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  • ITC to soon foray into dairy business

    Kolkata, July 31 (IANS) Leading FMCG company ITC Ltd. will shortly be foraying into dairy products, its chairman Y.C. Deveshwar said here on Friday. "Dairy products are on the anvil," he said, during the company's Annual General Meeting. He said ITC Ltd. has emerged as one of the fastest growing … More »

    IANS - 10 minutes ago
  • ICICI Bank Q1 net beats estimates, bad loans ease

    ICICI Bank Ltd , India's biggest private sector lender by assets, reported a 12 percent rise in quarterly profit, beating estimates, and its bad loan ratio fell sequentially, sending its shares higher ... … More »

    Reuters - 13 minutes ago
  • Asia shares face July drop on worst China loss in 6 years

    Asia shares face July drop on worst China loss in 6 years

    SINGAPORE/TOKYO (Reuters) - Asian shares inched higher on Friday but were still set to post a loss for July, led by China's biggest monthly drop in six years. The dollar edged away from highs scaled after U.S. GDP data reinforced expectations that the Federal Reserve is likely to raise interest … More »

    Reuters - 1 hour 4 minutes ago
  • China watchdog probes automated trading as stocks slip again

    China's securities watchdog is investigating the impact of automated trading on share markets, as authorities step up a crackdown on what they regard as heavy speculative selling that could destabilise the world's second-largest economy. China's main share markets, both among the world's five … More »

    Reuters - 1 hour 8 minutes ago
  • ArcelorMittal keeps forecast despite worse market view

    ArcelorMittal, the world's largest producer of steel, retained its 2015 profit outlook, although it cut its forecast for global steel consumption this year with declining demand for steel in all regions except Europe. ArcelorMittal said the global steel market should be flat in 2015, compared to a … More »

    Reuters - 1 hour 30 minutes ago
  • Greece's Tsipras asserts control over party with congress vote

    Greece's ruling Syriza movement backed a call on Thursday from Prime Minister Alexis Tsipras to hold an emergency party congress as he seeks to assert his control over rebel lawmakers balking at new bailout talks. At a meeting of the Syriza movement's 200-member central committee held in an old … More »

    Reuters - 2 hours 42 minutes ago
  • China stocks look set for biggest monthly loss in six years

    China stocks fell on Friday and looked set to suffer their biggest monthly loss in nearly six years even as Beijing rolled out a series of support measures and promised to step up efforts to bolster the flagging economy. China CSI300 stock index futures for August fell 0.1 percent to 3,678.6, but … More »

    Reuters - 2 hours 45 minutes ago
  • Uber to invest $1 billion in India in next 9 months

    Uber to invest $1 billion in India in next 9 months

    Uber Technologies Inc will invest $1 billion in India in the next nine months as the online ride hailing company is bullish on the Indian market. Uber said it would use the additional investment to improve operations, expand into newer cities, and develop new products and payment solutions. "Uber … More »

    Reuters - 3 hours ago
  • Sensex surges 235 points in early session

    Mumbai, July 31 (IANS) A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), on Friday was trading at 235.15 points or 0.85 percent up during the morning session. The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 27,814.51 points, was trading at … More »

    IANS - 3 hours ago
  • Gold heads for longest weekly losing streak in 16 years

    Gold heads for longest weekly losing streak in 16 years

    Gold slipped to near 5-1/2-year lows on Friday and was on course for a sixth straight weekly fall, its longest retreat since 1999, after upbeat U.S. economic data strengthened expectations for a near-term hike in interest rates. Spot gold was down 0.3 percent at $1,084.60 an ounce by 0240 GMT, … More »

    Reuters - 4 hours ago
  • China's little secret: a thriving, free market in shares

    China's little secret: a thriving, free market in shares

    Far away from the glare of China's stock market chaos, stampede of sell orders and freeze on new listings, the spirit of free markets is alive and kicking right in the nation's capital. A small stock exchange set up in Beijing three years ago to attract small and medium-sized companies, the … More »

    Reuters - 8 hours ago
  • Wall Street ends flat; Expedia flies after the bell

    Wall Street ends flat; Expedia flies after the bell

    Wall Street ended flat on Thursday as investors digested ho-hum corporate earnings and new data showed that the economy grew more quickly in the second quarter. Procter & Gamble , Facebook and Whole Foods ... … More »

