By Stephanie Kelly NEW YORK (Reuters) -Oil prices sank about 6% on Monday alongside equities, as continued coronavirus lockdowns in China, the top oil importer, fed worries about the demand outlook. Brent crude fell $6.45, or 5.7%, to settle at $105.94 a barrel. U.S. West Texas Intermediate crude fell $6.68, or 6.1%, to settle at …
Oil tumbles about 6% as China COVID lockdowns weigh Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices extended their retreat to fall more than 1% on Monday as the dollar hovered near two-decade highs, dimming the metal’s appeal. Spot gold was down 1.4% at $1,856.26 per ounce by 02:00 p.m. EDT (1800 GMT). U.S. gold futures settled down 1.3% at $1,858.60. “The dollar has exploded …
MUMBAI (Reuters) -India’s largest ever initial public offering (IPO), by Life Insurance Corp (LIC), was oversubscribed 2.95 times as six days of bidding came to an end on Monday, according to a stock exchange filing. The government expects to raise up to $2.7 billion – a third of its original target – from selling a …
India’s largest IPO, for insurer LIC, oversubscribed 2.95 times Read More »
By Aftab Ahmed NEW DELHI (Reuters) -India has asked its central bank to either buy back government bonds or conduct open market operations to cool yields that have hit their highest since 2019, as inflation risks push foreign investors to sell, a government source told Reuters on Monday. The 10-year benchmark bond ended at 93.69 …
India seeks cenbank’s help to lower bond yields -govt source Read More »
BENGALURU (Reuters) -Indian shares fell and the rupee hit an all-time low on Monday, weighed down by global economic growth worries due to tightening of lockdown in Shanghai and fears inflation could increase aggressive policy tightening from central banks. The NSE Nifty 50 index was down 0.67% at 16,301.85 at close, while the S&P BSE …
Indian shares end lower, rupee hits record low on global economic growth fears Read More »
By Noah Browning and Dmitry Zhdannikov LONDON (Reuters) – The United States announced a record-sized release of emergency crude oil reserves in March without consulting partners in the International Energy Agency, leaving them scrambling to match with releases of their own, according to two sources familiar with the matter. Unilateral action by Washington to address …
LUSAKA (Reuters) – Vedanta Resources has offered to step up investment in Zambia’s Konkola Copper Mines (KCM) and implement several social responsibility programmes if it resumes control of the local firm, a company letter sent to the government showed. Zambia’s previous government put KCM into the hands of liquidator Milingo Lungu in May 2019, triggering …
Vedanta offers Zambia investment commitments in return for copper-mine control Read More »
MUMBAI (Reuters) – State-owned Central Bank of India has not yet decided on a possible extensive branch closure plan this fiscal year, the lender said on Saturday days after Reuters reported it planned to shut some branches to improve its financial health. On Thursday, Reuters cited sources and a document saying the bank was looking …
Central Bank of India says not yet decided on branch closures Read More »
MUMBAI (Reuters) – India’s Tata Steel said three contract workers had been injured in a blast at one of its coke plant units in the eastern state of Jharkhand on Saturday. The unit was not operational and was undergoing a dismantling process, Tata, India’s largest steelmaker by revenue, said in a statement, adding that production …
Blast at India’s Tata Steel coke plant injures three contract workers Read More »
MUMBAI (Reuters) – India’s top housing finance firm HDFC Ltd said it would raise its retail prime lending rate on home loans by 30 basis points with effect from May 9, according to an exchange filing on Saturday. Several lenders have increased lending and deposit rates after India’s central bank in a surprise move on …
