Page 2976 - Business Finance
Investcorp looks at investment opportunities in China, India, Saudi
DUBAI (Reuters) - Investcorp is exploring investment opportunities in China, India and Saudi Arabia, its co-chief executive said on Wednesday.
Sensex, Nifty scale record high
Fresh buying propelled the key benchmark indices to day's high in early afternoon trade, with the Sensex and the Nifty, both, scaling record highs. At 12:17 IST, the barometer index, the S&P BSE Sensex, was up 197.70 points or 0.52% at 37,863.50. The Nifty 50 index was up 48.25 points or 0.42% at 11,437.70.
Gold edges up as dollar softens versus yuan
BENGALURU (Reuters) - Gold prices drifted higher in Asian trade on Wednesday, extending gains into a second session, as the U.S. dollar softened against China's yuan and the euro.
Oil dips on weak China imports, but Iran sanctions, weak U.S. stocks support
SINGAPORE (Reuters) - Oil prices dipped on Wednesday after China reported relatively weak import data, although the market remained well supported by falling U.S. crude inventories and the introduction of sanctions against Iran.
Global Markets: Asian shares up for fourth day on solid U.S. earnings, China stimulus hopes
TOKYO (Reuters) - Asian shares extended their recovery into a fourth day on Wednesday, buoyed by strong U.S. earnings and expectations that Beijing will ramp up fiscal stimulus to cushion the impact of its worsening trade dispute with Washington.
Castor seed futures climb by Rs 53 per quintal
Castor seed prices firmed up by Rs 53 to Rs 4,696 per quintal in futures trade today after participants accumulated positions amid a firm trend at the physical markets. Marketmen said, speculators were making long positions buoyed by brisk demand from paint, soap and lubricant industries amid a pause in supplies at the spot markets, which led to rise in castor seed futures price. At the National Commodity and Derivatives Exchange, castor seed delivery for August sharpened by Rs 53, or 1.14 per cent, to Rs 4,696 per quintal, with an open interest of 22,150 lots. The delivery for September hardened by Rs 53, or 1.13 per cent, to Rs 4,740 per quintal, having a business turnover of 1,34,390 open lots.
Visa Steel Ltd leads gainers in 'B' group
Hisar Metal Industries Ltd, Accel Frontline Ltd, OCL Iron & Steel Ltd and Vindhya Telelinks Ltd are among the other gainers in the BSE's 'B' group today, 08 August 2018.
Elon Musk wants to make Tesla a private company, here's why
Tesla CEO Elon Musk on a usual Twitter day tweeted his desire to make his billion-dollar company private at USD 420 per share . The reasonAfter his tweet caused a stir, Musk wrote an email to Tesla employees explaining the rationale behind the thought. While the decision is not final, one of the reasons to take the company private to make it operationally efficient without any distractions.Musk goes on to write how he envisions Tesla following the model of SpaceX where the employees are also the shareholders. The deal will be finalised through a vote of shareholders.
Japan Stocks end mixed
ECONOMIC NEWS: Japan Posts Current Account Surplus Of Y1.175 Trillion In June -- Japan posted a current account surplus of 1.175 trillion yen in June, the Ministry of Finance said on Wednesday, down from 1.938 trillion yen in May. The trade balance reflected a surplus of 820.5 billion yen, following the 303.8 billion yen deficit in the previous month. The adjusted current account surplus was 1.762 trillion yen, down from 1.850 trillion yen a month earlier.
Australia Stocks gain on Dow's overnight rise
Shares of banks and financials were up, with Commonwealth Bank of Australia leading rally, up as much as 5%, as its annual profit came slightly ahead of expectations. Australia's largest bank reported a 4.8 per cent fall in full-year cash profits to A$9.23 billion. Meanwhile, ANZ Bank, Westpac, and National Australia Bank were up in a range of 0.1% to 0.5%.
Intellect Design Arena Ltd leads gainers in 'A' group
Hathway Cable & Datacom Ltd, Sun Pharma Advanced Research Company Ltd, Inox Leisure Ltd and Kwality Ltd are among the other gainers in the BSE's 'A' group today, 08 August 2018.
Samsung Group pledges $22 billion spend on new technology in push for growth
SEOUL (Reuters) - Samsung Group will invest 25 trillion won ($22 billion) over three years in artificial intelligence, 5G mobile technology, electronic components for autos, and the biopharmaceutical business, Samsung Electronics said on Wednesday.
