Page 2684 - Business Finance

Turnover on NSE's F&O segment jumps

Reliance Industries, ICICI Bank, HDFC Bank September 2018 futures at premium

Corrected: China's top bank ICBC flags trade war risks as profits rise

(Corrects name of ICBC Chairman to Yi Huiman, not Jiang Jianqing, in third paragraph)

Malaysian budget airline AirAsia's second-quarter profit more than doubles

(Reuters) - Malaysia's flagship budget airline AirAsia Group Bhd posted a 147 percent jump in quarterly profit on Thursday, helped by a reversal of deferred tax on the sale of aircraft.

Sensex, Nifty clock 2nd straight session loss on F&O expiry, rupee woes

Indian equity benchmarks declined for the second straight session today as financial stocks came under pressure amid the rupee collapsing to a new record low against the US dollar and concerns over surging crude oil prices. Investors also appeared cautious in view of expiry of August futures and options (F&O) and also due to mixed cues from global markets. Investors offloaded their long bets in F&O segment instead of carrying them forward to the next series for September, brokers said. The Indian rupee plunged to a new life-time low of 70.85 against the dollar (intra-day) today. Investors shifted their focus to the June-quarter GDP data to be announced tomorrow. Also, investor sentiments were hit after global oil prices went past USD 77 a barrel on a fall in US crude inventories and expected disruptions to supply from Iran and Venezuela. In spite of a higher opening, the 30-share Sensex settled lower by 32.83 points, or 0.08 per cent, at 38,690.10. Intra-day, it shuttled ...

Profit booking, weak rupee depress equity indices

Profit booking ahead of the August futures and options expiry and a weak rupee subdued the key Indian indices on Thursday.

Sensex, Nifty end slightly lower; derivatives expiry weighs

(Reuters) - Indian shares ended marginally lower on Thursday, as gains in consumer and healthcare were offset by losses in financial stocks, in volatile trade due to expiry of derivatives contracts at the end of the session.

Avendus Capital arm to launch environment-focused impact fund

Alternate asset management firm Avendus Capital today announced its plans to launch an impact fund, with a focus on environment, social and governance. To be called ESG (environment, social and governance), the fund will be launched by Avendus Capital Public Markets Alternate Strategies, the company said without disclosing details about the corpus and the launch date. The ESG fund, which the company claims to the first of its kind in the country, is a type of sustainable investing, an umbrella term for investments that seek positive returns, and evaluates the long-term impact of business practices on society, the environment and performance of the business. To spearhead the initiative, Avendus has tied up with Institutional Investor Advisory Services (IiAS), which will supply a ranking framework covering ESG principles, the company added. Rakesh Mohan, a former deputy governor of the Reserve Bank of India, and Amit Tandon, co-founder and managing director of IiAS, have ..

Gold dips on firmer dollar, palladium hits nine-week peak

LONDON (Reuters) - A slightly firmer dollar weighed on gold on Thursday, but prices were expected to continue to rebound in coming weeks from the steep losses earlier this month.

Key benchmarks end with small losses

Key equity indices fell marginally on Thursday amid negative cues from global markets. The barometer index, the S&P BSE Sensex, fell 32.83 points or 0.08% to 38,690.10, as per the provisional closing data. The Nifty 50 index fell 15.10 points or 0.13% to 11,676.80, as per the provisional closing data.

Court transfers Chennai Corporation officials

The Madras High Court on Thursday ordered the Commissioner of Chennai Corporation to transfer all the officials in the vigilance cell within four weeks.

Oyo forays into leisure segment with Palette Resorts

Hotels chain Oyo today said it has forayed into the leisure category with its new brand Palette Resorts. The hotels chain is currently partnering with select resorts that offer amenities including rooms, private villas and beaches, gourmet dining, spa and other recreational provisions, a release said. "With Palette by Oyo, we are expanding our playfield to upscale resorts, while remaining committed to our core value proposition - location, quality, and price. These are hand-picked, premium accommodations," its chief of strategy, Maninder Gulati said. The Gurugram-based company is starting with a property in Pondicherry named Palette Resorts - Le Pondy. Gulati said Oyo will look to expand the footprints of Palette Resorts to other tourist destinations in India and other international markets based on the learnings on ground and feedback from asset owners and guests. India currently has over 4,000 unbranded independent resorts and branded assets across heritage, beach ...

Oil-rich South Sudan to resume production in war-hit region

Emboldened by a new peace deal, civil war-torn South Sudan says it will resume oil production in a key region next month to make up for more than USD 4 billion of revenue lost during years of fighting. South Sudan, with Africa's third-largest oil reserves, will renew drilling in northern Unity State for the first time since the fields were destroyed when the conflict began in late 2013, oil ministry officials told The Associated Press. The goal is to have all five locations there operational by the end of the year and working alongside the oil fields in Upper Nile State, which operated throughout the civil war. South Sudan's economy is almost entirely dependent on exports of oil from its 3.5 billion barrels of reserves. Most of the oil rigs were shut down or destroyed by the civil war. The fighting that killed tens of thousands of people has also devastated the economy and sent prices for everyday items soaring. Oil was central to South Sudan's potential when it won independence from .

