Business

Asian stocks will likely climb on Thursday after the S&P 500 and Nasdaq rallied to fresh records on upbeat corporate results, while the dollar eased a day before the U.S. Federal Reserve possibly sets a new course on inflation.

Addressing a Assocham webinar on the housing sector, he said the Centre would encourage states/Union Territories to adopt this model law. He hoped that they would pass necessary legislations over the next one year.

Radiation therapy equipment maker Elekta on Wednesday reported a big jump in profit in its first quarter even though sales fell because of the COVID19 pandemic.

Mining operations at Indonesia's Grasberg gold and copper mine have been disrupted as protests by workers over coronavirus restrictions extended into a third day at the mine operated by a unit of FreeportMcMoran Inc.

Major international banks may still pay out big bonuses to high flyers this year even as the pandemic saps the global economy, as fears of losing talent to rivals during a trading boom trump worries of a big compensation bill.

Asian stock were set for a choppy session on Wednesday, following a mixed Wall Street lead as markets cheered signs of progress in U.S.Sino trade negotiations but remained cautious about the broader economic outlook.

The S&P 500 edged higher on Tuesday, with a drop in Apple stock capping gains from positive developments in U.S.China trade and fresh progress in the medical battle against the coronavirus pandemic.

Top U.S. and Chinese trade officials reaffirmed their commitment to a Phase 1 trade deal and discussed how to increase lagging Chinese purchases of American goods, lending support to financial markets on Tuesday.

This is the fourth extension for putting in bids. The government said the deadline has been extended in view of the request received from interested bidders in view of the prevailing situation arising out of COVID-19.

U.S. consumer confidence dropped to a more than sixyear low in August as households worried about the labor market and incomes, casting doubts on the sustainability of the economy's recovery from the COVID19 pandemic.

Sales of new homes jumped again in July, rising 13.9% as the housing market continues to gain traction following a spring downturn caused by pandemicrelated lockdowns.

RBI said dynamic stochastic general equilibrium (DSGE) model built on New Keynesian foundations provides a tentative and proximate assessment of the likely impact of COVID-19 and the subsequent lockdown on the economy.

India's Tata Motors Ltd will significantly reduce its group automotive debt of 480 billion rupees ($6.4 billion) over the next three years, the company's chairman said during its annual shareholder meeting on Tuesday.

German business morale improved more than expected in August as both manufacturing and services picked up steam, a survey showed on Tuesday, boosting hopes that Europe's largest economy is set for a strong recovery following the massive coronavirus shock.

European shares opened higher on Tuesday, with market sentiment propped up by the United States and China saying they are still committed to their Phase One trade deal, and some increased optimism around COVID19 vaccine development.

Renewed confidence in a SinoU.S. trade deal after talks between the countries helped lift most Asian stocks on Tuesday, as did fresh vaccine hopes for a coronavirus vaccine, which boosted broader sentiment.