Page 3355 - Business Finance

Cabinet approves Revitalising Infrastructure and Systems in Higher Education (RISE) by 2022

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Sensex down 47 points in early trade

The BSE Sensex slipped over 47 points to 35,598.06 in early trade today, following intense selling pressure in consumer durables, metal and realty stocks amid sustained capital outflows by foreign funds. A deprecating rupee against the dollar also dampened the sentiment. Asian markets were trading lower as investors look for direction amid growing global trade war tensions. Wall Street closed for a public holiday. US President Donald Trump's new tariffs on Chinese imports deadline also affected investors' sentiment world over, brokers said. The 30-share index dropped 47.34 points or 0.13 per cent to 35,598.06. The gauge had gained 380.99 points in the previous two sessions. Similarly, the NSE Nifty fell 13.55 points, or 0.12 per cent to 10,756.35. Sectoral indices led by consumer durables, metal, realty, teck, capital goods, healthcare and IT were trading in the negative zone, falling up to 1.29 per cent. Major losers were Tata Motors, Vedanta, Tata Steel, Bharti Airtel, Infosys, HDFC

GTL Infrastructure to allot 27.81 equity shares

On conversion of bonds

IMF cuts German 2018 economic growth forecast to 2.2 percent

BERLIN (Reuters) - The International Monetary Fund (IMF) on Thursday cut its 2018 forecast for German GDP growth to 2.2 percent, saying rising protectionism and the threat of a hard Brexit had exposed Europe's biggest economy to significant short-term risks.

Market opens higher

Key benchmark indices were trading higher in early trade. At 9:20 IST, the barometer index, the S&P BSE Sensex, was up 24.58 points or 0.07% at 35,669.98. The Nifty 50 index was up 9.45 points or 0.09% at 10,779.35.

Hifood Group slumps 11 percent, leading slide in shares of HNA's HK-listed units

HONG KONG (Reuters) - Shares of jewellery maker Hifood Group Holdings, an indirect unit of HNA Group, fell 11 percent on Thursday to all-time lows, leading the slide in Hong Kong-listed stocks related to HNA whose co-chairman died in an accident two days ago.

Greece has means to make debt relief deal work - finance minister

ATHENS (Reuters) - Greece has the capacity to finance itself unaided under a debt relief deal linked to its exit from an international bailout, the country's finance minister said, without ruling out the agreement's long-term fiscal targets could at some point be reviewed.

Rupee falls 12 paise to 68.86 against US dollar

The rupee declined 12 paise to 68.86 against the US dollar in early trade today, pressured by a lower opening in the domestic stock market. Increased demand for the American currency from importers and banks amid persistent foreign fund outflows also weighed on the rupee. Foreign portfolio investors (FPIs) sold shares worth Rs 284.58 crore yesterday, as per provisional data. Forex dealers said the rise of euro and yen against the greenback capped the rupee's fall. Yesterday, the rupee had lost 17 paise at 68.74 against the dollar amid rising crude oil prices and inflationary concerns after MSP hike for kharif crops by the government. Meanwhile, the benchmark Sensex moved down by 25.12 points, or 0.07 per cent, at 35,620.28 in opening trade today.

Global Markets: Asian stocks wobbly before tariff deadline in Sino-U.S. trade row

TOKYO (Reuters) - Asian stocks were shaky while major currencies barely budged in early trade on Thursday, as financial markets remained in a state of anxious uncertainty on the eve of a U.S. deadline to slap tariffs on Chinese imports.

Oil prices fall as Trump demands OPEC "reduce pricing now"

SINGAPORE (Reuters) - Oil prices fell on Thursday after U.S. President Donald Trump sent a strident tweet demanding that OPEC cut prices for crude.

Biocon may gain after receiving EU GMP certification

Biocon has received the EU GMP certification for its Sterile Drug Product manufacturing facility in Bangalore, which was inspected by the European agencies in March 2018. This facility is used for the manufacture of Biocon's portfolio of biosimilars. The announcement was made after market hours yesterday, 4 July 2018.

Shares may see profit booking

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 3 points at the opening bell.

Volkswagen to offer electric carsharing services

Volkswagen will enter the increasingly-crowded German carsharing market with a fleet of purely-electric vehicles, the Wolfsburg-based company announced on Wednesday.

Soon will hold meeting with Indian Bank Association: Suresh Prabhu

Union Minister for Commerce and Industry Suresh Prabhu said that he will soon hold a meeting with Indian Bank Association to discuss the treatment of exports as priority sector lending by the banking system.While addressing major trade houses and exporters, he said, "Exports should be treated as priority sector lending by the banking system. Soon we will be holding a meeting with Indian Bank Association to discuss the issue."Prabhu also discussed a strategy to add USD 100 billion to Indian exports.Further talking about the increasing rate of growth in exports, he said, India's exports may record about 20 percent growth in June."In May, our exports went up by almost 20 percent and it looks like in June also, our rate of growth in exports will be close to 20 per cent," he said.However, according to the Union Minister, these are challenging times for global trade as "countries are taking protectionist measures.

A night in Mandela's prison cell - yours for USD 300k

For rich corporate executives, fine food, expensive wine and five-star hotels come as standard. But one discerning top boss with a spare USD 300,000 will give up creature comforts for a night in the cramped prison cell that was Nelson Mandela's home for 18 years. That is according to organisers of the annual CEO sleepout, an initiative which raises money for various charities. South Africa's first democratic, black president was kept on South Africa's Robben Island prison off Cape Town for much of his 27-year incarceration. A night in his iconic 8-foot by 7-foot (2.4 metres by 2.1 metres) concrete cell will now be auctioned for charity to mark the centenary of prisoner number 46664's birthday. "The suggestion was to auction the cell to raise money to fund the Prison-to-College Pipeline... educating incarcerated people in South Africa," said Liane McGowan, spokeswoman for the CEO SleepOut South Africa adding that details of when the one night only fundraiser will take place, had not ..

U.S. offers German car bosses 'zero tariffs' solution to trade row - Handelsblatt

BERLIN/FRANKFURT (Reuters) - The U.S. ambassador to Germany has told German car bosses that President Donald Trump would suspend threats to impose tariffs on cars imported from the European Union if the bloc lifted duties on U.S. cars, a German newspaper reported on Wednesday.

British Supreme Court rejects Goldman Sachs appeal versus Novo Banco

LISBON (Reuters) - Britain's Supreme Court dismissed on Wednesday an appeal by Goldman Sachs for compensation from Portugal's Novo Banco over a $835 million loan to Novo Banco's bankrupt predecessor, Banco Espirito Santo (BES), which was carved up by the state in 2014.

Gold prices touch one-week high on softer U.S. dollar

CALGARY/LONDON (Reuters) - Gold rose to a one-week high on Wednesday, extending the prior session's rebound from a seven-month low, helped by a softer U.S. dollar and smoldering trade policy tensions, though the prospect of the Federal Reserve raising interest rates further may limit gains.

Brent crude firms on drop in U.S. oil inventories, Iran threat

CALGARY/LONDON (Reuters) - Brent oil rose on Wednesday, driven higher by a threat from an Iranian commander and a drop in U.S. crude inventories for the second week in a row.

Corrected: British Supreme Court rejects Goldman Sachs appeal versus Novo Banco

LISBON (Reuters) - Britain's Supreme Court dismissed on Wednesday an appeal by Goldman Sachs for compensation from Portugal's Novo Banco over a $835 million loan to Novo Banco's bankrupt predecessor, Banco Espirito Santo (BES), which was carved up by the state in 2014.