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  • Bank of India shares hit after jump in Q4 bad loans

    Bank of India shares hit after jump in Q4 bad loans

    Bank of India (BOI.NS), the country's third-biggest state-run lender, reported an unexpected 561 million rupee ($8.8 million) loss for the fourth quarter, hit by a jump in bad loans that sent its shares down almost 8 percent. The loss in the three months to the end of March compares to a 5.58 … More »

    Reuters - 10 minutes ago
  • Asia FX sentiment worsens on Fed policy bets - Reuters poll

    Sentiment towards most emerging Asian currencies worsened in the last two weeks with short positions in India's rupee near a two-year high as expectations firmed that U.S. interest rates will move higher by year end, a Reuters poll showed on Thursday. The Chinese yuan was an exception as its long … More »

    Reuters - 16 minutes ago
  • China's gold imports from Hong Kong drop to eight-month low

    China's net gold imports from main conduit Hong Kong fell to an eight-month low in April, data showed on Thursday, as demand for the precious metal eased amid robust equities. Net gold imports from Hong Kong dipped to 52.204 tonnes in April, from 66.363 tonnes in March, according to data emailed … More »

    Reuters - 21 minutes ago
  • Market calm on Grexit an eerie recall of pre-Lehman bets

    Relative calm on global markets during the latest Greek debt standoff more closely reflects the low probability assigned to a euro exit than how contained such a shock could be. As Greece has returned to the precipice of another default and the outsize chance of Grexit - Greece being forced out of … More »

    Reuters - 30 minutes ago
  • ONGC fourth-quarter net profit drops 20 percent

    ONGC fourth-quarter net profit drops 20 percent

    India's top energy explorer Oil and Natural Gas Corp reported a 20 percent drop in quarterly net profit on Thursday. ONGC said net profit was 39.35 billion rupees in its fiscal fourth quarter to March ... … More »

    Reuters - 35 minutes ago
  • G7 finance chiefs discuss growth risks, urge deal on Greece

    Finance chiefs from the Group of Seven economic powers met on Thursday to discuss how to revive a faltering global recovery, with the United States leaning on Europe to reach a deal to avert a Greek bankruptcy. The threat of a Greek default, rising oil prices and bond market turmoil are fuelling … More »

    Reuters - 35 minutes ago
  • Hindalco Q4 net falls over 35 percent to Rs.160 crore

    New Delhi, May 28 (IANS) Aditya Birla-led aluminium makers Hindalco Industries on Thursday reported a 35.7 percent decline net profit for the fourth quarter ended March, caused by higher power, fuel and ... … More »

    IANS - 43 minutes ago
  • If hacked, video surveillance systems can pose great threat

    New Delhi, May 28 (ANI): Kaspersky Lab has recently revealed that the security video surveillance networks which was originally designed to help and protect people from criminals and terrorists can now ... … More »

    ANI - 43 minutes ago
  • 'Quick recovering' robots can be great for rescue missions

    Washington, May 28 (ANI): If robots can learn how to work in damaged situation, they can prove to be very helpful for our society in the rescue and search missions. … More »

    ANI - 43 minutes ago
  • Bajaj Electricals posts Rs.46.90 crore net profit in Q4

    Mumbai, May 28 (IANS) Bajaj Electricals posted a net profit of Rs.46.90 crore in the fourth quarter of 2014-15 against a loss of Rs. 10.65 crore in the corresponding timeframe in 2013-14. The net income from operations in the first three months of 2015 increased by 3.2 percent to Rs.1,311.68 crore … More »

    IANS - 44 minutes ago
  • Amit Khanduja new CEO of Reliance Games

    New Delhi, May 28 (IANS) Reliance Entertainment has appointed Amit Khanduja as the new chief executive officer (CEO) of Reliance Games, effective June 1, a company statement said here on Thursday. "Amit is a proven leader,and has built a strong foundation for innovation and growth. Reliance Games … More »

    IANS - 50 minutes ago
  • India eyes listing of ONGC's overseas investment arm - source

    India eyes listing of ONGC's overseas investment arm - source

    The government wants to list ONGC Videsh, the overseas arm of top oil explorer Oil and Natural Gas Corp (ONGC.NS), a company executive said. "We have received a letter from the ministry on listing of ONGC Videsh," the executive said, adding the divestment department of the finance ministry was … More »

    Reuters - 1 hour 3 minutes ago
  • Telangana attracts $500 mn investment

    Hyderabad, May 28 (IANS) Telangana's Information Technology Minister K. Tarakarama Rao on Thursday said he was able to attract $500 million investment to the newly-created state during his recent visit to the United States. During the visit, the state government signed a Memorandum of … More »

