Tue, Oct 6 2015
MUMBAI - The company behind Cafe Coffee Day, India's biggest coffee chain, will launch an initial public offering next week, aiming to raise up to $176 million in the country's biggest IPO in nearly three years.
SEOUL - Samsung Electronics Co Ltd on Wednesday said it would post its first quarterly profit gain in two years, beating expectations as strong sales of chips and displays probably offset weakness in its smartphone division.
NEW DELHI - Prime Minister Narendra Modi is to tell states to raise electricity prices in return for access to a financial bailout package, a politically contentious move that risks a backlash from farmers and consumers long used to free or cheap power.
TOKYO - Asian stocks held firm on Wednesday as oil prices showed some signs of life, supporting battered resource shares and emerging economy currencies, while Japanese markets were tentative ahead of a crucial Bank of Japan policy meeting.
NEW DELHI - Growth prospects for India remain favourable despite a slowdown in the global economy, but the government should speed up structural reforms and relax supply constraints in the energy, mining, and power sectors, the International Monetary Fund said on Tuesday.
BERLIN - Volkswagen Chief Executive Matthias Mueller said in an interview with a German newspaper that the company would launch a recall for cars affected by its diesel emissions crisis in January and complete the fix by the end of next year.
SINGAPORE - Gold rose towards its highest in nearly two weeks on Wednesday, as more sluggish U.S. economic data supported views that the Federal Reserve would delay a rate hike to next year.
NEW YORK - Oil prices jumped more than $2 a barrel on Tuesday, breaking out of a month-long trading range on technical buying and industry talk as well as U.S. government data suggesting the global supply glut could be ebbing.
WASHINGTON - U.S. President Barack Obama kicked off a sales pitch on Tuesday for a 12-nation Pacific Rim trade agreement, urging farmers to push their lawmakers to approve what he said would boost their sales in a fast-growing region.
BENGALURU - India hopes to roll out a new goods and services tax (GST) in 2016, Prime Minister Narendra Modi said on Tuesday in a speech to Indian and German businesses that played up the attractiveness of investing in Asia's third-largest economy.