    Reuters - 9 hours ago
  • Gathering rate hike hopes lift dollar, Treasury yields

    Gathering rate hike hopes lift dollar, Treasury yields

    The dollar touched one-week highs and shorter-term U.S. Treasury yields rose on Thursday as accelerating U.S. gross domestic product data encouraged bets policymakers will start hiking U.S. interest rates ... … More »

    Reuters - 10 hours ago
  • Western Union profit falls 2.3 percent

    Western Union Co reported a 2.3 percent fall in quarterly profit as it earned lower fees from its money-transfer services. The company's net income fell to $189.3 million in the second quarter ended June ... … More »

    Reuters - 11 hours ago
  • Amgen profit tops Street view, boosts full-year forecast

    Amgen Inc on Thursday reported higher-than-expected second quarter profit and revenue, helped by strong sales of its Enbrel rheumatoid arthritis drug and cost cutting, and the company raised its full-year ... … More »

    Reuters - 11 hours ago
  • Pininfarina says still hoping to agree sale to Mahindra

    Troubled Italian car designer Pininfarina (PNNI.MI) is still hoping to clinch a sale to Indian vehicle maker Mahindra and Mahindra (MAHM.NS) but has begun drafting a stand-alone business plan as its financial position worsens. Pininfarina forecast on Thursday a full-year operating loss and said it … More »

    Reuters - 11 hours ago
  • Facebook says drone ready for real-world testing later this year

    Facebook says drone ready for real-world testing later this year

    Facebook Inc (FB.O) announced on Thursday it has completed building its first full-scale drone, which has the wingspan of a Boeing 737 and will provide Internet access to the most remote parts of the world. The plane will weigh about 880 pounds (400 kg), said Yael Maguire, the company's … More »

    Reuters - 11 hours ago
  • Oil dips as robust dollar offsets stock drawdown

    Oil dips as robust dollar offsets stock drawdown

    Global benchmark Brent neared a six-month trough earlier this week and U.S. futures neared four-month lows, pressured by a global glut, a resurgent dollar and China's tumbling stock market. Oil prices got support on Wednesday after U.S. government data showed an unexpectedly large weekly draw of … More »

    Reuters - 12 hours ago
  • GE may ship $10 billion in work overseas as U.S. trade bank languishes

    General Electric Co (GE.N) is taking steps to shift some U.S. manufacturing work overseas now that the U.S. Export-Import Bank will be shuttered at least until September, the industrial giant's global operations boss told Reuters on Thursday. GE Vice Chairman John Rice said the conglomerate is … More »

    Reuters - 12 hours ago
  • Gold falls 1 percent as dollar rises on Fed rate hike expectations

    Gold falls 1 percent as dollar rises on Fed rate hike expectations

    NEW YORK/LONDON (Reuters) - Gold fell 1 percent on Thursday to a near a 5-1/2-year low as the dollar rose after data showed the U.S. economy improved in the second quarter, supporting views that the Federal Reserve would lift rates by year-end. The U.S. Department of Commerce said gross domestic … More »

    Reuters - 12 hours ago
  • Oil companies slash spending, jobs as prices slide for second time

    The stark reality of a much-feared second dip in crude prices is prompting global oil majors and nimble U.S. shale companies alike to axe spending once again a year after the first price crash started. Just days into the second-quarter earnings season, Chevron Corp (CVX.N) and Royal Dutch Shell … More »

    Reuters - 12 hours ago
  • L'Oreal says sales growth to accelerate in H2

    French cosmetics group L'Oreal (OREP.PA) sees sales growth accelerating in the second half as demand in Western Europe and the United States improves. The world's biggest cosmetics group said on Thursday positive exchange rate movements helped to produce its strongest revenue growth in twenty … More »

    Reuters - 13 hours ago
  • OPEC says oil should not fall further, sees stability in 2016

    OPEC expects increasing oil demand to prevent a further fall in prices and sees a more balanced market in 2016, its secretary-general said on Thursday, the latest sign the group is sticking to its policy of defending market share. Oil has dropped about 15 percent this month and halved in value in … More »

    Reuters - 13 hours ago
  • Urban Ladder unveils new app for home shoppers

    Bengaluru, July 30 (IANS) Leading online furniture and home decor firm Urban Ladder on Thursday unveiled an app to helps users choose products that will suit their homes. "Users can visualize their room(s) through our new app and buy furniture to their requirement and choose decor products of … More »

    IANS - 14 hours ago
  • Step aside, here come Europe's hot economies: Spain and Ireland

    Spain reported on Thursday that its economy grew 1 percent between the first and second quarters of the year and is running at an annual clip of 3.1 percent. Ireland, meanwhile, issued a delayed report on its first quarter. Spain and Ireland have suffered badly over the past few years as their … More »

