21:56 The Iraqi army on Thursday launched an offensive to drive Islamic State from the town of Hawija, one of the group’s few remaining strongholds in the country and a hub it uses to threaten the oil-rich city Kirkuk and Iraq’s semiautonomous Kurdish region, Wall Street Journal reported.
21:52 India and Canada are close to "firming up" the dates of Prime Minister Justin Trudeau's visit to New Delhi, Canadian High Commissioner Nadir Patel said today.
21:51 Condemning terrorism in all its forms and manifestations, External Affairs Minister Sushma Swaraj has told her counterparts from the Shanghai Cooperation Organisation that there can be no justification for any acts of terrorism.
21:49 Nineteen patients died after taking a liver disease drug from Intercept Pharmaceuticals Inc., a higher total than the company had previously given, according to report by Bloomberg based on a safety announcement by the US Food and Drug Administration.
21:45 The NCP today announced it will fight the Nanded civic polls solo, even as it asserted it will beat the Congress in the upcoming elections.
20:56 Indian spinner Kuldeep Yadav today became the third Indian player to get a hat-trick in one day internationals after Chetan Sharma and Kapil Dev.
20:54 China is mulling a year-round ban on fireworks in Beijing in a bid to combat heavy air pollution and casualties caused by crackers during festivals.
A draft amendment on Beijing municipal fireworks safety and management regulations was today rendered to the Standing Committee of the Beijing Municipal People’s Congress (BMPC) for deliberation.
20:52 US President Donald Trump and South Korean President Moon Jae-in will hold talks on North Korea's nuclear crisis on Thursday amid tensions over whether Trump's harsh rhetoric against North Korean leader Kim Jong Un could lead to a miscalculation, Reuters reported.
20:48 Aam Aadmi Party (AAP) convener and Delhi chief minister Arvind Kejriwal met actor Kamal Haasan today in Chennai and urged him to enter politics.
20:08 Reliance Jio has approached Telecom Secretary Aruna Sundararajan for cancellation of the mobile tender for the North-East awarded to Bharti Airtel, alleging that it limits project deployment to only 2G services.
20:05 Aviation regulator DGCA has granted aerodrome licence to the Shirdi airport in Maharashtra, paving the way for much-awaited flight operations from the temple town.
19:53 Tamil Nadu government today informed the Madras High Court that the seventh pay commission recommendations would be implemented in another four to five months.
19:47 A group of ministers, headed by Finance Minister Arun Jaitley, today discussed in details the modalities for the strategic disinvestment of Air India, official sources said.
19:45 Banned currency notes worth Rs 2.46 crore were seized from Perinthalmanna in the district today and six persons arrested in this connection, police told PTI.
19:42 Russian Energy Minister Alexander Novak today said OPEC and non-OPEC countries would discuss a monitoring procedure for oil exports at a meeting in Vienna.
Ministers from the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers are scheduled to meet in Vienna on Friday and are due to consider extending output cuts that began in January, Reuters reported.
19:36 President Donald Trump said on Thursday the United States would be adding more sanctions on North Korea, Reuters reported.
19:08 BJP MLA Pankaj Singh today pitched for the formation of a municipal corporation in Noida to manage its civic affairs.
19:04 US President Donald Trump will be making sanctions-related announcement on North Korea, according to a tweet by Reuters.
19:00 The after-effects of the demonetisation exercise and the GST implementation will continue even into the next financial year, the Organisation for for Economic Co-operation and Development has said, while cutting India’s growth forecast for fiscal 2018-19 by half a percentage point.
18:51 Following two separate incidents at Delhi and Mangalore airports involving suspicious power banks this week, the aviation security regulator has now written to NIA and Intelligence Bureau to carry out an investigation.
18:47 According to a report by ANI, hours after the Calcutta High Court lifted the restrictions on Durga idol immersion imposed by West Bengal government this year, Chief Minister Mamata Banerjee today said, “I will do what I can to keep peace. Someone can slit my throat but no one can tell me what to do.”
18:38 The number of Americans filing for unemployment benefits unexpectedly fell last week, Reuters reported, but the data continued to be influenced by Hurricanes Harvey and Irma, muddying the labor market picture in the near term.
18:35 The Centre has directed states to submit strategies for tackling health challenges posed by climate change and extreme weather conditions in their respective regions as part of a comprehensive national-level strategy which is in the works.
18:35 The CPI today said the politicalsituation in Tamil Nadu was turning "from bad to worse" and blamed the BJP for the recent developments in the state.
18:29 State-run Power Finance Corporation has received shareholders' approval to raise up to Rs 65,000 crore through issuance of securities on private placement basis.
18:25 Indian oil PSUs are mulling to acquire up to 20 percent stake in an oil field belonging to Abu Dhabi National Oil Company (ADNOC) in UAE, Utpal Bora, CMD of Oil India Limited said today.
18:24 The UIDAI has slapped notices on Bharti Airtel and Airtel Payments Bank over its retailers allegedly opening payments bank accounts without taking "informed consent" of customers who go for Aadhaar-based mobile SIM verification.
