s WinZO sues Google to stop new gaming policy, calls it discriminatory Read More »
