IT/ITes

  • Negative global cues subdue equity markets IANS - Fri 26 Aug, 2016 2:58 PM IST

    Mumbai, Aug 26 (IANS) Indian equity markets on Friday were subdued ahead of US Fed Reserve Chair's speech, coupled with lower crude oil prices. Consequently, the key Indian indices traded in the red during the mid-afternoon session as heavy selling pressure was witnessed in capital goods, banking and information technology …

  • Net1 to invest up to $40 million in MobiKwik over two … Reuters - Fri 26 Aug, 2016 2:35 PM IST
    A money lender counts Indian rupee currency notes at his shop in Ahmedabad

    Payment services provider Net1 UEPS Technologies Inc will invest up to $40 million in Indian mobile wallet services provider MobiKwik over the next 24 months, the companies said in a joint statement on ...

  • Infosys says seeing client-specific softness after … Reuters - Fri 26 Aug, 2016 11:51 AM IST
    An employee walks past a signage board in the Infosys campus at the Electronics City IT district in Bangalore

    IT services provider Infosys Ltd is seeing some 'softness' in clients after Britain voted in June to leave the European Union, a top company executive said during an analyst meet on Friday. Infosys will ...

  • Mumbai, Aug 25 (IANS) Indian equity markets were subdued on Thursday as volatility was induced by futures and options (F&O) expiry, coupled with negative global cues. Consequently, the key indices closed ...

  • Thiruvananthapuram, Aug 25 (IANS) A leading Information Technology honcho on Thursday advocated a multipronged strategy to promote fresh investment in the IT sector in Kerala. V.K. Mathews, who heads Technopark-headquartered IBS Software (IBS), said one of the important steps to attract more IT players is through a strategic …

  • Mixed global cues suppress equity markets IANS - Thu 25 Aug, 2016 2:30 PM IST

    Mumbai, Aug 25 (IANS) Indian equity markets traded flat during the mid-afternoon session on Thursday, as global cues stayed mixed ahead of an important speech by Fed Reserve Chair and caution prevailed ahead of derivatives expiry. Consequently, the key indices traded on a flat note with a negative bias, as heavy selling …

  • Indian equity markets buoyed ahead of F&O expiry IANS - Wed 24 Aug, 2016 6:06 PM IST

    Mumbai, Aug 24 (IANS) Amidst mixed global cues and lower crude oil prices, Indian equity markets were slightly buoyed on Wednesday, even as caution prevailed ahead of derivatives' expiry. Consequently, ...

  • Wall St. edges higher on tech, housing boost Reuters - Wed 24 Aug, 2016 1:47 AM IST
    Traders work on the floor of the NYSE

    With the U.S. earnings season winding down, investors are also turning their focus to the likelihood of an interest rate hike in the coming months. Federal Reserve Chair Janet Yellen's speech on Friday at Jackson Hole will be scrutinized for clues on the timing of a rate hike, especially after some Fed policymakers in …

  • Mumbai, Aug 23 (IANS) Indian equity markets traded lower on Tuesday as mixed global cues and lower crude oil prices subdued investors' sentiments. However, the key indices were able to pare losses only ...

  • In Rio, however, they rose in prominence with a lack of high-class catering and facilities at the sporting venues. Nike has two houses, one near Copacabana beach and another on a golf course. Under Armour has a penthouse in Copacabana with a pool, while Adidas is in an upscale local mall.

  • Indian equity markets slip on negative global cues IANS - Mon 22 Aug, 2016 3:42 PM IST

    Mumbai, Aug 22 (IANS) Indian equity markets were suppressed by negative global cues and a weak rupee during the mid-afternoon session on Monday. Consequently, both the key equity indices provisionally ...

