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Foreign investors persist in selling Indian stocks, marking a record of 23 consecutive sessions of selling. This trend is driven by rising oil prices and their impact on financial markets.
Reliance Industries of India has announced its acquisition of Venezuelan oil directly from the state-owned company PDVSA, marking a significant shift in trade relations between India and Venezuela. This move comes at a time when Venezuela is facing severe economic sanctions.
Emirates NBD has received approval from the Reserve Bank of India (RBI) to proceed with a $3 billion acquisition of RBL Bank. This move aligns with the bank's strategy to enhance its presence in the Indian market.
Fuel companies in India have raised the prices of aviation fuel and commercial LPG due to a sharp rise in global prices stemming from the ongoing conflict in the Middle East. The Indian government is taking measures to protect households from gas shortages.
India has announced strict measures to limit speculation against its national currency, the rupee, marking one of the most robust actions in over a decade. These measures come as the costs of defending the currency rise amidst growing concerns over its value in global markets.
Foreign investments in India have seen a record withdrawal of <strong>$12 billion</strong> in March, driven by the ongoing war in Iran, which has raised energy costs and increased economic growth uncertainties. This withdrawal comes at a critical time for the Indian economy, which is under increasing pressure.
The Reserve Bank of India announced that the country's foreign reserves and strong economic fundamentals will help it withstand external shocks and increasing volatility in global markets. This statement comes amid significant fluctuations in the global economy.