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Snapdeal sale: 60k Maggi kits sell out in 5 minutes

Snapdeal sale: 60k Maggi kits sell out in 5 minutes - If

Maggi instant noodles stocks with retailers in select markets were sold out within hours of their relaunch earlier this week. A flash sale on Thursday on Snapdeal went out of stock in five minutes, selling 60,000 Maggi WelcomeKits to as many customers. The rush to relaunch Maggi has strained Nestle India’s employees working on the […]

Wall St dips as jobs report augurs for September rate hike

Wall Street slips to end rough week on macro, earnings

US stocks ended lower on Friday after solid job growth data for July pried the door open a little wider for a potential interest rate hike by the Federal Reserve in September. Wall Street took the latest signs of an improving economy as a fresh reason to sell shares in a market that has remained […]

Solid US jobs report bolsters case for Fed rate hike

Solid US jobs report bolsters case for Fed rate hike

US employment rose at a solid clip in July and wages rebounded after a surprise stall in the prior month, signs of an improving economy that opened the door wider to a Federal Reserve interest rate increase in September. Nonfarm payrolls increased 215,000 last month as a pickup in construction and manufacturing jobs offset further […]

China’s July exports slump 8%, pressure for more stimulus

China's July exports slump 8%, pressure for more stimulus

Chinese exports tumbled 8.3 percent in July, their biggest drop in four months and far worse than expected, reinforcing expectations that Beijing will be forced to roll out more stimulus to support the world’s second-largest economy. Imports also fell heavily from a year earlier, in line with market forecasts but suggesting domestic demand might be […]

Govt capital infusion in PSBs credit positive: Moody’s

Govt capital infusion in PSBs credit positive: Moody's

Government’s decision to infuse Rs 70,000 crore in PSU banks is a credit positive but “not a game changer” as the amount is relatively small and they will have to access capital from markets to meet their needs, Moody’s said on Thursday. In the recent times the PSU banks have not been able to access […]

India’s 2015-16 gold imports seen at 900-1000 tn: Refiner

India's 2015-16 gold imports seen at 900-1000 tn: Refiner

The value of India’s gold imports could plunge over 18 percent to USD 28 billion this fiscal year due to lower prices and despite likely higher volumes, the head of the country’s biggest gold refiner said, helping to narrow the trade deficit. Gold is India’s second-biggest expense on the import bill after oil, and purchases […]

RBI to facilitate oil payments of $6.5 bn to Iran

RBI to facilitate oil payments of $6.5 bn to Iran - If and What

The Reserve Bank of India (RBI) will assist Indian refiners to clear over USD 6.5 billion of past dues they owe to Iran for crude oil purchases, a senior official said on Wednesday. RBI agreed to helping create payment channels to clear the past dues when Finance Secretary Rajiv Mehrishi-led a four member delegation to […]

Sensex, Nifty trim losses; rupee recover, Tata Motors fall

Sensex, Nifty trim losses; rupee recover, Tata Motors fall

  India’s coal imports fell 11 percent to 19.3 million tonnes in July from a year earlier the sharpest and the first drop in more than a year as local supplies rose and money losing power generators held up purchases, commodities trader mjunction said. Prime Minister Narendra Modi has been credited with the turnaround in […]

German car makers to buy Nokia map service for 2.8 bn euros

German car makers to buy Nokia map service for 2.8 bn euro

German car makers BMW, Audi and Mercedes-Benz have teamed up to buy digital mapping service HERE for 2.8 billion euros (USD 3.1 billion) from Nokia, the Finnish telecoms group said on Monday. The sale “should be concluded in the first quarter of 2016,” Nokia said in a statement, adding that it expected net proceeds from […]

China July factory growth unexpectedly stalls: PMI survey

China July factory growth unexpectedly stalls: PMI survey

Growth at China’s big manufacturing companies unexpectedly stalled in July as demand at home and abroad weakened, an official survey showed on Saturday, reinforcing views that the economy needs more stimulus as it faces fresh risks from a stock market slump. The official Purchasing Managers’ Index (PMI) stood at 50.0 in July, compared to the […]

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