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LATEST BUSINESS, FINANCE AND MARKET NEWS

  • Gold drops to two-week low as dollar rallies

    Gold drops to two-week low as dollar rallies

    Gold fell nearly 1 percent to a two-week low on Tuesday as the dollar pushed higher following recent comments from Federal Reserve Chair Janet Yellen that reinforced the U.S. central bank's tightening bias on monetary policy. Spot gold was down 0.8 percent at $1,197.46 an ounce by 0644 GMT, after … More »

    Reuters - 15 minutes ago
  • Robust Singapore Q1 GDP surprises, but headwinds loom

    Robust Singapore Q1 GDP surprises, but headwinds loom

    Singapore's economy grew faster than estimated in the first quarter, boding well for the city-state's growth outlook this year, but some signs of drag from uneven global growth are emerging. The surprisingly strong first quarter data bolsters the case for the Monetary Authority of Singapore (MAS) … More »

    Reuters - 27 minutes ago
  • Oil prices drop on stronger dollar, U.S. shale outlook

    Oil prices drop on stronger dollar, U.S. shale outlook

    Crude oil prices edged down on Tuesday, with their recent rally pressured by a stronger U.S. dollar and the possibility of rising U.S. shale output. U.S. crude was 13 cents lower at $59.59 a barrel. "We believe that should West Texas Intermediate prices remain near $60 a barrel, U.S. producers … More »

    Reuters - 33 minutes ago
  • Nikkei up for 8th day, but low volumes may portend imminent correction

    Nikkei up for 8th day, but low volumes may portend imminent correction

    The Nikkei 225 ended 0.1 percent higher at 20,437.48 after flitting between positive and negative territory during the session. "If the stock market is rising with high volume, it's a sign that the market will likely rise further, but when the market is marginally higher on low volume, there is a … More »

    Reuters - 39 minutes ago
  • Asian shares turn higher as China rallies, dollar up

    Asian shares turn higher as China rallies, dollar up

    Asian shares turned higher on Tuesday, reversing earlier losses on the back of gains in Hong Kong and China, while the dollar extended highs scaled in holiday-thinned trading in the previous session and pushed to an eight-year high against the yen. … More »

    Reuters - 43 minutes ago
  • Shake-up in key Samsung assets to cement heir's grip as succession looms

    Samsung Group's de facto holding company on Tuesday sought another cornerstone as it reconstructs South Korea's biggest conglomerate to smooth the path for management succession, offering more than $8 billion to buy an affiliate with a key stake in flagship firm Samsung Electronics. Cheil … More »

    Reuters - 52 minutes ago
  • Google doodle marks US astronaut Sally Ride's 64 birth anniversary

    New Delhi, May 26 (ANI): Google has marked late American astronaut Sally Ride's 64th birthday with its animated doodle. … More »

    ANI - 3 hours ago
  • Charter Communications nears $55 billion deal for Time Warner Cable - sources

    Charter Communications nears $55 billion deal for Time Warner Cable - sources

    A deal would create a major rival to Comcast Corp (CMCSA.O), the biggest operator in the U.S. cable and broadband market, and marks a triumph for Charter, which was rejected by Time Warner Cable just last year. The cash-and-stock deal values Time Warner Cable at $195 per share, according to … More »

    Reuters - 9 hours ago
  • China's Premier Li sees growth of 7.0 percent in 2015

    China's economy is expected to grow at 7.0 percent this year, Chinese Premier Li Keqiang said on Monday. Speaking at the headquarters of the United Nations' Latin American arm ECLAC in Chilean capital Santiago, Li said that data in April and May data showed the Chinese economy had maintained … More »

    Reuters - 10 hours ago
  • Gold edges up as Yellen comments shore up dollar

    Gold edges up as Yellen comments shore up dollar

    Gold prices rose sightly on Monday, even as the dollar gained traction against major currency rivals on signs the U.S. Federal Reserve is preparing to tighten monetary policy for the first time in six years in 2015. Fed Chair Janet Yellen indicated on Friday that the U.S. central bank was poised … More »

    Reuters - 11 hours ago
  • Greece says wants to make debt payments but needs aid urgently

    Greece intends to make good on its debt obligations but needs aid urgently to be able to do so, the government said on Monday, after several senior officials insisted Athens had no money to pay a loan instalment falling due next week. It must repay four loans totalling 1.6 billion euros ($1.76 … More »

    Reuters - 12 hours ago
  • One year on, Prime Minister Modi courts India's poor

    Prime Minister Narendra Modi told thousands of supporters his government was devoted to the poor on Monday, directly tackling criticism he has governed for the rich and failed farmers in his first year in office. On the eve of the government's first anniversary Modi travelled south from New Delhi … More »

