By Bharat Gautam (Reuters) – Gold prices rose on Monday as the dollar weakened, but recent gains are unlikely to stave off another monthly fall for greenback-priced bullion. Spot gold was up 0.4% at $1,860.07 per ounce, as of 0753 GMT. U.S. gold futures also climbed 0.4% to $1,864.30. “With the three-day holiday in the …
Gold prices rise as dollar weakness lifts appeal Read More »
By Sudarshan Varadhan NEW DELHI (Reuters) -State-run Coal India, the world’s largest coal miner, will import the fuel for use by utilities, a power ministry letter seen by Reuters showed on Saturday, as shortages raise concerns about renewed power outages. It would be the first time since 2015 that Coal India has imported the fuel, …
Coal India to import for first time in years as power shortages loom Read More »
By Sudarshan Varadhan NEW DELHI (Reuters) – India is expected to face a wider coal shortage during the quarter ending September over expectations of higher power demand, an internal power ministry presentation seen by Reuters showed, worsening risks of widespread power outages. The energy-hungry nation expects local coal supply to fall 42.5 million tonnes short …
Exclusive-India seen facing wider coal shortages, worsening power outage risks Read More »
By John McCrank NEW YORK (Reuters) – The dollar edged lower on Friday on its way to a second-straight weekly decline as traders pared expectations for U.S. Federal Reserve interest rate hikes and as improving inflation and consumer spending data eased recession fears. The dollar index, which measures the safe-haven currency against a basket of …
Dollar slides for second week as traders adjust Fed rate hike views Read More »
By Seher Dareen (Reuters) – Gold prices edged up on Friday and were headed for a second consecutive weekly gain propped up by a pullback in the dollar and U.S Treasury yields, while fears of aggressive policy tightening by the Federal Reserve subsided. Spot gold gained 0.1% to $1,852.22 per ounce by 2:16 p.m. ET …
Gold prices set for second weekly gain as dollar, yields slip Read More »
By Nidhi Verma NEW DELHI (Reuters) – Indian companies with stakes in two Russian assets are unable to repatriate 8 billion roubles ($125.49 million) in dividends due to tough western sanctions, an official at Oil India Ltd said on Friday. A consortium comprising Oil India, Indian Oil Corp and Bharat Petroleum Corp own 23.9% of …
India oil cos’ $125.5 million dividend from oil assets stuck in Russia Read More »
By Rajendra Jadhav and Mayank Bhardwaj NEW DELHI (Reuters) – Monsoon rains are likely to hit India’s southern Kerala coast in the next two to three days, the weather office said on Friday, marking the start of the four-month rainy season that is forecast to be average this year, helping the farm sector. “Conditions are …
Monsoon rains likely to hit India in 2-3 days -weather office Read More »
By Swati Bhat MUMBAI (Reuters) – India’s banks need to monitor the credit behaviour of restructured loans and the possibility of increased repayment slippages from sectors more exposed to the pandemic, the central bank said in a report on Friday. With the unwinding of support measures, some restructured accounts might face solvency concerns, with the …
India cenbank: banks need to arrest repayment slippages, support credit growth Read More »
By Rajendra Jadhav and Mayank Bhardwaj NEW DELHI (Reuters) -India does not plan to curb rice exports as the world’s biggest exporter of the staple has sufficient stocks and local rates are lower than state-set support prices, trade and government sources said. India banned wheat exports on May 14, just days after New Delhi forecast …
India has no plans to curb rice exports as local supplies surge Read More »
By Sudarshan Varadhan NEW DELHI (Reuters) -India has asked power producers to bill electricity buyers every week to ensure adequate cash flow as costs surge due to higher imports of expensive coal, according to a federal power ministry letter seen by Reuters. A scorching heatwave and the lowest fuel inventories at power plants in years …
India asks power producers to seek weekly payments to manage pricey coal imports Read More »
