Business
Sensex Jumps Over 150 Points in Early Trade; Nifty Tests 14,650
Equity benchmark Sensex advanced over 150 points in early trade on Friday, tracking gains in index majors HDFC twins, Asian Paints and HCL Tech amid largely positive cues from global markets. The 30-share BSE index was trading 160.43 points or 0.33 per cent higher at 48,964.11. Similarly, the broader...
Gold and Silver Prices Rise Marginally
Gold and silver prices witnessed a marginal hike in the country on Friday, April 16. For one gram of 22-carat gold, the rate increased by Re 1 as the cost stood at Rs 4,486 compared to Rs 4,485 on the previous day. The price of 10 grams of 22-carat-gold...
World Stocks Near Record Highs as China, US Data Back Global Recovery Hopes
A batch of Chinese and U.S. economic data helped underpin global stocks near record highs on Friday, as investors priced in a solid global recovery from the coronavirus-induced slump. In Asia, markets were largely steady after China reported a sharp acceleration in first quarter growth, though the reading slightly...
Turkey Bans Use of Cryptocurrencies for Payments, Sends Bitcoin Down
Turkey’s central bank banned the use of cryptocurrencies and crypto assets to purchase goods and services, citing “irrepairable” possible damages and significant risks in such transactions. In legislation published in the Official Gazette overnight, the Central Bank of Turkey (CBRT) said cryptocurrencies and other such digital assets based on...
Chinese Regulator Orders Ant Group to Conduct Major Overhaul, Cease Anti-monopoly Practices
Chinese regulators have ordered Ant Group, a financial affiliate of e-commerce giant Alibaba Group Holding, to become a financial holding company to ease financial oversight amid stepped up scrutiny of technology firms. In a meeting Monday, the central bank and other financial regulators also ordered Ant to cease anti-competitive...
China Opens 5G Signal Station at World’s Highest Radar Location Near Tibet Border
China has opened a 5G signal base at the Ganbala radar station in the remote Himalayan region of Tibet which is the world’s highest manually operated radar station at an elevation of 5,374 meters, the Chinese military’s official website reported on Monday. The mountain is located in Nagarze County...
Sebi Slaps Rs 25 Crore Fine on Yes Bank in AT-1 Bonds Case
Markets regulator Sebi on Monday imposed a penalty of Rs 25 crore on Yes Bank in the matter of misselling the lender’s AT-1 bonds few years ago. Besides, the watchdog has imposed a fine of Rs 1 crore on Vivek Kanwar, who was the head of the private wealth...
Reliance Sends Oxygen from its Refineries to Help Maharashtra Fight Covid-19 Crisis
Reliance Industries Limited is diverting 100 tons of oxygen streams produced at its refineries to help aid Maharashtra battle the steep rise in daily coronavirus cases, according to reports. RIL, which operates one of the largest refining complexes in Maharashtra has started supplying oxygen from Gujarat’s Jamnagar at no...
Citigroup to Exit 13 Global Consumer Banking Markets, Including China and India
Citigroup announced Thursday it will exit 13 international consumer banking markets, including China and India, shifting its focus to wealth management and away from retail banking where it lacks scale. Citigroup will focus its global consumer banking business on four markets: Singapore, Hong Kong, London and the United Arab...
Looking for Buyers for Business in India, No Impact on Existing Customers, Says Official
In a major move, American banking company Citigroup announced on Thursday that it will be exiting 13 international consumer banking markets, including India and China as part of its global strategy. The company said it will focus its global consumer banking business on four markets: Singapore, Hong Kong, London...
Sensex Ends 260 Points Up, Nifty Tops 14,550; TCS Jumps 4%
Equity benchmark Sensex ended 260 points higher after a volatile session on Thursday, tracking gains in index majors HDFC twins, TCS and ICICI Bank amid largely positive cues from global markets. After gyrating 877 points during the day, the 30-share BSE index ended 259.62 points or 0.53 per cent...
Exports Jump 60% in March; Falls Over 7% to $290 Billion in FY21
The country’s exports jumped by 60.29 per cent to $ 34.45 billion in March even as the outbound shipments contracted by 7.26 per cent during the full 2020-21 fiscal to $ 290.63 billion. Imports too grew by 53.74 per cent to $ 48.38 billion in March, but dipped by...
Petrol Price Cut by 16 Paise, Diesel 14 Paise; Here’s What You Need to Pay in Your City
A worker holds a nozzle to pump petrol into a vehicle at a fuel station. (File photo/Reuters) Petrol now costs Rs 90.40 per litre in Delhi, down from Rs 90.56, according to a price notification of state-owned fuel retailers. PTI New Delhi Last Updated:April 15, 2021, 19:00 IST FOLLOW...
Adani Ports Removed from S&P Index Due to Links with Myanmar Military
S&P Dow Jones Indices said it has removed India’s Adani Ports and Special Economic Zone Ltd from its sustainability index due to the firm’s business ties with Myanmar’s military which is accused of human rights abuses after a coup this year. India’s largest private multi-port operator is building a...
Centre Working on a New Stimulus Package to Combat Second Wave of Coronavirus: Report
In order to deal with the second wave of coronavirus and localised lockdowns, the Centre is likely to announce a stimulus package. According to an exclusive report by Hindustan Times, the package could provide relief to the poor if the second wave of the pandemic disrupts their livelihood. In...
Coinbase Valued at $100 Billion in Nasdaq Debut
Cryptocurrency exchange Coinbase Global Inc was valued at almost $100 billion in a Nasdaq debut on Wednesday that marked another milestone in the development of bitcoin and other digital assets. The company’s stock market debut, done through a direct listing where no shares are sold ahead of the opening,...
Rattled Chinese Tech Giants Pledge to End Unfair Competition
More than 20 Chinese tech giants have made a public pact to abide by anti-monopoly guidelines, after regulators told them to note “the warning” of a record fine against e-commerce giant Alibaba. Beijing is taking China’s tech firms to task to curtail the reach of private companies into the...
Rupee Falls 17 Paise to 75.22 Against US Dollar in Early Trade
The rupee slumped 17 paise to 75.22 against the US dollar in opening trade on Thursday following losses in domestic equity markets amid concerns over rising COVID-19 cases. Besides, foreign fund outflows also weighed on investors’ sentiment, forex traders said. At the interbank foreign exchange, the domestic unit opened...
