Page 1620 - Business Finance
HCL to buy some IBM software assets for $1.8 billion; shares fall
(Reuters) - Indian software services firm HCL Technologies agreed to buy some software assets from International Business Machines Corp for $1.80 billion to help it compete better with bigger rivals such as TCS and Infosys Ltd.
Mixed finish for US stocks
Stocks manage to recover from session lows
Global Markets: Asia shares struggle to rally, oil skids further
SYDNEY (Reuters) - Asian shares fought to sustain the slimmest of recoveries on Friday amid speculation the Federal Reserve might be "one-and-done" with U.S. rate hikes, while oil fell anew as producers bickered over the details of an output cut.
SEBI in talks with industry on mutual funds norms
MUMBAI (Reuters) - India's market regulator is in talks with industry to deal with fears of contagion effect on mutual funds due to a liquidity crisis faced by the country's non-banking finance companies (NBFC), its chief said on Friday.
There is an urgent need to improve the credit flow to the real economy: FICCI
"Credit availability will certainly give more confidence. RBI should cut CRR and interest rate, and release more liquidity, along with other supporting measures like reduction in the risk weightage for MSME and affordable housing loans to enhance credit flow," he added.
Government of India aims to increase the share of the manufacturing sector to the gross domestic product (GDP) to 25 per cent by 2022
Speaking at the 'India - Korea Technology & Education Exchange Forum' organised by FICCI jointly with Korea India Business Centre (KIBC) and Korea Productivity Center (KPC), Mr Bhal said that India has moved from an agrarian economy to service dominated one. The manufacturing sector has lagged and the time is opportune to give primacy to this sector. "India is not a very strong manufacturing nation and only contributes to 16 per cent of our GDP which is not very good," he added.
REC, PFC turn volatile after cabinet OKs REC takeover by PFC
Shares of Rural Electrification Corporation rose 1.01%, while Power Finance Corporation fell 0.17% at 11:46 IST on BSE after cabinet approved sale of government's stake in Rural Electrification Corporation to Power Finance Corporation.
China's Huawei appoints chairman as acting CFO after executive's arrest
HONG KONG (Reuters) - China's Huawei Technologies has appointed Chairman Liang Hua as acting chief financial officer (CFO) following the arrest in Canada of its CFO, who faces extradition to the United States, staff briefed on an internal memo told Reuters.
Jaguar Land Rover sales volume dip 8% in November
Retail sales were up significantly in North America (18.1%) due to strong sales of Range Rover models in Jaguar Land Rover's best ever November sales results in the market. Sales were also 5.6% higher in Europe and up 3.2% in the UK.
China's WuXi AppTec raises $1 billion in HK listing - sources
HONG KONG (Reuters) - Chinese medical tech platform WuXi AppTec raised $1.01 billion in its Hong Kong listing, sources said, valuing the company at $10.2 billion in a deal that marks one of this year's last big stock offerings in the Asian financial hub.
US trade deficit hits 10-year high
US trade deficit widened for a fifth consecutive month and reached a 10-year high in October, according to data from the Commerce Department.
Zydus Wellness gains on plans to raise funds
Zydus Wellness rose 0.84% to Rs 1248.50 at 10:43 IST on BSE after the company said it is planning to raise Rs 2,574.99 crore through issue of shares on a preferential basis.
Japan govt to shun Huawei, ZTE equipment - sources
TOKYO (Reuters) - Japan plans to ban government purchases of equipment from China's Huawei Technologies Co Ltd and ZTE Corp to beef up its defences against intelligence leaks and cyber attacks, sources told Reuters.
Hong Kong Hang Seng recoups ground
The rebound was partly attributed to reports that Federal Reserve officials are considering a "wait-and-see mentality" after a likely interest rate hike later this month. Traders also went bargain hunting following the early sell-off.
China Market trades firmer
ECONOMIC NEWS: China's State Council said that the government will offer financial help to struggling firms that keep staff on payrolls in a time of increasing economic headwinds. For firms that choose not to cut staff or reduce the number of job cuts they are planning next year, the government will return half of their unemployment insurance fees, the State Council, or Cabinet, said in a statement on its website Wednesday. The government also said that high attention should be paid to the impact on employment from increasing economic downward pressure. The government will also provide subsidies to out-of-job workers who are undergoing job training, the State Council added.
Japan Nikkei jumps 0.6% on bargain hunting
The bargain buying move came after sharp declines in Asian equities on Thursday led to a broader global sell-off after the arrest in Canada of Meng Wanzhou, who is also the daughter of Huawei founder Ren Zhengfei, fuelled worries over whether the trade war dente, struck by US President Donald Trump and China's President Xi Jinping just days earlier, will last.
Australia Stocks rise for first time in four sessions
Shares of banks and financial stocks were higher. Commonwealth Bank had the strongest rise of the big four lenders, up 1.2% to A$70.49, and ANZ the least, rising 0.7% to A$25.86. Macquarie Group climbed two% to A$114.30.
Ind Bank Housing announces resignation of director
On 05 December 2018
Trigyn Technologies gets extension for UN Contract
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Rupee rises 46 paise to 70.44 against US dollar in early trade
The rupee appreciated by 46 paise to 70.44 against the US dollar in early trade Friday at the interbank foreign exchange, amid weakness in the greenback against some currencies overseas and a higher opening of domestic equities. Forex traders said, increased selling of the American currency by exporters and banks and sustained foreign fund inflows also supported the domestic currency. At the interbank forex market, the rupee opened higher at 70.58 and rose further to quote at 70.44, showing a rise of 46 paise over its previous close. On Thursday, the rupee fell by 44 paise against the dollar to close at 70.90. The local unit also gathered momentum following easing crude oil prices. Globally, Brent crude, the international benchmark, was trading 0.53 per cent down at USD 59.74 per barrel. Meanwhile, on net basis, foreign funds bought shares worth Rs 72.47 crore, while DIIs sold share to the tune of Rs 389.78 crore Thursday, provisional data showed. The 30-share index rose 157.23 ...