Sports News Updates

BRIEF-India's Divi's Laboratories Sept-qtr profit falls

Tuesday, October 31 2017

BRIEF-India's Divi's Laboratories Sept-qtr profit falls

BRIEF-India's Divi's Laboratories Sept-qtr profit falls BRIEF-India's Divi's Laboratories Sept-qtr profit falls 18:59 hrs Oct 31 (Reuters) - Divi's Laboratories Ltd * Sept quarter net profit 2.07 billion rupees versus profit of 2.24 billion rupees year ago * Sept quarter revenue from operations 8.90 billion rupees versus 10.05 billion rupees year ago * Says revenue during current half of year has been impacted due to‍​ FDA import alert, export shipments delay Source text - http://bit.ly/2xF72js Further company coverage: SEARCH

State Bank of India cuts lending rates, first time in 10 months

Tuesday, October 31 2017

State Bank of India cuts lending rates, first time in 10 months

State Bank of India cuts lending rates, first time in 10 months State Bank of India cuts lending rates, first time in 10 months Source : Last Updated: Tue, Oct 31, 2017 19:16 hrs Mumbai: State Bank of India, the country’s top lender by assets, will cut marginal cost-based lending rates (MCLR) across maturities by 5 basis points, effective Wednesday, in what will be its first lending rate cut in 10 months. SBI, which accounts for more than a fifth of India's banking assets, will lower the 1-year MCLR to 7.95 percent from 8 percent, according to a notification on Tuesday. The new logo of State Bank of India (SBI) is pictured at the podium of the venue of a news conference after the announcement of SBI's fourth quarter results, in Kolkata, India May 19, 2017. REUTERS/Rupak De Chowdhuri/File Photo The RBI last year unveiled the MCLR, which sought to remove much of the discretion commercial banks have to set lending rates. But to its frustration, the pace of bank lending rate cuts has lagged the reduction in policy rates, which fell by a total 200 basis points since January 2015. The RBI is keen for banks to lower lending rates further to accelerate credit growth and private investment in an economy growing at its slowest in more than three years. Bank loans last financial year grew at their slowest pace in more than six decades. Flush with deposits after a surprise scrapping of high-value notes last year, banks led by SBI had last sharply cut lending rates under the MCLR system in early January. SEARCH

Indian phone market price war hits Bharti Airtel's quarterly profit

Tuesday, October 31 2017

Indian phone market price war hits Bharti Airtel's quarterly profit

Indian phone market price war hits Bharti Airtel's quarterly profit Indian phone market price war hits Bharti Airtel's quarterly profit 12 hrs India’s top telecoms operator, Bharti Airtel Ltd said its second quarter profit plunged 77% from a year earlier, as it struggled amid a price war in the world’s No.2 mobile phone market. Airtel’s second quarter net profit of 3.43 billion rupees ($53 million) was its smallest profit in 19 quarters and its sixth consecutive drop in quarterly profit. However, it beat analysts’ average estimate of 3.03 billion rupees, data. Airtel’s revenue fell 11.7 percent to 217.77 billion rupees. It operates in 17 countries across Asia and Africa. Mobile services revenue in India declined about 17 percent to 122.45 billion rupees. Indian telecom operators have been hit by the market entry late last year of Jio, Reliance Industries’ telecoms venture which is backed by India’s richest man Mukesh Ambani. It sparked a fierce price war by initially undercutting rival’s charges. The sector faces further price pressure after India’s telecoms regulator this month cut the fee operators pay each other for calls made from one network to another. “The financial stress in the industry continues due to double digit revenue decline and will be further accentuated by the reduction in IUC rates in the next quarter,” Gopal Vittal, Bharti Airtel’s chief executive for India and South Asia, said in a statement. That will eventually lead some operators to either consolidate or exit the market, he added. Vodafone and Idea Cellular are in the process of combining their operations in India. The merger will potentially create the biggest Indian telecoms company, surpassing Airtel, which recently increased its customer base with its acquisition of the Tata conglomerate’s consumer mobile business. Bharti Airtel scrip on BSE was trading at 497.65, 4.85 points or nearly 1% up, post end of trading hours. ($1 = 64.7475 Indian rupees) SEARCH