    Reuters - 12 hours ago
  • Oil prices gain as firm demand outweighs dollar strength

    Oil prices gain as firm demand outweighs dollar strength

    Crude oil futures rose on Monday as firm global demand offset a strong dollar, although a holiday in the United States and much of Europe kept trading muted. Front-month Brent crude gained 53 cents to $65.90 a barrel by 1750 GMT, after touching an intraday low of $64.72. U.S. crude was up 8 cents … More »

    Reuters - 13 hours ago
  • Shah panel on MAT levy on FIIs holds first meeting

    New Delhi, May 25 (IANS) The Justice A.P. Shah-led three-member committee on direct tax matters held its first meeting on Monday on the applicability of the controversial minimum alternate tax (MAT) on Foreign Institutional Investors (FIIs) for previous years. An official source told IANS on late … More »

    IANS - 13 hours ago
  • Task force to make India cyber security hub

    New Delhi, May 25 (IANS) Indian IT industry body Nasscom and the Data Security Council of India on Monday set up a task force to make the country a global hub for providing cyber security solutions. The National Association of Software and Services Companies (Nasscom) cyber security task force … More »

    IANS - 13 hours ago
  • Canara Bank net profit up 11 percent in 2014-15

    Bengaluru, May 25 (IANS) State-run Canara Bank posted net profit of Rs.2,703 crore for 2014-15, registering 11 percent growth over Rs.2,438 crore in 2013-14. For Q4 of fiscal 2014-15), net profit remained ... … More »

    IANS - 15 hours ago
  • Essar Oil posts Rs.1,521 crore profit

    Chennai, May 25 (IANS) Essar Oil Ltd on Monday said it closed last fiscal with a net profit of Rs.1,521 crore up from Rs.126 crore posted during 2013-14. In its regulatory filing in BSE, the company said its total income for last fiscal was Rs.83,206 crore down from Rs.98,602 crore. According to … More »

    IANS - 16 hours ago
  • Hindustan Motors posts Rs.41.9 crore loss

    Mumbai, May 25 (IANS) Country's oldest but sick car maker Hindustan Motors Ltd on Monday said it closed last fiscal with revenue of Rs.15.10 crore and a loss of Rs.41.90 crore. In a regulatory filing with ... … More »

    IANS - 16 hours ago
  • UST Global's 'iSafe' wins Elets Knowledge Exchange Awards (Update)

    Thiruvananthapuram, May 25 (ANI): UST Global, a leading digital technology services company, on Monday stated that its mobile app 'iSafe' has won the award for Best Use of Mobile Technology at the … More »

    ANI - 16 hours ago
  • Bombay Dyeing to sell processing unit for Rs.230 crore

    Chennai, May 25 (IANS) Textiles major Bombay Dyeing and Manufacturing Company Ltd on Monday said it has decided to sell off its textiles processing unit to Delhi-based Oasis Procon for Rs.230 crore. In a regulatory filing with BSE, the company said its board has approved the sale of its textiles … More »

    IANS - 17 hours ago
  • India's key stock market index ends over 300 points down

    The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed the day's trade in the red. The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 27,893.25 points, closed the day's trade at 27,643.88 points (at 3.45 p.m.), down 313.62 points or 1.12 percent from the previous … More »

    IANS - 17 hours ago
  • UST Global's 'iSafe' wins 'Best Use of Mobile Technology' at Elets Knowledge Exchange Awards

    Thiruvananthapuram, May 25 (ANI): UST Global, a leading digital technology services company, on Monday stated that its mobile app 'iSafe' has won the award for 'Best Use of Mobile Technology' at the Elets ... … More »

    ANI - 17 hours ago
  • Women's power extends beyond banking: Naina Lal Kidwai

    New Delhi, May 25 (IANS) Women have broken through the glass ceiling not just in India's financial services space, holding top positions in top banks, but have also made a significant mark in a host of other industries, says Naina Lal Kidwai, executive director of HSBC Asia Pacific. The editor of … More »

    IANS - 17 hours ago
  • 'Odisha committed to Posco project'

    Bhubaneswar, May 25 (IANS) Seeking to counter charges by union Commerce Minister Nirmala Sitharaman that the Odisha government was responsible for the uncertainty about the $12 billion Posco steel plant, state Steel and Mines Minister Prafulla Mallick on Monday said the government was committed to … More »

    IANS - 18 hours ago
  • Higher tax collections to help improve fiscal deficit: Jaitley

