Reuters India Business Archives - Page 913 of 1191

India’s heatwaves putting economy, development goals at risk – study

19 Apr 2023 19 Apr 2023

SINGAPORE (Reuters) – Killer heat waves are putting “unprecedented burdens” on India’s agriculture, economy and public health, with climate change undermining the country’s long-term efforts to reduce poverty, inequality and illness, a new study showed. Extreme heat has caused more than 24,000 deaths since 1992 and has also driven up air pollution and accelerated glacial …

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Gold slides as yields climb, doubts grow about Fed’s rate-hike pause

19 Apr 2023 19 Apr 2023

By Deep Kaushik Vakil (Reuters) – Gold prices fell below the key $2,000 level on Wednesday as U.S. yields marched higher, with investors turning sceptical about potential U.S. rate cuts later this year. Spot gold was down 0.5% at $1,994.02 per ounce by 1:40 p.m. ET (1740 GMT), having shed as much as 1.8% to …

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India’s Adani Ports to consider buyback of debt securities

19 Apr 2023 19 Apr 2023

BENGALURU (Reuters) – India’s Adani Ports and Special Economic Zone, a group company of the beleaguered Adani Group, said on Wednesday it will consider its first and a partial buyback of certain of the company’s debt securities at a board meeting on April 22. Adani Ports will consider the buyback of the securities, which will …

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India’s Tata Group seeks antitrust approval for Air India-Vistara merger

19 Apr 2023 19 Apr 2023

NEW DELHI (Reuters) – Indian conglomerate Tata Group has sought the competition regulator’s approval for a merger between its Air India airline and Vistara, the company’s joint venture with Singapore Airlines (SIA). The merger, announced in November, will create a stronger rival to India’s dominant carrier IndiGo and help SIA solidify its foothold in one …

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Apple CEO meets India PM Modi, commits to growth and investment

19 Apr 2023 19 Apr 2023

NEW DELHI (Reuters) – Apple Inc Chief Executive Officer Tim Cook on Wednesday committed to growth and investment across India in meeting with the country’s prime minister, Narendra Modi, in New Delhi. Cook is on a visit to India this week and inaugurated the iPhone maker’s first retail store in the country on Tuesday in …

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Indian shares drift lower in wake of weak IT earnings

19 Apr 2023 19 Apr 2023

By Bharath Rajeswaran BENGALURU (Reuters) – Indian shares extended losses for the third session in a row on Wednesday, dragged by IT stocks and the lack of any fresh triggers to offset the downbeat sentiment after a lacklustre start to the earnings season. The Nifty 50 closed down 0.23% at 17.618.75, while the S&P BSE …

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Palm oil’s rare premium leads to ‘wash out’ in India -dealers

19 Apr 2023 19 Apr 2023

By Rajendra Jadhav MUMBAI (Reuters) – Indian buyers have opted to cancel 75,000 tonnes of palm oil purchases for the first time in many years and switch to rival soft oils, such as sunflower oil and soyoil, five industry officials told Reuters. Palm oil usually trades at a discount to soft oils, but import restrictions …

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India’s JSW Steel plans to sell specialty steel to Russia -company source

19 Apr 2023 19 Apr 2023

MUMBAI (Reuters) – India’s JSW Steel plans to sell specialty steel products to Russia this year, a senior company official told Reuters on Wednesday. “We plan to sell some specialty products, including color-coated steel to Russia,” the official said, declining to be identified owing to the sensitive nature of discussions. JSW Steel did not immediately …

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India’s NMDC explores lithium reserves for mining in Australia

19 Apr 2023 19 Apr 2023

MUMBAI (Reuters) -Indian iron ore miner NMDC Ltd is exploring lithium reserves, 124.3 miles (about 200 km) off Perth, Australia, company officials said on Wednesday. “We are in the process of exploring (lithium) in Australia…,” D K Mohanty, director production NMDC told reporters on the sidelines of an industry conference in Mumbai. NMDC is the …

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India’s top pregnancy test kit co Mankind eyes $5 billion valuation in IPO

19 Apr 2023 19 Apr 2023

BENGALURU (Reuters) -Indian pharmaceutical company Mankind Pharma Ltd has set a price band of 1,026 rupees to 1,080 rupees per share for its initial public offering (IPO), valuing the company at 432.64 billion rupees ($5.27 billion) at the upper end of the band. The IPO for the company, which owns the Manforce condom brand and …

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