Page 2530 - Business Finance
Crude palm oil futures gain 0.55% on firm demand
Crude palm oil prices went up by 0.55 per cent to Rs 599.40 per 10 kg in futures trade Monday as speculators widened their positions amid firm demand at the spot market. Besides, a positive trend in overseas markets also supported the upmove. At the Multi Commodity Exchange, crude palm oil for this month's contract rose by Rs 3.30, or 0.55 per cent, to Rs 599.40 per 10 kg in a business turnover of 210 lots. Similarly, the oil for delivery in the October contract went up by Rs 3.10, or 0.52 per cent, to Rs 602.20 per 10 kg in 129 lots. Analysts said widening of positions by participants amid pick up in spot demand against tight stock position on restricted supplies from overseas markets kept crude palm oil prices higher.
Lead futures soften by 0.24% on weak spot cues
Lead prices drifted lower by 0.24 per cent to Rs 147.30 per kg in futures trade Monday as speculators trimmed their positions, taking negative cues from spot market on subdued demand. At the Multi Commodity Exchange, lead for delivery in October declined by 35 paise, or 0.24 per cent, to Rs 147.30 per kg in business turnover of 5 lots. Similarly, the metal for delivery in September contracts shed 15 paise, or 0.10 per cent, to Rs 146.35 per kg in 360 lots. Marketmen said offloading of positions by traders owing to slackened demand from battery makers in the physical market, mainly influenced lead prices at futures trade.
Wheat futures gain 0.39% on speculative buying
Wheat prices were higher by 0.39 per cent to Rs 2,060 per quintal in futures market Monday as speculators built up fresh positions. At the National Commodity and Derivatives Exchange, wheat for delivery in October was trading higher by Rs 8, or 0.39 per cent, to Rs 2,060 per quintal with an open interest in 2,780 lots. Analysts said fresh positions created by traders after improved demand in the physical market amid a pause in arrivals from producing belts, helped wheat prices to trade higher in futures trade.
Nickel futures rise 0.21 pc on pick-up in demand
Nickel prices edged up by 0.21 per cent to Rs 900.50 per kg in futures trade Monday as speculators widened positions, supported by pick-up in demand at the domestic spot markets. At the Multi Commodity Exchange, nickel for delivery in October was trading up by Rs 1.90, or 0.21 per cent, to Rs 900.500 per kg in a business turnover of six lots. Similarly, the metal for delivery this month rose by Rs 1.60, or 0.18 per cent, to Rs 895.50 per kg in 408 lots. Analysts said raising of bets by participants following an uptick in demand from alloy-makers at domestic spot markets, supported the upside in nickel prices in futures trade.
Zinc futures edge up 0.30% spot demand
Zinc prices edged higher by 0.30 per cent to Rs 166.80 per kg in futures trade Monday as speculators created fresh positions, taking positive cues from the spot market on uptick in demand. At the Multi Commodity Exchange, zinc for delivery in September edged up by 50 paise, or 0.30 per cent, to Rs 166.80 per kg in a business turnover of 446 lots. Likewise, the metal for delivery in October contracts was trading higher by 40 paise, or 0.24 per cent, to Rs 168 per kg in 12 lots. Analysts said fresh positions built up by participants due to improved demand from consuming industries in the physical markets mainly influenced zinc prices at futures trade.
Swiss regulator raps Credit Suisse for anti-corruption failings
ZURICH (Reuters) - Credit Suisse will be overseen by an independent monitor after failing in its duty to combat corruption in cases linked to soccer body FIFA and Venezuelan and Brazilian state oil companies, Swiss finance industry watchdog FINMA said on Monday.
Britain's lasting scars from the financial crisis
LONDON (Reuters) - Ten years after the financial crash that hit Western countries 10 years ago, triggering recessions, many of the scars on Britain's economy have yet to heal - despite more than eight years of growth, and employment levels that have regularly hit record highs.
