MUMBAI (Reuters) – The Indian central bank was likely selling dollars to limit the rupee’s losses after it hit a record low on Tuesday on higher U.S. bond yields and dollar demand from local oil companies. The rupee was quoted at 85.16 to the U.S. dollar as of 9:20 a.m. IST after dipping to a …
Indian central bank likely selling dollars to cap rupee depreciation, traders say Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee may open near its all-time low on Tuesday and continue to trade with a mild depreciation bias, pressured by a rise in U.S. bond yields, with traders expecting the domestic central bank to intervene to keep a lid on sharp declines. The one-month non-deliverable forward indicated …
Rupee to hover near record low amid rise in US Treasury yields Read More »
(Reuters) -Viatris said on Monday the U.S. Food and Drug Administration has restricted imports of 11 products made at the drugmaker’s facility in India after the regulator’s inspection found it had violated federal requirements. The FDA has issued a warning letter to Viatris related to its drug manufacturing facility in Indore in the central Indian …
US FDA restricts imports of some Viatris drugs made at India facility Read More »
By Sherin Elizabeth Varghese (Reuters) – Gold prices edged lower in subdued holiday-season trading on Monday, weighed down by a robust dollar and high U.S. Treasury yields as investors awaited clearer signals on the Federal Reserve’s monetary policy for 2025. Spot gold was down 0.4% at $2,611.17 per ounce, as of 1:42 p.m. ET (1842 …
Gold eases as US dollar, yields rise in thin holiday trading Read More »
(Reuters) – Indian electric-vehicle maker Greaves Electric Mobility plans to raise 10 billion rupees ($117.5 million) through an initial public offering, according to the draft papers it filed on Monday. Greaves Electric is known for its ‘Ampere’ brand of e-scooters and also manufactures three-wheelers under a different brand. The company’s top shareholder – publicly listed …
Indian EV maker Greaves Electric Mobility files IPO papers Read More »
By Nikunj Ohri NEW DELHI (Reuters) -India’s move to tax popcorn differently based on its sugar or spice content has drawn criticism from the opposition and sparked social media outrage, with two former government economic advisers questioning the tax system introduced in 2017. The Goods and Services Tax (GST) Council, chaired by the finance minister …
How to tax popcorn? India’s formula sparks outrage against GST system Read More »
By Rajendra Jadhav MUMBAI (Reuters) – Sugarcane yields in India are declining due to last year’s drought and this year’s excessive rains, which could reduce the country’s sugar production below consumption levels for the first time in eight years, farmers and industry officials said on Monday. Lower-than-expected output by the world’s second-largest sugar producer could …
Weather woes to crush India’s sugar production, export hopes Read More »
By Bharath Rajeswaran (Reuters) – India’s benchmark indexes rose on Monday, led by heavyweights HDFC Bank and Reliance Industries, as well as metal stocks, and in line with regional peers on the back of lower-than-expected U.S. inflation data. The Nifty 50 climbed 0.7% to 23,753.45 points, while the BSE Sensex gained 0.64% to 78,540.17, with …
India’s benchmark indexes rebound after worst week since June 2022 Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee weakened to its lifetime low on Monday, pressured by weakness in the offshore Chinese yuan and strong dollar bids from importers, likely related to month-end payments, while state-run banks’ dollar sales capped the decline. The rupee declined to 85.12 against the U.S. dollar, hitting an all-time …
Rupee slips to all-time low pressured by weak yuan, importer dollar bids Read More »
By Nidhi Verma NEW DELHI (Reuters) – India’s November crude imports showed Middle Eastern oil at a 9-month high while Russia accounted for its smallest share in three quarters, ship tracking data obtained from sources showed. Refiners in India have been gorging on cheaper Russian oil despite problems posed by sanctions aimed at reducing Moscow’s …
Middle East share of India’s Nov oil imports at 9-month high; Russia down Read More »
