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☆ IT, financials lead slide in Indian shares; inflation data eyed
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: 1 min

A bird flies past a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai, February 1, 2023. REUTERS/Niharika Kulkarni/File Photo Acquire Licensing RightsBENGALURU, Nov 13 (Reuters) - Indian blue chips opened lower on Monday, dragged by information technology (IT) and financial stocks, while investors awaited domestic retail inflation data for October. The NSE Nifty 50 index (.NSEI) was down 0.35% at 19,456.75 as of 9:18 a.m. IST, while the S&P BSE Sensex (.BSESN) fell 0.40% to 64,995.73. The benchmarks Nifty 50 (.NSEI) and Sensex (.BSESN) hit three-week highs in the special one-hour "muhurat" trading session on Sunday, led by gains in energy and information technology stocks. Reporting by Bharath Rajeswaran in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

Persons: Niharika Kulkarni, Bharath Rajeswaran, Eileen Soreng Organizations: Bombay Stock Exchange, REUTERS, Rights, NSE, BSE, Thomson Locations: Mumbai, Bengaluru

☆ India's Kuldeep expects tough semi-final for bowlers in Mumbai
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Nov 13 (Reuters) - Indian spinner Kuldeep Yadav expects the bowlers to have a tough time at Mumbai's batsman-friendly Wankhede Stadium when the hosts take on New Zealand in their World Cup semi-final on Wednesday. Unlike in Twenty20, the bowlers have plenty of time to come back into the game," Kuldeep told reporters on Sunday after India beat the Netherlands. "But yes, you need a couple of early wickets to get on top of the game and the opponents." "Our preparation has been good and we've been able to play good cricket throughout the tournament. Kuldeep has claimed 14 wickets during India's run of nine straight victories at the tournament.

Persons: Kuldeep Yadav, Glenn Maxwell, Kuldeep, We've, we've, Shrivathsa Sridhar, Ed Osmond Organizations: New Zealand, England, Bangladesh, Sri, Afghanistan, India, Thomson Locations: BENGALURU, New, Africa, India, Sri Lanka, Australia, Netherlands, Zealand, Bengaluru

☆ Three Indian cities among world's 10 most polluted after Diwali
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, Nov 13 (Reuters) - Two Indian cities joined New Delhi to be among the world's worst 10 for pollution on Monday morning, with smoke heavy in the air a day after revellers let loose with firecrackers for Diwali - the annual Hindu festival of light. It had an air quality index (AQI) figure of 420, putting it the 'hazardous' category, according to Swiss group IQAir. An AQI level of 400-500 impacts healthy people and is dangerous to those with existing diseases, while a level of 150-200 brings discomfort to people with asthma, lung and heart problems. Every year authorities impose bans on firecrackers in the capital, but only rarely do those bans appear to be enforced. Air quality in India deteriorates every year ahead of winter, when cold air traps pollutants from vehicles, industry, construction dust and agricultural waste burning.

Persons: Tanvi Mehta, Edwina Gibbs Organizations: Thomson Locations: DELHI, New Delhi, Swiss, Kolkata, India's, Mumbai, India

☆ Diwali, the Festival of Lights, explained
▼ + stars: | 2023-11-11 | by ( Manav Tanneeru | Harmeet Kaur | ) edition.cnn.com time to read: +6 min

CNN —More than a billion Hindus, Sikhs, Jains and Buddhists around the world are celebrating Diwali, the festival of lights. Narinder Nanu/AFP/Getty Images• Choti Diwali, or Naraka Chaturdashi: The second day of Diwali marks Lord Krishna’s defeat of the demon king Narakasura. • Diwali, or Lakshmi Puja: The third day of the festival is what people typically think of as Diwali. For some Hindus, Diwali marks Rama and Sita’s triumphant return to their kingdom after 14 years of exile. For Jains, Diwali signifies the day Lord Mahavira, their last spiritual leader, attained physical death and achieved enlightenment.

