Page 2622 - Business Finance
Novartis sells parts of Sandoz US to India's Aurobindo for $900 mln
(Reuters) - Novartis AG said on Thursday it would sell the dermatology and generic U.S. oral solids portfolios of Sandoz U.S. to India's Aurobindo Pharma Ltd for $900 million, as the Swiss drugmaker looks to focus on higher growth areas.
Market slightly higher in early trade
Stocks drifted higher in early trade as buying resumed in index pivotals after recent slide. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 21.18 points or 0.06% at 38,039.49. The Nifty 50 index was up 7.85 points or 0.07% at 11,484.80.
Petrol, diesel prices break fresh records
Fuel prices once again witnessed a hike on Thursday, with petrol being sold at Rs.79.51 per litre and diesel at Rs.71.55 per litre here in the national capital.The price of petrol has been increased by 20 paise per litre, while diesel saw a hike of 21 paise per litre, as compared to Tuesday's prices in New Delhi.In Mumbai, the price of petrol has surpassed the Rs 86 mark to be sold at Rs.86.91 per litre, while diesel is being retailed at Rs.75.96 per litre.Fuel prices across four major cities remained steady on Wednesday, after recording an increase for ten consecutive days.While petrol prices were selling at an unchanged price of Rs 79.31 per litre yesterday, the same was retailing at Rs. 86.72 in Mumbai, Rs. 82.41 in Chennai and Rs. 82.22 in Kolkata.The diesel prices also remained unchanged on Wednesday across the four metropolitan cities, as per the Indian Oil Corporation. A litre of diesel was being sold at Rs 71.34 in Delhi, Rs 75.74 per litre in Mumbai, Rs 75.39 per litre in ...
Dissenter criticises Bank of Japan's flexible bond yield plan, wants more easing
YOKOHAMA, Japan (Reuters) - Bank of Japan board member Goushi Kataoka criticised on Thursday the central bank's decision in July to make its policy framework more sustainable, arguing that it should have instead ramped up stimulus to hasten the achievement of its elusive price target.
China to exempt VAT for interest income from loans to smaller firms - finance ministry
BEIJING (Reuters) - China's finance ministry said on Thursday interest income from loans by financial institutions to smaller firms will be exempt from value-added tax (VAT) from Sept. 1 until the end of 2020.
Rupee recovers 9 paise against US dollar in early trade
The rupee Thursday recovered from its all-time low by rising 9 paise to 71.66 against the US dollar in early trade at the Interbank Foreign Exchange market on fresh selling of the US currency by exporters and banks. Finance Minister Arun Jaitley Wednesday attributed the fall in rupee to global factors and stressed that the domestic unit was better off as compared to other currencies. Besides, dollar selling by exporters and banks, fall in crude prices in the global market and weakness in the dollar against other currencies overseas amid US-China trade conflict, helped the domestic currency rebound, forex dealers said. They said a higher opening in the equity market also supported the recovery in the rupee. The rupee's unabated fall continued for the sixth straight session Wednesday, hitting yet another closing low of 71.75, down 17 paise against the US currency as surging oil prices and weak trend in emerging market currencies weighed on sentiments. Intra-day, the domestic unit ...
U.S. dollar to keep currency crown this year, but not next: Reuters poll
BENGALURU (Reuters) - The U.S. dollar, which has had its best yearly performance since 2015 so far in 2018, will hold on to those gains for the rest of the year but beyond that is unlikely to maintain its ascendancy, a Reuters poll showed.
BOJ's Kataoka urges more stimulus, criticises bank's flexible bond yield plan
YOKOHAMA, Japan (Reuters) - Bank of Japan board member Goushi Kataoka criticised on Thursday the central bank's decision in July to make its policy framework more sustainable, arguing that it should have instead ramped up stimulus to hasten the achievement of its elusive price target.
Sagar Cements in spotlight after good cement sales
Sagar Cements said total consolidated cement sales rose 24.03% to 247,051 MTs in August 2018 over August 2017. The announcement was made after trading hours yesterday, 5 September 2018.
