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Tag: seeks

New sectors taking charge as market seeks to rebound

New sectors taking charge as market seeks to rebound

Finance
NEW DELHI: Even though the benchmark indices have largely recovered from their Januray lows, most sectors that led the charts between February 2016 and January 2018 – the phase during which Sensex rallied 58 per cent to 36,450 from 23,000 –are not finding favour with investors. They are now ruling at the bottom of the performance charts, making way for a comeback by those sectors which missed the earlier rally, data showed. The BSE Realty index has fallen 22 per cent since January, emerging best performer among all sectors between February 2016 and January 2018 with a 154 per cent surge. PSU stocks, too, have gone off investor radar. The BSE PSU index has slipped 21 per cent in the recent fall, compared with a 65 per cent rise over the preceding 29 months. The BSE Metal index, the third b
Ex-Bank of America exec claims wrongful termination, defamation and seeks at least $20 million

Ex-Bank of America exec claims wrongful termination, defamation and seeks at least $20 million

Finance
It began as an ordinary night for six Bank of America employees, who were out to celebrate the holidays. In mid-December, the members of the firm’s prime brokerage — a division that caters to hedge funds — had gathered at an intimate Lower East Side lounge called Et Al after leaving the team’s gift-exchange party around the corner. They danced, drank and mingled with the club’s dozens of other patrons. Within weeks, Omeed Malik, the most senior of the bank's employees at the impromptu event, left Bank of America. Soon after, media reports indicated the bank had investigated an accusation of inap...
Turkey election: Erdogan seeks second term in hard-fought contest

Turkey election: Erdogan seeks second term in hard-fought contest

World
Media playback is unsupported on your device Turkish voters are going to the polls to decide whether to grant President Recep Tayyip Erdogan a second five-year term, in the most fiercely fought elections in the country in years.Polls opened at 08:00 (05:00 GMT) in presidential and parliamentary votes.If Mr Erdogan wins, he will adopt major new powers that critics say will weaken democratic rule.But he faces a major challenge from centre-left candidate Muharrem Ince of the Republican People's Party (CHP).Turkey remains under a state of emergency imposed in the aftermath of a failed coup in July 2016. These elections were originally scheduled for November 2019 but were brought forward by Mr Erdogan.What do the candidates say about each other?Mr ...
RBI seeks update on payments data storage every fortnight

RBI seeks update on payments data storage every fortnight

Finance
NEW DELHI: Amid concern around data security, the Reserve Bank of India is learnt to have asked payment services firms to provide an update on action taken by them to store transaction data in the country in every fortnight. "You are hereby advised to inform the status of ensuring compliance...The same shall be submitted by June 8, 2018, followed by an update on progress at fortnightly intervals thereafter," the RBI said in the letter referring to its order dated April 6, 2018. A payment bank official on the condition of anonymity confirmed receipt of the RBI letter. According to the order issued on April 6, all payment system providers including payments bank, payment gateways are required to ensure that full end-to-end transaction details relating to payment systems operated by them a...
Trump seeks to save Chinese jobs at ZTE ahead of trade talks

Trump seeks to save Chinese jobs at ZTE ahead of trade talks

Technology
China has welcomed a pledge from Donald Trump to help save ZTE, one of China's biggest telecoms companies. The firm has suspended operations after the US last month banned American companies from selling it components. ZTE had admitted to making illegal shipments to Iran and North Korea.But Mr Trump has now tweeted he will work with President Xi to help ZTE get "back into business fast", saying too many jobs in China were at risk.China's called the comments "positive". "We greatly appreciate the positive position of the US on the ZTE issue and are in close communication with the US on the details of the issue," foreign ministry spokesman Lu Kang said.US commentators say the tone of the tweet is a dramatic shift for Mr Trump, who has consistently accused C...