Monday, August 8

Business

Reliance Industries shares zoom 4% in early trade, here’s why
Business

Reliance Industries shares zoom 4% in early trade, here’s why

Reliance Industries stock gained 4.26 per cent to Rs 2,545 against the previous close of Rs 2,441.20 on BSE. Shares of Reliance Industries Ltd (RIL) gained over 4 per cent in early trade today after the government cut a windfall tax on diesel and aviation fuel shipments by Rs 2 a litre. The government also cut the tax on domestically produced crude to Rs 17,000 a tonne, effective July 20. Reliance Industries is a major exporter of fuel and is also engaged in the domestic production of crude. Mukesh Ambani-led Reliance Jio gained a huge 31 lakh mobile subscribers in May, which also led to strong buying sentiment around the stock today. Shares of Reliance Industries gained 4.26 per cent to Rs 2,545 against the previous close of Rs 2,441.20 on BSE. The stock was the top gainer on ...
Dollar loses steam, euro on front foot as ECB meeting looms
Business

Dollar loses steam, euro on front foot as ECB meeting looms

The U.S. dollar retreated further on Wednesday as the euro extended its overnight bounce on relief Europe might avoid the worst fears concerning energy shortages, and on the chance the European Central Bank may deliver a more aggressive rate hike. Russian gas flows via the Nord Stream 1 pipeline are seen restarting on time on Thursday after the completion of scheduled maintenance, Reuters reported on Tuesday. The euro tacked on 0.25% to $1.0245, having risen 0.75% the previous day, its strongest daily gain in a month. Aiding sentiment was news that the ECB is considering raising interest rates by a larger-than-expected 50 basis points at their meeting on Thursday. read more "If we do see Russian gas flows resume tomorrow, that will be good news for the euro/dollar and in the ne...
Electrified cars market share grows in Europe as total sales fall
Business

Electrified cars market share grows in Europe as total sales fall

The share of battery-electric cars among new registrations in Europe grew to 9.9% in April to June from 7.5% a year prior, new data showed on Wednesday, as fossil-fuel powered cars lost market share and total sales dropped. Petrol and diesel cars retained a majority of new registrations with a 55.8% share, the data from Europe's automobile association ACEA showed, but total sales fell by more than a fifth for both car types. By contrast, battery-electric vehicle sales grew 11.1%. Two-fifths of new cars sold were electrified, with hybrid cars - which outsold diesel cars for the first time in 2021 - still the most popular with a 22.6% market share. ACEA data released earlier this week showed Europe registered the fewest new passenger cars in the month of June since 1996 at just o...
Why Vedanta Ltd shares rose 9% today
Business

Why Vedanta Ltd shares rose 9% today

Vedanta stock touched an intraday high of Rs 259.75, rising 8.86 per cent against the previous close of Rs 236.80 on BSE. Stock of mining major Vedanta climbed nearly 9 per cent today after the Anil Agarwal-led firm announced second interim dividend of Rs 19.50 per share. Sentiments around the stock also turned positive with the government cutting the tax on domestically produced crude to Rs 17,000 a tonne, effective July 20. Cairn Oil and Gas, the company's subsidiary has 51 oil and gas blocks across the country. Vedanta stock opened 4.19 per cent higher at Rs 248.60 against the previous close of Rs 236.80 on BSE. Shares of Vedanta touched an intraday high of Rs 259.75, rising 8.86 per cent on BSE. Vedanta stock trades higher than 5-day and 20-day moving averages but lower than 5...
Gold price today, July 19: Gold prices climb higher by Rs 110, Check rates of yellow metal in your city
Business

Gold price today, July 19: Gold prices climb higher by Rs 110, Check rates of yellow metal in your city

New Delhi: Gold prices registered a marginal hike on Tuesday. The price of 22 carat of gold stood at Rs 46,300 per 10 grams as against its previous close of Rs 46,190. Meanwhile the price of 24 carat of gold was also trading lower. The price of 24 carat of gold stood at Rs 50,510 as against its previous close of Rs 50,390. Spot Gold prices remained soft at $1,708 an ounce. Brent crude was at $105.84 a barrel, down 0.4% and U.S. crude was 0.27% lower at $102.58, said a Reuters report. Here are the indicative price of 22 Carat Gold Today, 19 July 2022 (except GST, TCS, and other levies) Chennai : Rs 46,580 Mumbai : Rs 46,300 Delhi : Rs 46,300 Kolkata : Rs 46,300 Bangalore : Rs 46,350 Hyderabad : Rs 46,300 Kerala : Rs 46,300 Ahmedabad : Rs 46,370 Jaipur : Rs 4...
Elon Musk’s dad Errol Musk confirms he had secret second child with his 35-year-old stepdaughter
Business, News

