Reuters India Business

By Indradip Ghosh BENGALURU (Reuters) – India’s factory activity expanded at its quickest pace in eight months in July, driven by solid growth in new orders and output as demand continued to improve on the back of easing price pressures, a private survey showed. The survey results suggested the Indian economy has remained resilient, at …

India’s factory growth hits 8-month high as easing price pressures lift demand Read More »

(Reuters) – Executives from Tullow Oil held talks with India’s ONGC Videsh Ltd in Nairobi this week as the London-based firm seeks a strategic investor for its onshore oil project in Kenya, the company said on Saturday. A senior official at Kenya’s Ministry of Petroleum and Mines tweeted earlier this week that ministry officials had …

Tullow Oil in talks with Indian groups over Kenyan project Read More »

NEW DELHI (Reuters) – India had drawn bids totalling about $19 billion for 5G spectrum and the process is likely to continue for the coming few days, telecom minister Ashwini Vaishnaw said on Saturday. Reliance Industries’ Jio, rivals Bharti Airtel and Vodafone Idea, as well as billionaire Gautam Adani’s Adani Enterprises Ltd were all among …

India 5G spectrum auction to continue for few more days – minister Read More »

NEW DELHI (Reuters) – Indian Prime Minister Narendra Modi on Saturday urged state governments to clear their bills and dues to power distribution firms to help ensure stability in the energy sector to meet consumer demands. Modi said state governments must address outstanding dues to distribution companies, which often stretch over several months, threatening financial …

India’s Modi asks states to clear payments to electricity distributors Read More »

NEW DELHI (Reuters) – A Dubai-based lessor of SpiceJet Ltd has asked India’s aviation regulator to deregister three of the budget airline’s planes as SpiceJet struggles with high costs and maintenance challenges. The United Arab Emirates aeronautics firm AWAS did not specify why it was seeking to deregister the three Boeing 737s in Friday’s notification, …

SpiceJet lessor asks Indian regulator to de-register 3 planes Read More »

By Eileen Soreng (Reuters) – Gold bounced to a fresh multi-week peak on Friday with its safe-haven allure getting a fillip as the dollar gave up initial gains following another jump in U.S. inflation, with the current price range also seemingly attracting bids for bullion. Spot gold rose 0.6% to $1,765.76 per ounce by 1:50 …

Gold bounces back as dollar retreats Read More »

(Reuters) – India’s Yes Bank Ltd said on Friday it will sell up to 10% stake to U.S. private equity firms Carlyle Group Inc and Advent International for $1.1 billion. Yes Bank will raise the funds through a combination of about $640 million in shares and about $475 million in share warrants, the private lender …

India’s Yes Bank to raise $1.1 billion via stake sale to U.S. private equity firms Read More »

By Sumit Khanna and Rajendra Jadhav AHMEDABAD, India (Reuters) – India launched its first international bullion exchange on Friday as the world’s second biggest consumer of the precious metal tries to bring transparency to the market for the precious metal. India International Bullion Exchange (IIBX), based at Gujarat International Finance Tec-City, or GIFT City in …

India launches first international bullion exchange to bring transparency Read More »

By Ron Bousso LONDON (Reuters) – Big Oil has never had it so good, and its immediate priority is rewarding shareholders. The world’s largest energy companies, including TotalEnergies, Exxon Mobil and Chevron are ramping up buyback programmes despite criticism that they are not moving swiftly enough to increase oil and gas output as high fuel …

Big oil’s Q2 profits hit record $50 billion – with BP yet to come Read More »