Page 1304 - Business Finance
Japan finance minister urges G20 to renew commitment against protectionism
TOKYO (Reuters) - Japanese Finance Minister Taro Aso on Thursday urged the Group of 20 major economies to renew their commitment to cooperation in the face of rising protectionism.
SBI says Jet's lenders discussing airline's restructuring plan
BENGALURU/MUMBAI (Reuters) - State Bank of India (SBI) on Thursday said lenders to Jet Airways Ltd are considering a plan toward resolving the airline's debt woes, amid increasing prospects of a bailout by major shareholder Etihad Airways.
SocGen says will take a hit from tough market conditions
PARIS (Reuters) - French bank Societe Generale said its fourth-quarter results would be affected by tough market conditions and the impact of some asset sales, as lenders around the world grapple with financial market volatility.
China's top trade negotiator to visit US Jan 30-31
China's top trade negotiator will travel to the United States to resume talks later this month ahead of a March deadline to avoid bruising tariff hikes, the commerce ministry said Thursday. Vice Premier Liu He will visit Washington on January 30-31 for the negotiations, the ministry said, following up on talks by lower-level officials in Beijing earlier this month. US President Donald Trump and Chinese leader Xi Jinping agreed to a three-month trade war truce in December, suspending US plans to increase tariffs on billions of dollars in Chinese goods to give negotiators space to find a solution. Liu and US officials will "hold negotiations on economic and trade issues and work together to push forward and implement the consensus" reached by Xi and Trump, ministry spokesman Gao Feng told reporters. China's senior negotiator will travel at the invitation of US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer, Gao said. Without a resolution, punitive US ...
Jet Airways shares fall further; plunge over 5%
Shares of Jet Airways fell for the second straight session Thursday, plunging over 5 per cent, amid continued uncertainty over the revival plan of the company. The scrip declined 5.31 per cent to Rs 256.60 on BSE. On NSE, shares of the company slumped 4.93 per cent to Rs 256.40. The stock has been falling since Wednesday and, in the process, its market valuation has been eroded by Rs 365.48 crore in two days on BSE. Jet Airways' shares slumped nearly 8 per cent on Wednesday too. The airline's Chairman Naresh Goyal has told the State Bank of India (SBI) that he is ready to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25 per cent. Goyal's offer comes against the backdrop of strategic partner Etihad reportedly putting forward strict conditions, including that Goyal should give up control, for infusing funds into the crisis-hit carrier. In a letter to SBI Chairman Rajnish Kumar, Goyal said he is writing with reference to the resolution plan .
ECB hawk Lautenschlaeger has not given up on 2019 rate hike: Politico
BERLIN (Reuters) - A recent dip in euro zone inflation and growth was anticipated so it is not enough to unravel expectations of an interest rate hike, Sabine Lautenschlaeger, the most prominent hawk on the ECB Executive Board, said in an interview with Politico.
Sensex turns red, banking stocks fall out of favour
Reversing early gains, major indices traded lower during Thursday afternoon's trade session. The benchmark Sensex declined over 60 points while the Nifty slipped below the 10,900-mark.
Rajasthan guv Kalyan Singh critical of Vasundhara Raje govt
Rajasthan Governor Kalyan Singh was critical of the former BJP government in the state on Thursday, saying it got distracted in finding flaws in the Congress-led regime before it. The governor, who was addressing the first assembly session after the new Congress government led by Ashok Gehlot took power, cited the Vasundhara Raje government's economic record to make his point. "As a result of it (its distraction), the annual average economic growth rate, which was 8.16 per cent in 2009-10 to 2013-14 reduced to 7.19 per cent in 2014-15 to 2017-18. Average increase in per capita income was 14.95 per cent from 2009-10 to 2013-14 but it reduced to 9.68 per cent during 2014-15 to 2017-18," he said in his address, which was tabled in the house. Similarly, growth rate in the agriculture sector which was 4.19 per cent in 2008-09 increased to 8.94 per cent in 2013-14. However, due to wrong policies taken by the previous government, the growth rate in the agriculture sector dropped to 3.95 per .
