Page 1259 - Business Finance
Japan Nikkei falls on profit-taking, global economic concerns
The International Monetary Fund cut its forecast for the world economy, predicting it will grow at the weakest pace in three years in 2019 and warning fresh trade tensions would spell further trouble. In its second downgrade in three months, the lender blamed softening demand across Europe and recent palpitations in financial markets. It predicts global growth of 3.5% this year, beneath the 3.7% expected in October and the rate in 2018.
Global webcams market to reach USD 13.14 billion by 2026: Report
The global market for webcams is looking at hitting 10.9 per cent by 2026, a new report by ResearchAndMarkets.com has indicated.According to the 'Webcams - Global Market Outlook (2017-2026)' report the Global Webcams market accounted for USD 5.18 billion in 2017 and is expected to reach USD 13.14 billion by 2026 growing at a CAGR of 10.9 per cent during the forecast period.Moving away as an add-on accessory for computer systems, webcams are now synonymous with surveillance and security. The demand is also fuelled by the easier availability of broadband and internet connectivity; however poor internet connection in certain regions is hampering its growth.In terms of technology, Analog webcam is forecast to grow at a considerable rate. As per geography, Asia Pacific is likely to witness steady growth, with the rising acceptance of technological innovation from China by emerging countries.The key players in the market include Samsung, Creative Technology, Logitech, D-Link, Microsoft, ...
Huawei chairman says will seek swift resolution of detained executive
DAVOS, Switzerland (Reuters) - China's Huawei Technologies will call for a quick resolution of the case regarding its detained executive in Canada who is accused of violating U.S. sanctions on Iran, the company's chairman, Liang Hua, said on Tuesday.
Global Markets: IMF pessimism + trade tensions = sickly stocks
LONDON (Reuters) - Pessimism about global growth drove down world shares and commodity markets on Tuesday and left investors seeking refuge in the dollar, government bonds and gold.
Sebi fines 2 entities Rs 18 lakh for fraudulent trades
Markets regulator Sebi Tuesday imposed a total fine of Rs 18 lakh on two entities for executing reversal trades, leading to creation of artificial volume in illiquid stock options at BSE. The entities facing penalties are Orbit Financial Capital and one Vijay Singh Mundhra, according to two separate Sebi orders. Sebi had conducted an investigation into the trading activities of certain entities in stock options segment of BSE from April 2014 to September 2014. After the probe, the regulator found that the entities executed several reversal trades on same day with same counter party, which were not genuine in nature. The regulator said the trades executed by the entities were not genuine and created an appearance of artificial trading volumes in the stock options segment and thereby violated PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, which makes them liable for monetary penalty. Accordingly, the Securities and Exchange Board of India (Sebi) fined Orbit ...
Sadhguru releases new book with probing insight into life
Spiritual master Sadhguru has released a new book "Flowers on the Path", which is billed as a probing, passionate and provocative insight into life.
Metal stocks plunge over 4% on sluggish China growth data
Metal stocks Tuesday slipped over 4 per cent, mainly due to weak macro data as China reported slowest GDP growth in 28 years. The loss in the metal stocks was led by Jindal Steel and Power Ltd as it fell 4.53 per cent to end at Rs 137.90 on BSE. Vedanta Ltd shed 3.50 per cent to Rs 191.45, while Tata Steel lost 3.13 per cent to settle at Rs 456.80. Among others, Hindustan Zinc went down by 2.76 per cent to Rs 260.75 and JSW Steel ended 2.46 per cent lower at Rs 277.75. Shares of SAIL dropped 2.23 per cent to Rs 48.30 apiece and that of Hindalco Industries slid 1.88 per cent to close at Rs 203.15. Led by losses in these stocks, BSE Metal index ended 2.31 per cent lower at 10,791.98. China is the largest buyer of most base metals. "Metal prices have been weak owing to weak macro data as China reported slowest GDP growth since 1990. Also, IMF cut global GDP forecast by 20 basis points to 3.5 per cent amid downside risk due to trade war and no Brexit deal", MOFSL analyst Sanjay Jain said.
Chemetall to acquire the automotive paint detackification business of Polymer Ventures, Inc.
/ -- The Surface Treatment global business unit of the Coatings division of BASF, operating under the Chemetall brand, announces that it has reached a conclusive agreement to acquire the automotive paint detackification business of Polymer Ventures, Inc., including all of its shares of Galaxy Chemical Corporation. The paint detackification technology, is a process used to capture and neutralize paint overspray, and complements Chemetall's surface treatment products which are designed to optimally prepare metal surfaces for the painting process and ensure proper coating adhesion. The transaction culminates a long-standing partnership between the two organizations whose customer portfolios fully align. The purchase will provide customers with best-in-industry value: by streamlining the combined supply chain; enhancing service through the organizations' mutual commitment to meeting technical requirements with expanded in-field representation and industry specialists; new products through
India presses China to import more Indian products to reduce trade deficit
India on Tuesday pressed China to import more Indian goods, especially pharmaceutical and IT products, as top commerce officials of the two countries held talks in Beijing on the widening trade deficit, which last year crossed USD 57 billion. Commerce Secretary Anup Wadhawan also discussed the progress made under Regional Comprehensive Economic Partnership (RCEP) during his talks with Wang Shouwen, Vice Minister of China's Ministry of Commerce, the Indian Embassy here said in a press release. Wadhawan on Monday held talks with Zhang Jiwen, Vice Minister of General Administration of China Customs (GACC) which is responsible for examining market access and quarantine issues for India's agriculture and allied products. The two sides held a detailed discussion on the widening trade deficit, the press release said. The trade deficit in 2018, according to Chinese official data, climbed to USD 57.86 billion from USD 51.72 billion in 2017 in about USD 95.54 total bilateral trade. India's ...
