BENGALURU (Reuters) – Indian Oil Corp (IOC) would raise up to 220 billion rupees ($2.66 billion) through a rights issue of shares, the state-owned refiner said on Friday. Last month, Reuters reported that the Indian government had kicked off its plan to fund energy transition projects of three big state refiners — IOC, Bharat Petroleum …
Indian Oil Corp to raise $2.7 billion through share sale Read More »
BENGALURU (Reuters) – Reliance Retail, India’s biggest retailer and a unit of Indian conglomerate Reliance Industries, said on Friday its board approved reducing the company’s equity share capital. Reliance Retail said that except for the shares owned by its holding company, Reliance Retail Ventures, the rest of the stock will be extinguished or cancelled at …
India’s Reliance Retail approves share capital reduction Read More »
By Ruma Paul Dhaka (Reuters) – Two Bangladeshi banks including the largest state-owned lender plan to introduce trade transactions in Indian rupees, officials said, as the South Asian nation looks to build up its shrinking foreign exchange reserves. Until now, Bangladesh has only carried out trade transactions in dollars. State-owned Sonali Bank and Eastern Bank …
Two Bangladesh banks to offer trade transactions in Indian rupees Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -India’s blue-chip Nifty 50 index fell for the first time in nine sessions on Friday, succumbing to the persistent concerns of U.S. rate hikes that have weighed on global equities. The Nifty 50 settled 0.85% lower at 19,331.80, while the 30-member S&P BSE Sensex fell 0.77% to 65,280.45. Both indexes …
India’s Nifty snaps eight-day win streak on Fed concerns; logs weekly gain Read More »
By Sethuraman N R BENGALURU (Reuters) – The Indian rupee ended at an over one-month low against the U.S. dollar on Friday, and logged its worst week in seven on worries that the Federal Reserve will raise interest rates more than expected this year. The rupee ended down 0.28% at 82.74 to the dollar compared …
Rupee logs worst week in seven, awaits US jobs data amid hawkish Fed Read More »
By Rajendra Jadhav MUMBAI (Reuters) – Farmers in India have fallen behind in planting key summer-sown crops such as rice, cotton, corn and soybeans due to the uneven distribution of monsoon rainfall, although they could catch up in the coming weeks if sufficient rain occurs. Millions of Indian farmers plant summer crops mainly in the …
India’s summer-sown crop planting lags on uneven monsoon rains Read More »
By Riddhima Talwani and Rajendra Jadhav NEW DELHI/MUMBAI (Reuters) – Restaurants of fast food chain McDonald’s have dropped tomatoes from their burgers and wraps in many parts of India, hit by supply shortages and quality concerns after prices of the vegetable soared to records. In some regions, wholesale prices of the staple of traditional Indian …
McDonald’s drops tomatoes from India offerings, citing quality concerns as prices surge Read More »
MUMBAI (Reuters) – The Reserve Bank of India (RBI) is working on regulations that will be more “developmental” for financial technology, or fintech, companies, a deputy governor of the central bank said on Friday. “We are working on regulations (that) would be specific to fintech entities and the fintech ecosystem,” T Rabi Sankar said at …
India cenbank looking to enhance fintech regulations – deputy Rabi Sankar Read More »
NEW DELHI/LONDON (Reuters) – Freedom of expression cannot be used for “legitimising violence”, India said on Thursday in response to media reports citing comments by Canada’s prime minister on Ottawa’s handling of supporters of a separate state for the Sikh community. India summoned the Canadian envoy in New Delhi to register its protest after Indian …
Free speech cannot be used to legitimise terror, India says Read More »
By Brijesh Patel (Reuters) – Gold prices slipped to a near one-week low on Thursday after a better-than-expected U.S. private payrolls report fuelled expectations for more rate hikes from the Federal Reserve, lifting Treasury yields higher. Spot gold was down 0.4% at $1,910.15 per ounce by 2:08 p.m. EDT (1808 GMT), while U.S. gold futures …
Gold dips as strong US labor data fuels rate-hike bets Read More »
