By Stephanie Kelly NEW YORK (Reuters) – Oil prices dropped about 4% on Monday as weak manufacturing data in several countries weighed on the demand outlook while investors braced for this week’s meeting of OPEC and its producer allies on supply. Brent crude futures fell $3.94, or 3.8%, to settle at $100.03 a barrel, having …
Oil sinks about 4% after weak factory data sparks demand concerns Read More »
By Arundhati Sarkar (Reuters) – Gold neared a one-month high on Monday on the back of a decline in the U.S. dollar, with investors awaiting economic data that could influence the path of Federal Reserve policy tightening. Spot gold was up 0.2% at $1,768.44 per ounce by 2:31 p.m. EDT (1831 GMT), having earlier hit …
Gold hits near one-month high on dollar weakness Read More »
NEW DELHI(Reuters) – Reliance Industries’ Jio emerged as the biggest spender in India’s $19 billion 5G spectrum auction, with the top telco player winning airwaves worth $11 billion as the world’s no.2 mobile market gears up for the high-speed wireless network. India’s government aims to begin the rollout of 5G – which it says can …
Reliance Jio top spender in India’s $19 billion 5G spectrum auction Read More »
NEW DELHI (Reuters) – India will not slip into recession or stagflation, Finance Minister Nirmala Sitharaman told parliament on Monday, after opposition parties raised concerns about rising inflation and its impact on the economy. India’s inflation has remained above its central bank’s upper tolerance limit of 6% since January, fuelled by rising commodity prices and …
India will not slip into recession, stagflation – minister Read More »
By Aditi Shah NEW DELHI (Reuters) – India has asked airlines to increase their engineering-related capabilities at all base and transit stations, the junior minister for civil aviation told lawmakers on Monday, after a series of safety-related incidents in recent weeks. Airlines have also been asked to take “appropriate mitigation action and greater internal surveillance …
India asks airlines to boost engineering capabilities after series of safety incidents Read More »
By Anushka Trivedi MUMBAI (Reuters) -The Indian rupee closed higher on Monday, boosted by equity inflows and the struggle of the dollar amid expectations the Federal Reserve will not deliver large rate hikes, while the local bond yield hit a nearly three-month low. The partially convertible rupee ended at 79.02 against the dollar, its highest …
Indian rupee firms as dollar slips on recession fears; yields lowest since May Read More »
By Nupur Anand MUMBAI (Reuters) – Indian private lender Yes Bank’s $1.1 billion capital raise will help strengthen its balance sheet and provide it with growth capital, but it may not be an easy road ahead for the bank as the focus shifts to accelerating growth, say analysts. On Friday Yes Bank announced that it …
Indian lender Yes Bank’s capital raise welcome, but challenges remain – analysts Read More »
By Nidhi Verma NEW DELHI (Reuters) – Gasoline and gasoil sales by Indian state refiners in July fell from a month earlier as monsoon rains restricted mobility and construction work while high inflation curtailed overall demand for goods, preliminary sales data shows. Fuel demand in India, the world’s third biggest oil importer and consumer, typically …
BENGALURU (Reuters) -India’s SpiceJet said on Monday its flight operations remained normal and on schedule, days after the aviation regulator ordered the low-cost airline to slash its approved fleet to 50% this summer for eight weeks citing safety snags. The Director General of Civil Aviation (DGCA) said on Wednesday that any increase in number of …
India’s SpiceJet says all flight operations normal Read More »
By Rama Venkat BENGALURU (Reuters) -Indian shares kicked off August trading on a positive note on Monday, after having logged their best gains since November 2020 last month, led by sharp advances in automakers. The NSE Nifty 50 index rose 0.6% to 17,261.05, as of 0500 GMT, and the S&P BSE Sensex climbed 0.55% to …
India shares up on auto rally ahead of sales data Read More »
