MUMBAI (Reuters) – India’s headline retail inflation may ease below 6% by the fourth quarter of this financial year, bringing an end to the current cycle of rate hikes, analysts said over the weekend. Following the release of minutes from the central bank’s monetary policy committee on Friday, analysts said the Reserve Bank of India …
India’s headline inflation may ease below 6% by March -analysts Read More »
MUMBAI (Reuters) – India has sufficient stocks of wheat and there is no plan to import the grain, the government clarified on Sunday after some media outlets reported New Delhi was planning to import wheat. Local wheat prices jumped to a record 24,453 rupees ($305.97) per tonne on Friday. That was up nearly 16% from …
By Ashitha Shivaprasad (Reuters) – Gold prices slipped for a fifth consecutive session on Friday, in its longest losing run since November last year, as the bullion’s appeal waned with a stronger dollar and more U.S. interest rate hikes on the horizon. Spot gold dropped 0.6% to $1,748.58 per ounce by 1:47 p.m. ET (1747 …
Dollar strength sets gold on its longest losing streak since November Read More »
BENGALURU (Reuters) -Adani Power Ltd said on Friday it will buy thermal power plant operator DB Power for an enterprise value of 70.17 billion rupees ($879.14 million) as India’s largest private thermal power producer looks to expand operations. DB Power owns and operates a thermal power plant in the central Indian state of Chhattisgarh and …
India’s Adani Power to buy DB Power for $879 million Read More »
By Tanvi Mehta BENGALURU (Reuters) -Indian shares ended lower on Friday, with the benchmark Nifty 50 index snapping an eight-session winning streak, as investors locked in profits after the sharp rally. The NSE Nifty 50 index closed down 1.1% at 17,758.45, recording its biggest percentage fall in nearly two months. The S&P BSE Sensex dropped …
MUMBAI (Reuters) – The Indian rupee slipped against the U.S. currency on Friday as the dollar got a boost from U.S. labour data and hawkish comments from Federal Reserve officials. The rupee was trading at 79.7350 per U.S. dollar by 0436 GMT, down from 79.6725 in the previous session. It opened at 79.7575 and since …
Indian rupee pressured by strong dollar, RBI support eyed Read More »
(Reuters) -India on Thursday raised fuel export taxes despite only cutting them a little over two weeks ago, and slashed a windfall tax on locally produced crude oil, according to a government notification. India increased export taxes on jet fuel to 2 rupees per litre from zero and diesel to 7 rupees per litre from …
India hikes taxes on fuel exports, slashes windfall tax on local crude Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices eased on Thursday under pressure from a firmer dollar although losses were capped by a dip in Treasury yields, while investors looked for more economic cues that could influence rate hikes. Spot gold fell 0.2% to $1,758.42 per ounce by 2:18 p.m. EDT (1818 GMT), having slipped to …
Gold ticks lower as dollar strength dulls appeal Read More »
By Gopal Sharma KATHMANDU (Reuters) – Nepal has signed a pact with an Indian company NHPC to develop a hydroelectric plant in the west of the nation years after a Chinese firm backed out, officials said on Thursday. Nepal has opened its rivers, which it sees as having a combined potential to generate more than …
Indian firm to develop Nepal hydropower plant left by China Read More »
By Swati Bhat MUMBAI (Reuters) – Inflation in India may still require a monetary policy response going forward as it remains above the target range even though it has eased in recent months, the Reserve Bank of India said on Thursday. “In India, supply conditions are improving, with the recent monsoon pick-up, strong momentum in …
Indian inflation still elevated, may warrant policy response-RBI bulletin Read More »
