By Munsif Vengattil and Akash Sriram BENGALURU (Reuters) – India will provide support for companies looking to invest in semiconductor manufacturing, Prime Minister Narendra Modi said on Friday, as the South Asian nation sets its sights on becoming a key player in the global supply chain for chips. Even as more firms and countries seek …
India woos semiconductor makers in quest to become key player Read More »
By Rajendra Jadhav and Mayank Bhardwaj INDORE/SARANGPUR, India (Reuters) -For the first season in over a decade, Indian farmer Rajensingh Pawar is selling his new wheat crop to private traders instead of the state stockpiler, as a global wheat price rally gives India’s suppliers a rare profitable export window. Strong demand following Russia’s invasion of …
India’s wheat export boom brings a bonanza to farmers, and budget relief Read More »
BENGALURU (Reuters) -Indian auto component maker Varroc Engineering said on Friday it will sell its four-wheeler lighting system operations in the Americas and Europe to France’s Compagnie Plastic Omnium for 600 million euros ($630.96 million). Varroc’s shares were trading up 20% at 493.85 rupees. The company, which will retain its 4-wheeler lighting operations in Asia, …
Varroc Engineering to sell Europe, Americas 4-wheeler lighting business for $631 million Read More »
By Nidhi Verma NEW DELHI (Reuters) -India has asked state-run energy companies to evaluate the possibility of buying European oil major BP’s stake in sanctions-hit Russian firm Rosneft, two people familiar with the matter said. BP has announced it is abandoning its 19.75% stake in Rosneft. The oil ministry last week conveyed its intent to …
India asks state firms to consider buying Russian oil assets Read More »
By Aditya Kalra NEW DELHI (Reuters) -French spirits giant Pernod Ricard urged India on Thursday to drop its high tax on imported liquor, saying the tariff puts many of its drinks out of reach of consumers. The 150% tax on imported liquor has long been a sore point for the industry, and poses a “large …
Pernod says India should drop its high foreign liquor taxes Read More »
By Karen Brettell NEW YORK (Reuters) – The dollar hit a 20-year high against rivals on Thursday as the Bank of Japan doubled-down on its dovish policy, sending the yen to its weakest level since 2002, while the euro hit a five-year low on growth concerns for the region. The dollar shot past the key …
Dollar hits 20-yr high as yen tumbles on dovish Bank of Japan Read More »
By Laura Sanicola NEW YORK (Reuters) -Oil prices rallied on Thursday after reports that Germany is no longer opposed to an embargo on Russian oil, which could further tighten supplies in the already stressed global crude market. Traders were reacting to media reports of comments on Tuesday from Germany’s Economy Minister Robert Habeck, who said …
Oil prices rally on report that Germany drops opposition to Russian oil embargo Read More »
By Krishna N. Das NEW DELHI (Reuters) – India will on Friday launch an open network for digital commerce (ONDC) as the government tries to end the dominance of U.S. companies Amazon.com and Walmart in the fast-growing e-commerce market, a government document showed. The launch of the platform comes after India’s antitrust body on Thursday …
India to launch open e-commerce network to take on Amazon, Walmart Read More »
By Ashitha Shivaprasad (Reuters) – Gold prices inched lower on Thursday, hovering close to a 10-week trough touched earlier, as a robust dollar overshadowed jitters over contraction in U.S. economic growth in the first quarter. Spot gold was down 0.1% at $1,885.11 at 1620 GMT. It hit $1,871.81, its lowest level since Feb. 17 earlier …
Gold hovers close to 10-week low on dollar advance Read More »
By Sudarshan Varadhan NEW DELHI (Reuters) -India is facing its worst electricity shortage in more than six years just as scorching temperatures force early closures of schools and send people indoors. Extreme heat parched large swathes of South Asia this week after India’s hottest March on record, prompting Prime Minister Narendra Modi to warn of …
India sweats over worst power cuts in six years during extreme heat Read More »
