Page 3315 - Business Finance
China pledges USD 20 billion in loans for Arab states
China will provide Arab states with USD 20 billion in loans for economic development, President Xi Jinping told top Arab officials today, as Beijing seeks to build its influence in the Middle East and Africa. The money will be earmarked for "projects that will produce good employment opportunities and positive social impact in Arab States that have reconstruction needs," said Xi, without providing further details. It is part of a special Chinese programme for "economic reconstruction" and "industrial revitalisation," Xi told participants at a China-Arab States forum in Beijing's Great Hall of the People. Beijing is also prepared to provide another one billion yuan to countries in the region to "build capacity for stability maintenance," Xi said, using a term commonly associated with policing and surveillance. Since taking office, Xi has overseen a concerted effort to expand Chinese influence in the Middle East and Africa, including the construction of the country's first military base
China June producer inflation hits six-month high, limited tariff impact so far
BEIJING (Reuters) - China's producer inflation accelerated to a six-month high in June, lifted by strong commodity prices and threatening to put more pressure on the country's exporters as a trade war escalates between Washington and Beijing.
These factors affect fixed deposit interest rate
Due to the uncertain economic conditions and upheaval in the finance sector, investors are feeling hesitant to invest the money in the equity market due to the high-risk perception.As a result, investors are looking for safer investment avenues which offer assured income and are free from market risks. This has led to a significant increase in the popularity of FD, and a large number of investors are investing their money in fixed deposits to enjoy the various benefits offered by this investment avenue.Fixed Deposits from Bajaj Finance offer one of the best investment options for investors who do not want to expose their money to the market risks and are highly popular amongst investors from various walks of life.Bajaj Finance Fixed Deposits offer one of the highest interest rates in the market starting at 8.40 percent and going up to 8.75 percent. These fixed deposits are rated high on safety and stability and have ICRA's MAAA (stable) rating and CRISIL's FAAA/Stable rating, assuring
Volumes spurt at Thermax Ltd counter
Thermax Ltd registered volume of 1.51 lakh shares by 10:47 IST on BSE, a 139.01 fold spurt over two-week average daily volume of 1084 shares
Steel Strips Wheels jumps after winning order
Steel Strips Wheels rose 4.04% to Rs 1,308 at 10:52 IST on BSE after the company said it bagged largest exports order for truck and trailer aftermarket from USA.
June inflation likely reached highest level in nearly 2 years: Reuters poll
BENGALURU (Reuters) - Indian inflation likely rose to a near two-year high in June, driven by surging oil and food prices, a Reuters poll showed, a development that would strengthen calls for more monetary policy tightening by the Reserve Bank of India.
Panama, China open talks on free trade agreement
Officials from Panama and China are meeting in the opening round of talks to reach a free trade agreement, one year after the two countries established diplomatic relations. The talks started yesterday in Panama City and are expected to last through Friday. Panama's commerce minister says his country hopes to become the point of entry for Chinese investments and products for the region. Augusto Arosemena says that would be a fundamental part of the talks. China is the second largest user of the Panama Canal after the United States. Panama dropped relations with Taiwan and established relations with China in June of last year.
Brent leads crude prices higher as Norway oil workers get ready to strike
TOKYO (Reuters) - Oil prices rose on Tuesday on escalating concerns over potential supply shortages, with Brent crude leading the way as hundreds of oil workers in Norway were set to strike later in the day.
Gold prices inch up amid Brexit uncertainty, steady dollar
BENGALURU (Reuters) - Gold prices edged up on Tuesday, after hitting a two-week high in the previous session, amid political uncertainty over Brexit and as the U.S. dollar held steady.
SRF firms up on setting up new plant in Thailand
SRF rose 2.05% to Rs 1763 at 10:27 IST on BSE after the company announced setting up of a plant in Thailand with an investment of $60 million.