Canara Bank slips for fifth straight session
Canara Bank is quoting at Rs 270.8, down 1.65% on the day as on 13:24 IST on the NSE. The stock tumbled 22.47% in last one year as compared to a 0.52% rally in NIFTY and a 14.6% fall in the Nifty PSU Bank index.
Market breadth turns negative
Stocks sink in negative zone in afternoon trade. At 13:27 IST, the barometer index, the S&P BSE Sensex, was down 50.58 points or 0.14% at 36,270.71. The Nifty 50 index was down 16.30 points or 0.15% at 10,874.
Palladium scales new peak on supply deficit; gold steady
BENGALURU (Reuters) - Palladium rose to a record high on Thursday on lower supply concerns and rising demand for the metal used in auto catalysts, while gold held steady as a firmer dollar offset expectations of a pause in U.S. rate hikes.
Crude oil futures gain 0.48 pc on firm domestic cues
Crude oil gained 0.48 per cent to Rs 3,742 per barrel in futures trade Thursday even as speculators remained cautious amid weak global cues. In domestic market, widening of bets at current levels helped crude oil prices. At the Multi Commodity Exchange, crude oil for delivery in February gained Rs 18, or 0.48 per cent, to Rs 3,742 per barrel with a business turnover of 3,078 lots. On similar lines, crude for delivery in March firmed up by Rs 20, or 0.53 per cent, to Rs 3,785 per barrel in 68 lots. Analysts said trading sentiments remained muted as participants booked profits when oil prices fell in overseas market. Globally, the US benchmark West Texas Intermediate was down by USD 1.24, or 0.75 per cent, to USD 51.92 and Brent crude fell USD 1.48, or 0.60 per cent, to USD 60.95 a barrel.
TSMC flags steepest revenue fall in a decade on smartphone slowdown
TAIPEI (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC) forecast a nearly 14 percent drop in first-quarter revenue, its sharpest fall in a decade, joining a string of tech companies warning of a slowdown in global smartphone demand.
Oil prices slip as U.S. crude output nears 12 million bpd
SINGAPORE (Reuters) - Oil prices fell on Thursday as U.S. crude production neared an unprecedented 12 million barrels per day (bpd) just as worries about weakening demand emerge.
Board of AGC Networks approves change in directorate
At meeting held on 17 January 2019
Tata Consultancy Services Ltd spurts 1.11%
Tata Consultancy Services Ltd is quoting at Rs 1890.95, up 1.11% on the day as on 12:54 IST on the NSE. The stock is up 29.6% in last one year as compared to a 0.73% spurt in NIFTY and a 17.63% spurt in the Nifty IT index.
Bharat Petroleum Corporation Ltd soars 1.4%, up for third straight session
Bharat Petroleum Corporation Ltd is quoting at Rs 352.1, up 1.4% on the day as on 12:54 IST on the NSE. The stock is down 25.12% in last one year as compared to a 0.73% gain in NIFTY and a 2% gain in the Nifty Energy index.
Biocon Ltd rises for fifth straight session
Biocon Ltd is quoting at Rs 652.4, up 0.26% on the day as on 12:49 IST on the NSE. The stock is up 20.9% in last one year as compared to a 0.72% spurt in NIFTY and a 6.09% spurt in the Nifty Pharma.
Indian Oil Corporation Ltd spurts 1.55%, gains for fifth straight session
Indian Oil Corporation Ltd is quoting at Rs 137.9, up 1.55% on the day as on 12:49 IST on the NSE. The stock is down 27.05% in last one year as compared to a 0.72% jump in NIFTY and a 2.01% jump in the Nifty Energy.
Booming Qatar-Turkey trade to hit $2 billion for 2018 as Gulf rift drags on
DOHA (Reuters) - Trade between Qatar and Turkey is expected to have hit $2 billion in 2018, a Turkish official said, up 54 percent from the previous last year and underscoring Ankara's solidified role as a top ally to Qatar amid a political rift in the Gulf region.