By Nidhi Verma NEW DELHI (Reuters) – Russia became the fourth-largest oil supplier to India in April, with volumes set to rise further in coming months as low prices spur demand from the world’s No. 3 oil consumer and importer, tanker tracking data showed. Russia’s share in India’s oil purchases rose to a record 6%, …
Russia jumps to 4th position as oil supplier to India – tanker data Read More »
By Manoj Kumar and Aftab Ahmed NEW DELHI (Reuters) – India’s wholesale prices accelerated at the fastest pace since at least April 2005, according to Refinitiv data, as the Ukraine war and a weak rupee pushed up energy and raw material costs for companies. Annual wholesale price inflation, a proxy for producers’ prices, climbed to …
India’s April WPI inflation accelerates to 17-year high Read More »
By P.J. Huffstutter CHICAGO (Reuters) -Chicago wheat futures hit the daily 70-cent trading limit cap on Monday after India banned exports of the grain, an abrupt policy change that fanned concerns about global supplies strained by Russia’s invasion of Ukraine. The wheat rally sent spillover strength to corn futures, as global buyers, who were banking …
Chicago wheat surges to daily trading limit as India bans exports Read More »
By Ashitha Shivaprasad (Reuters) – Gold rose slightly on Monday as a retreat in U.S. Treasury yields offset headwinds from a relatively firm dollar, which, along with looming interest rate hikes, earlier pushed bullion to a more than three-and-a-half-month low. Spot gold rose 0.3% to $1,817.12 per ounce by 1:52 p.m. ET (1752 GMT), after …
Gold ticks up as dip in U.S. yields loosens dollar’s grip Read More »
(Reuters) -Indian conglomerate Adani Group plans to buy Holcim AG’s cement businesses in India for $10.5 billion, its largest-ever acquisition, to become the country’s No. 2 cement manufacturer. Adani Group, owned by billionaire Gautam Adani, currently has no cement-making operations but said the firms were a good fit given its ports and logistics, energy and …
Adani to become India’s No. 2 cement maker with $10.5 billion Holcim deal Read More »
BENGALURU (Reuters) -Indian shares closed higher on Monday after six consecutive sessions of losses, driven by gains in Eicher Motors, and some cement stocks after Adani Group announced a $10.5 billion deal that will make it the second-biggest cement producer in the country. The NSE Nifty 50 index gained 0.38% to 15,842.30 at close, and …
Indian shares end 6-day losing streak; Eicher, Ambuja rise Read More »
By John Revill ZURICH (Reuters) – Holcim will use cash raised from the sale of its Indian business for acquisitions focused on building products and solutions, Chief Executive Jan Jenisch said on Monday, with the cement-maker currently eyeing 10 potential targets. Holcim agreed to sell its Indian business to Adani Group for 6.4 billion Swiss …
Holcim to use proceeds from India sale on lower carbon acquisitions Read More »
(Reuters) – Cryptocurrency exchange FTX’s founder has said that bitcoin has no future as a payments network and criticized the digital currency for its inefficiency and high environmental costs, the Financial Times reported on Monday. Bitcoin, the world’s largest cryptocurrency, is created by a process called “proof of work” that requires computers to “mine” the …
FTX’s billionaire chief says bitcoin has no future as a payments network- FT Read More »
By Rajendra Jadhav, Mayank Bhardwaj and Nigam Prusty MUMBAI (Reuters) -India banned wheat exports on Saturday days after saying it was targeting record shipments this year, as a scorching heat wave curtailed output and domestic prices hit a record high. The government said it would still allow exports backed by already issued letters of credit …
India bans wheat exports as heat wave hurts crop, domestic prices soar Read More »
CAIRO (Reuters) – Any agreements by Egypt’s government to purchase Indian wheat will not be affected by an export ban announced by New Delhi, Egypt’s supply minister said on Sunday. “For India, we are talking with them on the basis of a government agreement. The ban exempts governments including the government of Egypt,” minister Ali …
Egypt says government purchases exempted from India’s wheat exports ban Read More »
