(Reuters) -Gautam Adani is seeking to sell a stake in Ambuja Cement for about $450 million, the Financial Times reported on Friday, citing people familiar with the matter. Adani on Thursday made a formal request to international lenders to sell 4% to 5% in Ambuja, his cement business, the report said. The Adani Group did …
Adani seeks to sell stake in Ambuja Cement for $450 million to reduce debt – FT Read More »
By Manoj Kumar NEW DELHI (Reuters) – India’s industrial output rose a bigger than expected 5.2% in January compared with the same month last year as strong domestic urban demand boosted electricity generation and manufacturing, despite weakening exports. Analysts in a Reuters poll had predicted an increase of 5% in industrial output for the month. …
India’s industrial output grows 5.2% year/year in January Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares sank about 1% on Friday, as banking and financials stocks mirrored the slump in lenders globally, while IT stocks fell on persistent worries of high interest rates ahead of key U.S. jobs data later in the day. The Nifty 50 index fell 1% to 17,412.90, while the S&P …
IT firms, banks send Indian shares sliding 1% ahead of US jobs data Read More »
By Aditi Shah and Shivangi Acharya NEW DELHI (Reuters) -Boeing Co said on Friday it would set up a facility in India to convert 737 passenger planes into dedicated freighters to tap into regional and global demand for the service. The investment, which adds to the U.S. manufacturer’s expansion into India on top of a …
Boeing to set up 737 freighter conversion facility in India Read More »
BENGALURU (Reuters) -Tata Technologies, a unit of Indian carmaker Tata Motors, filed for an initial public offering (IPO) on Thursday, according to draft papers submitted to the market regulator. However, Tata Tech, which provides engineering and product development digital services, said it will not offer any of the 95.7 million shares, representing around 23.6% of …
India’s Tata Technologies, a unit of Tata Motors, files for IPO Read More »
(Reuters) -India’s fuel demand hit its highest level in at least 24 years in February, data showed on Thursday, with industrial activity in Asia’s third biggest economy boosted by cheap Russian oil. Consumption of fuel, a proxy for oil demand, rose by more than 5% to 4.82 million barrels per day (18.5 million tonnes) in …
India’s February fuel demand hits at least 24 year high Read More »
By Scott DiSavino NEW YORK (Reuters) -Oil prices slid about 1% to a two-week low on Thursday on increased worries the U.S. Federal Reserve may go too far with its interest rate hikes to control inflation, which could cause a recession and reduce future oil demand. The U.S. central bank uses higher interest rates to …
Oil prices slip 1% to two-week low on recession worries Read More »
By Stephen Culp NEW YORK (Reuters) – Wall Street reversed an earlier advance on Thursday, weighed down by bank stocks and jitters ahead of Friday’s employment report, while Treasury yields eased and the dollar softened on signs that the Federal Reserve’s restrictive monetary policy is beginning to work as intended. All three major U.S. stock …
Wall Street turns lower, Treasury yields dip ahead of jobs report Read More »
By Bharat Gautam (Reuters) – Gold jumped on Thursday as the dollar retreated, after data showed U.S. jobless claims grew more than expected last week, providing some hope to investors that the Federal Reserve’s interest rate hikes could be less aggressive than feared. Spot gold gained 1.1% to $1,832.75 per ounce, as of 2:19 p.m. …
Gold climbs 1% as U.S. jobs data soothes investors Read More »
NEW DELHI (Reuters) – The United States and India will sign a memorandum of understanding on semiconductors as both countries discuss coordination of investment and continue dialogue around policies to spur private investment, U.S. Commerce Secretary Gina Raimondo said on Thursday. Raimondo, who is on a four-day trip to India, is accompanied by the chief …
India, US to sign memorandum of understanding on semiconductors Read More »
