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 bars non-basmati white rice export
India yesterday prohibited the export of non-basmati white rice with immediate effect after late seasonal monsoon rains hurt the crop and raised fears of a production shortfall, reports Reuters.
India should cash in on ‘China plus one’ strategy
India has an opportunity to cash in on global companies’ efforts to build factories outside China, the new World Bank president said on Wednesday, as firms seek to diversify their supply chains.
Indian traders scoop up cheaper Chinese steel
Indian traders have been scooping up Chinese steel at a deep discount, industry officials and analysts said, spooking Indian producers ahead of a seasonal pick up in domestic demand.
Oil prices fall on profit-taking
Oil prices fell more than a dollar a barrel on Friday as the dollar strengthened and oil traders booked profits from a strong rally, with crude benchmarks recording their third-straight weekly gain.
India ties up with UAE to settle trade in rupee
India has signed an agreement with the United Arab Emirates that will allow it to settle trade in rupees instead of dollars, boosting India’s efforts to cut transaction costs by eliminating dollar conversions.
Rupee gains for second day
The Indian rupee rose for a second straight session against the US dollar on Tuesday, mirroring similar moves in Asian peers, as risk appetite in the region rose on fresh bets of the Federal Reserve nearing the end of its rate tightening cycle.
Rupee recovers, premiums inch up
The Indian rupee managed to recover on Monday and far forward premium rose, tracking a fall in near-maturity US yields after data showed US payrolls rose less than expected.
India inflation likely rose to 4.58% in June: poll
India’s inflation likely snapped a four-month decline in June as food prices surged, a Reuters poll of economists found, making a cut in interest rates unlikely any time soon, while the Reserve Bank of India is also expected to resist pressure to raise rates.
A new era dawns in trade with India
Bangladesh, India to begin bilateral trade in rupee from July 11
India’s fuel demand slips
India’s fuel demand eased 3.7 per cent in June month-on-month, government data showed on Friday, as monsoon rains restricted mobility in the world’s third-biggest oil consumer.