Economy 83
Sasol expects earnings to collapse 69%
Oil price, softer global margins and Lake Charles project weighs on first-half earnings
Economic Survey highlights: FY20 fiscal deficit target may need relaxation
GDP growth pegged at 6-6.5 per cent in financial year starting April 1, up from 5 per cent in current fisca
Marico slips 6%, hits 52-week low on disappointing December quarter results
In Q3FY20, consolidated revenue from operations declined 2 per cent YoY at Rs 1,824 crore.
SBI Q3 result: Lender logs 41% YoY rise in profit at Rs 5,583 cr; NPAs dip
During the quarter under review, the bank's credit book grew 6.79% YoY to Rs 23.01 trillion, up from Rs 21.55 trillion. The retail loans have jumped 17.49% YoY, while corporate loans slipped 0.48%
When are the Eurozone Preliminary CPIs/ GDP and how could they affect EUR/USD?
Eurostat will publish the first estimate of Eurozone inflation and growth figures for January and Q4 respectively at 1000 GMT today. The headline CPI
GBP/USD keeps the mixed outlook unaltered – UOB
Cable is expected to extend the broader consolidative mood amidst the prevailing mixed outlook, suggested FX Strategists at UOB Group. Key Quotes 24-h
Stock markets fall
Canada's main stock index posted a triple-digit decline in late-morning trading as the heavyweight financial, energy and industrial sectors moved lower.
Economic Survey pegs GDP growth at 6-6.5% in next fiscal
Government must use its strong mandate to deliver expeditiously on reforms, it says
SBI Q3 results: Profit jumps 41% to Rs 5,583 crore; asset quality shows big improvement
Percentage of net NPAs stood at 2.65 per cent compared with 3.95 per cent last year.
Economic Survey 2020 has a clear message for Nirmala Sitharaman
Growth in the current fiscal year would come in at 5 per cent, as per Economic Survey.
SBI posts highest-ever quarterly profit of Rs 5,583 crore in Q3
SBI Q3 results: The bank's gross non-performing assets (NPAs) ratio declined to 6.94 per cent in Q3FY20 versus 8.71 per cent in the same quarter last year
Uptick in retail prices in FY20 mainly on veggies, pulses: Survey
The Economic Survey 2019-20, presented in Parliament by Finance Minister Nirmala Sitharaman stated that inflation has been witnessing moderation since 2014, however, recently there has been an "uptick
Economic Survey 2020 projects GDP growth at 6-6.5% in FY21
The Economic Survey 2020, prepared by Chief Economic Advisor Dr Krishnamurthy Subramanian, was tabled by Union Finance Minister Nirmala Sitharaman in Parliament Friday.
Public Mutual declares distributions of more than RM64m for five funds
KUALA LUMPUR, Jan 31 — Public Mutual, a wholly-owned subsidiary of Public Bank, today declared distributions amounting to more than RM64 million for five funds for the financial year ended January 31, 2020. The gross distributions include 5.0 sen per unit for Public Money Market Fund, 4.25 sen...
Raising funds for infrastructure will be "challenge": Economic Survey
States that well prepared projects might attract investors
GDP growth expected to rebound to 6-6.5 per cent in 2020-21: Economic Survey
The Economic Survey 2019-20 tabled in Parliament said there are tentative signs of bottoming out of slowdown in manufacturing activity and global trade, which will have a positive impact on growth in the next fiscal.
SBI profit jumps 41% to ₹6,797crore in Q3 on lower provisioning
Consolidated income rose to ₹95,384.28 crore in the third quarter from ₹84,390.14 crore in October-December 2018-19, SBI said in a regulatory filing
Funding National Infra Pipeline would be a 'challenge': Economic Survey 2019-20
To achieve GDP of USD 5 trillion by 2024 – 2025, India needs to spend about USD 1.4 trillion (Rs.100 lakh crore) over these years on infrastructure so that lack of infrastructure does not become a constraint to the growth of Indian economy, the survey said.
Unilever sales growth stagnates amid sluggish household consumption
The Anglo-Dutch company booked a 2.7 percent year-on-year (yoy) growth in sales to Rp 42.9 trillion (US$3.15 billion) in 2019, the company said in a statement obtained by The Jakarta Post on Thursday.
Amazon lifts profit in Q4 despite weak international ops, sees mixed Q1
Amazon said revenues for its fourth quarter advanced to USD 87.4 billion from 72.4 billion the year before, including a negative forex effect of USD 120 million, well in line with expectations. Despite a forecast for a lower profit, the operating profit crept up to USD 3.9 billion from 3.8 billion, and the net profit lifted to USD 3.3 billion or USD 6.47 per diluted share, from 3.0 billion and 6.04 per share.