Persons: It’s, Rafiq Maqbool, Lakshmi, Dhanvantari, Ayurveda, Narinder Nanu, Krishna’s, Narakasura, •, Krishna, Lord Indra’s, • Bhai Dooj, Lord Yama, tilak, Prince Rama, Vishnu, Sita, Ravana, Rama, Sita’s, Xavier Galiana, Lord Krishna’s, Bali, Bandi, Hargobind, Emperor Jahangir, Jahangir, Guru Hargobind, Mahavira, Emperor Ashoka, Manjunath Kiran, patti, Shiva, Parvati Organizations: CNN, Getty, Lord Locations: India, Nepal, Malaysia, Fiji, Homes, Mumbai, AFP, Vrindavan, Bangalore

☆ Pakistan’s Lahore is the latest megacity to shut down as pollution chokes swathes of South Asia
▼ + stars: | 2023-11-10 | by ( Rhea Mogul | ) edition.cnn.com time to read: +4 min

CNN —Lahore has become the latest megacity to shut down as pollution chokes swathes of South Asia, where nearly 50 million people have been breathing toxic air for nearly a week. Commuters make their way through a busy street amid smoggy conditions in Lahore on November 7, 2023. The PM2.5 levels in all these cities far exceed the World Health Organization’s limit and illustrate a growing concern for South Asian countries as they experience rapid industrializations and population booms that are fueling pollution levels. Commuters make their way along the Signature Bridge amid heavy smog conditions in New Delhi on November 9, 2023. The study also found that every single one of India’s 1.4 billion residents endures annual average pollution levels that exceed guidelines set by the World Health Organization.

Persons: Mohsin Naqvi, Arif Ali, Arun Sankar Organizations: CNN, Authorities, Lahore –, Getty, Getty Images Dhaka, Energy, Institute, University of Chicago, World Health Organization, Doctors Locations: Lahore, South Asia, Swiss, Pakistan’s Punjab, Gujranwala, Hafizabad, AFP, Pakistan, India, New Delhi, Haryana, Punjab, Uttar Pradesh, India’s, Kolkata, Mumbai, Bangladesh, Delhi

☆ Indian capital gets a breather as rain brings respite from smog
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

India's weather department has forecast intermittent rain over the city and adjoining areas till early noon on Friday. Meanwhile, air in the financial capital of Mumbai has markedly improved due to showers in nearby coastal areas. This year, attention on the worsening air quality has cast a shadow over the cricket World Cup hosted by India. Scientists and authorities were planning to seed clouds in New Delhi around Nov. 20 to trigger heavy rain, the first such attempt to clean the air. Friday's rain comes two days before the Diwali festival, when many people defy a ban on firecrackers, causing a spike in air pollution.

Persons: Anushree, Tanvi Mehta, Rajendra Jadhav, Raju Gopalakrishnan Organizations: REUTERS, India, Thomson Locations: New Delhi, India, DELHI, Swiss, Punjab, Haryana, Rajasthan, Kolkata, India's, Mumbai

☆ LSEG says FX system briefly impacted by technical glitch, it is investigating
▼ + stars: | 2023-11-10 | by ( Swati Bhat | ) www.reuters.com time to read: +2 min

REUTERS/Francis Mascarenhas//o/File Photo Acquire Licensing RightsMUMBAI, Nov 10 (Reuters) - Financial technology and data provider LSEG said on Friday it had resolved a technical incident that affected its Indian foreign exchange trading platform earlier in the day and was investigating what had happened. Whether standard operating procedures were followed and a business continuity plan was put in place when the system went down". "They are keen to find out if the issue was due to a system failure or some human error," the source said. Six traders said there was a system outage for about 10 minutes on the spot dollar/rupee trading platform during which they had been unable to transact. LSEG said earlier on Friday that all indices compiled by FTSE Russell, which it also owns, were hit by a technical issue that prevented them being published for forty minutes.

