By Munsif Vengattil and Nupur Anand NEW DELHI (Reuters) -India’s effort to break Amazon Inc and Walmart Inc’s dominance of its e-commerce sector, by establishing its own open network, has begun lining up banks and other key players needed to move it forward, sources familiar with the matter said. Some of India’s biggest banks are …
India lines up banks for e-commerce effort to take on Amazon, Walmart Read More »
NEW DELHI (Reuters) – India’s government in April launched its Open Network For Digital Commerce (ONDC) as a prospective alternative to dominant global giants Amazon.com and Walmart in its fast-growing e-commerce market. Here is a description of the different moving parts of ONDC. WHAT IS ONDC? ONDC is a non-profit company whose network will enable …
What is ONDC, India’s project for an open e-commerce network? Read More »
BENGALURU (Reuters) -Indian shares settled lower on Wednesday, dragged by pharma and technology stocks, while data showed that the country’s economic growth slowed to the lowest in a year during the March quarter. After see-sawing between gains and losses for most of the session, the NSE Nifty 50 index ended 0.37% lower at 16,522.75 and …
Indian shares drop for second day as IT, pharma stocks drag Read More »
BENGALURU (Reuters) – India’s factory activity expanded at a better-than-expected pace last month as overall demand remained resilient despite persistently high inflation, encouraging firms to hire at the fastest rate since January 2020, according to a private survey. The survey comes just a day after official data showed Asia’s third-largest economy expanded at an annual …
India’s May factory activity remained strong despite inflation worries Read More »
MUMBAI (Reuters) -India has slashed the base import prices of crude and refined palm oil, while raising the price of crude soyoil, the government said in a statement late on Tuesday. The government revises base import prices of edible oils, gold and silver every fortnight, and the prices are used to calculate the amount of …
India cuts base import price of palm oil; raises soyoil price Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar strengthened across the board on Tuesday as Treasury yields climbed and worries over a further acceleration in global inflation depressed investors’ risk appetite. The dollar was supported by demand for safe havens. U.S. stocks fell on Tuesday as soaring oil prices and hawkish comments from …
Dollar rises as inflation worries hurt risk sentiment Read More »
By Seher Dareen (Reuters) – Gold prices fell nearly 1% on Tuesday, and were headed for a second consecutive month of declines, pressured by a stronger dollar and as rising U.S. Treasury yields dented the metal’s appeal despite concerns over surging inflation. Spot gold fell 0.7% to $1,842.50 per ounce by 2:06 p.m. ET (1806 …
Gold falls for second month on rising yields, dollar Read More »
By Laura Sanicola (Reuters) -Refiners worldwide are struggling to meet global demand for diesel and gasoline, exacerbating high prices and aggravating shortages from big consumers like the United States and Brazil to smaller countries like war-ravaged Ukraine and Sri Lanka. World fuel demand has rebounded to pre-pandemic levels, but the combination of pandemic closures, sanctions …
Global refiners falter in efforts to keep up with demand Read More »
By Swati Bhat MUMBAI (Reuters) – India’s benchmark 10-year bond yield touched a three-week high on Tuesday and posted its sixth straight monthly rise as expectations for more aggressive monetary tightening rose amid sustained high global crude oil prices. The benchmark bond yield ended trading at 7.42%, up 1 basis point on the day after …
India 10-yr yield rises for a sixth month; rupee down for fifth Read More »
BENGALURU (Reuters) -Indian shares snapped a three-session run of gains on Tuesday as banking and technology stocks lost steam ahead of key economic growth data. The NSE Nifty 50 index closed 0.46% lower at 16,584.55, dragged by a 3.1% drop in Sun Pharmaceutical Industries after it posted a loss for the March quarter. The index …
Banks, tech stocks drag Indian shares lower; GDP data in focus Read More »
