By Rajendra Jadhav and Mayank Bhardwaj MUMBAI/NEW DELHI (Reuters) – India, the world’s biggest importer of vegetable oils, is considering raising its import duty on palm oil to help support local farmers reeling from a crash in domestic rapeseed prices, government and industry officials said on Monday. The increase in the tax on palm oil …
India considers raising palm oil import tax to help rapeseed farmers Read More »
By Anushka Trivedi and Nimesh Vora MUMBAI (Reuters) – The Indian rupee’s recovery against the U.S. dollar may be stifled by the headwinds posed by the Federal Reserve’s monetary policy on emerging market currencies, the India head of trading at ANZ said on Monday. The rupee on Monday hit 81.6350 to the dollar, its highest …
BENGALURU (Reuters) – Retail sales of vehicles in India jumped 16% to around 1.8 million units in February, helped in part by strong demand during the wedding season, an industry body of automobile dealers said on Monday, adding that festivals could push the sales higher in March. Sales have picked up in the last two …
India’s retail vehicle sales up 16% in February, festivals seen driving March – FADA Read More »
MUMBAI (Reuters) – Indian states will look to raise an aggregate of 289.58 billion rupees ($3.54 billion) on Monday through a sale bonds maturing in two to 30 years. The Reserve Bank of India will likely set cutoff yields for the 10-year bonds in the 7.68%-7.71% band, according to a Reuters poll of 14 traders. …
TAIPEI (Reuters) – Major Apple Inc supplier Foxconn said on Saturday it was seeking cooperation in India in new areas like chips and electric vehicles (EVs) after a visit to the country by its chairman, Liu Young-way. Apple has been shifting production away from China after the country’s strict COVID-19 restrictions disrupted the manufacturing of …
Taiwan’s Foxconn seeks chip, EV cooperation with India Read More »
NEW DELHI (Reuters) – Ratings agency Moody’s unit ICRA on Friday revised the outlook for Adani Group’s ports and energy businesses to negative from stable, citing a deterioration in the Indian conglomerate’s “financial flexibility”. The outlook turned negative for the Adani Ports and Special Economic Zone Ltd and Adani Total Gas Ltd, following a sharp …
Moody’s unit revises outlook to negative for Adani Ports, Adani Total Gas Read More »
By Lawrence Delevingne and Elizabeth Howcroft (Reuters) – Wall Street stocks posted strong gains while Treasury yields and the dollar pulled back on Friday as data pointing to U.S. economic growth boosted risk appetite, even as expectations for rate hikes kept bond yields near multi-year highs. The U.S. services sector grew at a steady clip …
Wall Street stocks power higher as Treasury yields and dollar ease Read More »
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar slid from a 2-1/2-month high versus the Japanese yen on Friday, on track for its largest weekly loss since mid-January against a basket of six major currencies, as traders stepped back to gauge the path for Federal Reserve policy. Analysts said the market has for …
Dollar retreats, headed for biggest weekly loss since mid-January; bitcoin down Read More »
By Seher Dareen (Reuters) – Gold prices climbed to a two-week high on Friday and were heading for their first weekly rise in five as a pullback in the U.S. dollar and Treasury yields offered some respite from prospects of more rate hikes from the Federal Reserve. Spot gold was up 0.8% at $1,850 per …
Gold set for first weekly rise in five on dollar weakness Read More »
By Aditi Shah and Tim Hepher DELHI/PARIS (Reuters) – Indian budget carrier IndiGo is in talks with both Boeing and its current supplier Airbus to order more than 500 passenger jets, potentially smashing an industry record set by domestic rival Air India a few weeks ago, industry sources said. India’s largest airline has until now …
Exclusive-IndiGo pits Boeing against Airbus in record jet order talks Read More »
