Page 3719 - Business Finance
Crude oil prices claw back losses, but record U.S. output weighs
SINGAPORE (Reuters) - Crude oil futures erased earlier losses on Friday but the U.S. benchmark price was set to lose ground for the second week, squeezed by record U.S. production and expectations of OPEC boosting output.
Fiat Chrysler boss to tackle Europe, bet on Jeep in his last lap
BALOCCO, Italy (Reuters) - Fiat Chrysler boss Sergio Marchionne is expected to show on Friday how the carmaker plans to fix lagging margins in Europe, grow Jeep into a global giant and catch up in electric and self-driving cars - all without him in the driving seat.
Gold steady amid renewed trade tensions
BENGALURU (Reuters) - Gold prices were steady in Asian trade on Friday on renewed fears of a global trade war, while a firm dollar and positive U.S. economic data weighed on the market.
KPIT Technologies Ltd rose for a third straight session today
The stock is quoting at Rs 284.95, up 2.83% on the day as on 12:59 IST on the NSE. KPIT Technologies Ltd is up 144.07% in last one year as compared to a 11.06% gain in NIFTY and a 28.63% gain in the Nifty IT index.
Jeera futures rises on spot demand
Jeera prices rose 1.23 per cent to Rs 16,400 per quintal in futures trade today after participants widened their positions, backed by rising domestic and export demand. Besides, tight stocks position on restricted supplies from producing regions supported the upmove. At the National Commodity and Derivatives Exchange, jeera for delivery in June contract rose by Rs 200, or 1.23 per cent, to Rs 16,400 per quintal, with an open interest of 4,353 lots. Likewise, contract for July increased by Rs 185, or 1.14 per cent, to Rs 16,380 per quintal, as the open interest of contract stood at 2,577 lots. Traders said speculative positions built up by participants amid rising domestic as well as export demand led to the rise in jeera prices.
Preview: Saudi Arabia may raise Asia official oil prices in July for a second month
SINGAPORE (Reuters) - Top oil exporter Saudi Arabia may raise the official selling prices (OSP) for most of the crude grades it sells to Asia in July for a second month, possibly raising flagship Arab Light to its highest since February 2014, trade sources said on Friday.
U.S. allies hit back at Washington's steel, aluminum tariffs
WASHINGTON/PARIS (Reuters) - Canada and Mexico retaliated on Thursday after Washington imposed tariffs on steel and aluminum imports while the European Union had its own reprisals ready to go, reviving investor fears of a global trade war.
Deutsche Bank says financial strength 'beyond doubt' after ratings downgrade
FRANKFURT (Reuters) - Deutsche Bank's chief executive sought to reassure staff on Friday that the lender was financially sound, after a ratings downgrade and a share price slide in the wake of a report saying the U.S. regulator viewed the lender as "troubled" last year.
Guar gum futures spurt by Rs 92/quintal
Guar gum prices firmed up by Rs 92 to Rs 7,769 per quintal in futures trade today on the accumulation of positions by speculators, triggered by a strong trend at the physical markets. At the National Commodity and Derivatives Exchange, guar gum to be delivered in July shot up by Rs 92 or 1.20 per cent to Rs 7,769 per quintal, with a business turnover of 40,250 open lots. Guar gum to be delivered in June rose by Rs 86 or 1.14 per cent to Rs 7,660 per quintal, with an open interest of 24,405 lots. Marketmen said building up of positions by participants, tracking a firm trend at the spot markets led to the rise in guar gum prices at futures trade.
M Venkatesh takes over as Mangalore Refinery MD
M Venkatesh today took over as the Managing Director & CEO of Mangalore Refinery and Petrochemicals, a subsidiary of state-owned Oil and Natural Gas Corp (ONGC). Venkatesh, 53, replaced H Kumar, who superannuated yesterday. "M Venkatesh is a chemical engineer having over three decades of experience in oil and gas sector," Mangalore Refinery and Petrochemicals Ltd (MRPL) said in a regulatory filing. Before taking over as MD & CEO, he was Director (Refineries) at MRPL. He has been appointed for a five year term which is extendable till his superannuation in January 2025. A chemical engineer from MIT Manipal, he started his career as a trainee in Indian Oil Corp (IOC) in 1988.
Petrol price cut by 6 paise, diesel by 5 paise
The trend of miniscule reduction in petrol and diesel prices continued for the third consecutive day today with oil firms cutting rates by 6 paise and 5 paise a litre respectively. The reductions follow softening of international oil rates and the rupee gaining against the US dollar. Petrol in Delhi now costs Rs 78.29 a litre, down from Rs 78.35, according to a price notification issued by state-owned oil firms. Diesel rates have been cut to Rs 69.20 per litre from Rs 69.25. Prices vary from state-to-state depending on local sales tax or VAT. Delhi has the cheapest price among all metros and most state capitals. This is the third reduction in rates coming after 16 days of relentless price hikes that followed lifting of a nearly three-week hiatus on price revision just before Karnataka went to polls. Petrol price was yesterday cut by 7 paise a litre and diesel by 5 paise. On Wednesday rates were cut by 1 paisa each. These reductions followed rates touching an all-time high of Rs 78.43 .
