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BENGALURU, India, June 5 (Reuters) - Indian Premier League franchise Royal Challengers Bengaluru have pledged one million Indian rupees ($11,654) to each family of the 11 fans who died in a crowd surge outside the team's home stadium on Wednesday during celebrations following their maiden IPL title. The franchise will also launch a support fund for the injured. At least 11 people died and 47 were injured in the crowd surge as thousands of people lined the streets around the Chinnaswamy Stadium ...Read More >
NEW DELHI, June 5 (Reuters) - India is holding talks with companies to establish long-term stockpiles of rare earth magnets by offering fiscal incentives for domestic production, people familiar with the matter said. Building such a supply chain could take years, but would reduce India's dependence on shipments from China, which sent shockwaves across global industries, particularly autos, with its April 4 move to curb exports of rare earth materials. China controls 90% of the processing of su ...Read More >
NEW DELHI, June 5 (Reuters) - Indian and U.S. are holding high-level talks this week, aiming to finalise tariff cuts in sectors such as farm and automobiles as part of an interim deal, two government sources said, with an announcement likely later this month. A U.S. delegation led by senior officials from the Office of the United States Trade Representative (USTR) began closed-door, two-day discussions in New Delhi on Thursday with Indian trade officials headed by chief negotiator Rajesh Agrawa ...Read More >
NEW DELHI, June 2 (Reuters) - India's key iron ore producer NMDC (NMDC.NS), opens new tab is testing a new pricing formula for its output to shield its profits from the volatilities reflected in global benchmarks, a source with direct knowledge of the matter told Reuters. State-run NMDC, which sells its output locally, currently releases monthly iron ore prices linked to inventories, international prices and domestic market dynamics. The company plans to launch the new formula after initial tr ...Read More >
NEW DELHI, May 23 (Reuters) - India will push the Financial Action Task Force (FATF), a global financial crime watchdog, to add arch-rival Pakistan to its "grey list", a top government source in New Delhi said on Friday. Pakistan was taken off the FATF grey list in 2022, boosting its reputation among lenders - which is essential for the crisis-hit economy. India will also oppose upcoming World Bank funding for Pakistan, amid renewed tensions between the two nuclear-armed neighbours, the govern ...Read More >
Jan 31 (Reuters) - India's LIC Housing Finance (LICH.NS), opens new tab reported a bigger-than-expected third-quarter profit on Friday, helped by healthy asset quality. The company said its profit after tax for the quarter ended Dec. 31 rose 23% to 14.32 billion rupees ($165.4 million). Analysts had expected a profit of 12.85 billion rupees, according to data compiled by LSEG. LIC Housing has seen an improvement in asset quality over the last few quarters, leading to lower funds being set asid ...Read More >
Dec 18 (Reuters) - India will not rush Mohammed Shami return to international cricket in the last two tests in Australia unless they are "200% sure" about the seamer's fitness, captain Rohit Sharma said on Wednesday. Shami has not played international cricket since the 50-overs World Cup last year because of an ankle injury that needed surgery. The 34-year-old, an automatic choice as India's second seamer when fit, has returned to domestic cricket to prove his fitness. The lack of support for ...Read More >
NEW DELHI, Dec 12 (Reuters) - India's retail inflation eased in November as soaring vegetable prices moderated, boosting expectations of an interest rate cut by the central bank at its next policy review amid concerns around slowing growth. Retail inflation (INCPIY=ECI), opens new tab eased in November to 5.48%, lower than 6.21% in the previous month and below a 5.53% forecast by economists in a Reuters poll. Food inflation slowed down to 9.04% from 10.87% a month earlier. Food accounts for ne ...Read More >
NEW DELHI, Dec 12 (Reuters) - India's steel ministry on Thursday announced a formula for defining 'green steel,' classifying it under three categories based on the quantity of carbon emissions per metric tonne of the alloy produced. Steel produced with carbon dioxide emissions of less than 2.2 tonne per tonne of finished steel would be defined as "green steel," a ministry presentation released in New Delhi showed. Steel produced with emissions below 1.6 tonnes per tonne of alloy would be class ...Read More >
NEW DELHI, Dec 12 (Reuters) - India is weighing imposition of a "safeguard duty", or a temporary tax, on steel, the steel minister, H.D. Kumaraswamy, said on Thursday, as it attempts to rein in a flood of cheap imports from China. The world's second-biggest producer of crude steel, India became a net importer of the alloy in the fiscal year to March 31, with imports surging to a seven-year high during the first seven months of the current financial year. The ministry has sought imposition of 2 ...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 >
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