Latest news with #ChandniShah
Yahoo
04-08-2025
- Business
- Yahoo
India to maintain Russian oil imports despite Trump threats, government sources say
By Shivam Patel and Chandni Shah NEW DELHI (Reuters) - India will keep purchasing oil from Russia despite U.S. President Donald Trump's threats of penalties, two Indian government sources told Reuters on Saturday, not wishing to be identified due to the sensitivity of the matter. On top of a new 25% tariff on India's exports to the U.S., Trump indicated in a Truth Social post last month that India would face additional penalties for purchases of Russian arms and oil. On Friday, Trump told reporters he had heard that India would no longer be buying oil from Russia. But the sources said there would be no immediate changes. "These are long-term oil contracts," one of the sources said. "It is not so simple to just stop buying overnight." Justifying India's oil purchases from Russia, a second source said India's imports of Russian grades had helped avoid a global surge in oil prices, which have remained subdued despite Western curbs on the Russian oil sector. Unlike Iranian and Venezuelan oil, Russian crude is not subject to direct sanctions, and India is buying it below the current price cap fixed by the European Union, the source said. The New York Times also quoted two unnamed senior Indian officials on Saturday as saying there had been no change in Indian government policy. Indian government authorities did not respond to Reuters' request for official comment on its oil purchasing intentions. However, during a regular press briefing on Friday, foreign ministry spokesperson Randhir Jaiswal said India has a "steady and time-tested partnership" with Russia. "On our energy sourcing requirements ... we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances," he said. The White House did not immediately respond to requests for comment. INDIA'S TOP SUPPLIER Trump, who has made ending Russia's war in Ukraine a priority of his administration since returning to office this year, has expressed growing impatience with Russian President Vladimir Putin in recent weeks. He has threatened 100% tariffs on U.S. imports from countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Russia is the leading supplier to India, the world's third-largest oil importer and consumer, accounting for about 35% of its overall supplies. India imported about 1.75 million barrels per day of Russian oil from January to June this year, up 1% from a year ago, according to data provided to Reuters by sources. But while the Indian government may not be deterred by Trump's threats, sources told Reuters this week that Indian state refiners stopped buying Russian oil after July discounts narrowed to their lowest since 2022 - when sanctions were first imposed on Moscow - due to lower Russian exports and steady demand. Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd have not sought Russian crude in the past week or so, four sources told Reuters. Nayara Energy - a refinery majority-owned by Russian entities, including oil major Rosneft, and major buyer of Russian oil - was recently sanctioned by the EU. Nayara's chief executive resigned following the sanctions, and three vessels laden with oil products from Nayara Energy have yet to discharge their cargoes, hindered by the new EU sanctions, Reuters reported last week. Solve the daily Crossword
The Star
09-07-2025
- Business
- The Star
Britain's Revolut in talks to raise new funding at $65 billion valuation, FT reports
FILE PHOTO: Revolut logo is seen in this illustration taken July 29, 2024. REUTERS/Dado Ruvic/Illustration/ File Photo (Reuters) -London-based financial technology giant Revolut is in talks to secure new funding at a valuation of $65 billion, the Financial Times reported on Wednesday, citing people familiar with the matter. The company is in discussions to raise about $1 billion via newly issued shares and the sale of some existing stock, the report said, adding that U.S.-based investment firm Greenoaks is in talks to lead the private funding. Revolut declined to comment on the report, while Greenoaks did not immediately respond to a Reuters request. Last year, Revolut was valued at $45 billion through a secondary share sale to new and existing investors. It has emerged as the most successful of the handful of European fintechs founded in the past decade with a digital-only model. The company in April reported a more than twofold surge in last year's pretax profit to 1.1 billion pounds and said it expected to start operating as a UK bank in 2025. ($1 = 0.7357 pounds) (Reporting by Chandni Shah in Bengaluru; Editing by Shilpi Majumdar)
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Business Standard
08-07-2025
- Business
- Business Standard
Jane Street to challenge Sebi's market manipulation charges, email shows