BRIEF-Sunteck Realty approves issue of 15.5 mln shares to QIBs worth 5 bln rupees​

Tuesday, October 31 2017

BRIEF-Sunteck Realty approves issue of 15.5 mln shares to QIBs worth 5 bln rupees​

BRIEF-Sunteck Realty approves issue of 15.5 mln shares to QIBs worth 5 bln rupees​ BRIEF-Sunteck Realty approves issue of 15.5 mln shares to QIBs worth 5 bln rupees​ 14:40 hrs Oct 31 (Reuters) - Sunteck Realty Ltd * Approves issue of 15.5 million shares to qualified institutional buyers worth 5 billion rupees​ Source text for Eikon: Further company coverage: SEARCH

ASIA CREDIT CLOSE: Huarong weakens on China overload

Tuesday, October 31 2017

ASIA CREDIT CLOSE: Huarong weakens on China overload

ASIA CREDIT CLOSE: Huarong weakens on China overload ASIA CREDIT CLOSE: Huarong weakens on China overload 14:39 hrs HONG KONG, Oct 31 (IFR) - Huarong Asset Management's credit curve widened on Tuesday after it announced a US$3.2bn new issue of US dollar-denominated five, 10, 30 and perpetual non-call five notes. The curve was seen about 5bp-6bp wider this morning, before narrowing slightly to about 3-4bp wider in the afternoon, according to a Hong Kong based trader. The state-owned Chinese asset manager is also marketing an eight-year Singapore dollar bond. Huarong is taking advantage of a robust backdrop that helped quickly absorb the country's US$2bn sovereign bond in primary last week. However, some investors waited on the sidelines to see where China's SOEs would settle in secondaries, after the country's first US dollar sovereign bond since 2004 prompted massive tightening across the country's SOE complex. "We're actually seeing names like China State Construction giving back some of the gains in the run-up to the sovereign bond," said a Singapore-based trader, who said CSC's bonds were 3bp wider. "Investors are still analyzing what the new levels for China corporates are in secondaries, post the sovereign bond. China's pipeline is still quite full, with the likes of China Minmetals and Huarong in the mix." Asia's investment grade CDS index was 1bp wider at 77bp/76bp, according to Thomson Reuters data. (Reporting by Frances Yoon)

US STOCKS-Wall St set to open higher on upbeat earnings

Tuesday, October 31 2017

US STOCKS-Wall St set to open higher on upbeat earnings

US STOCKS-Wall St set to open higher on upbeat earnings US STOCKS-Wall St set to open higher on upbeat earnings 18:40 hrs * MasterCard, Kellogg up after strong results * Under Armour slumps as profit hit by charges; drags down Nike * Futures up: Dow 29 pts, S&P 4.75 pts, Nasdaq 24.75 pts (Adds comment and details, updates prices) By Sruthi Shankar Oct 31 (Reuters) - Wall Street was set to climb higher on the last trading of October, helped by a string of strong earnings reports from major names Kellogg and MasterCard. MasterCard shares were up 1 percent premarket after the company's quarterly profit beat market estimates, while Kellogg jumped 5 percent following a surprise rise in sales. "We're still in the thick of earnings and have seen some high-profile companies driving the market a lot," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin, Texas. The earnings season has been closely tracked to justify stretched valuations and results have been largely above expectations. With more than half the S&P 500 components reported, third-quarter earnings are estimated to have climbed 6.7 percent, up from an expectation of 5.9-percent growth at the start of October, according to Thomson Reuters I/B/E/S. The Federal Open Market Committee starts its two-day meeting in Washington to discuss interest rates amid an impending announcement on the next Fed chair. President Donald Trump is likely to pick Fed Governor Jerome Powell as the next head of the U.S. central bank on Thursday. U.S. Treasury yields fell after the report on Monday as Powell is seen as more dovish than other contenders. The central bank is likely to refrain from raising rates after the meeting, with economists expecting a hike only in December, according to a Reuters poll. "The bigger news as far as economics goes is the payroll numbers on Friday." At 8:26 a.m. ET (1226 GMT), Dow e-minis were up 29 points, or 0.12 percent, with 15,692 contracts changing hands. S&P 500 e-minis were up 4.75 points, or 0.18 percent, with 76,810 contracts traded. Nasdaq 100 e-minis were up 24.75 points, or 0.4 percent, on volume of 19,612 contracts. Under Armour slumped 16.7 percent after the company slashed 2017 sales and profit forecasts and reported its first year-on-year fall in revenue. Bigger rival and Dow component Nike declined 1.48 percent. Mondelez jumped nearly 6.36 percent after the Oreo maker reported better-then-expected profit and revenue as demand for its key brands rose in Europe and Latin America and the company cut costs. Qualcomm was down 4.10 percent after Reuters reported that Apple has designed iPhones and iPads that would drop chips supplied by Qualcomm. (Reporting by Sruthi Shankar in Bengaluru; Editing by Sriraj Kalluvila) SEARCH

