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Vedanta to create hub to manufacture iPhones, TV equipment in India

Vedanta on Tuesday announced a $19.5 billion investment with Taiwan's Foxconn to set up semiconductor and display production plants in Gujarat

Vedanta sees no funding problems for $19.5-bn chip JV with Foxconn

Vedanta chairman says chips from Gujarat would help to foster clusters of companies that could make products like iPhones, television sets, laptops and other electronic goods in India

India set to allow 5 mn tonnes of sugar exports in first tranche: Report

On Oct. 1, 2022, when the new season begins, mills' carryover stocks from the previous season are expected at 6 million tonnes against 8 million tonnes a year earlier

India narrows thermal coal imports gap with top buyer China as demand rises

India is fast catching up with China in its thermal coal imports, as the world's two biggest overseas buyers of the power generation fuel adjust purchases

Index inclusion may fuel only short term gains in Indian rupee, bonds: DBS

Meanwhile, elevated supply of bonds in the second half of this financial year will bring focus back to incremental demand, resulting in a gradual rise of yields, the house said

Goldman cuts Infosys, TCS to 'sell' on looming slowdown, upgrades Wipro

Goldman said it remains 'more sanguine' on EBIT margin forecasts than on revenue of IT firms, given multiple levers such as higher employee utilisation, controls on variable pay and annual wage hikes

India's rice exports set to fall 25% as levy make shipments expensive

"The duty has made Indian rice expensive. Exports would drop by at least 5 million tonnes," B.V. Krishna Rao, president of The Rice Exporters Association (TREA), told Reuters.

Rupee falls 30 paise against US dollar to 79.44 on hawkish Fed outlook

Rupee had opened at 79.60, but managed to claw back from its fall, helped by Indian shares recouping a large part of their losses

Insurers juggle surge in claims in aftermath of Bengaluru floods

Three days of heavy rainfall from Sept. 5 saw homes and offices in Bengaluru's IT corridor flooded, sparking chaos and raising questions over poor urban planning.

Gold prices get reprieve as dollar slips, rate hike bets check advance

The dollar index eased 0.4% on Wednesday, making gold less expensive for overseas buyers

Investors snap up Indian govt bonds ahead of inclusion in global indexes

The central bank removed foreign investment caps for a number of securities under the 'fully accessible route' (FAR) in April 2020 to help meet a key requirement of index providers

Dollar pushes towards 24-year peak versus yen after US inflation data

The dollar rose as high as 144.965 yen in the Asian session, taking it close to the high of 144.99 hit a week ago, a level not seen since August 1998

Oil prices creep higher on robust global demand, rate hike outlook

Oil prices inched higher in early trade on Wednesday as OPEC stuck to forecasts for robust global fuel demand growth, offsetting concerns of another U.S. Federal Reserve interest rate hike next week

Dollar index sees biggest single-day percentage gain since March 2020

It was still below last week's two-decade peak of 110.79. The index turned positive after the data release

JPMorgan, Bank of America cautious on job cuts as Goldman layoffs loom

That stance compares with plans by Goldman Sachs Group Inc to cut jobs as early as this month after pausing the annual practice for two years during the pandemic

Oil prices tumble 2%, reversing gains after bearish US economic data

U.S. commercial oil stocks were forecast to have risen 800,000 barrels during the same week, analysts forecast in a Reuters poll

Putin, Modi to discuss trade, food supplies on Friday in Uzbekistan

The meeting will be held on the sidelines of a summit of the Shanghai Cooperation Organisation, a regional security bloc

JPMorgan and BofA cautious on job cuts as Goldman Sachs' layoffs loom

As the risk of recession looms and the Federal Reserve raises interest rates to curb inflation, deal markets have dried up

UK unemployment hits lowest since 1974 but jobs boom is fading

However, the fall was not a sign of health in Britain's economy which is at risk of a recession

Boeing deliveries rose in August as it resumed 787 Dreamliner handovers

Boeing deliveries in July had fallen to a five-month low of 26 airplanes, highlighting pressure on global supply chains