Page 1026 - Business Finance
Gold gains as global growth concerns dent risk appetite
(Reuters) - Gold rose on Friday as a gloomy global economic outlook dented risk appetite, but a firm dollar stemmed bullion's advance and kept the metal on track for its first weekly decline in three.
World stocks poised for weekly loss; dollar firms again
NEW YORK (Reuters) - World stocks fell for a third straight day on Friday on pessimism about global economic growth and trade tensions, putting them on track for their first weekly drop this year, while the U.S. dollar was on track for its biggest weekly gain since August.
HMSI enters middle-weight motorcycle segment; launches CB300R
Honda Motorcycle & Scooter India on Friday entered into the growing middle-weight motorcycle segment with launch of CB300R.
Karnataka CM presents deficit budget for fiscal 2019-20
Burdened by Rs 12,650-crore farm loan waiver and other exigencies, Karnataka Chief Minister H.D. Kumaraswamy on Friday presented a deficit budget for fiscal 2019-20.
Oil little changed, in line for weekly loss on slowdown fears
NEW YORK (Reuters) - Oil futures were little changed on Friday, on track for losses on the week in renewed concerns about slowing global demand.
Brent oil edges up, heads for weekly loss on slowdown worries
LONDON (Reuters) - Benchmark Brent oil prices inched up on Friday but were heading for a weekly loss, pulled down by worries about a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Venezuela provided crude with some support.
RBI penalises Allahabad Bank, Corporation Bank
The Reserve Bank of India (RBI) has imposed separate monetary penalties on lenders Allahabad Bank and Corporation Bank over deficiencies in complying with various regulatory norms.
UCO Bank narrows net loss to Rs 998.74 crore in Q3
State-run lender UCO Bank on Friday said it narrowed net loss to Rs 998.74 crore for the quarter ended December 31, 2018 as against a net loss of Rs 1016.43 crore for the same period a year ago.
PMS rout pulls Porinju Veliyath's Equity Intelligence stock down 8% in January
The stock of portfolio management company Equity Intelligence, whose investors' wealth has eroded by almost 44 per cent in the current fiscal, slipped 8 per cent last month amid a rout in portfolio management services (PMS) stocks that saw some notable PMS losing up to 10 per cent on the BSE.
US may withdraw zero tariffs for India
India's FDI policy on e-commerce and mandatory data localisation for global card payment companies seems to have rubbed Donald Trump on the wrong side as the US is thinking about withdrawing zero tariffs for India, sources said.
Network Capacity Fee not mandatory for more than one TV connection: TRAI
The Telecom Regulatory Authority of India (TRAI) on Friday said the network capacity fee (NCF) is not mandatory for the second or any subsequent television connections in a household and service providers can provide uniform discounts in a particular location.
M&M's Q3 standalone net profit down by more than 11%
Automobile major Mahindra and Mahindra (M&M) on Friday reported a 11.43 per cent fall in its standalone net profit for the quarter-ended Decemeber 31, 2018-19.
Subdued sales, Q3 results dent auto stocks; Tata Motors down 17%
High interest cost and financing constraints continued to slow down the overall sales of the Indian automobile industry, denting not just company performances but also equity prices.
Jet Airways' scrip down 5% as four aircraft grounded
Financially stressed Jet Airways' stocks fell by around 5 per cent on Friday a day after the airline said that four of its aircraft have been grounded for non-payment of dues to lessors.
SBI reduces rates on all home loans up to Rs 30 lakh
A day after the Reserve Bank of India (RBI) reduced a key lending rate, the State Bank of India (SBI) decided to cut interest rates on all home loans up to Rs 30 lakh.
HC seeks Centre's response on plea seeking to stop sharing PAN details
The Delhi High Court on Friday asked Centre and Reserve Bank of India to file response to a plea seeking protection of privacy of the customer by immediately stopping the bank to share the details of the transactions of the customers and borrowers based on PAN.
Share sale by L&T Finance, Edelweiss group companies illegal: Reliance Group
The Anil Ambani-led Reliance Group on Friday termed as "illegal and excessive" the open market sale of shares of Reliance Group invoking the pledge from 4.2.2019 to 7.2.2019 by L&T Finance and some entities of Edelweiss group.
NSE to introduce dynamic price band for futures contracts
The National Stock Exchange Friday said it will introduce a dynamic price band for futures contracts in order to prevent erroneous order entries. There are no fixed price band applicable for stock futures contracts. "However, in order to prevent erroneous order entry, a dynamic price band for futures contract shall be kept at certain percentage of the base price as defined by the exchange from time to time," the bourse said in a circular. The dynamic price band will be relaxed by 5 per cent in case of a market trend in either direction. In a separate circular, the bourse said there would also be operating ranges for no price band securities. "There is no price band in respect of securities, for which derivative products are available. "However, in order to prevent members from entering orders at non-genuine prices in such securities based on pre-trade risk control guidelines, the exchange has set the dummy circuit (dynamic price bands) filter (operating range) at 10 per cent," it
Cipla completes 1st tranche of acquisition in US-based Avenue Therapeutics
Drug major Cipla Friday said its subsidiary InvaGen Pharmaceuticals Inc has completed the first tranche of its acquisition of 33.3 per cent stake in US-based speciality business firm Avenue Therapeutics. In November last year, the company had said it intends to acquire Avenue Therapeutics, a Fortress Biotech company, for up to USD 215 million (around Rs 1,560 crore) in two stages. Cipla had also said the first tranche of 33.3 per cent stake will be acquired for USD 35 million, while the remaining stake in the second stage for up to USD 180 million. In a BSE filing, Cipla said its wholly-owned subsidiary InvaGen Pharmaceuticals has "completed the first stage closing of the Avenue Therapeutics Inc, transaction representing an acquisition of 33.3 per cent stake in Avenue's capital stock on fully diluted basis on 8th February 2019." Cipla had also said the second stage closing will be subject to the certain conditions, including those related to USFDA approval and the absence of any Risk .
Trump official slams cartels as lawmakers push anti-OPEC bill
WASHINGTON (Reuters) - A senior Trump administration official on Friday said U.S. national security depends on affordable energy, and slammed cartels when asked whether President Donald Trump would support a bill targeting the OPEC production group's oil supply cuts.