(Reuters) -Wall Street's main indexes edged lower on Tuesday as investors anxiously awaited key inflation reports that could influence the Federal Reserve's interest rate decision next week. Among the S&P 500's 11 major industry sectors, communication services, up 2.5%, was the biggest gainer with a strong boost from Google-parent Alphabet, whose shares rose 5.3% after it unveiled a new-generation chip. The weakest sectors were rate-sensitive real estate, down 1.4%, and technology, down 1%. Te...Read More
NEW DELHI (Reuters) - Elon Musk's Tesla has resumed its search for showroom space in New Delhi, two sources told Reuters, in the first sign it is rethinking entering the Indian market after putting its investment plans on hold earlier this year. Musk said in April he would meet Indian Prime Minister Narendra Modi during a trip where he was to potentially announce an investment of $2-3 billion in India. However, he called off his visit at the last moment after Tesla decided to sack 10% of its st...Read More
NEW DELHI, Dec 11 (Reuters) - London copper prices climbed to a nearly one-month high on Wednesday, as markets drew support from top consumer China's recent announcement that it will ease monetary policy and adopt a proactive fiscal policy to propel growth next year. Three-month copper on the London Metal Exchange (LME) was up 0.8% at $9,290 per metric ton, as of 0353 GMT. The contract briefly touched $9,314 per metric ton, its highest level since Nov. 12. The most-traded January copper contra...Read More
SOLAPUR, India (Reuters) - India is likely to produce a record amount of sugar in the next marketing year from October after millions of farmers expanded cane cultivation, encouraged by ample water supplies and declining prices of competing crops, farmers and industry officials told Reuters. The rebound in production would allow the world's second-largest sugar producer to resume exports in 2025/26, they said, after a lack of rain cut cane yields and led to two years of restrictions. Indian ex...Read More
NEW DELHI (Reuters) - The Reserve Bank of India on Friday raised the interest rate ceiling that banks can offer for foreign currency non-resident (FCNR-B) deposits to boost forex inflows at a time when the currency has been regularly hitting all-time lows. A FCNR-B is a term deposit account that non-resident Indians (NRIs) can open with banks in a foreign currency. Since the account is maintained in a foreign currency, the depositor is not exposed to exchange rate risk, making it attractive for...Read More
Last week, the Indian Coast Guard said they found the device on a Myanmar boat they seized near the Andaman and Nicobar islands. This was the biggest such drug bust by the Coast Guard, authorities said. They reportedly seized 6,000kg (13,227 lb) of methamphetamine from the boat. Police estimated it was worth $4.25bn (£3.35bn). Police in the Indian archipelago of Andaman and Nicobar say they have arrested six Myanmar nationals in the case. Starlink has been aiming to launch services in India s...Read More
MUMBAI (Reuters) - Foreign investors have stepped up buying of Indian government bonds in the last four sessions, after weaker-than-expected economic growth data last week spurred expectations of monetary policy easing by the central bank. These investors net bought bonds worth over 90 billion rupees ($1.06 billion) under the Fully Accessible Route till Wednesday, a majority of which are part of JPMorgan's debt index, data from Clearing Corporation of India showed. Foreign investors heavily so...Read More
BENGALURU (Reuters) - The Indian rupee will break through 85 per U.S. dollar to hit a new low in the next six months even as the Reserve Bank of India continues to intervene to stem the currency's losses, according to a Reuters poll of FX strategists. The results come days after news that growth in India, the world's fastest growing major economy this year, unexpectedly slowed sharply to an annual 5.4% in the latest quarter, triggering speculation the RBI may cut interest rates on Friday. Only...Read More
Dec 3 (Reuters) - India's top renewable energy agency said on Tuesday it withdrew its ban prohibiting Reliance Power (RPOL.NS), opens new tab from participating in tenders for clean energy projects after a court directive. Last month, the Solar Energy Corporation of India (SECI) had barred Reliance Power from bidding for its tenders for three years and was weighing criminal proceedings against the company after a bank guarantee turned out to be a fake endorsement. The High Court of Delhi had g...Read More
Novo Nordisk's team in India has been pushing the Danish drugmaker's global leadership for an earlier launch of its popular weight-loss drug Wegovy over fears of falling behind rival Eli Lilly in the potentially huge market, two sources familiar with the plans told Reuters. Officials at the Danish drugmaker have said Wegovy might be introduced in India in 2026 once regulatory approvals are in hand and there is sufficient supply. More recently, Novo's India team proposed moving the launch to nex...Read More
