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☆ It's likely the Fed will cut less than people expect, says HPS Investment's Purnima PUri
▼ + stars: | 2024-10-07 | 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 EmailIt's likely the Fed will cut less than people expect, says HPS Investment's Purnima PUriPurnima Puri, HPS Investment Partners governing partner and portfolio manager of public credit strategies, joins 'Squawk Box' to discuss the state of the economy, the impact on the Fed's interest rate decision, rate path outlook, and more.

Organizations: HPS Investment Partners Locations: PUri

☆ Deutsche Bank's Deepak Puri expects a modest 'relief rally' following the election
▼ + stars: | 2024-10-02 | 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 EmailDeutsche Bank's Deepak Puri expects a modest 'relief rally' following the electionDeepak Puri, Deutsche Bank Private Bank CIO of the Americas, joins CNBC's 'Money Movers' to discuss market expectations, what risks the economy may face in the upcoming months, and more.

Persons: Deepak Puri Organizations: Deutsche Bank Private Bank

☆ India could see a fresh wave of foreign fund inflows - Kotak Mahindra
▼ + stars: | 2024-09-26 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia could see a fresh wave of foreign fund inflows - Kotak MahindraRuchit Puri of Kotak Mahindra explains why the Indian market could see a resurgence of inflows from Foreign Institutional Investors (FIIs).

Persons: Kotak Organizations: Mahindra Ruchit Puri, Kotak Mahindra, Institutional

☆ Gautam Adani hit by fresh Hindenburg allegations against India’s market regulator
▼ + stars: | 2024-08-12 | by ( ) edition.cnn.com time to read: +3 min

Adani Group companies shed as much as $19 billion in market value on Monday after Hindenburg Research accused the Indian market regulator probing the group of having links to offshore funds also used by Adani. Adani Enterprises and Adani Ports were among the biggest losers on India’s blue-chip Nifty 50 index. Total losses in Adani companies narrowed to $9 billion after the early plunge. It caused one of the most stunning upheavals in India’s corporate history in January 2023 when it alleged improper use of tax havens and stock manipulation by the Adani Group. “We do not think SEBI can be trusted as an objective arbiter in the Adani matter,” Hindenburg said on Saturday.

Persons: Adani, Gautam, Hindenburg, Madhabi Puri, Vinod Adani, Gautam Adani, ”, Sunny Agrawal, Buch, ” Hindenburg, SEBI, “, Kranthi Bathini, Rahul Gandhi, ” Ajay Seth Organizations: Adani, Hindenburg Research, Adani Enterprises, Securities and Exchange Board of India, SBICAPS Securities, Equity, WealthMills Securities Locations: New York, Madhabi Puri Buch

☆ Adani Group shares shed billions after Hindenburg allegations against regulator
▼ + stars: | 2024-08-12 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

Adani group is one of the India's largest multinational company with a diversified business portfolio. Shares of Adani Group fell on Monday, after a new report from U.S. short seller Hindenburg accused the chair of India's capital markets regulator of having conflicts of interest that prevented an in-depth probe of fraud allegations. Shares of Adani Total Gas, Adani Power, Adani Wilmar and Adani Energy Solutions also fell sharply on the news. Madhabi Puri Buch and Dhaval Buch both denied wrongdoing and said the report's claims were baseless. Hindenburg's latest report comes roughly 18 months after it first accused the Adani Group of stock manipulation and corporate fraud.

Persons: Hindenburg, Adani, Madhabi Puri, Dhaval Buch, Puri, Gautam Adani, CNBC's Ganesh Rao Organizations: Adani, Adani Enterprises, Adani Energy Solutions, Securities and Exchange Board of India, Sunday Locations: Mumbai, Madhabi Puri Buch, Puri Buch

☆ Hindenburg alleges India market regulator chief had stake in offshore funds used by Adani Group
▼ + stars: | 2024-08-11 | by ( ) www.cnbc.com time to read: +3 min

In May, six Adani Group companies disclosed they had received notices from SEBI alleging violation of Indian stock market rules. Alongside the inquiry into the Adani group, SEBI sent a "show cause" notice to Hindenburg Research alleging that the short-seller violated the country's rules by setting up a short-bet using non-public information. Hindenburg Research said these allegations were "nonsense" in a note published on its website in July, which also made public the regulator's notice. In its latest report, Hindenburg attempts to draw a link between offshore funds that traded in Adani Group shares and personal investments of Buch and her husband. It says that Bermuda-based Global Opportunities Fund, which according to a Financial Times investigation was used by entities connected to the Adani group to trade in share of group companies, had sub-funds.