18:23 Mining billionaire Anil Agarwal plans to purchase up to 1.5 billion pounds worth of additional stake in blue-chip British miner Anglo American Plc to become its largest shareholder with over 21 percent holding, his family trust said.
18:22 Prime Minister Narendra Modi will begin a two-day visit to his Varanasi Lok Sabha constituency tomorrow, during which he will inaugurate several infrastructure projects and address public meetings, officials told PTI today.
18:22 Karnataka Chief Minister Siddaramaiah today said his government was opposed to the formation of the Cauvery Management Board and that the lawyers representing the state had been asked to put forward this position very strongly in the Supreme Court.
18:20 Industry body Assocham today urged the Uttar Pradesh government to prepare three special economic zones (SEZs) for solar energy development and try to encourage private players in the field.
18:18 Odisha is likely to receive rainfall in next 24 hours as yesterday's low pressure took the form of a well marked low pressure area over northern
parts of central Madya Pradesh and neighbourhood.
17:30 Watch Moneycontrol Correspondent Uttaresh Venkateshwaran speaking to Maryam Farooqui and reviewing the market.
17:18 The government is considering a plan to loosen the fiscal deficit target so that it could spend an additional Rs 50,000 crore in the financial year ending in March 2018, two government sources told Reuters on Thursday.
17:00 West Bengal Chief Minister Mamata Banerjee got her decision overruled today when the Calcutta High Court struck down a state circular that barred immersion of Durga idols post 10 pm on September 30.
16:58 Chief of BJP's Scheduled Caste Cell, Vinod Sonkar, today said there should be a national debate on the issue of reservation in promotions in government jobs.
16:56 Congress president Sonia Gandhi has written to Prime Minister Narendra Modi, urging him to get the women's reservation bill passed in the Lok Sabha by taking advantage of the BJP's majority in the House.
16:17 Private sector lender Bandhan Bank today said it is planning to come out with initial public offer (IPO) in the early part of the next fiscal.
15:58 Consumer sentiment during the ongoing festive season remains muted and there is unlikely to be a major surge in festival buying this year, says a LocalCircles report. While around 52% of the 7,659 citizens polled said their spending may be limited to Rs 10,000 during the festive season, 28% said they will not be spending anything, the survey conducted by citizen engagement platform stated.
However, the survey noted that 19% respondents will be making a reasonable spending of Rs 10,000 to Rs 30,000. "These 19% of the middle class is what the retailers and manufacturers are expecting will give a boost to buying during the festive season," it added.
15:51 Maharashtra Congress strongman Narayan Rane has quit the party. He is believed to be joining the Bharatiya Janata Party.
15:44 Delhi Chief Minister and AAP leader Arvind Kejriwal visited Tamil actor Kamal Haasan in Chennai today. The two earlier had a lunch meeting for close to an hour. The meeting created a flutter in the political world as Haasan has announced his decision to join politics. Addressing mediapersons, Haasan said entering into the political fray has been a learning curve for him. “I have sought advice from Arvind Kejriwal before my political plunge.”
When asked about his reasons for meeting Haasan, Kejriwal said he met the actor as he felt strongly about the communal forces that are plaguing the nation nowadays.
Haasan has been politically very active of late, often times levying corruption charges against the AIADMK government in Tamil Nadu. He had congratulated the CPI(M)-led LDF government in Kerala for "good governance" on its first anniversary in May this year. He fuelled speculation about his expected political plunge when he attended an event organised by the DMK party in Chennai last month. Haasan had been opposing the ruling AIADMK in Tamil Nadu, whose political adversary DMK has voiced support for him.
15:27 Standard & Poor's has slashed China's credit rating, warning that a prolonged period of debt growth had raised "economic and financial risks", reports AFP. The New York based entity, which downgraded China's debt from AA-minus to A-plus, is the second major credit ratings agency to slash the Asian giant's rating after Moody's made the same decision in May. "The downgrade reflects our assessment that a prolonged period of strong credit growth has increased China's economic and financial risks," it said.
15:22 SBI Life Insurance Company's Rs 8,400 crore initial public offer has been subscribed 37% on Day 2. The IPO has received bids for 3.26 crore equity shares against an issue size of 8.8 crore shares, excluding the anchor investors' portion.
15:20 The Mamata Banerjee-led West Bengal government received a huge setback on Thursday as the Calcutta High Court struck down the state’s circular banning immersion of Durga idol post 10 pm on September 30 in view of Muharram. The court has now ruled that immersion can take place on all days and at night, including Muharram, which falls on October 1. It has asked the West Bengal government to ensure different immersion routes for both communities.
15:09 Central government employees will not get a daily allowance on Leave Travel Concession (LTC), according to an official order. The LTC allows the grant of leave and ticket reimbursement to employees who are entitled under the rules to travel to their home towns and other places, reports PTI. Employees were earlier entitled to an allowance which varied with their ranks. Any incidental expenses and the expenditure incurred on local journeys shall not be admissible under LTC, said an order issued by the Department of Personnel and Training (DoPT) on Wednesday.
