NEW DELHI: In the biggest consolidation deal in India’s telecom sector, Reliance Communications and Aircel on Wednesday announced the merger of their wireless operations to create a combined entity with assets worth Rs 65,000 crore. RCom and Maxis Communications Berhad (MCB) hold 50% each in the merged entity with equal ... Read More »

MUMBAI: The rupee staged a modest comeback after a three-straight day fall against the US dollar to end 3 paise higher at 66.89 on easing fears of an imminent US Fed rate hike amid softer overseas sentiment. Fresh dollar selling by banks and exporters largely helped the home currency to ... Read More »

Oil prices fell 4 percent on Friday, paring most of the previous session’s rise as traders noted that a tropical storm was behind this week’s unexpected slump in U.S. crude inventories. The market ended up around 3 percent, its first gain in three weeks. Traders cited hopes for a global ... Read More »

Stocks across the globe fell the most since June on Friday, weighed by comments from Federal Reserve officials that lifted bets on an interest rate hike and after German trade data cast doubt on the strength of the euro zone’s largest economy. German exports fell sharply in July, shrinking the ... Read More »

Investors rekindled their love affair with emerging markets this year, pouring billions of dollars into their stocks and bonds, but the prospect of the Federal Reserve raising U.S. interest rates threatens to cool the relationship once again. Higher U.S. rates and bond yields tend to make emerging market assets relatively ... Read More »

Flows into commodity investments have hit their highest levels since the global financial crisis as negative interest rates boost the appeal of real assets, but they risk reversing as rallies falter in metals and oil. The threat of investors liquidating their commodity stakes has climbed in recent years as speculative ... Read More »

India aims to reduce its hydrocarbon imports by 10 percent by 2022 through increasing domestic output, fuel efficiency and the use of alternative energy, its oil minister said on Friday. India currently imports 70-75 percent of its energy requirements, Minister of State for Petroleum and Natural Gas Dharmendra Pradhan told ... Read More »

Hindustan Petroleum Corp Ltd (HPCL.NS) shut a unit at its 130,000 barrels per day (bpd) refinery in Mumbai last week due to a technical glitch, and has since been importing gasoline, the head of its refineries told Reuters on Friday. BK Namdeo said the refinery’s reformer unit was shut on ... Read More »

Lower food prices likely cooled India’s inflation rate in August, a Reuters poll showed, but probably not by enough to give the central bank scope to ease monetary policy again anytime soon.Official data on the consumer price index is due to be released at 1200 GMT on Monday. The median ... Read More »

A steel industry plan to change its pension scheme and allow the sale of Tata’s British operations is likely to be scrapped in favour of a fix that avoids a political row, government and industry sources told Reuters. Tata in March put its British steel operations up for sale, saying ... Read More »

KOLKATA: Indian Oil Corporation Ltd will start moving petroleum goods to Tripura via Bangladesh from Friday. The first convoy of tank trucks will be flagged-off from IOCL’s Guwahati terminal by executive director Dipankar Roy. This convoy of seven tank trucks will carry 84,000 litres of diesel and kerosene to Tripura ... Read More »

HYDERABAD: Hyderabad-based pharma player Suven Life Sciences Ltd (Suven) on Thursday informed the bourses that it has secured one product patent each from Canada, Europe and Hong Kong. “Suven has been granted one product patent each from Canada (2785838), Europe (2888243) and Hong Kong (HK 1187340) corresponding to new chemical ... Read More »