India

Reliance Industries, the operator of the largest refinery in the world, said on Thursday that it would 'consider' buying Venezuelan oil, if allowed to sell to non-US customers. In response to an email seeking comments, a spokesperson for Reliance Industries said: "We are waiting for clarity on the access of Venezuelan oil by non US buyers and we will consider buying the oil in compliance." email seeking comments. Caracas has reached an agreement with Washington to export 30-50 million barrels of Venezuelan crude oil to the United States, worth up to $2 billion. Reliance stopped purchasing Venezuelan crude oil in...

These are the most popular stories from the Wall Street Journal. The Wall Street Journal has not verified these stories and cannot vouch for their accuracy. Donald Trump, the U.S. president, is planning to dominate Venezuela's oil industry in years to come. He told his aides that he believed his efforts would help lower oil prices at his preferred level of $50 per barrel. JPMorgan Chase and Goldman Sachs have reached an agreement to?take over the Apple credit card program. Warner Bros. Discovery advised its shareholders to reject Paramount’s amended hostile offer for the company. Discovery argued that its existing...

After taking office, U.S. president Donald Trump continues to criticize and take action against corporate executives, institutions and corporations. His actions, from innovative export deals to freezing university grants, have upended the status-quo between government, law and academia. Trump has publicly attacked a number of influential individuals and entities. HILTON WORLDWIDE HOLDINGS Hilton has removed a Minneapolis-area hotel from its system after a Department of Homeland Security posted on X that the hotel operator had "impeded" law enforcement by refusing to accept bookings for Immigration and Customs Enforcement (ICE) agents. "We will remove this hotel immediately from our system." Hilton...

Indian shares dropped on Tuesday. The 'heavyweight stocks HDFC Bank, and Reliance Industries were the main culprits. This was a day after the?Nifty 50 index retreated to record highs. The Sensex fell 0.21% as of 9:54 a.m. IST, and the?Nifty50 dropped 0.1% to 26231.40. Seven out of 16 major sectors fell. The small- and mid-caps both rose by 0.2% and 0.1% respectively. HDFC Bank, Reliance Industries and other major stocks in the benchmark indexes fell 1.6% and 3.3% respectively. Reliance denied a Bloomberg report that three vessels carrying Russian crude oil were heading to its Jamnagar refining facility. Reliance's move...

India's equity benchmarks started Tuesday slightly lower, led by HDFC Bank and Reliance Industries, as investors booked profits near record highs. However, optimism about an earnings improvement before the results season persisted. The Nifty 50 dropped 0.23% to 26189.7. As of 9:15 a.m. IST, the Sensex was trading 0.13% lower at 85,331.14. The gains in nine of the 16 major sectors were marginal. The small-caps, mid-caps, and broader indexes all rose by 0.4% and 0.1% respectively. HDFC Bank and Reliance Industries - the two heaviest stocks on the benchmark index - each lost 2%. The Nifty 50 reached a record...

Indian Oil Corp bought its first Colombian crude oil as part of an 'optional supply agreement' with state oil company Ecopetrol. This was done to diversify away from Russian oil. Indian refiners have been searching for crude oil as the tighter sanctions imposed by the U.S. on Russian oil producers and vessels and those of the European Union are causing a disruption in Russian imports. India's Russian oil imports will plunge to a 3-year low of 1.2 million barrels per day in December. This is down from 1.84million bpd during November, according to Kpler, a ship tracking company. Sources said...

Two sources familiar with this matter claim that Reliance Industries Limited in India continues to receive oil shipments from Rosneft, after Washington granted a one-month concession. Washington had imposed sanctions against the Russian producer. Reliance's special permission has never been announced before. The U.S. announced sanctions against Rosneft in October and Lukoil on November 21, giving companies until then to "wind down" transactions with these two energy firms. Reliance signed a long-term agreement with Rosneft to buy 500,000 barrels of Russian oil per day for its world's biggest refining facility, which processes 1.4 million barrels a day. Separately the EU...

Chennai Petroleum Corp. (CPCL), an Indian company, plans to increase the capacity of its Manali refinery in south 'India to 280,000 'barrels a day' from 210,000 bpd and enter fuel retailing. This is part of a strategy to grow. The company is a sub-sidiary of India's largest?refiner - the state-run Indian Oil Corp. It sells all of its transportation fuels, including diesel and gasoline, to the parent company, which also has a strong local retail network. H Shankar, managing director of the Chennai-based firm, announced that the company would enter the retail fuel business with 300 stations by the middle...

