NEW DELHI (Reuters) -India’s incentive scheme for recycling of critical minerals is in the final stages of getting approvals, as the country strives to meet its clean energy goals, according to a mines ministry government document. The scheme, which will includes lithium-ion batteries, will give capex subsidy to eligible recyclers, according to the document shared with …
By Nidhi Verma NEW DELHI (Reuters) -India’s two major private-sector refiners, which have long prioritised exports, are turning to local sales, grabbing share in the country’s fast-growing $150 billion fuel retail market as weaker global demand squeezes profit margins offshore. Reliance Industries and Nayara Energy are stepping up sales at home as fuel demand growth …
Private refiners tap India’s drivers as export markets tighten Read More »
(Reuters) – The Reserve Bank of India (RBI) cut its key repo rate by a larger-than-expected 50 basis points (bps) on Friday, a third consecutive reduction, and slashed the reserve ratio for banks as muted inflation provided space for policymakers to focus on supporting economic growth. The Monetary Policy Committee (MPC), which consists of three …
MUMBAI (Reuters) -India’s foreign exchange reserves stood at $691.5 billion as of May 30, the governor of the country’s central bank said on Friday, down $1.2 billion from the previous week and coming off near-eight month highs. The country’s FX reserves are now about $13.4 billion below their all-time high hit in September 2024. “These …
India’s forex reserves fall to $691.5 billion as on May 30 Read More »
By Sherin Elizabeth Varghese (Reuters) – Safe-haven gold reversed course to fall on Thursday after U.S. President Donald Trump and Chinese leader Xi Jinping agreed to further talks to settle trade disputes, while silver breached the key $35 level to reach a 13-year high. Spot gold fell 0.7% to $3,351.69 an ounce as of 02:13 …
Gold falls as Xi-Trump call signals thaw in trade tensions; silver hits 13-year high Read More »
By Dharamraj Dhutia MUMBAI (Reuters) -A widely popular strategy of investing in India’s five-year government bonds is losing its appeal as the security has now nearly priced in likely rate cuts, five fund managers said on Thursday. Heavy buying in the 6.75% 2029 bond has knocked down the yield by 80 basis points (bps) since …
(Adds dropped word officials in paragraph 1, repetition in 6) By Manoj Kumar NEW DELHI (Reuters) -Indian and U.S. officials are holding high-level talks this week, aiming to finalise tariff cuts in sectors such as farm and automobiles as part of an interim deal, two government sources said, with an announcement likely later this month. …
India, US push to finalise interim tariff deal as Trump’s deadline nears Read More »
NEW DELHI (Reuters) -France’s Dassault Aviation and India’s Tata Advanced Systems have agreed to manufacture the fuselage of the Rafale fighter aircraft in India, the companies said on Thursday, the first time it will be produced outside France. India, the world’s biggest arms importer, has been looking to step up domestic production and boost defence …
France’s Dassault and India’s Tata to produce Rafale fuselage in Hyderabad Read More »
(Reuters) -The founding firms of India’s Bajaj Finserv will sell at least a 1.58% stake they own in the financial services company in a deal worth 47.5 billion rupees ($554 million), news channel ET NOW reported on Thursday, citing sources. The firms, which include Jamnalal Sons and Bajaj Holdings and Investment, will sell the 25.3 …
India’s Bajaj Finserv founding firms to sell 1.6% stake for $554 million, ET NOW reports Read More »
By Ashwin Manikandan (Reuters) -Walmart’s Flipkart has secured a lending licence from the Indian central bank and banking regulator, enabling it to offer loans directly to customers and sellers on its platform, a spokesperson for the company confirmed after Reuters reported the development citing documents and a source. This is the first time the Reserve …
Exclusive-Walmart’s Flipkart secures approval for direct lending in India Read More »