    IANS - 1 hour 30 minutes ago
  • Nifty ends lower for fourth day on derivatives expiry

    Nifty ends lower for fourth day on derivatives expiry

    The Nifty fell for a fourth day in a volatile session marked by the expiry of monthly derivatives contracts, even as growing concerns over lacklustre corporate earnings hurt sentiment. The Nifty ended ... … More »

    Reuters - 1 hour 39 minutes ago
  • Tata Global Beverages' net profit shrinks by 45.6 percent

    Kolkata, May 28 (IANS) Hit by adverse macroeconomic factors in Russia and Eastern Europe and delays in its operations in China, Tata Global Beverages' net profits fell by 45.6 percent during the 2014-15 fiscal at Rs.284.36 crore against Rs.522.37 during the previous year. The consolidated net … More »

    IANS - 1 hour 40 minutes ago
  • Sensex provisionally closes 66 points down

    Mumbai, May 28 (IANS) Disappointing results, May futures expiry and anxiety over policy rates cut led a benchmark index of Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), to provisionally ... … More »

    IANS - 1 hour 43 minutes ago
  • KINFRA, CEL to set up electronics park in Kochi

    Kochi, May 28 (IANS) The Central Electronics Limited (CEL) and Kerala Industrial Infrastructure Development Corporation (KINFRA) will set up an electronics manufacturing cluster near here to give a fillip to the 'Make in India' campaign. CEL is a public sector undertaking under the union ministry … More »

    IANS - 1 hour 44 minutes ago
  • Hindalco fourth-quarter profit misses estimates

    REUTERS - Aluminium and copper producer Hindalco Industries Ltd on Thursday posted a drop in quarterly profit that missed estimates, hurt by lower margins. Net income for the quarter ended March 31, Hindalco's ... … More »

    Reuters - 2 hours 20 minutes ago
  • Dollar momentum wanes, China stocks take heavy tumble

    The dollar took a breather on Thursday after hitting its highest level against the yen since 2002, and stocks stuttered as high-flying Chinese shares tumbled and European officials downplayed talk of an imminent deal to keep Greece afloat. A Greek government official had sparked speculation late … More »

    Reuters - 2 hours 30 minutes ago
  • China markets plunge in record turnover as margin traders take fright

    China markets plunge in record turnover as margin traders take fright

    China's stock markets plunged on Thursday, with indexes dropping over 6 percent in record high turnover as investors rushed to sell after more brokers tightened margin trading requirements for clients and the central bank drained money market liquidity. The CSI300 index and the Shanghai Composite … More »

    Reuters - 2 hours 40 minutes ago
  • Australia iron ore magnate Rinehart weakened by court ruling

    Australia iron ore magnate Rinehart weakened by court ruling

    Australian iron ore magnate Gina Rinehart's eldest daughter won control of the $3 billion dollar family trust on Thursday in a judgment critical of Rinehart's former control of the fund and attempts to block the long-running legal dispute. The Supreme Court of New South Wales judgment loosens … More »

    Reuters - 3 hours ago
  • An app to make residential societies 'smarter'

    Mumbai, May 28 (IANS) Now a software and an app can help both residents and their housing societies to keep track of basic functions like security, plumbing, power maintenance, tracking visitors, legal paperwork and even online voting for elections. Founded in 2009 by engineer-duo Sangeeta … More »

    IANS - 4 hours ago
  • Asian shares drop, dollar at highest since 2002 vs yen

    Asian shares drop, dollar at highest since 2002 vs yen

    An index of Asian shares fell on Thursday as the Chinese, Hong Kong and Australian markets slipped, while the dollar scaled its highest level against the yen since 2002 on expectations the U.S. Federal Reserve will raise rates this year. It ended up 0.4 percent, refreshing a 15-year closing high. … More »

    Reuters - 5 hours ago
  • Banks want RBI to do more than just cut rates to spur lending

    Banks want RBI to do more than just cut rates to spur lending

    Bankers say the Reserve Bank of India should take steps to boost liquidity in addition to delivering a widely expected interest rate cut next week if it hopes to see lower lending rates and a pick-up in credit growth. Lenders' failure to fully pass on the RBI's two interest rate cuts this year has … More »

    Reuters - 5 hours ago
  • Sour is the new sweet: OPEC's view of oil quality dilemma

    Sour is the new sweet: OPEC's view of oil quality dilemma

    The U.S. shale oil boom is turning global crude pricing on its head with the historical notion that light grades shall be priced at a premium to heavy ones quickly disappearing, according to predictions from producer group OPEC. The trend will have big implications for global oil flows, reducing … More »