Ashwini Vashnaw, India's information minister, said that the cabinet allowed the export of coal on Friday because the power plants in the country have an excess. Power plants that have access coal supply will be allowed to export 50% of the coal they receive and can use it across all group companies. India, which is the second largest coal producer in the world, has opened its coal industry to commercial mining and private players to meet increasing energy demand and reduce dependence on imports. This move to allow the export of coal is in response to the fact that India's...

A top official in the power ministry said that India has no immediate plans to increase coal power generation beyond 2035. Pankaj Agarwal told an audience at a power ministry function that India wants to meet its energy needs. "By 2035, our goal is to have coal capacity of 307 Gigawatts." He said that it was "premature" to predict what the future holds beyond 2035. India proposed this year to increase its coal power by 46%, from its current 210 GW. It also doubled its non-fossil energy capacity of 500 GW. Agarwal stated that the coal power plans were in...

On Friday, Russian President Vladimir Putin and Prime Minister Narendra modi will meet in New Delhi to discuss ways to increase trade between the two countries. Western sanctions are affecting their long-standing relationship. Putin's first India visit in four years comes at a moment when New Delhi and the U.S. are in negotiations for a deal that will reduce punitive tariffs placed by Donald Trump on India's goods because of its Russian oil purchases. Moscow has been India’s largest arms supplier for decades. It has stated that it would like to import more Indian products in order to increase trade...

India and Russia announced on Thursday they wished to expand their trade, and the items that they deal in. This was just hours before Russian President Vladimir Putin arrived in New Delhi for a state visit. On Thursday, Putin begins a two-day trip to India, his first visit in four years. He hopes to increase sales of Russian oil and missile systems, as well as fighter jets, and to expand business relations between India and Russia beyond energy and defence. India and Russia are aiming to increase their two-way trade from $13 billion to $69 billion by 2030. This is...

On Monday, gold broke through $4600/ounce, and silver also reached a record-high, as investors rushed to buy'safe-haven' assets due to increased geopolitical uncertainty and a criminal investigation into Federal Reserve Chairman Jerome Powell. By 0619 GMT, spot gold had risen 1.4% to $4572.36 an ounce. Bullion reached a record-high of $4,600.33 during the day. U.S. Gold Futures for February Delivery firmed by 1.8% to $4.583.20. Tim Waterer is the chief market analyst at KCM Trade. He said: "So between the events in Iran and possible U.S. involvement, as well as the Fed chair being the subject of a criminal investigation,...

On 'Monday', gold broke through $4600/ounce, and silver hit a new record. Investors rushed to safe havens in response to increased geopolitical uncertainty, as well as a criminal investigation into Federal Reserve Chairman Jerome Powell. By 0410 GMT, spot gold had risen 1.3% to $4,668.80 an ounce. Bullion reached a record-high of $4,600.33 during the day. U.S. Gold Futures for February Delivery firmed by 1.8% to $4.579.10. "So, between events in Iran and possible U.S. participation, as well as the (Fed's) chair being at the center of a criminal investigation... U.S. Futures turned lower on Powell news which was a...

Gold prices fell on Thursday, as investors prepared for futures sales?linked?to? a commodity index reshuffle. A stronger U.S. Dollar added pressure to the price of gold by making it more expensive for overseas buyers. As of 0921 GMT, spot gold dropped 0.6% to $4.427.28 per ounce. U.S. Gold Futures for February Delivery fell 0.6% to $4435.40. "Gold and Silver remain under pressure, as the annual commodity index rebalancing begins. In the next five business days, COMEX metal futures may see sales in the region of $6-$7 billion. This is according to Ole Hansen of Saxo Bank, who heads commodity strategy....

Gold prices fell on Thursday, as a strong dollar weighed on investors. They were preparing for a major U.S. employment report due later this week, which will be used to assess the Federal Reserve’s policy and gauge U.S. influence on Venezuela. As of 0539 GMT, spot gold dropped 0.4% to $4435.62 an ounce. U.S. gold GCcv1 futures for February delivery dropped 0.4% to $4444.40. Bernard Sin, Regional Director- Greater China at MKS PAMP, said that traders are weighing increased geopolitical pressures, such as the U.S.'s intervention in Venezuela, against macroeconomic signals coming from the United States. The?dollar remained near its...

