Asia dips amid smouldering banking sector concerns, yen stands tall
Published on Wednesday, February 10, 2016 11:26 AM
By Shinichi Saoshiro ...
TOKYO - Asian stocks fell on Wednesday on growing concerns about the health of the world's banks, particularly in Europe, pushing investors into safer assets such as the yen, which stood near a 15-month high versus the dollar.
Spreadbetters expected the pessimism to c
Gold near highest in seven-and-a-half months on safe-haven demand
Published on Wednesday, February 10, 2016 10:33 AM
SINGAPORE - Gold was holding near a 7-1/2-month high on Wednesday as risk aversion sent investors to the safe-haven asset amid a tumble in global stock markets and concerns over the global economy.
* Spot gold ticked up 0.2 percent to $1,190.81
Oil down 8 percent on gloomy U.S., global demand outlooks
Published on Wednesday, February 10, 2016 7:53 AM
By Barani Krishnan ...
NEW YORK - Oil prices slid for a fourth straight session on Tuesday and teetered close to 12-1/2-year lows hit last month, after weak demand forecasts from the U.S. government and the western world's energy watchdog, while weak equities also pressured prices.
U.S. dollar falls with oil, equities as markets seek safety
Published on Wednesday, February 10, 2016 11:37 AM
By Dion Rabouin ...
NEW YORK - The U.S. dollar fell sharply on Tuesday to its lowest level in nearly four months, as measured by an index of major currencies, with fears of a global economic slowdown pushing investors into safe-haven currencies like the Japanese yen and Swiss franc.
Essar Oil says Rosneft stake buy in advanced due diligence
Published on Wednesday, February 10, 2016 10:50 AM
By Promit Mukherjee ...
MUMBAI - Russia's top oil producer Rosneft is still carrying out due diligence to buy a stake in Essar Oil Ltd, the Indian group which runs India's second biggest private sector refinery said on Tuesday.
Rosneft signed a preliminary deal in July last year to acquir
India gold discounts hit record highs as demand falters
Published on Wednesday, February 10, 2016 10:42 AM
By Rajendra Jadhav ...
MUMBAI - Indian gold traders say they are struggling to draw buyers despite offering record discounts over rallying international prices, as consumers wait to see if rates can fall further after the federal budget this month.
The bullion industry expects the government to c
Dr Reddy's expects emerging markets profit hit
Published on Wednesday, February 10, 2016 10:39 AM
By Zeba Siddiqui ...
MUMBAI - India's second-largest drugmaker, Dr Reddy's Laboratories Ltd, expects its earnings to remain under pressure in the fourth quarter due to currency volatility in markets such as Russia and Venezuela, its chief financial officer said.
A 28 percent slump in emer
Bad loan clean-up takes toll on state banks' earnings
Published on Wednesday, February 10, 2016 10:38 AM
By Devidutta Tripathy ...
MUMBAI - Four state-run banks reported a spike in bad loans and provisions for sour debt on Tuesday after a clean-up exercise ordered by their regulator, sending three of them to net losses for the fiscal third quarter.
Punjab National Bank (PNB), India's fourth-bigg
European shares hit lowest since Sept 2013 as banks extend falls
Published on Wednesday, February 10, 2016 10:58 AM
By Atul Prakash and Danilo Masoni ...
LONDON/MILAN - European shares turned lower in early afternoon on Tuesday to touch their lowest level in more than two years with worries about the impact on banks of sustained low interest rates keeping sentiment fragile.
The pan-European FTSEurofirst 300, w