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12:23
Tuesday
18
June 2019

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Markets

2,614.31 0.01%
Volume
96,048,890
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0.01%
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2,481
19
Up
4
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10
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4,901.07 -1.09%
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32,810,441
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-1.09%
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1,663
9
Up
3
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14
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BILDCO
0.4
RAK Cement
0.69
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0.46
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0.38
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0.79
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0.96
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0.64
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4.41
ADCB
8.2
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14.74
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4.35
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15.9
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0.33
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0.59
ADCB
8.2
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1.07
IT stocks underperform - Dotemirates

IT stocks underperform

Mumbai: IT stocks underperformed the borader market on Monday. In early trade, the IT index was the sole one trading in the red. However, the index ended in the green, by gaining 0.69 per cent to 15,515.99. Among the IT stocks, Infosys fell 0.19 per cent. Intraday, it was trading 2.34 per cent down.Other losers included L&T Infotech (-1.54 per cent), Tech Mahindra (-1.04 per cent) and Allsec Technologies (-0.79 per cent). In contrast, TCS bounced back to close 2.05 per cent up. Intraday, it was trading 2.19 per cent down. Analysts said the rising rupee would pressure IT stocks.The...


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12/06/2019

Netflix and Stan subscription revenue to jump 13.7pc in the next four years: PwC

By senior business correspondent Peter Ryan Traditional television might not be extinct just yet, but viewing habits are rapidly changing as time-poor consumers migrate to on-demand streaming services.Netflix and Stan are on track to easily outstrip free-to-air television and subscriptions to News Corporation's Foxtel, according to a report from advisory firm PriceWaterhouseCoopers (PwC).Increasingly popular streaming services are tipped to increase their subscription revenue by 13.7 per cent between 2019 and 2023.Foxtel, meanwhile, is expected to experience a 2.9 per cent drop in subscriber revenue during that period as the market continues to fragment.In the last year, streaming services have grown...
12/06/2019

Mortgage rate cuts not automatic for all borrowers at all banks

PM By business reporter David Taylor From now until the end of the month banks will be notifying their customers they have less to pay on their mortgage repayments.However, even if your bank has publicly promised to pass on this month's Reserve Bank rate cut, it may not automatically apply to you.A recent Australian Competition and Consumer Commission (ACCC) report found the customer experience often differs from what the banks appear to promise in their media releases.Consumer advocates are urging borrowers to call their bank manager to ask whether or not they are entitled to a rate cut and, if...
12/06/2019

Consumer confidence tumbles after the Reserve Bank cuts rates

By business reporter Stephen Letts If the Reserve Bank had hoped to fire up the economic engine room of consumer spending with a rate cut last month, it will be sorely disappointed by the initial reaction.The 0.25-percentage-point cut sent consumer sentiment tumbling from net optimism to pessimism, according to the latest Westpac-Melbourne Institute survey."Responses over the survey week show a marked drop-off after the Reserve Bank's official rate cut," Westpac's Matthew Hassan said. With 100 index points representing the breakeven point between optimism and pessimism, responses collected before the June 4 decision had a combined index read of 106.8. "Those...

Third-party car insurance prices to go up from June 16

The price hike will affect both new and existing car owners who are renewing their insurance policy. Price hike of Rs 222 (12 per cent) for cars displacing less than 1000cc. Price hike of Rs 358 (12.5 per cent) for 1000-1500cc cars. No change in third-party premium for cars displacing over 1500cc. The Insurance Regulatory and Development Authority of India (IRDAI) has decided to increase the price of third-party car insurance premium (private vehicles) from 16 June 2019. The increase in third-party insurance will affect both new car buyers and existing owners who are renewing their insurance cover. The third-party...

Next-gen Hyundai Elite i20 spotted testing

The third-gen Hyundai Elite i20 is likely to feature significant updates inside-out. It will be more feature-rich and could pack a sunroof too. Expect it to come with an eSIM for internet connectivity & more. Likely to equipped with the Venue’s 1.0-litre, 3-cylinder turbo-petrol engine. The all-new Hyundai Elite i20 is expected to debut at the 2020 Auto Expo. Keeping the rising competition (Toyota Glanza and the upcoming Tata Altroz) in mind, Hyundai seems to be readying the third generation version of its premium hatchback, the Elite i20. A fully camouflaged example of the vehicle was spotted undergoing tests near...
12/06/2019

Uber hurt by political 'market swirl' after IPO, CEO says

WASHINGTON — Uber chief executive Dara Khosrowshahi said Tuesday the company's slump following its share offering last month was due to a "market swirl" over tariffs that won't affect its long-term performance.Speaking at a Washington forum, Khosrowshahi said Uber remains focused on growth over the next several years but that he sees a road to profitability for the ride-hailing giant."We got caught up in a bit of a market swirl, and there's nothing you can do about that," Khosrowshahi said in an on-stage interview sponsored by the Economic Club of Washington.Khosrowshahi said the record drop after the initial public offering...