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Category : Business

Room for another 25bps easing by Sept: Citigroup

Saheli 07 Apr 2016 409 Views

CHENNAI: With the Reserve Bank of India cutting its key repo rate by 25 basis points (bps) this week, Citigroup has said that there is room for another 25 bps easing in policy rates by September or earlier. The brokerage has cut its FY17 consumer price index (CPI) forecast from ... Read More »

FDI to reduce India’s current account deficit: Moody’s

Saheli 07 Apr 2016 370 Views

CHENNAI: Credit rating agency Moody’s Investors Service on Thursday said India’s rising foreign direct investment (FDI) inflows reduces the current account deficit and also the external financing needs. In a statement Moody’s said it does not expect widening of India’s current account deficit based on its assumptions that commodity prices ... Read More »

Adani to restart talks with stakeholders over Australian mine project

Saheli 07 Apr 2016 440 Views

MELBOURNE: The Adani Group on Thursday said it will restart talks with stakeholders to take forward its plans to build one of the world’s largest coal mines in Australia, days after the Indian mining giant’s controversy-hit $21.7 billion project won three mining leases. “The granting of mining leases (MLs) means ... Read More »

No serious challenge to rupee: Arun Jaitley

Saheli 07 Apr 2016 457 Views

NEW DELHI: The rupee does not face any “serious challenge” of depreciation and will find its own level after initial bouts of volatility, finance minister Arun Jaitley said on Thursday. “I think India’s currency is finding its own level. I don’t see a very serious challenge,” he said at an ... Read More »

Russia’s Lukoil reports weak net income
Business

Russia’s Lukoil reports weak net income

Saheli 04 Apr 2016 389 Views

MOSCOW, April 4 — Russian oil producer Lukoil said Monday its full-year 2015 profit was down more than 20 percent from the previous year, though total output increased. Lukoil, the No. 2 oil producer in Russia, reported total petroleum productionincreased 2.8 percent to reach 2.4 million barrels of oil equivalent ... Read More »

Wood Group lands contract extension for North Sea
Business

Wood Group lands contract extension for North Sea

Saheli 04 Apr 2016 494 Views

ABERDEEN, Scotland, April 4 —British oil services company Wood Group said it was given a contract extension by a Middle East company to continue operations in the North Sea. The Abu Dhabi National Energy Co., known also as TAQA, extended a contract for Wood Group by two years. “Under the ... Read More »

Crude oil prices start Monday on a down note
Business

Crude oil prices start Monday on a down note

Saheli 04 Apr 2016 393 Views

NEW YORK, April 4 — Crude oil prices drifted marginally lower in early Monday trading after Iran said it was preparing to put more of its petroleum products on the global market. Crude oil prices suffered one of the worst days of the year Friday after Saudi officials said they’d ... Read More »

Crude oil prices start Monday on a down note
Business

Crude oil prices start Monday on a down note

Saheli 04 Apr 2016 425 Views

NEW YORK, April 4 — Crude oil prices drifted marginally lower in early Monday trading after Iran said it was preparing to put more of its petroleum products on the global market. Crude oil prices suffered one of the worst days of the year Friday after Saudi officials said they’d ... Read More »

Kalashnikov looks to civilian market to boost sales
Business

Kalashnikov looks to civilian market to boost sales

Saheli 04 Apr 2016 401 Views

MOSCOW, April 4  — Russian weapons firm Kalashnikov, maker of the iconic AK-47 assault rifle, is looking to expand its domestic sales as U.S. and international sanctions continue to strain the company’s bottom line. Russian military contracts continue to make up a large portion of the company’s sales, Vladimir Dmitriev, ... Read More »

Navy exercises contract option for another LCS
Business

Navy exercises contract option for another LCS

Saheli 04 Apr 2016 456 Views

WASHINGTON, April 4  — A Lockheed Martin-led team has been contracted by the U.S. Navy to build the 13th Freedom-class littoral combat ship. The award — the exercise of an earlier contract option — includes funding for seaframe construction, systems integration and testing. The vessel, LCS 25, will be built ... Read More »

IAI producing C4 systems for Israeli F-35s
Business

IAI producing C4 systems for Israeli F-35s

Saheli 04 Apr 2016 449 Views

BEN GURION INTERNATIONAL AIRPORT, Israel, April 4  — Israel Aerospace Industries reports it is producing command, control, communications and computing systems for F-35 aircraft ordered from the United States. The announcement follows completion of the systems definition, prototyping and testing phases of the C4 system. “Using generic communications infrastructure based ... Read More »

New army launcher successfully fires Hellfire, Sidewinder missiles

Saheli 04 Apr 2016 557 Views

WASHINGTON, April 4 — U.S. Army testers successfully fired two new missiles from a prototype version of the service’s newest mobile launcher, expanding the slate of viable munitions for the weapon. An AIM-9X Sidewinder and Longbow Hellfire were both fired from the Multi-Mission Launcher during a round of weapons testing ... Read More »

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