Amazon lifts profit in Q4 despite weak international ops, sees mixed Q1
Amazon said revenues for its fourth quarter advanced to USD 87.4 billion from 72.4 billion the year before, including a negative forex effect of USD 120 million, well in line with expectations. Despite a forecast for a lower profit, the operating profit crept up to USD 3.9 billion from 3.8 billion, and the net profit lifted to USD 3.3 billion or USD 6.47 per diluted share, from 3.0 billion and 6.04 per share.
Economic Survey Projects India's GDP Growth at 6-6.5 Per Cent for 2020-2021
New Delhi (Sputnik): Amid the widespread slowdown in the Indian economy, the government lowered its national income growth forecast for the current fiscal year from April 2019-March 2020 to 5 per cent against the earlier projections of 7 per cent.
Market LIVE: Sensex, Nifty subdued as Economic Survey throws fiscal, economic challenge for government
Around 3.15 PM, S&P BSE Sensex was trading 0.51 per cent or 209 points lower at 40,703.84 while broader Nifty 50 index breached the crucial 12,000-mark and was ruling at 11,955 points
India forecasts faster economic growth, warns of fiscal challenge
The government estimates GDP will grow 5% this fiscal year, which ends on March 31. That would be the slowest growth since the global financial crisis of 2008-09
SBI profit jumps 41 per cent to Rs 6,797 crore in Q3 on lower provisioning
On a standalone basis, SBI's net profit jumped 41.2 per cent to Rs 5,583.36 crore in the third quarter of the current fiscal compared to Rs 3,954.81 crore during the corresponding October-December period in the same period a year ago.
Market Highlights: Sensex slips 190 points, Nifty ends below 12,000 ahead of Budget 2020
Share Market, Stock Market Highlights: Everything that happened in the markets.
HUL reports 12.95% rise in consolidated net profit at Rs 1,631 cr
The company had posted a net profit of Rs 1,444 crore in the October-December period of the previous fiscal
Eco Survey sees growth at 6.5% in FY21, calls for easing of deficit target
For the current fiscal, it projected a GDP growth of 5 per cent, the lowest in 11 years, and worsening job prospects
Eco Survey flags disproportionate dwarfism of banks, calls to be efficient
The Economic Survey 2019-20 tabled in Parliament by Finance Minister Nirmala Sitharaman noted that despite nationalisation a significant portion of the poor remained unbanked till 2014
Economic Survey: Sales of over 1.7k mfg firms contracted by 7.7% in Q2
Net profit for the manufacturing sector contracted in Q1 (June quarter) of 2019-20, mainly due to a production slowdown, it added
Two-day PSU bank strike over wage revision impacts services across country
However, private sector lenders like ICICI Bank and HDFC Bank were operational.
Economic Survey 2019-20: Competition, low tariffs led to financial stress in telecom sector
The data price in the country came down by over 99% during 2016-2019, making it among the lowest tariff in the world, according to the survey.
Highways sector needs Rs 19.63 lakh crore investment by 2024-25: Economic Survey
Of the total Rs 102 lakh crore investment need for infrastructure projected by the National Infrastructure Pipeline (NIP), during 2020 to 2025, the highways sector will require Rs 19.63 lakh crore, the Survey said.
Sales of over 1.7k listed manufacturing firms contracted by 7.7 per cent in Q2: Survey
The Survey, tabled in Parliament on Friday by Finance Minister Nirmala Sitharaman said demand conditions for the manufacturing sector weakened in September quarter of 2019-20 with a contraction in nominal sales, citing RBI studies on corporate performance.
Contraction in domestic revenue growth softened IT-BPM sector growth in FY19: Survey
Of the total $135.5 billion of exports of the IT-BPM sector in 2018-19, IT services accounted for 55%, and BPM and software products & engineering services for the remaining 45 per cent (with each accounting for almost half of the share). The survey termed the Indian IT-BPM industry as the flag-bearer of India's exports over the past two decades.
Shrinking French and Italian economies hamper euro zone growth
Spectre of recession likely to mean more monetary easing by ECB
Dec core sector growth recovers to 1.3% on higher coal, fertiliser output
Production of crude oil, natural gas, and electricity contracted in the month under review
GDP growth for FY19 revised downwards to 6.1% from 6.8% estimated earlier
"Real GDP or GDP at constant (2011-12) prices for the years 2018-19 and 2017-18 stand at Rs 139.81 trillion and Rs 131.75 trillion, respectively
Bold reforms needed to achieve 6-6.5% growth in FY21: Experts, industry
Leader Economic Advisory Services at PwC India Ranen Banerjee said attaining the projected growth rate of 6-6.5 per cent will be challenging
Vedanta profit rises 49% to Rs 2,348 cr in Q3 on the back of lower expenses
In a statement, the company said "attributable PAT (was) at Rs 2,348 crore, up 49 per cent y-o-y (year-on-year)"
SBI profits zooms 41% to ₹5,583 crore in Q3
State Bank of India, on Friday, reported a robust 41 per cent jump in net profit at ₹5,583 crore in the third quarter ended December 31, 2019, along with an improvement in asset quality. The bank sa
Hong Kong-based Digital Asset Exchange Bitfinex Introduces Margin Trading for Tether’s New Gold-backed Stablecoin
Hong Kong-based digital asset exchange Bitfinex has introduced margin trading for Tether gold (XAU₮). Beginning on January 30, 2020, the exchange has confi
Economic Survey 2019-20 Tabled in Parliament, Sees Pick up in Growth
For the current fiscal, it projected a GDP growth of 5 per cent, the lowest in 11 years, and worsening job prospects.
