Reuters India Business

India’s first green bond sale to command ‘greenium’ on strong demand – sources

24 Jan 2023

By Nikunj Ohri and Dharamraj Dhutia (Reuters) – The Indian government expects to issue its first green bonds at a ‘greenium,’ with yields below prevailing market rates, and has identified 400 billion rupees ($4.92 billion) in projects that can be funded with the proceeds, said two government sources. The government plans to raise 160 billion …

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Indian gold prices hit record high, curtail demand -dealers

24 Jan 2023

MUMBAI (Reuters) – Indian gold futures hit a fresh all-time high on Tuesday, tracking gains in overseas markets and a depreciation in the rupee currency, but the surge dampened demand in the world’s second biggest consumer of the precious metal, dealers said. Domestic gold futures rose to 57,099 rupees ($699.19) per 10 grams, up nearly …

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Indian securities tribunal gives relief to NSE in colocation case

23 Jan 2023

(Reuters) -India’s appeals tribunal on Monday set aside a ruling by the markets regulator against the National Stock Exchange (NSE), the country’s largest stock exchange, in a colocation case of 2019, according to an order published on the tribunal’s website. The tribunal ordered the NSE to pay the 1-billion-rupees ($12.3 million) penalty for system lapses …

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Stocks, euro gain amid divergent Fed, ECB rate hike outlooks

23 Jan 2023

By Herbert Lash NEW YORK (Reuters) -Global equity markets surged on Monday as easing recession fears and hopes of a less aggressive Federal Reserve buoyed sentiment, while the likelihood of more jumbo interest rate hikes in Europe pushed the euro to a nine-month peak against the dollar. Gains in chipmakers boosted beaten-down U.S. tech stocks …

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India’s crude imports hit 5-month high in December on cheap Russian supply

23 Jan 2023

By Seher Dareen and Rahul Paswan (Reuters) – India’s crude oil imports rose to a five-month high in December, government data showed on Monday, as refiners stocked up discounted Russian fuel amid a steady increase in consumption in the country. Crude imports for the month were up 2.7% from November at 19.52 million tonnes, according …

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Apple targets raising India production share to up to 25% – minister

23 Jan 2023

NEW DELHI (Reuters) -Apple Inc wants India to account for up to 25% of its production from about 5%-7% now, the trade minister told a conference on Monday, as the iPhone maker continues to move its manufacturing away from China. “Apple, another success story,” Piyush Goyal said, pitching India as a competitive manufacturing destination. “They …

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Amazon launches dedicated air cargo service in India as online sales soar

23 Jan 2023

By Aditi Shah and Nandan Mandayam NEW DELHI/BENGALURU (Reuters) -Amazon.com Inc on Monday launched a dedicated air cargo service in India, Amazon Air, as it looks to expand and speed-up deliveries across one of its key markets amid fast-growing e-commerce sales, an executive said on Monday. The company has invested in Indian cargo carrier Quikjet …

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India’s IDBI Bank expects gross bad loan ratio ease to single digits

23 Jan 2023

By Siddhi Nayak MUMBAI (Reuters) -State-run IDBI Bank Ltd expects to lower its gross bad loan ratio to single digits by the end of this year on strong loan recoveries, a senior executive said on Monday, after the bank reported a record third-quarter profit. IDBI Bank’s profit rose 60% to a 9.27 billion rupees ($113.84 …

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