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☆ India home prices set to stay above inflation: Reuters poll
▼ + stars: | 2023-06-05 | by ( Vivek Mishra | ) www.reuters.com time to read: +2 min

Summary poll dataBENGALURU, June 5 (Reuters) - Home prices in India are set to hold above consumer inflation, even though interest rates are expected to stay higher for longer than previously thought, a Reuters poll of property analysts found. The May 16-June 1 poll of 12 property analysts predicted national home prices would reach a median 6.0% this year, a modest upgrade from the 5.5% expected in a March survey. "The interest rate cycle is near its end," Arvind Nandan, managing director of research at Savills India, said. Rates are set to stay at 6.50% for the rest of 2023 and start falling early next year. All analysts who answered an additional question said they were bullish about the housing market outlook.

Persons: Arvind Nandan, Anuj Puri, Rohan Sharma, Vivek Mishra, Veronica Khongwir, Madhumita Gokhale, Hari Kishan, Ross Finley, Barbara Lewis Organizations: Reserve Bank of, JLL Research, Thomson Locations: BENGALURU, India, Reserve Bank of India

☆ Watch CNBC's full interview with Deutsche Bank's Deepak Puri on the Fed's next move
▼ + stars: | 2023-05-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Deutsche Bank's Deepak Puri on the Fed's next moveDeepak Puri, Deutsche Bank CIO in the Americas, joins 'Squawk on the Street' to discuss what the economic data suggests the Federal Reserve should do, the bottom line for equity markets and much more.

☆ Investors underestimated wealth affect caused by Covid-19 pandemic created, says Deutsche Bank's Puri
▼ + stars: | 2023-05-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors underestimated wealth affect caused by Covid-19 pandemic created, says Deutsche Bank's PuriDeepak Puri, Deutsche Bank CIO in the Americas, joins 'Squawk on the Street' to discuss what the economic data suggests the Federal Reserve should do, the bottom line for equity markets and much more.

☆ Opinion | Talking With Patients About Death
▼ + stars: | 2023-04-23 | by ( ) www.nytimes.com time to read: +1 min

To the Editor:Re “As a Doctor, I Know Being Ready to Die Is an Illusion,” by Dr. Sunita Puri (Opinion guest essay, April 2):Many doctors, including me, have faced Dr. Puri’s dilemma about how to talk to dying patients. My early years as a specialist were besmirched by my failure to inform patients, in a timely fashion, that they were dying. Used to playing the role of a problem solver, I had no skills in consoling an explosion of grief. Indeed, several courts have found doctors at fault for nondisclosure of proximate death. Research has shown that the vast majority of people surveyed would want their doctor to inform them, without prompting, if they were dying.

☆ Indian regulator plans to allow mutual funds with performance-based fees
▼ + stars: | 2023-04-21 | by ( Jayshree P Upadhyay | ) www.reuters.com time to read: +3 min

According to the plan, the base fees currently charged for mutual funds would be reduced and additional charges would be based on performance. If introduced, India would be one of a handful of major markets to introduce performance-linked fees for mutual funds. "An option for additional charges could act as an incentive for funds to give better returns," the source said. There is a need for transparency on charges levied by mutual funds, SEBI chairperson Madhabi Puri Buch said on March 28. To curb this, SEBI will only allow funds to charge additional fees if an investor is buying any mutual fund for the first time, the document showed.

☆ Exclusive: India regulator probing some Adani offshore deals for possible rule violations-sources
▼ + stars: | 2023-04-01 | by ( Jayshree P Upadhyay | ) www.reuters.com time to read: +4 min

An Adani Group spokesperson said Vinod Adani is a member of the Adani family and is part of the promoter group, but he does not hold any managerial position in any of the listed Adani entities or their subsidiaries. Vinod Adani could not be reached for comment. Hindenburg's report eroded more than $100 billion in the value of shares in Adani group of companies. India's Supreme Court asked SEBI in March to investigate the Adani Group for any lapses related to public shareholding, related party rules or regulatory disclosures. SEBI's investigation into Adani's possible 'related party' transactions with offshore entities with links to Vinod Adani has not been reported before.

☆ Analysis: Russian sanctions shift oil price-making power to Asia from Europe
▼ + stars: | 2023-03-14 | by ( Alex Lawler | ) www.reuters.com time to read: +6 min

Western Sanctions have led Russia to sell more than twice as much crude to Asia in the year to January, according to Kpler data. Iran, under U.S. sanctions, has boosted exports to the highest in three years on some estimates, with China the biggest buyer. Hardeep Singh Puri, India's oil minister, said in early February the country will keep buying from Russia if prices "continue to be good". EUROPE LOSES SUPPLY SOURCEIndia was among those to have complained about the Asian premium they paid to the big exporters. "These normal sorts of patterns of Asian premium or discount don't really apply," he said.

