A look at the day ahead in European and global markets from Anshuman Daga Recession worries are once again haunting markets. With euro zone business activity contracting for a second straight month in August, though slightly less than expected, investors are not in any mood to price in a potential upside. Surveys on Tuesday showed …
By Laila Kearney NEW YORK (Reuters) -Oil prices surged by nearly 4% on Tuesday after Saudi Arabia floated the idea of OPEC+ output cuts to support prices in the case of returning Iranian crude and with the prospect of a drop in U.S. inventories. The Saudi energy minister said OPEC+ had the means to deal …
Oil jumps nearly 4% on possible OPEC+ supply tightening Read More »
By John McCrank NEW YORK (Reuters) -The dollar edged back from a fresh two-decade high against the euro on Tuesday after data showed U.S. private sector activity was weaker than expected in August, prompting bets the Federal Reserve may be less aggressive in its rate hiking cycle. Against a basket of six major currencies, the …
Dollar slides as private sector activity data misses expectations Read More »
By Ashitha Shivaprasad (Reuters) – Gold rose on Tuesday after six straight sessions of losses as the dollar and Treasury yields dropped following weak U.S. business activity data. Spot gold was up 0.7% at $1,747.00 per ounce by 1:43 p.m. ET (1743 GMT). Prices slipped in the last six sessions and hit $1,727.01 on Monday, …
Gold rises as dollar, Treasury yields fall after poor U.S. data Read More »
BENGALURU (Reuters) -Chennai Petroleum Corp Ltd said on Tuesday it has formed a joint venture with its parent company Indian Oil Corp and others to build a 9 MMTPA refinery at a cost of 315.80 billion rupees ($3.95 billion) in southern Tamil Nadu state. CPCL, in which National Iranian Oil Company has about 15% stake, …
India’s Chennai Petroleum Corp forms joint venture for $4 billion refinery Read More »
By Sethuraman N R and Chris Thomas BENGALURU (Reuters) -Indian billionaire Gautam Adani’s conglomerate on Tuesday said it seeks to control a majority stake in the popular New Delhi Television (NDTV), a move the TV news group said was executed without its consent. A unit of the Adani Group said it had used financial rights …
Indian billionaire Adani seeks to control NDTV; media group says move without consent Read More »
By Yuvraj Malik (Reuters) – India’s Alteria Capital Advisors is in talks with investors to raise up to 35 billion rupees ($438 million) for its third debt fund, according to internal documents reviewed by Reuters. The discussions, which come less than a year after Alteria raised 18.2 billion rupees for its second fund, underscore the …
India’s Alteria Capital in talks to raise up to $438 million for third fund – sources Read More »
(Reuters) – Apple Inc plans to start making the iPhone 14 in India about two months after its release out of China, in a move that will narrow the gap from the typical six to nine months for previous launches, Bloomberg News reported on Tuesday. The company has been working with suppliers to ramp up …
Apple plans to cut iPhone 14 production lag between China, India – Bloomberg Read More »
BENGALURU (Reuters) – Indian low-cost carrier SpiceJet Ltd is looking to raise funds worth 20 billion rupees ($250.53 million), television channel ET Now tweeted on Tuesday. Shares of the airline rose as much as 6% after the tweet, but pared some of the gains and were trading at 46.80 rupees as of 0907 GMT. SpiceJet …
India’s SpiceJet plans to raise funds worth $251 million – ET Now Read More »
By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee is likely to strengthen to 78.50-79.50 against the dollar by March 2023, as commodity prices stabilise globally and improving domestic fundamentals lure back foreign portfolio inflows, the country’s top private lender HDFC Bank said. The rupee has has weakened 7.5% so far in the 2022 calendar …
India’s rupee seen firming to 78.50-79.50 by fiscal year-end – HDFC Bank Read More »
