BENGALURU (Reuters) – Retail sales of cars and bikes in India rose in June, an industry body said on Thursday, while also flagging “demand-supply mismatches” that likely caused some disruption. Sales of cars and vans – clubbed as passenger vehicles – rose 4.8% to more than 295,000 units – a record high for the month …
India’s June vehicle retail sales up, but supply challenges hurt: industry body Read More »
By Aditi Shah NEW DELHI (Reuters) -Maruti Suzuki, India’s biggest automaker, is looking to break into the premium car segment with its new seven seater, as a growing number of buyers opt for bigger, feature-packed cars. Maruti, known for small and compact cars that are mostly priced below 1 million rupees ($12,000), on Wednesday launched …
Maruti Suzuki goes upmarket in India with new seven seater Read More »
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is likely to decline more on Thursday after minutes of the U.S. Federal Reserve’s June meeting showed that almost all members expected more rate hikes this year. Non-deliverable forwards indicate rupee will open at around 82.30 to the U.S. dollar, compared with 82.2250 in the previous …
Rupee poised to extend losses on more Fed tightening worries Read More »
By Rajendra Jadhav MUMBAI (Reuters) – Global rice prices, now at their highest in 11 years, are set to rally further after India moved to boost payments to farmers, just as El Nino threatens yields in key producers and alternative staples get costlier for poor Asians and Africans. India accounts for more than 40% of …
Analysis-Rice to get costlier as weather, India’s farm perks threaten supply Read More »
By Dharamraj Dhutia MUMBAI (Reuters) – Indian state-run banks are likely to turn more cautious in their government bond purchases amid rising yields, but will continue to increase their exposure at a more gradual pace, treasury officials said. “There was space in trading portfolios of state-run banks as they had booked huge profits for two …
Indian state-run banks to be cautious buyers of govt bonds as yields rise – treasurers Read More »
By Shariq Khan BENGALURU (Reuters) – U.S. crude oil gained about 3% on Wednesday, narrowing the price gap with global benchmark Brent in a post-holiday response to supply cuts announced on Monday by Saudi Arabia and Russia. U.S. West Texas Intermediate crude (WTI) rose $2 from Monday’s close, or 2.9%, to settle at $71.79 a …
US crude oil gains on supply cuts, focus shifts to holiday demand Read More »
By Arpan Chaturvedi and Riddhima Talwani NEW DELHI (Reuters) -An Indian court on Wednesday allowed leasing companies to access aircraft leased to Go First for inspection and maintenance, though they were still unable to repossess them while the airline’s operations remain stalled. Lessors of Go First, which was granted bankruptcy protection on May 10, have …
Indian court allows Go First lessors to access aircraft for inspection Read More »
(Reuters) – The Reserve Bank of India has allowed UBS-acquired Credit Suisse to retain the banking license in its name in India, ET Now reported on Wednesday. (Reporting by Chandni Shah in Bengaluru; Editing by Shweta Agarwal)
BENGALURU (Reuters) -Adani Wilmar said on Wednesday its first-quarter sales slumped 15% as a sharp fall in edible oil prices eclipsed strong consumer demand for its products. Edible oil prices have fallen more than 50% in less than a year, hit by lower consumer demand in developed economies, easing of supply in the Black Sea …
India’s Adani Wilmar Q1 sales down 15% on fall in edible oil prices Read More »
By Brijesh Patel (Reuters) – Gold prices held steady on Wednesday as investors held back from making big bets ahead of the U.S. Federal Reserve’s June policy meeting minutes. Spot gold was little changed at $1,923.53 per ounce by 09:55 a.m. EDT (1355 GMT), while U.S. gold futures were up 0.1% to $1,931.10. “Not a …
Gold holds steady as markets focus on US Fed minutes Read More »
