Page 2781 - Business Finance
Malaysia PM calls for China's help with fiscal problems
Malaysian Prime Minister Mahathir Mohamad called on China's top leadership to help with his country's fiscal problems today, as he seeks to revise major Beijing-backed projects signed under his country's scandal-plagued former regime. The 93-year-old leader, who returned for a second stint as premier following a shock election win in May, has railed against a series of deals struck with Chinese state-owned companies by the administration of toppled leader Najib Razak. His government has suspended China-backed projects worth more than USD 22 billion, including a major rail link, and Mahathir had pledged to raise the issue of what he views as unfair terms related to some of the deals on his five-day trip. During a press conference with Chinese Premier Li Keqiang at Beijing's Great Hall of the People, Mahatir thanked China for agreeing to increase imports of specialty agricultural products, such as durian fruit. But Mahatir also said he expected more from the world's second largest ...
Goa Carbon hits the roof
Goa Carbon hit an upper circuit limit of 5% at Rs 792.85 at 10:17 IST on BSE after the company said its Goa unit resumed operations after maintenance.
Capital goods stocks gain
Stocks extended gains and hit fresh intraday high in morning trade. At 10:18 IST, the barometer index, the S&P BSE Sensex, was up 303.13 points or 0.8% at 38,251.01. The Nifty 50 index was up 71.85 points or 0.63% at 11,542.60. The Sensex and the Nifty, both, scaled fresh record high. Capital goods stocks edged higher. Positive Asian stocks boosted sentiment on domestic bourses.
Infosys slips after CFO Ranganath resigns
Infosys fell 1.96% to Rs 1403.25 at 10:08 IST on BSE after the company said that its board has accepted the resignation of M D Ranganath as the chief financial officer and key managerial personnel of the company.
L&T jumps on buyback plan
Larsen & Toubro rose 5.01% to Rs 1302.50 at 9:59 IST on BSE after the company announced that its board will meet on 23 August 2018, to consider a proposal for buyback of equity shares of the company.
Turkish lira crisis poses additional risk to German economy: finance ministry
BERLIN (Reuters) - Turkey's currency crisis poses an additional risk to Germany's economy on top of trade frictions with the United States and the possibility of Britain leaving the European Union without a deal, the German finance ministry said on Monday.
Japan Nikkei falls 0.25%
Market participants are awaiting developments in the US-China trade conflict after the two countries said on Thursday, 16 August 2018, that they would hold lower-level trade talks next week. As per reports, the talks in Washington would take place on August 21 and 22, just before $16 billion in new US tariffs on Chinese goods take effect, along with an equal amount of retaliatory tariffs from Beijing. The US Trade Representative's office said on Friday it doubled the length of tariff hearings on the next $200 billion worth of Chinese goods to six days from the previously planned three due to overwhelming demand from companies to testify. The hearings will be held Aug. 20-24 and on Aug. 27.
Australia Market edges up
Market participants are awaiting developments in the US-China trade conflict after the two countries said on Thursday, 16 August 2018, that they would hold lower-level trade talks next week. As per reports, the talks in Washington would take place on August 21 and 22, just before $16 billion in new US tariffs on Chinese goods take effect, along with an equal amount of retaliatory tariffs from Beijing. The US Trade Representative's office said on Friday it doubled the length of tariff hearings on the next $200 billion worth of Chinese goods to six days from the previously planned three due to overwhelming demand from companies to testify. The hearings will be held Aug. 20-24 and on Aug. 27.
