By Manoj Kumar and Neha Arora NEW DELHI (Reuters) -Indian plans to file a complaint to the World Trade Organisation over the European Union’s proposal to impose 20% to 35% tariffs on imports of high-carbon goods like steel, iron ore and cement from India, top government and industry sources said. This is part of New …
India plans to challenge EU carbon tax at WTO -sources Read More »
(Reuters) – The European Union should crack down on India reselling Russian oil into Europe as refined fuel, including diesel, EU foreign policy chief Josep Borrell said in an interview with the Financial Times published on Tuesday. India has emerged in the past year as a top buyer of Russian oil following Moscow’s invasion of …
Borrell urges EU to crack down on imports of Indian fuels made with Russian oil -FT Read More »
By Deep Kaushik Vakil (Reuters) – Gold fell below $2,000 on Tuesday after U.S. economic data and hawkish remarks from Federal Reserve officials drove bets that interest rate cuts may be delayed, while traders kept an eye on the U.S. debt-ceiling talks. Spot gold shed 1.6% to $1,987.39 per ounce by 1:40 p.m. EDT (1740 …
Gold retreats as US data, Fedspeak sow doubts on rate cuts Read More »
BENGALURU (Reuters) – Indian real-estate developer Oberoi Realty Ltd said on Tuesday fourth-quarter profit more than doubled, boosted by strong bookings as the demand for housing saw an upswing in the country. The company reported a consolidated net profit of 4.80 billion rupees ($58.69 million) for the quarter ended March 31 from 2.32 billion rupees …
India’s Oberoi Realty says Q4 profit more than doubles on soaring demand Read More »
BENGALURU (Reuters) – Jindal Steel and Power Ltd reported a 69.5% fall in quarterly profit on Tuesday, hurt by lower steel prices and higher costs of raw materials like iron. India’s steel industry, already grappling with a slump in prices, was also hit with an export tax on certain steel intermediaries last year, which was …
India’s Jindal Steel’s Q4 profit down 70% as prices fall, expenses rise Read More »
By Nidhi Verma NEW DELHI (Reuters) -India’s Reliance Industries Ltd has turned its sights on the domestic market, offering a high-performance diesel at a lower price than fuel sold by state-owned retailers, the operator of the world’s biggest refining complex said on Tuesday. Jio-bp, the retail fuel joint venture of Reliance and bp will sell …
Reliance courts Indian diesel market with cheaper supply Read More »
By Ira Dugal MUMBAI (Reuters) – The Indian government-backed National Bank for Financing Infrastructure and Development (NaBFID) expects to sanction close to 1 trillion rupees ($12.23 billion) in loans this financial year, its top executive told Reuters on Tuesday. The infrastructure lender, which started operations last year, has sanctioned in-principle loans worth 450 billion rupees …
India’s newest infra lender to loan 1 trillion rupees this fiscal -official Read More »
BENGALURU (Reuters) -Indian Oil Corp Ltd (IOC), the country’s top refiner, reported its first rise in profit in five quarters on Tuesday, as cooling crude prices bolstered its refining margins, sending its shares to their highest in more than one year. The state-owned company’s profit rose to 100.59 billion rupees ($1.23 billion) in the January-to-March …
Indian Oil posts first profit increase in five quarters as crude prices cool Read More »
By Siddhi Nayak MUMBAI (Reuters) – The Indian Banks’ Association has asked the country’s central bank to give lenders more time to switch to provisioning for bad loans using the expected credit loss (ECL) method, its chief said on Tuesday. The Reserve Bank of India had, in January, released a discussion paper suggesting banks switch …
Indian lenders seeks more time to switch loan provisioning method Read More »
(Reuters) – India has cut windfall tax on petroleum crude to zero from 4,100 rupees ($50.13) per tonne, effective May 16, according to a government notification. It left the windfall tax on petrol, diesel and aviation turbine fuel (ATF) unchanged at zero. On May 1, the levy on petroleum crude was lowered to 4,100 rupees …