Persons: Puri, Hindenburg, Buch, Vinod Adani, Gautam Adani, SEBI Organizations: Hindenburg Research, Hindenburg, SEBI, Sunday, Securities and Exchange Board of India, Adani, Adani Group, Fund, Financial Times, Buch, Securities, Exchange Board of India Locations: Krakow, Poland, Puri Buch, Buch, Bermuda

☆ A fashion influencer is suing another creator, alleging she copied her 'aesthetic.' Lawyers say the case could have big ramifications.
▼ + stars: | 2024-07-20 | by ( Shriya Bhattacharya | ) www.businessinsider.com time to read: +6 min

The two Texas-based creators met up to talk about potentially producing content together given their similar fashion niches, according to a lawsuit filed by Gifford. Lawyers told BI that if Gifford wins any or all of the counts, the case could set a new precedent for the creator economy. It could drastically change how influencers create content online and protect their rights. She said this case could spark a fire in the creator community regardless of whether Gifford wins or loses. "The audience online is really smart though, and they'll figure it who the original creator is eventually," Puri said.

Persons: —, Sydney Nicole Gifford, Alyssa Sheil, she'd, Gifford, Sheil, She's, Kameron Buckner, there's, Buckner, I've, that's, Taylor Tieman, — Gifford —, Tieman, Tiffany Ferris, Haynes Boone, Ferris, Roe, Wade, Brown, I'm, Asmita, Puri Organizations: Service, Business, Meta, Copyright, Business Insider, of Education, Federal Trade Commission Locations: Texas, TikTok, Asmita Puri

☆ How the world’s tech crashed all at once
▼ + stars: | 2024-07-19 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +4 min

CNN —When computers and tech systems around the world went down Friday, snarling airports, closing Social Security offices and limiting jail operations, many people had one question: How on Earth could this happen in 2024? CrowdStrike is everywhereNumerous Fortune 500 companies use CrowdStrike’s cybersecurity software to detect and block hacking threats. Computers running Microsoft Windows — one of the most popular software programs in the world — crashed because of the faulty way a code update issued by CrowdStrike is interacting with Windows. Anne Neuberger, a senior White House tech and cybersecurity official, spoke of the “risks of consolidation” in the tech supply chain when asked about the IT outage on Friday. The infamous hack of the US government using SolarWinds software in 2020, which US officials blamed on Russia, came through a tampered software update.

Persons: Costin, CrowdStrike, Munish Walther, Puri, “, ” Walther, Anne Neuberger, ” Neuberger, ” Tobias Feakin Organizations: CNN, CrowdStrike, Windows, White House, Aspen Security Locations: New York, Russia, Russian

☆ The Fed will now focus on unemployment and labor markets, says Charles Schwab's Omar Aguilar
▼ + stars: | 2024-07-15 | 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 EmailThe Fed will now focus on unemployment and labor markets, says Charles Schwab's Omar AguilarOmar Aguilar, Schwab Asset Management CEO, and Deepak Puri, Deutsche Bank Wealth Management Americas CIO, join 'Closing Bell: Overtime' to discuss the election's impact on the markets.

Persons: Charles Schwab's Omar Aguilar Omar Aguilar, Deepak Puri Organizations: Schwab Asset Management, Bank Wealth Management

☆ Dow closes above 40,000 points for first time in history
▼ + stars: | 2024-05-17 | 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 EmailDow closes above 40,000 points for first time in historyDeepak Puri, Deutsche Bank CIO of Americas, and Scott Chronert, Citi Research head of U.S. equity strategy, join 'Closing Bell Overtime' to talk the Dow's record day.

Persons: Dow, Deepak Puri, Scott Chronert Organizations: Deutsche Bank CIO, Americas, Citi Research

☆ How $65 billion Marshall Wace is turning into the hedge funds it's criticized
▼ + stars: | 2024-05-09 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +5 min

There's a split internally at $65 billion Marshall Wace. The 27-year-old London-based hedge fund, founded by Paul Marshall and Ian Wace, has prided itself on its collaborative culture. Multi-strategy mightThe culture shift at Marshall Wace is just the latest ripple effect to come from the vast expansion of power, assets, and clout of the largest multi-strategy hedge funds. For Marshall Wace, that looks like a charge that can be up to 0.75% of the $22.4 billion Eureka fund's value — more than $150 million — on top of the set management fees and variable performance fees the firm already charges. A person close to the firm said that certain people still have access to aggregated positions, but the restriction helps Marshall Wace manage "complexity and confidentiality" as the manager continues to grow.

