NEW DELHI (Reuters) – NTPC Ltd’s $2.81 billion coal-fired power plant, which is currently under construction in India, may face supply issues from Russian entities, India’s power minister said on Thursday. The 2,000-megawatt project being built in the eastern state of Bihar depends on Russian entities for materials as well as technical advice, Raj Kumar …
MUMBAI (Reuters) – India has raised the base import prices of palm oil and soyoil, the government said in a statement late on Thursday, as prices jumped in overseas markets. The government revises base import prices of edible oils, gold, and silver every fortnight, and the prices are used to calculate the amount of tax …
India sharply raises base import prices of palm oil, soyoil Read More »
By Sudarshan Varadhan NEW DELHI (Reuters) -India’s electricity shortage from March 1 to March 30 was its worst since October 2021, a Reuters analysis of government data showed, driven by a surge in demand. As generators strive to meet requirements, a fall in the national coal inventory is forcing the government to withold supply to …
India’s March electricity shortage is the worst since coal crisis in Oct Read More »
LONDON (Reuters) – GFG Alliance, owned by commodities tycoon Sanjeev Gupta, has appointed Sandip Biswas, a former executive with Tata Steel, as chief investment officer, the company said on Thursday. Gupta’s family conglomerate, GFG, made the appointment as it continues to arrange financing to rescue his businesses in steel, aluminium and energy after supply-chain finance …
GFG Alliance appoints Tata Steel executive as chief investment officer Read More »
By Asha Sistla (Reuters) – Gold prices fell in range-bound trade on Thursday, although the safe-haven metal was set for its biggest quarterly gain since September 2020, as the Russia-Ukraine conflict dampened risk appetite and lifted bullion’s appeal. Spot gold was down 0.3% at $1,928.30 per ounce by 0714 GMT. U.S. gold futures fell 0.4% …
Gold eyes best quarter in six as Ukraine crisis lifts appeal Read More »
By Aditya Kalra NEW DELHI (Reuters) – India’s top retailer, Reliance, has privately defended an abrupt takeover of the stores of debt-laden rival Future Retail, saying mounting dues of $634 million compelled it to act beyond expectations, a company letter shows. The takeover was part of the race to dominate a $900-billion retail sector that …
India’s Reliance defends takeover of Future stores in letter Read More »
By Nidhi Verma NEW DELHI (Reuters) -A significant increase in Russian oil imports by India could expose New Delhi to a “great risk” as the United States prepares to step up enforcement of sanctions against Moscow for its invasion of Ukraine, a senior U.S. administration official said. While the current U.S. sanctions against Russia do …
U.S. warns India, others against sharp rise in Russian oil imports -official Read More »
By Brijesh Patel (Reuters) – March 30 (Reuters) – Gold prices rose nearly 1% on Wednesday, supported by a retreat in the U.S. dollar and renewed doubts about the possibility of a ceasefire between Russia and Ukraine. Spot gold XAU= was up 0.7% at $1,932.14 per ounce by 03:26 p.m. EDT (1926 GMT). U.S. gold …
Gold gains 1% as dollar slips, Ukraine optimism wanes Read More »
By Aditya Kalra and Aditi Shah NEW DELHI (Reuters) -India’s antitrust agency on Wednesday raided offices of tyre companies including Germany’s Continental AG and India’s Apollo Tyres and CEAT in a case of suspected competition law violations, four sources told Reuters. Shares of Apollo, one of India’s biggest tyre makers, fell as much as 3% …
India conducts antitrust raids on tyre companies Apollo, Ceat, Continental – sources Read More »
MILAN (Reuters) – Generali has completed a deal to become the majority shareholder in its Future Generali India Life (FGIL) joint venture, the Italian insurer said on Wednesday. Generali has paid some 26 million euros ($29 million) for a stake of around 16% held by Industrial Investment Trust Limited (IITL) in the Indian business and …
Italy’s Generali becomes majority shareholder in India Life JV Read More »
