Reuters India Business Archives - Page 1139 of 1191

India tribunal rejects Amazon appeal against suspension of deal with Future

13 Jun 2022 13 Jun 2022

MUMBAI (Reuters) – An Indian appeals tribunal on Monday rejected Amazon.com Inc’s appeal against an antitrust suspension of its $200 million investment deal with Future Group, saying the U.S. company concealed information when it sought approval in 2019. India’s antitrust agency issued the suspension in December, stating that Amazon suppressed the actual scope of the …

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India rupee at record low, bonds fall on U.S. inflation worry

13 Jun 2022 13 Jun 2022

By Swati Bhat MUMBAI (Reuters) – India’s rupee hit a record low in opening trade on Monday while bond yields spiked to their highest levels in more than three years as a sharper jump in U.S. inflation raised concern over the Federal Reserve resorting to steeper rate increases. Soaring food and energy prices drove the …

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Rajesh Exports setting up India’s first display plant with $3 billion investment

13 Jun 2022 13 Jun 2022

NEW DELHI (Reuters) – Jeweller Rajesh Exports has agreed to invest $3 billion in India’s southern Telangana state to set up the country’s first electronic-display plant, the state government said late on Sunday. India and many governments around the world have raced to subsidise the construction of semiconductor and display factories as a shortage has …

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Indian cricket media rights bidding war spills over to Monday

12 Jun 2022 12 Jun 2022

By Shilpa Jamkhandikar and Amlan Chakraborty MUMBAI/NEW DELHI (Reuters) -The bidding war for media rights to the Indian Premier League (IPL) will continue on Monday with Disney, Sony and India’s Reliance in contention for what could fetch the Indian cricket board up to $6 billion. The bidding began at 0530 GMT on Sunday for the …

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Oil falls as U.S. inflation data surges, China imposes lockdowns

10 Jun 2022 10 Jun 2022

By Stephanie Kelly NEW YORK (Reuters) -Oil prices fell on Friday, after U.S. consumer prices rose more than expected and China imposed new COVID-19 lockdown measures. Brent crude fell $1.06 to settle at $122.01 a barrel. U.S. West Texas Intermediate crude fell 84 cents to settle at $120.67 a barrel. Both benchmarks still posted weekly …

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Gold rebounds in roller coaster trade as economic fears grow

10 Jun 2022 10 Jun 2022

By Kavya Guduru and Arpan Varghese (Reuters) – Gold prices bounced back in volatile trading on Friday, as focus turned to economic risks after elevated U.S. inflation readings bolstered bets for aggressive interest rate hikes. Spot gold rose 1.4% to $1,873.58 per ounce by 2:40 p.m. EDT (1840 GMT). U.S. gold futures settled up 1.2% …

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India’s fuel demand jumps 24% year-on-year in May

10 Jun 2022 10 Jun 2022

By Kavya Guduru (Reuters) – India’s fuel consumption jumped 23.8% in May from a year earlier, continuing a recovery from a relatively low base in 2021 when the world’s third biggest oil consumer was in the grip of a second wave of COVID-19. Consumption of fuel, a proxy for oil demand, totalled 18.27 million tonnes …

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India’s IndInfravit to buy five road projects from Brookfield in $1.2 billion deal

10 Jun 2022 10 Jun 2022

BENGALURU (Reuters) -India’s IndInfravit Trust said on Friday it would acquire five operational road projects from companies owned by Brookfield Asset Management’s funds in a deal valued at about $1.2 billion, including debt, as it seeks to expand its road portfolio. The deal with Canada’s Brookfield will extend the infrastructure investment trust’s presence into three …

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Indian shares log biggest weekly drop in a month on rate hike fears

10 Jun 2022 10 Jun 2022

By Chandini Monnappa BENGALURU (Reuters) -Indian shares fell more than 1% on Friday and posted their biggest weekly loss in a month as investors shunned risky assets on worries that aggressive interest rate hikes by global central banks would stifle economic growth. Dragged down by losses in financial and technology stocks, the NSE Nifty 50 …

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Indian oil firms to compensate ethanol makers for higher energy costs

10 Jun 2022 10 Jun 2022

NEW DELHI/MUMBAI (Reuters) – Indian state fuel retailers have agreed to provide monetary relief to sugar mills and other producers of ethanol to compensate for high energy costs to boost biofuel production, according to a letter written by the companies to manufacturers. India, the world’s third biggest oil importer and consumer, has expedited efforts to …

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