IT/ITes

  • Sensex steady around 5-month highs; telecoms fall Reuters - 2 hours 59 minutes ago

    By Samantha Kareen Nair REUTERS - Indian shares hovered around five-month highs on Tuesday with telecoms declining ahead of an announcement by Reliance Jio Infocomm Ltd while IT stocks extended gains following ...

  • Bengaluru, Feb 20 (IANS) Global software major Infosys on Monday refuted charges by an anonymous whistleblower, who alleged that its executives had personal interests in buying the US-based Panaya firm for $200 million in February 2015. The whistleblower is reported to have mailed the letter to the Indian market regulator …

  • A private security guard stands at the exit gate of the headquarters of TCS in Mumbai

    India's top software services exporter Tata Consultancy Services(TCS) will buy back shares worth up to 160 billion rupees ($2.4 billion), it said on Monday, adding to pressure on similarly cash-rich rival Infosys to follow suit. The TCS board has approved the buyback of up to 56.1 million shares at 2,850 rupees apiece, …

  • Bengaluru, Feb 20 (IANS) Leading e-commerce major Flipkart on Monday tied up with global software major Microsoft to use its Azure cloud platform for boosting its e-tail sales. The strategic partnership was announced by Microsoft CEO Satya Nadella on his maiden visit to Bengaluru after he took over the reins of the world's …

  • A broker trades on his computer terminal at a stock brokerage firm in Mumbai

    REUTERS - Indian shares rose around 0.7 percent on Monday, erasing earlier losses to hit their highest close since September as IT stocks rallied after Tata Consultancy Services announced a share buyback ...

  • Capital inflows lift equities to new highs IANS - Sat 18 Feb, 2017 5:22 PM IST

    Mumbai, Feb 18 (IANS) Despite dismal corporate earnings and disappointing macro-economic data, the Indian equities markets continued their bull run for the fourth consecutive week supported by a rally ...

  • Indian IT industry faces twin challenges of Trump, … Reuters - Fri 17 Feb, 2017 10:46 PM IST

    Automation and the new U.S. administration were the big unknowns at the Indian tech sector's annual shindig this week, with machines threatening to take away thousands of jobs and concerns over possible visa rule changes in the key American market. The sector, led by Tata Consultancy Services, Infosys Ltd and Wipro Ltd, …

  • Mumbai, Feb 17 (IANS) Indian equities markets on Friday surged to new five-month closing high with gains of around half a per cent each, as healthy buying was witnessed in banking, healthcare, and oil ...

  • Snap lowers valuation expectations in highly awaited … Reuters - Fri 17 Feb, 2017 5:13 AM IST
    A billboard displays the logo of Snapchat above Times Square in New York

    The company, which filed for an initial public offering earlier this month, was widely expected to be valued at between $20 billion and $25 billion. The lower valuation range reflected initial investor feedback. Snap wants to ensure there is sufficient demand for shares of the company that it trades up on its first day …

  • Dow Jones barely notches sixth straight record high … Reuters - Fri 17 Feb, 2017 3:20 AM IST
    Traders work on the floor of the NYSE

    It was a mixed day on wall Street as investors digested recent gains and sold banks that have been big winners in the "Trump rally" that has seen the S&P 500 rise about 5 percent so far in 2017, with the Dow Jones Industrial Average up 4 percent. Signs of an improving economy and promises by President Donald Trump to cut …

  • Healthy macro-data lifts Indian equities IANS - Thu 16 Feb, 2017 6:28 PM IST

    Mumbai, Feb 16 (IANS) Healthy macro-data, coupled with broadly positive Asian indices and value buying, lifted the Indian equities markets on Thursday. The key domestic indices closed with gains of more ...

  • New Delhi, Feb 16 (IANS) With the Tata Consultancy Services board slated to consider buyback of equity at a meeting on Monday, a former chief financial officer (CFO) of Infosys has said that the Bengaluru-headquartered IT giant too needs to consider the buyback option for "enhancing shareholder value". "It (buyback) is …

  • European equities fell on Thursday after seven straight sessions of gains, with weaker metal prices weighing on miners and a poor update battering shares in engineering group Cobham. Companies like NN Group and Drax also dragged the market lower after their disappointing updates. The pan-European STOXX 600 fell 0.3 percent …

  • Sensex ends higher; IT stocks surge Reuters - Thu 16 Feb, 2017 3:47 PM IST
    A broker trades on his computer terminal at a stock brokerage firm in Mumbai

    REUTERS - Indian shares ended higher on Thursday, driven by gains in IT stocks after Tata Consultancy Services said its board would consider a share buyback plan next week. The benchmark BSE Sensex closed ...