Persons: Marshall Wace, Paul Marshall, Ian Wace, Marshall, George Soros, It's, Marshall Wace's, You've, Dan Schatz, Ruchit, Jaime Brandwood, Derek Rosenthal, Marshall's Organizations: Business, BNP, Eureka, Citadel, Ruchit Puri Locations: London, Citadel, New York, Singapore, Shanghai, Hong Kong, Eureka

☆ The Kremlin has never been richer – thanks to a US strategic partner
▼ + stars: | 2024-02-19 | by ( Nick Paton Walsh | Florence Davey-Attlee | ) edition.cnn.com time to read: +9 min

It amounts to US strategic partner New Delhi stepping in to replace crude purchases by Western buyers, reduced by sanctions over Russia’s invasion of Ukraine, the analysis said. The United States led a coalition of countries in late 2022 that agreed to a “price cap,” undertaking not to buy Russian crude above $60 a barrel. Those nations also forbade their shipping companies and insurance firms – key players in global shipping – from facilitating the trade of Russian crude above that price. “The price cap was the real trigger for the creation of the shadow fleet,” said Viktor Katona, head of crude oil analysis at trade research firm Kpler. It will be $150.”India’s complex role in global oil trade is also reflected in the fate of the oil products Russian crude is turned into.

Persons: they’re, ”, David Tannenbaum, Viktor Katona, Tannenbaum, ” Ami Daniel, Vladimir Putin, Howard Shatz, Singh Puri, Rosneft, Daniel, I’m Organizations: CNN, Centre for Research, Energy, Clean, Star, Pole Star, US Treasury, United, Pole Star Global, European Union, RAND, India’s, Petroleum, Natural Gas, CNBC, Nayara, Kremlin Locations: Russia, Ukraine, India, United States, Delhi, Moscow, Laconian Gulf, Greece, Suez, Russian, Kyiv, Vadinar

☆ 'World is grateful': India keeps oil prices cheaper by buying from Russia, Indian oil minister says
▼ + stars: | 2024-02-08 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

Hardeep Singh Puri, India's minister of Petroleum and Natural Gas, at the ADIPEC conference in Abu Dhabi, United Arab Emirates, on Tuesday, Oct. 3, 2023. Bloomberg | Bloomberg | Getty ImagesIndia keeps global crude prices affordable by buying oil from Russia, India's energy minister said. "The world is grateful to India for buying Russian oil. Such uncertainty would typically push energy prices higher but gains have been limited amid record output from the U.S., and an ongoing global economic slowdown. "The fact of the matter is half the work is in recession," he said, adding that higher oil prices will invariably end up becoming a "self fulfilling prophecy" where higher prices will curtail demand.

Persons: Hardeep Singh Puri, Singh Puri, CNBC's Sri, India's Organizations: Petroleum, Natural, United, Bloomberg, Getty, Natural Gas, India Energy Locations: Abu Dhabi, United Arab Emirates, Russia, India, CNBC's Sri Jegarajah, Goa, Ukraine, Moscow, U.S

☆ India's minister of petroleum claims the world is 'grateful' to India for buying Russian oil
▼ + stars: | 2024-02-07 | 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's minister of petroleum claims the world is 'grateful' to India for buying Russian oilHardeep Singh Puri, India's minister of petroleum and natural gas, addresses the perception among international circles that India is funding Russian President Vladimir Putin's war machine by doing so.

Persons: Singh Puri, Vladimir Putin's Locations: India

☆ India's moment has arrived — but many hurdles remain
▼ + stars: | 2024-02-04 | by ( Spriha Srivastava | Polly Thompson | ) www.businessinsider.com time to read: +8 min

India's economy is expected to expand by 6.5% this year, according to IMF forecasts. The world's most populous nation was keen to talk up its prospects at the World Economic Forum in Davos. Advertisement"India has seized the moment," proclaimed housing minister Hardeep Singh Puri with confidence during a panel at the World Economic Forum in Davos last month. The 10-strong group of emerging market nations now accounts for 45% of the world's population and 28% of global GDP. AdvertisementSome economists have criticized the government's narrative as a "false growth story," highlighting discrepancies in the data and criticizing the methods used to calculate economic growth.

