Oil’s advance to the highest since 2014 is squeezing the carry-trade returns on the Indian rupee to a point where they are the worst in Asia.

While the nation’s nominal yields are the second-highest in Asia, rupee weakness is making the trade unprofitable. Borrowing in dollars to invest in India would yield a negative 3 per cent for the year so far, according to data compiled by Bloomberg. That trade garnered a carry return of 12 per cent in 2017.

The first good thing about that the entire development is that it brings the equity derivative market in line with the commodity derivative market. Both markets will now have similar trading hours, which will reduce systemic risk in the markets.

The second aspect, the extension of trading hours will result in providing a hedging facility to portfolio investors. Today, this facility is denied particularly at a time when global news drives markets.

Berkshire Hathaway bought 75 million additional Apple shares in the first three months of the year, Chief Executive Officer Warren Buffett told CNBC on Thursday, aggressively ramping up its bets on the iPhone maker.

Buffett's Apple commitment over the past two years has surprised many, given his historical aversion to companies associated with the technology sector.

NASA on May 5 blasted off its latest Mars lander, InSight, designed to perch on the surface and listen for “Marsquakes” ahead of eventual human missions to explore the Red Planet.

“Three, two, one, liftoff!” said a NASA commentator as the spacecraft launched on a dark, foggy morning atop an Atlas V rocket at 4.05 a.m. Pacific time (4.35 p.m. IST) from Vandenberg Air Force Base in California, marking NASA’s first interplanetary launch from the U.S. west coast.

Union Minister Nitin Gadkari today said his ministry has accorded permission to auto makers Bajaj and TVS for making vehicles that run using 100 per cent bio-ethanol made out of rice and wheat straw.

"I told the managements of Bajaj and TVS to make ethanol based bike and auto rickshaws.

A Court in Coimbatore, Tamil Nadu has issued an order against ICICI Bank in a matter involving a set of option contracts submitted by a hosiery garments exporter.

Freelook Fashions, a company that manufactures and exports hosiery garments to United Kingdom and Ireland, had moved the Court to declare eight option contracts that it entered with the bank as void and unenforceable.

India's second largest software services company Infosys today said its CEO Salil Parekh will receive an annual performance equity grant worth Rs 13 crore.

Parekh had joined the Bengaluru-based company in January this year after a protracted stand-off ensued between Infosys founders led by NR Narayana Murthy and the previous management over issues of corporate governance and compensation to former executives.

Mumbai: The Indian rupee on Friday weakened against the US dollar after local equity markets fell for the second session.

The home currency closed at 66.87 against US dollar, down 0.34% from its Thursday’s close of 66.65. The rupee opened at 66.63 a dollar and touched a low of 66.92.

Centre for Asia Pacific Aviation (CAPA), a leading aviation consultancy, has asked the central government, to make Air India divestment offer attractive to investors or be ready to see the national carrier closing down. In a series of tweets on 4 May, CAPA has said that the debt-ridden national carrier may head for two year loss of $1.5 to billion.

FDs maturing between one year and 14 months will also yield 7.1%, 35 basis points (bps) higher than earlier. All deposits of under Rs 1 crore with longer maturities will earn 7%. The 14 months to 17 months bucket was earlier priced at 6.75%, while all maturities ranging between 17 months and 10 years earlier yielded 6.9%.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.