Page 396 - Business Finance
Trump raises tariffs on USD 200bn of Chinese goods as trade war escalates
A trade war between the world's two largest economies escalated on Friday after the US more than doubled tariffs on USD 200 billion worth of Chinese products and Beijing vowed to retaliate. The Trump administration's move comes as high-level officials from both sides are attempting to salvage a trade deal in Washington. The higher tariffs will be applied to relevant US-bound goods exported from China on or after Friday, according to a notice from the US Federal Register. Tariffs are taxes paid by importers on foreign goods, so the 25 per cent tariff will be paid by American companies who bring Chinese goods into the country. The US imposed a 10 per cent tariff on USD 200 billion worth of Chinese products - including fish, handbags, clothing and footwear - last year. The US raised tariffs on USD 200 billion worth of Chinese imports from 10 per cent to 25 per cent on Friday, China's Ministry of Commerce said in Beijing. "China expresses deep regret over the development and will have to .
Kajaria Ceramics Board meeting Outcome
On 10 May 2019
US duty hike on $200 bn Chinese imports to exacerbate uncertainty in global trade: Moody's
The US decision to more than double tariff on USD 200 billion Chinese imports to 25 per cent "exacerbates the uncertainty" in the global trading environment and could lead to tighter financing conditions as well as slower growth, Moody's Investors Service said Friday. The US Friday increased tariffs on import of USD 200 billion Chinese products from 10 per cent to 25 per cent. US President Donald Trump has said that such a move was necessary to hold the Asian country to previous commitments, while China's Commerce Ministry has warned that Beijing will not "capitulate to any pressure" and has threatened retaliation. "The 25 per cent tariffs imposed by the US on USD 200 billion of Chinese imports from the previous 10 per cent exacerbates the uncertainty in the global trading environment, further raises tensions between the US and China, negatively affects global sentiment and adds to risk aversion globally. "The higher tariffs could also lead globally to the repricing of risk assets, ...
Gold prices remain flat; silver gains Rs 380 on increased offtake
Gold prices were almost flat at Rs 32,900 per 10 gram in the bullion market here on Friday, while silver rose by Rs 380 to Rs 38,600 per kg on increased offtake by industrial units, according to the All India Sarafa Association. Traders said gold prices rose slightly by Rs 10 on rise in domestic demand. Positive trend overseas also aided the gain in the precious metal. Globally, spot gold was trading marginally higher at USD 1,285.40 an ounce, while silver was up at USD 14.86 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purities advanced by Rs 10 each to Rs 32,900 and Rs 34,730 per 10 gram, respectively. However, sovereign gold held steady at Rs 26,400 per eight gram. Silver ready surged by Rs 380 to Rs 38,600 per kg, while weekly-based delivery dropped by Rs 105 to Rs 37,340 per kg. On the other hand, silver coins held flat at Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.
FAO food price index rises to a 10-month high in April 2019
Except cereals, all the other sub-indices firmed in April 2019
South Indian Bank Ltd leads losers in 'A' group
Venkys (India) Ltd, Hindustan Construction Company Ltd, Tata Steel Ltd and Mahanagar Gas Ltd are among the other losers in the BSE's 'A' group today, 10 May 2019.
SBI jumps after turnaround Q4 show
State Bank of India rose 3.19% to Rs 308.80 at 14:52 IST on BSE after the bank reported net profit of Rs 838.40 crore in Q4 March 2019 compared with net loss of Rs 7718.17 crore in Q4 March 2018.
Gujarat Poly Electronics approval to sell surplus land
On 10 May 2019
Country Condos Ltd leads losers in 'B' group
Arihant Foundations & Housing Ltd, Manaksia Coated Metals & Industries Ltd, Beardsell Ltd and Asian Hotels (West) Ltd are among the other losers in the BSE's 'B' group today, 10 May 2019.
Trump raises tariffs on Chinese goods, Beijing says it will hit back
The Trump administration raised tariffs on 200 billion dollars worth of Chinese imports from 10 to 25 per cent on Friday, escalating trade war between the world's two largest economies.Beijing vowed to retaliate. "China expresses deep regret over the development and will have to take necessary counter-measures," the Ministry of Commerce said in a statement."We hope the United States will meet us halfway, and work with us to resolve existing issues through cooperation and consultation."Trump's decision to proceed with the tariff increase came after a pivotal round of trade talks in Washington on Thursday night failed to produce an agreement to forestall the higher levies, according to The New York Times.The White House said talks would resume again on Friday but it remains uncertain whether the two sides can bridge the differences that have arisen over the past week.In his comments at the White House on Thursday afternoon, Trump vacillated between threatening China and suggesting a ...
