Page 3350 - Business Finance
German factories hit higher gear, but backdrop uncertain
BERLIN (Reuters) - Industrial orders in Germany bounced back in May to support expectations of an economic upturn, though simmering trade and political tensions may yet act as a brake on growth.
Sensex ends lower; Infosys weighs
(Reuters) - Indian shares ended little changed on Thursday, dragged down by heavyweights such as Infosys Ltd and Reliance Industries Ltd, amid jittery Asian markets ahead of a deadline for imposition of further U.S. tariffs on China.
Hong Kong Hang Seng finishes 0.2% lower
China markets have taken a hit ahead of the Friday deadline, with the benchmark Shanghai composite last week falling into bear market territory, referring to a drop of at least 20% from recent highs.
Shares end lower amid negative Asian cues
The market ended with losses as a looming deadline for imposition of US tariffs on China worried investors across Asia. The barometer index, the S&P BSE Sensex, fell 70.85 points or 0.20% to 35,574.55, as per the provisional closing data. The Nifty 50 index fell 20.15 points or 0.19% to 10,749.75, as per the provisional closing data.
India should take new bold reforms in agri-food sector: OECD-ICRIER report
Stating that India's agro-food sector is at a critical juncture, facing multiple challenges, a new OECD-ICRIER report suggested to the government to launch new bold policy initiatives and accelerate existing reforms to achieve higher agriculture growth and ensure better income to farmers. The report 'Agriculture Policies in India' pointed out that the gross farm revenue declined 6 per cent annually between 2014 and 2016 period because of low market prices even as farmers got large subsidies for various inputs like fertilisers, power and irrigation. "Farmers in India face complex domestic market regulations and import and export trade restrictions, which together often lead to producer prices that are below comparable international market levels," the Organisation for Economic Co-operation and Development (OECD) and the Indian Council for Research on International Economic Relations (ICRIER) said. Recommending series of reforms, the report said the government should not resort to ...
Gold holds steady amid easing dollar ahead of Fed minutes
BENGALURU (Reuters) - Gold prices traded in a narrow range on Thursday, after hitting a one-week high in the previous session, amid an easing dollar and as markets awaited the U.S. Federal Reserve's June policy meeting minutes for outlook on monetary policy.
Indore Municipal Corp lists bonds on NSE
Following the footsteps of urban bodies like Hyderabad and Pune, Indore Municipal Corporation (IMC) today listed its bonds on the debt market platform of the National Stock Exchange (NSE). IMC is the civic governing body of the city of Indore, ranked as the cleanest city in the country. Indore Municipal Corporation issued bonds aggregating Rs 100 crore with green shoe option of Rs 70 crore on June 29 and received an overwhelming response with an over-subscription of 1.26 times. "We have plans to tap bond market for the development of infrastructure in the state. After successful bond issue of Indore Municipal Corporation, we are expecting at least three more issuances of municipal corporate bonds from MP in next 3 to 4 months, namely Bhopal, Jabalpur and Gwalior," Madhya Pradesh chief minister Shivraj Singh Chouhan said after listing here. Madhya Pradesh is home to large infrastructure projects and is fast becoming a hub for emerging listed corporates. Over 18 companies
Central Asian global financial hub AIFC opens in Astana
The Astana International Finance Centre (AIFC) was officially inaugurated here on Thursday in the presence of Kazakhstan President Nursultan Nazarbayev almost three years after he signed a law to establish it.Thursday's inaugural ceremony in national capital Astana was attended by people from all walks of life, including heads of state, politicians, and representatives of international companies, the scientific community and financial analytical centers. The President of Kazakhstan will also be a witness to the signing of several agreements between finance ministers of several countries who are attending the event.The official unveiling ceremony of the AIFC, a financial free zone, is being projected by the Government of Kazakhstan as a key event of the Astana Finance Days.The AIFC has been set up with the objective of creating an attractive environment for investment, development of Kazakhstan's securities market, its integration with other internationally recognized financial ...
China: Stocks extend losses ahead of US tariff on Chinese goods
China markets have taken a hit ahead of the Friday deadline, with the benchmark Shanghai composite last week falling into bear market territory, referring to a drop of at least 20% from recent highs.
Japan: Nikkei falls 0.78% amid US-China trade-war frictions
Market participants were concerns over the negative implications of the US trade war with rest of the world. A trade war between the US and the rest of the world may lead to a global financial crisis. The United States is due to impose the tariffs on Chinese exports on July 6. The US also imposed tariffs on cars from Europe. Although Japan has not been on the receiving end of U.S tariffs, a global trade war could be devastating for the Japanese economy, which is heavily dependent on its export sector.
Australia: Market gains 0.5% on bargain hunting
Local market traded in green territory after a flat opening, as investors chased for bottom hunting on recently battered stocks. However, market topside was capped as investors were concerns over the negative implications of the US trade war with rest of the world. A trade war between the US and the rest of the world may lead to a global financial crisis. The United States is due to impose the tariffs on Chinese exports on July 6. The US also imposed tariffs on cars from Europe.
Cable TV stocks slide as RIL announces launch of Jio GigaFiber
Shares of the four cable television service provider dropped 3.64% to 14.37% at 15:09 after Reliance Industries announced the launch of fixed-line broadband service Jio GigaFiber from 15 August 2018.
Bank of England's Carney says confident UK slowdown was temporary
NEWCASTLE, England (Reuters) - Bank of England Governor Mark Carney said on Thursday that he now had more confidence the British economy's weak start to the year reflected bad weather, comments that are likely to spur expectations of an interest rate hike next month.
