By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is poised to open higher against the U.S. dollar on Tuesday, tracking more broad losses on the greenback, as traders bet that the Federal Reserve could opt for smaller interest rate hikes. The rupee will likely open at around 82.25-82.30. The local currency ended at 82.36 …
Rupee may firm on smaller Fed rate hike bets; dollar hits 7-month low Read More »
By Kavya Guduru (Reuters) -India’s fuel demand reached a nine-month high in December, helped by strong industrial activity and a rise in gasoline consumption due to an uptick in passenger vehicle sales. Consumption of fuel, a proxy for oil demand, was about 4% higher than the previous month, and rose 3.1% year-on-year to 19.60 million …
India’s fuel demand hits nine-month high in December Read More »
By Aditya Kalra and Arpan Chaturvedi NEW DELHI (Reuters) – Google has filed a legal challenge in India’s Supreme Court to block a ruling by the country’s antitrust watchdog that will force the U.S. company to change how it markets its Android platform, court records showed on Saturday. The Competition Commission of India (CCI) in …
Google challenges Android antitrust ruling in India’s Supreme Court Read More »
By John McCrank NEW YORK (Reuters) -The U.S. dollar on Monday slid to a seven-month low against the euro as traders bet recent economic data would prompt the Federal Reserve to slow the pace of interest rate hikes, while riskier currencies benefited from China reopening its borders. The euro was up 0.96% at $1.0747 at …
Dollar at 7-month low vs euro on slower Fed rate hike expectations Read More »
By Seher Dareen (Reuters) – Gold prices cooled slightly after hitting an eight-month high on Monday, as a weak dollar’s boost was offset by Federal Reserve officials reiterating their aggressive stance against inflation. Spot gold rose 0.3% to $1,870.45 per ounce by 1:48 p.m. ET (1848 GMT), after hitting its highest since May 9 earlier …
By Nikunj Ohri NEW DELHI (Reuters) – The Indian government has extended the tenure of central bank deputy governor Michael Patra for a period of one year, according to two banking and government sources. His tenure, which was due to end this week, has been extended until Jan. 15, 2024, the two sources, who did …
India extends RBI deputy governor Patra’s tenure by a year -sources Read More »
By Shivangi Acharya and Nikunj Ohri NEW DELHI (Reuters) – India needs an additional investment of up to $100 billion annually to meet its 2070 net-zero carbon emissions goal, the head of a government panel told Reuters on Monday. The parliamentary panel on finance, chaired by Jayant Sinha, is studying India’s investment requirements for sustainable …
India needs to invest up to $100 billion/yr more to achieve 2070 net zero goal- lawmaker Read More »
By Siddhi Nayak MUMBAI (Reuters) – The Indian government will target reducing its budget deficit ahead of the upcoming national election in 2024 without losing focus on long-term economic growth, DBS Bank’s chief economist told Reuters on Monday. “We expect the budget to chart a path towards some fiscal consolidation,” said Taimur Baig, who is …
India budget to be fiscally prudent without losing growth focus -DBS chief economist Read More »
By Sudarshan Varadhan (Reuters) – India’s imports of thermal coal – used mainly for power generation – grew 14.7% to 161.18 million tonnes in 2022, data from Indian consultancy Coalmint showed on Monday, driven by higher domestic production and shipments by utilities. Data showed that shipments of coal, which is typically used to manufacture steel, …
India’s thermal coal imports up nearly 15% in 2022 – Coalmint Read More »
MUMBAI (Reuters) – Former ICICI Bank Chief Executive Chanda Kochhar and her husband on Monday got interim relief from an Indian court in connection with an alleged loan fraud case involving the bank and Videocon Group, her lawyer said. The Kochhars were arrested by India’s federal investigating agency last month and will be released from …
Former ICICI Bank CEO Chanda Kochhar to be released from jail – lawyer Read More »