  • New Delhi, Aug 22 (IANS) India is poised to become the world's leading market for Cloud, and for US software major Oracle, Cloud is a force-multiplier that the country must embrace to leapfrog into the digital era, a top company executive has said. India is uniquely positioned to benefit from Cloud-based solutions for …

  • Why pumping money into PSUs is a bad idea India Today Group - Mon 22 Aug, 2016 12:08 PM IST

    Last year, the government provided budgetary and extra budgetary support of Rs 92,000 crore to its companies and only got back Rs 56,000 crore as dividends. Here's why it shouldn't keep throwing more money ...

  • Weak macros dent equity markets IANS - Sat 20 Aug, 2016 5:38 PM IST

    Mumbai, Aug 20 (IANS) Unable to withstand the jitters of weak domestic macro-economic data and increased chances of a US rate hike, Indian equity markets traded with volatile sentiments to end on a flat-to-negative note in the just-concluded week. The 30-scrip sensitive index (Sensex) of the BSE edged down 75.40 points …

  • Mumbai, Aug 19 (IANS) Profit booking, negative global cues and a weak rupee subdued the Indian equity markets on Friday. Consequently, both the key equity indices closed the day's trade flat -- marginally ...

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Oil & Gas

  • U.S. crude down 3 percent after big stockpile buil … Reuters - Thu 25 Aug, 2016 12:48 AM IST
    A pumpjack drills for oil in the Monterey Shale

    Oil prices tumbled on Wednesday, with U.S. crude settling about 3 percent lower, after an unexpectedly large inventory build in the world's biggest oil consumer renewed worries about oversupply. The U.S. Energy Information Administration (EIA) said crude inventories rose 2.5 million barrels last week, versus analysts' …

  • Lumbering state companies become hot stock market  … Reuters - Wed 24 Aug, 2016 2:22 PM IST

    India's state-owned companies, from builders such as NBCC to oil firms such as Bharat Petroleum Corp Ltd, are attracting top investors as cheap valuations, improving earnings, and share buybacks make them stand out in an otherwise expensive market. Many of the biggest state-owned companies are in the oil and gas sector, …

  • U.S. labor market firming; factories still struggl … Reuters - Thu 18 Aug, 2016 10:09 PM IST

    The number of Americans filing for unemployment benefits fell more than expected last week, reinforcing views of labor market strength that could encourage the Federal Reserve to raise interest rates soon. Another report on Thursday showed a mild improvement in manufacturing activity in the mid-Atlantic region this month …

  • U.S. inflation tame despite economy gaining moment … Reuters - Wed 17 Aug, 2016 2:16 AM IST
    A man in short sleeves carries shopping bags near Herald Square during unseasonably warm weather in Manhattan

    U.S. consumer prices were unchanged in July but a rise in industrial output and home building suggested a pickup in economic activity that could allow the Federal Reserve to raise interest rates this year. Tuesday's economic reports came as influential New York Fed President William Dudley said the U.S. central bank could …

  • BHP Billiton books record loss, says commodity price … Reuters - Tue 16 Aug, 2016 1:59 PM IST
    A promotional sign adorns a stage at a BHP Billiton function in central Sydney

    BHP Billiton (BHP.AX)(BLT.L) reported a record $6.4 billion annual loss on Tuesday, hammered by a bad bet on shale, a dam disaster in Brazil and a commodities slump, but sounded a note of optimism as prices stabilise and its costs fall. The world's biggest mining company said cost cuts and a reduction in net debt should …

  • Berkshire takes bigger bite of Apple, pares Wal-Ma … Reuters - Tue 16 Aug, 2016 9:58 AM IST

    Berkshire owned 15.23 million Apple shares worth $1.46 billion as of June 30, up from 9.81 million shares as of March 31, according to a regulatory filing from Buffett's Omaha, Nebraska-based conglomerate. The filing also said Berkshire cut its stake in Wal-Mart Stores Inc (WMT.N), the world's largest retailer, by 27 percent …

  • Australia's gas paradox: supply crunch looms despite … Reuters - Mon 15 Aug, 2016 8:59 AM IST

