Wall Sreet Weekahead - Hot earnings to keep fire under growth-stock rally

NEW YORK - Don't look for the outperformance of growth stocks to fade any time soon, as long as corporate earnings continue to improve and hopes remain for stronger economic growth.

The Russell 1000 Growth index, which tracks such shares, is up 10.9 percent so far this year, outpacing the U.S. benchmark S&P 500 stock index's 6.6 percent rise and the 2.8 pe

Earnings misses, rising debts: Indian Railways turnaround hits buffers

GHAZIABAD, India - India's mammoth state railways, much of them stuck in colonial times, have missed earnings targets for the third straight year and debts have shot up, documents seen by Reuters show, raising doubts about an ambitious modernisation drive.

The previously unreported figures will make uncomfortable reading for Prime Minister Narendra Modi, the son o

Asia weighs risk and reward in Trump 'bromance' with China's Xi

BEIJING - U.S. President Donald Trump's warm words for Chinese counterpart Xi Jinping as a "good man" will reassure Beijing that he finally understands the importance of good ties, but risks leaving America's regional allies puzzling over where they fit into the new order.

The budding relationship between the two leaders appeared highly unlikely when

Ambuja Cements first-quarter profit jumps four fold on higher sales volume

India's Ambuja Cements, part of global conglomerate LafargeHolcim Ltd, on Friday reported an over four-fold surge in first-quarter net profit, as higher cement sales volume and favourable pricing offset rising costs.

Net profit jumped to 2.47 billion rupees ($38.41 million) in the quarter ended March 31, from 535.1 million rupees in the year-ago period, the cement major said. (htt

Federal Bank aims 3.25 percent net interest margin, growth across segments

MUMBAI  - Federal Bank , a mid-sized private sector lender, is targeting a net interest margin of 3.25 percent in the fiscal year that began in April by focusing on growing its books, improving loan recovery and deposit portfolio, its chief executive officer said.

The bank's net interest margin improved to 3.42 percent in the January-March quarter from 3.31 p

Sensex ends lower; posts biggest weekly gain in six

Indian shares ended lower on Friday, retreating from record highs hit this week as investors booked profits ahead of a long weekend, but indexes still posted their biggest weekly gain in six.

The benchmark BSE Sensex ended 0.37 percent lower at 29,918.40, but gained 1.88 percent for the week. The broader NSE Nifty closed down 0.41 percent at 9,304.05, but was up 2 percent for the week

FIPB abolition in final stages: Finance Minister

Abolition of the 25-year-old Foreign Investment Promotion Board (FIPB) is in the final lap and this will set the stage for more reforms in the FDI policy, Finance Minister Arun Jaitley said as per the PTI report.. He also said some "tough steps" are required so that India increasingly becomes a tax-compliant society.

Jaitley had in his Budget for 2017-18 proposed abolition o

Delhi High Court approves $1.18 billion settlement of Tata-DoCoMo dispute - TV


The Delhi High Court has approved a settlement of the $1.18 billion dispute between Tata Sons and NTT DoCoMo , allowing the Indian firm to buy out the Japanese firm's stake in the telecoms joint venture, TV news channels reported on Friday.

India's central bank had blocked Tata's offer, saying a rule change in 2016 prevented foreign i

Amazon to keep investing in tech, infra in India: Jeff Bezos

Global e-commerce major Amazon will keep investing in the Indian market to strengthen technology and infrastructure as it looks to overtake local rival Flipkart, reported PTI. The US-based company has already committed investments to the tune of USD 5 billion in India.

"Our India team is moving fast and delivering for customers and sellers... It's still day 1 for e-commerce i

India in advanced stages of formulating defence mfg policy: Finance Minister

India is in the advanced stages of formulating a policy to encourage domestic defence manufacturing and cut import of combat planes, ships and submarines, Union Minister Arun Jaitley said. Addressing the annual meeting of CII here, Finance Minister Jaitley, who holds additional charge of the Defence Ministry, said the focus would be on technological tie-ups to help India become a "manufact

Paytm parent One97 set to raise over $1.8 billion from SoftBank - report

One97 Communications, owner of electronics payments provider Paytm, is set to raise more than 120 billion rupees ($1.87 billion) from Japan's SoftBank Group , the Economic Times reported on Friday citing sources.

The deal will value Noida-based One97 at about $9 billion and provide a 20 percent stake to SoftBank, the report said. (http://bit.ly/2pnWH8l)

Moreover, One97 p

Government taking steps to reduce patent examination time: Minister

The Indian Government has said that it is taking steps, including hiring more manpower, to reduce the patent application examination time to 18 months by March next year. As per reports, at present, it takes about 48 months for the first stage of examination of a patent application.

Commenting on the issue, Commerce and Industry Minister Nirmala Sitharaman told the media, “The m

Good policy intervention unlocked huge investment in infra: Minister

The Indian Government has said that wisely crafted policy interventions not only unlocked huge investments but saw record awards for building 15,948 km highways in 2016-17.

