Page 3030 - Business Finance
For investors in Russia, U.S. sanctions will not pack the same punch as before
LONDON/NEW YORK (Reuters) - A threat to impose sanctions on Russian sovereign debt transactions is one of the biggest financial weapons that the U.S. can deploy against the Kremlin, but Moscow's slide down the investment league table in recent years means the move will not pack the punch it once would have.
Insight: Czech leader's planned spending spree has some people worried
PRAGUE (Reuters) - Leaders tend to rein in generous election promises once they come to power; few tour the country adding more, as Czech Prime Minister Andrej Babis has been doing.
Torrent Pharmaceuticals announces change in directorate
On 02 August 2018
Strong market breadth
Key benchmarks held firm after hitting fresh intraday high in mid-morning trade. At 11:22 IST, the barometer index, the S&P BSE Sensex, was up 251.99 points or 0.68% at 37,417.15. The Nifty 50 index was up 76.70 points or 0.68% at 11,321.40. Shares jumped on bargain hunting after a recent sell off.
India to appeal arbitration ruling on Reliance-ONGC dispute
NEW DELHI (Reuters) - India will appeal against a ruling by an international tribunal in favour of Reliance Industries Ltd and its international partners in a dispute over gas migration from fields operated by state-owned Oil and Natural Gas Corp Ltd.
Crude palm oil futures gain 0.27%
Crude palm oil prices went up by 0.27 per cent to Rs 590.50 per 10 kg in futures trade today as speculators widened their positions amid firm demand at the spot market. Besides, a positive trend in overseas markets supported the upmove. At the Multi Commodity Exchange, crude palm oil for this month rose by Rs 1.60 or 0.27 per cent to Rs 590.50 per 10 kg in a business turnover of 212 lots. Similarly, the oil for delivery in September went up by Rs 1.20 or 0.20 per cent to Rs 587.80 per 10 kg in 155 lots. Analysts said widening of positions by participants amid pick up in spot demand against tight stocks position on restricted supplies from overseas markets mainly kept crude palm oil prices higher at futures trade.
Global Markets: Asia stocks capped, dollar at 2-week high as trade war dents confidence
TOKYO (Reuters) - Asian stocks inched up on Friday following a tech-led rise on Wall Street, although the latest exchange of trade threats between Beijing and Washington capped gains and drove safe-haven flows to the dollar, which hovered near a two-week high.
Refined soya oil remains up on rising demand
Extending gains for the second day, refined soya oil prices advanced by 0.15 per cent to Rs 739.75 per 10 kg in futures trade today as speculators raised their bets. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August went up by Rs 1.10, or 0.15 per cent to Rs 739.75 per 10 kg with an open interest of 28,020 lots. Similarly, the oil for delivery in September edged up by 50 paise, or 0.07 per cent to Rs 732.85 per 10 kg in 39,690 lots. Analysts said widening of positions by traders on the back of rising demand in the spot market against restricted supplies from producing belts kept refined soya oil prices higher in futures trade.
Reliance Naval & Engineering receives contract termination letter from ONGC
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PVR signs non-exclusive arrangements with Paytm and Bookmyshow
PVR to receive Rs 350 crore as advance payment under these arrangements
Swaraj meets Kazakhstan counterpart, discusses ways to deepen cooperation
External Affairs Minister Sushma Swaraj today held a comprehensive discussion with her Kazakhstan counterpart Kairat Abdrakhmanov on deepening cooperation in areas like trade, energy and defence and security. Swaraj is on a three-nation tour to Kazakhstan, Kyrgyzstan and Uzbekistan as part of India's efforts to boost strategic partnership with the resource-rich nations. "Strategic partners since 2009! EAM @SushmaSwaraj met Foreign Minister of Kazakhstan Kairat Abdrakhmanov," Raveesh Kumar, the Ministry of External Affairs spokesperson, tweeted. The two leaders held a comprehensive discussion on deepening cooperation in trade and investment, defence and security, energy, Information and Communications Technology, pharma, capacity building and culture, he said. Swaraj was earlier warmly welcomed by Abdrakhmanov at his office ahead of the delegation-level talks.
Jet Airways slumps 6% in morning trade on bourses
Shares of Jet Airways today slumped nearly 6 per cent in morning trade on the bourses after reports surfaced that the company's financials are in bad shape and drastic measures need to be taken to cut costs. Shares of the company today opened on a weak note at Rs 324.80, then fell 5.72 per cent to a low of Rs 312.25 on BSE. Similar movement was seen on the NSE as well, where the stock of the company opened at Rs 323.90, then fell to a low of Rs 312.15, down 5.73 per cent over its previous closing price. According to media reports Jet Airways has informed its employees that the airline will not be able to operate beyond 60 days unless cost cutting measures, which include pay cuts, are put in place. Earlier reports had surfaced that the airline has proposed up to 25 per cent pay cut for employees, but the proposal has been rejected by pilots and and engineers. The full-service carrier was believed to be in discussions with certain sections of employees on the salary cut proposal, which .
