The XC 40 from Volvo was first launched in India in 2018 and managed to turn several heads with its typically Scandinavian looks and an exhaustive feature list. That it was offered 2.0-litre, four-cylinder diesel engine, however, may have been a folly, as the move away from diesel had already […]
After US-China trade deal, Sensex hits record high of 42,000 in early trade
Market benchmark Sensex on Thursday scaled the 42,000 mark for the first time ever and Nifty hit its record peak in opening session tracking positive cues from global equities after the US and China signed an initial trade deal. After hitting a record peak of 42,009.94, the 30-share BSE index […]
India’s weak economy likely to halt jump in company bond yields
India’s corporate borrowers, hit by a slowing economy and a recent up-tick in borrowing costs, can likely expect a helping hand from the central bank. A jump this week in Indian corporate bond yields due to surprisingly high inflation data is unlikely to persist as weak economic growth puts pressure […]
After phase one trade deal with China, US stocks edge to records
The Dow and S&P 500 edged to records Wednesday following a volatile session after the US and China signed a long-awaited trade agreement. The Dow Jones Industrial Average gained 0.3 per cent to finish at 29,030.22, and the broad-based S&P 500 added 0.2 per cent to 3,289.30. The tech-rich Nasdaq […]
‘Amazon to invest $1 bn in digitising small businesses in India’: Jeff Bezos
Amazon.com Inc will invest $1 billion in digitising small- and medium-businesses in India and expects to export $10 billion worth of India-made goods by 2025, its founder Jeff Bezos said on Wednesday. Speaking at a company event in New Delhi, Bezos also said he feels the 21st century is “going […]
Why a $453 billion bond manager is shifting bets from India to China
Western Asset Management Co. is reducing its Indian government bond holdings as tensions around a new citizenship law and the Kashmir region cloud the economic outlook. The $453 billion investor, an affiliate of Legg Mason Inc., is diverting some of its funds into longer-dated Malaysian and Chinese debt, according to […]
Sensex drops nearly 200 points; Nifty near 12,300 in early trade
Equity benchmark Sensex dropped nearly 200 points in opening session on Wednesday as global investor sentiment dampened after the US said its initial trade deal with China does not include tariff rollback. The 30-share BSE index was trading 190.81 points or 0.45 per cent lower at 41,761.82. Similarly, the broader […]
Retail inflation at 5-year-high, vegetables 60% expensive; to hurt economic recovery
Retail inflation rose by 7.35% in December, the most since July 2014, driven largely by higher vegetable prices, and to some extent by an increase in phone tariffs, posing a political and economic challenge to the Narendra Modi government. Analysts fear that the number, in excess of the upper band […]
CCI orders anti-trust probe against Flipkart, Amazon
The Competition Commission of India (CCI) on Monday ordered a probe into alleged competition law violations by Amazon and Walmart Inc.-owned Flipkart over allegations that the e-commerce majors promoted and gave discounts to ‘preferred’ sellers, entered into exclusive partnerships with smartphone brands and abused their dominant position. CCI noted four […]
Boeing can be ‘much better’, new CEO David Calhoun tells employees
Boeing Co’s new chief executive, David Calhoun, assumed the job on Monday as the US planemaker battles to recover from two fatal crashes of 737 MAX planes that killed 346 people in five months and led to the model’s worldwide grounding in March. Calhoun, 62, a longtime Boeing director named […]
US drops China as currency manipulator ahead of trade deal
The Trump administration on Monday lifted its designation of China as a currency cheat, saying the nation has made “enforceable commitments” not to devalue the yuan and has agreed to publish exchange-rate information. The change in the US stance was outlined in the US Treasury Department’s semiannual foreign-exchange report […]
Rupee rises by 8 paise to 70.78 against US dollar in early trade
The rupee appreciated by 8 paise to 70.78 against the US dollar in early trade on Tuesday as sign of easing tensions between the US and China strengthened investor sentiments. The United States on Monday removed the currency manipulator label it imposed on China last summer and forex traders believe […]
Stocks end at record high on budget hopes
Indian stocks closed at all-time highs on Monday, powered by hopes of a favourable budget and global optimism over the upcoming US-China trade deal. The BSE Sensex gained 259.97 points, or 0.62%, to 41,859.69, while the broader 50-share Nifty rose 0.59% to 12,329.55. Among global markets, China, Hong Kong and […]
Global banks urge EU to ‘improve’ market access as Brexit looms
International banks have called on the European Union to make its system for financial market access more transparent and predictable to avoid hurting markets and consumers. The Association for Financial Markets in Europe (AFME), whose members include major international banks and asset managers, said it was “timely” to review and […]
Oil threat looms for India as inflation set to breach 6% limit
Rising oil prices add a new risk to already surging inflation in India, clouding the outlook for monetary policy and threatening a nascent rally in sovereign bonds. Oil briefly rose above $70 a barrel last week for the first time since September amid U.S.-Iran tensions, and while they’ve since eased, […]