India considering spending additional $26 billion to fight inflation -sources

India considering spending additional $26 billion to fight inflation -sources

NEW DELHI — The Indian government is considering spending an additional 2 trillion rupees ($26 billion) in the 2022/23 fiscal year to cushion consumers from rising prices and fight multi-year high inflation, two government officials told Reuters. The new measures will be double the 1 trillion rupees hit government revenues could take from tax cuts…

India Wants Russia to Discount Its Oil to Less Than $70 a Barrel

India Wants Russia to Discount Its Oil to Less Than $70 a Barrel

Bloomberg) — India is trying to get deeper discounts on Russian oil to compensate for the risk of dealing with the OPEC+ producer as other buyers turn away, according to people with knowledge of the matter. The South Asian nation is seeking Russian cargoes at less than $70 a barrel on a delivered basis to…

The US urges India not to step up imports of Russian oil as other nations wean off their reliance

The US urges India not to step up imports of Russian oil as other nations wean off their reliance

Biden said the US could help India diversify its sources of energy, but stopped short of making a “concrete ask” of Modi…

India halts futures trade in key farm commodities to calm inflation

India halts futures trade in key farm commodities to calm inflation

MUMBAI — India’s market regulator called a halt to futures trading in key farm commodities on Monday, as the world’s biggest importer of vegetable oils, and a key producer of wheat and rice, struggles to tame food inflation. The year-long suspension, India’s most dramatic move since it allowed futures trade in 2003…

India tells public to shun Musk-backed Starlink until it gets license

India tells public to shun Musk-backed Starlink until it gets license

NEW DELHI — The Indian government advised people against subscribing to Starlink Internet Services, a division of billionaire Elon Musk’s SpaceX aerospace company, as it does not have a license to operate in the country. A government statement issued late on Friday said Starlink had been told to comply with regulations and refrain from “booking/rendering…

India central bank sidesteps proposal on corporate ownership of banks

India central bank sidesteps proposal on corporate ownership of banks

MUMBAI — India’s central bank said on Friday it would reform rules on the structure of private sector banks but a source familiar with the matter said the changes would not include allowing industrial groups to own lenders. Under the new rules significant shareholders in a non-state bank…

India approves Zydus Cadila’s COVID-19 vaccine for emergency use

India approves Zydus Cadila’s COVID-19 vaccine for emergency use

BENGALURU — India’s drug regulator on Friday approved Zydus Cadila’s three-dose COVID-19 DNA vaccine for emergency use in adults and children above 12 years of age. (Reporting by Shivani Singh in Bengaluru; Editing by Shounak Dasgupta and Maju Samuel)

India a leader and key US ally in Afghanistan, says Antony Blinken

India a leader and key US ally in Afghanistan, says Antony Blinken

Meets Dalai Lama’s representative in New Delhi in a signal to China

India sees venture capital investments surge to $8 billion in Q2: KPMG

India sees venture capital investments surge to $8 billion in Q2: KPMG

The Asia Pacific region saw solid VC investment in H1 2021 despite a dip from 42.8 billion dollars across 2,066 deals in Q1 2021 to 38 billion dollars across 1,998 deals in Q2 2021.

India in talks with Russia for $2-3 bn investment in upstream oil assets

India in talks with Russia for $2-3 bn investment in upstream oil assets

Tie-ups in Arctic projects also being evaluated

India records 38,079 fresh Covid-19 cases, 560 deaths in last 24 hours

India records 38,079 fresh Covid-19 cases, 560 deaths in last 24 hours

India recorded 38,079 new coronavirus cases, which took the infection tally to 31,064,908, while the death toll reached 413,091 with 560 more fatalities, according to Union health ministry data

India says it desires ‘normal neighbourly’ relations with Pakistan

India says it desires ‘normal neighbourly’ relations with Pakistan

India on Friday said the onus is on Islamabad to create a conducive atmosphere by taking “credible, verifiable” action to not allow any territory under its control to be used for cross terrorism

India Coronavirus Dispatch: Deaths stay elevated despite dip in cases

India Coronavirus Dispatch: Deaths stay elevated despite dip in cases

Another novel coronavirus detected in humans, diabetes and rampant use of steroids amid Covid increase risk of black fungus, and more-news relevant to India’s fight against the pandemic

Colgate-Palmolive India Q4 net profit jumps 54% to Rs 314.6 crore

Colgate-Palmolive India Q4 net profit jumps 54% to Rs 314.6 crore

Shares of Colgate-Palmolive India closed trade at Rs 1,596 apiece on the BSE on Monday, up 1.84 per cent over the previous day’s close

Oil extends loss on India COVID-19 cases, U.S. pipeline restart

Oil extends loss on India COVID-19 cases, U.S. pipeline restart

SINGAPORE — Oil prices fell on Friday after dropping about 3% a day earlier as coronavirus cases remained high in major oil consumer India and as a key fuel pipeline in the United States resumed operations after being shut due to a cyber attack. Brent crude oil futures were down 22 cents, or 0.3%, at…

Who Wants Gold? SchiffGold Friday Gold Wrap 04.23.21

Who Wants Gold? SchiffGold Friday Gold Wrap 04.23.21

There’s been some chatter in the financial media about the decline of the gold market. Gold is a relic of the past and crypto will replace it as the go-to safe haven and inflation hedge, according to some. But as…

Star India retains Pro Kabaddi League media rights for Rs 181 crore

Star India retains Pro Kabaddi League media rights for Rs 181 crore

The franchisees have also slammed the organisers for keeping them out of the core committee on auctions

India Has 2nd-Most Cases; U.K. Hits Vaccine Target: Virus Update

India Has 2nd-Most Cases; U.K. Hits Vaccine Target: Virus Update

(Bloomberg) — India overtook Brazil as the country with the second-most cases in the world. A study in Brazil showed that Sinovac Biotech Ltd.’s vaccine is slightly more than 50% effective, raising new concerns over the efficacy of the China’s suite of Covid-19 shots. The U.K. hit its goal of offering a shot to all…

FTSE puts India, Saudi on watchlist for inclusion in its bond index

FTSE puts India, Saudi on watchlist for inclusion in its bond index

FTSE Russell’s semi-annual country classification review said market accessibility level of Indian and Saudi bonds will be considered for reclassification to 1 from 0

India extends shelf life of Serum’s Covishield to 9 months: Report

India extends shelf life of Serum’s Covishield to 9 months: Report

The approval, given to a licensed version of the drug made by the Serum Institute of India (SII) and exported to dozens of countries, could help health authorities minimise vaccine wastage