Author: adler

The stocks of DB Realty and Unitech rose after top executives of these companies were granted bail in the 2G scam case.

Alfa Laval (India) today said its parent firm has raised the delisting offer price to Rs 2,850 a share.

After consolidating in a range for more than 3 months, Raymond has finally managed to confirm a breakout above the Rs 1,015 mark. The price action was supported by enough volumes, and we all witnessed a major breakout in daily RSI (14). Thus, we advise traders to buy the stock near Rs 1,020 for the target of Rs 1,100 in the coming sessions.

The poor financial health of state electricity boards could pose significant business risks for power traders in the country, says Fitch.

Fitch on Friday said it has withdrawn the ratings on Reliance Capital as the company has decided to stop participating.

TOKYO – Asia-Pacific stocks fell on Friday, slumping toward a second weekly loss as investors fretted about the potential for further Federal Reserve tightening and the effect on the US economy.
US short-term Treasury yields held near a one-month high, helping the dollar tick up against major peers, after Richmond Fed President Thomas Barkin overnight added to a chorus of hawkish central bank commentary in recent days.
MSCI’s broadest index of Asia-Pacific shares sank 0.54% and was on course for a 1% weekly decline, after losing 1.16% in the previous week.
Mainland Chinese blue chips lost 0.41% and the Hang Seng tumbled 1.19%. China’s January factory gate prices fell more than economists expected, suggesting that flashes of domestic demand that had stoked consumer prices after the zero-COVID policy ended are not yet strong enough to rekindle upstream sectors.
Australia’s benchmark slid 0.56% and South Korea’s Kospi shed 0.49%.
Japan’s Nikkei bucked the trend with a 0.5% rise, boosted by some strong earnings reports.
US equity futures were flat, after the S&P 500 sank 0.88% overnight.
“Is inflation calming? That’s really the core question for this year,” Barkin said in a podcast on the Richmond Fed’s website, adding that he felt the decline so far had been “distorted” by some falling goods prices.
At the start of the week, investors had been cheered after Fed Chair Jerome Powell refrained from striking a more hawkish posture following after a much stronger than expected jobs report at the end of last week.
“Powell maintained a relatively dovish tone, and markets took that as a green light to rally, but pretty much 24 hours later we got a stream of extremely hawkish Fed speak,” said Tony Sycamore, a strategist at IG.
“If rates go past that five, five-and-a-quarter percent range that the Fed has previously indicated, markets are definitely not priced for that – absolutely not.”
Money markets currently see a peak in the current rate cycle around 5.15% in July.
The two-year Treasury yield eased slightly to around 4.48% in Tokyo, after touching the highest since Jan. 6 at 4.514% overnight. The 10-year yield edged down to around 3.67% after bumping around 3.96% mid-week, also the highest since Jan. 6.
The US dollar index, which measures the greenback against six peers including the euro and yen, ticked up slightly to 103.28, sticking to the middle of its range this week. It touched 103.96 on Tuesday for the first time since Jan. 6 as well.
Meanwhile, crude oil prices dipped in early trade on Friday but were headed for a weekly gain with the market continuing to seesaw between fears of a recession hitting the United States and hopes for strong fuel demand recovery in China, the world’s top oil importer.
Brent crude futures fell 28 cents, or 0.3%, to $84.22 a barrel, while US West Texas Intermediate (WTI) crude futures fell 35 cents, or 0.5%, to $77.71. — Reuters

Lovable Lingerie is 3rd-best performing stock among companies listed this year, with it doubling in value, as traders bet it could repeat performance of Page Indus.

Shares of cigarette companies have rallied over the past one month, with ITC, Godfrey Philips and VST Industries hitting record highs.