FRANKFURT (Reuters) - Import tariffs expected to be implemented by the administration of U.S. President-elect Donald Trump could lower economic growth and inflation in the 20 nations sharing the euro, European Central Bank board member Piero Cipollone said on Tuesday. Most economists agree that the possible tariffs would impact growth, though views diverge on the effect on consumer prices. Some argue the U.S. trade barriers will push up the value of the dollar, making imports of key commoditie...Read More
The Russian Defence Ministry announced that its military forces have taken control of two new settlements: Romanivka in Ukraine's eastern Donetsk region and Novodarivka in Ukraine's southern Zaporizhzhia region. Reuters could not independently verify the report. The Russian Defence Ministry announced on Tuesday that Russian forces have seized control of two additional settlements in Ukraine. The territories include Romanivka, located in the eastern Donetsk region, and Novodarivka, situated in t...Read More
Bangladesh's political landscape has plunged into chaos since the ouster of former Prime Minister Sheikh Hasina on August 5. Extremist groups have reportedly targeted minorities, escalating the crisis and sparking calls for the protection of religious minorities in both Bangladesh. The International Society for Krishna Consciousness (ISKCON) has also come under intense scrutiny since the arrest of Chinmoy Krishna Das, a former ISKCON leader, for allegedly disrespecting Bangladesh's national fla...Read More
DUBAI (Reuters) - The Syrian army and allied forces confronted an attack launched by forces affiliated with the Syrian Democratic Forces alliance on villages in the northern countryside of Deir Al Zor province on Tuesday, state news agency (SANA) reported. The SDF is a Kurdish-led alliance in north and east Syria which worked with the U.S.-led coalition against Islamic State. Spearheaded by the Kurdish People's Protection Units (YPG) and including Arab fighters, it holds a quarter of Syria, inc...Read More
LONDON (Reuters) - Britain's problem with people leaving the labour market was a little bit less acute than previously thought, the country's statistics agency said as it adjusted its calculations based on new population estimates and made other changes. The Office for National Statistics said on Tuesday the inactivity rate - which measures people not in work and who are not looking for it - was estimated at 22.1% in the April-to-June period, compared with a previous estimate of 22.2%....Read More
JAKARTA (Reuters) - Indonesia and Canada on Monday signed a Comprehensive Economic Partnership Agreement (CEPA) that aims to strengthen economic ties between the two G20 members, three years after negotiations began. The agreement will take effect in 2026 and was signed in Jakarta by trade ministers of both countries. Indonesia's trade minister, Budi Santoso, said Indonesia appreciated Canada's support for its plan to prioritise its critical minerals sector, which was vital for its sustainable...Read More
PARIS (Reuters) - France's far-right National Rally (RN) party will likely back a no-confidence motion against the government in the coming days unless there is a "last minute miracle", RN president Jordan Bardella said on Monday. RN lawmaker Marine Le Pen has given Prime Minister Michel Barnier until Monday to yield to the party's budget demands or face the threat that they would back a no-confidence motion against his government, which would lead to its collapse. "The RN will trigger the no-...Read More
(Reuters) - The euro dropped versus a strengthening dollar on Monday, with investors concerned about political developments in France. France's far-right National Rally (RN) party will likely back a no-confidence motion against the government in the coming days unless there is a "last minute miracle", RN president Jordan Bardella said on Monday. The growing uncertainty over France's budget pushed the risk premium on the government's bonds to a more than 12-year high last week....Read More
The new circle rates in Gurugram have come into effect from December 1 Gurugram: People eyeing a home in Gurugram will now have to pay more as the district administration has hiked the circle rates by 10% to 30%, driven mainly by demand. Luxury residential areas like Golf Course Road are likely to see a 30% hike in circle rates. According to reports, the new circle rates have come into effect from December 1 and will be applicable at least till March 31 next year. The price hike, however, has...Read More
MOSCOW (Reuters) - A summit of the BRICS countries held in the Russian city of Kazan in October was a slap in the face for Western nations which imposed sanctions on Russia, the CEO of Russia's second largest lender VTB Andrei Kostin told Reuters in an interview. "Twenty three leaders came to Kazan for the BRICS summit. This is a certain statement, even a slap in the face to the Americans. It is significant that there is support for Russian initiatives and a rejection of U.S. policies," Kostin ...Read More
