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ICICI Lombard sells 17.7 Lk shares or 0.84% equity at Rs 270/sh


In pact with Reliance Nippon to sell Mutual Fund products

Nextgen Vakrangee Kendras to offer mutual fund distribution on pan India basis


Plans to sell part of se Asia biz as part of strategy to exit non scalable biz

To sell Singapore & Thailand units valuing them at $ 500Mn

Singapore & Thailand biz contributes 16% to revenues & 2% to EBITDA

To turn focus to domestic market



Avendus cap-KKR emerge as frontrunner to acquire IDFC MF

Offer of Rs 3,000-4,000 Cr made by FIN services firm



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News In Brief


    Iran's supreme leader calls for backing government in face of US sanctions: Website

    Iran’s supreme leader on Sunday called on state bodies to support the government of President Hassan Rouhani in fighting looming U.S. economic sanctions, saying America’s “conspiracy” could be defeated, according to his official website. 

    “I strongly believe that if the government takes the necessary measures, it will be able to overcome problems and defeat the U.S. conspiracy,” Ayatollah Ali Khamenei said in a speech carried on the website, calling on state bodies to support the government’s economic policies.


    Congo's Kabila appoints army chief under US, EU sanctions for alleged violence

    Kinshasa: Congo’s President Joseph Kabila has appointed a new army chief who is under international sanctions for the violent repression of dissent, raising fears of an imminent crackdown. 

    State television reported on Sunday that Kabila had appointed General John Numbi to the role of inspector general of the Congolese Armed Forces. Numbi has been placed under sanctions by the United States, European Union and Switzerland for alleged killings of scores of civilians by forces controlled by him over several years.


    US President Trump playing golf on Turnberry course in Scotland: Reuters reporters

    Turnberry, Scotland: U.S. President Donald Trump played golf at his Turnberry course in Scotland on Sunday on the final day of his visit to Britain. 

    Trump, wearing a white cap, was seen by two Reuters reporters on the course at Turnberry, along with several buggies carrying golf equipment and security personnel.


    Airbus in talks for new Viva Aerobus jet order: Sources

    Farnborough, England: Europe’s Airbus (AIR.PA) is in talks with Viva Aerobus for a repeat order of up to 40 of its A320neo-family jets, industry sources said on Sunday. 

    The Mexican budget carrier has ordered 55 Airbus single-aisle aircraft of which 17 have so far been delivered. An order for 40 aircraft would be worth some $4.4 billion at list prices, depending on the exact variant chosen. Airbus declined to comment. The airline was not immediately available for comment.


    5 killed, 25 injured in J&K landslide

    Jammu: Five persons were killed and 25 injured in a landslide in Jammu and Kashmir's Reasi district on Sunday, officials said. 

    Police said a large number of people were bathing under a waterfall in Sehar Baba area in Reasi when a landslide occurred, burying the people beneath it. "Rescue and relief operation is going on. The injured have been shifted to hospital for treatment," a police officer said.


    Suspected suicide blast in Afghan capital Kabul: Police spokesman

    Kabul: An explosion was reported in the Afghan capital Kabul on Sunday, close to the Ministry of Rural Rehabilitation and Development, a police spokesman said. 

    He said the explosion was believed to have been caused by a suicide attacker but had no further details.


    Ireland to move oil reserves from UK over Brexit: Sunday Independent

    Dublin: The Irish government is planning to move 200,000 tonnes of its oil reserves from Britain as part of its Brexit preparations and will sign off on the move this week, Ireland’s Sunday Independent newspaper reported. 

    Ministers will sign off on the decision to move the oil, which includes refined products, at a Cabinet meeting on Wednesday, the newspaper quoted an unnamed senior government source as saying.  Around 500,000 tonnes of Ireland’s 1.5 million tonnes of oil reserves are currently held overseas, the report said. A government spokesman did not immediately respond to a request for comment.


    Qatar says will struggle to repeat Russia's on-pitch success

    Moscow: Qatar, next host of the soccer World Cup, will struggle to replicate the success of the Russian team on the pitch at this year’s tournament because it is a small country, Qatari Emir Sheikh Tamim bin Hamad al-Thani said at a Kremlin ceremony on Sunday.


    Yasin Malik detained in Kashmir

    Srinagar: Jammu and Kashmir Liberation Front (JKLF) Chairman Muhammad Yasin Malik was detained by police on Sunday in Jammu and Kashmir's Anantnag district. 

    JKLF sources said Malik had gone to condole some bereaved families. While returning home, he was detained along with two associates. Malik was released only on Saturday after 10 days in preventive detention.