Summary Poll dataBENGALURU, March 7 (Reuters) - India's housing market will remain resilient despite rising interest rates and a weak global economic outlook, according to a Reuters poll of property analysts who have barely changed their forecasts from three months ago. Defying a global trend of falling housing prices as mortgage rates rise and crimp affordability, India has exhibited resilience and is emerging from a decade-long downturn due to strong demand. A major source of employment in a country of 1.4 billion people where a majority are unskilled, the Indian housing market is likely to remain a stable contributor to economic activity in Asia's third-largest economy. A recent increase in unemployment also raises concerns about the sustainability of the current housing market trend. "Amid rising prices, affordability will only worsen in the coming quarters.

☆ Adani contrarian is a win for Hindenburg, too
▼ + stars: | 2023-03-03 | by ( Una Galani | ) www.reuters.com time to read: +6 min

GQG Partners is snapping up shares in four of the Indian tycoon’s nine core companies, including the flagship Adani Enterprises (ADEL.NS), along with Adani Green Energy (ADNA.NS), Adani Ports and Special Economic Zone (APSE.NS) and Adani Transmission (ADAI.NS). The mogul was trying to do just that last month with a $2.5 billion Adani Enterprise share sale before it was scuppered by Hindenburg’s sortie. Barring something truly exceptional, the scars of Hindenburg’s successful attack on Adani will linger for a while. GQG bought shares in Adani Ports and Special Economic Zone, Adani Green Energy, Adani Transmission and Adani Enterprises from entities owned by the Adani family. Adani has dismissed the allegations outlined in U.S. fund Hindenburg Research’s Jan. 24 report.

☆ MSCI’s Adani cut signals fat tail risks for India
▼ + stars: | 2023-02-10 | by ( Shritama Bose | ) www.reuters.com time to read: +5 min

Hindenburg founder Nathan Anderson sees MSCI's move as a validation of his group’s findings of “stock parking” by Adani. The Securities and Exchange Board of India, headed by former banker Madhabi Puri Buch, acknowledged unusual price movements this month, but without naming the Adani group. But the longer the controversy drags on, there will be a fat tail risk for Adani and all his stakeholders. CONTEXT NEWSGlobal index provider MSCI on Feb. 9 cut its determined free floats for four Adani companies. It reduced those of Adani Enterprises, Adani Total Gas, Adani Transmission and ACC, and said any resulting changes will be implemented at the close of Feb. 28.

☆ Ghana seeks Indian investment in oil and gas sector
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Companies Aker ASA FollowBENGALURU, India, Feb 8 (Reuters) - Ghana, which is struggling with its worst economic crisis in a generation, is seeking Indian investment in its oil and gas sector, William Owuraku Aidoo, its deputy minister of energy, said on Wednesday. "There are some opportunities in Ghana specially in the oil and gas front. We have some oil blocks available and we came here hoping to attract Indian investments," Aidoo told Reuters after a meeting with Indian oil minister Hardeep Singh Puri at India Energy Week. He said Ghana will award exploration licences through direct negotiations if Indian companies are interested. Apart from offering exploration opportunities, Ghana is also seeking Indian support to build refineries of about 300,000 barrels per day.

☆ India will buy oil from 'wherever we have to' if terms are beneficial, energy minister says
▼ + stars: | 2023-02-07 | by ( Sumathi Bala | ) www.cnbc.com time to read: 1 min

India will secure oil from anywhere as long as the terms are beneficial, India's energy minister told CNBC. India is the third largest oil consumer in the world, and according to Hardeep Singh Puri, accounts for 30% of global consumption. "Today we feel confident that we'll be able to use our market to source from wherever we have to, from wherever we get beneficial terms," the minister told CNBC's Tanvir Gill on "Squawk Box Europe," as part of India's energy week. "By beneficial terms in this situation is: you have to be sure of your supplies," he explained. India has been buying Russian oil at a steep discount since global powers imposed sanctions on the Kremlin in a bid to cut down its ability to raise funds for its war against Ukraine.

☆ India oil minister says country will source crude from wherever it has to and on beneficial terms
▼ + stars: | 2023-02-06 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia oil minister says country will source crude from wherever it has to and on beneficial termsIndia Petroleum Minister Shri Hardeep Singh Puri discusses global oil demand, the country's relationship with OPEC and the outlook for oil prices.

