Reuters India - Squid Business

India wheat harvest could hit record on higher planting area, favourable weather

By Rajendra Jadhav and Mayank Bhardwaj MUMBAI/NEW DELHI (Reuters) – India’s wheat production is set to jump to a record after all-time high prices prompted farmers to expand planting areas with high-yielding varieties and good weather conditions, scientists and traders told Reuters. Higher wheat output could encourage India, the world’s second-biggest producer of the grain, …

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Rupee may firm on smaller Fed rate hike bets; dollar hits 7-month low

By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is poised to open higher against the U.S. dollar on Tuesday, tracking more broad losses on the greenback, as traders bet that the Federal Reserve could opt for smaller interest rate hikes. The rupee will likely open at around 82.25-82.30. The local currency ended at 82.36 …

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India’s fuel demand hits nine-month high in December

By Kavya Guduru (Reuters) -India’s fuel demand reached a nine-month high in December, helped by strong industrial activity and a rise in gasoline consumption due to an uptick in passenger vehicle sales. Consumption of fuel, a proxy for oil demand, was about 4% higher than the previous month, and rose 3.1% year-on-year to 19.60 million …

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India’s inflation likely remained steady at 5.90% in December: Reuters poll

By Madhumita VikramGokhale BENGALURU (Reuters) – India’s retail inflation held steady in December, staying within the Reserve Bank of India’s comfort zone for a second month as a moderation in food price rises was partly offset by elevated core inflation, a Reuters poll of economists found. The Jan. 4-9 poll of 45 economists put consumer …

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India asks utilities to import 6% of their coal for nine months

By Sarita Chaganti Singh NEW DELHI (Reuters) -India’s power ministry has asked utilities to import 6% of their coal requirement until September, according to a letter seen by Reuters, warning that domestic supplies could be curtailed if import targets are not met. Coal accounts for more than 70% of India’s power generation, with coal-fired plants …

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Google challenges Android antitrust ruling in India’s Supreme Court

By Aditya Kalra and Arpan Chaturvedi NEW DELHI (Reuters) – Google has filed a legal challenge in India’s Supreme Court to block a ruling by the country’s antitrust watchdog that will force the U.S. company to change how it markets its Android platform, court records showed on Saturday. The Competition Commission of India (CCI) in …

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Gold hovers near 8-month peak as dollar slips

By Seher Dareen (Reuters) – Gold prices cooled slightly after hitting an eight-month high on Monday, as a weak dollar’s boost was offset by Federal Reserve officials reiterating their aggressive stance against inflation. Spot gold rose 0.3% to $1,870.45 per ounce by 1:48 p.m. ET (1848 GMT), after hitting its highest since May 9 earlier …

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‘RRR’ director S.S. Rajamouli puts audience love before critical acclaim

By Alicia Powell and Danielle Broadway NEW YORK (Reuters) – Indian filmmaker S.S. Rajamouli has become a 2023 award season stand-out, with his three-hour action film “RRR” earning glowing reviews and sparking a campaign to have the film nominated for an Academy Award in the best film category. “RRR” stars N.T. Rama Rao Jr. and …

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India detects all Omicron sub-variants in country, no rise in mortality

NEW DELHI (Reuters) – India has detected the presence of all Omicron sub-variants of COVID-19 in the community after testing more than 300 samples since late December, the health ministry said in a statement on Monday. “No mortality or rise in transmission were reported in the areas where these variants were detected,” the ministry said. …

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India extends RBI deputy governor Patra’s tenure by a year -sources

By Nikunj Ohri NEW DELHI (Reuters) – The Indian government has extended the tenure of central bank deputy governor Michael Patra for a period of one year, according to two banking and government sources. His tenure, which was due to end this week, has been extended until Jan. 15, 2024, the two sources, who did …

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