    New Delhi, May 25 (IANS) Finance Minister Arun Jaitley on Monday said direct tax collections for the current financial year were likely to increase by 14-15 percent, enabling the government to improve upon its fiscal deficit target of 3.9 percent. The fiscal deficit targets have been set at 3.9 … More »

    IANS - 19 hours ago
  • Blaster Headphone: Simple looks, but sound companion

    New Delhi, May 25 (IANS) Creative Technology on Monday announced the launch of Ultra-Light Sound Blaster JAM, a Bluetooth headset which aims to compete with the already heated up sub-Rs.4,000 headphones segment. This particular segment assumes significance as there has been a continuous demand for … More »

    IANS - 19 hours ago
  • Muthoot Capital Services recommends 50 percent dividend

    Kochi, May 25 (IANS) Muthoot Capital Services Ltd, the BSE listed non-banking finance company of the 128-year-old Muthoot Pappachan Group, on Monday declared a 50 percent dividend as it announced its audited financial results for the final quarter of and fiscal 2014-15. The audited financial … More »

    IANS - 19 hours ago
  • Building an entrepreneurial ecosystem in India

    Development, industrialization and jobs are intrinsically linked to entrepreneurship. The greater the number of entrepreneurs in a society the greater are the chances of prosperity for the people residing in it. Entrepreneurship is critical as it also leads to innovation, betterment in the … More »

    IANS - 19 hours ago
  • TVS Srichakra expanding capacity, developing tyres for BMW two-wheelers

    Chennai, May 25 (IANS) Tyre maker TVS Srichakra Ltd will be expanding its capacity by 300,000 tyres per month to 2.3 million tyres per month at an outlay of Rs.150 crore this year, said a senior official. He said the company is also developing tyres for two-wheelers to be rolled out jointly by TVS … More »

    IANS - 19 hours ago
  • Eastern Railways to initiate consumer connect week

    Kolkata, May 25 (IANS) Eastern Railway is rolling out a fortnight-long consumer connect programme from Tuesday when its senior officials will interact directly with the passengers to understand their problems as well as create awareness about services, a senior official said. "During this period, … More »

    IANS - 20 hours ago
  • Eastern Railways targets 72 mn tonnes freight in 2015-16

    Kolkata, May 25 (IANS) Eastern Railways has set a target of ferrying 72 million tonnes of freight this fiscal after surpassing its target of 65 million tonne in the last fiscal (2014-15), a senior official said here on Monday. "We had overachieved our last years' loading (of freight) target and … More »

    IANS - 20 hours ago
  • Governance has largely been on track

    As the Prime Minister Narendra Modi government enters its second year in office on Tuesday, there is no dearth of bouquets and brickbats for the "NaMo" regime in the media. On analysing the government's electoral assurances, the actions taken so far and the respective timelines being followed to … More »

    IANS - 20 hours ago
  • Sensex provisionally closes over 300 points down

    Mumbai, May 25 (IANS) A benchmark index of the Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), provisionally closed down by over 300 points or 1.00 percent during the trade session ... … More »

    IANS - 20 hours ago
  • Sensex ends down over 1 percent, tracking lower Asia

    Sensex ends down over 1 percent, tracking lower Asia

    The BSE Sensex and Nifty fell more than 1 percent on Monday, tracking weaker regional markets as fears about an earlier-than-expected U.S. rate hike weighed on sentiment, while cigarette-maker ITC Ltd ... … More »

    Reuters - 20 hours ago
  • Not obstructing government business, says Chidambaram

    New Delhi, May 25 (IANS) The Congress on Monday refuted contentions of the ruling NDA that the opposition was trying to "obstruct" key bills in parliament. "I reject the argument that we are obstructing," senior Congress leader and former finance minister P. Chidambaram said at a press conference … More »

    IANS - 21 hours ago
  • Sensex falls over 250 points; metal stocks sink

    Mumbai, May 25 (IANS) A benchmark index of the Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), plunged by 254 points or 1.00 percent during the late-afternoon trade session on Monday. ... … More »

    IANS - 22 hours ago
  • Jaitley asks taxmen to squeeze parallel economy

    New Delhi, May 25 (IANS) Finance Minister Arun Jaitley on Monday asked the Income Tax department to squeeze the parallel economy, also called black economy, in a fair manner without being harsh. "The parallel economy has to be squeezed and this has to be done in a very fair manner, not in a harsh … More »

    IANS - 22 hours ago
  • European shares dip, dollar gains after Yellen comments

    European shares dip, dollar gains after Yellen comments

    European shares fell in thin trade on Monday while the dollar held firm after U.S. Federal Reserve Chair Janet Yellen indicated that the central bank was poised to raise interest rates this year. U.S. shares fell on Friday after Yellen suggested the Fed was ready to act if the economy kept … More »

