By Deep Kaushik Vakil (Reuters) – Gold scaled a three-week peak on Wednesday as traders bought zero-yield bullion in anticipation of U.S. interest-rate cuts next year, while a dip in the dollar and bond yields also supported prices. Spot gold was up 0.5%, at $2,076.45 per ounce – its highest since Dec. 4 – by …
Gold hits three-week high on hopes of US Fed cutting rates Read More »
By Swati Bhat MUMBAI (Reuters) – Indian banks’ gross non-performing asset (GNPA) ratio continued to improve in the second quarter of the current financial year, easing to a fresh decadal low, a Reserve Bank of India report published on Wednesday showed. The improvement in the asset quality of banks that began in 2018-19 continued into …
Indian banks’ asset quality improves to decadal high at end-Sept – cenbank Read More »
By Manvi Pant and Rama Venkat BENGALURU (Reuters) – India’s benchmark indexes resumed their record-breaking run on Wednesday, boosted by a global rally on renewed optimism that the U.S. central bank would start cutting rates by as soon as next March. The blue-chip NSE Nifty 50 and the S&P BSE Sensex both hit all-time highs …
Indian stocks resume record-breaking rally on rate cut optimism Read More »
MUMBAI (Reuters) – Adani Energy Solutions has formed a joint venture with a company backed by Abu Dhabi’s International Holding Company (IHC) to grow its smart meter business in India and globally, the company said in statement on Wednesday. The Indian power distribution company said its subsidiary acquired 49% stake in UAE-based Esyasoft Holdings, which …
Adani Energy forms JV with IHC-backed firm to expand smart-meter business Read More »
MUMBAI (Reuters) – Adani Energy Solutions plans to spend $360 million to build a transmission line to connect a solar and wind energy park in the western Indian state of Gujarat with the power grid. Adani Energy acquired Halvad Transmission, a renewable energy transmission network project in Gujarat, through a bidding process from PFC Consulting, …
Adani Energy to spend $360 million to build Gujarat power transmission line Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee weakened on Wednesday, pressured by dollar demand from large foreign banks, even as most of the local unit’s Asian peers ticked higher. The rupee was at 83.2475 against the U.S. dollar as of 10:00 a.m. IST, lower by 0.07% compared to its close of 83.1925 in …
Rupee edges lower due to dollar demand from foreign banks Read More »
By Deep Kaushik Vakil (Reuters) – Gold consolidated gains on Tuesday, extending its climb for a third session on a weaker dollar and Treasury yields in a slow final week of the year, with traders expecting the Federal Reserve to cut U.S. interest rates in early 2024. Spot gold rose 0.3% to $2,059.79 per ounce …
Gold firms on bets for early 2024 start to US rate cuts Read More »
NEW DELHI (Reuters) – India said on Tuesday it had signed agreements with Russia for future units of the Kudankulam Nuclear Power Project in the southern state of Tamil Nadu. Foreign minister Subrahmanyam Jaishankar, who is on a visit to Russia, is expected to hold talks with his Russian counterpart Sergei Lavrov on Wednesday, and …
India, Russia sign deal for future units at nuclear power plant Read More »
By Swati Bhat MUMBAI (Reuters) -India’s current account deficit narrowed more than expected in the July-September quarter largely due to a lower merchandise trade deficit while services exports also grew, the central bank said in a statement on Tuesday. The current account deficit stood at $8.3 billion, or 1% of GDP, in the second quarter …
India’s current account gap narrows, BoP in surplus in Q2 FY24 – cenbank Read More »
By Manvi Pant BENGALURU (Reuters) -Indian benchmarks settled higher on Tuesday lifted by gains in energy and metal companies, with rising expectations of interest rate cuts in the United States boosting global markets. The benchmark NSE Nifty 50 index gained 0.43% to 21,441.35 points, while the S&P BSE Sensex settled 0.32% higher at 71,336.80 points. …
Metals, energy stocks power gains in Indian benchmarks Read More »
