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Time of India
14 hours ago
- Business
- Time of India
Rupee gains 14 paise on Trump hint of no Iran action for now, equity flows
The Indian rupee modestly strengthened Friday, its first advance in six days tracking inflows into domestic equities, to close at 86.58 per dollar. The rupee climbed 14 paise despite volatile oil prices and no immediate signs of a truce in the Israel-Iran conflict. The strength in the rupee came after US President Donald Trump signalled to avoid any precipitate action on Iran. Rebalancing of the FTSE Russell index also led to some flows, traders said. The rupee traded between 86.54 and 86.67 to the dollar on Friday. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Direct Shopping From Adidas Franchise Store, Up To 50% Off Original Adidas Get Offer Undo Brent crude oil prices remained elevated at $77 per barrel, while the dollar index was at 98. A rise in crude oil prices is detrimental to inflation in India as the country is a large importer of the commodity. "Chances of rupee strengthening are very low while crude oil prices are this high. The gain we have seen today is all because of Trump's comments to postpone strikes on Iran," said Anil Bhansali, head of treasury at Finrex Treasury Advisors. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. The Reserve Bank of India was likely absent today and did not intervene, traders said. "The rebalancing flows of the FTSE Russell Index did help, but dollar demand was strong too, which countered the inflow," a trader said. Foreign investors bought Indian equities worth ₹7,940.7 crore on Friday. Live Events "The only positive we have seen is that FPIs are not large sellers in Indian equities," Bhansali said.
Zawya
04-05-2025
- Business
- Zawya
Sembcorp's 588MWp solar power plant in Oman begins commercial operation
Muscat – Following its earlier announcements on March 13, 2023 and December 30, 2024, Sembcorp Utilities Pte Ltd, a wholly-owned subsidiary of Sembcorp Industries (Sembcorp), announces the start of commercial operations of the 588MWp Manah II Solar Independent Power Project (Manah II) in Manah, Sultanate of Oman (Oman). This milestone follows the successful completion of acceptance tests announced earlier. It marks the commencement of power supply under a 20-year power purchase agreement for 500MW with Nama Power and Water Procurement Company. Manah II is Sembcorp's first greenfield renewables development in the Middle East and its largest utility-scale solar farm project to date. It supports Oman Vision 2040 by contributing clean energy to the national grid and advancing the country's goal of achieving 30% renewable energy in its electricity mix by 2030. ABOUT SEMBCORP INDUSTRIES Sembcorp Industries (Sembcorp) is a leading energy and urban solutions provider, led by its purpose to drive energy transition. Headquartered in Singapore, Sembcorp delivers sustainable solutions to support energy transition and urban development by leveraging its sector expertise and global track record. Sembcorp has a balanced energy portfolio of 25.3GW, including 17.2GW of gross renewable energy capacity, across 11 countries*. Its urban development projects span close to 14,800 hectares across Asia and have generated over 414,000 employment opportunities and attracted close to US$58 billion of investment capital. Sembcorp is listed on the main board of the Singapore Exchange. It is a constituent stock of FTSE Russell Index, MSCI Singapore Index, Straits Times Index as well as sustainability indices including FTSE4Good Index, iEdge SG ESG indices and several MSCI ESG indices. For more information, please visit * Total gross capacity assumes 100% ownership of assets, including projects secured and under construction, and acquisitions pending completion.
