Page 1175 - Business Finance
Oil rises as traders expect Venezuelan supply disruptions amid U.S. sanctions
SINGAPORE (Reuters) - Oil prices rose on Wednesday as concerns about supply disruptions following U.S. sanctions on Venezuela's oil industry outweighed downward pressure from a darkening outlook for the global economy.
Global Markets: Apple relief steadies stocks, investors await Fed, U.S.-China talks
TOKYO (Reuters) - Asian equities steadied on Wednesday as investors awaited Federal Reserve policy guidance and the outcome of high level trade talks between the United States and China, while drawing relief from Apple Inc's earnings.
Markets open in green territory with Sensex up 108 points
Indian shares opened mildly in the green on Wednesday with the S&P BSE Sensex up 108 points at 35,701 at 10The Nifty 50 was also ruling 24 points high at 10,676.Among the early gainers were Axis Bank, ICICI Bank, Yes Bank, Tata Steel and HCL Tech. Market experts said good results from Bajaj Finance and HDFC saw short covering and value buying.Asian indices too showed positive rings as markets stabilised after seeing strong flows into equities. However, US-China trade talks are going to be the next catalyst for equities going forward.In US markets, Apple shares rose 5.7 per cent at opening on Tuesday as the iPhone maker reported sharp growth in its services business.
Multi-level marketing racket busted in Hyderabad
The local police here arrested three people on Wednesday for allegedly cheating the public through an illegal multi-level marketing racket running to Rs 100 crore. The police said, Jinna Srikanth, the prime accused along with two others, started multi-level marketing business M/s Green Gold Biotech in December 2014 without getting requisite permission from the state authorities. They introduced schemes to 1,550 customers with an intention to cheat them.A case under relevant sections of the IPC, the Prize Chits And Money Circulation Schemes Act and Telangana Protection of Depositors of Financial Establishment Act has been registered against the accusedFor promoting the multilevel marketing the accused introduced different levels of Agents/stockiest and induced them with 12 months proportionate incentive on direct/indirect team businesses for a period of 12 months, commission on the monthly basis and bonanzas like mobile phones, laptops, bikes etc at the year ending. Initially, the ...
Lambda Therapeutic Research Acquires U.S. CRO - Novum Pharmaceutical Research Services
/ -- In a move to provide greater global reach for pharmaceutical customers and greater capabilities in the U.S. market, one of the world's leading Contract Research Organizations (CRO), Lambda Therapeutic Research, has reached an agreement to acquire Novum Pharmaceutical Research Services, a leading CRO in the U.S., in a private transaction. Terms were not disclosed. Novum has numerous global clients served throughout its U.S. operations with facilities in Pittsburgh, Las Vegas, Fargo & Houston. It will be a wholly-owned subsidiary of Lambda. Lambda, headquartered in India, has operations in India, Canada, Poland and the United Kingdom. Commenting about the acquisition of Novum, Mrs. Bindi Chudgar, Managing Director of Lambda, said, "This is our second footprint in North America following our acquisition of the R&D facilities of Biovail CRO in 2010 in Canada. Novum is a strategic fit for Lambda as it provides a natural platform for growth in the United States, the world's ...
Interlabz Helps Hospitality Leaders Maximize Revenues With Two New Innovative Hospitality Solutions Launched at the Hospitality Industry Technology Exposition & Conference (HITEC) in Dubai
/ -- Interlabz' Surfsonix products are helping the hospitality industry create value and face the challenge of waning customer loyalty. Their two new cloud-based hospitality solutions, Surfsonix Call Accounting Solutions and Hotel Operations Management Solutions, launched by Interlabz at HITEC in Dubai on the 6th & 7th of December last year had created quite the buzz. (Logo: https://mma.prnewswire.com/media/814174/Interlabz_Logo.jpg ) These hospitality solutions provide a seamless customer experience and exceptional engagement through reliable communication networks and user-friendly interface. Some of the top hospitality companies have partnered with Interlabz to integrate Surfsonix products into their operational systems. Surfsonix products are most often quoted for these benefits: Reduced operational expenses and increased returns Streamlining of operations Increased efficiency in deployed processes Easy integration of application and on-boarding Providing meaningful and ..