Persons: Francis Mascarenhas, LSEG, Swati Bhat, Alun John, Jon Boyle, Catherine Evans Organizations: Bank of India, REUTERS, Rights, Reuters, Reserve Bank of India, FTSE Russell, London Stock Exchange Group, Thomson Reuters, Thomson Locations: Mumbai, India, Rights MUMBAI, LSEG, London

A billboard for the Netflix film "Thar" is seen on a street in Mumbai, India, May 19, 2022. "Every broadcaster or broadcasting network operator must establish a Content Evaluation Committee (CEC) with members from various social groups," stated the draft law document, which is open for public consultation for 30 days. The proposal however comes at a time of increasing scrutiny of streaming companies in India over content-related issues. Under the new proposed law, the federal government "can define the CEC's size, quorum, and operational details" and only those shows shall be broadcast that are "duly certified" by such a committee, the draft law stated. The law will also provide powers to the government to regulate any online creator or news media platform, Gupta added.

Persons: Francis Mascarenhas, Anurag Thakur, Apar Gupta, Gupta, Aditya Kalra, David Evans Organizations: Netflix, REUTERS, Disney, Media Partners, Reuters, Thomson Locations: Mumbai, India, DELHI, New Delhi

☆ Indian rupee falls to record low, next week crucial to gauge new range
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

MUMBAI, Nov 10 (Reuters) - The Indian rupee dropped to a record low against the U.S. dollar on Friday, which alongside the outage of the interbank order matching system, prompted the central bank to step in. The rupee dropped to a record low of 83.42 to the dollar and was last at 83.3925. "On why the RBI today decided that (allow rupee to drop below 83.30), it's impossible to say," a forex trader at a bank said. Next week will be very important to see if a new range has been made." He, however, said that the range in the USD/INR has now shifted higher.

Persons: Alok Sharma, Arnob Biswas, Nimesh Vora, Sonia Cheema Organizations: U.S, Reserve Bank of India, SMC Global Securities, Thomson Locations: MUMBAI, ICBC

☆ India to get electric air taxis in 2026 via InterGlobe, Archer venture
▼ + stars: | 2023-11-09 | by ( Chris Thomas | ) www.reuters.com time to read: +2 min

[1/4] Midnight, an all-electric aircraft from company Archer Aviation, is seen at the Salinas Municipal Airport in Salinas, California, U.S. August 2, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsBENGALURU, Nov 9 (Reuters) - InterGlobe Enterprises, which backs India's top airline IndiGo, and U.S.-based Archer Aviation (ACHR.N) will launch an all-electric air taxi service in India in 2026 that will be "cost-competitive" with on-road services, the companies said Thursday. The companies said that a trip that typically takes 60 to 90 minutes by car in Delhi, for example, will take about 7 minutes in an air taxi. InterGlobe Enterprises, which owns nearly 38% of IndiGo-parent InterGlobe Aviation (INGL.NS) as well as hospitality and logistics businesses, also plans to use the e-aircraft for cargo, logistics, medical, emergency and charter services. Archer secured a $142 million-deal from the U.S. Air Force in July to provide six Midnight aircraft and said in October it would launch an air taxi service in the UAE.

Persons: Carlos Barria, Archer, Archer Aviation's, InterGlobe Aviation's, Chris Thomas, Savio D'Souza Organizations: Archer Aviation, Salinas Municipal Airport, REUTERS, Rights, InterGlobe Enterprises, IndiGo, Chrysler, Boeing, United Airlines, InterGlobe Aviation, U.S . Air Force, Midnight, Thomson Locations: Salinas, Salinas , California, U.S, India, Delhi, Mumbai, Bengaluru, UAE

☆ HSBC to build large personal banking business in India - country CEO
▼ + stars: | 2023-11-09 | by ( Ira Dugal | ) www.reuters.com time to read: +2 min

HSBC Bank logo is seen in this illustration taken March 12, 2023. The bank has long had a retail, or personal, banking business in India, but has not focused on building that up, Dave said. "We intend to build a very large retail, or what we call a personal, banking business." Global banking and markets and commercial banking are the largest contributors to the India business. HSBC India's wealth and personal banking segment, which includes private banking, mortgages and asset management, contributed $35 million or 4.6% to its profit before tax in the first six months of 2023.

