MUMBAI (Reuters) – Indian rupee hit a one-month high against the U.S. currency on Wednesday led by likely corporate dollar inflows, five traders said. The rupee hit the day’s high of 82.1250 to the dollar, its highest since May 12, and was up 0.3% at 1:55 p.m. IST. It had ended at 82.3675 in the …
Rupee hits one-month high on likely corporate dollar inflows – traders Read More »
BENGALURU (Reuters) – Indian steel-making company Tata Steel on Wednesday said 18 people were injured, with two in intensive care, after a steam leak at its Odisha power plant. The company, a part of India’s Tata Group conglomerate, reported on Tuesday the accident occurred at its Meramandali BFPP2 power plant in Dhenkanal, Odisha during an …
India’s Tata Steel says 18 people hospitalized after steam leak at Odisha plant Read More »
By Shivangi Acharya and Nikunj Ohri NEW DELHI (Reuters) -India’s annual wholesale prices fell for the second consecutive month in May on easing input costs brought about by lower commodity prices, government data showed on Wednesday. The wholesale price index (WPI) fell 3.48%, compared with a 2.35% fall estimated by economists in a Reuters poll. …
MOSCOW (Reuters) – Russia’s dominant lender on Wednesday said individuals could now open accounts in Indian rupees, expanding the range of foreign currencies available as Moscow strives to reduce dependency on the U.S. dollar and euro. “As Sberbank has highlighted, the bank supports the trend of de-dollarisation and constantly increases the number of foreign currencies …
Russia’s Sberbank launches rupee accounts for individuals Read More »
By Deep Kaushik Vakil (Reuters) – Gold slipped on Tuesday as Treasury yields rebounded, while traders firmed up bets the Federal Reserve would stand pat on interest rates after data showed U.S. consumer price gains slowed in May. Spot gold fell 0.7% to $1,942.59 per ounce by 01:53 p.m. EDT (1753 GMT), after rising as …
Gold dips as US yields tick higher, spotlight on Fed Read More »
By Siddhi Nayak MUMBAI (Reuters) – Two of India’s largest bank employee unions on Tuesday urged the central bank to review and withdraw its recent decision to allow compromise settlements for wilful defaulters saying that such a move would hurt the integrity of the banking system. Last week, the Reserve Bank of India (RBI) released …
India bank unions ask RBI to withdraw compromise settlement for wilful defaulters Read More »
(Corrects to 14 sectors from 15 sectors in paragraph 2) By Shivangi Acharya NEW DELHI (Reuters) – India will review its production-linked incentive (PLI) scheme at the end of this month to improve utilisation in sectors that are lagging behind, a trade ministry official said on Tuesday. The PLI scheme, which is Prime Minister Narendra …
India to review production incentive scheme this month-end Read More »
BENGALURU (Reuters) – Zee Group’s promoters Subhash Chandra and Punit Goenka moved the Securities Appellate Tribunal (SAT) on Tuesday, challenging the Indian markets regulator’s order that banned them from holding board positions in listed companies, sources privy to the information said. The bench has posted the matter for further hearing on Thursday, the sources said. …
Zee Group promoters appeal over India market regulator ban – sources Read More »
NEW DELHI (Reuters) – As India prepares for a powerful cyclone that is likely to hit its west coast this week, the government has directed all offshore oil installations to ensure the immediate return of all staff and advised ports to also take preventive action. With many oil and container ports stopping cargo operations in …
Factbox-Operations at rigs and ports impacted as India prepares for cyclone Read More »
By Aditi Shah and Aditya Kalra NEW DELHI (Reuters) -New Delhi city authorities will start impounding the bike taxis of companies such as Uber and local rival Ola if they do not cease operations in line with a court order backing a ban on them, a senior government official told Reuters on Tuesday. India’s top …
New Delhi city to impound bike taxis if Uber, Ola do not comply with ban Read More »
