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’s steel imports from Russia rise to eight-year high
India’s imports of Russian steel rose to an eight-year high during the first 10 months of the financial year that began in April 2022, government data compiled by Reuters showed.
India may extend wheat export ban
India is considering extending a ban on wheat exports as the world’s second-biggest producer seeks to replenish state reserves and bring down domestic prices, government sources said.
Adani shares soar 15% after loan pledge
Shares in the flagship firm of troubled Indian conglomerate Adani rose almost 15 percent Tuesday, clawing back some of its recent huge losses after saying it would repay more than $1 billion in loans.
Adani sell-off losses top $110b
The crisis engulfing the Adani group intensified on Monday as dozens of members India’s main opposition party were detained by police during protests, and parliament was suspended again due to disruptions over the saga.
India to ban China-linked betting, loan lending apps
India’s Ministry of Electronics and Information Technology (MeitY) has begun a process to ban and block 138 betting apps and 94 loan lending apps with Chinese links, India’s ANI reported on Sunday, citing sources.
Strong India services growth dips in Jan
Robust growth in India’s services industry eased last month after touching a six-month high in December, with softening orders spurring caution in companies’ business outlooks for the year, a private business survey showed on Friday.
3 Adani stocks under additional surveillance
The Indian stock market regulator has put three Adani group companies, including Adani Enterprises, under short-term additional surveillance measure framework (ASM), according to the latest data available with the exchanges on Thursday.
Adani abandons $2.5 billion share sale in big blow to Indian tycoon
Gautam Adani's flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a US short-seller's criticisms wiped billions more off the value of the Indian tycoon's stocks.
India may cut gold import duty
India plans to slash the import duty on gold because higher taxes have made it more profitable for smugglers, who can offer hefty discounts and denting the market share of banks and refiners, government and industry officials told Reuters.
India may keep lid on sugar exports
India is not looking at allowing more sugar exports, government and industry officials said on Thursday, dampening speculation that the world’s biggest producer of the sweetener would permit a second tranche of overseas shipments.