Composer Burt Bacharach, whose hits such as “Do You Know the Way to San Jose” and “Raindrops Keep Fallin’ on My Head” provided a mellow alternative soundtrack to rock and roll in the 1960s and 1970s, has died at the age of 94, his publicist told Reuters on Thursday.
Bacharach died of natural causes at his home in the Los Angeles area on Wednesday with his family by his side.
His songs, many written in a 16-year collaboration with lyricist Hal David, were neither rock nor strictly pop. They filled American radio and were featured in major movies, making them as frequently heard in the 1960s and early 1970s as works by the Beatles, Rolling Stones and Bob Dylan.
Bacharach wrote more than 500 songs, many featuring a tinkling piano and subtly seductive horn hooks. He penned hits for singers ranging from Dionne Warwick to the Carpenters. More than 1,200 artists performed his songs, which won six Grammys and three Oscars. Bacharach and David had 30 Top-40 hits in the ’60s alone.
“He was just different,” David once told an interviewer. “Innovative, original. His music spoke to me. I’d hear his melodies and I’d hear lyrics. I’d hear rhymes, I’d hear thoughts and I’d hear it almost immediately.”
For Bacharach, his talent was simple: “I’m a person that always tries to deal with melody.”
With suave good looks and a cool demeanor, Bacharach was described by songwriter Sammy Cahn as “the only songwriter who doesn’t look like a dentist.” Married four times, his wives included fellow songwriter Carole Bayer Sager and actress Angie Dickinson.
Bacharach’s songs were recorded by an A-to-Z of artists, literally, from Aretha (Franklin) to Zoot (Sims).
The Bacharach-David collaboration “(They Long to Be) Close to You” was a worldwide hit for the Carpenters in 1970 and “What the World Needs Now Is Love,” originally recorded by Jackie DeShannon, was covered more than 150 times.
Bacharach and David frequently displayed a magic touch for Warwick, writing her hits “Walk on By,” “I Say a Little Prayer,” “In Between the Heartaches” and “Do You Know the Way to San Jose?”
Bacharach’s “Alfie” for the Michael Caine movie of the same name was a hit for Cilla Black and Tom Jones sang his title tune for Woody Allen’s “What’s New Pussycat?” Other movie music from Bacharach included “Raindrops Keep Fallin’ on My Head” from “Butch Cassidy and the Sundance Kid,” for which Bacharach and David won two Academy Awards and a Grammy for best score.
His “Baby, It’s You” was recorded by the Beatles, Elvis Costello, Gene Pitney and Perry Como.
“Arthur’s Theme” by Christopher Cross from the Dudley Moore comedy “Arthur” brought Bacharach a third Oscar. It was a collaboration with Bayer Sager, who became his third wife in 1982. They had a son, Christopher, in 1986 and divorced in 1991.
Bacharach and David scored the Neil Simon Broadway musical “Promises, Promises,” which won them two Tonys and a Grammy.
He continued composing with partners including British rocker Elvis Costello. He recorded several songs with Nashville songwriter Daniel Tashian during the COVID-19 pandemic. The pair performed a Tiny Desk (home) concert for National Public Radio in September 2020 with Bacharach on piano from his home in Los Angeles and Tashian singing from his garage in Nashville.
“I’m very grateful to be in my house in L.A. when this lockdown happened,” Bachrach said in an interview after the concert shown on YouTube. “We were supposed to be on tour when the pandemic hit.”
At age 92, Bachrach also collaborated with Seattle-based artist Melody Federer.
Asked what it was like to work with a lyricist 60 years his junior, he said age “only has a part if you’ve lost your edge, your sharpness or your writing. … you are supposed to grow and supposed to get better as time goes on.”
Born Burt Freeman Bacharach in Kansas City, Missouri, on May 12, 1928, he learned to play the piano – he hated it at first but his mother insisted – after his family moved to New York.
Bacharach served in the US Army during the Korean War but wore a tuxedo instead of military fatigues and played piano in officers’ clubs across America.
Later, he worked clubs in New York and became pianist-arranger for singers such as Marlene Dietrich, Vic Damone, the Ames Brothers, Polly Bergen and Paula Stewart, who became his first wife. Eventually he decided he could write better tunes than the ones being pitched to the singers he worked for.
Early in his career, he toiled along with other songwriters in New York’s famed Brill Building. “Those were exciting times because the Brill Building was seven floors of music publishers,” he recalled in a 2016 interview with the Huffington Post. “I was not an overnight success. I went a long time with a lot of rejection, so you’ve got to have the stomach for that, too.”
Bacharach and David were responsible for a string of hits that included Dusty Springfield’s “The Look of Love” for the movie “Casino Royale” and Herb Alpert’s “This Guy’s in Love With You,” their first No. 1 song. The pair broke up in 1973 after a rare failure – the remake of the Frank Capra movie “Lost Horizon.”
Bacharach married his fourth wife, ski instructor Jane Hanson, in 1993. In 2007, his only child with Angie Dickinson, daughter Nikki, committed suicide at the age of 40 after a lifetime struggling with autism. In his late 80s he wrote a song and the score for the movie “Po,” about a man raising an autistic daughter.
While star performers made his songs hits, Bacharach said he also enjoyed performing himself and making a personal connection with smaller audiences.
“What I try to do … is to get on stage and meet people through music,” he said in the Huffington Post interview, recalling a cancer survivor who said his song “House Is Not A Home” eased the discomfort of chemotherapy. “You get it from people wherever you are … You get a reaction from an audience that makes you feel good.” — Reuters

The flower trade in Dangwa, known for being the go-to place for inexpensive flowers, is thriving despite stiff competition. During the height of the pandemic, daily sales were sometimes nil. At one point, flower shops had to resort to selling vegetables, according to one of Dangwa’s oldest establishments.
“Ngayon lang ulit bumamalik ang mga tao (It’s only now that people have started coming back),” John Michael E. Nocidal, operations manager of Nene’s Flower Shop, tells BusinessWorld. “Naniniwala kami na babalik siya sa dati. Actually, bumabalik sa siya (We believe that things will go back to normal. Actually, it already has).”
Text and interview: Patricia B. Mirasol
Videography/Video editing: Joseph Emmanuel L. Garcia and Earl R. Lagundino