Ripples Advisory, Opening bell: Global markets drop on trade war fears; M&M, Union Bank in news
Mahindra, Ford to jointly develop electric vehicles, SUVs, while Birla is set to lead Vodafone-Idea combine’s leadership team
Equity markets slide on trade war fears
Asian markets dropped in morning trade, tracking losses in the US stocks. Overnight, US stocks slumped after US President Donald Trump announced tariffs on Chinese goods stoking fears of a trade war.
Meanwhile, oil prices rose, pushed up by Saudi statements that OPEC- and Russian-led production curbs may need to be extended into 2019, reports Reuters.
Domestic gas price set to hit two-year high
Consumers using natural gas are set to pay more from next month as the benchmark price for natural gas produced from domestic fields is expected to hit a two-year high during the revision due in April, reports The Times of India.
Union Bank of India latest to be hit by bank fraud
The Central Bureau of Investigation registered a Rs1,394.43 crore bank fraud case against Hyderabad-based Totem Infrastructure Ltd on a complaint by state-run Union Bank of India.
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