Reuters Asia

U.S. dollar falters vs major currencies as sterling gains; yen in spotlight

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The dollar fell against most major currencies on Tuesday in choppy trading, weighed down by expectations of a possible policy shift at the Bank of Japan (BOJ) that could end its so-called “yield curve control” and be a precursor to adopting a tighter monetary stance. The expectations have …

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India’s Maharashtra enters $2.5 billion partnership for EV battery-swapping stations

(Reuters) – India’s Maharashtra has entered a $2.5 billion partnership with Taiwan’s Gogoro Inc and a local automotive systems supplier to build electric vehicle (EV) battery-swapping and charging stations in the state, the parties said on Tuesday. The Indian company, Belrise Industries Ltd, and Gogoro will form an equal-stakes joint venture and invest the amount …

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Davos 2023: Gogoro, Belrise to invest $2.5 billion in battery swapping network in Indian state

By Brenda Goh DAVOS, Switzerland (Reuters) – India’s Maharashtra state on Tuesday signed a deal with Taiwan’s Gogoro and automotive system maker Belrise Industries under which the two firms will invest $2.5 billion over eight years in building battery-swapping infrastructure across the state. Announced on the sidelines of the World Economic Forum in Davos, the …

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City officials seize four aircraft of India’s Jet Airways, CNBC-TV18 reports

(Reuters) – India’s local authorities seized four aircraft belonging to Jet Airways for non-payment of gratuity dues, CNBC-TV18 reported on Tuesday, citing sources. The Mumbai district administration seized three Boeing and one Airbus planes after an authorised representative from the carrier’s monitoring panel defaulted on dues payment of 960,000 rupees ($11,760.38) plus 10% interest, CNBC-TV18 …

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India’s Russian oil binge drags down OPEC’s share to lowest in 2022

By Nidhi Verma NEW DELHI (Reuters) – Russia became the third-largest oil supplier to India in 2022, making up about 15% of total purchases, dragging down OPEC’s share to the lowest in more than a decade, data obtained from industry sources show. Refiners in India, the world’s third-biggest oil consumer and importer, have been gorging …

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India’s Adani partners with Leyland, Ballard to make hydrogen fueled electric truck

(Reuters) – India’s Adani Enterprises Limited (AEL) said on Tuesday that it has signed an agreement with Ashok Leyland and Canada’s Ballard Power to launch a pilot project to develop a hydrogen fuel cell electric truck (FCET) for mining logistics and transportation. The project led by Adani, will have Ballard supply the fuel cell engine, …

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China’s reopening fuels global growth optimism, Davos panel says

FRANKFURT (Reuters) -China’s reopening from pandemic restrictions could drive global growth beyond expectations and help avoid a broader recession even as some of the world’s largest economies struggle to overcome a downturn, top finance officials at the World Economic Forum said. China has lifted many of the most debilitating restrictions after abruptly jettisoning its strict …

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