By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee strengthened on Tuesday supported by likely intervention by the central bank and a rise in Asian currencies, as the dollar weakened to its lowest level since November against major peers. The rupee closed at 87.2125 against the U.S. dollar, up 0.1% on the day. The currency …
Rupee gains as dollar index drops to four-month low Read More »
MUMBAI (Reuters) – U.S.-headquartered cryptocurrency exchange Coinbase Global has registered with India’s Financial Intelligence Unit (FIU), allowing it to offer crypto trading services in the country, the company said on Tuesday. Coinbase said it plans to launch its initial retail services later this year and roll out additional investments and products thereafter, but did not …
Coinbase registers with Indian financial watchdog to offer crypto trading services Read More »
MUMBAI (Reuters) – India’s cotton imports in 2024/25 are likely to double from a year ago as production is set to fall below consumption because of a decline in acreage planted and adverse weather, a leading trade body said on Tuesday. Higher imports by the world’s second-largest producer of the fibre could support global prices, …
India’s cotton imports to double as output falls short, says trade body Read More »
By Rajendra Jadhav and Anjana Anil MUMBAI (Reuters) – India’s edible oil imports in February plunged to their lowest level in four years, led by declines in soyoil and sunflower oil imports, dragging inventories to their lowest level in three years, a leading industry body said on Tuesday. Lower-than-normal imports for the second straight month …
India’s edible oil imports hit 4-year low, depleting inventories Read More »
NEW DELHI (Reuters) – India has not taken any decision to merge KIOCL and NMDC, junior Steel Minister Bhupathiraju Srinivasa Varma said in a written response in parliament on Tuesday. The steel ministry had proposed a merger of the miners in January, but the divestment department informed that “there is no such decision” at present, …
India steel minister says no decision on KIOCL, NMDC merger Read More »
By Siddhi Nayak and Dharamraj Dhutia MUMBAI (Reuters) – Indian non-banking financial companies (NBFCs) are likely to tweak their funding pattern in the upcoming financial year, as the Reserve Bank of India’s relaxation of some lending norms could nudge banks to increase funding to this segment. The RBI partially reversed tighter rules for bank loans …
Indian non-bank lenders to tweak funding mix after RBI relaxes banks’ lending norms Read More »
By Hritam Mukherjee NEW DELHI (Reuters) – High value cyber fraud cases in India jumped more than four times in fiscal 2024 causing losses of $20 million, official data showed, underscoring rising risks in a country with hundreds of millions of digital financial transactions everyday. Affordable data packs in the world’s most populous country, starting …
India says cyber fraud cases jumped over four-fold in FY2024, caused $20 million losses Read More »
NEW DELHI (Reuters) -India is considering new incentives for its exporters amid global trade uncertainty and the potential impact of tariffs threatened by the Donald Trump administration on shipments to the United States, a government official said on Tuesday. Pressure on Indian exporters is mounting due to aggressive policies being pursued by trade partners like …
India considers exporter incentives amid trade risks, official says Read More »
By Praveen Paramasivam CHENGALPATTU, India (Reuters) – India’s Godrej Consumer Products will keep raising prices of its soaps gradually to protect margins amid rising palm oil prices, the consumer goods maker’s top boss said on Monday. Palm oil prices have surged in recent months due to floods in top producers Indonesia and Malaysia, forcing consumer …
India’s Godrej Consumer mulls more gradual price hikes for soaps Read More »
(Reuters) -India’s Syngene International on Monday said it has acquired its first biologics facility in the United States from Emergent Manufacturing Operations Baltimore, a unit of Emergent BioSolutions, for $36.5 million. The contract research firm’s acquisition of the facility aligns with broader industry efforts in India to reduce dependence on China by expanding capabilities in …
India’s Syngene International acquires first US biologics facility for $36.5 million Read More »