Nifty hovers above 11,300
Stocks hovered in positive zone in mid-afternoon trade amid volatility. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 90.47 points or 0.24% at 37,649.38. The Nifty 50 index was up 20.45 points or 0.18% at 11,322.25. Gains were capped as Sino-US trade tensions kept investors on the edge.
Government expenditure for top 3 DBT schemes at Rs 71,500 cr till Feb-end
The government has paid Rs 71,500 crore towards the three major direct benefit transfer (DBT) schemes - Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), National Health Mission (NHM) and food subsidy schemes up to February 2019, according to a Finance Ministry data.
Volumes spurt at Voltas Ltd counter
Voltas Ltd registered volume of 132 lakh shares by 14:19 IST on NSE, a 7.85 fold spurt over two-week average daily volume of 16.82 lakh shares
SBI reports net profit of Rs 838 cr Mar 2019 quarter; trims bad loan ratio
Country's largest lender SBI Friday said it has reported net profit of Rs 838.40 crore in fourth quarter of 2018-19 fiscal on a standalone basis as non-performing assets (NPAs) came down. The state-owned lender had witnessed a net loss of Rs 7,718.17 crore during the corresponding January-March quarter of 2017-18. Income (standalone) during the March quarter of 2018-19 rose by nearly 11 per cent to Rs 75,670.50 crore as against Rs 68,436.06 crore in the same period of the preceding fiscal, the bank said in a regulatory filing. For the full year 2018-19, bank reported a consolidated net profit of Rs 3,069.07 crore. While there was a loss of Rs 4,187.41 crore in the entire 2017-18. Income (consolidated) grew to Rs 3.30 lakh crore for the fiscal year compared to Rs 3.01 lakh crore in 2017-18. State Bank of India (SBI) witnessed improvement in its asset quality as gross NPAs reduced to 7.53 per cent of gross advances at end March 2019, as against 10.91 per cent by end of March 2018. Net ..
CBI probe urged on Thiru Arooran Sugars, banks collusion
The demand for a through probe by the Central Bureau of Investigation (CBI) into the role of bankers in the Rs 450 crore loan sanctioned in the name of farmers, which was credited, instead, to Thiru Arooran Sugars Ltd, has been raised here by a major bank union official and a senior politician.
Nickel strengthens 0.88 per cent on spot demand
Nickel prices edged up by 0.88 per cent to Rs 838 per kg in futures trade Friday amid pick up in demand from alloy-makers at the domestic spot markets. On the Multi Commodity Exchange, nickel to be delivered in May was trading higher by Rs 7.30, or 0.88 per cent, at Rs 838 per kg with a turnover of 14,574 lots. Analysts said expansion of positions by traders, tracking pick up in demand form alloy-makers in the spot market, supported the upside in nickel prices at futures trade here.
Aluminium futures slide 0.24% on muted demand
Aluminium prices softened 0.24 per cent to Rs 147.20 per kg in futures trading Friday as speculators cut bets amid subdued demand at domestic spot market. On the Multi Commodity Exchange, aluminium for delivery in May eased by 35 paise, or 0.24 per cent, to Rs 147.20 per kg in a business turnover of 1,538 lots. Similarly, the metal for delivery in June was trading lower by 5 paise, or 0.03 per cent, to Rs 147.75 per kg in a business turnover of 634 lots. Analysts said offloading of positions by participants, owing to slackened demand from consuming industries in the physical market, weighed on aluminium prices here.
Hindustan Zinc Ltd slips for fifth straight session
Hindustan Zinc Ltd is quoting at Rs 260.95, down 0.46% on the day as on 13:24 IST on the NSE. The stock tumbled 12.67% in last one year as compared to a 4.72% rally in NIFTY and a 22.76% fall in the Nifty Metal index.
Godrej Industries Ltd extends losses
Godrej Industries Ltd is quoting at Rs 470.35, down 0.2% on the day as on 13:24 IST on the NSE. The stock tumbled 20.67% in last one year as compared to a 4.72% rally in NIFTY and a 3.43% spurt in the Nifty FMCG index.
Maruti Suzuki India Ltd down for fifth straight session
Maruti Suzuki India Ltd is quoting at Rs 6613.3, down 0.18% on the day as on 13:24 IST on the NSE. The stock tumbled 24.42% in last one year as compared to a 4.72% rally in NIFTY and a 28.84% fall in the Nifty Auto index.