The New Indian Express Business News

  • Business

    Shares of Britannia tank amid health concerns over 'bread'

    NEW DELHI: Stocks of Britannia, Jubilant FoodWorks (Domino's Pizza) and WestLife Development, which owns a franchisee of McDonald's Restaurants, slipped three to twelve percent intraday on Tuesday owing health concern issues as the Centre for Science and Environment (CSE) claimed bread contains cancer-causing chemicals. A CSE report stated that nearly 84 percent of 38 commonly...

    • 3 hrs ago
  • Business

    India to boost Chabahar port project, links to Afghanistan

    BEIRUT: Indian Prime Minister Narendra Modi on Monday pledged up to $500 million to develop the southern Iran port of Chabahar, in a move to give his country trade access to Iran, Afghanistan and central Asia. The route is currently all-but blocked by Pakistan, long at odds politically with India. The deal, which runs in conjunction with the development of road and rail links through...

    • 3 hrs ago
  • Business

    Financial tech startups compete for overlooked U.S. immigrant market

    MEXICO CITY: For two decades, Noe Sanchez sent money from California to his father in Mexico City through storefront outlets of traditional remittance firms such as Western Union. Now he grabs his smartphone and uses Remitly, one of several new competing mobile apps promoting cheap and quick international transfers. Sanchez quickly got over his initial unease of sending money...

    • 4 hrs ago
  • Business

    Oil prices fall as dollar gains, but possible stock drawdown supports

    SINGAPORE: Oil prices fell in thin trade on Tuesday as the U.S. dollar strengthened, but losses were curbed by a likely drawdown in U.S. crude and gasoline stockpiles. Brent futures had declined 14 cents to $48.21 a barrel by 0307 GMT, after closing down 37 cents in the previous session. U.S. crude futures dropped 8 cents to $48.00 a barrel, having settled down 33 cents the...

    • 5 hrs ago
  • Business

    Sensex edges lower 38 points on global cues, weak rupee

    MUMBAI: The Sensex inched lower by about 38 points in early trade today on sustained selling by funds and retail investors, tracking losses in global markets amid fears of a possible hike in US interest rates. Besides, a further depreciation in the rupee, which fell 18 paise to over 2-1/2 month low of 67.67 against the dollar, weighed on sentiment. The pain continued for the fifth straight...

    • 5 hrs ago
  • Business

    Why the title of 'developing country' no longer exists

    They are exploited by ruthless multi-nationals. They are under the jackboot of champagne-swilling currency traders. They are in hock to the banks, crushed by unfair trade agreements, and their workers are virtual slaves, turning out clothes in sweatshops on starvation wages. To many people on the Left, vast parts of the world are impoverished by a greedy West, while the professional poverty...

    • 6 hrs ago
  • Business

    Public debt falls to Rs 55.73 lakh crore at fiscal-end

    NEW DELHI: India's public debt declined marginally to Rs.55.73 lakh crore at the end of the last fiscal in March, registering a fall over the previous quarter of 0.04 percent, an official statement said on Monday.Government debt (excluding liabilities under the Public Account) was at Rs 55.75 lakh crore at the end of December 2015, said the quarterly report on debt management released...

    • 7 hrs ago
  • Business

    Wall Street dips; Apple gain fails to offset rate worries

    Wall Street ended lower on Monday as a bounce in Apple failed to offset concerns that the U.S. Federal Reserve could raise interest rates sooner than later. The timing of future Fed rate hikes in the face of a sluggish economy is a major focus among stock investors who have benefited from historically low borrowing costs since the 2008 financial crisis. The Dow Jones industrial average...

    • 7 hrs ago
  • Business

    India puts off GM cotton seed order, easing pressure on Monsanto

    NEW DELHI: India has temporarily withdrawn an order capping royalties on any new variety of genetically-modified (GM) cotton seeds, a government source said on Monday, bringing relief to U.S.-based Monsanto Co, the market's sole supplier. "We are temporarily withdrawing the order," said the source, who is involved in the decision-making process but didn't wish...

    • 7 hrs ago
  • Business

    Equity MFs' asset base Surges 16 percentage in April

    NEW DELHI: Retail investors have shown fresh confidence in the Indian stock market as flow of funds in the equity mutual funds has increased 16 per cent to Rs 3.57 lakh crore in April. According to the latest data available with Association of Mutual Funds in India (AMFI), the industry's equity assets under management (AUM) rose to Rs 3.57 lakh crore last month as against Rs 3.06 lakh...

    • 11 hrs ago

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