Iran plans to significantly expand its uranium enrichment capacity, raising proliferation concerns despite claims of peaceful intent Iran has informed the UN nuclear watchdog that it plans to install more than 6,000 extra uranium-enriching centrifuges at its enrichment plants and bring more of those already in place online, a confidential report by the watchdog said on Thursday. The International Atomic Energy Agency report seen by Reuters details what Iran meant when it said it would add thou...Read More
India plans to expand electric vehicle incentives to automakers building models at existing factories in the country, instead of limiting the benefits to automakers willing to build new plants, a person with direct knowledge of the matter said. India's EV policy, which is still being finalised, was originally designed to encourage Tesla to enter the market and manufacture locally but the U.S. automaker backed off from those plans earlier this year. Other foreign automakers have shown interest ...Read More
NEW DELHI (Reuters) - India plans to expand electric vehicle incentives to automakers building models at existing factories in the country, instead of limiting the benefits to automakers willing to build new plants, a person with direct knowledge of the matter said. India's EV policy, which is still being finalised, was originally designed to encourage Tesla (NASDAQ:TSLA) to enter the market and manufacture locally but the U.S. automaker backed off from those plans earlier this year. Other...Read More
(Reuters) - France's economy grew 0.4% in the third quarter of 2024, official data from the country's statistics office INSEE showed on Friday, driven by positive fallbacks from the Paris Olympics. According to the institute, France's gross domestic product (GDP) grew by an average of 0.4% over the July-September period, confirming the preliminary figure published in October. A Reuters poll of 25 economists had on average forecast 0.4% growth in the third quarter. "Household consumption recov...Read More
IMAGE: McLaren could clinch their first constructors' crown since 1998 on Sunday if they outscore Ferrari by 21 points at the Qatar F1 Grand Prix. Photograph: Henry Romero/Reuters Ferrari and McLaren, Formula One's oldest rivals, take their constructors' title fight into a penultimate round in Qatar this weekend with both battling to end years of waiting to be champions again. After Red Bull's Max Verstappen celebrated his fourth successive drivers' title in Las Vegas last Saturday, the focus ...Read More
Adani Group's listed stocks, which at one point saw as much as $34 billion wiped off their market value, meanwhile recovered ground as some partners and investors rallied behind it. State Bank of India will not stop lending to ongoing Adani projects that are nearing completion, two sources told Reuters, but will exercise caution when disbursing loans to ensure all terms and conditions are being met. Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI Bank and RBL Bank, which have relative...Read More
SINGAPORE, Nov 28 (Reuters) - The following table details Singapore's onshore oil products inventory held by up to 14 major oil and oil storage companies, as of Nov. 27, according to data released on Thursday by Enterprise Singapore. For longer-term historical data on stock levels, click <0#STKOIL-SIN>. For weekly imports and exports by specific product, click. For a list of imports and exports by product and country of origin/destination, click. Figures in thousands of barrels, with weekly chan...Read More
European nations are investigating a Chinese cargo ship for underwater sabotage in the Baltic Sea, according to a report. Earlier this month, two undersea fibre-optic data cables were cut in the Baltic Sea. The first cable was damaged between Sweden and Lithuania and the second cable was damaged between Germany and Finland. Shortly after the damage was discovered, Sweden took the lead in investigations and European nations -- all members of the North Atlantic Treaty Organization (Nato) -- began...Read More
SEOUL (Reuters) - South Korea's export growth is expected to have slowed for a fourth straight month in November and to be the weakest in 14 months on slowing demand in the United States amid tariff policy uncertainty, a Reuters poll showed on Thursday. Outbound shipments from Asia's fourth-largest economy are forecast to have risen 2.8% in November from a year earlier, after a gain of 4.6% in October, according to a median of 14 economists in the survey. That would be the 14th straight month ...Read More
(The views expressed here are those of the author, a columnist for Reuters.) By Clyde Russell LAUNCESTON, Australia, Nov 28 (Reuters) - Asia's imports of crude oil ticked up slightly in November, led by a recovery by top importer China, but arrivals are still on track to be weaker this year than in 2023. The top crude-buying region is forecast to import 26.42 million barrels per day (bpd) in November, up marginally from October's 26.11 million bpd and 26.24 million bpd in September, according...Read More