Morgan Stanley economists forecast its stock market will be the world’s third largest before the end of 2030. For those who passively track stock market indexes, the controversy engulfing Adani, briefly the world’s third richest man, may act as a deterrent from an already expensive market. The newish chair of India’s securities regulator, Madhabi Puri Buch, has already wielded a stick at credit rating agencies to instil better market discipline. In the meantime, the turmoil is a reminder to investors of the danger of investing blindly in emerging markets. Stocks look increasingly expensive compared to emerging marketsReuters GraphicsFollow @ugalani and @ShritamaBose on TwitterloadingloadingCONTEXT NEWSShares of the Adani group companies have lost $65 billion since Jan. 25 after U.S. short-seller Hindenburg Research published a research note on the group.

☆ Guyana expects proposal from India for long-term crude purchases
▼ + stars: | 2023-01-17 | by ( Neil Marks | ) www.reuters.com time to read: +1 min

[1/2] Vessels carrying supplies for an offshore oil platform operated by Exxon Mobil are seen at the Guyana Shore Base Inc wharf on the Demerara River, south of Georgetown, Guyana January 23, 2020. REUTERS/Luc CohenGEORGETOWN, Jan 17 (Reuters) - Guyana expects to soon receive a proposal from India for long-term purchases of the South American country's oil, President Irfaan Ali said on Tuesday, a new attempt to reach a government-to-government deal potentially leading to better sale terms for Guyana. Guyana's government is entitled to a share of crude produced off the nation's coast by a consortium led by Exxon Mobil Corp (XOM.N). In 2022, Ali's government received a total of 13 cargoes of crude, and it expects to receive and export 17 cargoes this year, the finance minister said earlier this week. Guyana and India in 2021 failed to reach an agreement for direct sales of Guyana's sweet crude to Indian state refiners.

China, the world's top oil importer, has continued buying Russian oil despite Western sanctions, after Russian President Vladimir Putin and Chinese leader Xi Jinping launched what they called a no-limit partnership before the war in Ukraine. The sources said a fifth supertanker, or very large crude carrier (VLCC), was shipping crude to India, which like China has continued buying Russian oil sold at a discount as many Western buyers turn to other suppliers. All five shipments were scheduled between Dec. 22 and Jan. 23, according to the sources and Eikon ship tracking data. The G7 price cap introduced in December allows countries outside the European Union to import seaborne Russian oil but it prohibits shipping, insurance and re-insurance companies from handling Russian crude cargoes unless sold for below the $60 cap. Industry sources say Indian refiners are securing a discount of $15-$20 per barrel on Russian oil on a delivered basis compared to Brent.

☆ Chevron, Exxon and Total keen to invest in India, says minister
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, Jan 13 (Reuters) - Global energy majors Chevron Corp (CVX.N), Exxon Mobil Corp (XOM.N) and TotalEnergies (TTEF.PA) are interested in investing in India's oil and gas exploration and production sector, the country's oil minister said in a speech on Friday. India, the world's third biggest oil importer and consumer, buys more than 84% of its oil needs from overseas and wants to quickly monetise its hydrocarbon reserves to reduce its dependence on costly imports. "India is ready to explore opportunities for joint development production of oil and gas assets for mutual benefit and also invites investment in our domestic E&P (exploration and production) sector," Hardeep Singh Puri said. The minister added that India aims to double the area under oil and gas exploration to 500,000 sq km by 2025. Reporting by Nidhi Verma Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Take a look inside a greenhouse on the rooftop of a Whole Foods in Brooklyn — reducing emissions and food waste
▼ + stars: | 2022-12-31 | by ( Britney Nguyen | ) www.businessinsider.com time to read: 1 min

At a dinner with his eventual cofounder of Gotham Greens, Eric Haley, and Jenn Frymark, now the chief greenhouse officer, Puri said they learned the basil on their pasta had been flown in from Israel. Gotham Greens CEO Viraj Puri. Gotham Greens and Julie McMahon"At that moment, we knew that there was a clear need and purpose for our proposed business model of building farms closer to population centers," Puri said. After doing more research, they learned that most leafy greens grown in the US come from California and Arizona. "After traveling thousands of miles east, it's at least a week old and leaves a significant mark on the environment through carbon emissions and food waste along the supply chain," Puri said.

☆ India cenbank hikes key policy rate by 35 basis points
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +7 min

However, the pace of rate hikes is reducing from 50 bps to 35 bps, in line with expected global hikes." The market needs to keep a close watch on global rate hikes and sticky core inflation." "We expect RBI to go for another 25 bps hike in its next policy, with the terminal rate at 6.5%. ANUJ PURI, CHAIRMAN, ANAROCK GROUP, MUMBAI"The 35 bps rate hike by the RBI - the fifth consecutive rate hike this year - comes as no surprise. We see a possibility of another 25 bps rate hike before a prolonged pause."