15:05 Cadila Healthcare's US arm, Zydus Pharmaceuticals USA, is recalling 44,800 bottles of antidepressant Paroxetine tablets from the American market, the US health regulator said. In its latest Enforcement Report, United States Food and Drug Administration (USFDA) has said Zydus Pharmaceuticals USA is recalling the Paroxetine tablets in the strength of 30 mg, manufactured by Cadila Healthcare. The reason for recall is presence of foreign tablets. "Risperidone tablets were found in bottle of paroxetine tablets", the report said.
14:34 Britain unexpectedly posted its smallest budget deficit for any August since 2007, helped by record sales tax revenues for the month in a boost for Finance Minister Philip Hammond, reports Reuters. The deficit in August stood at GBP 5.7 billion, down 18% compared with the same month last year, the Office for National Statistics said on Thursday, citing figures that exclude state-controlled banks. August’s surprisingly strong performance followed an unexpected budget surplus in July, a boon for Hammond who is under pressure to relax his grip on spending when he announces budget plans in November.
14:28 Akshara Haasan received Delhi Chief Minister and AAP co-founder Arvind Kejriwal at Chennai Airport, reports ANI. Kejriwal has arrived at Kamal Haasan's residence. The move assumes significance as the politically-active actor and filmmaker has hinted that he may join or launch a political party, but not in haste.
14:12 Given the lack of considerable space both on the monetary and fiscal front to support economic growth, part of the country's forex reserves can be used to support GDP numbers, says a Deutsche Bank report. Forex reserves could be used for funding growth-critical public infrastructure projects and the macro backdrop is also suitable for this, it stated. "If USD 15 billion worth of forex reserves were channelled toward public investment in infrastructure, this would reduce total reserves by only 3.5% but would add about 0.6% to GDP, which could help to support growth in the near term," the global financial services major said.
13:59 Maharashtra Navnirman Sena Chief Raj Thackeray claimed that the BJP government was in talks with gangster Dawood Ibrahim to get him to India in a bid to rake electoral dividends before the 2019 parliamentary polls, reports CNN-News18. “Dawood wants to come back to India, he is involved in talks with the Centre to come to India, he himself wants to come back to India as he is handicapped and wants to spend his last days in India. While Dawood wants to come back on his own, the BJP will use it by getting him back before the elections to get votes,” the MNS Chief claimed.
13:36 India skipper Virat Kohli elected to bat after winning the toss against Australia in the second ODI in Kolkata. India are fielding an unchanged side from the last game in Chennai which they won by 26 runs while Australia have made two changes to their side. Right-arm fast bowler Kane Richardson comes in place of James Faulkner while leg-spinner Adam Zampa makes way for left-arm spinner Ashton Agar. To get ball by commentary and the live scorecard, click here
13:25 Prime Minister Narendra Modi is considering a Rs 40,000 crore fiscal stimulus to boost exports, support MSMEs, and expand bank credit, even at the cost of letting the fiscal deficit widen a little, reports ET Now. In the face of slowing economic growth, the government is considering giving itself some elbow room on fiscal deficit as it believes a fiscal stimulus is more crucial than maintaining fiscal deficit.
13:15 The Rohingyas are illegal immigrants and not refugees who have applied for asylum in India, Union Home Minister Rajnath Singh said. "The Rohingyas are not refugees. They have not come here after following proper procedures. No Rohingya has applied for asylum. They are illegal immigrants," he stated. Rohingyas are minority Muslims in western Myanmar and have been fleeing their homes following an army crackdown on their villages that has left hundreds dead.
13:14 The Delhi Police told the Delhi High Court that it wanted to embark upon a new mode of investigation, called forensic psychology, in the death case of Congress MP Shashi Tharoor's wife Sunanda Pushkar, reports PTI. The police told a bench of Justices G S Sistani and Chander Shekhar that this mode of investigation would take a maximum of eight weeks after which it will file its report. Responding to the police's appeal, the bench said the probe started in 2014 and it was September 2017 now when the agency wants to pursue an additional mode of investigation. The court then asked the police, "should any investigative agency drag the probe for so long?"
12:40 Terrorists have hurled a grenade at the convoy of a J&K minister in the Tral region, killing two civilians and leaving at least 30 others injured, reports CNN-News18.
12:37 Tata Motors has launched Nexon with a price tag of Rs 585,000 ex-showroom Delhi.
12:32 The Central Bureau of Investigation has arrested retired Odisha High Court judge Ishrat Masroor Quddusi and four others in connection with a corruption case, reports PTI. The arrests were made late last night after a detailed search operation at eight locations, including the residence of Justice (retired) Quddusi in Greater Kailash here. Searches were also carried out in Bhubaneswar and Lucknow. The others arrested in the case were BP Yadav and Palash Yadav of the Prasad Educational Trust which runs a medical college in Lucknow, Biswanath Agrawala, a middleman, and hawala operator Ramdev Saraswat. "The arrested accused will be produced before a competent court today," a CBI spokesperson said.
12:26 Orchid Pharma has received the Establishment Inspection Report (EIR) from US Food and Drug Administration (USFDA) on the successful inspection of the Active Pharmaceutical Ingredients (API) manufacturing facility located at SIDCO Industrial Estate, Aalthur, Kanchipuram District, Tamil Nadu. This facility was inspected by USFDA in May 2017.
