By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee moved in a narrow band, while forward premiums declined on Thursday after the Reserve Bank of India (RBI) surprised markets by holding rates steady. The rupee traded up 0.04% at 81.97 per U.S. dollar by 11:25 a.m. IST, having declined up to 82.0525 immediately after the …
Premiums fall, rupee choppy after RBI unexpectedly holds rates Read More »
By Nimesh Vora MUMBAI (Reuters) -The Reserve Bank of India said it is proposing to permit banks with IFSC banking units to offer non-deliverable forex derivative contracts involving the Indian rupee to resident users in the onshore market. An IFSC Banking Unit or “IBU” is a bank permitted by the Reserve Bank of India to …
RBI expansion of NDF access to help manage Indian rupee volatility – analysts Read More »
By Deep Kaushik Vakil (Reuters) – Safe-haven gold touched its highest in one year on Wednesday as recent U.S. economic data fanned fears of a slowdown and spurred bets the Federal Reserve may ease up on rate hikes. Spot gold was steady at $2,020.30 per ounce by 01:46 p.m. EDT (1746 GMT), after rising to …
Gold scales 1-year peak as slowdown worries mount Read More »
By C.K. Nayak and Rajendra Jadhav NEW DELHI/MUMBAI (Reuters) – India’s stockpiles of dairy products have recovered in the past two months, though some products could qualify for duty free imports during peak demand season, a senior government official said on Wednesday. Milk prices in the world’s biggest producer have risen at their fastest price …
India may need some dairy imports despite improving stocks, says official Read More »
LONDON (Reuters) – Prateek Gupta’s lawyers are seeking an extension of a deadline to challenge a $625 million global freezing order imposed by a London Court on the Indian businessman and his firms until June, a spokesperson said on Wednesday. Freezing orders are injunctions granted by the English courts to restrain individuals or businesses from …
Gupta seeks extension to challenge freezing order in Trafigura case Read More »
By Chavi Mehta BENGALURU (Reuters) – Intel Corp’s former chief architect Raja Koduri is in talks with Hiranandani-backed data center operator Yotta for a deal for his generative artificial intelligence startup, which he said will have a big presence in India. His yet-to-be-named firm would either partner or acquire Yotta, which has data centers in …
Ex-Intel chief architect explores data center deals for AI startup in India Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) – India plans to give green hydrogen fuel producers incentives worth at least 10% of their costs under a $2 billion scheme set to begin before the end of June, a top government official said. New Delhi this year approved a 174.9 billion rupee incentive plan to promote …
India plans green hydrogen incentives of at least 10% of cost -source Read More »
By Mohi Narayan and Nidhi Verma NEW DELHI (Reuters) – Record high imports of crude oil from Russia in fiscal 2022-23 helped India’s refiners boost exports of diesel and jet fuel to Europe as the continent shunned Russian products, preliminary ship-tracking data from Kpler and Vortexa showed. Access to cheap Russian crude has boosted output …
Fuels from Russian oil gets backdoor entry into Europe via India Read More »
BENGALURU (Reuters) -India’s Godrej Consumer Products Ltd on Wednesday estimated its sales grew in double digits in the fourth quarter, led by strong domestic demand for its home and personal care products. The company’s India business, which contributed over 55% of its overall revenue in the last quarter, had “exceeded” expectations, while in Indonesia, it …
India’s Godrej Consumer Products estimates double-digit Q4 sales growth Read More »
By Aditya Kalra NEW DELHI (Reuters) – India’s Adani group told investors that several top Japanese and European banks have reaffirmed confidence in the embattled conglomerate after it was pummeled by a U.S. short seller’s critical report, a company document showed. Led by billionaire businessman Gautam Adani, the group’s seven listed stocks have lost about …
Adani trumpets stable ties to global banks in bid to ease investor worries -document Read More »