Economic Survey 2020: CEA Subramanian sees fiscal slippage in FY20
Subramanian said the country might have hit the trough in growth and expressed his confidence in achieving 6-6.5 per cent growth in fiscal year 2020-21
Budget 2020: Will govt increase investment limit under Section 80C?
Budget 2020: The limit of deduction available under Section 80C is Rs 1.5 lakh. Taxpayers expect FM Sitharaman to increase the limit to Rs 2.5 lakh
Eco Survey gives positive outlook for steel, oil and gas sectors: Pradhan
The sector achieved a growth of 5.2 per cent during April-November period of the ongoing financial year as compared to 3.6 per cent in the year-ago period, it added
Budget Session 2020 Highlights: GDP growth rate for 2018-19 revised downwards to 6.1 per cent
Parliament Budget Session 2020, Economic Survey 2020 Highlights: The Economic Survey 2019-2020, tabled by Finance Minister Nirmala Sitharaman, projected the economic growth of 6 to 6.5 per cent in the fiscal year starting April 1.
US: Annual core PCE Price Index ticked up to 1.6% in December as expected
Inflation in the United States, as measured by the Personal Consumption Expenditures (PCE) Price Index, rose 0.3% on a monthly basis in December follo
Economic Survey 2020: GDP Growth Projected At 6-6.5 Per Cent In FY21; Growth Resurgence From Second Half Of FY20
The Economic Survey 2019-20 was tabled by Finance Minister Nirmala Sitharaman in the parliament today (31 January). The survey projects the Indian Economy to grow at a rate of 6 to 6.5 per cent in the upcoming Financial Year 2020-21.
Hindustan Unilever Q3: Steady performance amidst the slowdown
Despite the ongoing consumption slowdown, Hindustan Unilever has been able to maintain the same 5 per cent year-on-year growth in volumes in each of the last three quarters. It has been able to hold v
Markets Recoil as Economic Survey Stokes Fiscal Slippage Fears
The 30-share BSE Sensex closed 190.33 points, or 0.47 per cent, lower at 40,723.49. Likewise, the broader NSE Nifty shed 73.70 points, or 0.61 per cent, to finish at 11,962.10.
Govt Revises GDP Growth For 2018-19 to 6.1 Per Cent From 6.8 Per Cent
Earlier in the day, the Economic Survey presented by chief economic advisor (CEA) Krishnamurthy Subramanian projected revival of economic growth to 6-6.5 per cent in the next fiscal starting April 1, 2020.
Fiscal deficit target may be relaxed to arrest declining growth: Economic Survey
The Medium Term Fiscal Policy (MTFP) statement presented with the Budget 2019-20, pegged the fiscal deficit target for 2019-20 at 3.3 per cent of gross domestic product (GDP), which was further expected to follow a gradual path of reduction and attain the targeted level of 3 per cent of GDP in 2020-21, and continue at the same level in 2021-22.
India's share in global commercial services exports up at 3.5 per cent
According to the economic survey tabled by finance minister Nirmala Sitaraman, the service sector acounts for 55 per cent of economic growth
Economic Survey's GDP growth forecast for FY20 wide off projection
It is for the second consecutive time that NSO's GDP estimate is significantly lower than the projection made in the survey prepared by the finance ministry
GDP growth expected to strongly rebound to 6-6.5% in FY21: Economic Survey
India's economic growth is expected to "strongly rebound" to 6-6.5 per cent in 2020-21 from 5 per cent estimated in the current fiscal, the Economic Survey said on Friday, adding that the government with a strong mandate has the capacity to expedite reforms.
Explained: What is Economic Survey’s strategy for boosting wealth creation?
Economic Survey reiterates PM Narendra Modi's call for increasing “wealth creators” in the economy.
Fidelity Bank reports a 28.5% increase in profit for FY 2019
Earlier today, Fidelity Bank Plc announced its unaudited financial reports for the period ended December 31st, 2019.
Core Sector Growth Recovers To 1.3% In December
The growth was, however, lower than 2.1 percent recorded in December 2018.
