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Joint venture partner is exploring stake in Max Healthcare

Life Healthcare Group Holdings Ltd Has Initiated Preliminary Discussions With Max India, Company‘s Joint Venture Partner In Max Healthcare Institute 

Talks Explore Possibility Of Max India Acquiring Life Healthcare‘S Equity Interest In Max Healthcare Institute Limited


Board approves amalgamation of Co with IDFC Bank Ltd

National Housing Bank has intimated that it has no objection for the amalgamation


Board approves purchase of entire shareholding held by Usha International

To pay a consideration of Rs 24.83cr which will be paid over 12 months


In Pact with Eros India to Set-Up $150 Mn Fund to consolidate content

RIL, Through Unit, agreed to subscribe to 5% stake in NYSE Listed Eros

RIL, Co agreed to partner in india to jointly produce, consolidate content

Jyoti Deshpande to head RIL's Media & Entertainment Business


    33,844.86 141.27   (0.42 %)

    10,397.45 37.05   (0.36 %)
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Exclusive - Aiming For $300 Bn By 2025: Chemicals Secy

News In Brief


    Glencore, banks and Chad reach deal on over $1 billion oil-backed loan

    London: Glencore and four bank lenders have reached a deal with Chad on the restructuring of an over $1 billion oil-backed loan, sources familiar with the matter said. 

    Glencore backed by banks lent the west African country’s state oil firm SHT about $1.45 billion in 2014 to be repaid with crude oil cargoes. The country secured credit from the International Monetary Fund last year but the release of most of these funds depended on a second restructuring of this debt. The country secured credit from the International Monetary Fund last year but the release of most of these funds depended on a second restructuring of this debt.


    US-led air strike in Somalia kills three al Shabaab militants: Statement

    Washington: A U.S.-led air strike against al Shabaab militants in Somalia on Monday killed three members of the al Qaeda-linked Islamist insurgency group, the U.S. military said in a statement on Wednesday. 

    The strike near the town of Jilib, about 230 miles (370 km)southwest of Mogadishu, was coordinated with Somalia’s government, the U.S. Africa Command said in the statement, adding that no civilians were killed in the operation.


    CEO expects Boeing to generate 15 percent of 2018 profit in first quarter

    New York: Boeing Co (BA.N) will generate about 15 percent of its earnings per share and about 10 percent of its cash for the full year during the first quarter of 2018, Boeing Chief Executive Dennis Muilenburg said on Wednesday.

    Boeing said last month that it expects to earn adjusted profit of $13.80 to $14.00 per share for all of 2018, and operating cash flow of $15 billion. Muilenburg spoke at an investor conference in Miami organized by Citigroup.


    Germany's SPD to support Weidmann candidacy as ECB chief: Die Zeit

    Berlin: Germany’s centre-left Social Democrats will back a decision by Chancellor Angela Merkel’s conservatives to support a candidacy of fiscally hawkish Bundesbank chief Jens Weidmann as European Central Bank chief, Die Zeit weekly reported on Wednesday. 

    The newspaper cited government sources as saying that Merkel got the Social Democrats’ go-ahead for a Weidmann candidacy during coalition talks earlier this month. A spokesman for the SPD was not immediately available to comment.


    Wall Street opens higher as tech stocks rise

    New York: Wall Street’s main indexes opened higher on Wednesday, led by gains in technology and consumer discretionary stocks and ahead of the release of minutes of the Federal Reserve’s recent policy meeting. 

    The Dow Jones Industrial Average .DJI rose 36.99 points, or 0.15 percent, to 25,001.74. The S&P 500 .SPX gained 6.61 points, or 0.243349 percent, to 2,722.87. The Nasdaq Composite .IXIC added 31.84 points, or 0.44 percent, to 7,266.15.


    More pro-government forces arrive in Syria's Afrin: SANA

    Beirut: A new batch of pro-Damascus forces arrived in Syria’s Afrin region on Wednesday to help Kurdish fighters repel a Turkish offensive there, Syrian state news agency SANA said.

    “New groups of popular forces arriving in Afrin to support the people in confronting ... the continued aggression of the Turkish regime,” it said. Turkey warned on Wednesday that militia fighters, allied to the Syrian government, would face “serious consequences” for going into Afrin to support the Syrian Kurdish YPG militia.


    SAP hikes dividend payout to at least 40 percent of profit

    Frankfurt: German business software maker SAP said on Wednesday it had hiked its dividend payout ratio and proposed a 12 percent hike in its annual payout for 2017. 