Karnataka slashes petrol, diesel prices by Rs. 2
The Karnataka Government on Monday announced a reduction in petrol and diesel price by Rs. 2 each.Karnataka Chief Minister HD Kumaraswamy said, "Today, we are taking a decision that we are going to reduce Rs. 2 on both petrol and diesel".Earlier on September 10, Karnataka's neighbouring state, Andhra Pradesh also slashed the prices of petrol and diesel by Rs. 2.Following Andhra Pradesh's footsteps, West Bengal Chief Minister Mamata Banerjee also decided to cut down cess on petrol and diesel prices in the state on September 11, thereby reducing the fuel prices by Re 1 per litre.On September 9, Rajasthan Government issued orders for reduction of Value Added Tax (VAT) on petrol and diesel by four percent, thus reducing the prices of both petroleum products by Rs. 2.5.Fuel prices have been skyrocketing since the past few days and it once again witnessed a hike on Monday morning. In New Delhi, the price of petrol rose to Rs. 82.06 per litre (increased by Rs 0.15 per litre), while the price
Aluminium futures slip 0.41% on muted demand
Aluminium prices softened by 0.41 per cent to Rs 145.90 per kg in futures trading Monday as speculators cut down bets amid subdued demand at domestic spot market. At the Multi Commodity Exchange, aluminium for delivery in October declined by 60 paise, or 0.41 per cent, to Rs 145.90 per kg in business turnover of four lots. Similarly, the metal for delivery in September contracts shed 55 paise, or 0.38 per cent, to Rs 144.45 per kg in 226 lots. Analysts said offloading of positions by participants due to easing demand from consuming industries in the physical market and a weak trend overseas where base metals prices fell sharply on reports that US tariffs on USD 200 billion of Chinese goods could be imposed immediately, raising fears that demand for industrial metals will soften, weighed on aluminium prices at futures trade.
Silver prices up 0.42 pc on positive overseas trend
Silver futures rose by Rs 157 Rs 37,150 per kg Monday as the white metal gained in the global markets. The December contract of the metal rose by Rs 157, or 0.42 per cent, to Rs 37,150 per kg in a business turnover of 290 lots at the Multi Commodity Exchange. The white metal for delivery in March next year was trading higher by Rs 152, or 0.40 per cent, to Rs 37,942 per kg in one lot. Marketmen said speculative buying driven by firm global trend led to a rise in silver prices at futures trade here. Silver was trading 0.21 per cent higher at USD 14.06 an ounce in Singapore.
Hyderabad sees 26% rise in housing prices since 2013: ANAROCK report
Housing prices in Hyderabad rose have increased by 26 per cent since 2013 despite weak investor sentiments and agitation for Telangana, according to property consultant ANAROCK. "Hyderabad, a densely populated city and a major IT/ITeS hub, is fast transforming into a mega-city with high liveability index. Furthermore, the city enjoys the benefit of a circular development due to the outer ring road which helps in multi-directional growth," ANAROCK Chairman Anuj Puri said in the city report. Post state bifurcation in 2014, he said the political stability has given Hyderabad an upper edge as the government's key focus is on infrastructure development. "Factors like an online clearance system for new projects approval, large-scale support from the state government for young entrepreneurs, low cost of living, good quality of life, abundant land availability, large talent pool and decent infrastructure make Hyderabad one of the most sought-after cities in the country," he added. According ..
Gold futures rise 0.56 pc on firm global cues
Gold prices rose by Rs 173 to Rs 30,600 per ten gram in futures trade Monday as speculators raised their bets amid a firming trend overseas. At the Multi Commodity Exchange, gold for delivery in December was trading higher by Rs 173, or 0.56 per cent, at Rs 30,830 per ten gram in a business turnover of 23 lots. The yellow metal for delivery in October too gained Rs 164 or 0.54 per cent to Rs 30,600 per ten gram in 318 lots. Market analysts attributed the rise in gold prices at futures trade to raising of bets in sync with a firm trend in global markets. Meanwhile, gold was trading a shade higher by 0.09 per cent at USD 1,194.20 an ounce in Singapore.