    Reuters - 22 hours ago
  • Sensex plunges over 305 points; capital goods stocks down

    Mumbai, May 25 (IANS) A benchmark index of Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), plunged over 305 points or 1.00 percent during the mid-afternoon trade session on Monday. ... … More »

    IANS - 22 hours ago
  • China sets up gold fund as part of Silk Road initiative - media

    China has established a fund that is expected to raise about $16 billion for gold-related investment as part of its "Silk Road" initiative to develop trade and transport infrastructure across Asia and beyond, official media reported. The fund, which will be run by a new company to be set up by … More »

    Reuters - 23 hours ago
  • IT officers responsible for recovering every rupee due to government: Jaitley

    New Delhi, May 25 (ANI): Union Finance Minister Arun Jaitley on Monday praised income tax officials for achieving a nine percent growth in direct tax collections in the previous year when the economy was ... … More »

    ANI - 23 hours ago
  • Analysis - Portugal, like Europe, loses hunger for reform

    Celebrated among Europe's elite as a model of how to reform an economy after a debt binge, Portugal's enthusiasm for change has waned as Europe loses its appetite for further belt-tightening. With Greece's future in the euro uncertain, after its leftist government all but tore up a reform-for-aid … More »

    Reuters - Mon 25 May, 2015 12:41 PM IST
  • China slashes import tax on skincare to shoes to spark domestic demand

    China slashes import tax on skincare to shoes to spark domestic demand

    China will slash import tariffs on consumer goods including skincare products, Western-style clothes and diapers from June, potentially giving a fillip to global brands and bolstering domestic consumption amid faltering economic growth. The Ministry of Finance said in a statement on Monday it … More »

    Reuters - Mon 25 May, 2015 12:03 PM IST
  • China invites private investors to help build $318 billion of projects

    China invites private investors to help build $318 billion of projects

    China's state planning agency on Monday released a list of more than 1,000 proposed projects totalling 1.97 trillion yuan ($317.75 billion) that it is inviting private investors to help fund, build and operate. The National Development and Reform Commission said the 1,043 projects, in sectors such … More »

    Reuters - Mon 25 May, 2015 10:34 AM IST
  • Sensex sheds 75 points in early session

    Mumbai, May 25 (IANS) A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), on Monday was trading 75.20 points or 0.27 percent down during the morning session. The wider ... … More »

    IANS - Mon 25 May, 2015 9:52 AM IST
  • ITC shares fall after lower-than-expected earnings

    ITC shares fall after lower-than-expected earnings

    Shares in ITC Ltd fell 2.8 percent on Monday after India's largest cigarette maker reported lower-than-expected earnings as higher taxes on smokes and a government push to discourage tobacco consumption ... … More »

    Reuters - Mon 25 May, 2015 9:37 AM IST
  • Loan recovery eludes India's banks, even as growth rate beats China

    Loan recovery eludes India's banks, even as growth rate beats China

    A recovery in India's credit growth could elude the country's banks until early 2016, despite an economy that in the first three months of this year is expected to have outpaced China. A 12.6 percent growth rate in lending in the fiscal year that ended on March 31 was the lowest in almost two … More »

    Reuters - Mon 25 May, 2015 9:20 AM IST
  • In China, P2P lenders offer some relief to small entrepreneurs

    SHANGHAI/HONG KONG (Reuters) - When Chinese flight booking operator Baitour needed cash to grow its business last year, it opted against using Industrial and Commercial Bank of China, its long-term lender and the world's largest bank, turning instead to Internet finance startup Jimu Box. For … More »

    Reuters - Mon 25 May, 2015 8:02 AM IST
  • Alibaba's latest gambit in fighting fakes: foster local brands

    Criticised and even sued by luxury brand Gucci and others for facilitating the counterfeit goods trade, Chinese e-commerce giant Alibaba Group Holding Ltd has been quietly piloting a scheme to try to curb fakes at source. In the coastal city of Putian, in Fujian province, Alibaba is working with … More »

    Reuters - Mon 25 May, 2015 7:52 AM IST
  • Greece hasn't got the money to make June IMF repayment - interior minister

    ATHENS/LONDON (Reuters) - Greece cannot make debt repayments to the International Monetary Fund (IMF) next month unless it achieves a deal with creditors, its interior minister said on Sunday, the most explicit remarks yet from Athens about the likelihood of default if talks fail. Shut out of bond … More »

    Reuters - Mon 25 May, 2015 7:51 AM IST

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