The findings highlight how the housing market, one of the biggest employers in a country of around 1.4 billion people, is likely to remain a stable contributor to growth in Asia's third-largest economy going forward. Relatively modest interest rate risk partly explains why all but one of 10 analysts who answered an additional question said the chances of a significant slowdown in the housing market over the coming year were low. Nine of 11 respondents said either an economic slowdown or rising rates would be the biggest challenge for first-time homebuyers. "While India ... has been quite resilient amidst global disturbances, the chances of a slowdown in India cannot be ruled out," said Anuj Puri, chairman of ANAROCK Property Consultants. (For other stories from the Reuters quarterly housing market polls:)Reporting by Milounee Purohit and Indradip Ghosh in Bengaluru Polling by Maneesh Kumar Editing by Hari Kishan, Ross Finley and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

How Putin and Friends Stalled Climate Progress A handful of powerful world leaders rallied around Russia and undercut global cooperation. Mr. Putin has gained from this as the increasingly autocratic Mr. Xi finds common cause with the Kremlin. “Much depends on whether authoritarian leaders perceive climate action to be in their self-interest.”Though their actions help Mr. Putin, their track records on climate are mixed. Mr. Xi called Mr. Putin his “best friend.”He was returning the favor from a year earlier, when Mr. Putin hosted Mr. Xi at the Grand Kremlin Palace and awarded him one of Russia’s highest medals for foreign dignitaries. At a news conference with Mr. Putin, Mr. Bolsonaro thanked his “dear friend,” saying that Mr. Putin had offered him support when other world leaders were criticizing his Amazon policy.

☆ INDIA STOCKS Indian shares set for lower opening as Fed keeps hawkish stance
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +3 min

India's NSE stock futures, listed on the Singapore exchange , were 0.94% lower as of 0211 GMT. The Federal Reserve raised interest rates by 75 basis points on Wednesday as widely expected and said its battle against inflation will require borrowing costs to rise further. Meanwhile, foreign institutional investors bought a net 14.36 billion Indian rupees ($173.61 million) worth of equities on Wednesday, while domestic investors sold 13.78 billion rupees of shares, as per provisional data available with the National Stock Exchange. ** Mahindra and Mahindra Financial Services Ltd (MMFS.NS) reported September-quarter profit of 4.48 billion rupees, a 56.2% year-on-year decline. ($1 = 82.7120 Indian rupees)Reporting by Rama Venkat in Bengaluru;Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

The Group of Seven richest economies (G7) has been trying to enforce a price-capping mechanism on Russian oil exports by Dec. 5, when European Union sanctions banning seaborne imports of Russian crude come into force. Moscow has said it would not supply oil to any country that agrees to the price cap. The price cap plan calls for G7 countries to deny insurance, finance, brokering, navigation and other services to oil cargoes priced above a yet-to-be-determined price cap on crude and oil products. "We get Russian oil on a delivered basis, let the contours of the price cap mechanism be finalised. Another source said a halt of Russian oil purchases by India will create a 'huge energy imbalance', which will not be affordable to some economies.

☆ India to pitch for global biofuels alliance at G20 - oil minister
▼ + stars: | 2022-10-19 | by ( Mohi Narayan | ) www.reuters.com time to read: +2 min

REUTERS/Gary McWilliamsNEW DELHI, Oct 19 (Reuters) - India plans to pitch for a global alliance on biofuels among members of the group of 20 major economies, oil minister Hardeep Singh Puri said on Wednesday, as the world's third biggest oil consumer bids to boost use of cleaner fuels. India will take over the presidency of the group, also called G20, from Indonesia in December. "We will utilise our G20 presidency to try and set up an international biofuels alliance," Puri said at the International Conference on Biofuels. I think we are on our way to setting up an international alliance," he said. India, also the world's third-biggest oil importer, ships in about 85% of its crude needs, but is gradually building capacity to increase its output of biofuels.

☆ India to examine price cap proposal for Russian crude
▼ + stars: | 2022-10-19 | by ( ) www.reuters.com time to read: 1 min

NEW DELHI, Oct 19 (Reuters) - India will examine the price cap on Russian oil proposed by the West, oil minister Hardeep Singh Puri said on Wednesday. "We will have a look at it," Puri said at an industry event in New Delhi. Register now for FREE unlimited access to Reuters.com RegisterReporting by Nidhi Verma and Mohi Narayan; Writing by Tanvi Mehta; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

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