    Europe’s biggest technology company said it would now pay shareholders at least 40 percent of its annual profits, up from 35 percent. It said it would pay a dividend of 1.40 euros per share for 2017, up 12 percent from a year earlier.


    Brazil's Meirelles says not planning presidential bid: Radio

    Brasilia: Finance Minister Henrique Meirelles said on Wednesday that he is focussed on Brazil’s economic recovery and not thinking at this time of running for president in the October election, though he might consider a bid in April.

    In an interview with Radio Bandeirantes, Meirelles said pension reform was not “dead and buried” but would not be taken up in Congress during the federal intervention in Rio de Janeiro state which has been authorized through 2018. Meirelles also said taxes will have to be raised in the future if the costly social security system is not overhauled.


    Red Cross seeks access to Syria's Ghouta, but fears worse to come

    Geneva: The International Committee of the Red Cross (ICRC) called on Wednesday for humanitarian access to Syria’s eastern Ghouta to deliver aid, especially to wounded in critical need of treatment in the rebel-held enclave near Damascus.

    “We call on all those fighting to show restraint and respect for international humanitarian law when using their weapons. We expect that the situation will get far worse,” ICRC spokeswoman Iolanda Jaquemet told Reuters in Geneva in response to a query.


    WDM witnesses trade worth Rs 1227.95 cr on NSE

    Mumbai: Wholesale debt market segment of the National Stock Exchange today witnessed a total turnover of Rs 1227.95 crore in 48 trades.

    Top securities (nn-repo) traded at the WDM were: The 7.17 per cent Government security maturing in CG2028 traded value of Rs 155.00 crore at weighted yield of 7.67 per cent and the 7.73 per cent Government security maturing in CG2034 traded value of Rs 75.00 crore at weighted yield of 7.94 per cent, an NSE release said.


    Two killed, 11 injured, by bomb in Myanmar city of Lashio: Police

    Yangon: A bomb explosion on Wednesday in Myanmar’s northeastern city of Lashio killed two bank workers and injured 11 people, the government said.

    Police said they were investigating but had no word on possible suspects.  “It’s true. We just received a (local) police report about the bomb blast in Lashio this evening,” police spokesman Colonel Thet Naing based in Myanmar’s capital Naypyitaw told Reuters by phone.


    Broadcom cuts Qualcomm bid by $3 per share

    Bengaluru: Broadcom Corp has lowered its takeover offer for chipmaker Qualcomm Inc to $79 per share from $82 to account for the latter’s increased offer for NXP Semiconductors NV, Broadcom said on Wednesday. 

    The new offer consists of $57 per share in cash and $22 per share in Broadcom shares, premised on Qualcomm’s revised agreement on Tuesday to buy NXP at $127.50 per share.  The older offer comprised of $60 per share in cash and $22 per share in stock.


    US dollar ends cheaper against rupee

    Mumbai: The US dollar ended cheaper against the rupee at 64.76/77 per unit and the pound sterling also finished lower at Rs 90.15/17 per pound at the close of the Interbank Foreign Exchange (forex) market here today.

    Following are the Interbank forex and RBI rates: (In Rs per unit) Unit Interbank RBI Reference US Dollar 64.76/77 US Dollar Rs 64.8161 Pound Sterling 90.15/17 Euro Rs 79.9442 Euro 79.78/80 Japanese Yen (100) 60.28/30.


    Pakistan Supreme Court rules ousted PM Nawaz Sharif cannot lead his party

    Islamabad: Pakistan’s Supreme Court ordered on Wednesday that ousted Prime Minister Nawaz Sharif be removed as head of the political party he founded, six months after the court removed him as premier. 

    The order overturns a change in the law by Sharif’s ruling Pakistan Muslim League-Nawaz that allowed the former premier to lead the party despite being legally banned from holding public office. “The Election Commission is directed to remove name of Nawaz Sharif as president of PML-N from all official records,” Chief Justice Saqib Nisar said from the bench.


    Trade unions at Volkswagen's Skoda reject latest wage offer

    Prague: Trade unions at Volkswagen’s Czech carmaker Skoda Auto rejected the company’s latest wage increase offer, the unions said in a statement on Wednesday.

    Czech media have reported Skoda offered its workers a 15 percent pay hike over the next 27 months in the latest round of talks.


    Deutsche Boerse to present roadmap in May after strategy review

    Frankfurt: Deutsche Boerse is reviewing its strategy and costs, and it plans to announce a “revised roadmap” in May, the German stock exchange operator’s new chief executive said on Wednesday. 

