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Stocks dip, bonds fall as CPI keeps Fed on course
22 May 2015 at 12:28pm
NEW YORK (Reuters) - Global equity markets dipped but remained near record highs on Friday after Federal Reserve Chair Janet Yellen said she expected interest rates to rise this year, a view that lifted bond yields and was bolstered by rising core consumer prices.
Fed on track to hike rates as economic headwinds wane - Yellen
22 May 2015 at 12:26pm
PROVIDENCE, R.I. (Reuters) - Federal Reserve Chair Janet Yellen was clearer than ever on Friday that the central bank was poised to raise interest rates this year, as the U.S. economy was set to bounce back from an early-year slump and as headwinds at home and abroad waned.
Germany, France usher Greece back to negotiating table
22 May 2015 at 12:07pm
RIGA (Reuters) - European leaders told Greece on Friday to return to the negotiating table for "intensive work" to wrap up a reform agreement before cash runs out, sidestepping Athens' demand for a comprehensive, long-term solution to its troubles.
India has built up defences vs volatile capital flows - RBI's Rajan
22 May 2015 at 7:13am
CHENNAI (Reuters) - Reserve Bank of India Governor Raghuram Rajan said on Friday the country has built up layers of defences against volatile capital flows in financial markets by building up its foreign exchange reserves, improving its economy, and focusing on economic growth.
India plans new oil subsidy rules to push ONGC stake sale
22 May 2015 at 6:31am
NEW DELHI (Reuters) - India plans to reform rules governing the level of discounts upstream state oil firms including ONGC offer to retailers, a senior finance ministry official said on Friday, a move that could expedite the sale of a stake in the company.
India's top bank SBI says bad loan pressure easing
22 May 2015 at 5:53am
MUMBAI/KOLKATA (Reuters) - State Bank of India, the nation's top lender by assets, posted better-than-expected quarterly bad debt levels on Friday and said it now expected an improvement, a long-awaited sign of easing pressure that helped its shares jump over five percent.
EU regulator confirms recommendation to suspend drugs over flawed studies
22 May 2015 at 5:19am
(Reuters) - The European Medicines Agency confirmed on Friday its recommendation to suspend a number of medicines that were granted EU approval based on clinical studies conducted at Indian firm GVK Biosciences' facility in Hyderabad, India.
Gold demand slows as China eyes equities; lack of weddings in India weighs
22 May 2015 at 4:33am
SINGAPORE (Reuters) - Gold buying was slow this week in Asia even as global benchmark prices dropped from a three-month high, with the Chinese hooked on surging equities while demand in India stayed weak and was unlikely to pick up as the wedding season cools.
Cigarette maker ITC misses profit estimates
22 May 2015 at 4:09am
REUTERS - ITC Ltd, India's largest cigarette maker, reported a lower-than-expected quarterly profit as higher taxes on smokes and a government push to discourage tobacco consumption hurt business.
Stock markets end higher; SBI gives up gains on profit-booking
22 May 2015 at 3:55am
MUMBAI (Reuters) - India's stock markets rose around 0.5 percent to a five-week closing high, tracking higher Asian markets as weak U.S. economic data bolstered expectations that a U.S. interest rate hike would come only later in the year.
Jaitley promises better tax regime for companies
22 May 2015 at 3:31am
NEW DELHI (Reuters) - Finance Minister Arun Jaitley struck a conciliatory tone towards investors on Friday, promising to tax corporate profits at competitive rates and saying the government would do all in its power to implement a new goods and services tax (GST) on time.
Infosys founder to head India panel on startup funding platform
22 May 2015 at 3:03am
MUMBAI (Reuters) - The Securities and Exchange Board of India (SEBI) has named Infosys founder N.R. Narayana Murthy to head a panel that will devise rules for a new funding platform for homegrown start-ups, the regulator said on its website.
Brent crude oil steadies near $66 before long weekend
22 May 2015 at 2:56am
LONDON (Reuters) - Oil prices steadied on Friday as worries over the impact on crude supplies of war in the Middle East were balanced by reports of profit-taking ahead of a long weekend.
China, India likely to be biggest shareholders in AIIB
22 May 2015 at 2:48am
SINGAPORE (Reuters) - China is likely to hold a 25-30 percent stake in the new Asian Infrastructure Investment Bank (AIIB) while India will be the second-biggest shareholder, delegates said on Friday after a three-day meeting of the bank's founding member-nations.
Finance minister favours cut in interest rates
22 May 2015 at 12:43am
NEW DELHI (Reuters) - The time is right for the Reserve Bank of India (RBI) to cut interest rate due to falling inflation, the finance minister told reporters on Friday.