Page 2545 - Business Finance
Indonesia's trade deficit seen shrinking, though imports still high: Reuters Poll
JAKARTA (Reuters) - Indonesia's trade balance is expected to stay in the red in August although the size of the deficit may have narrowed, a Reuters poll showed on Friday.
WPI inflation drops to 4-month low of 4.53 pc in Aug
Inflation based on wholesale prices eased to a four-month low of 4.53 per cent in August on softening of prices of food articles, especially vegetables. The Wholesale Price Index (WPI) based inflation stood at 5.09 per cent in July and 3.24 per cent in August last year. According to the government data released Friday, food articles registered deflation at 4.04 per cent in August 2018. Last month, deflation in this category was 2.16 per cent. Deflation in vegetables was 20.18 per cent in August, as against 14.07 per cent in the previous month. Deflationary trend in food articles offset the double-digit inflation in 'fuel and power' basket in August. Inflation in this category was 17.73 per cent as prices of domestic fuel increased during the month, in line with high global crude oil rates. While inflation in liquefied petroleum gas (LPG) was 46.08 per cent, in diesel and petrol it was 19.90 per cent and 16.30 per cent, respectively, during August. Among food articles, potato inflation
Benchmarks turn range bound
The market traded in narrow range near day's high in early afternoon trade. At 12:15 IST, the barometer index, the S&P BSE Sensex, was up 219.03 points or 0.58% at 37,936.99. The Nifty 50 index was up 84.40 points or 0.74% at 11,454.30. Positive leads from Asian markets and overnight gains on the Wall Street boosted investors sentiment.
Rana Sugars Ltd leads gainers in 'B' group
Magadh Sugar & Energy Ltd, Avadh Sugar & Energy Ltd, Dalmia Bharat Sugar & Industries Ltd and Uttam Sugar Mills Ltd are among the other gainers in the BSE's 'B' group today, 14 September 2018.
India's WPI eases to 4.53% in August
India's annual rate of inflation based on wholesale prices eased to 4.53 per cent in August from a rise of 5.09 per cent in July, official data showed here on Friday.
Insight: Deutsche Bank's retreat to Germany gets tepid welcome at home
FRANKFURT/LONDON (Reuters) - German manufacturer Voith has been a customer of Deutsche Bank for more than a century.
America Movil cuts stake in KPN to 16 percent
AMSTERDAM (Reuters) - Mexican telecommunications company America Movil has cut its stake in Dutch telecoms company KPN to slightly more than 16 percent, a filing at financial watchdog AFM showed.
Turmeric futures rise 1.92% on firm demand
Turmeric prices rose by 1.92 per cent to Rs 6,784 per quintal in futures trade Friday after participants built up fresh positions on the back of pick up in domestic and exports demand. Besides, restricted supplies from growing regions also fuelled the upward movement. At the National Commodity and Derivatives Exchange, turmeric for delivery in October was trading higher by Rs 128, or 1.92 per cent, to Rs 6,784 per quintal with an open interest of 11,390 lots. The spice for delivery in the current month contract also increased by Rs 120, or 1.87 per cent, to Rs 6,530 per quintal in an open interest of 65 lots. Analysts said fresh positions created by participants following the upsurge in domestic as well as exports demand at the spot market against restricted supplies from producing regions pushed up turmeric futures.
Jeera futures rise 1.30% on pick-up in demand
Jeera prices went up by 1.30 per cent to Rs 19,860 per quintal in futures trade Friday as participants raised their bets, tracking a firm trend at the spot market due to rising domestic as well as exports demand. Furthermore, tight stocks position following restricted arrivals from the growing regions fuelled the uptrend. At the National Commodity and Derivatives Exchange, jeera for delivery in the current month rose by Rs 255, or 1.30 per cent, to Rs 19,860 per quintal, with an open interest of 171 lots. Likewise, delivery for October was trading higher by Rs 110, or 0.54 per cent, to Rs 20,180 per quintal as the open interest of contract stood at 8,031 lots. Traders said speculative positions built up by participants amid rising domestic as well as export demand led to the rise in jeera prices.
Jindal Stainless (Hisar) Ltd leads gainers in 'A' group
Rashtriya Chemicals & Fertilizers Ltd, Balrampur Chini Mills Ltd, Indo Count Industries Ltd and Mahindra & Mahindra Financial Services Ltd are among the other gainers in the BSE's 'A' group today, 14 September 2018.
Japan PM Abe says BOJ's easy policy shouldn't continue forever
TOKYO (Reuters) - Japanese Prime Minister Shinzo Abe said on Friday the central bank's ultra-easy policy should not continue forever, signaling his hope of laying the path toward an exit from a radical stimulus programme in coming years.
Leading Carige investors told to seek regulatory clearance over stake
MILAN (Reuters) - Three leading investors in Italy's Carige will have their voting rights capped at 10 percent at a key shareholder meeting next week unless they gain regulatory clearance for the their combined 15.2 percent stake, the bank said.