Persons: Dado Ruvic, Hitendra Dave, Dave, Ira Dugal, Jan Harvey Organizations: HSBC Bank, REUTERS, Rights, HSBC, Reuters, Global, Thomson Locations: Rights MUMBAI, India, HSBC India

Stock prices fell in Hong Kong, Bangkok and Mumbai and rose in Tokyo, Seoul and Shanghai. U.S. futures slipped and oil prices edged higher. American Airlines, Delta Air Lines and United Airlines were also toward the front of the market, each gaining more than 2% as oil prices continued to drop and ease the pressure on fuel costs. A recent sharp drop in oil prices has relieved some inflationary pressure, raising the likelihood the Fed might hold rates steady instead of raising them further. The price for a barrel of U.S. crude oil has fallen from above $90 to back to where it was in July, and it dropped another $2.04 to settle at $75.33 on Wednesday.

Persons: ” Robert Carnell, disinflation, ”, Hang Seng, Fumio Kishida, Eli Lilly, Jerome Powell, Brent Organizations: ING Economics, Nikkei, Dow Jones, Nasdaq, American Airlines, Delta Air Lines, United Airlines, Warner Brothers Discovery, Federal, New York Mercantile Exchange, Brent, U.S Locations: BANGKOK, Asia, Hong Kong, Bangkok, Mumbai, Tokyo, Seoul, Shanghai . U.S, China, Shanghai, Australia, Israel

☆ Toxic foam coats sacred river near New Delhi as Indian capital battles hazardous pollution
▼ + stars: | 2023-11-09 | by ( Rhea Mogul | ) edition.cnn.com time to read: +3 min

CNN —A thick layer of toxic foam has once again coated parts of a sacred river near New Delhi as the Indian capital battles an acrid and noxious smog that has settled across the city. The pungent foam contains high levels of ammonia and phosphates, which can cause respiratory and skin problems, according to experts. Yamuna river covered with a thick layer of toxic foam due near Kalindi Kunj, on September 10, 2023 in New Delhi, India. The river is most polluted in areas surrounding Delhi, owing to the area’s dense population and high levels of waste. Pictures from September also showed toxic foam forming on the Yamuna.

Persons: Salman Ali, Surya Organizations: CNN, Press Trust of India, Hindustan Times Locations: New Delhi, India’s, Tamil Nadu, Kalindi, India, Delhi, Oslo, Beijing, Kolkata, Mumbai

☆ Indian Capital Gets a Breather as Rain Brings Respite From Smog
▼ + stars: | 2023-11-09 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

NEW DELHI (Reuters) - Overnight rain in New Delhi and its suburbs brought some relief to the Indian capital on Friday morning, where authorities were mulling seeding clouds to improve the toxic air gripping the city. India's weather department has forecast intermittent rain over the city and adjoining areas till early noon on Friday. Meanwhile, air in the financial capital of Mumbai has markedly improved due to showers in nearby coastal areas. This year, attention on the worsening air quality has cast a shadow over the cricket World Cup hosted by India. Friday's rain comes two days before the Diwali festival, when many people defy a ban on firecrackers, causing a spike in air pollution.

Persons: Tanvi Mehta, Rajendra Jadhav, Raju Gopalakrishnan Organizations: India Locations: DELHI, New Delhi, Swiss, Punjab, Haryana, Rajasthan, Kolkata, India's, Mumbai

☆ Hazlewood expects Maxwell to face Bangladesh after Miracle of Mumbai
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +2 min

Nov 9 (Reuters) - Paceman Josh Hazlewood expects Glenn Maxwell to face Bangladesh in Australia's final round-robin match at the World Cup this weekend despite the gruelling nature of his spectacular innings against Afghanistan on Tuesday. Maxwell suffered the excruciating pain of all body cramps at Wankhede Stadium as he scored an unbeaten double century that has been hailed as the greatest one-day international innings of all time by cricketing luminaries. The unlikely three-wicket victory sent Australia into a semi-final against South Africa and rendered Saturday's clash against Bangladesh in Pune a dead-rubber but Hazlewood reckons Maxwell will still suit up for the match. "He went down like he was a shot, lying down like a dead man on the floor," team physiotherapist Nick Jones recalled on Cricket Australia's website. Maxwell did get up and, despite struggling to move, relied on his natural batting instincts to complete the extraordinary innings.