Silver futures harden by 0.19% on global cues
Tracking a firming trend overseas, silver prices went up by 0.19 per cent to Rs 39,960 per kg in futures trade today as speculators increased positions. At the Multi Commodity Exchange, silver for delivery in September moved up by Rs 75, or 0.19 per cent, to Rs 39,960 per kg in a business turnover of 376 lots. Market analysts said, expansion of positions by participants in line with a firm global trend influenced silver futures. Meanwhile, silver rose by 0.06 per cent to USD 16.09 an ounce in Singapore.
Cement, telecom stocks gain
Stocks extended early gains and hit fresh intraday high in morning trade. At 10:24 IST, the barometer index, the S&P BSE Sensex, was up 227.81 points or 0.63% at 36,162.53. The Nifty 50 index was up 61.35 points or 0.57% at 10,914.25. The Sensex was trading well above the psychological 36,000 mark after regaining that level in opening trade. Telecom stocks rose. Cement stocks gained. Positive Asian stocks boosted sentiment on the domestic bourses.
Tesla hikes prices in China as trade war hits carmakers
SHANGHAI (Reuters) - U.S. carmaker Tesla Inc has hiked prices on its Model X and S cars by about 20 percent in China, becoming the first automaker to raise prices in the world's largest automotive market in response to a U.S.-China trade war.
GSFC rises as Govt to release withheld subsidy
Gujarat State Fertilizers & Chemicals rose 1.70% to Rs 110.95 at 9:48 IST on BSE after the company said the government has agreed to release the withheld subsidy on ammonium sulphate.
Japan Stocks gains on upbeat Wall Street lead, weaker yen
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Sensex reclaims 36K-mark in early trade ahead of key earnings
The benchmark Sensex advanced by over 200 points to reclaim the 36,000-mark in early trade today led by gains on IT, realty and capital goods counters, ahead of key quarterly results scheduled later in the day. The 30-share index rose for the third straight day by gaining 203.87 points, or 0.57 per cent, at 36,138.59 in early trade. IT, realty, capital goods, oil and gas, metal, tech, auto, PSU, power and banking stocks led the upward movement, by rising up to 1.16 per cent. The gauge had gained 360.17 points in the previous session two sessions. The NSE Nifty also recaptured the 10,900 mark. The index was trading higher by 61.85 points, or 0.57 per cent, at 10,914.75. Support came from key stocks such as Yes Bank, RIL, Adani Ports, HDFC Bank, Bajaj Auto, SBI, Bharti Airtel, Tata Motors, ICICI Bank, Tata Steel, NTPC, Maruti, Tata Steel, Infosys, Coal India, L&T and HDFC, rising up to 1.72 per cent. Traders said widening of bets by investors ahead of Q1 numbers from IndusInd Bank ..
Australia Market falls on profit booking
Financials stocks were key drag on the benchmark, with top four lenders being notable losers. Among lenders, Commonwealth Bank, ANZ Bank, and National Australia Bank leading the retreat, falling as much as 2%.
Sensex climbs above 36,000
Trading for the day began on a positive note with the Sensex regaining the psychological 36,000 in opening trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 113.28 points or 0.32% at 36,048. The Nifty 50 index was up 33.75 points or 0.31% at 10,886.65. Positive Asian stocks boosted sentiment on the domestic bourses.
HCL Tech gains on buyback plan
HCL Technologies rose 2.14% to Rs 981.85 at 9:34 IST on BSE after the company said its board will meet on 12 July 2018, to consider a proposal for buyback of the equity shares.
Rupee slips 12 paise against US dollar to 68.84
The rupee slipped 12 paise to 68.84 against the US dollar in early trade today due to fresh buying of the American currency by importers amid sustained foreign fund outflows. Forex dealers said the dollar's strength against a basket of some currencies overseas too weighed on the rupee, but a higher opening of the domestic equity markets limited the fall. Yesterday, the local currency had gained 15 paise against the US dollar to close at 68.72 on sustained dollar selling by exporters and banks amid a stellar rally in local equities and losses in the greenback. Meanwhile, the benchmark BSE Sensex climbed 161.08 points, or 0.44 per cent, to 36,095.80 in morning trade. According to provisional data issued by stock exchanges, foreign portfolio investors (FPIs) sold shares worth a net of Rs 569.91 crore yesterday.