    Australia is on track to become the world's biggest liquefied natural gas (LNG) exporter by 2019 yet faces a looming shortage at home as states restrict new drilling onshore and cash-strapped oil and gas companies cut spending. The paradox has led to urgent calls from everyone from Australia's energy minister to petroleum …

  • BP seeks buyers for its half of China petchem vent … Reuters - Tue 9 Aug, 2016 3:11 PM IST
    File photo of a BP logo at a petrol station in London

    FRANKFURT/HONG KONG (Reuters) - British oil major BP (BP.L) is seeking buyers for its 50 percent stake in Chinese petrochemicals joint venture SECCO, its largest investment in China, in a deal sources said could fetch $2-$3 billion. State-owned China Petroleum & Chemical Corp (Sinopec) <600028.SS><0386.HK>, which owns …

  • DBS Q2 profit stumbles after exposure to troubled  … Reuters - Mon 8 Aug, 2016 7:52 AM IST

    DBS Group Holdings, Singapore's biggest lender, on Monday reported a 6 percent drop in quarterly profit due partly to a jump in provisions for oil services firm Swiber, and flagged large exposure to the struggling oil and gas sector. Provisions for non-performing loans more than doubled, led by a charge of S$150 million …

  • Essar Oil's fuel exports to fall in 2018/19 as focus … Reuters - Sun 7 Aug, 2016 1:18 PM IST
    A fireman holds a water supply nozzle while petroleum products are transported on a vessel from the Vadinar refinery operated by Essar Oil Ltd EOL on jetty off Essar ports in Gujarat

    Indian refiner Essar Oil's fuel exports will sharply drop in 2018/19 as it ramps up local sales by doubling its retail network and turns some of its naphtha into profitable gasoline, its managing director said. Rising fuel demand, driven by India's thirst for gasoline, is expected to help push the growth rate in the country's …

  • A bird flies by the Vedanta office building in Mumbai

    Mining and energy group Vedanta Resources expects to complete its merger with Cairn India early next year, a move that would boost the firm's financial strength, Vedanta's CEO said on Friday. Vedanta is among the resource firms hit by a collapse in commodity prices and it is also facing legal action and activist protests …

  • U.S. jobless claims rise marginally, factory orders … Reuters - Thu 4 Aug, 2016 10:35 PM IST
    A job seeker talks with a corporate recruiter as he peruses the man's resume at a Hire Our Heroes job fair in Washington

    The number of Americans filing for unemployment benefits unexpectedly rose last week, while renewed job cuts in the energy sector boosted layoffs announced by U.S.-based employers in July. Despite the increases, the labor market remains healthy and will probably continue to support economic growth for the rest of this …

  • StanChart sees further cuts to bad loan provisions … Reuters - Thu 4 Aug, 2016 7:07 PM IST

    Standard Chartered expects to further cut provisions for bad loans in its key markets of China and India, and is also looking to lower exposure to the heavy industry sector, the bank's Greater China and North Asia chief said on Thursday. A sharp spike in non-performing loans in China and India had weighed on the Asia-focused …

  • Siemens lifts profit forecast, adapts to low-growth … Reuters - Thu 4 Aug, 2016 3:48 PM IST

    German industrial group Siemens raised its full-year earnings forecast for the second time this year after large energy projects helped to take its third-quarter results above expectations and sent its shares to a 12-month high. Siemens reported growth in orders and sales that outpaced those of its main rivals despite …

  • Iran says crude market oversupplied, balance to be … Reuters - Mon 1 Aug, 2016 2:42 PM IST
    A gas flare on an oil production platform is seen alongside an Iranian flag in the Gulf

    Iran's Oil Minister said on Monday the oil market was oversupplied but predicted balance between demand and supply will be restored, Iranian state television reported on Monday. "The oil market is oversupplied now but there are expectations that there will be balance between demand and supply in the market," Bijan Namdar …

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Banking & Finance

  • Indian Banks to Modify Interest Rates for Savings  … Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian banks may revise the interest rates on saving deposit account balance exceeding Rs 100,000, reported Business Standard. Private sector lenders such as Kotak Mahindra Bank and IndusInd ...