Persons: Josh Hazlewood, Glenn Maxwell, Maxwell, Hazlewood reckons Maxwell, Nick Jones, Glenn, Jones, Nick Mulvenney, Peter Rutherford Organizations: Afghanistan, South, Bangladesh, News Ltd, cramp, Cricket, Thomson Locations: Bangladesh, Australia's, Australia, South Africa, Pune

☆ New Zealand's Boult excited by prospect of facing India in World Cup semis
▼ + stars: | 2023-11-09 | by ( Shrivathsa Sridhar | ) www.reuters.com time to read: +2 min

Boult bagged 3-37 to help restrict Sri Lanka to 171 before New Zealand made short work of the chase to snap a run of four straight defeats, finishing their pool stage campaign with 10 points from nine games. "I can't speak on what they're thinking but from our point of view to play the World Cup in India and come up against the hosts, a team that's red hot playing good cricket at a great ground - you couldn't script it any better," Boult said. "Excited if that happens, I feel like we've done all we can from our point of view and we'll wait and see what happens." "But history suggests it's a good wicket," Boult said. Doesn't get any bigger than taking on India in front of 1.5 billion people.

Persons: Zealand's Trent Boult, Lanka's Charith Asalanka, Adnan Abidi, seamer Trent Boult, Boult, Doesn't, Shrivathsa Sridhar, Toby Davis Organizations: Cricket, ICC Cricket, Chinnaswamy, Lanka's Charith Asalanka REUTERS, Rights, Sri Lanka, England, New Zealand, Thomson Locations: New Zealand, Sri Lanka, Bengaluru, India, Afghanistan, South Africa, Pakistan, , New Zealand, Mumbai, New, Dharamsala

☆ Don't count Afghanistan out yet, says coach Trott
▼ + stars: | 2023-11-08 | by ( ) www.reuters.com time to read: +1 min

Nov 8 (Reuters) - Afghanistan have rebounded from defeat at the World Cup and can do so again, coach Jonathan Trott said after Tuesday's three-wicket loss to Australia in Mumbai. Afghanistan had Australia reeling at 91-7 chasing 292 before Glenn Maxwell's unbeaten 201 snatched a remarkable victory that sealed a semi-final slot for the five-time champions. "We lost the New Zealand game pretty heavily and came back and won the next game," Trott told reporters. Afghanistan had won only one match in their two previous World Cup campaigns but have already won four of their eight matches in India so far. Spinners were bowling different lengths, he was hitting that," Trott said of Maxwell.

Persons: Jonathan Trott, Glenn Maxwell's, " Trott, Maxwell, you've, Chiranjit, Peter Rutherford Organizations: New Zealand, England, Thomson Locations: Afghanistan, Australia, Mumbai, New Zealand, Pakistan, South Africa, India, Australian, Bengaluru

☆ India’s gamified equities are a wake-up call
▼ + stars: | 2023-11-08 | by ( Pranav Kiran | ) www.reuters.com time to read: +4 min

The result is an acceleration of Indian savings away from gold and real estate into financial products. However, it is also leading to what Ashish Gupta, chief investment officer at Axis Bank’s mutual fund, dubs “the gamification of Indian equities”. A frenzy for index options has driven up volume in the derivatives market to the tune of $4.3 trillion a day. Retail traders made up a higher share of equity derivatives turnover than their institutional counterparts on the National Stock Exchange between 2017 and 2021. Whatever the fix, it’s a reminder that India’s digital leapfrog which other developing countries are urgently trying to replicate has a dark side too.

