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Oil prices rebound in Asian trade
SINGAPORE: Oil prices rose in Asian trade Tuesday on bargain hunting after hitting multi-week lows, analysts said.
New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in April added 20 cents to $90.32 a barrel in the afternoon and Brent North Sea crude for April delivery increased 46 cents to $110.55.
"We are seeing some bargain hunting after Brent and WTI ... |
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Spain sees renewed investor confidence: Minister
MADRID: Foreign investors will regain their confidence in Spain this year, while the country's nationalized banks will start repaying the funds they received, Spanish Economy Minister Luis de Guindos said.
"The future looks much better than it did a year ago," De Guindos told EFE in an interview. "The Spanish economy's foundation is solid."
If the doubts about the euro's survival continue to... |
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Yahoo axes ‘unsuccessful’ BlackBerry app
LONDON: Yahoo has axed a number of unsuccessful products, including its mobile app for BlackBerry smartphones.
The product shutdowns that was announced on Yahoo’s website, are part of what the company said are regular efforts to evaluate and review its product line-up.
According to the Telegraph, Yahoo said its app for BlackBerry smartphones would no longer be available for download, or supp... |
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Sensex falls for 5th staright week; closes below 19,000-level
NEW DELHI: India's stock markets ended lower for a fifth consecutive week after the Budget 2013 on Thursday disappointed investors by financing increased revenues in part by raising taxes on some companies and high-earners.
he BSE benchmark Sensex fell below the psychological 19,000 mark during the week. Indian stocks fell in two out of five trading sessions in the week ended Friday, 1 March 20... |
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Gold closes down by Rs 165 to Rs 29,985 per 10 gm
NEW DELHI: Gold and silver fell further in the national capital Friday on heavy selling by stockists in tune with a weakening global trend.
While gold fell by Rs 165 to Rs 29,985 per ten grams, silver lost Rs 515 to Rs 54,750 per kg on poor demand and heavy selling by stockists.
Traders said selling by stockists in tandem with a weakening global trend influenced the sentiment.
In New York... |
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Spending cuts to hit US economy, weaken global economy: Obama
WASHINGTON: US President Barack Obama has cautioned that the looming automatic spending cuts or sequestration beginning March 1 will badly hit the country's economy and weaken the global economy.
"This is going to be a big hit on the economy," Obama said in his address to the Business Council on Wednesday night ahead of the so called sequester that will trigger a USD 85 billion in spending cuts... |
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JPMorgan to cut up to 17,000 jobs by end of next year
NEW YORK: JPMorgan Chase & Co has plans to cut 17,000 jobs by the end of 2014, a news wire has reported.
The bank is optimistic that it can generate record income this year and is planning to add 4,000 employees in commercial and investment banking and credit cards to help it win business, bank executives said at an investor conference.
That hiring will be more than offset by job cuts in are... |
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Credit cards segment estimated to grow this year: Report
MUMBAI: The credit card segment in the country is estimated to have grown for the first time this fiscal after witnessing sluggishness for four years, says a report by the electronic transactions provider Atos Worldline.
"The credit cards segment in the country witnessed a growth this year after a four-year period of sluggishness," the report said, adding, there has been an uptick in issuance f... |
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UK to stick to economic policies despite loss of AAA credit rati
LONDON: UK Chancellor of the Exchequer George Osborne has vowed to stick to the government’s economic plans even after Britain lost its cherished AAA credit rating amid concern about weak growth and rising debt.
Moody’s, one of the biggest global credit ratings agencies downgraded Britain.
The agency said it had acted because of “continuing weakness in the UK''s medium-term growth outlook”, ... |
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Reports of negligence in MCA 21 project 'misguided': Infosys
NEW DELHI: Infosys, which was awarded the contract for developing and maintaining the website of Ministry of Corporate Affairs (MCA), Friday said it has fulfilled its obligations and any reports of negligence were "misguided".
Earlier this week, MCA had asked rival Tata Consultancy Services for temporary assistance to resolve glitches related to the electronic filing system MCA 21 -- currently ... |
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