    “I see a whole range of opportunities for us to grow,” CEO Theodor Weimer said. He pointed to hopes of drawing euro clearing business from London after Britain leaves the European Union, opportunities for its data business, and possible acquisitions. “Acquisition-driven growth is a staple of our sector,” he said. “Because the stock exchange business is a scale business. Size is vital for our success.”


    SimplyBiz eyes 150 mn pound London IPO: Source

    London: British company SimplyBiz is joining a queue of financial services firms preparing for flotations on the London stock market with plans for a listing that could value the group at more than 150 million pounds.

    Huddersfield-based SimplyBiz is working with stockbroker Zeus Capital on a possible initial public offering (IPO), according to a person familiar with the matter. The group is targeting a market capitalisation of between 140 million pounds and 155 million pounds in a listing that would raise 30 million pounds of new money, the person said.


    Kremlin says Russian defense sector 'fine', accuses US of unfair competition

    Moscow: The Kremlin said on Wednesday that “everything is fine” in the Russian defense sector, responding to an assertion by the U.S. State Department that sanctions had cost Russia $3 billion in lost defense contracts.

    “I can just say that everything is fine, everything is fine,” Kremlin spokesman Dmitry Peskov said in a phone call with reporters on Wednesday. Peskov said Russia was “trying to hedge risks related to instances of unfair competition on the part of the United States in the market of military-technical cooperation.”


    Intel plans $5 bln investment in Israel by 2020: Minister

    Jerusalem: Chipmaker Intel Corp (INTC.O) plans to invest $5 billion to expand production at its Kiryat Gat plant in Israel in the next three years, Israeli Economy Minister Eli Cohen said on Wednesday.

    Cohen and other ministry officials earlier in the day met with Intel executives. A spokesman for Intel in Israel declined to comment.



    RBI panel warns on inflation, to monitor growth

    Mumbai: Minutes from a Reserve Bank of India (RBI) meeting on Feb. 6-7 showed monetary policy committee (MPC) members expressed concern about accelerating inflation, although that was tempered by uncertainty about the strength of an economic recovery. 

    At the meeting, the MPC voted 5-1 to keep the policy rate on hold at 6.0 percent and to retain a “neutral” monetary policy stance. RBI Executive Director Michael Patra was the sole member to vote for a 25 bps increase.


    Britain still wants Brexit implementation phase of around two years: Source

    London: Britain still wants an implementation phase with the European Union of around two years, a government source said on Wednesday, saying there was no change in the government’s Brexit policy. 

    The EU has said it wants the transition phase after Brexit to end no later than Dec. 31, 2020, which would coincide with the end of the EU’s current seven-year budget period. “The EU wants a transition of 21 months, we want a period of around 24 months,” the source said, adding that Prime Minister Theresa May has previously ruled out the implementation phase dragging on beyond the around two-year period.


    Former cyclone Gita traverses NZ, batters South Island

    At least 5,000 people in New Zealand’s South Island were cut off by massive landslips and hundreds of tourists stranded on Wednesday after former cyclone Gita whipped through the country, sparking a state of emergency in several southern towns.

    Torrential rains from Gita, which was downgraded on Tuesday from a tropical cyclone to storm, lashed the center of New Zealand, causing floods in the city of Christchurch and other provinces.


    Thai junta says 'not concerned' about ousted PM Thaksin's Asia tour

    Bangkok: Thailand is not concerned about the movement of fugitive former Prime Minister Thaksin Shinawatra and his sister, also an ousted former leader, after recent visits by the pair to several Asian cities and meetings with members of their party.

    A spokesman for the junta, known as the National Council for Peace and Order, said it was not focused on the two Shinawatras. “Monitoring those who have an arrest warrant is the job of relevant agencies. We are not concerned about this,” the spokesman, Piyapong Klinpan, told Reuters.


    Dish Network profit surges on U.S. tax law boost

    Bengaluru: Dish Network Corp reported a jump in fourth-quarter profit on Wednesday due to a benefit of about $1.2 billion related to changes in U.S. tax laws. 

    Net income attributable to Dish rose to $1.39 billion, or $2.64 per share, in the quarter ended Dec. 31 from $355 million, or 73 cents per share, a year earlier.  The U.S. satellite and internet TV provider said revenue fell to $3.48 billion from $3.75 billion.


    RBI sets rupee reference rate at 64.8161 against US dollar

    Mumbai: The Reserve Bank of India today fixed the reference rate of the rupee at 64.8161 against the US dollar and 79.9442 for the euro.