Germany urges Europe not to adopt a 'Europe First' policy

FRANKFURT (Reuters) - Germany's finance minister warned against following a "Europe First" policy and said it was unclear whether the European Union would reach a Brexit agreement with Britain.

ITI gallops after large work order

ITI jumped 19.7% to Rs 111.35 at 14:59 IST on BSE after the company received an advance work order from BSNL for the operation and maintenance and sales and marketing of the passive infrastructure.

Mercedes-Benz opens new service facility in Coimbatore

Mercedes-Benz India, the largest luxury car maker in the country, has opened a new facility in the city to bolster its service network in tier-2 markets. The service facility by Sundaram Motors, one of the largest in the country, is spread across an area of 80,000 sq.ft and will serve as a one-stop shop for all customer service requirements in the region. Mercedes-Benz India Vice-President-Customer Services and Corporate Affairs, Santosh Iyer, who inaugurated the facility yesterday at Sundaram Motors, said it is the 31st in south India and 10th in Tamil Nadu, "Our focus on emerging tier II markets like Coimbatore, is going to play a significant role in our future growth story as we see these markets as key engines of growth," a company release quoted Iyer as saying. With 31 facilities across 13 cities, south India remained one of the company's key markets and will witness continued network expansion and focused growth, he added. Sundaram Motors Executive Director Sharath

Sugar prices rise on firm spot demand

Sugar prices rose by up to Rs 10 per quintal at the wholesale sugar market in the national capital today following unabated buying by stockists and bulk consumers ahead of next month and tight supplies. Marketmen said besides restricted supplies from mills, sustained buying by stockists and bulk consumers to meet demand for the coming month, kept sweetener's prices higher. Sugar ready M-30 and S-30 prices were higher by Rs 10 each to Rs 3,450-3,550 and Rs 3,440-3,540 per quintal, respectively. Mill delivery M-30 and S-30 prices also settled marginally higher by Rs 5 each to Rs 3,160-3,330 and Rs 3,150-3,320 per quintal, respectively. In the mill gate section, sugar Kinnoni and Dhanora edged up by Rs 5 each to Rs 3,330 and Rs 3,300 per quintal, respectively. Prices of Malakpur also went up by Rs 10 to Rs 3,200 per quintal. Following are today's quotations (in Rs per quintal) Sugar retail markets - Rs 35-40 per kg. Sugar ready: M-30 Rs 3,450-3,550, S-30 Rs 3,440-3,540. Mill delivery: ...

Hike in petrol, diesel prices

Fuel prices was increased on Thursday with petrol being sold at Rs 78.30 per litre in Delhi and at Rs 85.72 per litre in Mumbai, as per the data provided by the Indian Oil Corporation. Diesel prices shot up to Rs 69.93 in the national capital and Rs 74.24 per litre in Mumbai.Petrol prices in Delhi increased by 12 paise per litre since yesterday and by 13 paise per litre in Mumbai, Kolkata and Chennai. Similarly, diesel prices increased by 14 paise per litre in Delhi and Kolkata while it increased by 15 paise per litre in Mumbai and Chennai.Diesel in Kolkata is now sold at Rs 72.78 per litre while petrol cost has gone up to Rs. 81.23 per litre. In Chennai, diesel was seen retailing at Rs 74.86 per litre and petrol at Rs. 81.35 per litre. According to media reports, this is the fifth day of petrol and diesel hike by the oil marketing companies.On August 26, petrol was sold at Rs 77.78 per litre in Delhi and at Rs 85.20 per litre in Mumbai while the cost of petrol in Kolkata was Rs 80.71

Kwality Ltd leads losers in 'A' group

Uflex Ltd, Interglobe Aviation Ltd, Pfizer Ltd and SpiceJet Ltd are among the other losers in the BSE's 'A' group today, 30 August 2018.

S&P, others paid $157 million to settle landmark Australian lawsuit

SYDNEY (Reuters) - Standard & Poor's and other companies paid A$215 million ($157 million) to settle a lawsuit in Australia where they were accused of overlooking risks when awarding high ratings to opaque investments that imploded in the global financial crisis.

Analysis: Hong Kong's digital banking push pits tech newcomers against old-guard lenders

HONG KONG (Reuters) - At least a dozen banks, fintechs and telecom firms are lining up to get a piece of Hong Kong's retail and small business banking market as the regulator prepares to award the former British colony's first online-only banking licences.