12:07 Whether or not the Federal Reserve leads the US economy into recession depends on whether or not it sticks to its forecast for the federal funds rate, noted bond investor Bill Gross told CNBC. "If they followed their plan … which basically projects over the next two years for fed funds to reach 2.8% or even 3%, a 170 basis point increase, then yes a recession is possible," the Janus Henderson Investors portfolio manager said.
11:44 The Centre has announced a new public-private partnership (PPP) policy to promote private investment in affordable housing, reports NewsRise. Assistance of Rs 250,000 per house will be made available for building houses on private lands.
11:40 The Finance Ministry has clarified that rumours of the resignation of Chief Economic Advisor Arvind Subramanian are incorrect. ABP News had reported that the CEA, whose term is expiring soon, was considering resigning before his term ends. However, CNBC-TV18 quoted Finance Ministry officials as saying that the speculation was incorrect.
11:37 The initial public offering of SBI Life Insurance Company has been subscribed 12% so far on Day 2, latest data available on exchanges show. The 12 crore share issue received bids for 1.09 crore shares against its IPO size of 8.82 crore shares, excluding the anchor investors' portion.
10:53 The National Company Law Appellate Tribunal (NCLAT) has rejected Cyrus Mistry's plea of maintainability against the Tata Sons. The petitions alleged mismanagement and oppression of minority shareholders. Mistry's two investment firms - Cyrus Investments Pvt and Sterling Investments Pvt - had moved the NCLAT over maintainability of their petitions filed against the Tata Group and waiver from 10% shareholding threshold required for it under the Company Act 2013. The Companies Act mandates that a petitioner should hold at least one-tenth of the issued share capital of a company or represent 10% of the total number of members to file cases alleging mismanagement and oppression of minority shareholders.
10:42 Congress Vice President Rahul Gandhi asserted that there was a growing concern in the US over threats to tolerance in India and asked the Non-Resident Indians (NRIs) to stand up against the "forces" that helped in dividing the nation, reports IANS. Speaking at a meeting on Wednesday organised here by the Indian National Overseas Congress (INOC), he said during his current visit to the US, he met people from the Administration and also member of the Republican and Democratic parties who asked him: "What happened to the tolerance that prevailed in India? What happened to the harmony?"
10:36 Delhi Chief Minister Arvind Kejriwal is likely to meet actor Kamal Haasan, who is set to venture into the world of politics soon, in Chennai at 2 pm today, reports CNN-News18.
10:29 The situation on the Korean peninsula is getting more serious by the day and cannot be allowed to spin out of control, Chinese Foreign Minister Wang Yi told his German counterpart, reports Reuters. A resolution to the North Korea issue cannot only rely on sanctions and not talks, Wang said.
10:23 An interim resolution professional (IRP) for Bhushan Power & Steel has sought a potential resolution plan from prospective parties, reports CNBC-TV18. Mahendra Kumar Khandelwal was appointed as the IRP in the case under an order passed by the National Company Law Tribunal (NCLT) on July 26. The Delhi-based entity, which owes over Rs 37,000 crore to a consortium of lenders led by Punjab National Bank, was among the 12 large companies identified by the Reserve Bank of India (RBI) where banks were directed to initiate insolvency proceedings.
10:19 Dr Reddy's Laboratories is up 6% after it received an establishment inspection report (EIR) from the US Food and Drug Administration (USFDA) for formulation Srikakulam plant (SEZ) Unit II, Andhra Pradesh. The audit of this facility by the USFDA had been completed with zero observations on May 25.
10:15 Pakistan Prime Minister Shahid Khaqan Abbasi demanded that the UN Security Council resolution on Kashmir be implemented, asserting that his country will continue to support the right of self-determination for Jammu & Kashmir, reports PTI. Identifying Kashmir as the core issue with its eastern neighbour, Abbasi exuded confidence that the resolution will help address the contentious issue.
10:12 Online match-maker Matrimony.com listed at its issue price of Rs 985 per share, but surged 3% later in a down trending market. The company raised Rs 500 crore through the issue that comprised a fresh issue of up to Rs 130 crore and an offer for sale of up to 37.67 lakh equity shares.
09:58 Software firm Mindtree share price fell over 2% as Siddhartha and Coffee Day Enterprises hold some stake in the company. The Income Tax Department is currently conducting raids at about 24 places, including Siddhartha’s residence. Siddhartha holds 3.25% stake in the software firm while Coffee Day Enterprises and Coffee Day Trading have 10.39% and 6.3% stake, respectively.
09:37 The Income Tax Department is conducting search operations at multiple locations of Café Coffee Day, reports CNBC-TV18. Search operations are underway at the residence of VG Siddhartha, CMD of Café Coffee Day, residence. Operations are underway in about 24 places, including Mumbai, Chennai and Chikmagalur.
Siddhartha is the son-in-law of Congress veteran and former Karnataka Chief Minister SM Krishna who joined the BJP in March this year. He is an entrepreneur and venture capitalist. The stock has corrected over 5% on this news.
