Reuters India Business

By Swati Bhat MUMBAI (Reuters) – India’s central bank has no choice but to raise interest rates to keep a lid on inflation expectations as supply-side measures will take time to bring down prices, Reserve Bank of India Deputy Governor Michael Patra wrote in the latest MPC minutes. India’s monetary policy committee (MPC) raised rates …

India central bank deputy: rates hikes the only way to curb inflation – minutes Read More »

By Nidhi Verma NEW DELHI (Reuters) – Bharat Petroleum Corp Ltd (BPCL) has shut half of its crude processing capacity at its 240,000 barrels per day (bpd) Mumbai refinery in western India since June 10 to carry out maintenance, a company spokesman said. The state-run refiner has shut a 120,000 bpd crude unit and some …

India’s BPCL halves crude runs at Mumbai refinery; plans repairs at other plants Read More »

By M. Sriram and Aditya Kalra MUMBAI (Reuters) – Sequoia Capital-backed Indian skincare startup Mamaearth is in talks to raise at least $300 million in a planned IPO next year and is seeking a valuation of around $3 billion, three people with direct knowledge of the company’s plans told Reuters. Founded in 2016, Mamaearth has …

Indian skincare startup Mamaearth eyes $3 billion valuation in 2023 IPO – sources Read More »

By Joe Brock SINGAPORE (Reuters) – Shipping companies are transforming rust buckets into gold mines in a modern-day alchemy that could fuel already rampant inflation for years to come. The disruption to world trade caused by pandemic lockdowns and a shortage of new cargo vessels has pushed freight rates for ageing container ships to record …

Old is gold: sky-high cost of ageing ships sounds inflation SOS Read More »

MUMBAI (Reuters) -India’s market regulator on Monday fined Reliance Industries and two of its compliance officers for violating fair disclosure norms during Facebook’s $5.7 billion investment in its digital unit in 2020. In April 2020, Meta’s Facebook invested $5.7 billion in Reliance’s Jio Platforms, aiming to allow WhatsApp to offer payments services to millions of …

India fines Reliance for not promptly disclosing 2020 Facebook deal Read More »