RBI relaxes cash withdrawal limit with immediate effect
MUMBAI The Reserve Bank of India (RBI) on Monday relaxed cash withdrawal limits from automated teller machines (ATMs) and current accounts with immediate effect.
HELSINKI Finnish mobile phone maker Nokia NOK1V.HE said it would cut over 1,000 information technology jobs as part of its restructuring plan aimed at stanching its cash bleed.
It said 820 employees will transfer to HCL Technologies (HCLT.NS) and Tata Consultancy Services (TCS.NS) while 300 jobs will be elminated altogether.
The latest cuts, mostly in Finland, are part of plans announced last June to cut 10,000 jobs gobally. The company has cut around a third of its workforce under Chief Executive Stephen Elop.
Once the world's biggest mobile phone maker, Nokia has fallen behind Apple's (AAPL.O) iPhone and Samsung's (005930.KS) Galaxy phones in the lucrative smartphone market.
Nokia shares were flat, while HCL shares rose 4.8 percent and Tata Consultancy shares rose 1.2 percent in Mumbai.
(Reporting by Terhi Kinnunen and Ritsuko Ando; Editing by Hans-Juergen Peters)
SINGAPORE Oil markets were mixed on Tuesday, supported by Saudi Arabia saying it would strictly adhere to a commitment to cut output, but held back by scepticism in financial markets about the outlook for crude prices.
Gold prices rose on Tuesday to hover near seven-week highs hit the day before, with safe-haven demand boosted ahead of a speech in which British Prime Minister Theresa May is expected to discuss plans for a "hard Brexit".