(Reuters) – India’s imports of crude oil in February rose about 8% from a year earlier, government data showed on Wednesday, as fuel demand hit over 2-decade highs in the world’s third-biggest oil importer and consumer. Rising crude demand and a strong Indian economy bodes well for higher refinery runs and imports, in addition to …
India’s February crude oil imports jump to meet growing demand Read More »
By Aditi Shah and Tim Hepher NEW DELHI (Reuters) -India’s Adani Group will focus on expanding its aviation business and plans to bid for more government-run airports when they come up for privatisation, Adani Airports’ chief executive said on Wednesday. The South Asian nation is the world’s fastest-growing aviation market, with demand for air travel …
Adani to increase airports business in India amid aviation boom Read More »
By Arpan Chaturvedi and Jayshree P Upadhyay NEW DELHI/MUMBAI (Reuters) – India’s decision to allow foreign law firms to establish offices in the country is set to shake up its legal services industry, with local firms fretting star performers could soon be poached and predicting that fees will shoot higher to retain them. As of …
India’s law firms fret about poaching, plan fee hikes as foreigners gain a foothold Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares advanced for a second straight session on Wednesday as concerns over a banking crisis receded further, while investors braced for a crucial interest rate decision by the U.S. Federal Reserve. The Nifty 50 index closed 0.26% higher at 17,151.90, while the S&P BSE Sensex rose 0.24% to 58,214.59. …
Indian shares end higher ahead of key Fed rate decision Read More »
BENGALURU (Reuters) -Indian automaker Mahindra and Mahindra Ltd is in advanced talks with global investors to raise between $1 billion and 1.3 billion to accelerate the expansion of its electric vehicle unit, Mint reported on Wednesday. The company plans to raise capital by selling shares in its unit, currently valued at over $9.1 billion, in …
India’s Mahindra to raise up to $1.3 billion for EV unit – Mint Read More »
BENGALURU (Reuters) – Indian automaker Mahindra and Mahindra Ltd said on Wednesday that World Bank’s private investment arm, International Finance Corp (IFC), will invest 6 billion rupees ($72.58 million) in the company’s last mile electric mobility unit. The investment, which will be in the form of compulsory convertible instruments, will value the unit at 60.20 …
World Bank’s IFC to invest about $73 million in Mahindra’s last mile mobility unit Read More »
By Tim Hepher, Aditi Shah and Tanvi Mehta NEW DELHI (Reuters) -Tensions over plans to transform Air India into a global airline with hundreds of new jets rippled across the aviation sector on Tuesday as foreign carriers clamoured for more access to the world’s fastest-growing economy. Prime Minister Narendra Modi’s government faces growing demands to …
Air India expansion stirs tension over airline flying rights Read More »
By Seher Dareen (Reuters) – Gold dropped about 2% on Tuesday as Treasury yields jumped and easing worries over a banking crisis prompted some investors to cautiously return to riskier assets, while markets await the U.S. Federal Reserve’s next interest rate decision. Spot gold dipped 2.1% to $1,938.19 per ounce by 1:31 p.m. EDT (1731 …
Gold dips 2% as banking fears recede in run-up to Fed decision Read More »
By Anushka Trivedi MUMBAI (Reuters) – The Indian rupee ended little changed on Tuesday, as investors were wary ahead of a pivotal U.S. Federal Reserve bank meeting decision, amid major economies grappling with a banking sector crisis. The rupee ended at 82.6550 per dollar, compared to its previous close of 82.6350. It moved in a …
Rupee rangebound on caution ahead of Fed meeting, future commentary key Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares closed higher on Tuesday, as financials stocks rallied following a raft of measures to stabilise the global banking sector provided temporary relief. The Nifty 50 index closed 0.70% higher at 17,107.50, while the S&P BSE Sensex rose 0.77% to 58,074.68 in their biggest one-day gains since the collapse …
Indian shares rise as financials rally on easing banking crisis fears Read More »