Indices may open higher
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 23 points at the opening bell.
Global Markets: Asian shares extend losses on trade, emerging market anxiety
SYDNEY (Reuters) - Asian shares fell for the sixth straight session on Thursday as oil skidded and safe-haven gold gained, with investor confidence shaken by turmoil in emerging markets and jitters over a potentially severe escalation in the U.S.-China trade war.
Tokyo stocks open lower after Hokkaido quake, typhoon
Tokyo stocks opened lower on Thursday after a powerful earthquake rocked Hokkaido, with investor sentiment also dampened by a strong typhoon pummeling western Japan recently.
Facebook to build first Asian data centre in Singapore, investing over $1 billion
SINGAPORE (Reuters) - Facebook said on Thursday it will build its first data centre in Asia in Singapore, investing more than $1 billion.
Oil prices fall on emerging market woes, looming tariff deadline
SINGAPORE (Reuters) - Oil prices fell on Thursday as emerging market woes weighed on sentiment, while a deadline neared for a potential new round of U.S. tariffs on another $200 billion of Chinese goods.
US dollar ticks down on stronger euro, pound
The US dollar fell as British pound and euro gained on possible breakthrough from Brexit talks.
Argentina confident about new deal with IMF, peso rises
BUENOS AIRES/WASHINGTON (Reuters) - Argentina's economy minister sounded upbeat on Wednesday about clinching a new deal with the International Monetary Fund after two days of talks in Washington, and said had sought U.S. support for securing approval from the IMF's board.
Venezuela breaks monthly inflation record, opposition says
Inflation in Venezuela broke the 200 percent barrier for a single month in August, bringing it to 200,000 percent over the last year, the sidelined opposition-controlled parliament said on Wednesday. Only two months ago, inflation over a single month had passed 100 percent for the first time, opposition deputy Jose Guerra, a former central bank executive, said on Twitter. It means prices have increased by almost 35,000 percent since the start of the year and 200,000 percent since August 31, 2017. The International Monetary Fund has predicted inflation will reach one million percent in 2018. The news comes after President Nicolas Maduro launched a series of economic reforms last month to try to arrest four years of recession and a crippling economic crisis that has led to hundreds of thousands of people fleeing the country. Reforms included increasing the minimum wage by 3,400 percent, redenominating the currency -- removing five zeros -- that was also devalued by 96 percent and fixed .
Exclusive: Tribune Media in new sale talks after Sinclair deal collapse -sources
(Reuters) - U.S. TV station owner Tribune Media Co is kicking off a new round of talks to sell itself after its planned $3.9 billion sale to peer Sinclair Broadcast Group Inc failed to get regulatory clearance, people familiar with the matter said on Wednesday.
Telangana registers 21.96% growth rate in first 5 months
Telangana State has achieved 21.96 percent growth rate in revenue during the first five months of the financial year 2018-19, informed Chief Minister's office on Wednesday.The Chief Minister's office, in a statement, stated that during the first five months from April to August 2018 the revenue in the state has touched Rs. 25, 3984.18 crore which marks a 21.96 percent growth as compared to last year's figure for the same period. In the first five months of the 2017-18 financial year, the revenue was Rs. 21,642.02 crore.According to the statement, the state has been registering record revenue growth since last four years. After formation of Telangana State, in the first four financial years, the state has recorded a revenue growth rate of 17.17 percent on an average every year.Meanwhile, the Economic Times has decided to confer the prestigious Economic Times Business Reformer of the year Award on Telangana Chief Minister K. Chandrashekhar Rao on October 27, 2018 in Mumbai.According to
Nasdaq falls as U.S. lawmakers grill Facebook, Twitter executives
NEW YORK (Reuters) - The Nasdaq fell more than 1 percent on Wednesday, dented by technology stocks after Facebook Inc and Twitter Inc executives defended their companies before sceptical U.S. lawmakers.