Page 9 - Reuters

India's February fuel demand hit at least 24-year high, shows data

India's fuel demand hit its highest level in at least 24 years in February, data showed on Thursday, with industrial activity in Asia's third biggest economy boosted by cheap Russian oil

Explainer: Why has power demand in India surged post Covid-19 recovery?

Power demand jumps 10% in the first two months of 2023 from a year ago

India jostles with China for April ESPO crude from Russia, prices jump

Indian refiners mostly buy Russian oil on a delivered basis, with the seller arranging for insurance, freight and ship

India's April-February finished steel exports slump 52%: Govt data

Major steelmakers reported a drop in profits in the December quarter, in part because the government in May imposed the tax, which applied to exports of some intermediate steel products, such as bars

Jio's Radisys to buy Mimosa for $60 mn to bolster 5G, broadband services

The conglomerate via Jio, India's leading telecom service provider, is ramping up 5G and broadband services across the country after snapping up airwaves worth $11 bn in a 5G spectrum auction last yr

India, US to sign MoU on semiconductors, says US Commerce Secretary

The two nations will map the semiconductor supply chain together and identify opportunities for joint ventures and technology partnerships, Raimondo added

Gold trades in tight range as investors squared positions for US jobs data

The dollar index slipped 0.3% after hitting a three-month high in the previous session. A weaker greenback tends to make bullion a more attractive bet

Mango's sales hit record $2.8 bn sales as Zara's rival expands in US, India

Mango began to increase its presence in India and opened a flagship store in New York in May, one of nine new shops opened in the United States last year and of 119 outlets in all its markets

RBI to hold 14-day variable rate repo auction for Rs 1 trillion on Friday

The sharp squeeze in liquidity has pushed up money market rates, with the 364-day treasury bills selling at yields above the 10-year paper's on Wednesday

Balance sheet comfort may allow RBI to let rupee appreciate: Citi

Citi estimates the RBI's gross forex sales in the first nine months of fiscal 2023 at $189 billion against $96 billion in the whole of fiscal 2022

Dollar holds near three-month highs on rates outlook by Jerome Powell

The yuan weakened after the government reported unexpectedly low inflation

India must prepare to curb volatility risks of int'l rupee: RBI deputy gov

An international currency is one that is freely available to non-residents, essentially to settle cross-border transactions, and in the case of the rupee, this will be achieved by promoting it An inte

RBI possibly buying dollars in spot, paying forwards via PSBs: Traders

The Reserve Bank of India (RBI) was possibly buying dollars in spot and paying in forwards via public sector banks on Thursday to mop up foreign currency inflows, three traders told Reuters

India faces high power cut risks after years of coal, hydropower neglect

A rapid addition of solar farms has helped India avert daytime supply gaps, but a shortage of coal-fired and hydropower capacity risks exposing millions to widespread outages at night

UK's CAA told Heathrow to cut fees it charges airlines over 2024-26

Heathrow charges would fall to about 25.43 pounds per passenger in nominal terms over the 2024-2026 period

Russia plans to challenge US nominee Ajay Banga to World Bank

Russia remains a voting member of the World Bank, although the bank halted all programs in Russia and Belarus last March

GQG Partners likely to increase investment in Adani, says Rajiv Jain

GQG Partners' founder Rajiv Jain said on Wednesday the fund manager would likely expand its $1.9 billion investment in the Adani group

India's oil deals with Russia dent decades-old dollar dominance

India is the third largest oil importer, and Russia became its leading supplier after Europe shunned Moscow following its invasion of Ukraine last year

1-yr, 10-yr govt bond yield curve inverts for first time since May 2015

The benchmark 2032 bond yield has risen only 12 bps during the same period, leading to spread compression and ultimately inversion

India must limit H1 bond sales to 55% of annual goal, say traders

India aims to borrow gross Rs 15.43 trillion ($187.85 billion) through a sale of bonds in the next financial year beginning April 1, up from the Rs 14.21 trillion raised this year