    Reuters - 14 hours ago
  • No artificial under-valuation of land by PSUs

    New Delhi, July 30 (IANS) Denying that public sector undertakings engage in artificial under-valuation of land in their books, the government on Thursday told parliament that they are free to get their assets assessed at current market value while accessing bank finance. "PSUs are free to get … More »

    IANS - 15 hours ago
  • First Tizen developer summit begins in India

    Bengaluru, July 30 (IANS) Linux Foundation on Thursday said that over 1,000 developers participated in the Tizen Developer Summit (TDS), which began in Bengaluru from Wednesday. "TDS is being held in India for the first time and has attracted companies and organizations such as InMobi, Unity, … More »

    IANS - 15 hours ago
  • India needs to consider Africa as a single market: Ghanian envoy

    Kolkata, July 30 (IANS) India needs to consider Africa as a whole and not simply focus on individual countries as places for investment, the Ghanian envoy to India said here on Thursday. "India needs to look for strategic investment in Africa and consider the entire continent as a single market," … More »

    IANS - 15 hours ago
  • Industry stakeholders bat for women in top management

    New Delhi, July 30 (IANS) A fortnight after the Indian stock exchanges cracked the whip on companies not having a woman director, industry stakeholders on Thursday said women must become a critical part of the top management because of business necessity rather than to fulfil a legal obligation. … More »

    IANS - 15 hours ago
  • Programmes held to boost Chinese tourists' arrivals: Minister

    New Delhi, July 30 (IANS) To ramp up arrival of Chinese tourists in India, the tourism ministry organised tourist facilitator programmes for tour operators handling tourists from the communist nation, union minister Mahesh Sharma said. "The ministry of tourism organised a Chinese Tourist … More »

    IANS - 16 hours ago
  • Mobikwik introduces cash pickup facility

    New Delhi, July 30 (IANS) Mobile wallet company MobiKwik on Thursday launched its "Cash Pickup" service, a facility that allows cash to be directly added to MobiKwik wallet. The service, which will soon be launched across all major cities in India, is currently available in Delhi-NCR area. … More »

    IANS - 16 hours ago
  • Colgate-Palmolive's net profit falls 15.3 percent in Q1

    Kolkata, July 30 (IANS) Despite a surge in its income, consumer products firm Colgate-Palmolive (India) Ltd on Thursday posted a decline of 15.3 percent in its net profit at Rs.114.28 crore for the first quarter of the current fiscal. The company's net income from operations in the quarter rose by … More »

    IANS - 16 hours ago
  • Petronet aims to lease out 63 pct of Dahej LNG capacity

    Petronet LNG aims to lease out about two-thirds of the capacity at its Dahej import terminal in Gujarat over the next four years to boost revenue and prevent the facility falling into disuse. The company, which handles large volumes of liquefied natural gas (LNG) imported from Qatar for Indian … More »

    Reuters - 16 hours ago
  • Lulu Group to open Cold Stone Creamery outlets in India, Sri Lanka

    Kochi, July 30 (IANS) Dubai-based Lulu Group' food and beverage entity, Tablez Food Company Pvt.Ltd India, has signed a master franchise agreement with Cold Stone Creamery's franchisor Kahala Franchising ... … More »

    IANS - 16 hours ago
  • Thomas Cook India's Q1 net profit down 31 percent

    Mumbai, July 30 (IANS) Travel and tourism service firm Thomas Cook India on Thursday reported a decrease of 31 percent in its net profit for the first quarter of the current fiscal. According to the company, its net profit stood at Rs.24.88 crore in the quarter under review from Rs.36.06 crore for … More »

    IANS - 16 hours ago
  • Global stock markets can deliver robust returns despite FX swings - study

    Investors allocating funds across global stock markets can earn an average return of up to 12 percent a year despite currency swings, a study showed on Thursday. "This leaves significant returns available to investors allocating money across global stock markets when returns are measured in an … More »

    Reuters - 16 hours ago
  • Hindustan Construction's Q1 net profit down 70 percent

    Mumbai, July 30 (IANS) Hindustan Construction on Thursday reported a 70 percent fall in its net profit for the first quarter of the current fiscal. According to the company, its net profit stood at Rs.8.02 ... … More »

