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Page 762 - Business Finance

Government explores framework to ensure GST rate cut benefits consumers

The Finance Ministry may explore a clearly-defined broad framework to ensure that cuts in GST rates benefit consumers.

Updated On : 06 Mar 2019 | 2:35 PM IST

TCPS contracted for 1500 ATMs under Indicash's WLA co-branding solution

Within few months of its launch, the model has found acceptance from multiple reputed banks. These include the recent largest co-branding alliance with a leading Payments Bank recognized as India's largest digital wallet player headquartered in Noida for deploying ~1000 ATMs spanning 18 states. Other key banks include Suryoday Small Finance Bank; private banks like Federal Bank; foreign banks like DBS Bank; scheduled commercial banks like The Nainital Bank; and co-operative banks like The Sutex Co-operative Bank, and Solapur Janata Sahakari Bank, amongst others.

Updated On : 06 Mar 2019 | 2:31 PM IST

Japan Nikkei extends losses

Investors are looking for firm details about a possible U.S.-China trade deal that's helped drive a surge in global equities over the past two months. On trade developments, US Secretary of State Mike Pompeo said on Monday he thought the United States and China were "on the cusp" of a deal to end their trade war. Pompeo added on Tuesday that "Things are in a good place, but it's got to be right."

Updated On : 06 Mar 2019 | 2:31 PM IST

Aluminium futures slip 0.31 pc on muted demand

Aluminium prices fell 0.31 per cent to Rs 145.20 per kg in futures trade Wednesday as speculators cut down their positions, taking negative cues from the spot market on muted demand. At the Multi Commodity Exchange, aluminium for delivery in March declined by 45 paise, or 0.31 per cent, to Rs 145.20 per kg in a business turnover of 2,284 lots. Likewise, the metal for delivery in April fell by 60 paise, or 0.41 per cent, to Rs 145.35 per kg in 137 lots. Analysts said, cutting down of positions by traders owing to slackened demand from consuming industries in the physical market weighed on aluminium prices in futures trade.

Updated On : 06 Mar 2019 | 2:25 PM IST

Australia Market gains 0.75%

The Australian Bureau of Statistics announced on Wednesday that GDP had grown by only grew 0.2% for the last quarter of 2018 and just by 2.3% for the year.

Updated On : 06 Mar 2019 | 2:16 PM IST

Samsung unveils latest lineup of its flagship Galaxy S10 devices in India

Samsung Wednesday unveiled the latest lineup of its flagship Galaxy S10 devices in the Indian market, with prices starting at Rs 55,900. The three devices -- S10, S10+ and S10e -- will compete head-on with the likes of Apple's iPhone and Google's Pixel in the premium smartphone market in India. These devices were unveiled in San Francisco on February 20. Samsung Electronics President and CEO (IT & Mobile Communications Division) D J Koh said the company is invested heavily in the Indian market. "We have been making phones here locally since 2007 at the World's Largest Mobile Factory in Noida. And India is home to our Largest Experience Store, which we opened in September 2018 in Bengaluru," he said. Koh said Samsung, in the premium category, has seen tremendous success in the country with its flagship Galaxy series. "We have captured more than half of the market share in the premium segment," he said adding that the company is excited by the opportunities in the Indian market, as

Updated On : 06 Mar 2019 | 2:05 PM IST

Outcome of board meeting of Dolat Investments

Held on 06 March 2019

Updated On : 06 Mar 2019 | 2:04 PM IST

Tesla says working on China import hiccup

Tesla said Wednesday it was working to resume imports of its new Model 3 sedan in China after the company said a labelling hiccup caused problems with customs. Elon Musk's electric car firm denied the issue would impact sales of the vehicle in China, a key market for the automaker as it faces a battle to control costs and maintain profitability. "This error resulted from misprinted labels on certain Model 3 vehicles," a Tesla spokesperson said in a statement. "We have already reached a resolution with Chinese customs, and we are working closely with them to resume clearance procedures on these vehicles," the spokesperson said. Local business weekly Caixin reported Tuesday that China's customs administration had suspended imports of its Model 3 cars and was holding more than 1,600 of the vehicles -- briefly sending Tesla's stock tumbling in the US. Musk is betting on China's growing market for electric cars as regulators push the industry towards an all-electric future. Musk was in ...