Commenting on the issue, Union Minister Nitin Gadkari told the media, “2016-17 has surpassed all previous figures” with “issue of award letters, after completion of all preproject formalities for

Import licence norms for RF equipment should be scrapped: COAI

Cellular industry body COAI has said that the norms requiring telecom firms to acquire import licence for radio frequency (RF) equipment such as antennas and base station should be abolished as they hurt network rollout plans.

Commenting on the issue, a COAI Official told the media, “A single window clearance process should be established for the satellite spectrum assignment co

Commercial coal mining to reduce power cost: Coal Secretary

A top official has said that the opening up of commercial coal mining to private companies will bring in competition in the coal sector and reduce power tariff. Commenting on the issue, Coal Secretary Susheel Kumar told the media, "Let's begin by saying commercial coal mining is a very big reform in the coal sector and the idea is to bring in competition for the monopoly coal miner, wh

Government ratifies 8.65% rate of interest on EPF for FY17

The government has ratified 8.65 per cent rate of interest on EPF deposits for 2016-17 which would now be credited into the accounts of members of the retirement fund body EPFO, reported PTI. The Employees Provident Fund Organisation (EPF) has asked its field formation to credit 8.65 per cent rate of interest into the accounts of subscribers after the Labour Ministry informed the body about app

CAIT to launch campaign for promoting digital payments

Traders body CAIT said it has joined hands with HDFC Bank, MasterCard and Tally Solutions to launch a national campaign for promoting digital payments to enable a seamless transition to the Goods and Service Tax (GST) regime, reported PTI. Confederation of All India Traders (CAIT) said through this association, "We aim to educate and equip non-corporate entities for successful adoption of

Government to resolve NPA issue very soon: Minister

The Indian Government has said that it is not worried about the huge load of bad loans of public sector banks and a likely solution will be worked out soon. The Government also assured that the issue of NPAs would be resolved very soon. Commenting on the issue, Union minister Santosh Kumar Gangwar told the media, "Non-performing assets (NPAs) are not a subject to worry about too much.

Hopeful GST slab will be low for tourism sector

 The Travel Agents Federation of India (TAFI) on Thursday said it is hopeful that the Union government will keep the GST rate low for the tourism sector.

"Anything new that gets rolled out will have a teething problem. What we are looking at is the percentage which is going to be implemented. The lower the percentage, it is good for us because this tax component has to be bo

Negative global cues pull Indian equities lower

Negative global cues and heavy selling pressure in banking and FMCG goods pulled the Indian equity markets lower during the early morning trade session on Friday.

The wider 51-scrip Nifty of the National Stock Exchange (NSE) fell by 32.65 points or 0.35 per cent to 9,309.50 points.

The barometer 30-scrip BSE Sensex, which opened at 30,064.60 points, traded at 29,954.74 point

Earnings misses, rising debts: Indian Railways turnaround hits buffers

GHAZIABAD, India  - India's mammoth state railways, much of them stuck in colonial times, have missed earnings targets for the third straight year and debts have shot up, documents seen by Reuters show, raising doubts about an ambitious modernisation drive.

The previously unreported figures will make uncomfortable reading for Prime Minister Narendra Modi, the

Oil rises on potential OPEC cut extension, but still faces second weekly loss

SINGAPORE - Oil prices rose on Friday but were still on track for a second straight weekly loss on concerns that an OPEC-led production cut has failed to significantly tighten an oversupplied market.

U.S. West Texas Intermediate (WTI) crude was at $49.43 per barrel at 0649 GMT, up 46 cents, or 0.94 percent, from their last close. However, WTI is still set for a small

Gold set for worst week in seven as investors opt for riskier assets

BENGALURU  - Gold was little changed on Friday and poised for the biggest weekly fall in seven weeks as investors sought out higher returns than those from holding the non-interest bearing yellow metal by buying into riskier assets .

Spot gold was up 0.1 percent at $1,264.81 per ounce, as of 0312 GMT, while U.S. gold futures were steady at $1,266.30.


Rice prices rise in India on stronger rupee; stable in Thailand, Vietnam

MUMBAI/BANGKOK/HANOI - Rice prices in India rose on a stronger rupee, while markets in Thailand and Vietnam remained quiet, traders said on Thursday.

In India, the world's biggest rice exporter, prices for 5-percent broken parboiled rice rose by $3 to $387-$392 a tonne this week on an appreciation in the rupee and a rise in paddy prices in the local market.

India, Poland ink agriculture agreement

India and Poland on Thursday signed an agreement on the exchange of information and technology in the agriculture sector.

The agreement, signed by Minister of State of Small Industries Giriraj Singh from the Indian side, will see cooperation between the two nations and emphasise on the need to expand their trade relations.

The signing ceremony took place after the formal tal