IT/ITes

  • Positive domestic cues lift equity markets IANS - Fri 22 Jul, 2016 7:06 PM IST

    Mumbai, July 22 (IANS) Positive domestic cues such as value buying, short covering and a firm rupee lifted the Indian equity markets on Friday. The continued inflow of foreign funds led the key indices ...

  • Mumbai, July 22 (IANS) More than $1 trillion in IT spending will be directly or indirectly affected by the shift to Cloud in the next five years -- making Cloud computing one of the most disruptive forces of IT spending since early days of the digital age, market research firm Gartner said on Friday. "Cloud-first strategies …

  • Negative global cues subdue equity markets IANS - Fri 22 Jul, 2016 9:50 AM IST

    Mumbai, July 22 (IANS) Negative global cues, combined with a logjam in parliament and disappointing quarterly results, subdued the Indian equity markets on Friday. Consequently, the key indices traded ...

  • Profit booking drags equity markets lower IANS - Thu 21 Jul, 2016 6:48 PM IST

    Mumbai, July 21 (IANS) Profit booking, along with upcoming global event risks and the logjam in parliament, dragged the Indian equity markets lower on Thursday. Consequently, the key indices closed the ...

  • BENGALURU/MUMBAI (Reuters) - Larsen & Toubro Infotech Ltd, India's sixth-biggest software services exporter, fell as much as 6 percent on its market debut on Thursday, as uncertainties over technology spending by European clients cloud the outlook for the sector. Strong markets in India are sparking a boom in IPOs, and …

  • Microsoft helps Wall Street to another day of record … Reuters - Thu 21 Jul, 2016 1:56 AM IST
    Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York

    Microsoft (MSFT.O) shares surged 5.3 percent after the software giant posted sharp growth in its cloud computing business. "It seems like the weaker parts of the market are starting to at least try and keep pace with the stronger parts and there really hasn’t been a big selloff in the big winners to this point," said Rick …

  • Value buying buoys equity markets IANS - Wed 20 Jul, 2016 7:26 PM IST

    Mumbai, July 20 (IANS) Value buying, along with healthy inflow of foreign funds lifted the Indian equity markets on Wednesday, even as profit booking and upcoming global event risks flared volatility throughout ...

  • Cloud business boosts Microsoft's quarterly revenue, … Reuters - Wed 20 Jul, 2016 9:44 AM IST
    A Microsoft logo is seen a day after Microsoft Corp's (MSFT.O) $26.2 billion purchase of LinkedIn Corp (LNKD.N), in Los Angeles

    Sharp growth in its commercial cloud computing business helped lift Microsoft Corp's quarterly revenue above Wall Street's expectations, sending the technology company's shares up more than 4 percent in after-hours trading. "Only two companies are setting the tone of enterprise computing, Microsoft Azure and Amazon AWS," …

  • Wipro sees low growth in second quarter, cautions on … Reuters - Tue 19 Jul, 2016 7:37 PM IST
    To match feature INDIA-EDUCATION/

    India's third-largest software services exporter Wipro (WIPR.NS) forecast muted revenue growth in the current quarter and warned Britain's decision to leave the European Union could lead some customers to defer business over the medium term. Wipro said on Tuesday it expected revenue to grow by between 0.1 percent and 1 …

  • Cisco signs MoU with Jharkhand government IANS - Tue 19 Jul, 2016 6:06 PM IST

    New Delhi, July 19 (IANS) US-based global technology company Cisco on Tuesday signed a memorandum of understanding (MoU) with the Jharkhand government to enhance the information technology skills of students ...

  • Mumbai, July 18 (IANS) Key Indian equity markets were on Monday buoyed by expectations of robust quarterly results and mixed global cues. The indices traded on a flat-to-positive note during the mid-afternoon trade session, with healthy buying witnessed in automobile, banking and capital goods stocks. The wider 51-scrip …

  • Mumbai, July 17 (IANS) Despite the volatility and mixed first quarter results from some big corporate entities, key Indian stock market indices ended higher during the trading week that ended on July 15. Future directions, however, will depend on a host of issues, notably the way the monsoon session of parliament deals …

  • Mumbai, July 16 (IANS) Indian equity markets had a decent run during the week ended Friday, with key indices gaining over 2.5 per cent, even though some counters succumbed to profit booking and weak macro-economic data, notably on inflation and low factory output growth. The two key equity indices -- the sensitive index …

  • Sensex, Nifty fall; Infosys leads losses Reuters - Fri 15 Jul, 2016 4:11 PM IST
    A broker monitors share prices while trading at a brokerage firm in Mumbai

    REUTERS - Indian shares fell on Friday, underperforming Asian peers, as blue chip Infosys Ltd declined as much as 10.6 percent after the software services exporter posted disappointing results and slashed ...

  • Profit booking, weak rupee subdue equity markets IANS - Fri 15 Jul, 2016 3:42 PM IST

    Mumbai, July 15 (IANS) Key Indian equity markets were on Friday suppressed by profit booking, a weak rupee and lower crude prices. Consequently, the key indices provisionally closed the day's trade in ...