09:21 Jaideep Hansraj, Chief Executive Officer of the wealth management unit of Kotak Mahindra Bank, one of the largest advisers to the country’s rich, said India’s booming stock market could be nearing a peak, reports Bloomberg. But he doesn’t recommend selling out of the Indian stock market just yet, rather that his wealthy clients hedge some of their positions against any sudden reversal. “There is no question about the fact that valuations are stretched right now," Hansraj said, adding: “But no one knows how long this liquidity-driven party is going to continue and a re-entry may be tough. So, we are advising clients not to sell, but to hedge investments in stocks.”
09:10 China sees job losses as shops close along North Korea border, reports Bloomberg. Along China’s border with North Korea, residents are more worried about feeding their families than the possibility of nuclear war. In Hunchun, a city of about 230,000 people near China’s shared frontier with North Korea and Russia, protests briefly broke out last month after the United Nations Security Council approved sanctions banning exports of seafood and other goods from Kim Jong Un’s regime. Dozens of wholesale stores were shuttered, dealing a blow to the packagers, distributors, drivers and restaurateurs who depend on the trade.
08:56 The Bank of Japan kept its monetary policy steady on Thursday and maintained its upbeat view of the economy, signalling its conviction that a solid recovery will gradually accelerate inflation towards its 2% target without additional stimulus, reports CNBC.
08:49 Aircraft movements at the main runway of the Mumbai airport was restored last night after the airport operator removed the SpiceJet aircraft which had skidded after landing amid heavy rains on Tuesday, reports PTI. The operations at runway 09/27 resumed at around 11:30 pm after SpiceJet Boeing 737 was moved to the paved area and subsequently to a hanger, a Mumbai International Airport official said.
08:42 ITC, the Kolkata-based cigarette-to-noodles maker, has set an internal target of generating Rs 65,000 crore from packaged foods by 2030 to reach its goal of Rs 1 trillion revenue from non-cigarette packaged goods by that time.
08:28 Pakistan Prime Minister Shahid Khaqan Abbasi said his country has developed short-range nuclear weapons to counter the 'cold start doctrine' adopted by the Indian Army, reports PTI.
08:25 Japanese Prime Minister Shinzo Abe rallied behind the US warning that "all options" are available to deal with North Korea and declared the time for dialogue over, reports AFP. Addressing the United Nations General Assembly, Abe said "there is not much time left" to take action on North Korea which in recent weeks has detonated another nuclear bomb and fired a series of missiles over or near Japan.
08:20 South Korea approved a plan on Thursday to send USD 8 million worth of humanitarian aid to North Korea, the South’s Yonhap News Agency reported, as part of an aid policy that the government says remains unaffected by geopolitical tensions with the North. It comes just after the United Nations approved a raft of new sanctions against North Korea for its sixth nuclear test earlier this month.
08:17 Online match-making services provider Matrimony.com is set to debut on the bourses today. The final issue price is fixed at Rs 985 per share - the higher end of the price band.
08:09 Reliance Jio has announced that its 4G hotspot hub JioFi will be available at a 50% discount under a new festival special offer. This limited period validity is available at a price of Rs 999.
08:04 State-owned Bharat Sanchar Nigam (BSNL) has come up with its disruptive offering to take on Reliance Jio where it will give unlimited local and STD calls from BSNL to BSNL coupled with 1GB data per day for Rs 249.
07:53 Hurricane Maria, the strongest storm to strike Puerto Rico in nearly 90 years, carved a path of destruction through the US territory on Wednesday, causing widespread flooding and knocking power out across the island after killing at least nine people elsewhere in the Caribbean, reports Reuters. Maria, the second major hurricane to roar through the region this month, was generating sustained winds of up to 250 km per hour when it came ashore near Yabucoa, on the southeastern end of the island of 3.4 million people.
07:51 Mexican rescuers laboured for a second night amid the rubble to save possible survivors of the country’s most lethal earthquake in a generation, including a girl trapped under a school in Mexico City, as the death toll exceeded 230, reports Reuters.
07:49 British police said on Thursday they had made a sixth arrest linked to Friday’s tube attack in Parsons Green, London that injured 30 people, reports Reuters. The arrest of a 17-year-old man was made in Thornton Heath in South London, they said.
07:47 Alphabet Inc’s Google is set to announce a deal to acquire part of Taiwanese firm HTC Corp’s smartphone operations for about USD 1 billion, reports Reuters. The deal will not involve the purchase of a direct stake and HTC will continue to run its remaining smartphone business.
07:43 North Korean Foreign Minister Ri Yong Ho called US President Donald Trump’s address to the United Nations “the sound of a dog barking”, brushing aside Trump’s remarks that the United States may be forced to “totally destroy” North Korea, reports Reuters. “There is a saying that goes: ‘Even when dogs bark, the parade goes on’,” said Ri.
07:35 The Bank of Japan is expected to reassure markets today that it will lag well behind its US counterpart in scaling back its massive stimulus, as an improving economy has yet to boost inflation anywhere near its elusive 2% target, reports Reuters.
07:34 Gold fell to its lowest level in over three weeks on Thursday as a stronger dollar and the increasing likelihood of another Federal Reserve interest rate hike this year curbed demand.