Volumes spurt at Tejas Networks Ltd counter
Tejas Networks Ltd registered volume of 72.6 lakh shares by 10:47 IST on BSE, a 233.48 fold spurt over two-week average daily volume of 31095 shares
Copper futures extend slide on global cues
Copper prices drifted down by 0.35 per cent to Rs 415.40 per kg in futures market today as speculators reduced bets, driven by a weak trend overseas. At the Multi Commodity Exchange, copper for delivery in August fell by Rs 1.45, or 0.35 per cent to Rs 415.40 per kg in business turnover of 943 lots. Likewise, the metal for delivery in November declined by Rs 1.35, or 0.32 per cent to Rs 422.75 per kg in 18 lots. Analysts said sentiment remained subdued after London Metal Exchange copper prices were lower for a third day, as the prospect of an all-out Sino-US trade war continued to outweigh a looming strike at the world's largest copper mine. Meanwhile, copper for delivery in three month slipped 0.4 per cent to USD 6,114.50 a tonne on the London Metal Exchange.
Lead futures soften by 0.38% on weak spot cues
Lead prices moved down by 0.38 per cent to Rs 145.80 per kg in futures trade today as speculators cut bets, taking negative cues from spot market on sluggish demand. At the Multi Commodity Exchange, lead for delivery in August declined by 55 paise, or 0.38 per cent to Rs 145.80 per kg in business turnover of 592 lots. Similarly, the metal for delivery in September shed 55 paise, or 0.37 per cent to Rs 146.50 per kg in 32 lots. Analysts said off-loading of positions by participants owing to slackened demand from consuming industries in the physical market, mainly weighed on lead prices down at futures trade.
Global Markets: Asian stocks capped, dollar hits two-week peak as trade war dents confidence
TOKYO (Reuters) - Asian stocks inched up on Friday, following a tech-led rise on Wall Street, although the latest exchange of trade threats between Beijing and Washington limited gains and drove safehaven flows to the dollar, which brushed a two-week high.
July sees strongest service sector growth since October 2016: PMI
India's services sector activity remained in the growth territory for the second consecutive month in July, as business activity witnessed the strongest growth since October 2016 amid improved demand conditions, says a monthly survey. The seasonally adjusted Nikkei India Services Business Activity Index rose from 52.6 in June to 54.2 in July, as new businesses rose at the fastest rise since June 2017. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction. "July data was encouraging as the service sector observed the best performance since October 2016, underpinned by the strongest gain in new orders since June 2017," said Aashna Dodhia, Economist at IHS Markit, and author of the report. Amid reports of improved demand conditions, business confidence towards the 12-month outlook picked up from June's recent low. Subsequently, firms raised their staffing levels at the strongest pace since April. Meanwhile, the headline seasonally adjusted Nikkei
Bookkeeper: Paul Manafort kept close track of bills
Paul Manafort's bookkeeper testifies that the former Trump campaign chairman approved "every penny" of the personal bills she paid for him. But he kept her in the dark about the foreign bank accounts he was using to buy millions in luxury items and pay personal expenses. The bookkeeper's testimony yesterday appears to undercut an argument by Manafort's defense attorneys that he can't be responsible for financial fraud because he left the details of his spending to others. Manafort faces charges of bank fraud and tax evasion that could put him in prison for the rest of his life. It's the first courtroom test of Mueller's team.
Triumph of the iPhone: Apple cracks trillion-dollar mark
Apple is the world's first publicly traded company to be valued at USD 1 trillion, the financial fruit of stylish technology that has redefined what we expect from our gadgets. The milestone reached yesterday marks the latest triumph of a trend-setting company that two mavericks named Steve started in a Silicon Valley garage 42 years ago. Apple's shares gained USD 5.89 to close at USD 207.39, leaving the company's market value a notch above USD 1 trillion around USD 1,001,679,220,000, according to FactSet. Apple sits atop a US stock market that has become dominated by technology-centred companies: Amazon, Google's parent Alphabet, Microsoft and Facebook round out the top five in market value. The achievement seemed unimaginable in 1997 when Apple teetered on the edge of bankruptcy, with its stock trading for less than USD 1, on a split-adjusted basis, and its market value dropping below USD 2 billion. To survive, Apple brought back its once-exiled co-founder, Steve Jobs, as interim ..