Elon Musk’s dad Errol Musk confirms he had secret second child with his 35-year-old stepdaughter

It emerged in 2018 that Errol Musk had baby Elliot Rush, nicknamed Rushi and now five, with stepdaughter Jana Bezuidenhout, who is 41 years his junior and he had raised since she was four. San Francisco: Tech billionaire Elon Musk`s father, Errol Musk, has claimed he`s had a second unplanned child with his 35-year-old stepdaughter, Jana Bezuidenhout. In an interview with The Sun, Errol, 76, told he welcomed a daughter with 35-year-old Bezuidenhout three years ago. It emerged in 2018 that Errol had baby Elliot Rush, nicknamed Rushi and now five, with Bezuidenhout, who is 41 years his junior and he had raised since she was four. The Tesla CEO was reported to have gone "berserk" when he found out his South African engineer dad was having a child with Bezuidenhout, who lived with h...
China’s economic growth falls to 0.4% amid virus shutdowns
Business, Economy

China’s economic growth falls to 0.4% amid virus shutdowns

The world's second-largest economy shrank by 2.6%, compared with the January-March period's already weak quarter-on-quarter rate of 1.4%, official data showed Friday. Compared with a year earlier, which can hide recent fluctuations, growth slid to a weak 0.4% from the earlier quarter's 4.8%. Beijing: China's economy contracted in the three months ending in June compared with the previous quarter after Shanghai and other cities were shut down to fight coronavirus outbreaks, but the government said a stable recovery is under way after businesses reopened. The world's second-largest economy shrank by 2.6%, compared with the January-March period's already weak quarter-on-quarter rate of 1.4%, official data showed Friday. Compared with a year earlier, which can hide recent fluctuations, g...
Ousting of U.K. PM Boris Johnson won’t affect ties with Canada, trade talks
Business

Ousting of U.K. PM Boris Johnson won’t affect ties with Canada, trade talks

The Canadian government says the ousting of U.K. Prime Minister Boris Johnson by his party will not affect Canada's negotiations on a free-trade agreement. A spokeswoman for International Trade Minister Mary Ng says negotiations for the new deal will continue smoothly as Canada and the U.K. share a long history and close ties. In a statement outside Downing Street today Johnson said he will be stepping down as prime minister after demands he go from Conservative MPs and the resignation of a string of his ministers. He intends to stay on until a new leader is chosen but he is facing calls to leave office immediately, including from former Conservative Prime Minister John Major. Johnson championed closer links with Canada, including on trade, after the U.K. left the European Unio...
Obstacles beset SMEs on the road to business sustainability
Business

Obstacles beset SMEs on the road to business sustainability

PETALING JAYA: Small and medium enterprises (SMEs), the bedrock of entrepreneurship in Malaysia, still have some way to go to ensure their own sustainability. This weakness has never been so evident until Covid-19 swept across the globe from 2020. Since the pandemic began, more than 150,000 SMEs in Malaysia have shut down, leaving 1.2 million people jobless. Experts say the lack of business sustainability has made them more vulnerable to uncertainties, a situation that could have been prevented had they made it a priority to adopt their own set of sustainability goals in their operations and management practices. This failure has proven costly to the overall business climate in Malaysia, according to Sunway University’s Koh Hock Lye. He pointed out that SMEs are pivotal to t...
Monsoon Session of Parliament begins today
Business

Monsoon Session of Parliament begins today

The Monsoon Session of the Parliament will commence today, 18 July 2022, and it will conclude on 12 August 2022. There will be 18 sittings during the session spread over a period of 26 days. During the session, the Centre is ready to announce 24 Bills, including the Cantonment Bill, 2022, Press and Registration of Periodicals Bill, 2022 and the Multi State Cooperative Societies (Amendment) Bill, 2022. In addition to 24 Bills, a further eight Bills are already pending before both Houses. On Saturday (16 July 2022), Lok Sabha Speaker Om Birla chaired an all-party meeting with the floor leaders of the various parties in the Lower House. According to the media reports, the leaders of the political parties assured the Speaker of their full cooperation to ensure smooth conduct of the House...