Persons: Francis Mascarenhas, Ashish Gupta, Gupta, weren’t, Ananth Narayan, SEBI, Nithin Kamath, Zerodha, Lalit Keshre, Una Galani, Thomas Shum Organizations: Bombay Stock Exchange, REUTERS, Rights, Reuters, National Stock Exchange, Tiger, Securities, Exchange Board of India, Thomson Locations: Mumbai, India, U.S

☆ Indian shares rise as falling oil prices boost energy stocks
▼ + stars: | 2023-11-08 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsBENGALURU, Nov 8 (Reuters) - Indian shares rose on Wednesday, led by energy stocks, as crude prices fell, while a drop in high weightage financials after a recent rise capped gains. The NSE Nifty 50 index (.NSEI) was up 0.23% at 19,451.10 as of 10:07 a.m. IST, while the S&P BSE Sensex (.BSESN) rose 0.14% to 65,027.13. "Moderation in U.S. bond yields, positive earnings and a drop in crude oil prices are positive for the markets," said analysts at Centrum Institutional Research. Ten of the 13 major sectors rose, with energy (.NIFTYENR) and oil & gas (.NIFYOILGAS) rising 0.5% and 1%, respectively. ICICI Bank (ICBK.NS), SBI Life Insurance (SBIL.NS), Bajaj Finance (BJFN.NS), Kotak Mahindra Bank (KTKM.NS) were among the top Nifty 50 losers, shedding between 0.3% and 0.8%.

Persons: Francis Mascarenhas, Powell, Brent, Bharath Rajeswaran, Dhanya Ann Thoppil, Sohini Goswami, Nivedita Organizations: Bombay Stock Exchange, REUTERS, Rights, NSE, BSE, Centrum Institutional Research, Bharat Petroleum Corporation, ICICI Bank, SBI Life Insurance, Bajaj Finance, Kotak Mahindra Bank, Wall, U.S, Treasury, Nasdaq, Apollo Tyres, Prestige Estate, Thomson Locations: Mumbai, India, China, Bengaluru

India is considering a policy to mandate equipping smartphones with hardware to receive live TV signals without the need for cellular networks. It has proposed use of so-called ATSC 3.0 technology popular in North America that allows precise geo-locating of TV signals and provides high picture quality. The policy pushback is the latest from firms operating in India's smartphone sector. For India's government, the live TV broadcast features are a way to offload the congestion on telecom networks due to higher video consumption. Samsung tops India's smartphone market with a 17.2% share, while Xiaomi follows with a 16.6% share, according to research firm Counterpoint.

Persons: Shailesh Andrade, Munsif Vengattil, Aditya Kalra, Raju Gopalakrishnan Organizations: REUTERS, Samsung, Qualcomm, Reuters, Ericsson, Nokia, India Cellular and Electronics Association, Apple, Thomson Locations: Mumbai, India, DELHI, North America, South Korea, United States

The company's shares cost more than $400 two years ago but now cost less than $1. Australia's S&P/ASX 200 fell 0.3% to 6,977.10 after the central bank raised its key interest rate by 0.25 percentage points, to 4.35%. Elsewhere in Asia, shares rose in Taiwan but fell in Bangkok and Mumbai. Last week, the Federal Reserve held its main interest rate steady for a second straight time, leaving it at its highest level since 2001. It’s jacked up its federal funds rate from nearly zero in hopes of getting high inflation under control.

Persons: Korea’s Kospi, WeWork, Australia's, RBA, It’s, Brent Organizations: —, Tokyo's Nikkei, Reserve Bank of Australia, Dow Jones, Nasdaq, Treasury, Federal Reserve, Fed, New York Mercantile Exchange, U.S Locations: BANGKOK, Asia, Hong Kong, Tokyo, Shanghai, China, it's, Seoul, Taiwan, Bangkok, Mumbai, U.S, Saudi Arabia, Russia

☆ For global banks, India could soon be worth it
▼ + stars: | 2023-11-07 | by ( Pranav Kiran | ) www.reuters.com time to read: +5 min

The hot new business class ticket within Asia is in fact, Hong Kong to Mumbai. Before the pandemic, more than half of the Asian top line of U.S. bulge bracket banks typically came from Greater China which includes the mainland, Hong Kong, Macau and Taiwan. Overall, IPO fees in India have risen from 1% of proceeds in 2017 closer to 2% in recent years, LSEG data shows. Hong Kong bankers are not going to relocate to India any time soon but while they wait out a slow and uncertain recovery in China activity, the trip to India looks increasingly worthwhile. Proceeds from initial public offerings in India amounted to $3.8 billion across 172 deals as of Oct. 24, according to LSEG data.