Sensex hits record high, Nifty breaches 11,500 mark
Continuing its rally, the benchmark BSE Sensex rose over 250 points to hit a fresh record high in early trade, and NSE Nifty went past the 11,500-mark for the first time today on widespread gains in capital goods, metal, realty and banking scrips amid firm Asian cues. The Sensex advanced by 263.06 points, or 0.69 per cent, to hit a new high of 38,210.94, breaking its previous record of 38,076.23 reached on August 9. The gauge had gained 284.32 points in the previous session on Friday. NSE Nifty too breached the 11,500 mark, by surging 46.50 points, or 0.40 per cent, to 11,517.25, surging past its previous (intra-day) high of 11,495.20 on August 9. Besides, fresh inflows by foreign funds and persistent buying by domestic institutional investors (DIIs) and rupee recovery also boosted investor sentiment here, brokers said. The market rally was powered by strong gains in capital gods, metal, realty, infrastructure, PSU, oil and gas, healthcare, auto and banking stocks, rising up to 2.78 ..
Oil prices edge down on worries over slowing economic growth
SINGAPORE (Reuters) - Oil prices fell on Monday as concerns over slowing economic growth weighed on markets.
U.S. drops agriculture demand from NAFTA talks - Mexico farm lobby
MEXICO CITY (Reuters) - The United States has dropped a contentious demand from the renegotiation of the North American Free Trade Agreement to impose restrictions on Mexican agricultural exports, Mexico's top farm lobby said on Sunday.
Sensex, Nifty scale record high
Domestic stocks drifted higher in early trade, with the Sensex and the Nifty, both, scaling record high. At 9:30 IST, the barometer index, the S&P BSE Sensex, was up 188.39 points or 0.5% at 38,136.27. The Nifty 50 index was up 47.50 points or 0.41% at 11,518.25. Positive Asian stocks boosted sentiment on domestic bourses.
Board of Yogi Infra Projects approves change in directorate
At meeting held on 18 August 2018
Greece exits final bailout successfully: ESM
ATHENS (Reuters) - Greece has successfully exited its final, three-year bailout programme, agreed in August 2015 to help it cope with the continued fallout from a debt crisis, the euro zone's ESM rescue fund said on Monday.
Exclusive: Saudi PIF in talks to invest in aspiring Tesla rival Lucid - sources
(Reuters) - PIF, the Saudi Arabian sovereign wealth fund that Tesla Inc CEO Elon Musk has said could help him fund a $72 billion deal to take his electric car maker private, is in talks to invest in aspiring Tesla rival Lucid Motors Inc, people familiar with the matter said on Sunday.
Rupee recovers 38 paise against US dollar in early trade
The rupee today recovered from its all-time low by rising 38 paise to 69.77 against the US dollar in early trade at the Interbank Foreign Exchange market on fresh selling of the greenback by exporters and banks ahead of US-China trade talks this week. Besides, the dollar weakened against other currencies overseas as demand for the safe-currency receded on optimism over a reduction in US-China trade tensions, helping the domestic currency rebound, forex dealers said. A higher opening in the equity market also supported the rupee's recovery, they said. The BSE benchmark Sensex rallied by 178.77 points, or 0.47 per cent, to quote at an all-time high of 38,126.65 (intra-day) in early trade today. The broader NSE Nifty too breached the 11,500-mark for the first time. The Indian currency had collapsed to a historic intra-day trading low of 70.40 before closing at fresh life-time low of 70.15 per dollar on Thursday, down by 26 paise or 0.37 per cent. Forex market was shut on Friday on ...
Global luxury brands again chase China's young, rich and spendthrift
HONG KONG (Reuters) - Global luxury brands from Prada to LVMH are investing in China for the first time since a crackdown on conspicuous spending five years ago, focusing on smaller, less developed cities even as the world's second-largest economy slows.
Gold inches higher as U.S.-China trade optimism pressures dollar
BENGALURU (Reuters) - Gold prices inched higher on Monday as hopes of easing trade tensions between the United States and China put pressure on the dollar, adding to demand for the yellow metal that improved last week after prices touched 19-month lows.
L&T may rise on buyback plan
Larsen & Toubro (L&T) announced that its board will meet on 23 August 2018, to consider a proposal for buyback of equity shares of the company. The announcement was made on Saturday, 18 August 2018.