    The corresponding rates were 64.5254 and 79.8566, as on Yesterday. The according to an RBI statement, the exchange rates for the pound and the yen against the rupee were 90.6583 and 60.17 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon. The SDR-rupee figure will be based on this rate, the statement added.


    South Africa's parliament to launch inquiry into mines minister Zwane

    Johannesburg: South Africa’s parliament will launch an investigation into allegations of influence-peddling against mines minister Mosebenzi Zwane, its oversight committee on mineral resources department said on Wednesday.

    The committee did not give specific reasons on why it wanted to open an investigation into Zwane, who it had interviewed last October. Zwane has previously denied any wrongdoing.


    Entrance of Syrian forces into Afrin to have serious consequences: Erdogan spokesman

    Ankara: Pro-Syrian government forces which tried to enter the Afrin region on Tuesday retreated after artillery fire by Turkish forces fighting a Kurdish militia there, Turkish President Tayyip Erdogan’s spokesman said on Wednesday.

    Ibrahim Kalin told a news conference there will be serious consequences if there are further such attempts to enter Afrin, where Turkey last month launched an operation against the Kurdish YPG militia which Ankara says is a terrorist group.


    Merck to buy Viralytics for $394 million to boost immuno-oncology

    U.S. drugmaker Merck & Co (MRK.N), already one of the leaders in the hot area of cancer immunotherapy, said on Wednesday it had agreed to buy Viralytics (VLA.AX) for 502 million Australian dollars ($394 million) to expand its drug pipeline.

    Merck will pay 1.75 Australian dollars per share for the Sydney-based biotech company, which uses viruses to infect and kill cancer cells. That represents a premium of 160 percent to the average stock price over the past month.


    'Nothing to worry' says Army chief on Doklam

    New Delhi: The situation in Doklam is fine and there is no reason to worry, Army chief Bipin Rawat said here today.

    Troops of India and China were locked in a 73-day standoff in Doklam near Sikkim last year after the Indian side stopped the building of a road by the Chinese Army in the disputed tri-junction. "There is nothing to worry," the army chief told reporters when asked about the situation in Doklam. He added that the situation was fine.


    Volkswagen, German union IG Metall reach wage agreement

    Frankfurt: Carmaker Volkswagen and labour union IG Metall reached a wage agreement for more than 120,000 workers in Germany in a fourth round of talks, the union said on Wednesday. 

    IG Metall did not provide details of the agreement but has called a news conference at 10 a.m. local time (0900 GMT). The union had threatened earlier this month to cripple vehicle production at Volkswagen, incensed by an offer from management to raise pay for staff at western German plants by no more than 2.2 percent over 12 months, about a third of the 6 percent it was seeking.


    US home appliance shipments down 0.5 percent year-on-year in January

    Stockholm: Deliveries of the six biggest categories of white goods (AHAM 6) in the United States dropped 0.5 percent year-on-year in January, data from industry body Association of Home Appliance Manufacturers (AHAM) showed late on Tuesday. 

    The country is a major market for companies such as Whirlpool (WHR.N) and Swedish home appliances maker Electrolux (ELUXb.ST).


    Miner Hochschild expects production to double this year

    Hochschild Mining Plc expects production to double this year as it ramps up output at Pablo vein at its Pallancata mine in Peru, the precious metals miner said on Wednesday.

    The company, which also operates in Chile and Argentina, said it expected attributable production to rise to 514,000 gold-equivalent ounces this year from 255,000 gold equivalent ounces in 2017. However, Hochschild’s core earnings fell 8.6 percent to $300.8 million last year, hurt by higher costs and continued spending on brownfield exploration projects.


    No change in foodgrain prices

    Chennai: Prices of all commodities remained unchanged in the wholesale foodgrain market here today.

    Following are the wholesale rates of various agri-commodities (rates in rupees per quintal, unless stated otherwise):Thoor Dal Rs 7,200, Urad Dal Rs 6,700, Moong Dal Rs 7,300, Gram Dal Rs 5,200, Sugar Rs 3,600, Wheat Rs 2,600, Maida (90 kg) Rs 2,400 and Sooji (90 kg) Rs 3,000. 


    Japan top FX diplomat says yen rises "one-sided": Nikkei

    Tokyo: Japan’s top currency diplomat has issued a fresh warning to markets against pushing up the yen too much, the Nikkei newspaper reported on Wednesday. 

    “I cannot help but assess the (yen) movements as one-sided,” Masatsugu Asakawa, vice finance minister for international affairs, was quoted as saying in an interview conducted on Tuesday.



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