Wheat futures rise 0.66 pc on speculative buying
Wheat prices moved up by 0.66 per cent to Rs 1,986 per quintal in futures trade today as speculators built up fresh positions. At the National Commodity and Derivatives Exchange, wheat for delivery in August month went up by Rs 13, or 0.66 per cent to Rs 1,986 per quintal with an open interest of 4,450 lots. On similar lines, the wheat for delivery in September contracts edged up by Rs 5, or 0.25 per cent to Rs 1,990 per quintal in 2,990 lots. Analysts said fresh positions created by traders following improved demand in the physical market and a pause in arrivals from producing belts mainly led to the rise in wheat prices in futures trade.
Refined soya oil futures soften 0.40 pc on low demand
Refined soya oil prices declined by 0.40 per cent to Rs 732.90 per 10 kg in futures trade today as speculators pared their bets, triggered by adequate stocks position at the spot market against lower demand. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in September month fell by Rs 2.95, or 0.40 per cent, to Rs 732.90 per 10 kg with an open interest of 37,760 lots. Similarly, the oil for delivery in August contracts shed Rs 1.90, or 0.26 per cent to Rs 735.70 per 10 kg in 20,380 lots. Analysts said offloading of positions by participants owing to slackened demand in the physical markets against adequate stocks position on increased supplies from growing regions mainly weighed on refined soya oil prices at futures trade.
Maharashtra sugar mills owe Rs 593 cr to farmers: Official
Sugar mills in Maharashtra, which has seen a glut in production, owe Rs 593 crore to farmers, an official said today. The state government is making efforts to persuade the sugar mills to clear the dues of farmers, he said. The mills paid around Rs 20,682 crore as sugarcane purchase price to farmers till July this year, but there are still arrears worth Rs 593 crore, the official in the state sugar commissioner's office said. Last year, there were arrears of only Rs two crore, he noted. State sugar commissioner Sambhaji Kadu Patil said he has been personally talking to sugar mill owners to clear the dues of farmers. Action has been taken against some mills which did not comply with the government norms for making payments, he said. "This has helped in reducing the conflict between farmers and mills and also in bringing down the arrears of Rs 850 crore as on July 18 to Rs 593 crore by July end," he said. The government had earlier notified its decision to fix the ...
Indices extend gains
Key benchmark indices extended gains and hit fresh intraday high in mid-morning trade. At 11:17 IST, the barometer index, the S&P BSE Sensex, was up 162.60 points or 0.43% at 37,828.40. The Nifty 50 index was up 41.75 points or 0.37% at 11,431.20. Metal and mining stocks rose.
MphasiS slips after Q1 results
MphasiS fell 3.38% to Rs 1152.70 at 11:22 IST on BSE after consolidated net profit rose 8.68% to Rs 258.31 crore on 4.34% increase in net sales to Rs 1820.22 crore in Q1 June 2018 over Q4 March 2018.
Samsung to put USD 22 billion in artificial intelligence, autos
Samsung Electronics and its affiliated companies plan to spend USD 22 billion over the next three years on artificial intelligence, auto components and other future businesses. Samsung said today it will spend the sum, amounting to 25 trillion won, to hire artificial intelligence researchers, to be a global player in next generation telecoms technology and to boost its presence in electronics components for future cars. South Korea relies heavily on Samsung and its affiliated companies for investment and jobs, even after a corruption scandal that resulted in the bribery prosecution of the conglomerate's leader, Lee Jae-yong. Lee was freed after nearly a year in jail. The company's investment announcement came two days after the finance minister visited a Samsung computer chip factory, where he touted Samsung's importance in Asia's fourth-largest economy.
India Economy Picking Up; Growth Prospects Look Bright Partly Owing To GST, Says IMF
According to Ranil Salgado, the head of the IMF team for India, the goods and services tax created a unified national market for the first time by lowering internal barriers to tradeeffectively establishing a free trade agreement for a market of over 1.3 billion people. The tax is also expected to increase the amount of economic activity taking place in the formal sector of the economyleading to better quality and more reliable jobs. As a result, the goods and services tax should improve productivity and boost medium-term potential growth, while also creating room for the government to increase much needed social and infrastructure spending.
Chinese exports accelerate as U.S. prepares new tariffs in heated row
BEIJING (Reuters) - China's exports surged more than expected in July despite fresh U.S. duties and its closely watched surplus with the United States remained near record highs, as Washington finalised its new tariff list in a bitter dispute that some fear could derail global growth.