Persons: —, Hardeep Singh, Smriti Irani, BI's Spriha Srivastava, that's, Narendra Modi's, Cash, Modi, SAJJAD HUSSAIN, I've, Andy Baldwin, EY, Narendra Modi, Brazil's Luiz Inácio Lula da Silva, Dan Kitwood, Getty, ISRO Goldman Sachs, Ashoka Mody, Rajesh Kumar Singh, Vladimir Putin, Singh Organizations: Economic, Service, BI, IMF, Business, Apple, ISRO, Princeton University, World Bank, US, of, Hindustan Times, Harvard Business Locations: Davos, India, China, Japan, Brazil, China India, India's, Ukraine

☆ The Red Sea attacks appear to be hurting traders and suppliers across the globe — but Russia's oil trade with India is still booming
▼ + stars: | 2024-01-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Russian oil cargoes are still sailing via the Red Sea to get to India, according to S&P Global. Iran-backed Houthi rebels have been attacking commercial ships in the Red Sea since November. Many commercial shipping lines and vessels have rerouted from the Red Sea to avoid getting caught in the attacks. It's not immediately clear why ships carrying Russian oil to India haven't rerouted to avoid potential attacks in the Red Sea. Hardeep Singh Puri, India's petroleum and natural gas minister, said recently that the country is monitoring the situation in the Red Sea.

Persons: —, Lloyd, Sumit Ritolia, It's, Alexander Novak, Hardeep Singh Puri Organizations: P Global, Service, Maersk, Hapag, P, Reuters Locations: India, Iran, Red, Asia, Europe, Cape, South Africa, Moscow, Ukraine, Russia

☆ India markets regulator to oversee online platforms offering fraction real estate assets
▼ + stars: | 2023-11-25 | by ( Jayshree P Upadhyay | ) www.reuters.com time to read: +2 min

A man walks past the Securities and Exchange Board of India (SEBI) headquarters in Mumbai, India, April 19, 2023. REUTERS/Francis Mascarenhas Acquire Licensing RightsMUMBAI, Nov 25 (Reuters) - The board of India's markets regulator on Saturday said it will regulate online platforms offering fractional ownership of real estate assets, and such platforms will be registered under a framework for small and medium real estate investment trusts. In a statement after its quarterly board meeting, the Securities and Exchange Board of India (SEBI) also said that fresh investments by alternative investment funds would be stored electronically from Sept. 2024. But Buch said the rise in equity derivatives trading did not pose any systemic concerns. Concerns regarding SEBI's plan to allow same-day settlement of equity market trades to help retail investors were "exaggerated”, Buch said.

Persons: Francis Mascarenhas, Madhabi Puri Buch, Buch, SEBI, Jayshree, Krishn Kaushik, Alexandra Hudson, Christina Fincher Organizations: Securities and Exchange Board of India, REUTERS, Rights, National Stock Exchange, Thomson Locations: Mumbai, India, Rights MUMBAI

As Open AI employees celebrated the return of CEO Sam Altman with a five-alarm office party , OpenAI software engineer Steven Heidel was busy publicly rebuffing overtures from Salesforce CEO Marc Benioff. Heidel was one of more than 700 OpenAI employees who's threatened exodus halted a would-be mutiny at one of Silicon Valley's most important AI companies. He was previously a scientist at Facebook AI Research and worked as a member of Google Brain under supervision of Prof. Geoffrey Hinton and Ilya Sutskever. Alec Radford: Radford was hired in 2016 from a small AI company he founded in his dorm room. Tao Xu : technical staff, worked on GPT4 and WhisperChristine McLeavey : technical staff, with contributions to music-related productsChristina Kim : technical staffChristopher Hesse : technical staffHeewoo Jun : technical staff, researchAlex Nichol : technical staff, researchWilliam Fedus: technical staff, researchIlge Akkaya: technical staff, researchVineet Kosaraju : technical staff, researchHenrique Ponde de Oliveira Pinto : technical staffAditya Ramesh : technical staff, developed DALL-E and DALL-E 2Prafulla Dhariwal : research scientistHunter Lightman : technical staffHarrison Edwards : research scientistYura Burda : machine language researcherTyna Eloundou : technical staff, researchPamela Mishkin : researcherCasey Chu : researcherDavid Dohan : technical staff, researchAidan Clark : researcherRaul Puri : research scientistLeo Gao : technical staff, researchYang Song : technical staff, researchGiambattista ParascandoloTodor Markov : Machine learning researcherNick Ryder : technical staff

