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Business

    Financial stocks lead broad Wall Street rally

    New York, May 19 (DPA) US stocks rose across the board Monday led by financial listings and a strong performance by home improvement retailer Lowe’s, restoring some of the losses from late last week.

    Bank of America rallied 9.9 percent after analysts recommended the embattled company for its progress in raising capital and for finishing another “solid” quarter in the mortgage and capital markets businesses. Government regulators have urged Bank of America to raise $33.9 billion to weather up to two years of recession.


    UN warns of massive displacement in Pakistan

    Geneva, May 19 (DPA) With over two million people now displaced in Pakistan owing to fighting in the North West Frontier Province, the UN warned Monday that the crisis could be one of the worst in years.

    The displacement was “one of the most dramatic of recent times”, said Ron Redmond, a spokesman for the UN’s Refugee Agency (UNHCR).

Indian ADRs surge on Wall Street after rally at home

May 18th, 2009 | By Sindh Today | Category: Business, UnCat

New York, May 18 (IANS) Indian shares listed on American bourses climbed in early market trade Monday spurred by historic market rally in India after the Congress-led alliance’s victory in the parliamentary polls.

Among the 16 Indian stocks listed as American Depository Receipts (ADRs), Tata Motors rose by 27 percent to $9.68, ICICI Bank rose more than 29 percent to $30.15 and Infosys Technologies gained 15.3 percent to $36.95.



Delhi sizzles at 43 degree Celsius (Lead)

May 18th, 2009 | By Sindh Today | Category: Business, UnCat

New Delhi, May 18 (IANS) Delhiites continued to reel under scorching heat with the day temperature soaring to 43 degree Celsius and the weatherman declaring heat wave conditions in the capital Monday.

The maximum temperature shot up to 43 degree Celsius, which was two degree above the normal for this time of the season while the minimum temperature settled at 30.2 degree Celsius, three notches above normal.



Mamata demands Buddha’s resignation

May 18th, 2009 | By Sindh Today | Category: Business, UnCat

Kolkata, May 18 (IANS) After handing West Bengal’s ruling Left an electoral drubbing, Trinamool Congress chief Mamata Banerjee Monday demanded the resignation of Chief Minister Buddhadeb Bhattacharjee, saying it was democratic ethics to respect and accept the people’s verdict.

“The Left is left out from the people. They have lost credibility,” Banerjee said when asked to comment on speculation that Bhattacharjee had offered to resign after the ruling Left Front’s poor showing in the Lok Sabha polls.



Delhi assembly’s budget session from June 15

May 18th, 2009 | By Sindh Today | Category: Business, UnCat

New Delhi, May 18 (IANS) The Delhi Legislative Assembly’s budget session would start from June 15 and end July 1, Chief Minister Shiela Dikshit said Monday.

The state cabinet Monday recommended to Lieutenant Governor Tejendra Khanna to summon the budget session of the fourth legislative assembly from June 15.



UK India Business Council welcomes election result

May 18th, 2009 | By Sindh Today | Category: Business, UnCat

London, May 18 (IANS) The UK India Business Council Monday welcomed the outcome of the Indian elections, saying it bodes well for the Indian economy.

“The markets have given their verdict - a 17 percent increase in stock prices today,” the group said in a statement.



‘Angels and Demons’ to be released in four languages May 29

May 18th, 2009 | By Sindh Today | Category: Business, UnCat

New Delhi, May 18 (IANS) Tom Hanks-starrer “Angels and Demons”, which is currently on the top spot at the US box office, will release in India May 29 in four languages - English, Hindi, Tamil and Telugu.

The much-anticipated movie, which is an adaptation of Dan Brown’s religious-mystery book by the same name, is a prequel to “The Da Vinci Code”.



RBI Governor advises banks to invest in newer technologies

May 18th, 2009 | By Sindh Today | Category: Business, UnCat

Hyderabad, May 18 (ANI): To meet the demands of households and businesses, Reserve Bank of India Governor Duvvuri Subbarao on Monday advised banks to invest in newer technologies.



New nonviolent group should replace LTTE: Diaspora leader (Exclusive)

May 18th, 2009 | By Sindh Today | Category: Business, UnCat

London, May 18 (IANS) A new democratically-minded and nonviolent group is needed to win the aspirations of Tamils in Sri Lanka following the defeat of the LTTE, a leading member of the Tamil diaspora in Britain said Monday.