Reuters India Business

US-bound ship from Reliance’s Sikka port hits BPCL crude import facility, sources say

11 Mar 2024

By Nidhi Verma NEW DELHI (Reuters) – Oil tanker Hafnia Seine bound for the United States from Sikka port in Western India hit Bharat Petroleum Corp’s (BPCL) crude import facility in an accident late on Sunday, two sources with the knowledge of the matter said on Monday. The tanker was carrying gasoline-blending fuel known as …

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India’s Serum looks beyond COVID with new vaccines for malaria, dengue

10 Mar 2024

By Manas Mishra PUNE, India (Reuters) – The CEO of the world’s biggest vaccine maker, Serum Institute of India, said the company has bolstered its manufacturing ahead of launches over the next few years of shots against diseases like malaria and dengue by repurposing facilities used to make COVID-19 immunizations. With COVID manufacturing scaled back …

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India says Europe trade group commits to $100-billion 15-year deal

10 Mar 2024

By Manoj Kumar NEW DELHI (Reuters) -India will lift most import tariffs on industrial products from four European countries in return for investment of $100 billion over 15 years, its trade minister said, after an economic pact signed on Sunday that concluded nearly 16 years of negotiations. The deal follows trade pacts over the last …

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Factbox-Key details of India’s pact with four-nation European trade bloc

10 Mar 2024

By Manoj Kumar NEW DELHI (Reuters) – India signed a free trade pact on Sunday with a group of European nations – Switzerland, Norway, Iceland and Liechtenstein – committing to reduce tariffs, while New Delhi receives $100 billion in investments over the next 15 years. India and the members of the European Free Trade Association …

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India widens inquiry into public debt issue subscriptions, sources say

8 Mar 2024

By Jayshree P Upadhyay and Dharamraj Dhutia MUMBAI (Reuters) – India’s financial market regulator and its central bank are widening an investigation into how merchant banks manage retail subscriptions in public debt issues, two sources with direct knowledge of the matter told Reuters. The Securities and Exchange Board of India (SEBI) barred JM Financial from …

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Gold surge could dull Indian wedding season demand; China outlook robust

8 Mar 2024

By Ashitha Shivaprasad and Rajendra Jadhav (Reuters) -A surge in global gold prices to record highs could dampen consumption during the wedding season in India, but top buyer China will see robust safe-haven demand this year, analysts and traders said. China and India together account for more than half of total global gold demand. Benchmark …

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Indian banks’ loans rose 20.5% y/y in two weeks to Feb 23 – central bank

8 Mar 2024

March 8 (Reuters) – Indian banks’ loans rose 20.5% in the two weeks to Feb. 23 from a year earlier, while deposits rose 13.1%, the Reserve Bank of India’s weekly statistical supplement showed on Friday. Outstanding loans rose 598.86 billion rupees ($7.24 billion) to 162.07 trillion rupees in the two weeks to Feb. 23. Non-food …

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Small-caps lead India equity mutual fund inflows to near 2-year high in Feb – data

8 Mar 2024

By Bharath Rajeswaran BENGALURU (Reuters) – Inflows into India’s equity mutual funds rose to their highest in nearly two years in February, with small-caps leading the charge despite valuation concerns, data from an industry body showed on Friday. Net equity mutual fund inflows rose 23.34% sequentially to 268.66 billion rupees ($3.25 billion), the highest since …

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India, four-nation European bloc to sign trade deal on March 10 – Economic Times

8 Mar 2024

(Reuters) – India and a small group of European nations are likely to sign a trade pact on March 10 in which New Delhi has sought a $100 billion investment commitment from the bloc, the Economic Times reported on Friday. The European Free Trade Association (EFTA) – which includes Norway, Iceland, Liechtenstein and Switzerland, nations …

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