07:33 Oil prices settled up 2% on Wednesday despite a rise in US crude inventories, with the market heading for its largest third-quarter gain in 13 years after the Iraqi oil minister said OPEC and its partners were considering extending or deepening output cuts. Crude prices were on course for a nearly 16% rise this quarter, which would make this year’s performance the strongest for the third quarter since 2004.
07:31 The S&P 500 and the Dow ended slightly higher on Wednesday, adding to their string of closing records, after the Federal Reserve signalled it expects another interest rate hike by year-end and disclosed timing for reducing its balance sheet. The Dow Jones Industrial Average rose 41.79 points, or 0.19% to end at 22,412.59, its seventh straight record close. The S&P 500 gained 1.59 points, or 0.06%, to 2,508.24, clocking its sixth record closing high in the last seven sessions. The Nasdaq Composite dropped 5.28 points, or 0.08%, to 6,456.04, with Apple Inc as its biggest drag.
07:29 The dollar shone while Asian shares slipped slightly on Thursday after the US Federal Reserve announced a plan to start shrinking its balance sheet and signalled one more rate hike later this year. Japan's Nikkei gained 0.8% thanks to the yen's fall against the dollar.
07:26 Growth rates among the world’s major economies are synchronising at levels not seen in years as the euro zone catches up with United States, the Organisation for Economic Cooperation and Development said on Wednesday. The global economy is set for 3.5% growth this year before reaching 3.7% next year, up marginally from estimates in June and the best rate since 2011, it stated.
07:21 India is considering ways to revive its slowdown-hit economy and will unveil the “necessary” steps once Prime Minister Narendra Modi signs off on them, Finance Minister Arun Jaitley said. Jaitley held meetings with Cabinet colleagues and other government officials over the past two days to devise a plan to lift economic growth, which slipped to a three-year low of 5.7% in the quarter to end-June.
07:16 Volcan Investments, the family trust of the chairman of diversified miner Vedanta, said it was increasing its stake in Anglo American but did not intend to make a bid for the entire company. The trust said it was increasing its stake by acquiring shares worth between 1.25 billion and 1.5 billion pounds, in addition to the 2 billion pounds spent in March on acquiring a 12.43% holding.
07:14 Russia’s air force has killed about 850 militants in Syria’s zone of de-escalation in Idlib in the last 24 hours, Russia’s Defence Ministry said.
07:13 The face of salt-to-software conglomerate Tata Group will change in the next 10 years as it moves forward with adopting new technologies and responds to the needs of a fast-growing nation, former Chairman Ratan Tata said. Hinting at consolidation and possible divestments of certain businesses which once defined the group, Tata said the conglomerate may look very different in the next decade, although the 150-year-old group will always strive to retain its culture.
07:09 Reliance Industries, operator of the world’s largest refining complex, is considering expanding its oil processing capacity by over 40% by 2030, reports Reuters. The company may expand capacity at its dual refinery complex in Jamnagar in Gujarat by 30 million tonne a year to 100 mtpa.
07:02 The US Federal Reserve left interest rates unchanged on Wednesday but signalled it still expects one more increase by the end of the year despite a recent bout of low inflation, reports Reuters. The central bank said it would begin in October to reduce its approximately USD 4.2 trillion in holdings of US Treasury bonds and mortgage-backed securities acquired in the years after the 2008 financial crisis.
06:56 Good Morning Moneycontrol users. This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.
The Iraqi army on Thursday launched an offensive to drive Islamic State from the town of Hawija, one of the group’s few remaining strongholds in the country and a hub it uses to threaten the oil-rich city Kirkuk and Iraq’s semiautonomous Kurdish region, Wall Street Journal reported.
India and Canada are close to "firming up" the dates of Prime Minister Justin Trudeau's visit to New Delhi, Canadian High Commissioner Nadir Patel said today.
Condemning terrorism in all its forms and manifestations, External Affairs Minister Sushma Swaraj has told her counterparts from the Shanghai Cooperation Organisation that there can be no justification for any acts of terrorism.
Nineteen patients died after taking a liver disease drug from Intercept Pharmaceuticals Inc., a higher total than the company had previously given, according to report by Bloomberg based on a safety announcement by the US Food and Drug Administration.
The NCP today announced it will fight the Nanded civic polls solo, even as it asserted it will beat the Congress in the upcoming elections.
Indian spinner Kuldeep Yadav today became the third Indian player to get a hat-trick in one day internationals after Chetan Sharma and Kapil Dev.
China is mulling a year-round ban on fireworks in Beijing in a bid to combat heavy air pollution and casualties caused by crackers during festivals.
A draft amendment on Beijing municipal fireworks safety and management regulations was today rendered to the Standing Committee of the Beijing Municipal People’s Congress (BMPC) for deliberation.
US President Donald Trump and South Korean President Moon Jae-in will hold talks on North Korea's nuclear crisis on Thursday amid tensions over whether Trump's harsh rhetoric against North Korean leader Kim Jong Un could lead to a miscalculation, Reuters reported.
South Korean President Moon Jae-In said today he did not seek North Korea's collapse, using an address to the United Nations to urge a scaling down of tensions in the Korean Peninsula.
