2025-11-14 06:05

NEW DELHI, Nov 14 (Reuters) - India's Adani Group said on Friday it will invest about 630 billion rupees ($7.17 billion) in two major energy projects in the north-eastern state of Assam, including what will be the region's largest privately built coal-fired power plant. Reuters last month reported that Adani Power (ADAN.NS) , opens new tab had emerged as the lowest bidder for a 3.2 gigawatt (GW) coal power supply tender floated by the state. Sign up here. Adani said on Friday that its coal power plant operating unit will spend about 480 billion rupees ($5.46 billion) to build the facility. The plant is expected to start commissioning in phases from December 2030, the company said. The investment marks the acceleration of private investment in India's greenfield coal-based power projects after more than a decade of lull. In August, Adani Power announced investments of about $5 billion in two coal-powered plants. The company aims to expand capacity to 42 GW from 18 GW by fiscal 2032 at an investment of 2 trillion rupees. India, the world's second largest coal producer and consumer, still generates about three quarters of its electricity from coal annually, unlike top coal user China, which has progressively reduced its dependence on the polluting fuel. Adani's clean energy entity, Adani Green Energy (ADNA.NS) , opens new tab plans to invest about 150 billion rupees in two pumped storage projects in Assam, with a combined capacity of 2,700 megawatts (MW), including 500 MW of energy storage awarded in a recent tender, the statement said. Earlier this year, the group's Chairman Gautam Adani had pledged to invest 500 billion rupees in the north-eastern region. Adani Green has overall 16.7 GW of renewables and aims for 50 GW by 2030. Separately, the group said it will invest 1 trillion rupees in southern state of Andhra Pradesh over the next decade in various sectors. ($1 = 87.8950 Indian rupees) https://www.reuters.com/sustainability/climate-energy/adani-group-invest-717-bln-power-projects-indias-assam-state-2025-11-14/

2025-11-14 06:03

India discount jumps to $43/oz, up from $14 last week Premiums of $1.5-$3.5/oz charged in Singapore Nov 14 (Reuters) - Physical gold demand across major Asian markets was subdued this week as elevated prices curtailed buying activity, with discounts in India reaching their highest level in five months. Indian dealers' discounts were up to $43 per ounce over official domestic prices, inclusive of 6% import and 3% sales levies, up from the last week's discount of up to $14. Sign up here. "Footfall at jewellery stores has dropped a lot after Diwali, and sales are also down sharply because prices are so high," said a Chennai-based jeweller. Domestic gold prices were around 126,900 rupees ($1,443.77) per 10 grams on Friday, up 6.5% from last week's low 119,150 rupees. Benchmark spot gold prices were on track for a weekly gain, up 5% this week. Meanwhile, the India Bullion and Jewellers Association (IBJA) has asked the government to close a policy loophole that allowed import-duty-free platinum-alloy jewellery that contained about 90% gold. After extracting gold from the jewellery, a few dealers sell it at a discount, distorting trade as banks are required to pay a 6% duty on imported gold, said Harshad Ajmera of wholesaler JJ Gold House in Kolkata. In top consumer China, bullion traded anywhere from a discount of $8 to a $4 premium an ounce over the global benchmark spot price . "Asia's gold market has entered a 'pause mode' led by China," said Bernard Sin, regional director of Greater China at MKS PAMP. "Sentiment remains cautious: with gold prices at record highs and higher volatility, many traditional retail buyers are staying on the sidelines, waiting for a clearer correction." In Singapore , gold traded between a $1.50 and $3.50 premium this week. Gold in Hong Kong was sold at premiums ranging between $0.50 and $2.50. In Japan, bullion was sold at par to a premium of $0.50 per ounce over spot prices. ($1 = 87.8950 Indian rupees) https://www.reuters.com/world/china/asia-gold-price-rise-dulls-activity-top-hubs-india-discounts-hit-5-month-high-2025-11-14/

2025-11-14 06:02

AMSTERDAM, Nov 14 (Reuters) - A 3.4 magnitude earthquake hit the Groningen region in the north of the Netherlands early on Friday, Dutch meteorology institute KNMI said. No injuries were reported. Sign up here. The quake was the most severe in years to hit Groningen, where decades of gas production have led to dozens of minor tremors every year. Production at what was once one of Europe's major natural gas fields was permanently halted two years ago to limit the seismic activity that has damaged thousands of buildings over the years. The end of production is expected to limit the risk of severe quakes in the future, but it will probably take decades for seismic activity to completely subside, Dutch mining authority SodM said on Friday. https://www.reuters.com/business/environment/dutch-groningen-region-hit-by-34-magnitude-earthquake-2025-11-14/

