Reuters
RBI likely to set cut-off yield on 10-year state bonds in 7.42%-7.44% band: Poll
Indian states will aim to raise an aggregate of 161 billion rupees ($1.93 billion) on Tuesday through a sale of bonds maturing in six years to 20 years.The Reserve Bank of India will likely set cutoff yields for the 10-year bonds in the 7.42%-7.44% band,...
6 months ago
India hydropower output records steepest fall in nearly four decades
India's hydroelectricity output fell at the steepest pace in at least 38 years during the year ended March 31, a Reuters analysis of government data showed, as erratic rainfall forced further dependence on coal-fired power amid higher demand.The 16.3% dro...
6 months ago
India gold prices soar to record high, dampening demand, dealers say
Indian gold futures hit an all-time high on Monday, tracking gains in overseas markets and squeezing demand in the world's second-biggest consumer of the precious metal, dealers said.Domestic gold futures rose to 69,487 Indian rupees ($834.07) per 10 gram...
6 months ago
Government raises $1.98 billion by selling stakes in companies in 2023/24
The Indian government has raised 165 billion rupees ($1.98 billion) in 2023/24 by selling its stakes in about 10 state-run companies, official data showed, about 9% lower than its internal target of 180 billion rupees.Prime Minister Narendra Modi's ambiti...
6 months ago
Global oil benchmark Brent breaks above $88 on fresh supply threats
Global oil benchmark Brent rose above $88 a barrel for the first time since October on Tuesday as oil supplies faced fresh threats with more Ukranian attacks on Russian energy facilities and escalating conflict in the Middle East.Brent futures for June de...
6 months ago
Gold hits fresh record high with support from momentum-following funds
Gold prices rose to a fresh record high on Tuesday as demand from momentum-following funds offset a strong U.S. dollar and the possibility of higher-for-longer U.S. rates.Spot gold was up 0.5% to $2,262.51 per ounce by 1055 GMT, after hitting an all-time...
6 months ago
Dollar lower after US jobs data little changed, jawboning supports yen
The U.S. dollar was down on Tuesday after earlier hitting its highest in almost five months, following a new report that showed U.S. job openings held steady at higher levels in February.The dollar index rose to 105.1 on Tuesday, its highest level since N...
6 months ago
Gold shatters record roof, heads for third straight weekly gain on buying momentum
Gold prices climbed on Friday to hit a fresh record high, as multiple factors including U.S. interest rate cut bets, speculative buying and central bank purchases kept bullion's record rally active despite strong U.S. job growth in March.Spot gold gained...
6 months ago
US job growth beats expectations in March; wages increase steadily
US employers hired far more workers than expected March while raising wages, suggesting the economy ended the first quarter on solid ground and potentially delaying anticipated interest rate cuts from the Federal Reserve this year.Nonfarm payrolls increas...
6 months ago
Gold set for third weekly rise, investors brace for US jobs data
Gold prices were headed for their third straight week of gains on Friday ahead of the much-awaited U.S. non-farm payrolls data, supported by strong safe-haven inflows and prospects for lower U.S. interest rates this year.Spot gold was up 0.1% at $2,291.20...
6 months ago
Dollar stirred up by geopolitics, pre-jobs jitters
The dollar headed for its first weekly loss in a month on Friday, but pulled away from two-week lows, ahead of a key U.S. jobs report later in the day, while tensions in the Middle East kept investors on edge.Demand for safe-haven currencies, along with m...
6 months ago
Rupee ends higher on foreign, state-run banks' dollar sales; rises on week
The Indian rupee rose on Friday, bolstered by dollar sales from foreign and state-run banks and after the Indian central bank kept rates unchanged for a seventh consecutive meeting.The rupee closed at 83.2950 against the U.S dollar, up nearly 0.2% compare...
6 months ago
India's fuel demand hits new FY record, up about 5%
India's fuel consumption fell 0.6% year-on-year in March, but demand for the 2024 financial year was up about 5%, primarily driven by higher automotive fuel and naphtha sales.Total consumption, a proxy for oil demand, totalled 21.09 million metric tons (4...
6 months ago
India turns net importer of finished steel in 2023/24, data shows
India was a net importer of finished steel during the 2023/24 financial year that ended on March 31, according to provisional government data seen by Reuters on Monday.The country imported 8.3 million metric tons of finished steel between April and March,...
6 months ago