Reuters India - Squid Business

India’s factory growth ends 2023 at 18-month low on weaker new orders, output

By Anant Chandak BENGALURU (Reuters) -India’s manufacturing industry ended 2023 on a slightly shaky footing as factory growth decelerated to an eighteen-month low in December, pressured by a weaker rise in new orders and output, a business survey showed on Wednesday. The HSBC India Manufacturing Purchasing Managers’ Index, compiled by S&P Global, fell to 54.9 …

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India’s Akasa Air nears order for 150 Boeing jets – sources

By Aditi Shah and Aditya Kalra NEW DELHI (Reuters) -Indian budget carrier Akasa Air is set to close an order for around 150 Boeing 737 MAX narrowbody planes, two sources said, its latest bid to tap the travel boom in the world’s fastest-growing aviation market. Contract negotiations are ongoing and a deal is expected to …

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Record borrowing by Indian states to widen spread over govt bond yield – traders

By Dharamraj Dhutia MUMBAI (Reuters) – Indian states’ borrowing in the last quarter of the current fiscal is likely to prompt investors to seek higher premiums over federal government debt, leading to a wider yield spread, several traders said on Tuesday. Earlier in the day, states raised 160 billion rupees ($1.92 billion), the lowest for …

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Gold begins new year restrained by stronger dollar

By Sherin Elizabeth Varghese (Reuters) – Gold entered 2024 under pressure from a jump in the U.S. dollar, but held its ground on expectations the Federal Reserve will cut interest rates this year and rising concerns over attacks on shipping in the Red Sea. Spot gold steadied at $2,061.59 per ounce on Tuesday by 2:30 …

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Cricket-India back to full strength as Jadeja returns for Newlands test

By Nick Said CAPE TOWN (Reuters) – Ravindra Jadeja has returned to full fitness after missing the first test against South Africa with back spasms and could be in line for selection as India seek to level the two-match series in the second test that starts at Newlands on Wednesday. The experienced left-arm spinner would …

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At least 3 killed, 12 injured in unrest in India’s Manipur state

GUWAHATI, India (Reuters) -At least three people were killed and 12, including seven security personnel, seriously injured in India’s restive northeastern state of Manipur in the last two days as sporadic violence continued in the region, officials said. At least 180 people have died since fierce fighting broke out between members of the majority Meitei …

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India’s Chandigarh city restricts fuel sales as transporters’ protest disrupts supply

NEW DELHI (Reuters) – India’s northern city of Chandigarh imposed restrictions on the sale of petrol and diesel at fuel stations on Tuesday after a strike involving drivers of fuel tankers disrupted supply in the region, the local government said. Drivers of trucks, buses, and tankers launched a three-day strike on Monday to protest a …

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India turns to Saudi as purchases of Russian oil fall in Dec

By Nidhi Verma and Mohi Narayan NEW DELHI (Reuters) – India increased imports of Saudi oil in December as payment problems drove its Russian oil buys to an 11-month low, with at least five cargoes of the sweet Sokol variant heading to other locations, data from vessel tracking agencies showed. Indian Oil Corp, which was …

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Indian shares fall on selling pressure at near record high levels

By Bharath Rajeswaran BENGALURU (Reuters) -India’s benchmark indexes fell on Tuesday, dragged by financials, auto and information technology stocks, as selling pressure emerged at near record high levels. The blue-chip NSE Nifty 50 fell 0.35% to 21,665.80 points, while the S&P BSE Sensex shed 0.53% to 71,892.48. “We expect selling pressure at near record high …

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Rupee closes lower amid US dollar demand from oil companies, foreign banks

By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee ended weaker on Tuesday, in line with broad weakness in Asian currencies, and pressured by U.S. dollar demand from oil companies and foreign banks. The rupee ended at 83.3175, lower by 0.1% compared with its close at 83.2375 in the previous session. The dollar index rose …

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