    Russia hands over World Cup hosting duties to Qatar

    Moscow: Russian President Vladimir Putin on Sunday handed over the mantle of World Cup host to the emir of Qatar, whose country will stage the 2022 edition of the tournament. 

    At a Kremlin ceremony, Putin handed an official World Cup soccer ball to Gianni Infantino, head of world soccer’s governing body FIFA, who then handed on the to Emir Sheikh Tamim bin Hamad al-Thani. Putin said Russia was proud of its achievements in hosting the World Cup, and would share its experience with Qatar. The tournament will end later on Sunday with a final match between France and Croatia.


    Syria monitor and rebels says jets bomb rebel-held town in Quenitra province

    Amman: A Syrian war monitor and rebels on Sunday said jets bombed an opposition held town in Quenitra province in the first such aerial strike in a year. 

    The UK-based Syrian Observatory for Human Rights said they believed the jets that targeted Mashara were Russian that struck from high altitudes. Another rebel source said artillery from nearby Syrian army barracks launched a salvo of missiles on the town.


    Iran flights to Iraq's Najaf redirected to Baghdad: Iranian state TV

    Flights from Iran to the Iraqi city of Najaf will be diverted to Baghdad, Iran’s state television reported on Sunday. Hundreds of Iraqis stormed the airport and halted air traffic in the Shi’ite holy city of Najaf on Friday, extending several days of protests. 

    “Due to problems at Najaf airport ... Iranian planes will take their passengers to Baghdad airport,” Reza Jafarzadeh, spokesman for Iran’s Civil Aviation Organization, was cited as saying.


    US President Trump says he has 'low expectations' for Putin meeting: CBS news

    London: U.S. President Donald Trump said he had low expectations for his meeting with Russian President Vladimir Putin on Monday in Helsinki. 

    “I go in with low expectations,” Trump said in an interview with CBS news published on their website on Sunday. “I’m not going with high expectations.”


    Flydubai halts flights to Iraqi city of Najaf until July 22: Statement

    Dubai: Flydubai has halted flights to the Iraqi city of Najaf “due to the disruption on the ground” at the airport until July 22, the Dubai state-owned airline said on Sunday. 

    Najaf airport was closed on Friday after protests there halted air traffic. Najaf is among the cities in southern Iraq that have witnessed days of protests over poor services and against alleged official corruption. Flydubai, which operates a daily return flight from Dubai to Najaf, is monitoring the situation, an airline spokeswoman said.


    Jordan's state airline suspends flights to Iraqi city of Najaf: Statement

    Amman: Jordan’s state airline said on Sunday it had suspended four weekly flights to the Iraqi city of Najaf due to the “security situation at it’s airport, a company statement said. 

    Royal Jordanian said Najaf is the ninth destination in the region - from Mosul in Iraq to Aden and Sanaa in Yemen - to which it has suspended flights due to turmoil in recent years. Najaf is among the cities in southern Iraq that have witnessed days of protests over poor services and against alleged official corruption.


    Aid convoy reaches southwest Syria: Syrian Arab Red Crescent

    Beirut: A humanitarian aid convoy reached government-held parts of southwest Syria on Sunday, a Syrian Arab Red Crescent statement said. Nine trucks carrying 3,000 food parcels reached the towns of Nassib and Um al-Mayathen in Deraa province near a border crossing with Jordan. 

    The Syrian government, backed by the Russian military, has captured most of the province in an offensive that began in June. The convoy was accompanied by a delegation containing the United Nations humanitarian coordinator in Syria Ali Al Zaatari and representatives of the International Committee of the Red Cross.


    Israel's Netanyahu says discussed Syria, Iran with Trump

    Jerusalem: Israeli Prime Minister Benjamin Netanyahu said on Sunday that he discussed Syria and Iran with U.S. President Donald Trump ahead of the latter’s meeting with Russian President Vladimir Putin. 

    In remarks to the Israeli cabinet, Netanyahu said he spoke by phone on Saturday with Trump and that the U.S. president reiterated his commitment to Israel. In Helsinki on Monday, Trump will meet Putin, Damascus’ big-power backer and a regular interlocutor with Tehran.


    May says Donald Trump told her to sue the EU over Brexit

    London: British Prime Minister Theresa May on Sunday said U.S. President Donald Trump had previously advised her to sue the European Union as part of her Brexit strategy, revealing a piece of advice Trump said last week she had ignored. 

    “He told me I should sue the EU,” May told BBC television. “Sue the EU. Not go into negotiations - sue them.”


    Sirens warning of rockets fired from Gaza sound in Israeli city of Ashkelon: Army Radio

    Jerusalem: Sirens warning of incoming rockets fired from the Gaza Strip sounded in the Israeli city of Ashkelon on Saturday, Israeli Army Radio said, and two Israelis were wounded by Palestinian rockets in another town, a Reuters witness said. 