Persons: Goldman Sachs, Morgan Stanley, Banks, Mukesh Ambani, Bhavish, Ola, What’s, Gaurav Trehan, Blackstone, Amit Dixit, David Solomon, James Gorman, Citigroup's Jane Fraser, Noel Quinn, Bill Winters, Una Galani, Thomas Shum Organizations: Reuters, UBS, Insurance, JPMorgan, Citigroup, Reliance Industries, KKR, Bank of America, Global Financial, Investment, Hong Kong Monetary Authority, Offshore, Thomson Locations: BENGALURU, Hong Kong, China, Asia, Mumbai, Greater China, Macau, Taiwan, Beijing, Washington, India, United States, Offshore China

☆ India rupee to rally after data reaffirms Fed done with rate hikes
▼ + stars: | 2023-11-06 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Nov 6 (Reuters) - The Indian rupee is expected to rise at open on Monday after softer-than-expected U.S. jobs data reinforced expectations that the Federal Reserve will not hike interest rates further. Non-deliverable forwards indicate the rupee will open at around 83.08-83.12 to the U.S. dollar compared with 83.2850 in the previous session. Asian currencies extended last week's advance after the dollar index slumped on Friday following data that indicated that the U.S. labor market was cooling. "Last week’s Fed meeting and latest data flow suggest the rate hike cycle is most likely over. "It's to be fully expected that the rupee will underperform in times when the dollar is under stress," the forex trader said.

Persons: Nimesh Vora, Mrigank Organizations: Federal Reserve, U.S, Reuters, Treasury, Fed, DBS Research, Korean, Malaysian, Reserve Bank of, Brent, Thomson Locations: MUMBAI

☆ CAS registers Russian appeal against Olympic membership suspension
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +3 min

International Olympic Committee (IOC) President Thomas Bach gestures as he speaks during a news conference, ahead of the 141st IOC Session, in Mumbai, India, October 13, 2023. REUTERS/Niharika Kulkarni/File Photo Acquire Licensing RightsNov 6 (Reuters) - The Court of Arbitration for Sport (CAS) has registered an appeal filed by the Russian Olympic Committee (ROC) against the decision by the International Olympic Committee (IOC) to suspend its membership, the independent judicial body said on Monday. The challenge arose over the IOC's suspension of the ROC following the ROC decision to include as its members some regional sports organisations which are under the authority of the National Olympic Committee (NOC) of Ukraine. "The CAS arbitration proceedings have commenced. The Russian Olympic Committee was banned with immediate effect on Oct. 12 for recognising regional organisations from four territories annexed from Ukraine, the International Olympic Committee said.

Persons: Thomas Bach, Niharika Kulkarni, Vladamir Putin, Putin, Trevor Stynes, Christian Radnedge Organizations: Olympic Committee, 141st IOC, REUTERS, Sport, Russian Olympic Committee, International Olympic Committee, National Olympic Committee, IOC, Olympic, Sports, Russian Olympic, Sporting Power, Swiss, Thomson Locations: Mumbai, India, ROC, Ukraine, Luhansk, Donetsk, Kherson, Zaporizhzhia, Russia, Perm

A man walks past an advertising hoarding of Byju's, an Education Technology company and one of India's biggest startup, outside one of its branch in New Delhi, India, June 23, 2023. Byju's parent Think & Learn's operating losses fell 6% to 24 billion Indian rupees ($288.67 million) for its core online education business, while revenue more than doubled to 35.5 billion Indian rupees ($426.99 million) for the year ended March 31, 2022. "The takeaways from a uniquely belligerent year, which included nine acquisitions, are life-long learnings," Raveendran said in a statement. Last September, Byju's filed its 2021 numbers after a 17-month delay. ($1 = 83.1400 Indian rupees)Reporting by M. Sriram; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

Persons: Adnan Abidi, Byju Raveendran, Raveendran, Byju's, MBAs, Sriram, Michael Perry Organizations: Education Technology, REUTERS, Rights, Deloitte, Atlantic, Reuters, Thomson Locations: New Delhi, India, Rights MUMBAI, Prosus, Blackrock

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