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The dollar headed for a second weekly gain in a row on Friday on signs of resilience in the U.S. economy and caution about rate cuts from central bankers.

Oil prices drifted lower on Friday after a rally the day before, as geopolitical tensions and disruptions in U.S. oil production from a cold blast were countered by concerns over slow demand growth in China.

Social media platform Reddit has drawn up detailed plans to launch its initial public offering (IPO) in March, moving forward with a listing it has been eyeing for more than three years, according to people familiar with the matter.

People close to Sony said the multinational has offered Punit Goenka the role of advisor at the new company, but said he should not be on the board, pending regulatory investigations. As of now, Goenka as boss of new merged co, failing financial health, unmet conditions are being seen as key hurdles to the deal going through.

As of January 18, foreign funds owned 21.2%, or ₹10,398 crore worth, of outstanding stock of a government bond maturing in 2028, Clearing Corporation of India data showed. The bond, which has an outstanding stock of ₹49,000 crore, is among the most liquid in the secondary market.

The developments come at a time when European banks are shelling out hefty sums as central counterparty exposures for dealing with the Clearing Corporation of India (CCIL), the RBI-supervised organisation which has found itself at the epicentre of the regulatory logjam between the Indian central bank and the ESMA.

The State of the Economy report of the central bank said that inflation needs to align with the target by the second quarter of the year and get anchored there to achieve 7% GDP growth in FY25. RBI in its December 2023 policy projected inflation measured by Consumer Price Index to be at 4% in the second quarter FY25.

ODIs, often loosely called participatory notes, are issued by FPIs (against underlying securities in India) to offshore investors who bet on Indian stocks without registering themselves with the Securities & Exchange Board of India (SEBI).

Shares of HDFC Bank fell nearly 13% in the last two trading sessions. About 17 crore shares changed hands on Wednesday and Thursday compared to an average of 1.2 crore shares traded between January 1 and 16.