By Karen Brettell NEW YORK (Reuters) -The dollar gained on Wednesday after Federal Reserve Chair Jerome Powell pushed back against market pricing for another rate cut at the U.S. central bank’s December meeting, after the U.S. central bank lowered rates as expected. Wednesday’s rate cut drew dissents from two policymakers, with Governor Stephen Miran again …
Powell’s comments curb December rate cut bets, boosting dollar Read More »
By Noel John and Anjana Anil (Reuters) – Gold prices pared gains on Wednesday as markets digested comments from U.S. Federal Reserve Chair Jerome Powell regarding the future policy path, despite the central bank cutting interest rates by a widely expected quarter percentage point. Spot gold was up 0.3% at $3,964.39 per ounce, as of …
Gold pares gains after Fed Powell’s comments despite rate cut Read More »
By Hritam Mukherjee (Reuters) -Indian refiner HPCL-Mittal Energy said on Wednesday it has stopped purchasing Russian oil, shortly after the Financial Times reported the company bought Russian oil transported on blacklisted ships. Last week, the U.S. and Europe imposed a raft of fresh sanctions on Russian oil, with Washington targetting the country’s top oil producers …
Steel tycoon Mittal’s part-owned Indian refiner stops buying Russian oil Read More »
(Reuters) -Kingfisher beer maker United Breweries reported a decline in quarterly profit on Wednesday, hurt by higher excise duties and tepid demand. The company, India’s largest beer maker, posted a 64.5% fall in profit to 469.5 million rupees ($5.3 million) for the quarter ended September 30, from a year ago. United Breweries, which is majority-owned …
India’s United Breweries reports profit fall on higher levies, tepid demand Read More »
By Sethuraman N R and Hritam Mukherjee NEW DELHI/BENGALURU (Reuters) -India’s Larsen & Toubro said on Wednesday it was well placed to surpass its 10% annual order growth forecast, after its second-quarter profit rose on stronger execution of overseas orders and consistent order inflows. L&T, seen as a bellwether for India’s infrastructure sector, has been …
India’s L&T posts profit rise, forecasts annual order outlook beat Read More »
(Reuters) -India’s PB Fintech posted a more than two-fold jump in second-quarter profit on Wednesday, as its digital insurance business, Policybazaar, benefitted from increased demand for insurance products online. Consolidated net profit for the firm, which also operates credit marketplace Paisabazaar, surged 164.6% to 1.35 billion rupees ($15.3 million) in the quarter ended September 30 …
India’s Policybazaar parent’s profit more than doubles on online insurance growth Read More »
MUMBAI (Reuters) -The rising popularity of U.S. dollar stablecoins will be an important phenomenon next year and could raise challenges for monetary policy globally, India’s Chief Economic Adviser V. Anantha Nageswaran said on Wednesday. “The presence of a dollar stablecoin will bring with it its own challenges for monetary policy, monetary transmission and for seigniorage …
(Reuters) -India’s central bank on Wednesday proposed measures to make it easier and faster for people and businesses to receive money from abroad, aiming to cut delays between when a bank gets the payment and when it reaches the recipient’s account. “One of the challenges with speed of cross-border payments is the delay between receipt …
India’s central bank proposes steps to speed up cross-border payment inflows Read More »
By Abhijith Ganapavaram NEW DELHI (Reuters) -India’s Akasa Air aims to go public in the next two to five years and plans to restart hiring pilots in the second half of next year, its chief executive said on Wednesday. Loss-making Akasa, India’s third largest airline, has not had enough work for pilots due to delayed …
India’s Akasa Air targets IPO in 2-5 years, to restart pilot hiring Read More »
By Sethuraman N R (Reuters) -Indian solar module manufacturer Solex Energy will invest $1.5 billion over the next five years to expand manufacturing as it targets exports to the United States, a top executive told Reuters on Wednesday. Solex currently operates a 4-gigawatt module manufacturing facility in the western state of Gujarat and plans to …
India’s Solex Energy to invest $1.5 billion in solar manufacturing, eyes US exports Read More »
