Mukesh Ambani-owned Reliance Industries (RIL), the largest private oil refiner and retail giant in India has registered a 7.4 per cent growth in profit at Rs 4122 crore in the second quarter, as compared to Rs 3837 crore for the quarter ended September 30, 2007.
While company's second quarter revenue rose 39.40% to Rs 44,938 crore in the three-month period ended September 30, against Rs 32,211 crore in the year-ago period.
New York - Goldman Sachs Group Inc plans to slash its workforce by about 10 per cent - or about 3,300 jobs - as a consequence of the financial crisis, reported the Wall Street Journal in its Thursd
Singapore - Singapore Exchange Limited (SGX) and Karachi Stock Exchange (KSE) have signed a memorandum of understanding (MoU) to collaborate for the benefit of the financial services industries in Singapore and Pakistan, officials said Thursday.
The MOU aims to foster a closer relationship between the two exchanges.
The pact, which was signed in Singapore on Wednesday, includes sharing best practices regarding each exchange's products as well as the operation and governance of their respective markets.
"This MoU fosters a closer relationship between the two exchanges. We look forward to working with KSE to help develop our respective financial markets," said SGX chief executive officer Hsieh Fu Hua.
Singapore - Singapore shares came under another round of selling pressure Thursday, mostly in line with the downward trend among other Asian bourses.
The Straits Times Index (STI) fell by 75.46 points, or 4.14 per cent to close at 1745.67, with 341 counters reporting losses and 149 gains.
The STI was down by over 68 points at mid-day, with early morning trade nose-diving. However, trading was more somber from late morning through to the rest of the day.
Thursday's selling was in line with what has been happening at the regional bourses and the continuing reaction of the global financial and economic crisis, said Nancy Wei, head of research at brokerage UOB Kay Hian Pte Ltd.
Hong Kong - The benchmark Hang Seng Index dropped below 14,000 to close 3.55 per cent down at 13,760.49 Thursday after a roller-coaster trading session which saw the index fall more than 6 per cent in morning trade.
The index recovered to punch above 14,000 in early afternoon trade before the gains were lost and the index ended the day 506 points down.
Turnover was 56.46 billion Hong Kong dollars (7.23 billion US dollars).
Analysts said Hong Kong stocks were adversely affected by weak corporate earnings, with Chinese companies especially affected.
Tokyo - Asia-Pacific stocks took dives Thursday amid bearish sentiment triggered by Wall Street's sharp overnight losses as well as a dismal global and regional economic outlook.
The market in the region's largest economy, Japan, also dipped as a stronger yen dimmed sales prospects among the country's export-oriented manufacturers.
The Nikkei 225 Stock Average fell 2.46 per cent to close at 8,460.98. The benchmark index recovered significant ground after losing more than 7 per cent in morning trading and hitting a five-year low.
The broader Topix index of all first-section issues also fell 1.97 per cent to 871.7.
Mukesh Ambani-owned Reliance Industries (RIL), the largest private oil refiner and retail giant in India has registered a 7.4 per cent growth in profit at Rs 4122 crore in the second quarter, as compared to Rs 3837 crore for the quarter ended September 30, 2007.