Aam Aadmi Party (AAP) convener and Delhi chief minister Arvind Kejriwal met actor Kamal Haasan today in Chennai and urged him to enter politics.
Reliance Jio has approached Telecom Secretary Aruna Sundararajan for cancellation of the mobile tender for the North-East awarded to Bharti Airtel, alleging that it limits project deployment to only 2G services.
Aviation regulator DGCA has granted aerodrome licence to the Shirdi airport in Maharashtra, paving the way for much-awaited flight operations from the temple town.
Tamil Nadu government today informed the Madras High Court that the seventh pay commission recommendations would be implemented in another four to five months.
A group of ministers, headed by Finance Minister Arun Jaitley, today discussed in details the modalities for the strategic disinvestment of Air India, official sources said.
Banned currency notes worth Rs 2.46 crore were seized from Perinthalmanna in the district today and six persons arrested in this connection, police told PTI.
Russian Energy Minister Alexander Novak today said OPEC and non-OPEC countries would discuss a monitoring procedure for oil exports at a meeting in Vienna.Ministers from the Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers are scheduled to meet in Vienna on Friday and are due to consider extending output cuts that began in January, Reuters reported.
President Donald Trump said on Thursday the United States would be adding more sanctions on North Korea, Reuters reported.
BJP MLA Pankaj Singh today pitched for the formation of a municipal corporation in Noida to manage its civic affairs.
The after-effects of the demonetisation exercise and the GST implementation will continue even into the next financial year, the Organisation forfor Economic Co-operation and Development has said, while cutting India’s growth forecast for fiscal 2018-19 by halfa percentage point.
Following two separate incidents at Delhi and Mangalore airports involving suspicious power banks this week, the aviation security regulator has now written to NIA and Intelligence Bureau to carry out an investigation.
According to a report by ANI, hours after the Calcutta High Court lifted the restrictions on Durga idol immersion imposed by West Bengal government this year, Chief Minister Mamata Banerjee today said, “I will do what I can to keep peace. Someone can slit my throat but no one can tell me what to do.”
The number of Americans filing for unemployment benefits unexpectedly fell last week, Reuters reported, but the data continued to be influenced by Hurricanes Harvey and Irma, muddying the labor market picture in the near term.
The Centre has directed states to submit strategies for tackling health challenges posed by climate change and extreme weather conditions in their respective regions as part of a comprehensive national-level strategy which is in the works.
The Centre has directed states to submit strategies for tackling health challenges posed by climate change and extreme weather conditions in their respective regions as part of a comprehensive national-level strategy which is in the works.
The CPI today said the politicalsituation in Tamil Nadu was turning "from bad to worse" and blamed the BJP for the recent developments in the state.
State-run Power Finance Corporation has received shareholders' approval to raise up to Rs 65,000 crore through issuance of securities on private placement basis.
Indian oil PSUs are mulling to acquire up to 20 percent stake in an oil field belonging to Abu Dhabi National Oil Company (ADNOC) in UAE, Utpal Bora, CMD of Oil India Limited said today.
The UIDAI has slapped notices on Bharti Airtel and Airtel Payments Bank over its retailers allegedly opening payments bank accounts without taking "informed consent" of customers who go for Aadhaar-based mobile SIM verification.
Mining billionaire Anil Agarwal plans to purchase up to 1.5 billion pounds worth of additional stake in blue-chip British miner Anglo American Plc to become its largest shareholder with over 21 percent holding, his family trust said.
Prime Minister Narendra Modi will begin a two-day visit to his Varanasi Lok Sabha constituency tomorrow, during which he will inaugurate several infrastructure projects and address public meetings, officials told PTI today.
Karnataka Chief Minister Siddaramaiah today said his government was opposed to the formation of the Cauvery Management Board and that the lawyers representing the state had been asked to put forward this position very strongly in the Supreme Court.
Industry body Assocham today urged the Uttar Pradesh government to prepare three special economic zones (SEZs) for solar energy development and try to encourage private players in the field.
Odisha is likely to receive rainfall in next 24 hours as yesterday's low pressure took the form of a well marked low pressure area over northern
parts of central Madya Pradesh and neighbourhood.
The government is considering a plan to loosen the fiscal deficit target so that it could spend an additional Rs 50,000 crore in the financial year ending in March 2018, two government sources told Reuters on Thursday.
West Bengal Chief Minister Mamata Banerjee got her decision overruled today when the Calcutta High Court struck down a state circular that barred immersion of Durga idols post 10 pm on September 30.
Chief of BJP's Scheduled Caste Cell, Vinod Sonkar, today said there should be a national debate on the issue of reservation in promotions in government jobs.
Congress president Sonia Gandhi has written to Prime Minister Narendra Modi, urging him to get the women's reservation bill passed in the Lok Sabha by taking advantage of the BJP's majority in the House.
Private sector lender Bandhan Bank today said it is planning to come out with initial public offer (IPO) in the early part of the next fiscal.
