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Govt increases windfall tax on petroleum crude, cuts levy on diesel, ATF

The windfall tax on petroleum crude will be raised to 12,100 rupees ($145.65) per ton from 10,000 rupees ($120.37), effective Sept. 30

India imports of Russian, Iraqi oil rebound in Sept after hitting 7-mth low

India imported about 1.55 million barrels per day (bpd) of Russian oil in September, 16% more than in August, while imports from Iraq increased by 17% to about 1.1 million bpd, LSEG data showed

Russian President Putin meets top Wagner commander, discusses Ukraine

The Kremlin said the meeting took place late on Thursday

US govt shutdown 'unnecessary risk' to economy, says Lael Brainard

"The main story of all the naysayers was that you couldn't get core inflation to come down without a big increase in job destruction. That is not what we've seen," Brainard said

True North to sell 20% stake worth $325 million in Niva Bupa Insurance

Niva Bupa, a joint venture between British United Provident Association (Bupa) and India's True North, offers health insurance through more than 20 bank partners

India 10-year yield posts first quarterly rise in 5 on rising oil, US peers

The 10-year benchmark 7.18% 2033 bond yield ended at 7.2162% on Friday, leading to 10 basis points increase for the quarter. It had dropped by an aggregate 33 basis points in the last four quarters

US consumer spending rises in August, underlying inflation slows down

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, gained 0.4% last month, the Commerce Department reported on Friday

India's foreign exchange reserves fall to 4-month low of $590.70 billion

Over the last few trading sessions, the RBI has been likely selling dollars via public sector banks to prevent the rupee from falling to a record low against the dollar, traders said

Vedanta to spin off, list six businesses to attract big-ticket investment

The six units being planned to be listed are Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals and Vedanta Limited

Crude oil heads for 2% weekly gain on tight US supply, China demand

Brent futures touched their highest since November 2022 on Thursday, hitting an intra-day peak of $97.69 a barrel. Meanwhile, WTI hit highest intra-day price since August last year at $95.03 barrel

Vedanta raises funds at higher rates amid company rejig, say bankers

The company will offer a coupon of 12%, payable on a quarterly basis to investors of the issue, which is unrated, bankers said, adding that the coupon on an annualised basis works out to be around 13%

Novo Nordisk India head eyes 2026 Wegovy launch, warns against copycats

He urged patients not to buy copycat versions of Wegovy, warning they could be unsafe

Hyderabad-based Megha Engineering gets $648 mn contract in Mongolia

Upon completion, the refinery is expected to process 1.5 million metric tons of crude oil annually, catering to Mongolia's domestic demand for gasoline, diesel, aviation fuel, and LPG

Sony India says merger with Zee Ent likely delayed, to take few more months

(Reuters) -Japan's Sony Group Corp said on Friday a merger of its Indian unit with Zee Entertainment Enterprises, which was due to be completed by end-September, would likely take a few more months.

Strategy shift at top insurer LIC aids in lowering govt borrowing costs

The shift, previously unreported, has helped states reduce costs by more than 40 basis points (bps) over the past 15 months

Novo Nordisk India head eyes 2026 Wegovy launch, warns against copycats

Wegovy, a weekly injection, is the most effective treatment approved for weight-loss to date at a time when global obesity rates are at a record high

FTSE Russell bond index not to include India, wk after JPMorgan's inclusion

Indian government bonds and the local currency took the news in their stride.

Sebi asks MCX to put launch of new commodity derivative platform on hold

The Securities and Exchange Board of India (Sebi) will discuss the commodity platform in its technical advisory committee meeting to be held shortly, MCX said in a statement

Social media and private partnership: Looking at the changes at Isro

The stakes are high: the $400 bn global commercial space market is expected to be worth $1 trn by 2030, but at the moment India has only a 2% share - about $8 bn - which the govt wants to change

ADB unveils capital moves to boost lending by $100 billion over a decade

ADB's move to stretch its balance sheet follows similar measures announced by the World Bank earlier this year that will yield a $50 billion increase in lending over a decade