By Scott DiSavino NEW YORK (Reuters) -Oil prices settled slightly higher on Friday as a planned European Union ban on Russian oil and easing of COVID-19 lockdowns in China countered concerns that slowing economic growth will hurt demand. Brent futures for July delivery rose 51 cents, or 0.5%, to $112.55 a barrel. U.S. West Texas …
Oil settles up as supply risks outweigh economic worries Read More »
By Ashitha Shivaprasad (Reuters) – Gold edged up on Friday, heading for its first week of gains in five on persistent worries over economic growth and a weekly decline in the dollar. A slide in U.S. Treasury yields supported the safe-haven metal on the day, sending spot gold up 0.1% to $1,843.29 per ounce by …
Gold set for weekly gain on dollar retreat, economic woes Read More »
(Reuters) – India’s One 97 Communications Ltd, the parent of fintech firm Paytm, on Friday reported a wider fourth-quarter loss due to higher expenses related to payment processing, marketing and employee benefits. The company had said in April it expected to be operationally profitable by September 2023, though analysts have raised concerns over its business …
Paytm parent’s quarterly loss widens as expenses surge Read More »
NEW DELHI (Reuters) – New Development Bank (NDB), established by the BRICS group of emerging economies, said on Friday it would set up a regional office in India for funding and monitoring infrastructure projects in that country and Bangladesh. “The Indian Regional Office will be instrumental in enhancing NDB’s engagement with borrowers and stakeholders,” NDB …
BRICS-led New Development bank to set up regional office in India Read More »
By Krishna N. Das and Aftab Ahmed NEW DELHI (Reuters) – Surging inflation is forcing many poor Indians to rein in spending, threatening a slowdown for companies such as Godrej Appliances which saw bumper sales as recently as March and April after a brutal heatwave spiked demand for its cooling products. The Ukraine crisis and …
Inflation crimps Indian firms as rural millions cut spending Read More »
By Aditi Shah NEW DELHI (Reuters) – Indian auto parts maker Sona BLW Precision Forgings expects two-thirds of its revenues to come from electric vehicle (EV) components over the next few years, as automakers rush to build more clean cars, its chairman told Reuters. Sona BLW, which produces drivetrain components such motors and gears, will …
Indian auto parts supplier Sona BLW bets on global EV push Read More »
By Mayank Bhardwaj and Rajendra Jadhav NEW DELHI (Reuters) -India is considering allowing traders to ship out some of their wheat sitting at ports after a sudden ban on exports of the grain prevented dealers from loading cargoes, trade and government sources said on Thursday. New Delhi banned wheat exports on Saturday, as an intense …
India considers allowing wheat shipments trapped at ports Read More »
By Ashitha Shivaprasad (Reuters) – Gold rose over 1.5% on Thursday as a slide in the dollar and Treasury yields burnished bullion’s safe-haven appeal after weak U.S. jobs numbers compounded economic concerns. Spot gold rose 1.4% to $1,840.97 per ounce by 2:20 p.m. ET (1820 GMT), while U.S. gold futures settled up 1.4% at $1,841.2. …
By Nidhi Verma NEW DELHI (Reuters) – India is in talks with Russia over a deal to buy oil at discounted rates, the chairman of India’s state-run Hindustan Petroleum Corp. said on Thursday, at a time when much of the West is shunning Russian crude over the conflict in Ukraine. India, the world’s third biggest …
Indian government in talks with Russian over cut-price oil deal – HPCL Read More »
By Sudarshan Varadhan NEW DELHI (Reuters) – India has asked its federal power regulator to allow power generators to import up to 30% of the country’s coal requirement until March next year, according to a power ministry letter seen by Reuters. India had asked utilities to import 10% of its total requirement, or about 38 …
India asks regulator to allow utilities to import up to 30% of coal needs Read More »
