Page 1547 - Business Finance
Board of White Organic Agro approves bonus issue of 1:1
At meeting held on 17 December 2018
Govt's intense pressure on RBI could undermine India's long-term financial stability: S&P
Indian government's "sustained and intense" pressure on the RBI could "undermine" the hard-fought improvements in the banking system over the past few years as well as the long-term financial stability in the country, S&P Global Ratings warned on Monday. In particular, S&P Global Ratings views as credit negative the circumstances leading to the recent resignation of RBI Governor Urjit Patel. "We await any changes to banking system regulation at the next RBI board meeting in January 2019, said the agency, days after Patel resigned as Governor of Reserve Bank of India (RBI) amid talk of a face-off with the government over autonomy and independence of the central bank. At this time, it sees no material change in the central bank's level of independence, especially with regards to its adoption and implementation of prudent policy. "The RBI has traditionally shown greater independence than many regional peers, and a robust institutional culture. But sustained and intense external ..
Oil steady but oversupply, economic growth weigh
LONDON (Reuters) - Oil prices steadied on Monday after slipping by around 2 percent last week, but remained under pressure from oversupply and concern over the prospects for global economic growth and fuel demand.
H&M quarterly sales rise but doubts about turnaround weigh
STOCKHOLM (Reuters) - H&M reported on Monday sales growth in the three months to November but doubts about the strength of recovery at the world's second-biggest fashion group sent its shares down.
Zinc futures climb 0.14% on rising demand
Zinc prices rose by 0.14 per cent to Rs 183.65 per kg in futures market Monday after speculators raised their bets, driven by rising demand at the spot market. At the Multi Commodity Exchange, zinc for delivery in December was trading by 0.25 paise, or 0.14 per cent, to Rs 183.65 per kg in business turnover of 3,927 lots. Likewise, the metal for delivery in January contracts was trading higher by 0.15 paise, or 0.08 per cent, to Rs 183.10 per kg in 516 lots. Analysts said expanding of positions by participants on the back of soaring demand from consuming industries in the spot market mainly attributed the rise in zinc prices in futures trade.
Aluminium futures slip 0.44 % on weak spot cues
Aluminium prices fell by 0.44 per cent to Rs 137 per kg in futures market Monday as speculators cut their positions, taking negative cues from the spot market on muted demand. At the Multi Commodity Exchange, aluminium for delivery in December declined by 0.60 paise, or 0.44 per cent, to Rs 137 per kg in a business turnover of 3682 lots. Likewise, the metal for delivery in January contracts, too, dipped by 0.75 paise, or 0.54 per cent, to Rs 137.50 per kg in 1540 lots. Analysts said cutting down of positions by traders owing to slackened demand from consuming industries in the physical market weighed on aluminium prices in futures trade.
Miner NMDC challenges Karnataka's demand for higher iron ore revenue
NEW DELHI (Reuters) - India's biggest iron ore miner NMDC Ltd on Monday sued Karnataka to block demands for a bigger share of revenue from the sale of iron ore from a local mine, said a senior state-level official.
Kwality Ltd leads losers in 'A' group
Vakrangee Ltd, Jet Airways (India) Ltd, Reliance Naval & Engineering Ltd and Kalpataru Power Transmission Ltd are among the other losers in the BSE's 'A' group today, 17 December 2018.
Malaysia charges Goldman Sachs over 1MDB scam
Malaysian authorities on Monday filed criminal charges against Goldman Sachs bank and two former employees in connection with the 1MDB state investment fund scandal.
Arihant Foundations & Housing Ltd leads losers in 'B' group
Rohit Ferro Tech Ltd, Asian Star Company Ltd, Landmark Property Development Company Ltd and Nagarjuna Oil Refinery Ltd are among the other losers in the BSE's 'B' group today, 17 December 2018.
Volumes jump at D B Corp Ltd counter
D B Corp Ltd saw volume of 8.69 lakh shares by 14:14 IST on NSE, a 15.67 fold spurt over two-week average daily volume of 55474 shares
As trade war bites, China advisers recommend lowering 2019 growth target
BEIJING (Reuters) - China should lower next year's growth target to 6.0-6.5 percent as headwinds including a trade dispute with the United States increases risks for the economy, according to government advisers' recommendations to top leaders who will meet to map out the 2019 economic agenda.
