Reuters India Business

(Reuters) – U.S. employers in the technology sector cut nearly nine times more jobs in May than in the first four months of the year as rising inflation and slowing demand force companies to cut corners. Though overall layoffs in the country reported by global outplacement firm Challenger, Gray & Christmas on Thursday fell 14.7% …

U.S. tech sector sees highest job cuts in May since Dec. 2020 – report Read More »

BENGALURU (Reuters) – UltraTech Cement said it would spend 128.86 billion rupees ($1.66 billion) to increase its annual capacity as the largest Indian cement maker looks to stave off competition from the sector’s newest entrant Adani Group. The funds will be used to build new facilities and expand plants, which would drive up the annual …

India’s UltraTech Cement pledges $1.66 billion for expansion to fight rising competition Read More »

By Munsif Vengattil NEW DELHI (Reuters) – India is considering whether to set up an appeals panel with the power to reverse the content moderation decisions of social media firms, the information technology ministry said, in what would be the first such move of its kind worldwide. The revelation came in a document seeking comments …

India weighs panel to rule on appeals against social media takedowns Read More »

By Rajendra Jadhav and Aftab Ahmed MUMBAI/NEW DELHI (Reuters) – India has allowed wheat shipments of 469,202 tonnes since banning most exports last month, but at least 1.7 million tonnes is lying at ports and could be damaged by looming monsoon rains, government and industry officials told Reuters. Shipments that have been allowed moved mainly …

India allows small amount of wheat to move out after ban, big stocks still stuck Read More »

By Clyde Russell LAUNCESTON, Australia (Reuters) – Indian oil refiners are sucking up cheap Russian crude, but the risk is that their exports of refined products will eventually attract sanctions from countries determined to cut Russian energy out of global markets. Imports of Russian crude by India hit a record high in May, and will …

Column-India gorges on cheap Russian crude, but its fuel exports at risk: Russell Read More »

By Joyce Lee and Florence Tan SEOUL (Reuters) -Korea Shipbuilding & Offshore Engineering (KSOE) has mostly filled its order book for the next 2-1/2 years as the pandemic drove demand for container ships, leaving little room to meet the needs of the liquefied natural gas (LNG) sector, a senior company executive said. With U.S. LNG …

Tight Asia capacity limits room for new LNG ships – Korea Shipbuilding exec Read More »

By Harish Sridharan (Reuters) – Bearish bets on Asian currencies reduced on signs that China’s economic pain may abate with easing of COVID-19 curbs, but analysts were still wary of future lockdowns and the direction of U.S. monetary policy, a Reuters poll showed on Thursday. Short positions on South Korea’s won and the Taiwanese dollar …

Asia FX bears retreat slightly, China concerns persist – Reuters poll Read More »