Page 3741 - Business Finance
Petrol price cut by 7 paise, Diesel by 5 paise per litre
Prices for Petrol and diesel have fallen by 7 paise and 5 paise per litre respectively on Thursday.Petrol in Delhi now costs Rs 78.35 a litre and Diesel 69.25 per litre.The revised Petrol price in other metro cities are- 80.98 in Kolkata, 86.16 in Mumbai, 81.35 in ChennaiWhile the revised Diesel price was 71.80 in Kolkata, 73.73 in Mumbai and 73.12 in Chennai.The fuel price was slashed for the second day after the price remained high for 16 consecutive days.On Wednesday there was 'a drop' in the rates- of one paisa.The Indian Oil Corporation (IOCL) in a statement clarified that the petrol prices in Delhi have gone down by one paisa and not 60 paise, as reported earlier.
China May factory growth at eight-month high, but tight funding hits smaller firms
BEIJING (Reuters) - China's vast manufacturing sector grew at the fastest pace in eight months in May, blowing past expectations and easing concerns about an economic slowdown even as risks from trade tensions with the United States and a crackdown on debt point to a bumpy ride ahead.
Korean Air HQ raided by prosecutors over suspected embezzlement by owning family - Yonhap
SEOUL (Reuters) - South Korean prosecutors raided the headquarters of Korean Air Lines Co Ltd over suspected embezzlement and breach of trust by members of its owning family, Yonhap News Agency reported on Thursday.
ONGC in spotlight after quarterly results
Net profit of ONGC rose 36.3% to Rs 5915.12 crore on 10.4% increase in net sales to Rs 23969.83 crore in Q4 March 2018 over Q4 March 2017. The result was announced after market hours yesterday, 30 May 2018.
Stocks may see volatility; GDP data eyed
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 47 points at the opening bell. Trading could be volatile as traders roll over positions in the F&O segment from the near month May 2018 series to June 2018 series. The May 2018 F&O contracts expire today, 31 May 2018.
Japan's factory output growth slumps in April, dims production prospects
TOKYO (Reuters) - Japan's industrial output was well short of market expectations in April, official figures showed on Thursday, adding to fears for the outlook after the economy contracted in the first quarter.
China May factory growth at 8-month high, but tight funding hits smaller firms
BEIJING (Reuters) - China's vast manufacturing sector grew at the fastest pace in eight months in May, blowing past expectations and easing concerns about an economic slowdown even as risks from trade tensions with the United States and a crackdown on debt point to a bumpy ride ahead.
Buffett proposed to invest $3 billion in Uber, but talks failed - Bloomberg
(Reuters) - Billionaire Warren Buffett had proposed to invest $3 billion in Uber Technologies Inc earlier this year, but the talks failed following disagreements over the deal's terms, Bloomberg reported on Wednesday, citing unidentified people familiar with the matter.
Asia stocks rebound, euro pulls off lows as Italy anxiety cools
TOKYO (Reuters) - Asian stocks rebounded from a two-month trough on Thursday, while the euro enjoyed a respite after sinking to its lowest in 10 months as political turmoil in Italy that had roiled global financial markets showed signs of easing.
Political worries set to check Indian stock market bulls: Reuters poll
BENGALURU (Reuters) - Indian stocks are expected to erase recent losses and rise a little this year, but an array of political developments at home and overseas along with just a steady economic growth outlook will likely restrain the market, a Reuters poll showed.
Political worries set to check Indian stock market bulls: poll
BENGALURU (Reuters) - Indian stocks are expected to erase recent losses and rise a little this year, but an array of political developments at home and overseas along with just a steady economic growth outlook will likely restrain the market, a Reuters poll showed.
Petrol price cut by 7 paise, diesel by 5 paise per litre
Petrol price was today cut by 7 paise a litre and diesel by 5 paise - the second reduction in as many days on the back of softening international oil rates. Petrol in Delhi now costs Rs 78.35 a litre, down from Rs 78.42, according to a price notification issued by state-owned oil firms. Diesel rates have been cut to Rs 69.25 per litre from Rs 69.30. This is the second reduction in rates coming after a 16 day relentless price hike that followed lifting of a nearly three-week hiatus on price revision just before Karnataka went to polls. Petrol and diesel prices were yesterday cut by 1 paisa a litre each. That reduction followed rates touching an all-time high of Rs 78.43 per litre for petrol and Rs 69.31 for diesel in Delhi on Tuesday. 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. In the 16 consecutive increases since May 14, petrol price was hiked by Rs 3.8 per litre and diesel by Rs 3.38.
One paisa cut is meaningless: Moily
Following the marginal one paisa cut in the fuel prices, former Petroleum and Natural Gas Minister M. Veerappa Moily called the Centre, 'cruel'.Talking to media, the former Union Minister said, "Reducing one paisa on petrol is meaningless. This shows that he is mocking the people. These people are putting a lot of excise duty which we have not done during our regime. This is totally burdensome. People are suffering. When in entire Asia the price is so much down, the price in India is very much high. So, it is a very cruel way of dealing with it."Yesterday, the Indian Oil Corporation (IOCL), in a statement, said that the petrol prices in Delhi have gone down by one paisa.On Wednesday, in Delhi, Kolkata, Mumbai and Chennai, petrol retailed at Rs 78.42, Rs 81.05, Rs 86.23 and Rs 81.42 per litre respectively while diesel sold at Rs 69.50, Rs 71.85, Rs 73.78 and Rs 73.17 per litre in Delhi, Kolkata, Mumbai and Chennai respectively.On a related note, Kerala Chief Minister Pinarayi Vijayan ..
Oil prices dip on unexpected growth in U.S. crude stocks
SEOUL (Reuters) - Oil prices dropped on Thursday, weighed down by a surprise rise in U.S. crude inventories and by expectations that OPEC and other producers could increase output at a meeting in June.
Prosecutors to raid Kobe Steel for data tampering - media
TOKYO (Reuters) -
Asia stocks bounce, euro pulls off lows as Italy anxiety ebbs
TOKYO (Reuters) - Asian stocks rebounded from a two-month trough on Thursday, while the euro enjoyed a respite after sinking to its lowest in 10 months as political turmoil in Italy that had roiled global financial markets showed signs of easing.
Exclusive: Reliance to halt oil imports from Iran - sources
NEW DELHI/LONDON (Reuters) - India's Reliance Industries Ltd, owner of the world's biggest refining complex, plans to halt oil imports from Iran, two sources familiar with the matter said, in a sign that new U.S. sanctions are forcing buyers to shun oil purchases from Tehran.
Fed unveils rewrite of 'Volcker Rule' limits on bank trading
WASHINGTON (Reuters) - U.S. regulators on Wednesday proposed simplifying a rule introduced after the 2007-2009 financial crisis that bans banks from trading on their own account in order to make compliance easier for many firms.
Fed, U.S. regulators unveil first 'Volcker Rule' rewrite
WASHINGTON (Reuters) - U.S. regulators on Wednesday proposed simplifying a rule introduced after the 2007-2009 financial crisis that bans banks from trading on their own account in order to make compliance easier for many firms.
Wall Street rebounds as Italy worries ease; energy shares soar
NEW YORK (Reuters) - U.S. stocks ended higher on Wednesday, and the S&P 500 and Dow registered their biggest daily percentage gains since May 4, on signs of easing political turmoil in Italy and as a surge in oil prices boosted energy stocks.