US markets closed higher snapping 5-day slump

The US markets closed higher on Tuesday, snapping a five-day losing streak in the main US indexes. Investors brushed off softer economic reports, while focusing on the two-day Federal Reserve meeting, which kicked off on Tuesday and concludes on Wednesday with a policy statement. The expectations for a September hike have faded recently, partly because

Lupin acquires specialty portfolio from German company

Pharma Major Lupin has entered into a strategic asset purchase agreement with Temmler Pharma Gmbh & CO. KG (Temmler), a part of the Aenova Group, one of the world’s largest pharmaceutical contract manufacturers, to acquire Temmler’s specialty product portfolio subject to certain closing conditions. Based in Marburg (Germany), Temmler has a fast growing specialty portfolio

US markets extend southward journey for fourth straight session

Extending their southward journey for fourth straight session, US Markets ended the Friday’s session with a cut of around a percentage point. Sentiments remained downbeat with report from the Commerce Department showing new home sales unexpectedly fell to their lowest level in seven months in June. The new home sales tumbled 6.8 percent to an

Crude oil price of Indian basket falls 0.7% to USD 56.01 bbl

The International crude oil price of Indian Basket declined 0.70% to USD 55.62 a barrel (bbl) on Jul. 8, 2015 as against USD 56.01 a bbl on Jul. 7, 2015. In rupee terms, the price of Indian Basket decreased to Rs 3,535.76 a bbl on Jul. 8, 2015 as compared to Rs 3,549.35 a bbl

Greece to submit concrete proposals to European Union: Alexis Tsipras

Clash between the Greece government and European Union leaders came to an end after the Greece Prime Minister Alexis Tsipras said on Wednesday his government will submit concrete proposals to secure bailout from European Union in the next 2 to 3 days. He said his government has sent a crystal clear message. Earlier on Tuesday,

US says only 60 Syrians being trained to fight IS

WASHINGTON: Only about 60 Syrian rebels are being trained by the United States to take on the Islamic State group, Defense Secretary Ashton Carter said today, admitting it was far below the number hoped for. The disclosure is likely to add to criticism of the Obama administration’s military strategy, with US Senator John McCain saying

Rupee ends marginally higher by 3 paise

In restricted trading, the rupee ended marginally higher by three paise to 63.61 against the American currency on mild selling of dollars by banks and exporters on hopes of foreign capital inflows into equity in view of strong equity market. The rupee opened lower at 63.66 per dollar at the Interbank Foreign Exchange (forex) as

Indian economy resilient but no room for complacency: RBI

The Reserve Bank of India (RBI) Thursday released the Financial Stability Report (FSR) June 2015, the eleventh issue of its half yearly publication. The FSR reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability, as also the resilience of the financial system. Besides, the

Sensex rebounds 57 pts in late morning trade

The benchmark BSE Sensex rebounded by 57 points in late morning trade on fresh buying in capital goods, healthcare, refinery, power and auto stocks. Key benchmark indices had edged lower in early trade due to sustained selling in consumer durable, IT, FMCG, teck and banking shares amid tracking weakness in Asian markets and overnight slide

Saudi Arabia loses spot as top crude supplier to India

Saudi Arabia lost its spot last month as India’s top oil supplier to Nigeria for the first time in at least four years, according to ship tracking data compiled by Reuters, as the world’s top crude exporter struggles to maintain market share in Asia. The OPEC kingpin also fell behind Russia and Angola as the