    It was unclear whether any rockets had hit Ashkelon. The Israeli military struck dozens of militant sites in Gaza and Palestinians militants fired dozens of rockets and mortar bombs at villages adjacent to the border throughout Saturday. Targeting Ashkelon would be a sign that the militants were trying to reach deeper into Israel. A Reuters witness saw two women apparently wounded by a rocket which landed in the Israeli town of Sderot near the border.


    Israel taking 'strong action against Gaza aggression': Israeli official

    Jerusalem: Israel has decided “to take strong action against Gaza aggression”, an Israeli government official said on Saturday after the worst flare-up of fighting since a 2014 Israel-Gaza war. The official spoke on condition of anonymity. 

    The Israeli military struck dozens of militant targets in Gaza and Palestinian militants fired dozens of rockets across the border throughout Saturday. At least two Palestinians were killed in an Israeli air strike and at least three Israelis wounded by Palestinian rockets fired into Israel.


    Protesters storm provincial government building in Iraqi city of Kerbala: Local sources

    Baghdad: Protesters stormed the provincial government building in the Iraqi city of Kerbala on Saturday, a Reuters witness said. 

    Protests over poor government services and corruption, which had spread to the Shi’ite holy city on Saturday, entered their sixth consecutive day in several cities in Iraq’s southern provinces.


    Russia's Putin, Turkey's Erdogan discuss Syrian crisis: Kremlin

    Moscow: Russian President Vladimir Putin and Turkish President Tayyip Erdogan, in a phone call on Saturday, have discussed joint efforts aimed at solving the Syrian crisis, the Kremlin said in a statement. 

    Putin also congratulated Erdogan on winning this month’s presidential election in Turkey.


    Ceasefire reached between Israel and Gaza militants: Palestinian official

    Jerusalem: Israel and Gaza’s armed groups agreed a ceasefire on Saturday to end a sharp surge in cross-border violence, a Palestinian official said. “Egyptian and international efforts succeeded in ending the current round of escalation,” the Palestinian official, who is familiar with the talks, told Reuters on condition of anonymity. 

    A spokesman for Israeli Prime Minister Benjamin Netanyahu did not respond to a request for comment.


    Criminal case against UAE's Abraaj founder dismissed: Court

    Sharjah: A criminal case against private equity firm Abraaj founder Arif Naqvi and another executive for issuing a cheque without sufficient funds has been dismissed, the presiding judge said on Sunday. 

    The court case relates to a cheque for 177.1 million dirhams ($48 million), signed by Naqvi and a fellow executive, and written to Hamid Jafar, another founding shareholder in Dubai-based Abraaj, a prosecution document showed. At a court in Sharjah, one of the United Arab Emirates, Judge Natheer al-Sousi said the case had been dismissed after the claimant had waived his rights to pursue the claim.


    Earthquake of 6.2 magnitude strikes off Yemen: USGS

    Singapore: An earthquake of 6.2 magnitude struck off Yemen on Sunday, the U.S. Geological Survey (USGS) reported, but there were no immediate reports of any damage or casualties. 

    The quake struck 213 km northwest of Socotra island in the Gulf of Aden. There was no immediate tsunami warning.


    Iraq police fire in air as protesters try to storm Basra government building

    Basra: Iraqi police fired in the air as hundreds of protesters tried to storm the main provincial government building in Basra on Sunday, wounding four people in the seventh day of unrest that has swept southern cities over poor services, police sources said. 

    “Some of the protesters tried to storm the building. We prevented them by using water cannons and tear gas,” said one of the police sources.


    Syrian forces seize village in southwest, widening offensive: Monitor

    Beirut: Syrian government forces seized a village in Quneitra province on Sunday, their first advance against insurgents in the region adjoining the Israeli-occupied Golan Heights since launching a major offensive in the southwest, a war monitor reported. 

    The village of Mashara, about 11 km (7 miles), from the Golan frontier was captured after heavy shelling, the Syrian Observatory for Human Rights said. Government forces also shelled the town of al-Haara in neighbouring Deraa province, it said. The government, backed by the Russian military, has captured most of Deraa province in the offensive that began in June.


    Explosion in a building in Gaza, two dead, one wounded: Health officials

    Gaza: Two Palestinians were killed and one was wounded in an explosion on Sunday in a building in Gaza, health officials said. 

    The cause of the blast, hours after a ceasefire between Israel and Palestinian militants in the enclave was announced, was not immediately known. Health officials said the two people killed were a father and his son.



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