Sugar stocks jump 20 pc as govt raises ethanol price for blending in petrol
Shares of sugar companies jumped as much as 20 per cent in morning trade Friday after the government raised ethanol price for blending in petrol by 25 per cent. The government Wednesday approved an over 25 per cent hike in the price of ethanol produced directly from sugarcane juice for blending in petrol in a bid to cut surplus sugar production and reduce oil imports. The Cabinet Committee on Economic Affairs raised the procurement price of ethanol derived from 100 per cent sugarcane juice to Rs 59.13 per litre from the current rate of Rs 47.13. Among stocks, shares of Simbhaoli Sugars, Rana Sugars, Magadh Sugar & Energy, Rajshree Sugars & Chemicals, K M Sugar Mills, Avadh Sugar & Energy, Ponni Sugars (Erode), Uttam Sugar Mills and Thiru Arooran Sugars, Dalmia Bharat Sugar & Industries - all surged 20 per cent each in morning trade on BSE. That apart, shares of Dwarikesh Sugar Industries were trading with gains of 15.53 per cent, Dhampur Sugar Mills (17.71 per cent), ..
Asian shares rally on trade talk moves, China still cautious
SHANGHAI (Reuters) - Asian shares rose on Friday as the United States and China looked set to launch a new round of trade talks amid an escalating tariff row, while a decisive interest rate hike by Turkey's central bank also helped support global risk appetite.
Global Markets: Asian shares rally on trade talk moves, China still cautious
SHANGHAI (Reuters) - Asian shares rose on Friday as the United States and China looked set to launch a new round of trade talks amid an escalating tariff row, while a decisive interest rate hike by Turkey's central bank also helped support global risk appetite.
Hyundai launches Verna anniversary edition, price starts at Rs 11.69 lakh
Hyundai Motor India Ltd (HMIL) Friday launched an anniversary edition of its mid-sized sedan Verna priced between Rs 11.69 lakh and Rs 13.03 lakh (ex-showroom Delhi). The anniversary edition will be limited to 1,000 units based on single trim SX(O) in petrol and diesel engine variants with manual transmission and automatic transmission options, HMIL said in a statement. It will have features such as wireless phone charging, front and rear skid plate and rear spoiler, among others, it added. HMIL MD and CEO Y K Koo said, since its launch in August last year, the Next-Gen Verna has received good response from the market. The company's endeavour is to delight customers and make the car even more aspirational with the anniversary edition, he added.
Sensex up over 150 points; Nifty tests 11,450
The BSE Sensex was trading nearly 200 points higher in late morning deals on sustained buying in most sectors led by realty, metal, power, basic materials, consumer durables, utilities, healthcare, auto and oil & gas stocks, amid a recovering rupee and positive global cues. Investor sentiment was boosted as the industrial production grew at 6.6 per cent in July and retail inflation cooled to a 10-month low. The 30-share index was trading at 37,905.54 showing a gain of 187.58 points, or 0.50 per cent at 1150 hrs. The broader Nifty-50 index also trading higher at 11,442.40, up 72.50 points, or 0.64 per cent. Major gainers were Vedanta, PowerGrid, Yes Bank, Sun Pharma and Asian Paints rising up to 3.47 per cent. Meanwhile, on a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 1,086.39 crore on net basis, while domestic institutional investors (DIIs) bought equities to the tune of Rs 541.44 crore on Wednesday, provisional data showed. Overseas, Asia markets were ...
Venezuela's Maduro seeks deals with 'big sister' China
Venezuelan President Nicolas Maduro hailed China as a "big sister" as he prepared to meet with Chinese leader Xi Jinping Friday, hoping to broker economic deals for his crisis-hit country. Maduro declared after landing in Beijing overnight that he came with "great expectations" to further deepen strategic ties with Venezuela's key creditor. The leftist leader said his visit would give a "big push" to energy investments, trade and the "successful financial relationship" between the two countries. China has loaned some USD 50 billion to OPEC member Venezuela in the past decade, with Caracas repaying debt with oil shipments. The socialist-led Latin American country still owes USD 20 billion to Beijing. Maduro may return home with a new USD 5 billion loan and a six-month extension to the grace period to service its debt, according to Venezuelan consultancy Ecoanalitica. "China is our big sister. I will be very happy when I meet with our brother Xi Jinping on Friday," said Maduro, who last
Spot demand lifts copper futures by 0.76 pc
Copper futures traded 0.76 per cent higher at Rs 432 per kg Friday as speculators raised their bets amid rising spot demand even as the metal weakened at the London Metal Exchange (LME). In futures trade, copper for delivery in November rose by Rs 3.25, or 0.76 per cent, at Rs 432 per kg in a business turnover of 937 lots at the Multi Commodity Exchange. Similarly, the metal for delivery in far-month February next year edged up by Rs 3, or 0.69 per cent, at Rs 4376.65 per kg in 8 lots. Analysts said a better trend at the spot markets on rising demand from domestic consuming industries, influenced copper futures here, but a weak trend at the LME squeezed the gains. Globally, copper for delivery in three months was 0.3 per cent down at USD 6,015 per tonne at LME, pulling back from a two-week high reached in the prior session, as investors exercised caution ahead of possible trade talks between the US and China to resolve an escalating tariff war.
Cardamom futures fall 3 pc on profit-booking
Cardamom prices fell 3 per cent to Rs 1,388.50 per kg in futures trade on Friday as speculators booked their profits at prevailing levels amid easing demand at the spot market. Besides, sufficient stocks on higher arrivals from the major producing belts exerted pressure on cardamom futures prices. At the Multi Commodity Exchange, cardamom for October contract fell by Rs 42.90, or 3 per cent, to Rs 1,388.50 per kg in a business turnover of 53 lots. Similarly, the spice for delivery in November edged down by Rs 42, or 2.90 per cent, to Rs 1,404 per kg with a trading volume of just one lot. Marketmen said besides profit-taking by speculators at existing levels, increased arrivals from producing regions exerted pressure on cardamom futures.