BENGALURU Indian advertisers are on track to spend more than $400 million during this year's ICC Cricket World Cup, looking to cash in on a mania that is smashing viewing records in the world's biggest market for the sport.
BENGALURU/MUMBAI Shares of Indian mortgage lender Dewan Housing Finance Corp Ltd (DHFL) plunged as much as 18% on Thursday after two major credit ratings agencies categorised the company's commercial paper at default levels, fanning fears of growing distress in the country's shadow banking sector.
May 30 Indian shares rose on Thursday ahead of
May derivative contracts' expiry, with Bharti Airtel Ltd
and NTPC Ltd leading gains, as investors
awaited appointments for key ministries at Prime Minister
Narendra Modi's swearing-in ceremony.
BENGALURU McDonald's Corp's Indian arm has reached a settlement with former partner Vikram Bakshi, acquiring full ownership in their joint venture Connaught Plaza Restaurants Ltd, the company said in a statement.
BENGALURU ICICI Bank reported a 5 percent drop in fourth-quarter profit on Monday, missing estimates after being hit by a rise in expenses and a higher accumulation of bad loans.
Spotify, the world's most popular paid music streaming service, launched in India on Tuesday, stepping into a price-sensitive market crowded by well-funded local players like JioSaavn and Apple Music.
LONDON Prudential , Britain's largest insurer, said new business profit from its life insurance operations rose 17 percent in the first nine months of the year, driven by another robust performance in Asia.
* Shares down 0.5 pct, just outperforming FTSE 100
(Adds detail from statement, share reaction, analyst comment,
* Indonesia down despite Sept trade surplus
* Singapore sheds nearly 0.8 pct
By Chandini M
Oct 15 Southeast Asian stocks tracked global
peers lower on Monday as investors fretted over the impact of
U.S.-China trade spat, while caution ahead of corporate results
and uncertainty over a clean Brexit kept risk appetite subdued.
Over the weekend, China central bank governor Yi Gang said
he still saw plenty of room for adjustment in interest rates and
the reserve requirement ratio, as downside risks from trade
tensions with the United States remained significant.
MSCI's broadest index of Asia-Pacific shares outside Japan
fell 1 percent while Shanghai shares
were down 0.75 percent, with investors bracing for a European
Union summit from Wednesday amid concerns over Brexit.
Manny Cruz, an analyst at Asiasec Equities Inc said regional
markets fell due to weakness in broader Asia amid fears that
some U.S. companies may post lower-than-expected earnings.
"The Brexit deal is also hanging in the balance and is
causing anxiety," he added.
Although stocks in the region recovered on Friday, partly
after Chinese trade data showed strong growth in September,
investors turned cautious on Monday as a bounceback in oil
prices and rising tensions between Western powers and Saudi
Arabia added to a confluence of factors that battered global
equities last week.
"With China's GDP data expected later this week, people are
just waiting on the sidelines," said Joel Ng, an analyst with
Gang said on Sunday China's economic growth would
comfortably reach its full-year target of around 6.5 percent
with the possibility of overshooting. The GDP data is expected
on October 19.
After see-sawing during the day, Indonesian shares
settled 0.5 percent lower. The country's trade balance
unexpectedly swung back to surplus in September as imports and
exports grew much slower than expected, data released by the
statistics bureau showed on Monday.
Philippine shares ended the session 1.1 percent
lower, hurt by industrial and consumer stocks. Conglomerates SM
Investments and Universal Robina Corp were the
biggest drags on the benchmark.
The Vietnamese index ended 1.9 percent lower while
Singapore shares shed nearly 0.8 percent.
Thailand markets were closed for a holiday.
For Asian Companies click;
SOUTHEAST ASIAN STOCK MARKETS
Market Current Previous close Pct Move
Singapore 3045.97 3069.17 -0.76
Manila 6926.51 7004.77 -1.12
Jakarta 5727.256 5756.49 -0.51
Kuala Lumpur 1728.74 1730.74 -0.12
Ho Chi Minh 951.64 970.08 -1.90
Change on year
Market Current End 2017 Pct Move
Singapore 3045.97 3402.92 -10.49
Manila 6926.51 8558.42 -19.07
Jakarta 5727.256 6355.654 -9.89
Kuala Lumpur 1728.74 1796.81 -3.79
Ho Chi Minh 951.64 984.24 -3.31
(Reporting by Chandini Monnappa, additional reporting by Rashmi
Ashok; Editing by Vyas Mohan)
Global miner Rio Tinto will return $3.2 billion to shareholders from its sale of Australian coal assets this year in addition to existing buyback programs, it said on Thursday.