    Reuters - 5 hours ago
  • OPEC sees rivals boosting oil output despite weak prices

    The North American oil boom is proving resilient despite low oil prices, producer group OPEC said in its biggest and most detailed report this year, suggesting the global oil glut could persist for another two years. A draft report of OPEC's long-term strategy, seen by Reuters ahead of the … More »

    Reuters - 5 hours ago
  • More China brokerages tighten margin rules to contain risks

    At least three Chinese brokerages, including Guosen Securities Co, Southwest Securities Co and Changjiang Securities Co, tightened margin financing rules on Thursday to tame risks in a red-hot stock market ... … More »

    Reuters - 5 hours ago
  • India tipped to overtake China in Modi's first year despite sluggish feel

    When India releases data on Friday that is expected to show the economy growing faster than China for a second consecutive quarter, sceptics could be forgiven for asking: Why does it feel so slow? Celebrating his first year in office, Prime Minister Narendra Modi has basked in the success of … More »

    Reuters - 6 hours ago
  • Technology replaces schmoozing: the future of private banking

    Swiss private bankers are turning to video games and virtual reality to attract a new generation of sceptical clients and see off digital rivals. Technology is likely to appeal to multi-tasking millionaires with little time to spare. In a fifth floor office just off Zurich's main shopping street, … More »

    Reuters - 6 hours ago
  • Star managers battered by rocky ride in yields, currencies

    Pimco's flagship Total Return Fund, which lost its crown as the biggest bond fund in the world in April, had been lagging its peer intermediate-term category and benchmark after going long German bunds and shorting euros against the dollar in recent months. Not every well-established bond manager … More »

    Reuters - 6 hours ago
  • With 'attitude shift', Takata moves from denial to compromise in air bag crisis

    Japan's Takata Corp, which for months resisted U.S. regulators' demands to widen a recall over its potentially lethal air bags, has had an "attitude shift" and is in a mood to compromise to try to resolve the ballooning auto safety crisis, said a person close to the company. The knowledgeable … More »

    Reuters - 6 hours ago
  • Rolls Royces, movies: private India hospitals go luxe for growth

    MUMBAI/NEW DELHI (Reuters) - Cinemas, Rolls-Royces and rooms so plush they could belong in a five-star hotel: private hospital operators in India are all but rolling out a red carpet to lure affluent locals and tourists to seek medical treatment at their luxe facilities. Local hospital firms … More »

    Reuters - 7 hours ago
  • Securing Smart Cities aims to make smart cities safer

    New Delhi, May 28 (ANI): Soon a new not-for-profit global initiative, Securing Smart Cities, is going to be launched with the aim to solve the cyber security challenges that smart cities face through collaboration ... … More »

    ANI - 7 hours ago
  • Oil prices edge up after two days of steep falls

    Crude oil prices recovered on Thursday after a two-day slide, although high U.S. stocks and strong global production, along with a firm dollar, were keeping markets under pressure. The gains followed two ... … More »

    Reuters - 9 hours ago
  • Venezuela, Russia's Rosneft agree on $14 billion oil, gas investment

    Venezuela, Russia's Rosneft agree on $14 billion oil, gas investment

    Venezuela and Russia's top oil producer, Rosneft (ROSN.MM), have agreed on around $14 billion in investment in the South American OPEC country's oil and gas sector, President Nicolas Maduro said on Wednesday evening. Maduro said he met with the chief executive of state-owned Rosneft, Igor Sechin, … More »

    Reuters - 10 hours ago
  • Dollar flirts with 2007 peak vs yen, consolidate against others

    Dollar flirts with 2007 peak vs yen, consolidate against others

    The dollar hovered at eight-year highs against the yen early on Thursday, having stopped short of breaking above its 2007 peak as it consolidated recent gains against the euro and other peers. The greenback popped above 124.00 yen (JPY=) for the first time since June 2007, but lost steam after … More »

    Reuters - 11 hours ago
  • Charter-Time Warner Cable deal could spawn an online video service

    Charter Communications Inc (CHTR.O) executives are exploring whether to launch an online video service as part of its combination with larger rival Time Warner Cable Inc (TWC.N), in what would be an unprecedented move in the cable industry. The $56 billion takeover announced on Tuesday would make … More »

    Reuters - 12 hours ago
  • U.S. judge puts GM ignition-switch suits on ice, for now

    A U.S. bankruptcy judge on Wednesday put on hold dozens of lawsuits accusing General Motors Co (GM.N) of concealing an ignition-switch defect while the plaintiffs in those cases appeal an earlier ruling that found their cases were barred. GM had argued that claims for vehicles predating its 2009 … More »

