Page 3288 - Business Finance
Analysis: As Trump amps up trade war, China plays nice with foreign investors
BEIJING (Reuters) - Long accused of protectionist tactics that make it a difficult place for foreign firms to operate, China is trying to reverse that narrative amid an escalating trade war with the United States, green-lighting huge investments and portraying itself as a champion of openness.
India's fuel demand rose 8.7 percent in June
(Reuters) - India's fuel demand rose 8.7 percent in June compared with the same month last year.
Trump, Obama lose followers as Twitter sanitises its platform
US President Donald Trump lost about 100,000 of his 53.4 million followers and former President Barack Obama lost about 400,000 as Twitter began removing locked accounts -- which are disabled owing to suspicious activity -- to sanitise its platform.
Australia Market bounces 0.85% on bottom fishing
Shares of financials were the key contributor to gains for the local bourse with all major lenders in the green around the 2% mark as Australia's banking watchdog on Wednesday said its intense crackdown on risky mortgage lending was largely complete, as higher lending rates were also helping cool the country's housing market. ANZ led the big banks' rally, soaring 2.2% to A$29.20, followed by NAB, up 1.8% to A$28.15, while Westpac gained 1.6% to A$29.76 and Commonwealth Bank rose 1.6% to A$75.21.
Japan: Nikkei jumps 1.2% on bargain buying, weaker yen
Japanese stocks tumbled on Wednesday along with a slide in global equities after the Trump administration raised the stakes in its trade war with China on Tuesday, saying it would slap 10% tariffs on an extra $200 billion worth of Chinese imports. U.S. officials released a list of thousands of Chinese imports the administration wants to hit with the new tariffs, including hundreds of food products as well as tobacco, chemicals, coal, steel and aluminum. It also includes consumer goods ranging from car tires, furniture, wood products, handbags and suitcases, to dog and cat food, baseball gloves, carpets, doors, bicycles, skis, golf bags, toilet paper and beauty products.
Gold falls on weak global cues, lacklustre demand
Gold shed Rs 140 to Rs 31,210 per ten gram today in line with a subdued trend overseas and muted demand from local jewellers. Silver followed suit and slipped by Rs 470 to Rs 40,030 per kg owing to reduced offtake by industrial units and coin makers. Marketmen said apart from a weak global trend, falling demand from local jewellers and retailers at domestic spot market kept the precious metal lower. Globally, gold fell 1.12 per cent to USD 1,241 an ounce and silver by 1.53 per cent to USD 15.78 an ounce in New York in yesterday's trade. In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 140 each to Rs 31,210 and Rs 31,060 per ten gram, respectively. The precious metal had lost Rs 300 in last two days. Sovereign however remained unaltered at Rs 24,800 per piece of eight gram. Tracking gold, silver ready dropped by Rs 470 to Rs 40,030 per kg and weekly-based delivery by Rs 380 to Rs 39,230 per kg. Silver coins however maintained a steady trend at Rs ...
World oil supply risks being 'stretched to limit': IEA
Rising global oil supply, driven by crude giants Saudi Arabia and Russia, may come under pressure as key producers face disruptions, the International Energy Agency said today. The IEA welcomed in its July report last month's agreement between the Organisation of the Petroleum Exporting Countries (OPEC) and Russia to open the taps in order to bring prices down from multi-year highs. But it pointed to supply disruptions in Libya after a string of attacks on infrastructure. It also highlighted continuing unrest in Venezuela and a drop in Iranian exports after President Donald Trump announced he was pulling the United States out of the landmark nuclear deal reached in 2015. "The large number of disruptions reminds us of the pressure on global oil supply," the IEA said. "This will become an even bigger issue as rising production from Middle East Gulf countries and Russia, welcome though it is, comes at the expense of the world's spare capacity cushion, which might be stretched to the ...
Hong Kong Hang Seng gains on bargain hunting
The Chinese and U.S. officials have raised the prospect of resuming talks over trade between the two nations after President Donald Trump ratcheted up the pressure by announcing a huge new round of potential tariffs. Washington and Beijing now have about seven weeks to strike a deal or dig in for a trade war that could upend corporate supply chains and raise prices for consumers around the world.