Power tariff remains unchanged in West Bengal
The power tariff in West Bengal remained unchanged for 2017-18 despite rise in fuel costs, the state's Electricity Regulatory Commission (WBERC) said today. "After review, we have not increased the tariff for 2017-18 keeping the interest of consumers in mind, in spite of huge pressure from the major utilities to increase the tariff," WBERC chairman R N Sen told PTI. Private utility the CESC and the state run West Bengal State Electricity Distribution Company Limited (WBSEDCL) have put pressure on the Commission to hike the tariff due to rise in fuel costs, he said. The CESC covers Kolkata and Howrah, while the WBSEDCL caters to the consumers of rest of the state. The WBERC had earlier declared the 2017-18 tariff as per multi-year tariff scheme, but based on demand by the utilities, the tariff is reviewed but the tariffs remained unchanged. The CESC had asked for a revised tariff of around Rs 8.40 per unit and WBSEDCL had sought about Rs 7.70 per unit. But the average ...
CSS Corp named a "Leader" in NelsonHall's NEAT for Cognitive IT Infrastructure Management Services
CSS Corp, a new-age IT services and technology support company, announced today that it has been named as a "Leader" in NelsonHall's NEAT for Cognitive IT Infrastructure Management Services, in the Server-Centric Services Capability market segment. NelsonHall is a leading independent global analyst firm for the business and IT services industry. The report evaluates 15 top vendors providing cognitive and intelligent automation services for global enterprises to manage the complexity of IT operations and business environments.NelsonHall's NEAT for Cognitive IT Infrastructure Management Services report has recognized Contelli, CSS Corp's indigenous cognitive automation platform for its adoption of AI and analytics in IT automation. Contelli leverages the transformative potential of cognitive technologies to drive the customers' service delivery operations, accelerating growth and predictability. It is a context-driven automation platform that can harmonize, orchestrate, and modernize IT
IDAP Global introduces the first complete Derivatives Ecosystem for Crypto Assets
Following the widespread approbation of their white paper on ICO for its candor, depth and transparency and on the development of the platform itself, IDAP Global is now gearing up to introduce the first complete Derivatives Ecosystem for Crypto Assets.Though there are over 200 exchanges across the world today offering crypto trading of major cryptocurrencies, with few of them even offering derivatives like BTC futures or ETH options, there are almost none that offer traders in capital and forex markets with crypto trading choices that provides them protection from direct exposure to cryptocurrencies while also offering low risk alternatives.Awanish Rajan, Founder and CEO, IDAP Global said, "Being in the trading business for almost a decade, we have a firsthand experience of all the issues that one faces - lack of diversity in trading instruments, poor customer support, underwhelming interfaces, unsophisticated tools for professional traders and the trading platforms being unconducive
Hathway Cable & Datacom Ltd leads losers in 'A' group
Den Networks Ltd, Hindustan Construction Company Ltd, Infosys Ltd and Titan Company Ltd are among the other losers in the BSE's 'A' group today, 05 July 2018.
Zinc prices weaken on global cues, low demand
Zinc prices weakened by Rs 2 per kg at the non-ferrous metals market today on the back of weak global cues amid easing demand from consuming industries. Traders said apart from a weak trend overseas, fall in demand from consuming industries at domestic spot market, weighed on zinc prices. Globally, zinc for delivery in three-month tumbled 3.2 per cent to finish at USD 2,700 a tonne, the lowest since June last year on the London Metal Exchange yesterday. In the national capital, zinc ingot shed Rs 2 at Rs 135-141 per kg. Following are today's metal rates (in Rs per kg): Zinc ingot Rs 135-141, nickel plate (4x4) Rs 885-888, gun metal scrap Rs 227, bell metal scrap Rs 229, copper mixed scrap Rs 428, chadri deshi Rs 295. Lead ingot Rs 140, lead imported Rs 147, aluminium ingots Rs 168, aluminium sheet cutting Rs 164, aluminium wire scrap Rs 164 and aluminium utensils scrap Rs 162.
Sugar prices remain steady in muted trade
Sugar prices ruled steady at the wholesale market in the national capital today with prices by and large after moving both ends on little bouts of buying and selling, ended same on last levels. Marketmen said sporadic buying by stockist and bulk consumers amid adequate stocks position managed to hold sweetener prices unaltered. Following are today's quotations (in Rs per quintal) Sugar retail markets - Rs 36-41 per kg. Sugar ready: M-30 Rs 3,550-3,880, S-30 Rs 3,540-3,870. Mill delivery: M-30 Rs 3,450-3,740, S-30 Rs 3,440-3,730. Sugar millgate (including duty): Mawana Rs 3,550, Kinnoni Rs 3,740, Asmoli Rs 3,660, Dorala Rs 3,550, Budhana Rs 3,560, Thanabhavan Rs 3,550, Dhanora Rs 3,620, Simbholi Rs 3,620, Khatuli Rs 3,670, Dhampur Rs 3,490, Sakoti 3,450, Modinagar 3,480, Shamli 3,470, Malakpur 3,480, Ramala not available, Anupshaher N.A, Baghpat N.A., Morna N.A., Chandpur N.A., Nazibabad N.A and Nanota N.A.
CIL Nova Petrochemicals Ltd leads losers in 'B' group
N K Industries Ltd, Khaitan (India) Ltd, GTPL Hathway Ltd and Palash Securities Ltd are among the other losers in the BSE's 'B' group today, 05 July 2018.