Indian
TotalEnergies pauses funding for Adani Group after bribery charges
French oil major TotalEnergies halted on Monday investments into Adani Group, after the Indian ports-to-power conglomerate was engulfed in a crisis over an alleged multi-million-dollar bribery scheme.
Tata seals deal for iPhone plant in Tamil Nadu
India’s Tata Electronics has agreed to buy a majority stake in Taiwanese contract manufacturer Pegatron’s only iPhone plant in India, forming a new joint venture that strengthens Tata’s position as an Apple supplier, two sources told Reuters.
India’s forex reserves fall for sixth week
India’s foreign exchange reserves dropped for a sixth consecutive week to a near 3-month low of $675.65 billion as of Nov. 8, data from the Reserve Bank of India (RBI) showed on Friday.
India eyes record rice production in 2024-25 monsoon
India, the world’s biggest rice exporter, is likely to produce a record 119.93 million tonnes of the staple crop in 2024-25 “kharif” season on the back of a good monsoon, the country’s agriculture ministry said yesterday.
India draws roadmap for textile revamp
India has drawn up a roadmap for generating 4.5-6 crore jobs in the textile sector by 2030 to make its market size grow to $350 billion from around $165 billion at present, India’s Textiles Minister Giriraj Singh said.
India’s edible oil demand to rise
India’s edible oil consumption is set to grow at a pace of 2 percent-3 percent as cooking oils remain affordable despite an import duty hike, a leading importer told Reuters on Wednesday.
India’s exports to Bangladesh fell 28% in August
India’s exports to Bangladesh dropped by 28 percent year-on-year to $681 million in August, according to a report by The Indian Express.
India growth slows to 6.7% on lower consumer spending
India’s economic growth slowed to 6.7 percent on-year in the April-June quarter, official data showed Friday, as lower government outlays and lacklustre consumer spending weighed on the world’s fifth-largest economy.
India extends export curbs on gasoline, diesel
India has extended restrictions on the export of diesel and gasoline, the government said in a notification, as New Delhi tries to ensure the availability of refined fuels for the domestic market.
India probing some Adani offshore deals
India’s market regulator is investigating possible violation of ‘related party’ transaction rules in the Adani Group’s dealings with at least three offshore entities that have links to the brother of the conglomerate’s founder, two people said.
Rupee does better than peers
The Indian rupee rose against the US currency on Monday, helped by likely dollar inflows and healthier risk, traders said.
Indian businesses keen to invest heavily here
Indian businesses showed interest to invest heavily in various sectors of Bangladesh.
India plans to extend fuel export curbs beyond March
India plans to extend restrictions on the export of diesel and gasoline after the current fiscal year ends this month to ensure the availability of refined fuels for the domestic market, two government sources with direct knowledge of the matter said.
Rupee weakens
The Indian rupee declined on Monday as relief from the Credit Suisse rescue deal proved to be short-lived, with investors dumping risk assets on worries over a contagion in the global financial sector.
Adani says it secures $3b credit from wealth fund
India’s Adani Group has told creditors it has secured $3 billion loan from a sovereign wealth fund, two sources with knowledge of the matter said, as the embattled conglomerate seeks to ease concerns about its credit profile after a short-seller attack.
India’s economic growth likely slowed further
India’s economic growth likely slowed further in the October-December quarter amid weakening demand and is set to lose more momentum as a series of interest rate hikes weigh on activity, according to a Reuters poll of economists.
Germany seeks to deepen business ties with India
German Chancellor Olaf Scholz arrived in India on Saturday seeking to deepen business ties between the world’s number four and five economies and push for progress on an EU trade deal despite differences over Ukraine.
World Bank promises ‘concessionality’ in debt restructuring
The World Bank will “provide as much concessionality to the debt treatment” for distressed economies as possible, its president told a meeting with the International Monetary Fund, India, China, and other creditor nations on Saturday.