Corrected: U.S. firms doing business in China mostly oppose tariffs, survey shows
SHANGHAI (Reuters) - Most U.S. businesses operating in China oppose the use of tariffs in retaliation for the challenges they face, from an uneven playing field to poor protection of intellectual property rights, a survey showed on Thursday.
World's oil cushion could be stretched to the limit, IEA warns
LONDON (Reuters) - The world's oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency said on Thursday.
China Stocks rebound on bottom fishing
The Chinese and U.S. officials have raised the prospect of resuming talks over trade between the two nations after President Donald Trump ratcheted up the pressure by announcing a huge new round of potential tariffs. Washington and Beijing now have about seven weeks to strike a deal or dig in for a trade war that could upend corporate supply chains and raise prices for consumers around the world.
As U.S.-China trade war escalates, South Korea warns on impact
SEOUL/BEIJING (Reuters) - The U.S.-China trade war could harm South Korean exports of high-tech components, Seoul warned on Thursday, while Beijing cut its forecast for soybean imports and the Chinese currency fell as worries about fallout from the simmering conflict grew.
Reliance Industries Ltd soars more than 5%
The stock is quoting at Rs 1093.45, up 5.26% on the day as on 12:44 IST on the NSE. Reliance Industries Ltd is up 43.68% in last one year as compared to a 11.78% spurt in NIFTY and a 15.66% spurt in the Nifty Energy.
Axis Bank Ltd up for a fifth straight session today
The stock is quoting at Rs 541, up 0.83% on the day as on 12:44 IST on the NSE. Axis Bank Ltd is up 5.68% in last one year as compared to a 11.78% jump in NIFTY and a 13.38% jump in the Nifty Bank.
South Korea's central bank cuts outlook on trade battle
South Korea's central bank has cut its forecast on the country's economy, citing mounting uncertainties from the US-China trade battle. Bank of Korea today said it lowered its growth outlook on Asia's fourth-largest economy to 2.9 per cent this year, compared with its earlier forecast of 3 per cent growth. The bank says the spiralling trade battles between the world's two largest economies increased potential risks to the South Korean economy. It also says worse-than-expected job rates and slower capital expenditure contributed to its downward growth revision. South Korea's growth is expected to further slow in 2019. Bank of Korea says the South Korean economy is likely to grow 2.8 per cent next year.
Market trades on firm note
Key benchmark indices held firm at higher levels in afternoon trade. At 13:18 IST, the barometer index, the S&P BSE Sensex, was up 405.17 points or 1.12% at 36,671.10. The Nifty 50 index was up 113.45 points or 1.04% at 11,061.75. An overnight slump in crude oil prices and positive global stocks boosted sentiment on the domestic bourses.
Bearish bets on Asian currencies recede slightly, but caution prevails: Reuters poll
(Reuters) - Investors trimmed their bearish positions on emerging Asian currencies over the past two weeks, a Reuters poll showed, although escalating Sino-U.S. tensions worsened the mid-term outlook for regional units.
APEC 2019 to focus on women's role, digital economy
The digital economy and women's role in economic growth will be addressed at the Asia-Pacific Economic Cooperation (APEC) meet in Chile in 2019, authorities have said.
Piramal Enterprises Ltd rose for a third straight session today
The stock is quoting at Rs 2507.9, up 1.15% on the day as on 12:49 IST on the NSE. Piramal Enterprises Ltd is down 14.04% in last one year as compared to a 11.82% gain in NIFTY and a 5.71% gain in the Nifty Pharma index.
China's yuan weakens on trade war fears, stocks rebound
SHANGHAI (Reuters) - China's yuan fell against the dollar on Thursday, knocked lower by the worsening Sino-U.S. trade dispute and after the central bank set its lowest daily fixing for the currency in nearly a year, although stocks clawed back heavy losses.