Japan: Man held after police discover nine mutilated bodies in his apartment

Tuesday, October 31 2017

Japan: Man held after police discover nine mutilated bodies in his apartment

Japan: Man held after police discover nine mutilated bodies in his apartment Japan: Man held after police discover nine mutilated bodies in his apartment Source : 16:45 hrs [Japan], October 31 (ANI): The Japanese Police has arrested a 27-year-old man in Zama, after they found nine bodies, including two with their heads severed and dumped in a cool box, in his flat in the Tokyo suburbs. The Metropolitan Police Department found the corpses and body parts while investigating the accused named, Takahiro Shiraishi in connection with the disappearance of a 23-year-old woman in Hachioji, western Tokyo. "It's true that I tried to hide the bodies of the people I killed to destroy evidence," The Japan Times quoted the accused as saying to the police. The police arrested the man, on an initial suspicion of discarding a corpse. Police suspect that one of the bodies may belong to the missing 23-year-old woman. The police said that the body parts, contained in cooler boxes in the man's apartment, include at least two severed heads. The police plan to carry out DNA tests in an effort to identify the deceased, the investigators added. The woman was captured by a surveillance camera walking with the man in Zama near Sobudai-mae Station on the Odakyu Line, the police said. An investigation was launched after the woman's older brother reported her missing to the Takao Police Station in western Tokyo on October 24. He also said that he has not been able to contact her since October 21. The apartment is in a residential area along the railway tracks of the Odakyu Odawara Line, about 600 meters from Sobudai-mae Station. The investigation on the matter is underway.(ANI) SEARCH talking point on sify news Latest Features

China considers three-years jail for disrespecting national anthem

Tuesday, October 31 2017

China considers three-years jail for disrespecting national anthem

China considers three-years jail for disrespecting national anthem China considers three-years jail for disrespecting national anthem Source : 16:46 hrs [China], Oct 31 (ANI): China is considering a law mandating prison sentence of up to three years for disrespecting the national anthem, reported China's news agency Xinhua. A draft amendment to the country's Criminal Law was submitted for deliberation at a session of the National People's Congress (NPC) Standing Committee on Tuesday. Xinhua quoted Wang Chaoying, deputy head of the NPC Standing Committee's Legislative Affairs Commission, as saying, "As the criminal law stipulates penalties for offences to national flag and national emblem, violations regarding national anthem should also be incorporated with the passing of the new law." This comes at a time when in India, the Supreme Court has hinted at modifying its last year order that made it mandatory for cinema halls to play National Anthem before screening of films. The move has since attracted controversy, with arguments both for and against the move. China's national anthem "March of the Volunteers" encouraged the country's people during the Chinese People's War of Resistance Against Japanese Aggression. It was chosen as the national anthem in 1949. (ANI) SEARCH talking point on sify news Latest Features