Japan Stocks end mixed on U.S. trade jitters
Powered by Capital Market - Live News
Nifty, Sensex edge down as banks drag; auto stocks gain
(Reuters) - Indian shares edged lower on Friday as losses in financials offset gains in auto stocks, with investor focus shifting to the progress of seasonal rains in a country where more than half the population is dependent on agriculture.
IRCTC case: Court grants time to CBI to prosecute accused
A Delhi court on Friday granted one month time to the Central Bureau of Investigation (CBI) to procure sanction from concerned authorities to prosecute an accused in a graft case against former railway minister Lalu Prasad Yadav and his family members related to the allotment of Indian Railway Catering and Tourism Corporation (IRCTC) hotels.The court directed the CBI to get the required nod and prosecute an additional member of railway board B.K. Agarwal, who was the then group general manager of IRCTC.The next hearing on the matter is slated for July 27.Earlier in April, the CBI filed a chargesheet against Lalu, his wife Rabri Devi and 14 others as part of an investigation in the IRCTC hotel tender case.The investigation revealed that Lalu had entered into a conspiracy with the proprietors of a private hotel based at Patna and others, and in pursuant to the said conspiracy, managed undue favours to them through certain officers of the IRCTC, New Delhi, in exchange for the leasing of .
Texprocil appreciates pro-active steps taken by the Govt. in resolving issues affecting exports of cotton textiles
The Finance Minister Piyush Goyal and the Textile Minister Smriti Zubin Irani held a meeting with Texprocil and other Textile Export Promotion Councils and Associations on 27.05.2018 to discuss issues relating to matters of taxation and promotional schemes affecting textile exports.In a statement, Ujwal R Lahoti, Chairman, Texprocil expressed his sincere gratitude to the Ministers of Finance and Textiles for having patiently listened to the issues which are impacting exports of cotton textiles from India.Lahoti pointed out in the meeting that even though the exports of cotton textiles have shown an increase of 7 percent during the previous financial year 2017-18 and reached USD 11 Bn, it has the potential to reach USD 20 Bn in the next 5 years, if the Government were to support the sector with a few policy measures like refund of embedded taxes (which has also been recognised by the Economic Survey for the year 2017-18), extending the innovative Refund of State Levies (ROSL) scheme ...
CoinTribe raises USD 10 Mn from Sabre Partners and existing investors
India's leading credit based lending marketplace for MSMEs, CoinTribe on Friday announced raising over USD 10 million equity capital in Series-B round led by Sabre Partners along with participation from existing investor, Puneet Dalmia.As a credit based marketplace, CoinTribe offers unsecured term as well as working capital financing to small businesses, which are risk assessed using an online lending algorithm.Gurugram based CoinTribe is a niche player in small business segment and stands differentiated with its robust online credit risk assessment capabilities, which has found strong acceptance with its lending partners. CoinTribe is India's only lending marketplace which has back-tested its credit algorithm with leading private banks in the country and has so far partnered with leading banks and NBFCs, which include Axis Bank, Yes Bank, RBL Bank, DBS, IIFL, Clix Capital and SMC Capital. Apart from lending through the marketplace CoinTribe is the only player whose technology ...
Market turns volatile
Volatility ruled the roost in early afternoon trade as the key benchmark indices reversed intraday gains. At 12:19 IST, the barometer index, the S&P BSE Sensex, was down 35.68 points or 0.1% at 35,286.70. The Nifty 50 index was down 25.55 points or 0.24% at 10,710.60. Realty stocks declined. Shares of banking major ICICI Bank advanced.
Australia Market closed softer as trade war fears grow
Powered by Capital Market - Live News
Tips Industries Ltd leads gainers in 'B' group
Visagar Polytex Ltd, Maharashtra Seamless Ltd, Shriram EPC Ltd and India Motor Parts & Accessories Ltd are among the other gainers in the BSE's 'B' group today, 01 June 2018.
Crude oil futures down on weak Asian trend
Crude oil futures eased 0.22 per cent to Rs 4,507 per barrel today as speculators reduced positions amid a weakening trend in Asian markets. At Multi Commodity Exchange, crude oil for delivery in June traded Rs 10 or 0.22 per cent lower, at Rs 4,507 per barrel in 2,252 lots. Oil for July delivery contracts also moved down by Rs 6, or 0.13 per cent, to Rs 4,519 per barrel in 43 lots. The trading sentiment dampened in futures trade after oil lost more ground on pressure from record US production and expectations of higher OPEC output, analysts said. US crude production has been rising to record-high levels since late last year. In March it jumped 215,000 barrels per day (bpd) to 10.47 million bpd, a new monthly record, the Energy Information Administration (EIA) said yesterday. Meanwhile, West Texas Intermediate (WTI) crude was down 17 cents, or 0.25 per cent, to USD 66.87, while Brent crude eased 8 cents, or 0.10 per cent, to USD 77.48 a barrel on the New York Mercantile Exchange.