Money News Headlines

RBI says 'watchful' of banks' bad loans levels

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MUMBAI - Reserve Bank of India Deputy Governor S. S. Mundra said the latest April-June earnings from state-owned lenders showed "stability" in terms of non-performing assets (NPAs), but added the central bank would remain "watchful."

9:56am IST

China stocks edge down as intervention brings some stability

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SHANGHAI - Chinese shares fell for a fourth consecutive day on Wednesday, but the declines were modest as Beijing's efforts to prop up values appeared to have brought a measure of stability to its unruly stock market.

9:36am IST

Oil prices fall on oversupply concerns, weaker dollar support

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SINGAPORE - Oil prices fell in Asian trade on Wednesday as concerns over global oversupply outweighed the impact of a likely larger than expected draw in U.S. crude stocks and a weakening dollar.

8:12am IST

Gold wedged below $1,100 ahead of Fed meeting outcome

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MANILA - Gold steadied at just below $1,100 an ounce on Wednesday, trading not far from a 5-1/2-year low, as investors awaited the outcome of the U.S. Federal Reserve's meeting for more clues on the timing of this year's interest rate increase.

9:35am IST

Tue, Jul 28 2015

State lenders' Q1 earnings dragged by rise in bad loans

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MUMBAI - Three of India's leading state-run lenders reported a drop in their first quarter net profits, weighed down by rise in provision for bad loans and cooling expectations of a turnaround in the country's dominant but ailing government banking sector.

Top News, Business 28 Jul 2015

Maruti Suzuki Q1 profit jumps 56 percent; lower costs, higher sales

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NEW DELHI - Maruti Suzuki India Ltd, India's top-selling carmaker, said on Tuesday first-quarter net profit rose 56 percent helped by lower costs, favourable foreign exchange rates and higher sales, but still missed bullish analyst estimates.

Top News, Business 28 Jul 2015

Pininfarina, Mahindra to resume sale talks in September - sources

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MILAN - Talks on the sale of indebted Italian car designer Pininfarina to Indian vehicle maker Mahindra & Mahindra will resume after the summer after the parties failed to strike a deal in July, two sources close to the matter said on Tuesday.

28 Jul 2015

SEBI orders cancellation of Sahara asset management permit

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MUMBAI - The Securities and Exchange Board of India (SEBI) has ordered the cancellation of Sahara conglomerate's fund management business permit in six months, saying it failed to meet a "fit-and-proper" rule with the group founder in jail.

Top News, Business 28 Jul 2015

PNB may take over steelmakers to recover debt

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NEW DELHI - Punjab National Bank (PNB), India's fourth-largest state lender by assets, could take control of some of the country's most heavily indebted steel companies and sell them on as part of a restructuring backed by New Delhi, bank officials said.

Top News, Business 28 Jul 2015

Antitrust watchdog imposes $66 million penalty on Hyundai Motor

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MUMBAI - The Competition Commission of India (CCI) fined the local unit of Hyundai Motor Co 4.2 billion rupees ($65.8 million) on Tuesday after an investigation found it had engaged in anti-competitive practices.

Top News, Business 28 Jul 2015