  • Canara Bank to Set up 47 Micro Enterprises Biz Cen … Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian public sector lender Canara Bank has plans to set up 47 Micro Enterprises Business (MEB) centres all over the country. The Bangalore-based PSB explained that the proposed MEB centres ...

  • Indian Banks Achieve Jan Dhan Account Opening Targ … Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian banks have achieved the target of opening 75.16 million accounts for the low-income households under the Pradhan Mantri Jan-Dhan Yojana (Prime Minister's People Funding Scheme), reported ...

  • Axis Bank Garners $500 Mln via Bonds Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian private sector lender Axis Bank has garnered capital worth $500 million in a 5.5-year dollar-money at 3.25% fixed rate coupon. The Mumbai-based lender has raised the capital through its ...

  • Essar Steel Algoma Garners $1.2 Bln for Debt Refin … Contify Investment - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Essar Steel’s Canadian subsidiary, Essar Steel Algoma, has garnered around $1.2 billion to refinance its previous debts, Business Line reported. The refinancing comprises a debt of $750 million, ...

  • DoT to Start 3G Spectrum Auction from Feb 23, 2015 Contify Investment - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- The Department of Telecommunications (DoT) stated that the proposed spectrum auction will start from February 23, 2015 instead of February 3, Business Standard reported. The delay is due to ...

  • SpiceJet Hopes to Make Profit in 12 Months Contify Investment - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian low-cost carrier SpiceJet aims to see profit within a year after receiving fresh amount of capital by sealing a mega deal, Business Standard reported. The company is about to close the ...

  • Citibank India Names Arvind Vashistha as Its Equity … Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Citibank India, a subsidiary of US-based global financial service corporation Citigroup, has named Arvind Vashistha as its equity markets head. Vashistha would be reporting to Citibank India’s ...

  • NSE, BSE Keen to Set up Small Banks Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Indian bourses the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) are considering to open small banks across the country once the Reserve Bank of India (RBI) start the application ...

  • Govt Nominates Hasmukh Adhia as RBI Director Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- The Indian government has nominated Hasmukh Adhia as a director on the Central Board of Directors of the Reserve Bank of India (RBI). Adhia has assumed the new role with effect from November ...

  • Central Bank of India Rolls out Two New Schemes for … Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- India’s public sector lender Central Bank of India has unveiled two latest schemes to facilitate its retail customers to avail housing loan by way of overdraft facility and liquidity on their ...

  • Reliance Jio Garners $1.5 Bln to Repay Loans Contify Investment - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Reliance Jio Infocomm (RJIL), the telecom unit of the diversified group Reliance Industries Ltd (RIL), plans to garner around $1.5 billion from a consortium of 26 banks to refinance the loans. ...

  • India's Domestic Air Traffic Increases 18.31% in Oct … Contify Investment - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Domestic air traffic increased by 18.31% in October this year as airlines carried over 59.25 lakh passengers during the month compared to 50.08 lakh passengers in the same month last year, Directorate ...

  • SBI Likely to Offer $1 Bln Loan to Adani for its Australian … Contify Banking - Mon 17 Nov, 2014 8:21 PM IST

    Nov. 17 – India’s largest public sector lender State Bank of India has inked an agreement with Adani Enterprises allowing the conglomerate to avail loan up to $1 billion for the development of its infrastructure ...

  • Govt to Meet PSB chiefs on Nov 20 Contify Banking - Mon 17 Nov, 2014 8:21 PM IST

    Nov. 17 --The finance ministry has scheduled a meeting with the chiefs of government-owned banks on November 20 to review the financial performance of PSBs and progress of Pradhan Mantri Jan Dhan Yojana ...

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