By Dharamraj Dhutia MUMBAI (Reuters) – The Indian rupee continued its losing streak for a fifth consecutive session on Tuesday as Washington confirmed it will impose an extra 25% levy on Indian goods, clouding the outlook for Asia’s third-largest economy. The fall in the rupee was curbed after dollar sales from banks, likely on behalf …
Impending Trump tariff hike pushes rupee down for 5th straight session Read More »
By Khushi Malhotra and Dharamraj Dhutia MUMBAI (Reuters) -India’s Vodafone Idea Telecom Infrastructure, a wholly owned subsidiary of telecom operator Vodafone Idea, is in talks to raise up to 50 billion rupees ($569.5 million) through a debt sale in September, three sources familiar with the matter said on Tuesday. The unit of India’s third-largest wireless …
Vodafone Idea unit seeks to raise $570 million via short-term debt, sources say Read More »
NEW DELHI (Reuters) -India’s state-run Oil and Natural Gas Corp (ONGC) is planning to set up a trading unit for the crude and refined fuels of its group companies, a top executive at ONGC Videsh said at an industry event. ONGC Videsh is the overseas investment arm of ONGC and annually produces about 10 million …
India’s ONGC plans to set up trading unit for crude, refined fuels for group firms Read More »
By Aditya Kalra NEW DELHI (Reuters) -India’s Supreme Court has ordered an investigation into a wildlife rescue centre run by the philanthropic arm of billionaire Mukesh Ambani’s group, although it said the evidence did not support allegations of unlawful animal acquisitions and mistreatment. Vantara is a marquee project of the Reliance Foundation and the Ambani …
Ambani son’s wildlife centre faces probe into allegations of animal mistreatment Read More »
(Reuters) -India’s Jakson Engineers will invest more than 80 billion rupees ($914 million) to build a 6 gigawatt solar cell and module manufacturing plant in the central state of Madhya Pradesh, Jakson Solar said on Tuesday. The two privately-held companies are a part of the energy solutions conglomerate Jakson Group, which is betting on the …
India’s Jakson Engineers to invest over $914 million in solar manufacturing plant Read More »
By Swati Bhat and Dharamraj Dhutia MUMBAI (Reuters) -Indian bond traders are calling for central bank intervention as a sharp drop in institutional buying has pushed yields higher, threatening to stall monetary transmission, market participants said on Tuesday. The benchmark 10-year bond yield has jumped 24 basis points to 6.62% in August, including a 22-bp …
As Indian bond buyers retreat, traders urge RBI to restore market calm Read More »
By Nimesh Vora MUMBAI (Reuters) – With punitive U.S. tariffs about to take effect on Wednesday, most Indian companies remain light on hedges, data from a clearing house shows, increasing their exposure to rupee fluctuations. Indian importers booked $21.8 billion of forward dollar/rupee contracts between August 1 and August 21, CCIL data shows. That tally, …
Light hedging leaves Indian importers vulnerable to U.S. tariffs fallout Read More »
MUMBAI (Reuters) -The Reserve Bank of India is reportedly selling dollars via state-run banks to stabilize the rupee, which has come under pressure on worries about the fallout from potential steep U.S. tariffs, three traders said. The rupee was trading at 87.7350 to the dollar, down 0.18% on the day and off an intraday low …
Indian central bank likely intervening to cushion rupee against US tariff risks Read More »
By Sarah Qureshi (Reuters) – Gold prices held steady on Monday, as the market’s focus shifted to upcoming U.S. PCE data for cues on the Federal Reserve’s policy path, while a stronger dollar capped gains. Spot gold was flat at $3,372.67 per ounce, as of 0145 p.m. ET (17:44 GMT), after hitting its highest level …
Gold holds steady as markets await cues on Fed policy path Read More »
DUBLIN (Reuters) -Online betting company Flutter has shut down its money-based online games in India following a law change last week, with CEO Peter Jackson saying he was “extremely disappointed” by the development. India’s parliament on Thursday passed a bill to ban online games played with money in a move that threatens the survival of …
Flutter shuts down money-based online games in India following law change Read More »
