Page 825 - Business Finance
Global Markets: U.S.-China trade hopes lift stocks; oil at 3-month high
NEW YORK (Reuters) - Stocks rose in major markets on Friday on bets of progress in trade talks between the United States and China, while crude futures hit their highest in over three months, supported by ongoing supply cuts.
Corrected: Exxon, Microsoft strike cloud computing agreement for U.S. shale
(Reuters) - Exxon Mobil Corp and Microsoft Corp have agreed to use cloud technology in the U.S. oil producer's shale operations, they said on Friday, helping to boost profitability in the nation's largest shale field.
Tech stocks lift Wall Street amid trade hopes
(Reuters) - U.S. stocks rose on Friday as technology shares were boosted by signs of progress in the ongoing trade talks between the United States and China.
U.S., China resume talks on thorniest issues in trade war
WASHINGTON (Reuters) - Top U.S. and Chinese trade negotiators met on Friday to wrap up a week of talks that have seen the two sides struggle to detail how to bridge deep differences on China's role in global commerce.
Asian spot prices hit new lows as oversupply weighs
LONDON (Reuters) - Asian spot prices for liquefied natural gas (LNG) dropped to new lows this week as sporadic spot demand failed to change the overall trend of oversupply in the market.
BSES-EESL join hands to offer Delhiites energy-efficient appliances
In a move to promote energy efficiency, Delhi power distribution company (discom) BSES on Friday signed an agreement on a strategic partnership with Energy Efficiency Services Ltd (EESL) to launch a 12-month pilot "Energy Efficient Appliance Program".
Agnivesh Agarwal steps down as chairman of Hindustan Zinc
Vedanta Group firm Hindustan Zinc Ltd (HZL) Friday said Agnivesh Agarwal has stepped down as chairman of the company. "Agnivesh Agarwal has informed that he is stepping down as chairman and director of Hindustan Zinc Ltd to pursue other interests," the company said in a filing to the BSE. According to the company's website, Agarwal was appointed on the board with effect from November 15, 2005. He is an industrialist with knowledge of business operations and experience in efficiently managing large projects, business restructuring and strategic planning. He is also the director of Sterlite Iron and Steel Company Ltd, the website said. Hindustan Zinc is one of the leading integrated producers of zinc-lead with a capacity of 1.0 million tonne per annum and a leading producer of silver.
Thirty years on, U.S.-China politics and tech collide
LONDON (Reuters) - "U.S. EASES CURBS ON EXPORTS TO CHINA" read a Reuters headline on March 1, 1989, when Washington lifted long-standing restrictions on technology shipments to China.
Oil hits new 2019 high on U.S.-China trade talk hopes
LONDON (Reuters) - Oil prices rose on Friday, supported by OPEC's ongoing supply cuts and hopes that Washington and Beijing may soon end their trade dispute.
Science, technology has triggered growth: Harsh Vardhan
India's science and technology achievements have steadfastly triggered the countrys growth and delivered socio-economic development, Union Minister Harsh Vardhan said Friday. India was among the top ranking countries in the field of basic research, he said. He was delivering the keynote address at the special session on the concluding day of the two-day 'Global R & D Summit 2019', organised by FICCI in partnership with the Department of Science and Technology here. According to him, the year 2018 has seen the country's research and development with technology-led innovation getting further recognition as one of the most powerful instruments of growth and development. "Department of Science and Technology with the objective of promoting new areas of science and technology, plays the role of a nodal department for organising, coordinating and promoting science and technology activities in the county," he said. A survey conducted by DST showed that India was among the .
Jet Airways shareholders approve conversion of loan into shares
Shareholders of Jet Airways have approved conversion of loan into shares and other proposals as the crisis-hit carrier seeks to fly out of financial turbulence. During the extraordinary general meeting (EGM) on Thursday, the shareholders also approved alterations to the company's Articles of Association and Memorandum of Association. According to a filing to the stock exchanges on Friday, Jet Airways said shareholders have approved five proposals that were put up for voting at the EGM. Nearly 98 per cent of shareholders gave their nod for "conversion of loan into shares or convertible instruments or other securities", a move that assumes significance amid the carrier looking to restructure debt as well as raise fresh funds. Increase in the authorised share capital and consequent alteration to share capital clause of Memorandum of Association has been cleared. Shareholders gave their nod for alterations of the Articles of Association of the Company, 'Object Clause' and 'Liability ...
