Industry News

Asian Paints Ltd on Thursday hit a record high, gaining in nine out of 11 trading sessions, after most broking houses increased their target price on the stock as the company posted better-than-expected earnings. The stock touched an all-time high of Rs.1, 152.65 a share and gained as much as 8.56%, its maximum gain since 21 October 2013. So far this year, it has gained 29%."/>
Asian Paints shares hit record high [Mint, New Delhi]
Citigroup Global Markets Funding Luxembourg today announces the launch of an offering of exchangeable bonds due 2023, exchangeable for ordinary shares of Telekom Austria AG in an aggregate principal amount of up to approximately EUR..."/>
Citi Launches Offering of Bonds Due 2023, Exchangeable for Shares of Telekom Austria AG
Nasdaq BWise, a global leader in enterprise Governance, Risk Management and Compliance, announced today that it has been selected by Dubai Islamic Bank, the largest Islamic bank in the United Arab Emirates, to support and further enhance their risk management, compliance and internal control processes gaining a deeper and more real-time visibility into their risks and overarching control frameworks.. “We were searching for an..."/>
Nasdaq BWise GRC Platform Selected by Dubai Islamic Bank for Risk, Compliance and Internal Control
VIDEO: BNP Paribas - Q2 2016 Results
Consistent performance from HDFC [Mint, New Delhi]
HSBC Holdings Plc.. India needs to generate a total of 80 million jobs by 2025, double that in the last 10 years. Taking into account both demand and supply of jobs, existing labour-intensive sectors like agriculture and services may not be able to meet..."/>
Flipkarts of India to help create 'missing jobs': HSBC report [Mint, New Delhi]
State Bank of India, the country's largest lender, to not spend 2% of its profit on CSR till the stress in the financial sector eases, according to the bank's chief executive. "We are a statutory corporation and as a result we have to take RBI's consent to be able to meet 2%."/>
RBI asked SBI to rein in CSR spending: Arundhati Bhattacharya [Mint, New Delhi]
Yes Bank Ltd's fiscal first-quarter profit rose 33% from a year ago on higher net interest income and other income. Net profit rose to Rs.731.80 crore in the three months ended on 30 June from Rs.551.20 crore a year ago. That beat the average profit estimate of Rs.700.40 crore based on a survey of 21 analysts by Bloomberg."/>
Yes Bank Q1 profit rises 32% to Rs731 crore [Mint, New Delhi]
Bank of India on Wednesday said it has penalized 13 banks in response to a foreign exchange scam that took place in October. "This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the bank and its customers," the central bank said in a statement on its website. The 13 banks include Allahabad Bank, Bank of India, Bank of Baroda, Canara Bank, Corporation..."/>
RBI penalizes 13 banks in foreign exchange scam [Mint, New Delhi]
Legg Mason reported Wednesday a profit of $33.5 million in the first quarter of its fiscal year 2017, bouncing back after two consecutive quarters of losses. The Baltimore money manager's first-quarter earnings are down, however, from the $94.5 million it earned in the same April-to-June quarter last year. Legg's per share earnings fell to 31 cents from 84 cents a year earlier."/>
Legg Mason reports $33.5 million profit for first quarter of fiscal 2017 [The Baltimore Sun]
Supervalu Inc. stumbled into summer as it contended with lower prices for staples like milk and eggs and intensifying competition with grocery store rivals. The Eden Prairie-based company on Wednesday reported lower across-the-board sales and a drop in net profit for the April-to-June period, and executives said they expected the difficulties to extend through the year. Supervalu shares fell 12.5 percent, the second-biggest drop this year after a 15- percent drop..."/>
Lower food prices add to challenges at Supervalu [Star Tribune (Minneapolis)]
Central Valley Community Bancorp, the parent company of Fresno's Central Valley Community Bank, was given regulatory approval to acquire Folsom-based Sierra Vista Bank on Wednesday. The required approval comes from the Federal Deposit Insurance Corp. and California Department of Business Oversight. The next steps toward the acquisition include a Sierra Vista Bank shareholder meeting in late August, which will preface the final transaction expected to close..."/>
BRIEF: Central Valley Community Bancorp approved to acquire Sierra Vista Bank [The Fresno Bee]
Mondelez, maker of iconic brands including Cadbury and Nabisco, will start selling its Milka brand chocolate in China in September, hoping to capture a slice of a still-small market the company believes is ripe for opportunity. Deerfield-based Mondelez already sells items from its biscuit and gum categories in China. Brands under those umbrellas include Oreo, Ritz and Trident."/>
Mondelez hopes for sweet success as it launches chocolate in China [Chicago Tribune]
CarMax subleased 4,591 square feet of retail space in Mountain West Bank at 4250 Fairview Ave. in Meridian. Holly Chetwood of Thornton Oliver Keller handled the transaction. Boise Hot Yoga opened a second location and leased 2,871 square feet of retail space in Shops at State& Bloom at 5600-5630 W. State St. in Boise."/>
Who's moving in Treasure Valley commercial real estate [The Idaho Statesman]
Bank of America branch that would be demolished and rebuilt on the ground floor of the Berkeley Place Hotel, which will have about 335 rooms..."/>
Berkeley: City Council gives developer $13 million break [East Bay Times]

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