Airbus's legal troubles grow as admits inaccurate U.S. arms filings

Tuesday, October 31 2017

Airbus's legal troubles grow as admits inaccurate U.S. arms filings

Airbus's legal troubles grow as admits inaccurate U.S. arms filings Airbus's legal troubles grow as admits inaccurate U.S. arms filings Source : 17:45 hrs By Tim Hepher and Cyril Altmeyer PARIS (Reuters) - Airbus said on Tuesday it had uncovered inaccuracies in its filings to U.S. regulators over arms technology sales, drawing the United States for the first time into a scandal over alleged misconduct at Europe's largest aerospace firm. Airbus also warned about potentially significant fines resulting from existing bribery investigations in Britain and France over the use of middlemen in civil airplane sales, which have triggered a sweeping internal investigation. But it said it was too early to guess the size or timing of any European penalties, or the outcome of the new U.S. findings. Shares in the defence and civil aviation group rose more than four percent after it posted a smaller than expected drop in third-quarter profits despite jetliner delivery delays. However the gains were overshadowed by news that Airbus had itself unearthed inaccuracies in past filings to the State Department on defence technology exports. These involved inaccurate statements made by Airbus under a section of the U.S. International Traffic in Arms Regulations (ITAR), which governs the use of commissions and agents. Airbus said the flaws were first discovered during an audit at the end of 2016 and were confirmed in an internal follow-up review completed in the third quarter. Finance Director Harald Wilhelm said the European company had not disclosed any secrets about U.S. technology and that the issue was restricted to the use of sales agents and commissions, governed under part 130 of the ITAR rules. It is separate from investigations into the use of agents in commercial airplane sales, which are not subject to the same U.S. controls as weapons exports, but do have some U.S. restrictions over the use of advanced navigation technology. "This is about defence equipment and services related to it," Wilhelm told reporters. CO-OPERATION Wilhelm declined to say whether the latest disclosure could lead to an investigation by the U.S. Department of Justice, which has so far stayed out of the European bribery probes. The DOJ shares jurisdiction for ITAR rules with the State Dept where criminal activity is suspected. A person familiar with the latest case said it involved inaccuracies over both names of agents and amounts paid. That echoes inaccuracies in applications for UK export aid which triggered the separate UK and French probes, but the now-disbanded headquarters team at the centre of those accusations was not involved in the U.S. ITAR process, sources said. Airbus hopes that by self-reporting and co-operating fully with the European probes it can qualify for a deal similar to a $680 million settlement granted to Rolls-Royce this year. Legal experts estimate Airbus faces fines in the billions because of the scale of suspect paperwork dating back years. The cost of legal advice and running its own investigations pushed up headquarters cost sharply in the third quarter. The world's second largest planemaker after Boeing, posted third-quarter core operating earnings of 697 million euros ($811 million), down 4 percent on lower plane deliveries. It took a further small charge for the troubled A400M military project and warned of further costs later this year. It reaffirmed its 2017 guidance but acknowledged it would miss an informal goal of 720 jet deliveries that was higher than the official target of 700. Airbus has given different written and verbal delivery targets for several quarters in a row. The shortfall is chiefly the result of engine delays for the A320neo. Airbus now expects to deliver fewer than 200 of the aircraft this year, compared with a target of "around 200". Markets had expected a weak quarter due to delays in commercial aircraft and a build-up of inventory. Analysts on average expected third-quarter adjusted operating profit down 5.6 percent at 690 million euros on revenues up 1.8 percent at 14.2 billion, according to a Reuters survey. ($1 = 0.8595 euros) (Reporting by Tim Hepher and Cyril Altmeyer; Editing by Sudip Kar-Gupta and Mark Potter) SEARCH talking point on sify news Latest Features