Updated On : 06 Mar 2019 | 2:00 PM IST

Silver futures surge 0.29% on global cues

Silver futures traded higher by 0.29 per cent at Rs 38,563 per kg Wednesday after speculators raised bets, driven by a firm trend overseas. Silver for delivery in May traded higher by Rs 111, or 0.29 per cent, at Rs 38,563 per kg in a business turnover of 18,071 lots at the Multi Commodity Exchange. Similary, the white metal to be delivered in July rose by Rs 108, or 0.28 per cent, to Rs 39,155 per kg in 204 lots. Analysts said widening of positions by traders in sync with a firm trend on global markets for precious metals influenced silver prices at futures trade here. In the international market, silver traded higher at USD 15.14 an ounce in Singapore Tuesday.

Updated On : 06 Mar 2019 | 1:55 PM IST

Crude oil declines 0.92% on subdued global cues

Crude oil prices fell 0.92 per cent to Rs 3,968 per barrel in futures trading Wednesday as speculators reduced bets amid a weakening trend overseas. At the Multi Commodity Exchange, crude oil for delivery in March fell by Rs 37, or 0.92 per cent, to Rs 3,968 per barrel in a business volume of 15,825 lots. Analysts said continuous off-loading of holdings by participants in line with a weakening trend in global crude, mainly weighed on crude prices at futures trade here. The oil for delivery in April, too, lost Rs 34, or 0.84 per cent, to Rs 4,012 per barrel in 793 lots. The West Texas Intermediate (WTI) crude fell 0.69 per cent to USD 56.17, while Brent crude, the international benchmark shed 0.56 per cent to USD 65.49 per barrel at the New York Mercantile Exchange.

Updated On : 06 Mar 2019 | 1:50 PM IST

Strong market breadth

Stocks hovered in positive zone in afternoon trade. At 13:24 IST, the barometer index, the S&P BSE Sensex, was up 135.19 points or 0.37% at 36,577.73. The Nifty 50 index was up 46.40 points or 0.42% at 11,034.05.

Updated On : 06 Mar 2019 | 1:50 PM IST

Kerala bankers committee agrees to be soft on beleaguered farmers

With the Kerala government requesting banks to show more empathy towards the state's flood ravaged farmers, the State Level Bankers Committee (SLBC) on Wednesday agreed not to go ahead with recovery procedures on agricultural loans, said a state minister.

Updated On : 06 Mar 2019 | 1:35 PM IST

Gold futures up Rs 208 as participants create position

Gold prices were up by Rs 208 to Rs 32,291 per 10 gram in futures trade Wednesday as speculators raised their bets amid positive global cues. At the Multi Commodity Exchange, gold for delivery in April was trading higher by Rs 208, or 0.65 per cent, to Rs Rs 32,291 per 10 gram in a business turnover of 475 lots. The yellow metal for delivery in far-month June gained Rs 173, or 0.52 per cent, to Rs 32,489 per 10 gram in 5,251 lots. Market analysts attributed the rise in gold prices at futures trade to raising of bets by participants in sync with a positive trend in global markets. Meanwhile, gold was trading 0.41 per cent higher at USD 1,290.05 an ounce in Singapore.

Updated On : 06 Mar 2019 | 1:35 PM IST

Edelweiss Financial Services Ltd soars more than 6%

Edelweiss Financial Services Ltd is quoting at Rs 164.45, up 6.3% on the day as on 12:54 IST on the NSE. The stock is down 35.12% in last one year as compared to a 8.74% gain in NIFTY and a 14.8% gain in the Nifty Financial Services index.