By Karen Brettell and Sujata Rao NEW YORK (Reuters) – The euro rebounded on Tuesday after sliding to a 20-year low and nearing parity against the U.S. dollar as investors worried that an energy crisis in the region would bring on a recession. The single currency reached $1.00005 against the greenback, the lowest since December …
Euro bounces from brink of parity with US dollar Read More »
By Aditya Kalra NEW DELHI (Reuters) -French spirits group Pernod Ricard has warned India that a long-running tax disputes with authorities on valuing liquor imports has inhibited fresh investment and its current business, according to company letters seen by Reuters and two sources with direct knowledge of the matter. Its shares fell 1.8% on the …
By Swati Bhat MUMBAI (Reuters) -The Indian rupee touched a record low on Tuesday, as weakness in domestic equities and other Asian currencies on fears of a global recession weighed on the local unit, although bonds rose following high demand for safer assets. Bond yields dropped as a sell-off in global equity markets boosted demand …
Indian rupee tracks tepid Asian peers, shares to hit record low Read More »
By Sethuraman N R BENGALURU (Reuters) – Indian shares ended lower on Tuesday in the run-up to domestic inflation data that was expected to reinforce bets of further policy tightening by the central bank, while the rupee plumbed a fresh low amid the dollar surge. The NSE Nifty 50 index ended 0.97% lower at 16,058.30, …
Indian shares end 1% lower ahead of inflation data Read More »
By Swati Bhat and Nupur Anand MUMBAI (Reuters) – The Indian central bank’s decision to let importers pay with rupees and exporters be paid in rupees is likely to make trade easier with Russia and South Asian neighbours, and will help a long term goal to internationalise the currency, experts said. On Monday, the Reserve …
By Ashitha Shivaprasad (Reuters) – Gold was pinned near a nine-month low on Monday as bets for aggressive interest rate hikes by the U.S. Federal Reserve and the dollar’s ascent dimmed appeal for bullion. Spot gold fell 0.3% to $1,735.91 per ounce by 2:00 p.m. ET (1800 GMT). U.S. gold futures settled down 0.6% at …
Dollar strength, looming rate hikes pin gold near 9-month low Read More »
By Nidhi Verma NEW DELHI (Reuters) – India’s oil imports from Russia surged to a record of around 950,000 barrels per day (bpd) in June, accounting for nearly a fifth of overall imports by the world’s third largest oil consumer, data provided by trade sources showed. Indian refiners have been snapping up Russian oil sold …
Russia’s share of India’s June oil imports surges to record Read More »
By Swati Bhat MUMBAI (Reuters) -The Indian rupee ended at a record closing low against the dollar on Monday as continued foreign portfolio outflows from domestic stockmarkets and a broadly stronger greenback weighed on the currency despite intermittent dollar selling intervention. The partially convertible rupee closed trading at 79.4375/4475 per dollar in the local session …
Indian rupee marks record closing low on strong dollar; seen weakening further Read More »
By Sethuraman N R BENGALURU (Reuters) – Indian shares pared most of the losses on Monday to end flat following reports the country may soon abolish export tax on key steel products to revive demand lifted metals stocks, offsetting a selloff in technology companies on demand worries. The NSE Nifty 50 index ended flat at …
Indian shares pare losses to end flat after reports of export tax on steel ending Read More »
By Suchitra Mohanty NEW DELHI (Reuters) – India’s Supreme Court sentenced tycoon Vijay Mallya on Monday to four months in jail for refusing to disclose his assets after defaulting on a loan of 90 billion rupees ($1.13 billion) since the collapse of his defunct Kingfisher Airlines. The businessman, with interests ranging from aviation to liquor, …
India’s top court holds businessman Vijay Mallya guilty of contempt Read More »