Sri Lanka says keen for early conclusion of China trade deal

Tuesday, October 31 2017

Sri Lanka says keen for early conclusion of China trade deal

Sri Lanka says keen for early conclusion of China trade deal Sri Lanka says keen for early conclusion of China trade deal 18:00 hrs BEIJING, Oct 31 (Reuters) - Sri Lanka is keen to reach agreement soon on a free trade deal with China, its foreign minister said on Tuesday, describing Beijing as a close friend and ally, despite strong local opposition to some major Chinese-invested schemes. In July, Sri Lanka signed a long-delayed $1.1 billion deal to lease its southern Hambantota port to China, ignoring an appeal by opposition parties to debate the pact in parliament. The $1.5-billion port, close to the main shipping route from Asia to Europe and likely to play a key role in China's "Belt and Road" initiative, has been mired in controversy since a Chinese firm agreed to take an 80 percent stake in it. The pact signed last year sparked widespread public anger, as Chinese control of the port, which included a plan for a 99-year lease of 15,000 acres (23 sq miles) to develop an adjacent industrial zone, provoked fears it could be used by Chinese naval vessels. Sri Lanka Foreign Minister Tilak Marapana told a reception in Beijing to mark the 60th anniversary of establishing diplomatic ties that the two countries' friendship went back centuries. "Sri Lanka is very keen to reach an early conclusion to the free trade agreement with China in the near future that would expand more trade avenues for both countries," Marapana said. "China has been a reliable and important partner in our drive towards economic development and Sri Lanka is appreciative of the country's commitment and assistance," he added, without mentioning any specific projects. As one of the first countries to help in Sri Lanka's post-war reconstruction after the 2009 end of its 26-year civil war, China's ties with Sri Lanka have unnerved India, traditionally the island nation's most important partner. By 2014, Chinese navy submarines were also docking in Colombo, raising alarm in New Delhi and prompting a push by the administration of Prime Minister Narendra Modi to claw back influence in the region. "Sri Lanka is deeply appreciative of China for being a true and trusted friend and ally during our times of need," Marapana said. (Reporting by Ben Blanchard; Editing by Sanjeev Miglani) SEARCH

Equity indices close flat as investors book profits

Tuesday, October 31 2017

Equity indices close flat as investors book profits

Equity indices close flat as investors book profits Equity indices close flat as investors book profits Source : Last 16:50 hrs Key Indian equity indices provisionally closed on a flat-to-negative note on Tuesday as investors booked profits in metals, automobile and IT stocks. The broader Nifty50 of the National Stock Exchange (NSE) provisionally closed (at 3.30 p.m.) lower by 24.45 points, or 0.24 per cent, at 10,339.20 points. The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,254.93 points, closed at 33,213.13 points -- down 53.03 points or 0.16 per cent -- from Monday's close at 33,266.16 points. The Sensex touched a high of 33,294.30 points and a low of 33,164.28 points during the intra-day trade. However, the BSE market breadth was bullish -- 1,400 advances and 1,323 declines. On Monday, the key indices scaled fresh highs -- both on closing as well as intra-day basis -- on hopes of better quarterly results, coupled with a strong rupee and healthy buying in consumer durables, automobile and oil and gas stocks. The Sensex closed at a fresh high of 33,266.16 points, after touching a record high of 33,340.17 points intra-day. The broader Nifty50, which touched an intra-day record high of 10,384.50 points, closed at a new high of 10,363.65 points. SEARCH

Pidi, when will Rahul Gandhi become the Congress President?

Tuesday, October 31 2017

Pidi, when will Rahul Gandhi become the Congress President?

Pidi, when will Rahul Gandhi become the Congress President? Pidi, when will Rahul Gandhi become the Congress President? Comments Pidi, the voice behind master Rahul! Congress Vice President Rahul Gandhi on Sunday took on his detractors who have been wondering as to whether his tweets are his own, through a video of his pet dog. People have been asking who tweets for this guy (Rahul Gandhi). I'm coming clean, it is me Pidi... I'm way cooler than him, read the post which shows a video of Pidi (the dog) doing some antics and gobbling a biscuit after balancing it on his muzzle. Recently, Rahul Gandhi's Twitter handle got more than one million new followers between July and September this year, according to reports. Cartoon: Satish Acharya