Page 2610 - Business Finance
Stocks drift lower in early trade
Domestic stocks drifted lower in early trade on negative Asian stocks. At 9:27 IST, the barometer index, the S&P BSE Sensex, was down 113.93 points or 0.3% at 38,128.88. The Nifty 50 index was down 33.85 points or 0.29% at 11,503.05.
Infosys forms joint venture with Temasek in Singapore
Indian software major Infosys on Friday said it has formed a joint venture (JV) with global investment firm Temasek in Singapore to service it and its clients in the digital domain.
Rupee edges higher by 4 paise against USD in early trade
The rupee Friday opened on a positive note and was trading marginally higher by 4 paise at 71.95 to the US dollar. A slight weakness was seen in the American unit against some currencies including yen on fears that US President Donald Trump would take up trade issues with Japan. The dollar trend overseas supported the rupee but losses in domestic equities kept investors mood dampened, capping the domestic currency's gains. The rupee Thursday plunged to new record low of 72.11 a dollar in intra-day trade before closing at 71.99, showing a steep 24 paise fall. Meanwhile, the benchmark Sensex fell 165.72 points, or 0.43 per cent, to 38,077.09 in early trade.
Infosys and Temasek form joint venture in Singapore
As part of the transaction, Infosys will acquire a 60% stake in the joint venture and Temasek will hold 40%. The agreement was signed by the parties last night and is effective immediately.
Gold edges higher as dollar slips against yen on trade jitters
BENGALURU (Reuters) - Gold extended gains on Friday as the dollar fell against the yen after a report suggested that U.S. President Donald Trump would next take up trade issues with Japan, while investors feared a new round of Sino-U.S. tariffs could come at any moment.
Oil steady as U.S. crude inventories fall, but trade tensions weigh
SINGAPORE (Reuters) - Oil prices were stable on Friday, as the market balanced a fall in U.S. crude inventories to the lowest levels since 2015, with Sino-American trade tensions and economic weakness from emerging markets.
A flat opening on the cards
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 7 points at the opening bell.
Global Markets: Asia shares worn down by trade tension, yen a safe harbour
SYDNEY (Reuters) - Asian shares carved out a 14-month trough on Friday as investors feared a new salvo of Sino-U.S. tariffs could come at any moment, while a slump in U.S. chip stocks rippled through the tech-heavy region.
The evolution of city facilities with smart cities
The 4th Annual Sustainable Smart Cities India Conference was successfully launched at the Sterlings Mac Hotel, Bengaluru. The event was officially supported by Smart City Mission, Government of India, Swachh Bharat, Karnataka Urban Infrastructure Development and Finance Corporation and City Manager Association Karnataka.The two-day premier high-profile conference was organised by Nispana to bring together key stakeholders, central and state government officials and decision makers from across diverse sector. The event intended to discuss activities, reforms, development and barriers taking place in the Smart Cities India projects. The summit also focused on sharing best practices and collaboration of technology, products and services for the empowerment of urban development.The conference was inaugurated by A B Ibrahim, IAS, Mission Director, Smart City Mission, Karnataka and Managing Director, Karnataka Urban Infrastructure Development and Finance Corporation (KUIDFC). The welcome ...
Railways providing best speed WiFi at 710 stations: Piyush Goyal
Union Railways Minister Piyush Goyal has said that Indian Railways has taken Wi-Fi to 710 railway stations, while claiming that it is the best in the country in terms of speed.Addressing a seminar on leveraging information technology for mobility in Delhi on Thursday, Goyal also highlighted the exponential growth in paperless ticketing and said that Paperless Unreserved Tickets have moved up from 195 in 2014-15 to 67,000 last year that is a 35,000 percent increase over a period of three years.While discussing how technology can improve both passenger experience and freight transport, he said, "GPS is a tried and tested method. It will help us completely eliminate the fudging of data on train movement and help us track the 22,000 trains, both passenger and freight, on a real-time basis. In railways, there are 444,000 tenders. The multiplicity of tenders will lead to cost inefficiency. Hence, the clubbing of items and data mining could help reduce procurement inefficiency. 150 thousand .
Oil prices climb as U.S. crude inventories drop
SINGAPORE (Reuters) - Oil prices rose on Friday after U.S. crude inventories fell to their lowest levels since February 2015.
Global Markets: Trade war uncertainty drags on global stock markets
NEW YORK (Reuters) - Stock markets around the world declined on Thursday and emerging market stocks fell for the sixth day as investors shied away from risk and braced for an escalation in a trade conflict between the United States and China.
US dollar extends losses ahead of payroll data
The US dollar continued to decrease as market players awaited the release of key monthly employment data scheduled on Friday.
Andhra Pradesh to allot 15,091 houses under PMAY
Andhra Pradesh cabinet has approved the allotment of 15,091 houses in 2018-19 under Pradhan Mantri Awas Yojana (PMAY) - NTR (Urban) Nagar scheme.In a cabinet meeting held on Thursday afternoon at the state secretariat, it was also decided that if the houses allotted in rural areas of the state from 1993-94 to 2006-07 are in dilapidated condition, they will be allotted new houses under NTR rural housing program with some conditions.The state government also decided to pay dearness allowance at the revised rates to the state government employees and pensioners. The revised rates will be applicable from 7.1.2017 and will cost Rs 627crores to the state exchequer.A draft bill to set up AP maritime board, for development of seaports in the state and to look after their administration was also approved along with the proposal of revising exclusive limits of Kriahnapatnam port.Andhra Pradesh cabinet also took important decisions to provide a boost to aviation sector in the state and approved .
Wall Street takes a hit from chip, internet stocks
(Reuters) - The tech-heavy Nasdaq saw sharp declines on Thursday as internet stocks faltered for a second day on concerns about increased regulation, while a warning from KLA Tencor led a slide in chip stocks.
US stocks mixed amid tumbling tech shares, trade talks
US stocks closed mixed as tech shares continued to slide after a weak trading session, weighing on the market.
CBS negotiating Moonves' exit and Viacom merger standstill: sources
(Reuters) - Media company CBS Corp's board is in talks with Chief Executive Officer Les Moonves to negotiate his exit, a source familiar with the matter said on Thursday.
Twitter permanently bans Alex Jones, Infowars citing abuse
Twitter is permanently banning right-wing conspiracy theorist Alex Jones and his "Infowars" show for abusive behaviour. The company said Jones won't be able to create new accounts on Twitter or take over any existing ones. Twitter said Jones posted a video on Wednesday that violates the company's policy against "abusive behaviour." The video in question showed Jones shouting at and berating CNN journalist Oliver Darcy for some 10 minutes in between two congressional hearings focused on social media. Twitter CEO Jack Dorsey testified at both hearings, but did not appear to witness the confrontation. Jones had about 900,000 followers on Twitter. "Infowars" had about 430,000. Twitter had previously suspended Jones for a week. But until now it had resisted muzzling Jones further. Other tech companies have limited Jones by suspending him for longer periods, as Facebook did, and by taking down his pages and radio stations. Jones heckled Darcy in a public hallway where reporters were waiting
Trade jitters and tech woes weigh on S&P, Nasdaq
NEW YORK (Reuters) - The S&P 500 and Nasdaq declined on Thursday as the possibility of more U.S. tariffs on Chinese imports loomed, while tech stocks stumbled, led by chipmakers and concerns about increased regulation of social media companies.
Corrected: Wall Street takes a hit from chip, internet stocks
(This version of the story corrects to drop reference to Micron in paragraph one)