Consumer sentiment during the ongoing festive season remains muted and there is unlikely to be a major surge in festival buying this year, says a LocalCircles report. While around 52% of the 7,659 citizens polled said their spending may be limited to Rs 10,000 during the festive season, 28% said they will not be spending anything, the survey conducted by citizen engagement platform stated.However, the survey noted that 19% respondents will be making a reasonable spending of Rs 10,000 to Rs 30,000. "These 19% of the middle class is what the retailers and manufacturers are expecting will give a boost tobuying during the festive season," it added.
Maharashtra Congress strongman Narayan Rane has quit the party. He is believed to be joining the Bharatiya Janata Party.
Delhi Chief Minister and AAP leader Arvind Kejriwal visited Tamil actor Kamal Haasan in Chennai today. The two earlier had a lunch meeting for close to an hour. The meeting created a flutter in the political world as Haasan has announced his decision to join politics. Addressing mediapersons, Haasan said entering into the political fray has been a learning curve for him. “I have sought advice from Arvind Kejriwal before my political plunge.”
When asked about his reasons for meeting Haasan, Kejriwal said he met the actor as he felt strongly about the communal forces that are plaguing the nation nowadays.
Haasan has been politically very active of late, often times levying corruption charges against the AIADMK government in Tamil Nadu. He had congratulated the CPI(M)-led LDF government in Kerala for "good governance" on its first anniversary in May this year. He fuelled speculation about his expected political plunge when he attended an event organised by the DMK party in Chennai last month. Haasan had been opposing the ruling AIADMK in Tamil Nadu, whose political adversary DMK has voiced support for him.
Standard & Poor's has slashed China's credit rating, warning that a prolonged period of debt growth had raised "economic and financial risks", reports AFP. The New York based entity, which downgraded China's debt from AA-minus to A-plus, is the second major credit ratings agency to slash the Asian giant's rating after Moody's made the same decision in May. "The downgrade reflects our assessment that a prolonged period of strong credit growth has increased China's economic and financial risks," it said.
SBI Life Insurance Company's Rs 8,400 crore initial public offer has been subscribed 37% on Day 2. The IPO has received bids for 3.26 crore equity shares against an issue size of 8.8 crore shares, excluding the anchor investors' portion.
The Mamata Banerjee-led West Bengal government received a huge setback on Thursday as the Calcutta High Court struck down the state’s circular banning immersion of Durga idol post 10 pm on September 30 in view of Muharram. The court has now ruled that immersion can take place on all days and at night, including Muharram, which falls on October 1. It has asked the West Bengal government to ensure different immersion routes for both communities.
Central government employees will not get a daily allowance on Leave Travel Concession (LTC), according to an official order. The LTC allows the grant of leave and ticket reimbursement to employees who are entitled under the rules to travel to their home towns and other places, reports PTI. Employees were earlier entitled to an allowance which varied with their ranks. Any incidental expenses and the expenditure incurred on local journeys shall not be admissible under LTC, said an order issued by the Department of Personnel and Training (DoPT) on Wednesday.
Cadila Healthcare's US arm, Zydus Pharmaceuticals USA, is recalling 44,800 bottles of antidepressant Paroxetine tablets from the American market, the US health regulator said. In its latest Enforcement Report, United States Food and Drug Administration (USFDA) has said Zydus Pharmaceuticals USA is recalling the Paroxetine tablets in the strength of 30 mg, manufactured by Cadila Healthcare. The reason for recall is presence of foreign tablets. "Risperidone tablets were found in bottle of paroxetine tablets", the report said.
Britain unexpectedly posted its smallest budget deficit for any August since 2007, helped by record sales tax revenues for the month in a boost for Finance Minister Philip Hammond, reports Reuters. The deficit in August stood at GBP 5.7 billion, down 18% compared with the same month last year, the Office for National Statistics said on Thursday, citing figures that exclude state-controlled banks. August’s surprisingly strong performance followed an unexpected budget surplus in July, a boon for Hammond who is under pressure to relax his grip on spending when he announces budget plans in November.
Akshara Haasan received Delhi Chief Minister and AAP co-founder Arvind Kejriwal at Chennai Airport, reports ANI. Kejriwal has arrived at Kamal Haasan's residence. The move assumes significance as the politically-active actor and filmmaker has hinted that he may join or launch a political party, but not in haste.
Given the lack of considerable space both on the monetary and fiscal front to support economic growth, part of the country's forex reserves can be used to support GDP numbers, says a Deutsche Bank report. Forex reserves could be used for funding growth-critical public infrastructure projects and the macro backdrop is also suitable for this, it stated. "If USD 15 billion worth of forex reserves were channelled toward public investment in infrastructure, this would reduce total reserves by only 3.5% but would add about 0.6% to GDP, which could help to support growth in the near term," the global financial services major said.
Maharashtra Navnirman Sena Chief Raj Thackeray claimed that the BJP government was in talks with gangster Dawood Ibrahim to get him to India in a bid to rake electoral dividends before the 2019 parliamentary polls, reports CNN-News18. “Dawood wants to come back to India, he is involved in talks with the Centre to come to India, he himself wants to come back to India as he is handicapped and wants to spend his last days in India. While Dawood wants to come back on his own, the BJP will use it by getting him back before the elections to get votes,” the MNS Chief claimed.
