Home >Market >Stock-market-news >Opening Bell | Global growth forecast cut; markets across the region down

US stocks plunge, Asia opens lower

US markets closed sharply lower. Falling oil prices and concerns about economic growth sent the S&P 500 index down 1.3% to 1,990. Tracking the cues Asian markets opened lower.

World Bank cuts global growth forecast

Deeper slowdown in Brazil, Russia and weaker output in most of the world’s biggest economies led the World Bank to downgrade its forecast for global growth in 2016 by 0.4 percentage point to 2.9%, reports The Wall Street Journal.

India to go directly to BS-VI emission norms

India will move up to the toughest emission standards of BS-VI from the current BS-IV by 2020, reports Mint. The decision will make cars, sports utility vehicles (SUVs), trucks and buses more expensive.

Bajaj Auto to enter 12 new export markets

Bajaj Auto Ltd plans to enter a dozen new export markets by end of March, reports Mint. The company reported a decline in exports volume in the last few months because of political and economic uncertainties in some of its export markets.

Jaiprakash to sell its stake in Bhilai plant

Jaiprakash Associates Ltd signed an agreement with Shree Cement Ltd to divest its stake in Bhilai Jaypee Cement for an enterprise value of 2,100-2,200 crore, reports The Times of India.

Glenmark receives tentative US FDA nod for Sanofi’s heart drug

Glenmark Pharmaceuticals Ltd received a tentative nod from the US health regulator for launching generic version of Sanofi-Aventis’ heart drug, reports The Hindu Business Line. According to the report, the drug had an annual sales of around $425 million last year.

Adani turns Mundra port into transhipment hub

Gautam Adani is turning his flagship port at Mundra in Gujarat into a regional transhipment hub by partnering with Terminal Investment Ltd SA, the container terminal operating company majority owned by Geneva-based Mediterranean Shipping Co. SA, the world’s second biggest container shipping line. Read more.

ICICI Bank buys United Breweries’ shares

ICICI Bank Ltd bought 1.95 million shares of United Breweries Ltd for 186 crore through an open market transaction, reports PTI. According to the report, the shares were offloaded by United Breweries (Holdings) Ltd, promoter of United Breweries.

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