Page 928 - Business Finance

China ride-hailing giant Didi to lay off 15 percent staff this year - source

SHANGHAI (Reuters) - Didi Chuxing will lay off 15 percent of its staff or about 2,000 people this year, a source said, marking the ride-hailing firm's first major cut back as it grapples with regulatory scrutiny and public backlash over the murder of two of its users.

Volumes soar at Bharat Dynamics Ltd counter

Bharat Dynamics Ltd recorded volume of 24303 shares by 10:48 IST on BSE, a 6.92 times surge over two-week average daily volume of 3512 shares

Asian LNG prices drop to 17-month low on tepid demand

SINGAPORE (Reuters) - Asian spot prices for liquefied natural gas (LNG) continued their downward spiral this week, hitting a 17-month low as the market moved further away from the peak winter demand period and inventories remained high in the region.

Indices extend fall

Key indices extended fall after trading lower in morning trade. At 10:25 IST, the barometer index, the S&P BSE Sensex, was down 145.12 points or 0.4% at 35,731.10. The Nifty 50 index was down 54.05 points or 0.5% at 10,692.

Prozone Intu's Consolidated Revenues up 20% y-o-y to INR 33.9 Crore

/ -- Key Highlights for Q3 FY2019 Consolidated revenue up 20% y-o-y Consolidated EBITDA up by 30.4% y-o-y, EBITDA margin up 440 bps Cash PAT reported during quarter was INR 9.8 crore; up 38% y-o-y Strong operating performance: Leasing of 89% at Coimbatore Mall & 83% at Aurangabad Mall New stores opened during Q3 - 6 at Coimbatore Mall and 8 at Aurangabad Mall Prozone Intu Properties Limited (PIPL), India's leading retail led mixed-use developer, today announced the financial results for the third quarter and nine months ended on December 31, 2018, as approved by its Board of Directors. Commenting on its performance, Nikhil Chaturvedi, Managing Director, Prozone Intu, said, "Prozone Intu is steadily reporting improved financial performance. Our retail assets are consistently delivering accelerated performance in their micro-markets, vindicating our confidence in the rising consumption levels in emerging tier 1 cities. With remarkable improvement in the recorded footfalls and .

Oil hits 2019 highs on OPEC cuts, U.S. sanctions

SINGAPORE (Reuters) - Brent crude oil prices hit 2019 highs above $65 per barrel on Friday, spurred by U.S. sanctions against Venezuela and Iran as well as OPEC-led supply cuts.

Nestle India declines after Q3 results

Nestle India fell 2.17% to Rs 10,381.45 at 10:21 IST on BSE after net profit rose 9.6% to Rs 341.76 crore on 11.2% increase in net sales to Rs 2,878.83 crore in Q4 December 2018 over Q4 December 2017.

Board of Harita Seating Systems approves draft composite scheme of arrangement

At meeting held on 14 February 2019

China imposes anti-dumping tariffs on Brazilian chicken

China announced anti-dumping duties on Brazilian chicken Friday, saying investigations had revealed that poultry imports had done "substantive damage" to the domestic broiler industry. The tariffs -- ranging from 17.8 percent to 32.4 percent -- will take effect from February 17 and remain in place for five years, the commerce ministry said. Some companies that have pledged to import at not lower than an agreed minimum price will be exempt, it added. Brazil is the largest source of frozen chicken meat in China, accounting for nearly 85 percent of all imports in 2017, according to China industry consultancy Zhiyan. The tariffs result from a probe on poultry imports which started in August 2017. China's move on Brazilian chicken comes as the United States pushes for greater access to Chinese agriculture and poultry markets amid ongoing trade talks in Beijing. The Chinese market has been closed to American poultry products since 2015 due to an outbreak of avian flu in the US. Brazil, the

Alibaba in talks to buy stake in German wholesaler's China outlets: Report

Alibaba's interest comes after rival Tencent last year signed a partnership deal with France's Carrefour

Gold range bound as dollar caps gains; investors eye trade talks

Gold traded in a tight $3 range on Friday as concerns over an economic slowdown supported prices for the safe-haven metal and a firm dollar kept a lid on gains.

China ride-hailing giant Didi to lay off 15 percent staff this year: source

SHANGHAI (Reuters) - Beijing-based ride-hailing giant Didi Chuxing will lay off 15 percent of its staff this year, or about 2,000 employees, a source familiar with the matter told Reuters on Friday.

Glenmark Pharmaceuticals Ltd Falls 4.27%, S&P BSE Healthcare index Drops 1.48%

Glenmark Pharmaceuticals Ltd has lost 11.24% over last one month compared to 4.72% fall in S&P BSE Healthcare index and 1.39% drop in the SENSEX

ONGC jumps after strong Q3 outcome

ONGC rose 3.48% to Rs 136.70 at 9:29 IST on BSE after net profit rose 64.8% to Rs 8,262.70 crore on 20.4% increase in net sales to Rs 27,694.09 crore in Q3 December 2018 over Q3 December 2017.

A2Z Infra Engineering Ltd Spurts 5%, S&P BSE Utilities index Rises 1.05%

A2Z Infra Engineering Ltd has lost 0.08% over last one month compared to 9.58% fall in S&P BSE Utilities index and 1.4% drop in the SENSEX

Market nudges lower in early trade

Domestic stocks edged lower in early trade on negative Asian stocks. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 37.81 points or 0.11% at 35,838.41. The Nifty 50 index was down 22.80 points or 0.21% at 10,723.25.

Rupee declines 17 paise against US dollar in early trade

The rupee weakened by 17 paise to trade at 71.33 against the US dollar in opening session Friday following sustained demand for the greenback from importers amid foreign fund outflow and rising global crude prices. The dollar's gain against major world currencies also impacted the rupee sentiment, forex dealers said. At the forex market, the rupee opened weak at 71.22 and slipped further to quote 17 paise down at 71.33 against the US dollar. Brent crude futures, the global benchmark, climbed to USD 65.04 per barrel by rising 0.63 per cent. Strengthening US dollar and persistent outflow from the domestic capital market weighed on the domestic currency. Foreign portfolio investors (FPIs) sold shares worth a net Rs 250.23 crore Thursday, provisional data showed. On Thursday, the rupee had depreciated by 36 paise to close at 71.16 per US dollar. Meanwhile, the benchmark BSE Sensex fell 34.73 points, or 0.13 per cent, to 35,841.49 in early trade.

GSPC seeks LNG cargo for March delivery: sources

SINGAPORE (Reuters) - India's Gujarat State Petroleum Corp (GSPC) is seeking a liquefied natural gas (LNG) cargo for delivery in March, two industry sources said on Friday.

Board of Scanpoint Geomatics approves rights issue of Rs 9.97 cr

At meeting held on 14 February 2019

China's producer prices slow for seventh straight month, raising deflation fears

BEIJING (Reuters) - China's factory-gate inflation slowed for a seventh straight month in January to its weakest pace since September 2016, raising concerns the world's second-biggest economy may see the return of deflation as domestic demand cools.