Gold prices fell on Thursday as a result of a strong dollar. Investors were preparing for the release of a key U.S. employment report this week, which will be used to assess the Federal Reserve’s policy and gauge U.S. influence on Venezuela. As of 0539 GMT, spot gold dropped 0.7% to $4423.20 an ounce. U.S. gold GCcv1 futures for February delivery dropped 0.7% to $4432.0. Bernard Sin, Regional Director- Greater China at MKS PAMP, said that traders are weighing increased geopolitical pressures, such as the U.S.'s intervention in Venezuela, against macroeconomic signals coming from the United States. The?dollar remained near...

De Beers' CEO,?Tony?Taylor, said that Anglo American is looking to sell its stake in De Beers and has received interest from business groups as well as African governments. Al Cook, CEO of De Beers said that Botswana Angola Namibia, all of which are major diamond producers, have shown an interest in purchasing equity in the company. He did not comment on the current status of the talks or who the parties were. In June, it was reported, citing reliable sources, that Anil 'Agarwal and Indian diamond groups, as well as Qatari investment funds, were among the people who had expressed...

Four people who are familiar with the talks say that Germany's Thyssenkrupp may sell its steel division to India Jindal Steel International over a period of time, as they try to reach a deal on the complex business. Jindal Steel began conducting due diligence in October, after making a bid indicative for Europe's largest steelmaker. Thyssenkrupp needs to focus on becoming leaner. The deal will help them achieve this. The people who spoke to us said that Jindal would take a majority share in?TKSE in a first move, most likely 60%. The remaining 40% could be acquired in two 20%...

The shares of Indian jewellery retailers rose between 2% to 13% after companies reported strong sales growth for the quarter ending December, driven by robust demand during the festive season despite a rise in gold prices. Titan Company shares rose 4.8%, reaching a record high of 4,307.80 Rupees. The company had reported a 40% increase in sales. Kalyan Jewellers & Senco Gold also?also rose 3.7% & 12.2% respectively after their quarterly update. Spot gold prices rose by nearly 12% in the last quarter of the year, closing out a calendar where precious metals saw their steepest increase since 1979. This...

The gold price fell on Wednesday, as investors booked profits after the prices briefly rose to a?one-week high in earlier trade. A stronger dollar was weighing on sentiment throughout the precious metals sector ahead of important U.S. employment data this week. As of 0330 GMT, spot gold was down 0.7% at $4,466.19 an ounce. Bullion reached a record-high of $4,496.71 on December 26. U.S. gold futures for February delivery fell 0.4% to $4,477.30. GoldSilver Central's managing director,?Brian Lan, said: "Precious Metals have increased (quickly this week) and there is a little profit-taking... The dollar has also pushed prices up." The...

Four people familiar with the discussions said that Germany's Thyssenkrupp might sell its steel division in several stages to India's Jindal Steel International, as both sides attempt to reach a deal for this complex business. Jindal Steel is conducting due diligence on Thyssenkrupp Steel Europe (TKSE) after submitting an indicative bid to acquire Europe's second largest steelmaker. Thyssenkrupp needs to focus on becoming leaner by acquiring the deal. The people who spoke to us said that Jindal would take a majority share in TKSE in a first move, most likely 60%. The remaining 40% could be acquired in two 20%...

Gold extended gains on Tuesday due to the demand for safe-haven assets after 'the U.S. The capture of Venezuelan president fuelled global tensions. Investors awaited U.S. employment data to gain insight into Federal Reserve interest rate policy. By 11:50 am, spot gold had risen 0.9% to $4,488.10 an ounce. After a near 3% increase in the previous session at 1650 GMT, prices are now closer to the record high price of $4,497.11 set on December 24. U.S. Gold Futures for February Delivery advanced by?1% to $4496. Jim Wyckoff is a senior analyst with Kitco Metals. He said that precious metals...

Gold prices rose again?on Tuesday, reaching a new high. The dovish remarks?of?Federal Reserve officials increased interest rate-cutting bets while Venezuelan tensions also boosted safe-haven demand. As of 0534 GMT spot gold was up 0.5% to $4,469.96 an ounce after a nearly 3% rise in the previous session. Bullion reached a record-high of $4,549.71 in December and recorded its best performance since 1979 with a 64% jump last year. U.S. Gold Futures for February Delivery rose by?0.7%, to $4481.30. The Fed's comments certainly did not hurt, but the calculation doesn't seem to have changed that much. "We have a busy week...