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    Asia shares up as North Korea tensions ease, wary Fed weighs on dollar

    SINGAPORE - Asian stocks edged higher on Thursday as tensions between the United States and North Korea came off the boil, while the Federal Reserve's concerns about weak U.S. inflation weighed on the dollar. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.5 percent. Japan's Nikkei slipped 0.1 percent, weighed down by a stronger yen as the...

    • 12 min ago

    Infosys to consider share buyback proposal

    India's Infosys Ltd said on Wednesday its board will consider a proposal, to buy back equity shares, at its meeting later this month. The country's No. 2 software services exporter said in April, it would return up to 130 billion rupees ($2.03 billion) to shareholders in the fiscal year ending March 2018, adding the manner of the payout will be decided by later by the board. The company, which...

    • 15 min ago

    For growth, banks have to transfer rate cut benefits to customers

    Effective transmission of the benefits of policy rate cuts by banks to their customers is the key to achieving non-inflationary growth, RBI Governor Urjit R. Patel has said. According to Patel, while the transmission has improved, there was still some space for banks to cut their lending rates, especially on the existing loan portfolios. By the central government's own...

    • 20 min ago

    Cabinet nod to complete North Koel reservoir project

    The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday gave its approval to complete the remaining work on the North Koel reservoir project that will provide irrigation to 1,11,521 hectares of land in the most drought prone areas of Jharkhand and Bihar, an official release said. The unfinished project is currently providing irrigation to 71,720 hectares of land. The estimated...

    • 22 min ago

    Banks to go ahead with August 22 nationwide strike

    The United Forum of Bank Unions (UFBU) on Wednesday declared that their nationwide strike call for August 22 stands as the talks with the Indian Banks' Association (IBA) in Mumbai have failed. The Forum is an umbrella body of nine unions in the Indian banking sector. The UFBU has given notice of a nationwide strike on August 22 to protest against reforms in the banking sector and other...

    • 25 min ago

    Non-fuel retail to widen petrol pumps` revenue base: Dharmendra Pradhan

    The government is considering enhancing the revenue base of state-owned oil companies' petrol pumps by allowing them to offer pharmaceutical, groceries and other such products for sale. According to Minister for Petroleum and Natural Gas Dharmendra Pradhan, pharmacies and Information Technology (IT) service centres could be set up at petrol pumps in the future. The...

    • 29 min ago

    Oil edges up on decline in crude stocks, but high production caps gains

    SINGAPORE - Oil prices edged up early on Thursday, clawing back some ground after losses in the previous session. Traders said the market was range-bound as falling crude inventories provided price support while high output was capping gains. Brent crude futures, the international benchmark for oil prices, were at $50.43 per barrel at 0101 GMT, up 16 cents, or 0.3 percent,...

    • 31 min ago

    Centre approves new Metro Rail policy, private partnership mandatory

    The Union Cabinet on Wednesday approved its Metro Rail Policy 2017 focusing on compact urban development, cost reduction and multi-modal integration, Union Finance Minister Arun Jaitley said. Jaitley said the new policy has been formulated to enable realisation of growing metro rail aspirations of a large number of cities in a responsible manner. He said private investment and...

    • 33 min ago

    India's bond, FX markets closed on Thursday for holiday; stock markets open

    MUMBAI - India's bonds and forex markets are closed on Thursday for a holiday. Trading will resume on Friday. The stock markets will operate as usual on Thursday. The benchmark 10-year yield rose 1 basis point to 6.53 percent on Wednesday, while the rupee weakened to 64.15 per dollar from its Monday's close of 64.1250 per dollar. (Reporting by Abhirup Roy)

    • 34 min ago

    Government has sympathies with home buyers: Arun Jaitley

    The government on Wednesday said it has full sympathy for those who have booked flats with housing promoters and it is their right to get the houses for which they have paid money. When asked in this regard at a media briefing after the cabinet meeting, Finance Minister Arun Jaitley said: "Those who have bought flats and have invested money should get their flats. It is their right....

    • 40 min ago