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Germany cannot expect India to impose sanctions on Russian oil: govt source

BERLIN (Reuters) – Germany cannot expect India to impose sanctions on Russian oil but is happy Russia is selling oil at a lower price and receives smaller revenues as a result, a German government source said on Thursday ahead of Chancellor Olaf Scholz’s trip to India. Germany and India agree on who is the aggressor …

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India’s Zee Entertainment CEO challenges co’s insolvency admission

BENGALURU (Reuters) -The chief executive of India’s Zee Entertainment Enterprises has challenged insolvency proceedings initiated against the company by India’s bankruptcy court, according to a statement from his office on Thursday. Punit Goenka has filed an appeal with the quasi-judicial National Company Law Appellate Tribunal, and still expects a timely completion of a merger with …

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Need to pause rate hikes as risks to India’s growth significant – rate panel’s Varma

By Swati Bhat and Ira Dugal MUMBAI (Reuters) – Risks to India’s growth are higher than the risk of further inflation as major drivers of price increases are dissipating, justifying a pause in further rate hikes, Jayant Varma, an external member of the country’s monetary policy panel said on Thursday. The Reserve Bank of India has …

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Indian banks may face rise in bad loans from retail, small businesses – SBI official

By Siddhi Nayak MUMBAI (Reuters) – Indian banks could see an increase in bad loans in the retail and small business segments from its recent low levels, an official with the country’s largest lender said on Thursday. While loans to this segment have been growing fast, defaults have thus far been few. “We cannot have …

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Indian truckers say Hindenburg report a godsend in Adani dispute

By Manoj Kumar, Aditya Kalra and Anushree Fadnavis DARLAGHAT, India (Reuters) – For truckers transporting cement from Adani’s factories in a hilly north Indian state, a U.S. short-seller’s critical research report on the giant conglomerate was a godsend they say helped them save their livelihoods. For weeks, around 7,000 truck owners and drivers in India’s …

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India to extend rice export curbs to ensure domestic price stability, supply – govt sources

By Rajendra Jadhav and Mayank Bhardwaj MUMBAI/NEW DELHI (Reuters) – India does not plan to lift a ban on broken rice exports and cut a 20% tax on overseas shipments of white rice as the world’s biggest exporter of the grain tries to keep a lid on domestic prices, two government sources said on Thursday. …

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Real interest rate of about 1% appropriate for Indian economy – rate panel’s Goyal

By Ira Dugal and Swati Bhat MUMBAI (Reuters) – The Reserve Bank of India need not keep raising rates until prices fall as it risks overshooting the inflation-adjusted real rate, which at around 1% now is appropriate for the economy, an external member of the country’s monetary policy committee said. The 250 basis points of …

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Oil drops 3% as high inflation risks stoke demand worries

By Shariq Khan BENGALURU (Reuters) -Oil prices fell by $2 per barrel to their lowest in two weeks on Wednesday, as investors became more concerned that recent economic data will mean more aggressive interest rate increases by central banks, pressuring economic growth and fuel demand. Brent crude futures settled $2.45, or 3%, lower at $80.60 …

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