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Jaitley slams oversight lapses amid PNB fraud probe

Tue, 20 Feb 2018 23:57:41 +0530

NEW DELHI/MUMBAI (Reuters) - India's Finance Minister decried a "lack of ethics" among sections of Indian business on Tuesday and criticised inadequate oversight by auditors and regulators, after the financial sector was rocked by a $1.8 billion fraud at a state-run bank.(image)

RBI says had issued warnings on possible misuse of SWIFT system

Tue, 20 Feb 2018 20:19:45 +0530

MUMBAI (Reuters) - The Reserve Bank of India on Tuesday said it had alerted unidentified banks about the need to prevent any "potential malicious use of the SWIFT infrastructure" at least three times since August 2016, but added lenders had not fully implemented all of the required measures.(image)

Asian stocks led higher by Japan as dollar extends recovery

Wed, 21 Feb 2018 08:52:44 +0530

TOKYO (Reuters) - Japanese shares led Asian markets higher after a weak start on Wednesday, with Japanese export focused companies attracting investors as the dollar gained against the yen thanks to U.S. Treasury debt yields hovering near highs not seen in four years.(image)

Enforcement Directorate probing 100 shell companies for links to Indian bank fraud case

Tue, 20 Feb 2018 16:35:30 +0530

NEW DELHI (Reuters) - India's financial crime fighting agency is investigating more than 100 "shell companies" that are suspected to be involved in the Punjab National Bank's near $1.8 billion fraud, a government source said on Tuesday.(image)

Gold falls further as higher yields prop up dollar

Wed, 21 Feb 2018 08:37:17 +0530

(Reuters) - Gold extended its fall on Wednesday as the dollar remained strong on rising treasury yields, while investors awaited the minutes of the U.S. Federal Reserve's last policy meeting for cues on the pace of interest rate hikes this year.(image)

India allows private firms to mine coal for commercial use

Tue, 20 Feb 2018 16:59:26 +0530

NEW DELHI (Reuters) - India will auction coal blocks to private companies, Coal Minister Piyush Goyal said on Tuesday, a move that would end restrictions on the sale and use of the fuel after more than four decades and end Coal India's near-monopoly status.(image)

Exclusive: Japan to buy at least 20 more F-35A stealth fighters - sources

Wed, 21 Feb 2018 08:33:37 +0530

TOKYO (Reuters) - Japan plans to buy at least 20 additional F-35A stealth fighters over the next six years, some or all of which it may purchase directly from Lockheed Martin Corp in the United States rather than assemble locally, three sources said.(image)

Ambuja Cements fourth-quarter profit jumps as sales volume rises

Tue, 20 Feb 2018 15:09:25 +0530

(Reuters) - Ambuja Cements Ltd reported an 89 percent jump in quarterly profit on Tuesday, helped by higher cement sales volume.(image)

UK steel industry vulnerable despite post-crisis recovery - Tata Steel

Wed, 21 Feb 2018 00:23:43 +0530

LONDON (Reuters) - Britain's steel industry is vulnerable despite recovering from a 2015 crisis, with many challenges that led to thousands of job cuts still not resolved and risks related to Brexit looming, the chief executive of Tata Steel UK said on Tuesday.(image)

Indian software services sector to grow 7-9 percent in FY19 - lobby group

Tue, 20 Feb 2018 19:59:30 +0530

HYDERABAD, India (Reuters) - India's software services exports will see revenue growth of 7-9 percent in constant currency terms in the fiscal year to March 2019, a leading lobby group forecast on Tuesday, as the industry continues to recover from what has been a tough year.(image)