(Reuters) – India’s foreign exchange reserves fell by nearly $2 billion to an almost six-month low of $652.87 billion as of Dec. 13, data from the Reserve Bank of India (RBI) showed on Friday. The reserves had declined by $3.2 billion in the week of Dec. 6, and have declined by $52 billion from the …
India’s forex reserves dip to nearly six-month low Read More »
By Dhwani Pandya and Arpan Chaturvedi MUMBAI (Reuters) – An Indian court on Friday dismissed a petition challenging the award of a contract to Adani Group to revamp one of Asia’s largest slums in Mumbai, clearing one of the main legal challenges to the ambitious project. The group led by billionaire Gautam Adani won a …
India court dismisses challenge to award of Mumbai slum revamp contract to Adani Read More »
By Akash Sriram (Reuters) – Zoomcar will launch a chauffeur-driven cab rental product in the southern Indian city of Bengaluru as it looks to test the waters in a larger part of the transportation market, the self-drive car-sharing platform told Reuters on Friday. The move comes months after the cash-strapped company terminated co-founder Greg Moran …
India’s Zoomcar to launch cab rental product to test demand in larger market Read More »
SINGAPORE/NEW DELHI (Reuters) – India’s Bharat Petroleum Corp Ltd has bought its first crude oil cargo from Argentina, two trade sources said on Friday, part of the company’s effort to diversify the grades processed at its refineries. The state-run refiner has purchased the 1-million-barrel cargo of Medanito crude for February delivery from European trader Mercuria, …
India’s BPCL buys first Argentinian crude oil cargo for Feb delivery, sources say Read More »
By Kashish Tandon (Reuters) -Indian shares plunged on Friday, with the benchmarks logging their first weekly decline in five weeks, as sentiment soured after the Federal Reserve projected fewer rate cuts next year, spurring an exodus of foreign funds. The Nifty 50 dropped 1.5% to 23,587.50 points at market close, while the BSE Sensex shed …
Indian equity benchmarks snap 4-week rising streak as Fed outlook hurts Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee slipped to its all-time low on Friday before turning course to end modestly higher, aided by likely dollar inflows, although its losing steak persisted into a seventh straight week. The rupee closed at 85.0150 against the U.S. dollar, up from its close at 85.07 in the …
Rupee hits record low before recovering slightly, weekly losses persist Read More »
By Nishit Navin and Nandan Mandayam BENGALURU (Reuters) -India’s non-banking finance company Shriram Finance has consolidated its green finance business under Shriram Green Finance, it said on Friday, and targeted assets under management (AUM) of 50 billion rupees ($588 million) over the next three to four years under the portfolio. The green finance vertical will …
By Rajendra Jadhav and Rahul Paswan (Reuters) – Gold demand in India remained subdued this week as volatile prices prompted potential buyers to delay purchases, while higher rates across China are expected to potentially offset upcoming seasonal demand. After gold prices became highly volatile over the past two weeks, buyers are now adopting a wait-and-see …
Asia Gold: Price fluctuation dampens demand in India Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is likely to hold near its all-time low at the open on Friday after robust U.S. data reinforced the view that the Federal Reserve will cut interest rates at a measured pace next year. The one-month non-deliverable forward indicated that the rupee will open at 85.06-85.08 …
No relief for rupee as robust US data supports Fed’s hawkish stance Read More »
By Sherin Elizabeth Varghese (Reuters) – Gold prices edged higher on Thursday, erasing earlier gains after U.S. data reinforced market expectations that the Federal Reserve will take a cautious approach to policy easing in the year ahead. Spot gold was up 0.4% at $2,598.20 per ounce as of 01:51 p.m. ET (1851 GMT) and U.S. …
Gold erases gains after US data cements Fed’s hawkish stance Read More »