Jharkhand CM tables Rs 85,429-crore deficit budget
Jharkhand Chief Minister Raghubar Das, who also holds the finance department, on Tuesday tabled a Rs 85,429-crore deficit budget for the state for 2019-20 in the state assembly.
Oil drops nearly two percent as China slowdown bites
LONDON (Reuters) - Oil prices fell nearly 2 percent on Tuesday on signs that an economic slowdown in China is spreading, stoking concerns about global growth and fuel demand.
Halliburton profit beats on higher international demand, N.America lags
(Reuters) - Halliburton Co beat Wall Street estimates for quarterly profit on Tuesday, as higher demand for its oilfield services in international markets offset a slowdown in North America.
Amarinder concerned at FCI withdrawal from food grain procurement
Expressing concern over the Food Corporation of India's gradual withdrawal from procurement of food grains in the state, Punjab Chief Minister Amarinder Singh has decided to raise the issue with the Centre and seek increase in the Central agency's procurement share.
Sun Pharma shares up 5 pc after co replaces domestic formulations distributor
Shares of Sun Pharmaceutical Industries Tuesday jumped up to 5 per cent after it replaced its domestic formulations distributor Aditya Medisales with an own subsidiary. The stock rose 4.95 per cent to end at Rs 418.05 on BSE. During intra-day trade, it surged as much as 6.12 per cent to Rs 422.75. Similarly, on NSE, the scrip advanced by 4.80 per cent to close at Rs 417.40. It had hit an intra-day high of Rs 423.50. Sun Pharma also emerged as the biggest gainer in the Sensex pack. "Sun Pharma's distribution related to India's domestic formulations business shall be transitioned from Aditya Medisales Ltd, the current distributor, to a wholly-owned subsidiary of Sun Pharma," the company said in a regulatory filing. Sun Pharma said this change will be made effective by first quarter of 2019-20, post receipt of all requisite regulatory approvals. The company also announced unwinding of a transaction amounting to Rs 2,238 crore with Atlas Global Trading and initiated steps to induct SRBC ..
German investor morale brightens, but view on current condition grim
BERLIN (Reuters) - Morale among German investors improved slightly in January, but their assessment of the economy's current condition deteriorated to a four-year low, a survey showed on Tuesday, sending mixed signals for the growth outlook of Europe's largest economy.
Gold bounces back as global growth worries weigh on stocks
(Reuters) - Gold bounced back on Tuesday from multi-week lows touched in the previous session as mounting concerns of an economic slowdown exacerbated by a cut in the International Monetary Fund's global growth forecast drove investors to the safety of bullion.
Johnson & Johnson quarterly sales beat expectations
(Reuters) - Johnson & Johnson reported better-than-expected fourth-quarter revenue on Tuesday, helped by strong demand for its drugs to treat cancer and psoriasis.
Halliburton posts fourth-quarter profit compared with year-ago loss
(Reuters) - Oilfield services provider Halliburton Co reported a quarterly profit on Tuesday, compared with a loss for the same period a year ago when it set aside $1.05 billion for income tax payments related to a change in U.S. taxes.
TVS Motor shares rise 3% after impressive Q3 numbers
Shares of TVS Motor Company Tuesday rose 3 per cent after it reported 15.57 per cent on year increase in standalone net profit at Rs 178.39 crore for the third quarter ended December 31, 2018. The stock gained 4.06 per cent to Rs 559.90 during the day and finally settled 2.94 per cent higher at Rs 553.85 on BSE. At the NSE, the scrip climbed 3.11 per cent to Rs 555. During the day, it was trading at a high of Rs 560.95, up 4.21 per cent. In terms of equity volume, 6.98 lakh shares were traded on BSE, while over one crore scrips changed hands on NSE. The company had posted a net profit of Rs 154.35 crore in the year-ago quarter. During the reported three-month period, revenue from operations stood at Rs 4,663.98 crore, up 26.09 per cent as against Rs 3,698.67 crore in the year-ago quarter. The Chennai-based company's total exports increased 25.8 per cent to 1.77 lakh units during the reported quarter from 1.40 lakh units in the year-ago period.
Zensar Technologies shares drop over 5% post quarterly result
Shares of Zensar Technologies Tuesday plunged over 5 per cent after the firm reported a 6 per cent decline in consolidated net profit for the October-December quarter. The stock tumbled 4.93 per cent to close at Rs 221.60 on BSE. Intra-day, shares of the firm dropped 6.02 per cent to a low of Rs 219.05. At the National Stock Exchange (NSE), Zensar settled down 5.68 per cent at Rs 220.75. During the session, it hit a low of Rs 219.80, down 6.08 per cent over the last close. On the volume front, more than 1.7 lakh shares were traded on bourses during the day. The mid-sized software services firm posted a consolidated net profit of Rs 56.51 crore for October-December 2018 against that of Rs 60.17 crore in the year-ago quarter. The net profit dropped due to foreign exchange losses and lower operating margins as several of the deals won were currently in transition, Zensar Technologies Chief Executive Officer and Managing Director Sandeep Kishore said Monday. Its revenue from operations ...