Page 3328 - Business Finance
Tata Steel firms up after good Q1 sales
Tata Steel rose 1.92% to Rs 564.80 at 9:23 IST on BSE after the company reported 8% rise in steel sales in India in Q1 June 2018 over Q1 June 2017.
Market opens on firm note
Trading for the week began on a firm note on positive Asian stocks. At 9:30 IST, the barometer index, the S&P BSE Sensex, was up 173.27 points or 0.49% at 35,831.13. The Nifty 50 index was up 52.20 points or 0.48% at 10,824.85.
Key Indian equity indices open higher
The key Indian equity indices on Monday opened on a higher note.
Pain and pressure: market turmoil pushes some China funds to the brink
SHANGHAI (Reuters) - It's already been a harsh year for Chinese funds, hit by new rules aimed at reining in debt in the country's financial system. Now, the sell-off in China stocks induced by trade war anxiety further threatens their health and for some, their survival.
Smartphone maker Xiaomi's weak Hong Kong debut casts shadow on tech listings
HONG KONG (Reuters) - Chinese smartphone maker Xiaomi Corp's shares fell as much as 6 percent on debut in Hong Kong due to valuation concerns, delivering a blow to investor sentiment in the tech sector where peers have lined up listings in the city.
Market may open on a firm note
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could gain 58 points at the opening bell.
Tata Steel in spotlight after Q1 sales figures
Tata Steel posted an 8% growth in Q1 June 2018 sales led by its highest ever quarterly sales of automotive steels in India. Sales touched 2.97 million tonnes (mt) in Q1 June 2018 against 2.75 mt in same period last year. The announcement was made after market hours on Friday, 6 July 2018.
Smartphone maker Xiaomi's shares open 2.9 percent down on debut in Hong Kong
HONG KONG (Reuters) - Chinese smartphone maker Xiaomi Corp's shares dropped 2.9 percent on debut in Hong Kong on Monday, in a blow to investor sentiment for the tech sector as a raft of peers line up their own listings in the city.
Global Markets: Asia shares rally on U.S. jobs relief, sterling slugged by politics
SYDNEY (Reuters) - Asian share markets rallied on Monday as favourable U.S. jobs data whetted risk appetites, while sterling slipped after two members of the British government resigned over Brexit and put the future of Prime Minister Theresa May in doubt.
Shares in China's Xiaomi fall on Hong Kong debut
Chinese smartphone giant Xiaomi kicked off its trading debut in Hong Kong today, a long-awaited IPO overshadowed by the start of a US-China trade war and bearish investor sentiment. Shares opened at 16.60 Hong Kong dollars (USD 2.12) in Hong Kong, down from their IPO price of 17.00 Hong Kong dollars. Investors felt a lack of confidence even before public trading started, selling their shares at a discount on the unofficial "grey market" last week, Bloomberg News reported. Despite being one of the most anticipated Chinese technology IPOs this year, Xiaomi saw a disappointing valuation of USD 54 billion, well below its ambitious USD 100 billion target. Founded in 2010 by entrepreneur Lei Jun, Xiaomi has grown from a start-up in Zhongguancun -- China's "Silicon Valley" -- to become the world's fourth-biggest smartphone vendor at the end of last year, according to International Data Corp. Lei has described Xiaomi as a "new species" of company with what he describes as a "triathlon" ...
Iran downplays impact of US sanction threats
Iranian Petroleum Ministry has said that there has been no major change in Iran's production and export of crude oil despite US sanction threats.
3,340 building plans given nod online in last two yrs: NDMC
As many as 3,340 building plans have been approved online during the past two years under North Delhi Municipal Corporation's ease of doing business policy, the civic body said today. In a statement, NDMC said 71 occupancy certificates have been issued during this period and about 54 such certificates are under process. "Working on its motto of providing Ease of Doing Business, NDMC has approved 3,340 online building plans in the past two years," it said. North Delhi Mayor Adesh Gupta said: "All alerts or change in statuses (regarding applications) are intimated to the applicant/architects through SMS and email, and digitally-signed certificates/completion plans can be downloaded without the need to visit any NDMC office." He urged owners, who have occupied buildings without getting the completion certificate, to apply for the same through the NDMC website. "No inspection is carried out by the corporation for residential buildings, measuring up to 105 sqm. For these buildings, the ...
Paypal to spend $3 billion a year on M&A - CEO to German paper
FRANKFURT (Reuters) - PayPal Holdings Inc is on the lookout for further acquisitions following its recent takeover of iZettle, the Swedish fintech startup, for $2.2 billion, in the U.S. payments company's biggest ever deal.
Careem planning to spend $150 million to launch food delivery business - sources
DUBAI (Reuters) - Middle East ride-hailing app Careem is planning to spend up to $150 million to launch its food delivery business as early as September, according to two sources with direct knowledge of the matter.
Careem in talks to raise $150 million to launch food delivery business -source
DUBAI (Reuters) - Middle East ride-hailing app Careem is in talks to raise as much as $150 million from existing investors to launch its food delivery business as early as September, according to a source with direct knowledge of the matter.
France says Europe united against U.S. tariffs as Germany eyes negotiation
AIX-EN-PROVENCE, France (Reuters) - The French government insisted on Sunday that Washington should expect united retaliation from Europe to further tariff increases after Germany signalled it was prepared to negotiate.
Fuel prices up for 4th day, petrol at Rs 76.13/litre in Delhi
Fuel prices across the four metro cities rose for the fourth straight day on Sunday caused by hardening of crude rates. due to resumption of US sanctions on Iran, after they had been declining for over a month.
World Cities Summit 2018 kicks off in Singapore
The 6th edition of the biennial World Cities Summit, the leading global platform to drive and connect innovators in sustainable integrated urban solutions, kicked off in Singapore on Sunday.
Pakistan's central bank tightens currency movement after in FATF grey-listing
Pakistan's central bank has decided to tighten the movement of foreign and local currency to combat money laundering after the country was placed on the grey list by the Financial Action Task Force for failing to curb anti-terror financing, according to a media report. Pakistan was placed on the grey list by the global body during its plenary session in Paris last month despite Islamabad submitting a 26-point action plan and launching a concerted diplomatic effort to avert the decision. Radio Pakistan reported that the State Bank of Pakistan (SBP) issued detailed instructions to all exchange companies to bring the currency movements under strict monitoring of the central bank. In order to further strengthen the regulatory anti-money laundering requirements for documentation and record keeping, it has been decided that while carrying out transactions requiring movement of Pakistani rupee and foreign currency within company's authorised network, each outlet of Exchange Companies will be
GoM favours deferment of sops for digital payments under GST by a year
The Sushil Modi led ministerial panel will recommend to the GST Council to defer by a year the proposal to incentivise digital payments under GST, citing revenue implications of doling out concessional tax rate. The panel, in its meeting today, has decided to wait for stabilisation of revenues under Goods and Services Tax and the new return filing systems in the current fiscal before considering differential GST rates for people making payments using the digital mode. Besides, another ministerial panel under Modi, on Reverse Charge Mechanism has decided to recommend powers to the GST Council to notify the registered persons who would come under RCM purview. The meetings of the two Group of Ministers (GoM) were held here today. The recommendations of these ministerial panels will be placed before the GST Council, chaired by Union Finance Minister and comprising his state counterparts, in its next meeting on July 21. Modi said the GoM on digital transaction has decided that this is not .