Persons: Sam Altman, Steven Heidel, Marc Benioff, Heidel, Altman, Mira Murati, Murati, Brad Lightcap, Lightcap, Jason Kwon, Kwon, Wojciech Zaremba, Geoffrey Hinton, Ilya Sutskever, Alec Radford, Radford, OpenAI, Peter Welinder, He's, Github Copilot, Anna Makanju, Andrej Karpathy, OpenAI's, Michael Petrov, Petrov, Greg [ Brockman, Miles Brundage, Brundage, John Schulman OpenAI, Srinivas Narayanan, Scott Grey, Grey, Bob McGrew, Research Che Chang, Lillian Weng, Safety Systems Mark Chen, Frontiers Research Barret Zoph, Peter Deng, Jan Leike Evan Morikawa Steven Heidel Jong Wook Kim, Tao Xu, Christine McLeavey, Christina Kim, Christopher Hesse, Heewoo, Alex Nichol, William Fedus, Henrique Ponde de Oliveira Pinto, Aditya Ramesh, Hunter Lightman, Harrison Edwards, Yura, Tyna, Pamela Mishkin, Casey Chu, David Dohan, Aidan Clark, Raul Puri, Leo Gao, Yang, Giambattista Parascandolo Todor Markov, Nick Ryder Organizations: Business, BI, OpenAI, Khosla Ventures, Facebook, Research, Google, Tesla, U.S . Department of Energy, Oxford University, Safety Systems, Frontiers Research Locations: Albania, Canada, OpenAI

☆ Emmett Shear, OpenAI's new interim CEO, shares Sam Altman's worry that AI could destroy all life
▼ + stars: | 2023-11-20 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

Emmett Shear is the new interim CEO of OpenAI after Sam Altman's surprise ouster. AdvertisementEmmett Shear, the man slated to be the new interim CEO of OpenAI, believes artificial intelligence has a very real potential to destroy all life. "That loop will get tighter and tighter and tighter, and faster and faster and faster, until it can fully self-improve itself. There's a 5 to 50% probability that this could actually play out, Shear told Bartlett, though he said there was still "uncertainty" around such estimates. In another interview in September, Shear told podcast host and entrepreneur Shaan Puri that it was his optimism toward AI that made him fear its capabilities.

Persons: Emmett Shear, Sam Altman's, Altman, —, Shear, Logan Bartlett, Bartlett, Shaan Puri, Sam Altman, Shear's, Dall, it's, OpenAI Organizations: Service, Business Insider Locations: There's

☆ Indian energy minister warns of ‘organized chaos’ if oil tops $100 per barrel
▼ + stars: | 2023-10-04 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +1 min

Oil prices surged to their highest level in more than a year on Thursday. The U.S. West Texas Intermediate futures reached $95.03 per barrel, marking the highest cost since August 2022. India's minister of petroleum and natural gas warned that there'll be "organized chaos" if oil prices break above $100 per barrel, but said the South Asian nation is well positioned to weather higher costs. "If the price goes above $100, it's not going to be in the interest of either the producing country or anyone's interest. Last week, oil prices surged to their highest levels in more than a year with U.S. West Texas Intermediate futures hitting $95.03 per barrel.

Persons: it's, Hardeep Singh Puri, CNBC's Dan Murphy, We'll, Puri Organizations: U.S . West Texas, United, United Arab Emirates Locations: U.S, Abu Dhabi, United Arab, India, India's, Asia

☆ Oil prices near $100 per barrel raise questions over demand destruction
▼ + stars: | 2023-09-29 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +7 min

boonchai wedmakawand | Moment | Getty ImagesSupply cuts from heavyweight crude producers have helped drive oil prices near $100 per barrel — fueling some to consider the potential for future demand destruction. Seven European refiners and traders, who spoke under anonymity because of contractual obligations, told CNBC that local buyers can withstand oil prices veering into triple digits without lowering their output runs. Some European market participants polled by CNBC doubted triple-digit oil prices are sustainable in the long term, with three pointing to possible demand destruction — where customers gradually answer persistently high prices with fewer purchases. "Sometimes high oil prices can become a self-fulfilling prophecy," Indian Energy Minister Hardeep Singh Puri warned in August. The oil price hike has benefitted Moscow despite sanctions.

