NEW DELHI (Reuters) – India approved signing a 5-year memorandum of understanding (MoU) with Guyana to cooperate in the hydrocarbon sector as the South Asian nation looks to diversify its oil import sources. The proposed agreement will cover areas such as sourcing of crude oil from the South American nation, participation of Indian companies in …
BENGALURU (Reuters) – India’s quasi-sovereign wealth fund, the National Investment and Infrastructure Fund Limited (NIIFL), named Sanjiv Aggarwal as its CEO and Managing Director (MD) on Friday. Aggarwal brings “significant experience” in the infrastructure and energy sectors and takes over from Rajiv Dhar, who has been serving as the interim CEO and MD since May …
India’s sovereign fund NIIFL appoints Sanjiv Aggarwal as CEO Read More »
(Reuters) – U.S. asset manager Invesco has raised the valuation of Indian food delivery platform Swiggy to $8.3 billion from $7.85 billion in October in a second straight markup, regulatory filings showed. The valuation hike comes as the Softbank-backed company prepares for its stock market debut later this year. In September, it resumed talks with …
Invesco raises valuation of Indian food delivery firm Swiggy to $8.3 billion Read More »
By Nandan Mandayam (Reuters) -Brookfield Asset Management will buy American Tower Corp’s (ATC) loss-making Indian operations for $2.5 billion, it said Friday, becoming the country’s largest operator of telecom towers amid booming demand for data and wider use of 5G services. The acquisition is the biggest of Brookfield’s three telecom-related deals in the roughly four …
Brookfield to buy ATC India for $2.5 billion, become country’s top telecom tower firm Read More »
NEW DELHI (Reuters) – State-run GAIL (India) Ltd has signed a long-term deal with trader Vitol for an annual purchase of about 1 million metric tons of liquefied natural gas (LNG) for 10 years from 2026, the Indian company said in a statement on Friday. (Reporting by Nidhi Verma; Editing by Christian Schmollinger)
By Siddhi Nayak and Dharamraj Dhutia MUMBAI (Reuters) – Diminishing lure for perpetual bonds is likely to prompt Indian state-run banks switch to the equity market for raising funds in coming months, five banking sources told Reuters this week. Indian banks, including top lender State Bank of India, have raised around 87 billion rupees ($1.05 …
Indian state-run banks may look to equity fundraising as perpetual bonds lose sheen Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -India’s benchmark indexes rose for the second session in a row on Friday, led by a jump in auto and IT stocks, while Macrotech Developers’ robust sales boosted the realty sector. The blue-chip NSE Nifty 50 rose 0.12% to 21,684.80 points, while the S&P BSE Sensex added 0.13% to 71,933, …
By Shaloo Shrivastava BENGALURU (Reuters) – India’s services sector ended 2023 on a firm footing, with activity expanding at its fastest pace in three months in December on buoyant demand and an optimistic year-ahead outlook, a private survey showed. The HSBC India Services Purchasing Managers’ Index, compiled by S&P Global, rose sharply in December to …
India’s services growth at three-month high in Dec on buoyant demand -PMI Read More »
By Nidhi Verma NEW DELHI (Reuters) -India paid an average of $85.42 per barrel for Russian oil in November, the highest since the Group of Seven (G7) advanced economies imposed a price cap of $60 per barrel to cut Moscow’s revenue, preliminary government data shows. India paid 1.4% more for Russian oil in November compared …
Russian November oil price for India hit 12-mth high Read More »
By Sherin Elizabeth Varghese (Reuters) – Gold held steady on Thursday after four sessions of decline as investors braced for the U.S. non-farm payrolls data that could influence the Federal Reserve’s interest-rate path, while palladium prices slipped on a dim long-term demand outlook. Spot gold edged up 0.2%, to $2,044.39 per ounce by 2:50 p.m. …
Gold gets a breather as US payrolls loom; palladium slips Read More »
