By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee closed little changed on Monday after lingering in a tight band, unable to capitalise on a broadly weaker dollar in the midst of heightened odds of a September rate cut by the Federal Reserve. The rupee closed at 83.4925 against the U.S. dollar, barely changed from …
Rupee ends little changed, forward premiums nudge higher Read More »
By Brijesh Patel (Reuters) – Gold prices fell more than 1% on Monday, hurt by a risk-on rally in equities and profit-taking by investors after a sharp rally in the previous session over expectations that the U.S. Federal Reserve could cut interest rates in September. Spot gold was down 1.5% to $2,354.59 per ounce as …
(Reuters) – India’s fuel consumption rose by 2.6% year-on-year to 19.99 million metric tons in June from a year earlier, data from the Petroleum Planning and Analysis Cell of the oil ministry showed on Monday. WHY IT IS IMPORTANT India is the world’s third-biggest oil importer and consumer. The data is a proxy for the …
By Swati Bhat and Ira Dugal MUMBAI (Reuters) -India’s central bank said on Monday the country added 46.7 million jobs in the fiscal year ended March, far exceeding numbers in private surveys that point to high unemployment rates in the South Asian nation. The employment growth rate was 6% in 2023/24 versus 3.2% in 2022/23, …
India cenbank data shows far more jobs than private surveys Read More »
COLOMBO (Reuters) – Vitol Asia and Bharat Petroleum are among eight bidders for Sri Lanka’s state-run LPG company and terminal as the island nation looks to reduce losses incurred by government-owned enterprises under a $2.9 billion International Monetary Fund (IMF) programme. The eight bidders can now submit proposals to the Sri Lankan government for the …
Vitol Asia and Bharat Petroleum among bidders for Sri Lanka LPG terminal Read More »
By Bharath Rajeswaran and Manvi Pant BENGALURU (Reuters) -Indian benchmarks closed little changed on Monday as a slide in jeweler Titan and the Bank of Baroda-led drop in lenders was offset by the rise in consumer stocks as the likes of Dabur and Marico reported a rise in demand. The blue-chip Nifty 50 and S&P …
Indian shares flat as consumer stocks offset drop in Titan, banks Read More »
MUMBAI (Reuters) -The first budget by Prime Minister Narendra Modi’s new government may tilt towards, but not pivot to welfare spending, with a focus on rural economy and job creation, economists at Goldman Sachs said in a note on Monday. The budget proposal for the financial year ending March 2025 will be presented on July …
By Rajendra Jadhav MUMBAI (Reuters) – India’s tea prices have been soaring and are expected to stay high as heatwaves and floods during the peak harvesting season slash output in key producing regions. The price rise could support the beleaguered Indian tea industry, which has been struggling with rising production costs amid a negligible rise …
India’s tea prices soar as extreme weather slashes output Read More »
LONDON (Reuters) – Britain’s new government is prioritising avoiding job losses in talks with Tata Steel over government backing for a transition to lower-carbon technologies, business minister Jonathan Reynolds said on Sunday. Tata, Britain’s biggest steel producer, started closing one of its carbon-intensive blast furnaces on Thursday while the shutdown of its other one is …
Britain prioritising jobs in Tata Steel talks – minister Read More »
(Reuters) – India’s Bandhan Bank said on Saturday it has appointed Ratan Kumar Kesh as its interim managing director and chief executive officer with effect from July 10. The Kolkata-based private bank said the appointment is for a period of three months or until a new MD & CEO takes charge. Bandhan Bank said in …
India’s Bandhan Bank appoints COO as interim CEO Read More »
