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Oil Jumps As Yuan Hits 2016 High; Investors Put Fresh Cash Into Oil

Singapore: Oil prices jumped on Friday supported by fresh investment and a weaker dollar, which makes fuel cheaper for importers using other currencies, but analysts warned that a stronger price rally was premature as a global glut remained in place. U.S. crude futures were trading at $38.64 a barrel at 0749 GMT, up 80 cents and over 2 percent from their last close. Traders said reports that commodity merchant Gunvor was the latest company to export U.S. sweet crude also supported WTI prices. Brent crude futures were at $40.70 a…

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Alkem Labs Jumps 5%; Gujarat Unit Gets USFDA Nod

Mumbai: Shares of Alkem Labs today went up by over 5 per cent after the company said one of its manufacturing plants in Gujarat has obtained establishment approval from US health regulator USFDA. The stock climbed 4.91 per cent to Rs 1,377.75 on BSE. On NSE, it soared 5.16 per cent to Rs 1,379. “Its manufacturing plant at Mandva, Gujarat, has successfully obtained the Establishment Inspection Report from the USFDA. The plant manufactures Active Pharmaceutical Ingredients (APIs) and was inspected by the USFDA in September¬†2015,” Alkem Labs said in a…

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