Jane Street's email sent to its employees said it was "beyond disappointed" by the regulator's "extremely inflammatory" accusations and was working on a formal response Reuters Jane Street plans to contest a finding by India's financial regulator that the U.S. trading firm engaged to manipulate the country's markets, according to the company's internal email seen by Reuters. Jane Street's email sent to its employees said it was "beyond disappointed" by the regulator's "extremely inflammatory" accusations and was working on a formal response. On Friday, the Securities and Exchange Board of India barred the firm from buying and selling securities in the Indian market and also seized $567 million of its funds. Sebi has widened an investigation into alleged market manipulation by Jane Street to include other indexes and exchanges, a source told Reuters last week. "It's deeply upsetting to see the firm mischaracterised this way," the Jane Street email read. "Once again, we left this process feeling that we had reached an understanding of the concerns and reflected them in modifications to our trading behaviour." "Since February, we have made ongoing efforts to communicate with Sebi and have been consistently rebuffed." The regulator alleged that Jane Street bought large quantities of constituents in India's Bank Nifty index in the cash and futures markets to artificially support the index in morning trade, while simultaneously building large short positions in index options. The regulator's investigation tracked Jane Street's trading patterns over more than two years. Sebi did not immediately respond to Reuters requests for comment outside regular hours. India's markets regulator is enhancing its surveillance to scrutinize manipulation in derivatives trading, its chairman said on Monday. India is the world's largest derivatives market, accounting for nearly 60% of global equity derivative trading volumes of 7.3 billion trades in April, the Futures Industry Association says. Financial Times was the first to report the news about Jane Street's plan to contest the finding. (Reporting by Urvi Dugar and Chandni Shah in Bengaluru ; Editing by Maju Samuel and Shailesh Kuber) (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Zawya
24-06-2025
- Business
- Zawya
Adani's Mumbai Airport inks $750mln deal with Apollo-led investor group
Mumbai International Airport Ltd, a subsidiary of Adani Airport Holdings, has secured a $750 million investment from a group led by affiliates of Apollo-managed funds and other long-term backers, the U.S. private capital group said on Monday. The four-year unsecured notes will be used to refinance existing debt, with an option to raise an additional $250 million, Apollo said in a statement. Adani Airports Holdings, the airport division of Adani Enterprises, secured a $750 million investment earlier this month from a consortium of international banks. The unit is expected to be spun off and listed by March 2027, according to a Bloomberg report from June. Adani Airport Holdings currently operates eight airports across India and also oversees the Navi Mumbai International Airport, a strategically located project on the outskirts of Mumbai set become operational soon. Adani Airport Holdings and Adani Enterprises did not immediately respond to requests for comment outside of business hours. (Reporting by Chandni Shah in Bengaluru; Editing by Sherry Jacob-Phillips)
Time of India
08-05-2025
- Business
- Time of India
Aditya Birla Capital confronts the rising cost of motherhood
HighlightsAditya Birla Capital's campaign 'Motherhood on Hold' emphasizes the financial challenges women face in deciding to become mothers, encouraging early financial planning. The campaign creatively portrays the emotional toll of delaying motherhood, using a poignant HR exit interview metaphor to symbolize the deferral of motherhood dreams due to financial constraints. According to Darshana Shah, Chief Marketing Officer of Aditya Birla Capital, the campaign serves as a reminder that motherhood should never be a compromise and highlights the importance of financial readiness. Challenging the traditional Mother's Day narrative, the campaign urges women to reclaim agency over their timelines through financial readiness and planning. This Mother's Day, Aditya Birla Capital in creative partnership with FCB Kinnect moves beyond the usual celebratory lens to spotlight a growing and often unspoken truth - the rising cost of motherhood , and how it's compelling many women to put their dreams of parenthood on hold. Titled 'Motherhood on Hold', the campaign has brought to life a powerful insight - for many women today, the decision to become a mother is no longer purely emotional, it's increasingly financial. Backed by data that reveals a rising number of women delaying motherhood due to growing expenses, from prenatal care and childcare to education and everyday living, the campaign underscores the importance of early financial planning. It encourages women to take control of their timelines, reminding them that with the right preparation, motherhood can be a choice, not a compromise. The campaign employs a surprising and thought-provoking narrative device. A woman is seen conducting what appears to be a routine HR exit interview. But in a poignant twist, the 'candidate' she's letting go is revealed to be her own future child - a dream deferred by financial constraints. The campaign paints a deeply relatable picture: that for many, delaying motherhood isn't a decision made lightly, it's a consequence of rising costs. And while the choice may be difficult, financial readiness can make all the difference. Darshana Shah, chief marketing officer, Aditya Birla Capital said, 'Motherhood should never be a compromise. 'Motherhood On Hold' is a powerful reminder of the financial realities many women face today, and a call to act early, so that dreams like motherhood aren't dictated by circumstance.' Chandni Shah, chief operating officer, FCB Kinnect added, 'Motherhood on Hold' is for the women still waiting to become mothers, a reality often left out of the conversation. And that's where creativity becomes meaningful, when it bridges emotional insight with brand purpose.' Neville Shah, chief creative officer, FCB Kinnect said, 'Today planning for motherhood is stressful enough as it is. And to add to it, the cost of becoming a mother and being a parent is rising. We just wanted to gently nudge the people who want to be mothers that we can help them plan one thing and ease that stress.' Watch the video here:
