Reuters India Business

PDVSA, Reliance resume oil swap under US authorization, document shows

By Marianna Parraga HOUSTON (Reuters) -Venezuela’s state oil company PDVSA and India’s Reliance Industries have resumed an oil swap that had been paused due to U.S. sanctions on the South American country, an internal PDVSA document seen on Thursday showed. Reliance and other Indian refiners had imported Venezuelan oil earlier this year under a broad …

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India antitrust body raids Pernod, AB InBev in liquor industry crackdown, sources say

By Aditya Kalra NEW DELHI (Reuters) -India’s antitrust body has raided some offices of alcohol giants Pernod Ricard and Anheuser-Busch InBev as it investigates accusations of price collusion with retailers in a southern state, sources familiar with the matter said. Wednesday’s surprise raids by the Competition Commission of India (CCI) targeted offices in the city …

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Indian government proposes prison terms, fines for illegal lending

By Nikunj Ohri NEW DELHI (Reuters) – The Indian government is seeking to clamp down on unregulated lending with a proposed law that would impose prison terms of up to seven years and fines for unauthorised loans, including those through digital platforms. A draft law seen by Reuters follows stepped-up Indian government scrutiny since 2022 …

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Indian shares decline as Fed’s hawkish outlook spooks investors

By Hritam Mukherjee and Kashish Tandon (Reuters) – Indian shares fell on Thursday after the Federal Reserve forecast fewer interest rate cuts in 2025, souring risk appetite and raising concerns of further outflows, particularly from foreign investors. The Nifty 50 declined 1.02% to 23,951.7 points, while the BSE Sensex dropped 1.2% to 79,218.05, with both …

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India’s Bharti Airtel clears 2016 spectrum dues

(Reuters) -Indian telecom carrier Bharti Airtel has made an early payment of 36.26 billion rupees ($426.4 million) to the Indian government, the company said on Thursday, settling all its liabilities for the spectrum acquired in 2016. India’s No. 2 wireless carrier had paid 84.65 billion rupees towards the liabilities in September. Indian telecom operators owe …

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Indian states must set glide path for fiscal consolidation, says central bank report

MUMBAI (Reuters) – Indian state governments must have clear and time-bound glide paths for fiscal consolidation with transparent and uniform reporting of liabilities, given the elevated debt levels, the Reserve Bank of India (RBI) said in a report on Thursday. States should also focus on expenditure efficiency with outcome and climate budgets, the RBI said …

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Rupee falls below 85/USD as Fed’s hawkish shift rattles Asian currencies

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee weakened past 85 per dollar on Thursday, hitting an all-time low as the Federal Reserve’s scaling back of its rate cut projections for 2025 battered Asian currencies. The rupee hit a low of 85.0850 against the U.S. dollar before closing at 85.07, down 0.1% on the …

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Italy’s FILA raises $95 million from sale of shares in Indian unit

(Reuters) – Italian stationery maker FILA has completed the sale of around 4.57% of the outstanding shares in its Indian unit DOMS, raising the equivalent of 90.9 million euros ($94.6 million), it said on Thursday. Through an accelerated bookbuilding process, FILA sold around 2.7 million shares at 2,879.29 Indian rupees ($33.84)each, equal to around 32.8 …

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