NEW DELHI (Reuters) – India’s economic growth rate is likely to slow if the central bank hikes interest rates, Finance Secretary TV Somanathan told CNBC TV18 on Thursday. India’s central bank is likely to raise its inflation projection for the current fiscal year at its June monetary policy meeting and will consider more interest rate …
India’s economic growth to slow if central bank hikes rates – official Read More »
(Reuters) -Ford Motor Co said on Thursday it had dropped plans to make electric vehicles (EVs) in India for exports, while it explores options for its two factories in the country that stopped production last year. The U.S. car maker said in February it would manufacture EVs in India and also got approval for the …
Ford makes U-turn, shelves plans for EV exports from India Read More »
By Ashitha Shivaprasad (Reuters) – Gold resumed its climb on Wednesday after a knee-jerk retreat tied to the release of U.S. inflation data, as the dollar slipped with investors latching on to a slight cooling of consumer prices. Spot gold was up 0.8% at $1,852.65 per ounce by 02:05 p.m. EDT (1814 GMT). U.S. gold …
Gold bounces as dollar uptick halts after U.S. inflation data Read More »
By Aftab Ahmed and Nupur Anand NEW DELHI (Reuters) – India’s central bank is likely to raise its inflation projection for the current fiscal year at its June monetary policy meeting and will consider more interest rate hikes, a source aware of the development said on Wednesday. In its first rate move in two years …
By Aditi Shah NEW DELHI (Reuters) – India’s tech-to-autos Tata Group is drawing up plans to launch a battery company in India and abroad, its chairman N Chandrasekaran said on Wednesday, as Tata deepens its push to build electric vehicles. The group is making a transition towards sustainability across businesses which includes a clean mobility …
India’s Tata Group readying plan for battery company in India, abroad Read More »
NEW DELHI (Reuters) – India’s power ministry on Wednesday asked state-run Power Finance Corp and Rural Electrification Corp to arrange short term loans for power plants using imported coal that are facing financial stress or corporate debt restructuring. India last week invoked an emergency law in a bid to start generation at some idle power …
India asks state-run firms to lend to debt-laden utilities to help restart operations Read More »
By Aditi Shah NEW DELHI (Reuters) – Toyota Motor Corp plans to make India a manufacturing hub for electric vehicle parts to meet demand there as well as for export to Japan and some ASEAN countries, a senior company executive told Reuters. The carmaker plans to start by producing e-drives or electric powertrain parts used …
Toyota to make EV parts in India for domestic, export markets Read More »
By Rama Venkat BENGALURU (Reuters) -Indian shares on Wednesday fell to their lowest in two months, extending losses for a fourth straight session as oil prices rose, while investors kept an eye out for U.S. inflation data for cues on the Federal Reserve’s rate hike plans. The NSE Nifty 50 index was down 0.45% at …
Indian shares hit two month-low as oil prices rise; U.S. inflation data in focus Read More »
LUSAKA (Reuters) – Vedanta Resources has challenged Zambia’s appointment of a new Provisional Liquidator for Konkola Copper Mines (KCM) following the resignation of the previous office holder. Zambia’s previous government put KCM into the hands of liquidator Milingo Lungu in May 2019, triggering an ongoing legal dispute with Vedanta Resources, KCM’s parent company. The government …
Vedanta challenges Zambia’s appointment of new KCM liquidator Read More »
By Sudarshan Varadhan NEW DELHI (Reuters) – India’s environment ministry has allowed coal mines with clearances to increase output by 40% to step up production by up to 50% without seeking feedback from locals, it said in a memo reviewed by Reuters. The decision was taken after a request from the coal ministry which pointed …
India lets coal mines hike output without feedback Read More »
