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April 20: Rupee hits new 3-month low

  • April 20: Rupee hits new 3-month low

    April 20: Rupee hits new 3-month low

  • Posco Q1 profit drops

    An employee of steelmaker POSCO walks at the company's headquarters in Seoul

    South Korean steelmaker Posco , backed by billionaire investor Warren Buffett, posted a 54% drop in first-quarter profit because of slack demand, lower product prices and higher raw-material costs

    Operating profit fell to 422 billion won on a parent basis in January to March from 921 billion won a year earlier, the world's No. 3 steelmaker after ArcelorMittal and China's Baosteel said on Friday

  • Sistema to take $1 bn writedown on India

    Man walks past the hoarding of MTS India, the mobile telecom service brand of SSTL, in Mumbai

    Russian services conglomerate Sistema will take a writedown of nearly $1 billion related to the suspension of its Indian telecom licences, sources close to Sistema, said on Friday

    The writedown is a non-cash item that will be recognised in Sistema's fourth-quarter results, eroding earnings, one of the sources told Reuters. Sistema declined to comment

  • Royal Enfield back on the road

    Workers assemble Royal Enfield motorcycles inside its factory in Chennai

    Royal Enfield, a 119-year-old Anglo-Indian motorcycle maker with a cult following, has brought its distinctive bikes into the modern era with new and quieter engines and can't make them fast enough to meet demand

    The once-sleepy company sold 74,600 motorcycles in 2011, a 40 percent increase, all made at its 57-year-old factory in Chennai. It is spending $30 million this fiscal year in a push to double capacity and upgrade manufacturing technology

  • Japan's Nikkei falls for the third straight week

    A man looks at an electronic monitor displaying share prices outside a brokerage in Tokyo

    Japan's Nikkei index fell on Friday to post its third straight weekly loss after a Spanish bond auction failed to extinguish fears of a renewed euro zone debt crisis, but a weaker yen offered support

    The Nikkei closed 0.3% lower at 9,561.36, below its 13-week moving average near 9,575, and was down 0.8% this week

    The benchmark has fallen 5.2% this month on concerns of a slowing U.S. economic recovery and Spain's finances, after rallying more than 19% in January-March to log its best first quarter performance in 24 years

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