By Rajendra Jadhav KHEJRI BUJURG, India (Reuters) – Buying milk is getting expensive in India and the price could soon hit an all-time high, forcing the world’s biggest producer to step up imports to boost supplies and ease cost of living pressures. Farmers are wrestling with a rare double whammy: a lethal condition called lumpy …
India’s milk imports soar as disease hits local cattle stock Read More »
NEW DELHI (Reuters) -The World Bank on Tuesday lowered its forecast for India’s economic growth in the current fiscal year that started on April 1 to 6.3% from 6.6% as it expects higher borrowing costs to hurt consumption. To tame inflation, India’s central bank has raised interest rates by 250 basis points since May. “Rising …
World Bank lowers India current fiscal year growth forecast to 6.3% Read More »
BENGALURU (Reuters) – India’s retail vehicle sales jumped 14% to more than 2 million in March on festival demand and buying ahead of implementation of new fuel emission norms, the country’s Federation of Automobile Dealers Associations (FADA) said on Tuesday. But following March’s surge, the financial year that began at the start of this month …
India’s retail vehicle sales climb 14% in March; 3-wheeler sales record – FADA Read More »
NEW DELHI (Reuters) – A joint venture of India’s Adani group is in talks with about half a dozen banks for a loan of about $220 million, which will be its first since short-seller Hindenburg released a damaging report on it this year, Bloomberg News reported on Tuesday. Data centre provider AdaniConneX, a joint venture …
India’s Adani JV in talks for first dollar loan since Hindenburg report – Bloomberg News Read More »
BENGALURU (Reuters) -Axis Bank Ltd Chief Executive Officer Amitabh Chaudhry said he was watchful over consumer demand in the Indian economy and that expectations for growth might have to be tempered a bit, the Financial Times reported on Tuesday. Chaudhry said lenders need to stay vigilant about economic outlook despite the recent robust growth, as …
Axis Bank CEO flags risks of slowing economic growth – FT Read More »
By Lucia Mutikani, Jonathan Cable and Leika Kihara WASHINGTON/LONDON/TOKYO (Reuters) -Global factory activity weakened in March as consumers feeling the pinch from rising living costs cut back, surveys showed on Monday, suggesting a deteriorating outlook will remain a drag on economic recoveries and keep policymakers on their toes. U.S. manufacturing activity slumped to the lowest …
Global factory activity weakens as demand falters Read More »
By Deep Kaushik Vakil (Reuters) – Gold rallied 1% on Monday as the dollar’s retreat burnished bullion’s appeal as a safe-haven after a surprise output cut by OPEC+ rekindled fears of prolonged inflation and triggered uncertainty about the central bank response. Spot gold gained 0.9% at $1,984.75 per ounce by 1:45 p.m. EDT (1745 GMT). …
Gold rallies on dollar retreat as markets grapple with OPEC surprise Read More »
By Jayshree P Upadhyay MUMBAI (Reuters) – India’s market regulator is investigating possible violation of ‘related party’ transaction rules in the Adani Group’s dealings with at least three offshore entities that have links to the brother of the conglomerate’s founder, two people said. The three entities allegedly entered into several investment transactions with unlisted units …
India regulator probing some Adani offshore deals for possible rule violations-sources Read More »
By Ira Dugal and Ankur Banerjee MUMBAI (Reuters) – Mumbai resident Shivam Vahia cannot remember the last time he left home to shop. He spends about 30,000 rupees ($364) a month buying necessities like groceries, clothes and gadgets, all by tapping a few buttons on his mobile phone. “My only offline spends are bars and …
From fast food to autos, India’s digitally connected users lure investors Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) – India is opposed to diluting the definition of green hydrogen to include fuel produced from low carbon energy, as some developed nations have proposed in G20 meetings, Power and Renewable Energy Minister R K Singh said. In an interview with Reuters, Singh said India, which holds the …
Indian G20 presidency opposes watering down green hydrogen standards Read More »