  • China's overseas investment, property purchases slump … Reuters - Thu 16 Feb, 2017 11:13 AM IST

    China's non-financial outbound direct investment (ODI) slumped in January and its offshore property purchases plunged after authorities tightened restrictions on capital outflows to support the ailing yuan currency and ease pressure on the country's foreign exchange reserves. China's non-financial ODI slid 35.7 percent …

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Oil & Gas

  • FILE PHOTO - People are seen reflected in a window as they look out from an observatory in Singapore

    Singapore's proposed plan to tax greenhouse gas emissions would likely hit oil refiners hard, ramping up costs in an industry that has been central to the city-state's rapid development over the last half-century. Monday's announcement that a carbon tax on direct emitters is slated to be introduced from 2019 indicates …

  • SINGAPORE/NEW DELHI/BEIJING (Reuters) - China's Sinochem is exploring the sale of its 40 percent stake in Brazil's Peregrino offshore oilfield, four people familiar with the matter told Reuters, a deal that could see the state-owned conglomerate walk away what was once touted as a key overseas asset because of historically …

  • Russia will start initial deliveries of military helicopters to India in 2019, with assembly and manufacturing to follow in Asia's fastest growing economy, the chief executive of state-owned manufacturer Russian Helicopters said on Monday. India and Russia signed an agreement in October to jointly manufacture 200 of the …

  • Malaysian state-owned oil and gas firm Petronas is aiming to sell a large minority stake in a prized upstream local gas project for up to $1 billion as it seeks to raise cash and cut development costs, two sources familiar with the matter said. Petroliam Nasional Bhd (Petronas) is looking to sell a stake of as much as …

  • Singapore economy speeds up in Q4, government warns … Reuters - Fri 17 Feb, 2017 10:19 AM IST

    Singapore's economy grew at a faster pace in the final three months of last year than initially thought, but the government warned the outlook remained hostage to policy and protectionist risks in the United States. "If protectionist approaches become the norm, global trade will be adversely affected, with knock-on effects …

  • DBS profit slumps to 2-year low as bad debt charges … Reuters - Thu 16 Feb, 2017 8:59 AM IST
    FILE PHOTO - File photo of the logo of DBS outside an office in Singapore

    Singapore's DBS Group Holdings reported a 9% decline in quarterly profit and, like rival OCBC, booked higher provisions for bad loans, hobbled by debt payment woes in the city state's oil services sector. The results underscored a subdued outlook for Singapore's lenders this year and the potential downside risk posed by …

  • U.S. retail sales rise; inflation posts largest gain … Reuters - Thu 16 Feb, 2017 1:23 AM IST
    FILE PHOTO - Women shop for handbags at Macy's Herald Square store during the early opening of the Black Friday sales in the Manhattan borough of New York

    U.S. retail sales rose more than expected in January and consumer prices recorded their biggest gain in nearly four years, boosting prospects of an interest rate increase from the Federal Reserve next month. The economy's strengthening outlook was also bolstered by other data on Wednesday showing manufacturing and mining …

  • India awards 31 oil and gas blocks Reuters - Wed 15 Feb, 2017 8:28 PM IST

    India has approved the award of operating licences for 31 small oil and gas fields, Finance Minister Arun Jaitley told reporters on Wednesday. The world's third biggest oil consumer had received bids for ...

  • New Delhi, Feb 15 (IANS) The Union Cabinet on Wednesday approved 31 contracts for exploration of small oil and gas contract areas under the Discovered Small Fields (DSF) Bid Round 2016, Finance Minister Arun Jaitley announced here. "The decision will lead to greater investment in oil exploration, more production and employment …

  • Bengaluru, Feb 15 (IANS) Reliance Defence Limited (RDL) and Strata Manufacturing PJSC (Strata) of the UAE have signed a Memorandum of Understanding (MoU) to collaborate on advanced aerospace manufacturing capabilities, it was announed here on Wednesday. "The potential partnership, which follows extensive discussions between …

  • Mumbai, Feb 14 (IANS) Natural resources major Vedanta Ltd on Tuesday recorded an over 350 per cent jump in consolidated net profit for the third quarter ended December at Rs 1,866 crore, as compared to the same period of the last fiscal, mainly on the back of operational performance. The Anil Aggarwal-led mining company …

  • Singapore bank OCBC flags oil sector woes as Q4 profit … Reuters - Tue 14 Feb, 2017 10:01 AM IST
    FILE PHOTO - A woman walks past an Oversea-Chinese Banking Corporation (OCBC) branch in Singapore

    Oversea-Chinese Banking Corp, Singapore's second-biggest lender, flagged worries about a weak oil and gas sector after reporting an 18 percent drop in quarterly profit to a three-year low, mainly due to a jump in impairment charges. Singapore banks, long lauded for their conservative lending standards, are taking a hit …

  • Mumbai, Feb 9 (IANS) Tata Steel UK on Thursday said it signed a definitive sale agreement to sell its speciality steels business to Liberty House Group for a total consideration of 100 million pounds. "This is a good news for speciality steels and for Tata steel's core business in the UK. For speciality steels, which …

  • BP lifts break-even oil price after profit miss Reuters - Tue 7 Feb, 2017 6:57 PM IST

    BP (BP.L) raised the oil price at which it can balance its books this year to $60 a barrel on Tuesday due to higher spending following a string of investments as annual earnings fell for a second consecutive year. After the average oil price fell to its lowest in 12 years at $44 a barrel last year, BP said it expected …

  • BP may 'incrementally' increase U.S. shale portfolio … Reuters - Tue 7 Feb, 2017 4:42 PM IST

    BP is looking at ways to incrementally increase its footprint in U.S. shale oil and gas production, its Chief Executive Officer Bob Dudley said on Tuesday. Dudley said the company will use "a lot ...

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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 ...

  • 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. ...

  • 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 ...

  • 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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