Reuters India - Squid Business

Billionaire Ambani’s Reliance Jio renews rural India push with $12 4G phone

(Reuters) -Reliance Jio said on Monday it would launch a 4G feature phone priced at 999 rupees ($12.19), the latest attempt by billionaire Mukesh Ambani’s telecom arm to grab market share in India’s massive and under-penetrated hinterlands. Jio, which famously disrupted the Indian telecom sector in the last decade by introducing cut-price tariffs, will roll …

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Indian refiners’ crude processing rises in May

(Reuters) – Indian refiners processed 6% more crude oil in May, provisional government data made public on Monday showed, seeing their biggest month-on-month increase since December 2022. Refinery throughput in May rose to 5.37 million barrels per day (22.7 million tonnes), an uptick of 0.4% compared with May last year. In April, throughput fell 3.8% …

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World hits record land, sea temperatures as climate change fuels 2023 extremes

(Updates June 30 story with new headline) By David Stanway SINGAPORE (Reuters) -The target of keeping long-term global warming within 1.5 degrees Celsius (2.7 Fahrenheit) is moving out of reach, climate experts say, with nations failing to set more ambitious goals despite months of record-breaking heat on land and sea. As envoys gathered in Bonn …

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GIFT Nifty begins India journey as new hedging option for investors

By Sethuraman N R and Jayshree P Upadhyay BENGALURU (Reuters) – Trading volumes at GIFT Nifty, a dollar-denominated derivative contract of the Nifty 50 index previously called SGX Nifty, hit about $1.2 billion in the first half of its debut in India on Monday, NSE’s chief executive and managing director, Ashishkumar Chauhan, said. The SGX …

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India’s women wrestlers push for reforms after sexual harassment case

By Rupam Jain KHARKHODA, India (Reuters) – Indian women wrestlers and their families, aghast at accusations of sexual harassment by a top sports administrator, are pressing for reforms, ranging from guardians accompanying contestants to demands for more women officials in senior ranks of the sport. A trial court admitted this month a case of sexual …

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Indian industrialist Anil Ambani appears before financial crime agency – Hindustan Times

NEW DELHI (Reuters) – Indian industrialist Anil Ambani appeared before the country’s financial crime agency on Monday to record his statement in a case related to violation of foreign exchange rules, the Hindustan Times daily reported citing news agency PTI. (Reporting by Shivam Patel)

India central bank says 76% of 2000-rupee notes returned since May

MUMBAI (Reuters) – The Reserve Bank of India (RBI) said on Monday 76% of the country’s highest denomination 2000-rupee currency notes – worth 2.72 trillion rupees ($33.19 billion) – have been returned since its decision to withdraw them from circulation. The RBI said in May it would withdraw these high-value notes, permitting their exchange or …

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Rupee ends higher; bargain hunting offsets dollar inflows

By Sethuraman N R BENGALURU (Reuters) – The Indian rupee reversed course to close slightly stronger on Monday as buying interest emerged from importers after the local unit touched its highest levels since early May on the back of likely dollar inflows earlier in the session. The rupee ended at 81.9575 per dollar, compared to …

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Indian shares extend rally, end at fresh highs on financials boost

By Bharath Rajeswaran BENGALURU (Reuters) -India’s blue chip indexes Nifty 50 and Sensex ended at fresh highs for the third consecutive session on Monday, aided by broad sectoral gains, with financial services in the lead. The Nifty rose 0.70% to 19,322.55, while the S&P BSE Sensex gained 0.75% to close above 65,000 for the first time. …

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Prestige to make north India debut with $195 million housing project

By Aby Jose Koilparambil (Reuters) – Prestige Estates is planning a $195 million housing project in Noida this year, its first in north India, its CEO said, placing a bet on booming demand in a region long dominated by rivals such as DLF. Prestige has, for years, focussed on its home turf of Bengaluru and …

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