Persons: boonchai, Sushant Gupta, Wood Mackenzie, Topping, Ukraine —, refiner, Hardeep Singh Puri, Giovanni Staunovo Organizations: Brent, ING, Organization of, Petroleum, CNBC, U.S . Energy, Administration, Indian Energy, UBS Locations: London, Asia, Wood, OPEC, Saudi Arabia, Russia, China, Europe, Ukraine, U.S, Moscow, Washington, Israel, East, Riyadh, Iran, Beijing

☆ Fed likely to pause and stay paused for a while, says HPS Investment Partners' Puri
▼ + stars: | 2023-09-19 | 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 EmailFed likely to pause and stay paused for a while, says HPS Investment Partners' PuriPurnima Puri, head of liquid credit at HPS Investment Partners, joins 'Squawk on the Street' to discuss her expectations from the Federal Reserve's signaling tomorrow, and more.

Persons: Purnima Organizations: HPS, Partners, HPS Investment Partners

☆ India makes clean energy push at G20 with global biofuel alliance
▼ + stars: | 2023-09-09 | by ( Nidhi Verma | ) www.reuters.com time to read: +2 min

A general view of the venue for the G20 summit in New Delhi, India, September 9, 2023. REUTERS/Amit Dave/File Photo Acquire Licensing RightsNEW DELHI, Sept 9 (Reuters) - India announced on Saturday the launch of a global biofuel alliance at a G20 summit in New Delhi to boost the use of cleaner fuels. "We are launching the Global Biofuel Alliance. The push for a biofuels alliance mirrors the International Solar Alliance launched by New Delhi and Paris in 2015 to bring clean and affordable solar energy within the reach of all. The alliance will help by encouraging global biofuels trade, developing concrete policies on lesson-sharing and promoting provision of technical support for national biofuels programmes worldwide, Oil Minister Hardeep Singh Puri said in July.

Persons: Amit Dave, Narendra Modi, Hardeep Singh Puri, Nidhi Verma, Shivam Patel, Jacqueline Wong, Kim Coghill Organizations: REUTERS, Global, Alliance, India, Solar Alliance, New, International Energy Agency, Oil, Thomson Locations: New Delhi, India, DELHI, United States, Brazil, Paris

☆ Adani fault lines raise bar for India’s regulator
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +2 min

Indian billionaire Gautam Adani speaks during an inauguration ceremony after the Adani Group completed the purchase of Haifa Port earlier in January 2023, in Haifa port, Israel January 31, 2023. It was a hunt an Indian panel probing allegations of stock manipulation warned might be "a journey without a destination". Adani on Thursday rejected OCCRP’s claims, saying they are based on decade-old closed cases. Shares of Adani Total Gas (ADAG.NS), a joint venture with France’s Total, and Adani Power (ADAN.NS) and Adani Enterprises (ADEL.NS) fell 2.5%, 3.5% and 3% respectively. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Gautam Adani, Amir Cohen, Gautam, Hindenburg, Madhabi Puri, she’s, Nasser Ali Shaban Ahli, Taiwan’s Chang Chung, Ling, Vinod Adani, Gautam Adani’s, Adani, OCCRP’s, Mukesh Ambani’s, Didi, Antony Currie, Thomas Shum Organizations: Adani Group, Haifa Port, REUTERS, Rights, Reuters, India’s Securities, Exchange Board of India, United Arab Emirates, France’s, Adani Enterprises, X, Thomson Locations: Haifa, Israel, Madhabi Puri Buch, Una

☆ India will buy oil from anyone who offers the 'lowest possible prices' - minister
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Gary McWilliams/File Photo Acquire Licensing RightsNEW DELHI, Aug 30 (Reuters) - India will buy oil from all sources that offer it at the "lowest possible prices", the country's oil minister told broadcaster ET Now on Wednesday. "We are very clear in our minds that we will buy oil from wherever we can get it as long as it is delivered to our point of importation at our ports at the lowest possible price," Oil Minister Hardeep Singh Puri said. India, the world's third-biggest oil importer and consumer, gets more than 80% of its oil from overseas. Asked about rupee trade with the United Arab Emirates (UAE), the minister said that the transactions in the oil sector were "very minimum". "We have a rupee-dirham arrangement with the UAE but the transactions in the oil sector are very minimum," he said.

Persons: Singh Puri, Gary McWilliams, Hardeep Singh Puri, Sakshi Dayal, Kim Coghill Organizations: Petroleum, Natural Gas, REUTERS, DELHI, Oil, United Arab Emirates, Thomson Locations: Houston , Texas, U.S, India, Russia, Ukraine, UAE

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