By Rajendra Jadhav MUMBAI (Reuters) – India’s refined palm oil imports are set to jump in the first quarter of 2022 after New Delhi slashed import taxes on it, making the refined product cheaper for Indian buyers than raw material crude palm oil (CPO). Higher imports of refined palm oil by India, the world’s biggest …
Duty cut could lift India’s refined palm oil imports, dent CPO purchases Read More »
By Rajendra Jadhav MUMBAI (Reuters) – India’s year-long suspension of futures trading in key farm commodities is crimping the use of risk management tools such as hedging across its food supply chain, spurring inventory cuts as forward purchases get scaled back. Monday’s halt, targeting items such as soybeans, edible oils, wheat, rice, and chickpeas as …
India’s curb on futures trade threatens food supply chain Read More »
By Chandini Monnappa BENGALURU (Reuters) – Sony’s India unit has finalised a deal with local rival Zee Entertainment to merge their television channels, film assets and streaming platforms, joining forces to take on the likes of Netflix and Disney in India. India, still heavy on direct-to-home TV entertainment, has in the past few years seen …
Sony, Zee lock India merger to create mega TV network Read More »
By Jessica DiNapoli NEW YORK (Reuters) – Wall Street closed significantly higher on Tuesday after a bruising session the prior day, with oil prices also gaining as investors sought riskier assets despite surging cases of the Omicron coronavirus variant around the world. U.S. President Joe Biden said on Tuesday he would be taking steps to …
Global stocks rise sharply with investors’ renewed risk appetite; oil settles up Read More »
By Kavya Guduru (Reuters) – Indian refiners’ crude throughput in November was the highest since February 2020, government data showed on Tuesday, as hopes of a steady uptick in demand at the world’s third-biggest oil consumer prompted refiners to operate at full capacity. Refiners processed 5.25 million barrels per day (21.48 million tonnes) last month, …
India refiners’ November crude processing at near 2-year high Read More »
BENGALURU (Reuters) -Indian shares closed higher on Tuesday after tumbling as much as 3% in the previous session, led by a surge in information technology and metal stocks, though fears over surging Omicron COVID-19 cases trimmed gains. The NSE Nifty 50 index ended 0.94% higher at 16,770.85 and the benchmark S&P BSE Sensex rose 0.89% …
Indian shares rebound after sell-off as IT, metals surge Read More »
BENGALURU (Reuters) -MapmyIndia, which powers Apple Inc’s maps in the country, was valued at 84.66 billion rupees ($1.12 billion) after surging 54% in its market debut on Tuesday, underscoring confidence in the digital map provider’s growth prospects. Shares of the company, also known as CE Info Systems, opened at 1,565 rupees before rising as high …
Digital maps provider MapmyIndia valued at $1.12 billion in stellar market debut Read More »
BENGALURU (Reuters) – SoftBank-backed Indian e-commerce platform Snapdeal filed for an initial public offering on Tuesday, joining dozens of firms in the country that have tapped the capital markets this year. Several SoftBank-backed companies and many popular names such as payments platform Paytm, beauty e-commerce retailer Nykaa and food delivery platform Zomato have sought a …
MUMBAI (Reuters) -India on Monday allowed imports of refined palm oil until December 2022, the government said in a notification, as the world’s biggest vegetable oil buyer tries to bring down edible oil prices. The move could reduce India’s crude palm oil (CPO) imports, with buyers shifting to refined palm oil as exporting countries such …
India allows refined palm oil imports until Dec 2022 Read More »
MILAN (Reuters) – Luxury sports car maker Ferrari announced plans on Monday to shake up its leadership structure, in one of new boss Benedetto Vigna’s first major moves, and said three top managers will leave the company. Those who have decided to leave include Chief Technology Officer Michael Leiters, the carmaker said. The planned reorganisation, …
Ferrari plans new leadership structure, three top manages to leave Read More »
