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Markets reverse losing streak amid high volatility

The Indian bourses opened marginally higher at 16,317.16 - up 28 points. points - mirroring positive cues from the global markets. The US markets ended on a positive note after the US Federal Reserve said that the conditions in the world"s largest economy are showing signs of improvement. The Dow Jones Industrial Average added 0.4 per cent and the Nasdaq Composite Index was up 0.8 per cent, respectively. The Asian stocks too started on a strong note however pared some gains towards end of the day. The Hang Seng was up 1.61 percent and the Nikkei added 1.5 per cent, respectively.

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RBS to sell fund mgmt assets stake for 84.7 mn pounds

The Royal Bank of Scotland (RBS) will sell part of fund management assets to Aberdeen Asset Management Plc for an estimated 84.7 million pounds.

Oracle Financial Q1 net profit up 76%

IT financial services solutions vendor Oracle Financial Services Software today said its consolidated net profit rose by 75.99 per cent to Rs 185.78 crore for the first quarter ended June 30, 2009, over the same period last year.