Covering stories from Boris Johnson's India visit to Reliance Industries buying 15 mn barrels of Russian oil, here are our top headlines this evening:
Govt to finalise Pawan Hans sale Saturday, JSW among bidders: Report
India will finalize the sale of state-owned helicopter service provider Pawan Hans Ltd. this week and has received bids from companies including JSW Steel Ltd. and Jindal Steel & Power Ltd., according to people with the knowledge of the matter.
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Serum Institute halts Covid vaccine production amid global supply glut
Serum Institute of India Ltd., the world’s largest vaccine manufacturer and a key supplier of Covid-19 inoculations to developing countries, has stopped making fresh batches of shots after its stockpile grew to 200 million doses amid a global supply glut.
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India, UK to deepen defence ties, seal free-trade agreement 'before Diwali'
In the backdrop of the rapid geopolitical turmoil, Prime Minister Narendra Modi and his British counterpart Boris Johnson on Friday agreed on a new and expanded India-UK defence partnership and vowed to seal an ambitious free trade agreement by the end of the year.
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Reliance buys 15 mn barrels of Russian oil amid Ukraine war: Report
Reliance Industries Ltd , operator of the world's biggest oil refining complex, has ordered at least 15 million barrels of Russian oil since Russia invaded Ukraine in February, trade sources said.
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Will the RBI's efforts to tame inflation, manage growth fail? UBS thinks so
UBS has downgraded India’s real gross domestic product (GDP) forecast for fiscal 2022-23 (FY23) to 7 per cent from the earlier forecast of 7.7 per cent. Beyond FY23, they expect the GDP growth to settle at a trend rate of 6 per cent and see inflation remaining above the Reserve Bank of India’s (RBI’s) comfort level for a few more quarters.
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