BENGALURU (Reuters) – Indian consumer goods conglomerate Hindustan Unilever Ltd named Rohit Jawa as its managing director and chief executive officer on Friday, succeeding Sanjiv Mehta, who is retiring after spending nearly 10 years at the company’s helm. Jawa, currently chief of transformation for Unilever, will take charge as MD and CEO from June 27, …
Unilever’s Indian unit names Rohit Jawa as MD, CEO Read More »
By Nimesh Vora MUMBAI (Reuters) – Indian exporters may need to adjust their strategy to manage foreign exchange risks, considering rupee forward premiums are likely to remain low relative to historical standards, some analysts said. The dollar/rupee forward premiums – which reflect the U.S. and Indian interest rate differential – have plunged from around 4.6% …
Indian exporters need to adapt hedging strategy given low rupee premiums-analysts Read More »
By Anant Chandak BENGALURU (Reuters) – Retail inflation in India likely eased a bit last month but stayed above the Reserve Bank of India’s upper threshold for a second straight month, keeping the central bank on course for further policy tightening, a Reuters poll found. Rises in food prices, which account for nearly half of …
By Muyu Xu and Florence Tan SINGAPORE (Reuters) -Private Indian refiners are jostling with independents in China for Russian ESPO crude loading in April, pushing prices higher after Moscow lowered exports of its flagship grade Urals, industry sources said. China, which is set to import record volumes of Russian crude in March, typically sweeps up …
India jostles with China for April ESPO crude from Russia, prices jump Read More »
AHMEDABAD, India (Reuters) -Usman Khawaja smashed the first century by an Australia batter in the current series against India to steer the tourists to 255 for four after the opening day of the fourth and final test on Thursday. The opener forged 50-plus partnerships with Travis Head, Steve Smith and Cameron Green in easily the …
Cricket-Khawaja’s unbeaten hundred powers Australia to 255-4 Read More »
NEW DELHI (Reuters) – India directed drug manufacturers to stop using propylene glycol sourced from the Delhi-based firm that supplied the ingredient to Marion Biotech, whose cough syrups were linked to deaths of 19 children in Uzbekistan, according to a government document seen by Reuters. Uzbekistan said in December that the children died after consuming …
India prohibits use of propylene glycol from supplier linked to Uzbekistan deaths Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares posted their biggest one-day drop in over two weeks on Thursday, snapping a three-session winning streak, as concerns of a prolonged high-interest rate regime weighed on sentiment. The Nifty 50 index closed 0.93% lower at 17,589.60, while the S&P BSE Sensex ended down 0.90% at 59,806.28, notching their …
Indian shares snap three-day winning streak on rate jitters Read More »
MUMBAI (Reuters) – The Reserve Bank of India (RBI) is likely to be comfortable about its balance sheet at the end of March 31, which would give it more flexibility in letting the rupee appreciate, Citi analysts wrote in a note released on Wednesday. Under a new economic capital framework adopted by the Indian central …
Balance sheet comfort may allow Indian cenbank to let rupee appreciate – Citi Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee rose against the U.S. currency on Thursday, supported by dollar inflows and the underlying positive momentum, traders said. The rupee was at 81.8575 to the U.S. dollar by 10:22 a.m. IST compared with 82.0550 in the previous session. The rupee has not been impacted by the …
Rupee resumes uptrend on likely dollar inflows, Fed risks linger Read More »
MUMBAI (Reuters) – The Indian rupee declined against the dollar on Wednesday amid worries over the U.S. interest rate outlook, but the losses were contained by exporters and speculators. The rupee closed at 82.0550 to the U.S. dollar, down from 81.91 in the previous session. The local currency had fallen to an intraday low of …
Rupee declines but ends off day’s low, premiums fall Read More »