Volumes soar at Entertainment Network (India) Ltd counter
Entertainment Network (India) Ltd clocked volume of 2 lakh shares by 10:48 IST on BSE, a 652.69 times surge over two-week average daily volume of 307 shares
Mindtree partners with IIT Madras
To establish an endowed faculty fellow position in Data Science and AI
Australia's AMP charged life insurance premiums to dead clients: inquiry
SYDNEY (Reuters) - Australia's biggest listed wealth manager AMP Ltd charged life insurance premiums to dead customers even after concerns over the practice were raised by a staff member, a powerful misconduct inquiry heard on Monday.
Global Markets: Asian shares slugged by new U.S. tariff threat
SYDNEY (Reuters) - Most Asian share markets slid on Monday amid reports Washington was about to announce a new round of tariffs on Chinese imports, setting the stage for possible reprisals by Beijing.
Weak market breadth
Key benchmark indices extended early losses and hit fresh intraday low in morning trade. At 10:34 IST, the barometer index, the S&P BSE Sensex, was down 419.10 points or 1.10% at 37,671.54. The Nifty 50 index was down 123.45 points or 1.07% at 11,391.75.
Spot demand lifts copper futures by 0.31 pc
Copper futures traded 0.31 per cent higher at Rs 425.25 per kg Monday as speculators increased bets amid rising spot demand. However, a weak trend overseas caped the gains. In futures trade, copper for delivery in November rose by Rs 1.30, or 0.31 per cent, at Rs 425.25 per kg in a business turnover of 652 lots at the Multi Commodity Exchange. Similarly, the metal for delivery in far-month February edged up by Rs 1.10, or 0.26 per cent, to Rs 431 per kg in 7 lots. Analysts said raising of bets by participants following increasing demand from domestic consuming industries, influenced copper futures here. Globally, copper was delivery in three months at the London Metal Exchange (LME) was down 1.9 per cent at USD 5,861 per tonne on reports that US tariffs on USD 200 billion of Chinese goods could be imposed immediately, raising fears that demand for industrial metals will soften.
Odisha gets first 'Tribes India' outlet
Odisha's first "Tribes India" outlet has been opened in Bhubaneswar under the Van Dhan scheme of Tribal Cooperation Marketing Development Federation of India (TRIFED), which comes under the Ministry of Tribal Affairs.Various products, including metal sculptures, handicrafts, handloom, jewellery and various home furnishings items made by tribal artisans from across the country are available at the outlet.Jual Oram, Tribal Affairs Minister, who inaugurated the showroom, said that the outlet would provide market linkage to tribal artisans for sale of their products apart from providing exposure to the community.Ajodhya Prasad Das, an employee said, "At this exhibition, we display unique handicrafts made by tribal communities of India. Dongria Kondh's shawl, Chattisgarh Dhokra's Dhokra items also known as bell metals and Worli paintings made by the tribals from Maharashtra are few of the items on display here.""We collect the handicrafts from the artists and give them a platform to market
Time magazine sold to Salesforce co-founder Marc Benioff
Meredith Corp. is selling Time magazine for 190 million USD in cash to Marc Benioff, co-founder of Salesforce and his wife.The Benioffs are purchasing Time personally, and the transaction is unrelated to Salesforce.com, where Benioff is chairman, co-CEO and co-founder, reported ABC News.As per the announcement by Meredith, the Benioffs will not be involved in the daily operations or journalistic decisions at Time and the current executive leadership team of the magazine will continue to take care of these.Meredith president and CEO, Tom Harty, in a statement said, "We're pleased to have found such passionate buyers in Marc and Lynne Benioff for the Time brand. For over 90 years, Time has been at the forefront of the most significant events and impactful stories that shape our global conversation."The prospective sale is expected to close within 30 days.In an interview with The Wall Street Journal, Benioff said he and his wife were investing "in a company with tremendous impact on the .