Business

The unanimous vote the Fed's rate-setting Federal Open Market Committee brings the federal funds rate to a range of 1.75-2.0 percent, and indicated there would be two more rate increases this year and four next, one more than previously expected.

The leading FMCG firm has been given June 15 deadline by the Union Food Processing Ministry to meet the conditions required to get the final approval for setting up of the proposed park.

The scam-hit bank said PNB HK is required to maintain high quality liquid assets (HQLA) in Hong Kong equivalent to 100 per cent of unpledged deposits.

ZTE, a Chinese telecommunication equipment makers company, was set to lose 38 per cent of its Hon Kong shares after it agreed to pay the penalties to the US.

Major currencies were mostly weak against the US dollar overseas as a historic US-North Korea summit got underway in Singapore.

As the RBI regulated guidelines for early identification of stressed assets , SBI is all set to auction NPA's that standing over Rs 2.23 lakh crore.

Dealers said besides fresh selling of dollar by exporters, dollar's weakness against some currencies overseas amid lingering concerns about global trade supported the rupee.

Forex dealers said, besides increased selling of the American currency by exporters as well as banks, a higher opening in the domestic equity market supported the rupee.

One trigger after another has led to the 10th consecutive day of increase in retail selling price of petrol and diesel, but there is no case for going back on benchmarking domestic rates against international prices, he said.

Demonstrations against the copper plant, one of India's biggest, have been going on for more than three months, with protesters alleging that it is a major source of pollution and risk to fisheries.

The move by SoftBank ends nearly two weeks of suspense over whether the Japanese telecom and Internet powerhouse would exit or stay invested in Flipkart post the deal with Walmart.

Overseas, most Asian shares were trading higher, tracking strong closing in the US market overnight as investors applauded easing of trade tensions between the US and China, traders said.

The Board of Directors of UltraTech Cement, at its meeting held on Sunday, approved a scheme of arrangement amongst Century Textiles and Industries and its respective shareholders and creditors, the Aditya Birla Group firm said in a statement.

The Solar Power Developers Association had written to the Ministry of New and Renewable (MNRE) to extend solar auctions till the issue related to grant of connectivity through inter-state transmission system is not resolved.

The BPCL plant costing Rs 103 crore will be located at Barkhani, BPCL Regional Manager (East) Atul Kumar said.

Bhushan Steel, which was among a dozen companies pushed to bankruptcy court last year amid a government drive to clear a mountain of bad loans choking credit at Indian banks, has an annual steel-making capacity of about 5.6 million tonnes.