    Reuters - 13 hours ago
  • Oil down about 3 percent again on dollar, awaits supply data

    Oil down about 3 percent again on dollar, awaits supply data

    Oil prices fell by up to 3 percent for a second straight day on Wednesday as a resurgent dollar weighed on the market amid concerns that U.S. crude supplies may have started rising again after three weeks of draws. Industry group American Petroleum Institute (API) said after the market's … More »

    Reuters - 14 hours ago
  • Euro ticks up, stocks rise as Greece fights for deal

    Euro ticks up, stocks rise as Greece fights for deal

    U.S. equities also climbed on the news on Greece, with the Nasdaq posting a record closing high. The U.S. dollar index ticked lower, though the greenback advanced against the yen. Greece's government said it was starting to draft an agreement with creditors including the European Union and the … More »

    Reuters - 14 hours ago
  • Tech, healthcare lead Wall St. higher; Nasdaq hits record

    Tech, healthcare lead Wall St. higher; Nasdaq hits record

    U.S. stocks ended sharply higher on Wednesday and the Nasdaq logged a record high close, led by a rebound in technology and healthcare stocks and optimism that Greece would avoid defaulting on its debt. ... … More »

    Reuters - 15 hours ago
  • ECB might ease Greek restrictions if aid deal likely - source

    ECB might ease Greek restrictions if aid deal likely - source

    The European Central Bank might ease restrictions on how much short-term Greek government debt the country's banks can hold if becomes clear the euro zone will disburse long-awaited aid to Athens, a banking source said on Wednesday. The ECB has kept up pressure on cash-strapped Greece in recent … More »

    Reuters - 15 hours ago
  • Gold steadies off two-week low as dollar rally loses steam

    Gold steadies off two-week low as dollar rally loses steam

    NEW YORK/LONDON (Reuters) - Gold was steady after initially falling to a two-week low on Wednesday, as the dollar retreated from a one-month high, but the precious metal remained under pressure from expectations that a U.S. rate increase may come soon. Spot gold (XAU=) was up 0.1 percent at … More »

    Reuters - 15 hours ago
  • FBI probing what J&J knew about uterine surgery device - WSJ

    J&J said in July that it would ask doctors to return the device, called laparoscopic power morcellator, which is used to treat uterine growths called fibroids. It is unclear what stage the inquiry is in, the Journal reported, citing three people who have been interviewed. A J&J spokesman said the … More »

    Reuters - 16 hours ago
  • Buyout group Cinven to buy France's Labco for 1.2 billion euros - source

    European private equity firm Cinven has agreed to buy French medical diagnostics provider Labco SA for 1.2 billion euros , a person familiar with the deal told Reuters. The deal could be announced as soon ... … More »

    Reuters - 16 hours ago
  • Germany's Schaeuble sees no real progress in Greek debt talks - ARD

    Germany's Schaeuble sees no real progress in Greek debt talks - ARD

    German Finance Minister Wolfgang Schaeuble said there was not much progress in the Greek debt talks and he was surprised by the upbeat tone from some Greek government officials, according to an ARD television interview on Wednesday. "One is hearing all this positive news coming from Greece, that's … More »

    Reuters - 17 hours ago
  • Godrej Industries net up 23 percent in 2014-15

    Mumbai, May 27 (IANS) Godrej Industries Ltd. posted consolidated net profit of Rs.402 crore for fiscal 2014-15, registering 23 percent increase year-on-year (YoY) from Rs.326 crore in previous fiscal (2013-14). ... … More »

    IANS - 18 hours ago
  • EU officials dismiss Greek statement on aid agreement being drafted

    Greece's government on Wednesday said it is starting to draft an agreement with creditors that would pave the way for aid, but European officials quickly dismissed that as wishful thinking. Greece and its European and International Monetary Fund lenders have been locked in tortuous negotiations on … More »

    Reuters - 19 hours ago
  • Tatas to build academic block for IIIT-Hyderabad

    Hyderabad, May 27 (IANS) The Tata Group will support the International Institute of Information Technology (IIIT), Hyderabad, by constructing a new academic block. The block will be constructed in the ... … More »

    IANS - 19 hours ago
  • GAIL sells some of its U.S. LNG to Shell

    NEW DELHI/LONDON (Reuters) - GAIL (India) Ltd has sold some of its liquefied natural gas (LNG) from the U.S. portfolio to European energy major Royal Dutch Shell ahead of production from early 2018, its head B.C. Tripathi said on Wednesday. GAIL has a deal to buy 3.5 million tonnes per annum … More »

    Reuters - 21 hours ago

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