Higher slippages at IndusInd point to stress ahead
Friday, October 11, 2019, 3:56 PM
More bad news was in store on Thursday for investors of IndusInd Bank, which had recently witnessed a sharp fall in its price amid growing turmoil in the housing-finance-market. The lender reported lower-than-expected net profit of Rs.1,401-crore for the second-quarter, even as bad assets rose and profit declined 2%. In addition, the bank's management hinted that the slowdown may continue for a few quarters.
US-China trade war weakening demand for oil
Saturday, August 10, 2019, 8:52 PM
The trade war between the US and China and a broader decline in world economic growth are weakening the demand for oil and pushing prices down, the International Energy Agency said on Friday. The Paris-based agency cut its forecast for oil demand growth this year and next as trade tensions weigh on activity in the energy-hungry manufacturing sectors around the world.