2025-11-14 05:56

BERLIN, Nov 13 (Reuters) - Germany's lower house of parliament passed two bills late on Thursday aimed at lowering electricity prices, which are among the highest in Europe and are a burden on industry and the wider economy. The costs are inflated by transmission fees, levies and taxes. Sign up here. ($1 = 0.8575 euros) https://www.reuters.com/sustainability/boards-policy-regulation/german-lawmakers-back-measures-lower-electricity-costs-2025-11-14/

2025-11-14 05:32

SINGAPORE, Nov 14 (Reuters) - A look at the day ahead in European and global markets from Gregor Stuart Hunter It has been a wrenching 24 hours for markets as traders reined in expectations that the U.S. Federal Reserve will ease policy at its December meeting, with a cut now viewed as a coin toss. Stocks, Treasury bonds and the U.S. dollar all fell. Sign up here. Adding to the gloom, data released on Friday showed China's factory output and retail sales grew at their weakest pace in over a year in October. Comments from Fed officials have increased the prospects of a hold at the central bank's final meeting of the year. Alberto Musalem, president of the St. Louis Fed, said there was limited room to ease further without becoming overly accommodative, while Cleveland Fed President Beth Hammack said the interest rate policy should remain restrictive in order to put downward pressure on inflation. Minneapolis Fed President Neel Kashkari told Bloomberg that he opposed a rate cut last month and is on the fence about December as well. Fed funds futures are now pricing an implied 50.7% probability of a quarter-point cut at the central bank's next meeting on December 10, according to the CME Group's FedWatch tool, down from a 63% chance on Thursday. The yield on the benchmark 10-year Treasury note rose to 4.1211% compared with its U.S. close of 4.111% on Thursday, while the two-year yield , which rises with traders' expectations of a higher Fed funds rate, reached 3.593%, compared with a U.S. close of 3.589%. The greenback found little reprieve from higher bond yields, however, with the U.S. dollar index sliding 0.1% to 99.13, nearing its lowest point of the month. Asian markets fell after Wall Street stocks snapped a four-day winning streak on Thursday, pushing MSCI's broadest index of Asia-Pacific shares excluding Japan (.MIAPJ0000PUS) , opens new tab down 1.5% on Friday. Dip-buying during Asian trading hours had petered out by the afternoon, with S&P 500 e-mini futures paring gains to last trade down 0.1%. In early European trading, Euro Stoxx 50 futures were down 0.4%, German DAX futures rose 0.1% and FTSE futures slid 0.5%. Sterling was last down 0.4% at $1.3145 after the Financial Times, citing officials briefed on the decision, reported that British Prime Minister Keir Starmer and Chancellor of the Exchequer Rachel Reeves have abandoned plans to raise income tax rates, changing course just weeks before the November 26 release of the government's budget. Oil prices rose after a Ukrainian drone attack damaged a Russian oil depot, sending Brent crude prices up 1.5% to $63.96. Key developments that could influence markets on Friday: Earnings: Allianz, Swiss Re, Rolls-Royce Holdings Economic data: France: CPI for October Eurozone: Employment flash for Q3, trade balance for September, GDP flash estimate for Q3 Debt auctions: U.K.: 1-month, 3-month and 6-month government debt https://www.reuters.com/world/china/global-markets-view-europe-2025-11-14/

2025-11-14 05:09

MUMBAI, Nov 14 (Reuters) - The Indian rupee weakened on Friday and for the week as global risk-off sentiment added to pressure from unfavourably skewed hedging and investment flows, keeping the currency pinned near its record low. The Reserve Bank of India likely intervened across the spot, NDF and futures markets to stabilise the currency, traders said. The rupee closed at 88.7425 per U.S. dollar, down about 0.1% on both the day and week. Sign up here. Global markets were under strain after hawkish Federal Reserve commentary dampened expectations of a U.S. rate cut next month. India’s benchmark equity indexes, the BSE Sensex (.BSESN) , opens new tab and Nifty 50 (.NSEI) , opens new tab though, bucked the trend with a 0.2% rise compared to the near 2% drop in MSCI’s gauge of Asian shares outside Japan (.MIAPJ0000PUS) , opens new tab. The rupee hovered in touching distance of its all time low at 88.80 through the day's session but averted steeper losses on account of the central bank's market intervention. The currency has held on the stronger side of that level since Sept. 30, supported by stepped-up RBI defence that has also kept volatility expectations contained. Asian currencies were trading mixed and the dollar index was steady at 99.2. While the U.S. government shutdown has concluded, investors continue to fret over gaps in economic data that could delay or even derail future policy easing. Money markets are currently pricing in a near 49% chance of a Fed rate cut next month, down from above 60% earlier in the week. "The bar for a December cut has risen when hearing Fed officials. While the move in the dollar fits our bearish view, it feels a bit premature and at risk of rapid reversal should the initial batch of US data prove not as bad as seemingly priced in," ING said in a note. https://www.reuters.com/world/india/risk-off-poised-drag-rupee-near-record-low-challenging-rbis-defence-2025-11-14/