Page 3073 - Business Finance
Samsung leads global smartphone market, Huawei pips Apple
South Korean giant Samsung continued to be the global leader in the first half of 2018 with 20 per cent market share, and Chinese tech conglomerate Huawei surpassed Apple to become the second largest smartphone brand worldwide, a new report said on Wednesday.
Power Grid Corp gains after good Q1 outcome
Power Grid Corporation of India rose 0.46% to Rs 183.05 at 09:34 IST on BSE after the company reported 9.17% rise in net profit to Rs 2240.54 crore on 15.79% rise in total income to Rs 8637.04 crore in Q1 June 2018 over Q1 June 2017.
Trump to propose 25 percent tariff on $200 billion of Chinese imports: source
WASHINGTON (Reuters) - The Trump administration plans to propose slapping a 25-percent tariff on $200 billion of imported Chinese goods after initially setting them at 10 percent, in a bid to pressure Beijing into making trade concessions, a source familiar with the plan said on Tuesday.
Indian farm product tariffs curbing Australian exports: minister
MELBOURNE (Reuters) - Australia's exports of farm products to India have taken a hit because of new tariffs and free trade negotiations between the two countries have stalled, trade minister Steven Ciobo said on Wednesday.
Key equity indices open on high note
The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note during the morning session of the trade.
With record $53.3 bn revenue, Apple eyes $1-trillion mark
Despite slow iPhone sales, Apple is racing ahead to become the world's first trillion-dollar company as it posted revenue of $53.3 billion in its fiscal third quarter -- an increase of 17 per cent from the year-ago quarter.
Market trades with small gains
Key benchmark indices were trading higher in early trade on positive global cues. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 21.86 points or 0.06% at 37,628.44. The Nifty 50 index was up 6.35 points or 0.06% at 11,362.85.
Oil extends decline after biggest monthly slump in 2 years
TOKYO (Reuters) - Oil prices fell on Wednesday after industry data showed U.S. stockpiles of crude unexpectedly rose, starting the new month in negative territory after the largest monthly decline in two years in July.
Polling begins for Sangli, Jalgaon municipal bodies
Polling began at 7:30 am today for elections to two municipal corporations in Maharashtra, where 754 candidates are vying for 153 seats. Polling is being held for the 78-member Sangli-Miraj-Kupwad Municipal Corporation (SMKMC) in Western Maharashtra and the 75-member Jalgaon Municipal Corporation (JMC) in North Maharashtra. The two cities have a cumulative voter population of 7,89,251. As many as 1,013 polling booths have been set up and 5,792 election staff deployed on duty in the two cities, according to State Election Commissioner J S Saharia. Polling is also taking place for ward number 97 of the Vasai-Virar Municipal Corporation. The voting will continue 5.30 pm and the counting will be taken up on August 3. As many as 451 candidates are in fray for 78 seats in the SMKMC, while 303 nominees will vie for 75 seats in Jalgaon. Sangli has 4,24,179 eligible voters, while their number is 3,65,072 in Jalgaon. The Ruling BJP-Shiv Sena have joined hands for the JMC, while the BJP is going
Global Economy: Asian factories slow as China-U.S. trade conflict intensifies
HONG KONG (Reuters) - Manufacturing activity across Asia slowed in July, deepening concerns about the region's economic outlook as an intensifying trade conflict between the United States and China sent shudders through their trading partners.
Trump could raise tariffs further on Chinese goods: Reports
US President Donald Trump is now considering a 25 per cent tariff on USD 200 billion in Chinese imports, more than the 10 per cent previously touted, reports said. The US imposed 25 per cent tariffs on USD 34 billion of Chinese products earlier this month, with plans to add another USD 16 billion of imports, the reports said yesterday. Trump initially threatened to levy 10 per cent on an additional USD 200 billion but that figure may now rise to 25 per cent, sources told the Washington Post and Bloomberg. It would represent a ramping up of pressure over Washington's trade standoff with Beijing. Markets were however steady yesterday, given a boost by hopes for new negotiations. In 2017, the United States had a USD 376 billion trade deficit with China, which it is keen to cut. Trump recently threatened to slap punitive tariffs on all Chinese imports, which accounted for more than USD 500 billion last year.
Positive global cues may further boost domestic shares
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 20.50 points at the opening bell on positive global cues.
Interest rate sensitives in focus ahead of RBI's rate decision
Shares from interest rate sensitive auto, banking and realty sectors will be in focus ahead of the Reserve Bank of India's (RBI) monetary policy decision today, 1 August 2018. RBI raised its benchmark policy repo rate by 0.25% to 6.25% in its second bi-monthly monetary policy for 2018-2019 on 6 June 2018.
Exclusive: Cosmax CEO says he has rejected two takeover offers, wants to stay independent
PANGYO, South Korea (Reuters) - South Korea's Cosmax Inc, the world's biggest cosmetics manufacturer, rejected buyout offers from two large local conglomerates in the past year and has no interest in selling as it expects continued revenue growth propelled by Asian demand, its chairman and chief executive told Reuters.
Asian shares rise, but U.S. tariff plan puts focus back on trade war
SHANGHAI (Reuters) - Asian shares were higher on Wednesday, tracking the firmer Wall Street finish though reports that Washington plans to raise tariffs on $200 billion of Chinese goods have put the focus back on volatile Sino-U.S. trade relations.
Trump to propose 25-percent tariff on $200 billion of Chinese imports: source
WASHINGTON (Reuters) - The Trump administration plans to propose slapping a 25-percent tariff on $200 billion of imported Chinese goods after initially setting them at 10 percent, in a bid to pressure Beijing into making trade concessions, a source familiar with the plan said on Tuesday.
DBS focus: RBI views on liquidity; sees 25bp hike
Singapore banking group DBS said it would be paying attention to the Reserve Bank of India's views on liquidity today and see a 25 bp hike in rates. The bank sees a 25 bp hike accompanied by a neutral stance triggering a small uptick in the 10-year yields followed by consolidation in a 7.65-7.80 per cent range. We will also be paying attention to the RBI's views on liquidity today, but we are not holding our breath for an explicit guidance, said DBS in its daily economic report. Total system liquidity has been declining for a few months, owing to higher currency in circulation and active central bank intervention in the FX markets, it noted. Banking system liquidity slipped into a deficit of Rs 350 billion this week, with the government building cash balances more recently. This is likely to reverse as dividend payments and end-month government spending kicks in. Since the last RBI hike in June, 10-Year and 2-Year bond yields in India have eased by 10-15 bps, from a consolidation in ..
Oil extends decline after biggest monthly slump in two years
TOKYO (Reuters) - Oil prices fell on Wednesday after industry data showed U.S. stockpiles of crude unexpectedly rose, starting the new month in negative territory after the largest monthly decline in two years in July.
Japan July manufacturing activity, new orders slow: final PMI
TOKYO, (Reuters) - Japanese manufacturing activity slowed less than initially reported in July, a revised survey showed on Wednesday, but there are lingering concerns about the economy due to the reduced pace at which new orders increased.
Asian shares rise on trade war relief as investors await data
SHANGHAI (Reuters) - Asian shares rose on Wednesday, following gains on Wall Street, as a report of attempts to renew talks between the United States and China eased trade war fears, but investors will be keeping a close eye on data due today.