Reuters India Business Archives - Page 724 of 731

World coal power demand to hit new high after China, India, U.S. surge – IEA

17 Dec 2021 17 Dec 2021

SHANGHAI (Reuters) – Rising consumption in China, India and the United States could bring global coal-fired power demand to a new all-time high this year, undermining efforts to cut greenhouse gas emissions, the International Energy Agency (IEA) said on Friday. The IEA said global power generation from coal was expected to reach 10,350 terawatt-hours in …

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Indian shares end four-day losing streak on IT boost

16 Dec 2021 16 Dec 2021

By Sethuraman N R BENGALURU (Reuters) -Indian shares ended slightly higher on Thursday, helped by gains in information technology stocks, even as global markets rallied on the back of optimism induced by the U.S. Federal Reserve. The NSE Nifty 50 index ended up 0.16% at 17,248.40, while the benchmark S&P BSE Sensex rose 0.2% to …

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India’s Byju’s in talks to go public via SPAC deal at $48 billion valuation – source

16 Dec 2021 16 Dec 2021

By Chandini Monnappa BENGALURU (Reuters) -Tiger Global-backed Byju’s is in talks for a U.S. listing through a deal with veteran dealmaker Michael Klein’s blank-check firm that could value the Indian edtech firm at $48 billion, a source told Reuters on Thursday. Byju’s, which offers online education and caters to all age groups, has benefited by …

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Indian ride hailing firm Ola raises $500 million loan

16 Dec 2021 16 Dec 2021

BENGALURU (Reuters) – Indian ride-hailing company Ola said on Thursday it had raised $500 milllion loan from international institutional investors, as the SoftBank Group backed start-up preps to make its stock market debut next year. Ola, which has a majority share of India’s ride-hailing market where it competes with Uber Technologies, has plans to raise …

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India’s ShareChat raises $266 million for valuation of $3.7 billion

16 Dec 2021 16 Dec 2021

By Aditya Kalra NEW DELHI (Reuters) – Indian content-sharing platform ShareChat on Thursday said it had raised $266 million in fresh funding from U.S.-based Alkeon Capital and some existing investors, pushing its valuation to $3.7 billion. The new investments, part of ShareChat’s third funding round this year, was led by Alkeon and saw participation from …

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India’s Dec 1-15 gasoil sales rise as industries crank up, data shows

16 Dec 2021 16 Dec 2021

NEW DELHI (Reuters) – India’s gasoil sales in the first half of December rose from November and compared to the same period last year, preliminary sales data showed on Thursday, reflecting a pick up in industrial activity in the world’s third-biggest oil consumer. Gasoil sales by the country’s state fuel retailers were 2.87 million tonnes …

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Mideast share of Nov Indian oil imports at 16-mth high, African grades slip

16 Dec 2021 16 Dec 2021

By Nidhi Verma NEW DELHI (Reuters) -The share of Middle Eastern oil in India’s overall crude imports rebounded to a 16-month high in November as refiners shunned costly Brent-linked long haul grades, tanker arrival data obtained from trade sources showed. Imports of Middle Eastern oil by the world’s third biggest oil importer and consumer surged …

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India’s Reliance eyes first oil cargo from UAE trade arm in Dec -source

16 Dec 2021 16 Dec 2021

By Nidhi Verma and Florence Tan NEW DELHI/SINGAPORE (Reuters) -India’s Reliance Industries Ltd, operator of the world’s biggest refining complex at Jamnagar in Western India, aims to get the first cargo of oil from its new Abu Dhabi-based trading unit in December, a source familiar with the matter said. Billionaire Mukesh Ambani-backed Reliance group in …

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India OKs $170-million plan to promote RuPay debit cards, rivaling Visa, Mastercard

15 Dec 2021 15 Dec 2021

By Manoj Kumar NEW DELHI (Reuters) -India on Wednesday approved a 13-billion-rupee ($170 million) plan to promote domestic RuPay debit cards and low-value digital transactions to boost their use in marginalised populations, in a move that could challenge the clout of rivals like Visa and Mastercard. Under the plan, the government will pay banks a …

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India could export 6 million T sugar despite WTO ruling -trade officials

15 Dec 2021 15 Dec 2021

By Rajendra Jadhav and Mayank Bhardwaj MUMBAI/NEW DELHI (Reuters) – India could sell more than 6 million tonnes of sugar on the world market this year with a World Trade Organization ruling that it flouted the rules by offering export subsidies unlikely to have an impact on overseas sales, trade officials said. Robust sugar exports …

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