Corporate tax cut to mostly benefit less than 1 pc of companies: Survey
The corporate tax cut announced by FM last Sept will benefit less than 1 pc of firms, as per Economic Survey.
Slowdown bottomed out, GDP expected to grow at 6.5 per cent: Chief Economic Adviser
The Economic Survey has projected the GDP to expand by 6-6.5 per cent
Credit rating agency S&P expected to keep Turkey's outlook unchanged
The U.S.-based international credit rating agency Standard & Poor's S&P is expected to keep Turkey's credit ratings and the overall outlook...
Turkey's 2-year benchmark bond yield drops to single digits
The two-year benchmark bond yield has fallen to single digits for the first time since November 2016
Market watch: KSE-100 falls 273 points owing to global sell-off
Benchmark index decreases 0.65% to settle at 41,630.93
Budget 2020: How FM Nirmala Sitharaman's fiscal deficit math is likely to move Sensex, Nifty on Feb 1
Budget 2020: An increase in fiscal deficit target in view of the ongoing economic slowdown may not negatively impact the market since elevated level of expenditure is expected to result in higher demand in Indian economy
Lebanese bonds tumble as uncertainty increases
"Lebanese debt is currently trading at a large discount and investors have already priced in a restructuring," Saeb El Zein, a financial markets expert told Annahar.
Consumer Sentiment Jumps Higher
Consumer sentiment was bolstered by record low unemployment, record gains in income, and near record lows in inflation. | Economy
Budget 2020: Challenge for Indian Finance Minister is to Balance Growth, Fiscal Deficit
New Delhi (Sputnik): Amid the slowdown in the Indian economy, the government lowered its national income growth forecast from 7 percent to 5 percent for the current fiscal year. The Economic Survey tabled in Parliament on Friday pegged growth for 2020-21 at between 6 and 6.5 percent.
ITC Q3 pre-tax profit rises 4.5% to Rs 5049 cr on hotels, agro businesses
The company said that the macro-economic environment continues to be adversely impacted as reflected in GDP growth, and persistent weakness in consumption demand and investments
Economic Survey backs Temasek-like model proposed for divestment
Survey recommends transferring stake of listed govt firms to a corporate entity
Revival in sight: Economic Survey pegs FY21 GDP growth at 6-6.5%
Fiscal targets may have to be relaxed for the current year
OPEC's oil output in January declined 640K bpd to 28.35 million bpd
The crude oil output of the Organization of the Petroleum Exporting Countries (OPEC) fell 640,000 barrels per day (bpd) in January to 28.35 million bp
Does Sensex really mirror the economy?
Change in index constituents also influenced by trading volume, market capitalisation
Matthews International Corporation (MATW) CEO Joseph Bartolacci on Q1 2020 Results - Earnings Call Transcript
Start Time: 09:00 End Time: 09:23 Matthews International Corporation (NASDAQ:MATW) Q1 2020 Earnings Conference Call January 31, 2020, 09:00 AM ET Company Participants Joseph Bartolacci - President and
Saudi int’l reserves record three-year high in 2019
Riyadh – Mubasher: Saudi Arabia’s foreign reserves grew by 0.59% year-on-year in 2019, recording its highest level in three years. Saudi international reserves rose to $499.54 billion in 2019, compared to $496.59 billion in the year-ago period. It …
Economic Survey: 'Counter-cyclical fiscal policy' to boost demand justified
The Survey places primary blame for the slowdown on global factors, saying 'the deceleration of India's GDP growth since 2017 has tracked the decline in world output'
Broadridge Financial Solutions, Inc. (BR) CEO Tim Gokey on Q2 2020 Results - Earnings Call Transcript
Broadridge Financial Solutions, Inc. (NYSE:BR) Q2 2020 Earnings Conference Call January 31, 2020 08:30 AM ET Company Participants Edings Thibault - Head of Investor Relations Tim Gokey - Chief Executi
Financial Institutions, Inc. (FISI) CEO Marty Birmingham on Q4 2019 Results - Earnings Call Transcript
Financial Institutions, Inc. (NASDAQ:FISI) Q4 2019 Results Conference Call January 31, 2020 08:30 AM ET Company Participants Shelly Doran - Director, Investor and External Relations, EVP and General C
Fiscal deficit hits 132% of full-year target
The deficit was 112.4% of 2018-19 Budget Estimate (BE) in the corresponding period.
Economic Survey 2020: India has low rates of formal entrepreneurship
Large number of enterprises operate in informal economy not captured by data
SBI posts highest ever net on Essar Steel recovery
Asset quality improves, slippages stay elevated; no big ticket loan going forward, says CMD
Economic Survey 2019-20: Food inflation higher in urban areas
Economic Survey moots tighter monetary policy in case of food, fuel price shock
Core sector grows at 1.3% in Dec. 2019
The growth was, however, lower than the 2.1% recorded in December 2018.