Kim Jong-un marks father's death anniversary
North Korean leader Kim Jong-un on Monday visited the Kumsusan Palace of the Sun, his family mausoleum, to mark the seventh death anniversary of his father Kim Jong-il, according to state media.
Hitachi to buy majority stake in ABB's power grid arm for $6.4 bn
Japan's Hitachi on Monday announced plans to buy a majority stake in the power grid business of Swiss-Swedish engineering giant ABB for USD 6.4 billion, in what would be its biggest ever buyout. The deal would make Hitachi the world's largest power grid company, local media said. Under the plan, ABB will spin off its power grid unit, for which Hitachi will buy an 80.1 per cent stake for 704 billion yen in early 2020, the Japanese company said in a statement. "We plan to buy the remaining shares so that Hitachi can make the unit its wholly owned company," a spokesman said without disclosing, how much that would cost. ABB's power grid unit makes and operates infrastructure including power transmission equipment and control systems in numerous countries. The deal would also make Hitachi the world's second-largest heavy electrical equipment maker by revenue, behind only General Electric, according to local media. The Nikkei business daily first reported the planned deal last Thursday, ...
Malaysia files charges against Goldman over 1MDB scandal
Malaysia on Monday filed criminal charges against Wall Street titan Goldman Sachs and two of its former employees over the scandal surrounding state fund 1MDB, authorities said. Charges were filed against subsidiaries of Goldman Sachs and former employees Tim Leissner and Ng Chong Hwa, said a statement from Malaysia's attorney-general Tommy Thomas. Low Taek Jho, a Malaysian financier who allegedly masterminded the theft of billions of dollars from the sovereign wealth fund that was used to buy everything from yachts to artwork, was also hit with new charges over the scandal. Allegations that huge sums were looted from the fund in an audacious fraud that involved former Malaysian leader Najib Razak and his cronies played a huge role in the last government's defeat at elections in May. Goldman underwrote bonds issued by 1MDB on three occasions totalling $6.5 billion, and earned $600 million in fees for the bond issue. Monday's charges related to the bond issues, which took place in 2012
IHH Healthcare halts open offer for Fortis after Supreme Court ruling
(Reuters) - Malaysia's IHH Healthcare Bhd said on Monday its open offer to buy an additional 26 percent stake in Fortis Healthcare Ltd will not proceed as per the timeline following a court ruling.
Jeera futures up 0.41% on rising domestic demand
Jeera prices increased by Rs 75, or 0.41 per cent, to Rs 18,445 per quintal in futures trade Monday on higher bets, tracking a firm trend at the spot market in the wake of rising domestic demand. Further, tight stocks following restricted arrivals from the growing regions fuelled the uptrend. At the National Commodity and Derivatives Exchange, jeera for delivery in January rose Rs 75, or 0.41 per cent, to Rs 18,445 per quintal with an opening interest of 3,615 lots. On similar lines, the rate for March was trading higher at Rs 17,570, up by 0.34 per cent, or Rs 60 per quintal with an opening interest of 864 lots. Analysts said the rise in jeera prices was supported by increased buying by retailers and stockists at the spot market amid restricted supplies from producing regions.
ABB relents to activist shareholder and unloads Power Grids unit
TOKYO/ZURICH (Reuters) - ABB will sell a majority stake in its Power Grids division to Japan's Hitachi and return the proceeds to shareholders, bowing to pressure from an activist investor to sell the business that makes transformers and converters.
Firm dollar weighs on gold amid global growth risks
BENGALURU (Reuters) - Gold prices inched lower on Monday as the dollar held firm below a 19-month peak on safe-haven demand amid concerns of a global economic slowdown, and as investors awaited cues on U.S. interest rate hikes from a Federal Reserve meeting this week.
Nalco in expansion mode, to invest 45K cr in new and existing projects: CMD
Buoyed by increasing domestic demand on the back of infrastructural development, state-run National Aluminium Company Ltd (Nalco) plans to embark upon a Rs 25,000 crore brownfield and Rs 20,000 crore greenfield expansion in the next few years, its Chairman and Managing Director T.K. Chand said, adding this should eventually improve the bottomline by Rs 1,100 crore.