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Oil & Gas

  • GE reports weak demand for oil, transport equipment; … Reuters - Fri 22 Jul, 2016 10:41 PM IST
    The logo of US conglomerate General Electric is pictured at the company's site in Belfort

    General Electric Co on Friday reported weak demand for new oil, gas and transportation equipment, raising concerns about its full-year performance and sending its shares down as much as 2.8 percent. "You're counting on the second half being pretty strong, especially in the power business," said Jeff Windau, an analyst …

  • Cairn India employees work at a storage facility for crude oil at Mangala oil field at Barmer in the desert Indian state of Rajasthan

    Vedanta Ltd has offered to sweeten the terms for taking over subsidiary Cairn India Ltd after an initial bid had been stymied for a year. Under the new offer, Vedanta will give one share and four redeemable preference shares for each share in Cairn India, the company controlled by mining and metals tycoon Anil Agarwal …

  • Cairn India's first quarter net profit drops 28 pe … Reuters - Thu 21 Jul, 2016 8:36 PM IST

    Oil explorer Cairn India Ltd, controlled by billionaire Anil Agarwal, said on Thursday consolidated net profit in the first quarter of its business year fell 28 percent from the same period a year ago due to lower crude oil prices. The first-quarter's performance represented a significant improvement on the previous quarter …

  • Oil down 1 percent on worry of crude and fuel supply … Reuters - Tue 19 Jul, 2016 2:05 AM IST
    File photo of a worker walking past a pump jack on an oil field owned by Bashneft, Bashkortostan

    Oil prices settled down more than 1 percent on Monday after rising stockpiles of crude and refined fuel intensified fears another major glut was building up. Morgan Stanley said it still expected a supply-demand rebalancing in oil by mid-2017 but added that fundamental headwinds were growing in the market. Brent crude …

  • A policeman stands atop of a military armored vehicle after troops involved in the coup surrendered on the Bosphorus Bridge in Istanbul

    Maritime authorities shut Istanbul's Bosphorus Strait to transiting tankers on Saturday "for security and safety" reasons, shipping agent GAC said, after what the government said was an attempted coup by a faction in the military. The Bosphorus is one of world's most important chokepoints for the maritime transit of oil …

  • A woman and child shop at Walmart to Go convenience store in Bentonville

    U.S. retail sales rose more than expected in June as Americans bought motor vehicles and a variety of other goods, bolstering views that economic growth picked up in the second quarter. The bullish data and a rally on Wall Street could allow the Federal Reserve to raise interest rates later this year, but much will depend …

  • Wells Fargo management prodded on expenses after profit … Reuters - Fri 15 Jul, 2016 10:40 PM IST
    Bank Teller Tyler Wong talks to a customer at the Wells Fargo bank in Denver

    Top Wells Fargo & Co executives were grilled by analysts on Friday about whether they're doing enough to control expenses after the bank reported a drop in second-quarter profit. Like its big bank peers, Wells Fargo has been challenged by a prolonged period of historically low interest rates, which only fell further in …

  • BP puts 2010 Gulf of Mexico penalties at $62 billi … Reuters - Fri 15 Jul, 2016 1:50 AM IST

    BP (BP.L) on Thursday estimated costs from its deadly 2010 Gulf of Mexico spill will total $61.6 billion (46.2 billion pounds) after it agreed to a new $5.2 billion charge it said largely drew claims to a close. This comes more than a year after the British oil and gas company agreed to pay up to $18.7 billion in penalties …

  • Airbus has no plans to scrap its Super Puma helicopter in the wake of a crash that killed 13 people in Norway, the head of its helicopter division said on Wednesday, but he warned the market would be weak at least until the end of 2017. The Super Puma, a staple of the offshore oil industry, was banned from commercial use …

  • New Delhi, July 12 (IANS) Road shows on the upcoming auction of India's 67 discovered small hydrocarbon fields will be launched in the US and Canada by Petroleum Minister Dharmendra Pradhan, an official statement said on Tuesday. "Two-day road show in Houston from July 14 and Calgary (Canada) from July 18 will be held …

  • Swiber Holdings Ltd (SWBR.SI), a Singapore-based oilfield services company, said on Friday that its $710 million offshore field development project in West Africa had likely fallen behind schedule due to weakness in the oil and gas sector. "Based on recent discussions with the client, the client is proceeding with the …

  • Wall St set to snap four-day rally as worries seep … Reuters - Tue 5 Jul, 2016 6:27 PM IST
    A trader works on the floor at the New York Stock Exchange in New York City

    Wall Street was set to open lower for the first time in five days as investors sought shelter in safe-haven assets amid a drop in oil prices and global growth worries. U.S. government bond yields were at an all-time low as weak data from China added fuel to the uncertainty stemming from Britain's vote to leave the European …

  • Offshore oil platforms are seen at the Bouri Oil Field off the coast of Libya

    Oil prices dropped more than 3 percent on Thursday, pressured by returning Nigerian and Canadian crude output from outages and as traders booked profits at the end of the best quarter in seven years. The market soared more than 25 percent in the second quarter, as part of an 85 percent rebound since hitting 12-year lows …

  • Essar eyes sale of Gujarat refinery - sources Reuters - Thu 30 Jun, 2016 7:55 PM IST
    A security guard stands next to an Essar Group logo outside the headquarters in Mumbai

    Essar Group is exploring the sale of its 405,000 barrel-per-day oil refinery in Gujarat, as the conglomerate seeks funds to reduce its debt, two sources familiar with the matter said. Essar, which is controlled by the billionaire Ruia brothers and has assets in the oil and gas, steel, ports and power sectors, has faced …

  • GE's finance unit sheds its "too big to fail" desi … Reuters - Wed 29 Jun, 2016 10:38 PM IST
    The logo of Down Jones Industrial Average stock market index listed company General Electric

    The move by the Financial Stability Oversight Council was the first time a non-banking firm has been freed from the designation, a product of the financial crash that can trigger stricter oversight and requirements to hold more capital. It was a big victory for GE CEO Jeffrey Immelt, who since April 2015 has reached agreements …

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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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