    IANS - 16 hours ago
  • Kotak Mahindra Bank sees cost rise after ING Vysya deal

    Kotak Mahindra Bank, India's fourth-biggest private sector lender by assets, expects its credit costs to jump this fiscal year as it makes more provisions related to its purchase of smaller local rival ING Vysya Bank, it said on Thursday. Kotak Mahindra agreed in November to buy ING Vysya for $2.4 … More »

    Reuters - 16 hours ago
  • Political gridlock holds up India's landmark tax reform

    Parliament is unlikely to approve a landmark tax shakeup in its current sitting, a new setback for Prime Minister Narendra Modi's reform agenda that makes it harder to meet a deadline to launch the new levy by next April. Failure to pass the bill for a nationwide goods and services tax (GST) in … More »

    Reuters - 16 hours ago
  • NTPC Q1 net falls 3 percent on lower generation

    New Delhi, July 30 (IANS) State-run power generator NTPC on Thursday reported a 3 percent fall in net profit for the first quarter ended June due to lower generation and plant efficiency as denoted by plant load factor (PLF). The company posted a net profit of Rs.2,135 crore for the first quarter … More »

    IANS - 17 hours ago
  • Dr.Reddy's net up 14 percent in Q1

    New Delhi, July 30 (IANS) Dr.Reddy's Laboratories posted net profit of Rs.625.65 crore for the first quarter of 2015-16, up 14 percent to Rs.550.39 crore in the corresponding period in 2014-15. In a filing ... … More »

    IANS - 17 hours ago
  • Railways seek passenger feedback on bedrolls

    New Delhi, July 30 (IANS) To improve customer amenities, Indian Railways on Thursday started a survey to seek passenger preference of bedrolls required during train travel. According to the railways, a detailed questionnaire on the bedrolls like bedsheets, towels, pillows and blankets has been … More »

    IANS - 17 hours ago
  • Consumer spending bolsters U.S. second-quarter growth

    Consumer spending bolsters U.S. second-quarter growth

    U.S. economic growth accelerated in the second quarter as solid consumer spending offset the drag from weak business spending on equipment, suggesting a steady momentum that could bring the Federal Reserve closer to hiking interest rates this year. … More »

    Reuters - 18 hours ago
  • SBM net up 25 percent in Q1

    Bengaluru, July 30 (IANS) State-run State Bank of Mysore (SBM) on Thursday reported Rs.94 crore net profit for first quarter of 2015-16 as against Rs.75 crore in the same period of 2014-15, registering ... … More »

    IANS - 18 hours ago
  • SJVNLA's Q1 profit up 25.53 percent

    New Delhi, July 30 (IANS) With an increase in installed capacity, Satluj Jal Vidyut Nigam Ltd. (SJVNL) has recorded a 24.53 percent increase in net income during the first quarter of this fiscal, it was announced here on Thursday. It is presently generating 2,000 MW of electricity. … More »

    IANS - 18 hours ago
  • Tampering with RBI's autonomy will damage economy: Moody's

    New Delhi, July 30 (IANS) American research firm Moody's Analytics, in a report on Thursday, warned against the NDA government's moves to tamper with the autonomy of the Reserve Bank of India in deciding on interest rates, as being potentially damaging for the economy. The government last week … More »

    IANS - 18 hours ago
  • Procter & Gamble sales fall for sixth straight quarter

    Procter & Gamble Co (PG.N), the world's largest consumer products maker, reported its sixth straight fall in quarterly sales, as the stronger dollar continued to weigh on the value of sales from overseas markets. P&G also said it expected sales to fall in the low-to-mid single digits next year due … More »

    Reuters - 18 hours ago
  • Gold prices drop on global cues

    New Delhi, July 30 (IANS) Gold prices fell globally to near a five-and-a-half year low on Thursday as the dollar strengthened ahead of US economic data, but in India, the price varied between five and five-and-a-half year low. "In India, the price is hovering between five and five-and-a-half year … More »

    IANS - 18 hours ago
  • Mercedes-Benz launches design platform, three new vehicles

    "We are launching in India the 'designo' platform which will offer our customers with innumerable customisation options to choose from, ranging from exclusive paint finishes, high quality interior appointments and trims," said Eberhard Kern, managing director and chief executive, Mercedes-Benz … More »

    IANS - 18 hours ago
  • Turnaround in real estate market may take a year: Report

    Hyderabad, July 30 (IANS) India's real estate market is in bad shape due to credibility crisis faced by the developers and overall macroeconomic scenario and the turnaround may not happen for one more year, said Knight Frank, the leading independent global property consultancy. Stating that all … More »

    IANS - 18 hours ago

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