Page 3050 - Business Finance
Market declines on weak Asian signals
Key benchmark indices were trading lower in early trade, mirroring weak Asian cues. At 9:20 IST, the barometer index, the S&P BSE Sensex, was down 141.60 points or 0.38% at 37,380.02. The Nifty 50 index was down 36.75 points or 0.32% at 11,309.45.
GPT Infraprojects advances on new order win
GPT Infraprojects gained 2.71% to Rs 155.50 at 09:45 IST on BSE after the company announced that it has bagged an order valued at Rs 362.16 crore from Rail Vikas Nigam.
Pakistan's inflation soars to 5.8% in July
Pakistan's Consumer Price Index (CPI) inflation soared to 5.8 per cent in July, up from 5.2 per cent in the previous month, thus registering a nearly four-year high.The current inflation rate, although less than figures estimated for the current fiscal, was fuelled by a rise in food inflation, recovery in global commodity prices including oil, consolidating domestic demand and depreciation of the rupee, The Dawn reported.On an annual basis, the food inflation was up 3.5 per cent, and 0.6 per cent on a monthly basis.The prices of non-perishable food items saw a marginal hike of 0.34 per cent, while that of perishable products increased by 2.3 per cent during the month.Non-food inflation increased 7.4 per cent annually and 1.2 per cent on a monthly basis, on account of an increase in oil prices and the impact of a drop in exchange rates on consumers.Meanwhile, core inflation was recorded at 7.6 per cent annually and 1.2 per cent on a monthly basis, excluding volatile food and energy ...
US Senate passes massive defence authorization bill
The US Senate has passed a massive $716 billion defence authorization bill.
Gold demand in the first half was the lowest since 2009 - WGC
LONDON (Reuters) - Global demand for gold fell 6 percent in the first half of this year due mainly to a sharp decline in purchases by exchange traded funds (ETFs), the World Gold Council said in a report on Thursday.
Hero MotoCorp falls after declaring monthly sales
Hero MotoCorp fell 1.23% to Rs 3,231.65 at 9:31 IST on BSE after the company declared modest growth in monthly sales in July 2018 after market hours yesterday, 1 August 2018.
India gold demand to revive in H2 as government supports farmers - WGC
MUMBAI (Reuters) - Indian gold demand is set to improve in the second half of 2018, after falling 6 percent in the first half, as government steps to boost farmers' incomes are expected to lift rural buying power, the World Gold Council (WGC) said on Thursday.
Key Indian equity market indices open flat
The key Indian equity market indices on Thursday opened flat following a muted trend in Asian markets.
Rupee rises 17 paise to hit fresh 1-month high against US dollar
Maintaining its uptrend for the second straight day, the rupee strengthened by 17 paise to a fresh one-month high of 68.26 against the US dollar today after the Reserve Bank of India (RBI) maintained its growth outlook for the economy. The RBI projected a gross domestic product (GDP) expansion rate of 7.4 per cent in 2018-19 on the back of robust macroeconomic environment. Increased selling of the greenback by exporters and banks even as the RBI hiked repo rate by 25 basis points yesterday too boosted the rupee, forex dealers said. The dollar, however, strengthened against some currencies overseas after the US Federal Reserve kept interest rates unchanged, capping the domestic unit's gains, they added. Yesterday, the rupee had gained 11 paise against the US currency to end at a fresh two-week high of 68.43. Meanwhile, the benchmark BSE Sensex was trading lower by 148.54 points, or 0.39 per cent, at 37,521.62 in opening trade.
Gold prices gain as dollar eases against yen
BENGALURU (Reuters) - Gold prices rose on Thursday, recovering from the previous session's fall, as the U.S. dollar edged lower against the Japanese yen.
Negative Asian cues may put pressure on stocks
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 10.50 points at the opening bell.
Hero MotoCorp in spotlight after monthly sales
Hero MotoCorp reported 9% rise in sales to 6.79 lakh units of two-wheeler in the month of July 2018 from July 2017. The company has lined up multiple new product launches ahead of the festive season, including the Xtreme 200R motorcycle and the 125cc scooters. The announcement was made after market hours yesterday, 1 August 2018.
Fed leaves rates unchanged, stays on course for September hike
WASHINGTON (Reuters) - The U.S. Federal Reserve kept interest rates unchanged on Wednesday but characterized the economy as strong, keeping the central bank on track to increase borrowing costs in September.
DBS second-quarter profit jumps 20 percent, misses estimates due to weak trading
SINGAPORE (Reuters) - DBS Group Holdings Ltd, Southeast Asia's biggest lender, reported a 20 percent jump in net profit on Thursday, missing market expectations as the impact of business volume growth was moderated by lower trading income.
RBI rate hike a 'win-win' situation for markets, banks
The Reserve Bank of India's (RBI) decision to raise the repo rate by 25 basis points (bps) to 6.50 per cent is a "win-win" situation for both markets and the banks as inflation is expected to rapidly decelerate to sub-5 per cent in coming months, suggests the report from the Economic Research Department of State Bank of India (SBI).The report has been authored by Dr Soumya Kanti Ghosh, Group Chief Economic Adviser, SBI."The Monetary Policy Committee (MPC) decided to increase repo rate by 25 bps (for the second time in a row) to 6.50 per cent by 5-1 vote and kept the stance neutral. RBI had to choose the timing of rate hike between now and later in the October 2018 policy. However, RBI decided to walk the talk and the rate hike is a win-win situation for both markets and the banks as inflation is expected to rapidly decelerate to sub-5 per cent in coming months and it would have been difficult for RBI to hike then and convince the markets," the SBI report suggested.It further stated ...
Pakistan's inflation hits 4-year peak
The Pakistan Bureau of Statistics (PBS) has said that the Consumer Price Index-based inflation rate in Pakistan has surged to a four-year high in the month of July 2018.
Trump mulls imposing 25% tariffs on Chinese goods
President Donald Trump is weighing the idea of increasing from 10 percent to 25 percent the tariffs imposed on some $200 billion of Chinese products, mainly consumer goods, the Office of the US Trade Representative reported Wednesday.
Asian shares face headwinds from fresh trade worries, bonds fragile
TOKYO (Reuters) - Asian stocks were little changed on Thursday, with sentiment fragile after the latest escalation in Sino-U.S. trade war while global bond markets were rattled by Washington's increased borrowing and Japan's new tolerance for higher yields.
Tesla will tap local debt to fund $2 billion Shanghai Gigafactory: Musk
NEW YORK (Reuters) - Tesla Inc said on Wednesday that it would raise capital from Asian debt markets to fund the construction of its third "Gigafactory," which will be located in Shanghai and cost an approximate $2 billion.
Japan eyes cooperation with India in bamboo craft sector in Tripura
A team from the Japanese Embassy in New Delhi, along with a few bamboo artisans from Japan, are on a two-day visit to Agartala, Tripura, to discuss possibilities of a India-Japan cooperation in bamboo craft sector.The Japanese team, led by Kenko Sone, Minister, Economic and Development, Embassy of Japan, India, is on a visit of the region and arrived here on Wednesday."This is my first visit to Tripura. Since Japan has been focusing on the collaboration in the north-eastern region with the Indian government, one of the areas asking Japan for support is the bamboo crafts. We are very happy to collaborate with Tripura on the same and this collaboration will be expanded to the whole north-eastern region as a whole," Sone told ANI.The team visited Crafts & More, a showroom of unique bamboo handicraft made by artisans, mainly from the tribal section of people, trained and funded under the Tripura JICA (Japan International Cooperation Agency) project."Few bamboo artisans from Japan have