Page 3458 - Business Finance
Gold extends gains on positive global cues, jeweller-buying
Rising for the second straight day, gold prices advanced by Rs 15 to Rs 31,600 per ten gram at the bullion market today largely in sync with a firming trend overseas amid sustained buying by local jewellers. Silver also reclaimed the Rs 41,000-mark by bouncing by Rs 250 per kg due to increased offtake by industrial units and coin makers. Marketmen said apart from a firm trend overseas as weaker dollar raised demand for the precious metal, sustained buying by local jewellers at domestic spot market kept gold prices higher. Globally, gold rose 0.16 per cent at USD 1,268.90 an ounce and silver by 0.89 per cent at USD 16.43 an ounce in Singapore. In the national capital, gold of 99.9 per cent and 99.5 per cent purity added Rs 15 each to Rs 31,600 and Rs 31,450 per ten gram, respectively. It had gained Rs 15 yesterday. Sovereign gold, however, remained unaltered at Rs 24,800 per piece of eight gram. Silver ready recovered by Rs 250 to Rs 41,000 per kg and weekly-based delivery ...
China's Xiaomi targets Europe as it kicks off IPO
Chinese smartphone maker Xiaomi will aggressively target European markets, using part of the proceeds from its initial public offering worth USD 6.1 billion in Hong Kong, the company's co-founder said today. The company is offering 2.18 billion shares at HK dollar 17-HK dollar 22 apiece, in a bid to raise USD 6.1 billion, far less than the USD 10 billion originally expected, as an escalating trade war between China and the US dampens investor sentiment. But at a press conference in Hong Kong on Saturday, the company's co-founders were bullish about its prospects, signalling plans for international expansion in Europe and Southeast Asia. "Someone asked me if Xiaomi (will) only expand in developing countries? Last year we started to enter the European market and we realised we have a lot of 'Mi fans' in Europe," Lei Jun, Xiaomi's co-founder and CEO said. The company will invest around HK$8.3 billion from its IPO proceeds towards boosting its presence in overseas markets including Spain,
Select edible oil prices edge lower this week
Select edible oil prices drifted lower at the wholesale oil and oilseeds market during the week owing to slackened demand from vanaspati millers against ample stocks position on increased supplies. However, groundnut oil edged up on pick up in demand from retailers. Castor and linseed oils in the non-edible oil section, also finished higher on the back of increased offtake by consuming industries. Marketmen said besides easing demand from vanaspati millers, adequate stocks position on increased supplies from producing regions and a weak trend overseas led to the decline in select edible oil prices. In the national capital, mustard expeller (Dadri) oil declined by Rs 100 to Rs 7,650 per quintal. Mustard pakki and kachani oils followed suit and shed Rs 10 each to Rs 1,265-1,310 and Rs 1,315-1,415 per tin, respectively. Tracking a weak trend overseas, palmolein (RBD) and palmolein (Kandla) oils fell by Rs 100 each to Rs 7,050 and Rs 7,100 per quintal, respectively. Soyabean refined mill .
India, Cuba agree to enhance cooperation in biotechnology, renewable energy
India and Cuba have agreed to enhance cooperation in biotechnology, renewable energy and traditional medicine as President Ram Nath Kovind held wide-ranging talks with his Cuban counterpart Miguel Diaz-Canel to further cement the strong bilateral ties. Kovind, who arrived here on Thursday on the last leg of his three-nation tour which also took him to Greece and Suriname, commenced his engagements here by paying tributes at the statue of Mahatma Gandhi. Leter, Kovind met his counterpart Diaz-Canel. "PresidentKovind held delegation level talks with President Diaz-Canel of Cuba; both countries agreed to enhance cooperation in biotechnology, renewable energy and traditional medicine," Ministry of External Affairs spokesperson Raveesh Kumar tweeted. Cuba also reiterated support for India's candidature for a permanent seat in the UN Security Council. President also addressed the University of Havana on 'India and the Global South'. During his address, Kovind stressed on the need for India .
Fine Organic Industries IPO subscribed 8.99 times
Receives bids for 4.82 crore shares
RITES IPO subscribed 67.24 times
Receives bids for 169.43 crore shares
FPIs turn net buyers
Net inflow of Rs 1309.28 crore on 21 June 2018
FPIs escalate selling
Net outflow of Rs 2377.49 crore on 20 June 2018
India seeks Cuba's help in empowering developing nations
President Ram Nath Kovind has urged Cuba to lead alongside to empower the developing nations, seeking to "play a leading role in enhancing the South-South cooperation".
Netflix fires PR chief over use of racial slur
Netflix has fired its chief communications officer, Jonathan Friedland following the 'insensitive' remarks he made to his team.Friedland used the 'N-word' in a meeting with other staffers, some of whom later reported the incident, reported The Hollywood Reporter."I'm leaving Netflix after seven years. Leaders have to be beyond reproach in the example we set and unfortunately I fell short of that standard when I was insensitive in speaking to my team about words that offend in comedy. I feel awful about the distress this lapse caused to people at a company I love and where I want everyone to feel included and appreciated," Friedland said."I feel honoured to have built a brilliant and diverse global team and to have been part of this collective adventure in building the world's leading entertainment service," he added.Netflix Chief Executive Officer (CEO) Reed Hastings sent a company-wide email explaining Friedland's firing on Friday."I've made a decision to let go of Jonathan ...
US dollar declines as euro climbs
The US dollar declined as euro rose amid positive regional economic data.
US stocks close mixed as energy shares rally
US stocks ended mixed after a weak previous trading session as energy shares rose, boosting the market.
Oil prices rally after OPEC meeting
Oil prices surged as investors were closely watching the Organization of the Petroleum Exporting Countries (OPEC) meeting.
Russia, S.Korea pledge to develop cooperation
Russian President Vladimir Putin and his South Korean counterpart Moon Jae-in have agreed during talks here to develop bilateral cooperation in a range of sectors, the Kremlin said.
Investors turn up pressure on British firms in 2018 AGM season
LONDON (Reuters) - The number of British companies facing material dissent from investors at their shareholder meetings jumped in the first half of the year, with votes against individual directors doubling from 2017.
Greece hails 'historic' debt relief deal
Eurozone countries have agreed a long-awaited debt relief deal for Greece, which has been hailed as "historic".
Trump car tariffs could run European convertibles off U.S. roads
(Reuters) - In the years before he became president of the United States, Donald Trump owned luxury German cars. Now, pricey European convertibles are among the vehicles that could become rare on American roads if Trump's proposal to slap tariffs on imported cars takes effect.
Trump greets EU trade reprisals with threat of steep auto tariff
WASHINGTON (Reuters) - President Donald Trump on Friday threatened to escalate a trade war with Europe by imposing a 20 percent tariff on all U.S. imports of European Union-assembled cars.
Fed may adjust tool on bank reserves again - TD
NEW YORK (Reuters) - The U.S. Federal Reserve may consider tweaking again a tool to control the level of excess bank reserves if a key overnight borrowing cost rises further from current levels, TD Securities strategists said on Friday.
Global shares climb, oil prices jump on OPEC news
NEW YORK (Reuters) - World shares climbed on Friday but were on track for their biggest weekly decline in three months due to trade war fears, though oil prices surged after OPEC decided on a modest production increase.