TOKYO (Reuters) – Japan’s Chubu Electric Power Co Inc said on Tuesday it will spend up to 5 billion yen ($39 million) to buy a 20% stake in India’s rural renewable energy service company, OMC Power Private Ltd, through a third-party allotment of shares. OMC operates about 280 renewable energy plants to provide electricity for …
Japan’s Chubu Elec to buy stake in India’s OMC Power Read More »
By Nick Carey and Christina Amann LONDON/BERLIN (Reuters) – The humble wire harness, a cheap component that bundles cables together, has become an unlikely scourge of the auto industry. Some predict it could hasten the downfall of combustion cars. Supplies of the auto part were choked by the war in Ukraine, which is home to …
How a cheap component could help kill off combustion cars Read More »
By Iain Withers LONDON (Reuters) – The U.S. dollar resumed its slide on Monday as risk appetite across markets tentatively strengthened, supported by encouraging economic data and bets that the Federal Reserve will tighten policy at a slower pace. The dollar index – which tracks the greenback against six major rivals – is on track …
Dollar resumes slide as stock markets tentatively pick up Read More »
By Nidhi Verma and Aftab Ahmed NEW DELHI (Reuters) – India has received 34 million barrels of discounted Russian oil since Moscow invaded Ukraine on Feb. 24, according to Refinitiv Eikon data, more than trebling the value of total imports from Russia, including other products, compared with the same period of 2021. The volumes of …
India’s imports of cheap Russian crude surge since Ukraine invasion Read More »
By Mayank Bhardwaj and Rajendra Jadhav NEW DELHI (Reuters) – India has received requests for the supply of more than 1.5 million tonnes of wheat from several countries that need the staple to overcome shortages triggered by the invasion of Ukraine by Russia, trade and government sources said on Monday. “More than half a dozen …
India asked to supply more than 1.5 million tonnes wheat Read More »
MUMBAI (Reuters) – Life Insurance Corporation of India reported a profit of 23.72 billion Indian rupees ($306 million) for the March quarter, down from 28.93 billion a year earlier. India’s biggest insurer and largest domestic financial investor also announced a dividend of 1.50 rupees per share with a face value of 10 rupees each, it …
Life Insurance Corp of India reports lower profit; declares dividend Read More »
By Sudarshan Varadhan NEW DELHI (Reuters) -India plans to reduce power generation from least 81 coal-fired utilities over the next four years, the federal power ministry said in a letter, in an effort to replace expensive thermal generation with cheaper green energy sources. The plan aims to maximize green energy potential and save costs, the …
India aims to cut power output from at least 81 coal-fired plants over 4 years Read More »
BENGALURU (Reuters) -Indian shares ended higher for a third straight session on Monday, riding on gains in technology stocks and a surge in automaker Mahindra and Mahindra after strong quarterly earnings. The NSE Nifty 50 index closed 1.89% higher at 16,661.40, while the S&P BSE Sensex ended up 1.9% at 55,925.74. Both the indexes added …
By Alex Lawler LONDON (Reuters) – Russia’s invasion of Ukraine has reconfigured the global oil market, with African suppliers stepping in to meet European demand and Moscow, stung by Western sanctions, increasingly tapping risky ship-to-ship transfers to get its crude to Asia. The reroutings mark the biggest supply-side shakeup of the global oil trade since …
Analysis-How the Ukraine conflict is reshaping global oil markets Read More »
By Neha Arora NEW DELHI (Reuters) – India’s largest steel producer, JSW Steel Ltd, will continue to supply products to its buyers in Europe without passing on any increase in costs despite New Delhi’s decision to impose an export tax, a senior company official said on Monday. India recently imposed an export tax of 15% …