Sensex up 200 points, Nifty above 10,700
The Sensex on Wednesday opened over 200 points higher while the Nifty reclaimed the 10,700 mark owing to strong gains in banking stocks.
Japan's Akebono Brake seeking capital from Toyota, debt relief
TOKYO (Reuters) - Japan's Akebono Brake Industry Co Ltd is seeking a capital infusion from top shareholder Toyota Motor Corp and a moratorium on debt repayment as part of a revival plan, sending its shares tumbling by a quarter on Wednesday.
Mahindra Lifespace Developers Ltd Slips 1.14%
Mahindra Lifespace Developers Ltd has added 0.46% over last one month compared to 1.68% fall in S&P BSE Realty Index index and 0.78% drop in the SENSEX
Axis Bank Ltd Surges 4.05%
Axis Bank Ltd has added 10.93% over last one month compared to 0.89% fall in S&P BSE BANKEX index and 0.9% drop in the SENSEX
Rupee slips 25 paise to 71.36 vs USD in early trade
The rupee depreciated by 25 paise to 71.36 against the US dollar in early trade Wednesday amid strengthening of the American currency and rising crude prices. Forex traders said strengthening of the US dollar against some currencies overseas and sustained foreign fund outflows weighed on the local unit. However, fresh foreign fund inflows and positive opening in domestic equities capped the losses for the domestic unit. At the Interbank Foreign Exchange, the rupee opened on a weak note at 71.34 then fell further to 71.36 against the US dollar, showing a decline of 25 paise over its previous closing. On Tuesday, the rupee had settled 1 paise lower at 71.11 against the US dollar. Foreign funds sold shares worth Rs 354.36 crore from the capital markets on a net basis Tuesday, while domestic institutional investors bought shares worth Rs 81.27 crore, provisional data showed. The global benchmark, brent crude oil was trading at USD 61.49 per barrel, higher by 0.28 per cent. Meanwhile, ...
Market drifts higher in early trade
Domestic stocks edged higher in early trade led by gains in ICICI Bank, Axis Bank and Reliance Industries. At 9:22 IST, the barometer index, the S&P BSE Sensex, was up 154.93 points or 0.44% at 35,747.43. The Nifty 50 index was up 40.15 points or 0.38% at 10,692.35.
Oil prices rise on Venezuelan supply concerns following U.S. sanctions
SINGAPORE (Reuters) - Oil prices rose on Wednesday as concerns about supply disruptions following U.S. sanctions on Venezuela's oil industry outweighed downward pressure from a darkening outlook for the global economy.
Indian Oil seeks commissioning cargo for new Ennore LNG terminal: sources
SINGAPORE (Reuters) - Indian Oil Corp (IOC) is seeking a commissioning cargo for its new Ennore liquefied natural gas (LNG) terminal in south India, two industry sources said on Wednesday.
HDFC Q3 standalone net profit at Rs 2,114 cr
Housing finance major HDFC on Tuesday reported a standalone net profit of Rs 2,114 crore during the third quarter of 2018-19.
Bank of Baroda's Q3 standalone net profit up over 320%
State-run lender Bank of Baroda on Tuesday reported a robust rise of 320.54 per cent in its standalone net profit for the third quarter of 2018-19.
Cobrapost charges based on 'mischievous misadventure' with mala fide intent: DHFL
Housing finance company DHFL on Tuesday rejected allegations of siphoning off Rs 31,000 crore of public money as "mischievous misadventure" done with mala fide intent and said it had met all its obligations to the lenders and paid them back over Rs 17,000 crore in the last three months.
US dollar rebounds amid Brexit uncertainty
The US dollar bounced on Tuesday as the British pound extended losses against the greenback, after a much-anticipated amendment to postpone Brexit was rejected by the British Parliament.
US stocks close mixed amid earnings, economic data
US stocks closed mixed as investors digested a batch of corporate earnings reports and key economic data.
Much pressure on RBI to part with reserves ahead of elections
With the code of conduct for the upcoming general election likely to kick in during the period between late February and early March, intense pressure is being mounted on the RBI and its new Governor Shaktikanta Das to part with a portion of its profits to enable government spending on schemes that would, in turn, help garner voter support.