Allahabad Bank using Centre's capital infusion to come out of PCA
In a bid to come out of the Prompt Corrective Action framework, state-run Allahabad Bank on Friday said it has used the Rs 6,896 crore capital infusion fund, received from the Central government, to make loan loss provision in order to bring down the net NPA ratio and also to shore up its capital base.
Pact signed to modernise jetty at Kochi naval base
: To increase the berthing capacity of naval ships here, the Indian Navy Friday signed a memorandum of understanding (MoU) with the Cochin Port Trust to modernise the ancient north jetty at the naval base. The MoU facilitates the reconstruction and expansion of the north jetty as a modern jetty with facilities for berthing of major naval ships and would be taken up at an approximate cost of Rs 600 crore, a defence press release said. The new jetty is expected to be completed within four years, the release said. The MoU was signed by Commodore Ishan Tandon, Chief Staff Officer (Technical), Headquarters, Southern Naval Command, and AV Ramana, chairman in-charge, Cochin Port Trust, in the presence of dignitaries from the navy and the Cochin Port Trust, it added.
Water deal crucial for Kenya oil project might slip into third quarter: Tullow
NAIROBI (Reuters) - A deal with local Kenyan authorities that would allow Tullow Oil to pump water to pressurise oil wells, crucial for a final green light for the country's only oil project, may be slightly delayed to the third quarter, a Tullow executive said on Friday.
5G holds potential to catalyse higher overall economic growth: Trai
The advent of 5G will touch and change lives "like never before" and has the potential to act as catalyst to higher overall economic growth of the country, the Telecom Regulatory Authority of India (Trai) said Friday. In a white paper on 'Enabling 5G in India', the telecom regulator said while 5G will bring new capabilities to fore in areas such as telesurgery and autonomous vehicles, harnessing its full potential would require substantial amount of investment for roll-out of services. The paper said spectrum availability is one of the most important issues in the 5G vision. "In order to realise the potential of 5G; it is crucial that enough spectrum is made available in appropriate frequency bands," Trai said. "Use of spectrum within three different frequency range (sub-1 GHz, 1-6 GHz, above 6 GHz) support varying requirements of all use cases. Spectrum sharing technique such as licensed shared access (LSA) improves spectrum utilisation. Also, unlicensed spectrum coupled with ...
Canada's Barrick Gold considers hostile $19 bln bid for Newmont Mining - media
MELBOURNE (Reuters) - Canada's Barrick Gold Corp is considering a hostile bid for Newmont Mining Corp for about $19 billion in stock, in what would potentially be one of the largest-ever mining deals, the country's Globe and Mail newspaper reported.
Swedish entertainment group MTG sells Nova TV to Bulgarian investor
SOFIA (Reuters) - Swedish entertainment company MTG is to sell Bulgaria's leading commercial media company Nova Broadcasting to Bulgarian Advance Media Group in a 185 million euro ($209.48 million) deal, the companies said on Friday.
M'rashtra govt to dip into contingency fund for drought relief
The Maharashtra government has decided to draw Rs 2,000 crore from its contingency fund to undertake relief measures in the drought-affected areas. As per a Government Resolution (GR) issued on February 21, the amount drawn from the contingency fund was over and above the Rs 2,909 crore disbursed to farmers from 151 drought -hit talukas who suffered crop losses. The sum of Rs 2,000 crore being drawn from the contingency fund will be released at the divisional level, the government order said. Farmers who have suffered more than 33 per cent crop loss are being given financial assistance in two instalments.
UBS sticks to dividend, capital return plans after French verdict
LONDON (Reuters) - UBS plans to stick to its proposed dividend for 2018, CEO Sergio Ermotti said on Friday, two days after the Swiss bank was hit with a 4.5 billion euro ($5.1 billion) penalty in a French tax ruling that the bank has appealed.
Wall Street opens slightly higher, Kraft Heinz weighs on consumer staples
(Reuters) - U.S. stocks opened slightly higher on Friday on hopes of a trade deal between the United States and China, but a 26 percent plunge in Kraft Heinz Co hit the consumer staples sector.