Page 101 - Business Finance
China has tools to handle trade war: central bank chief
China's central bank chief said Friday the country has plenty of policy tools left to handle the trade war with the United States. There is "tremendous" room to counter the deepening trade war, People's Bank of China governor Yi Gang said in an interview with Bloomberg TV. "We have plenty of room in interest rates, we have plenty of room in required reserve ratio rate, and also for the fiscal, monetary policy toolkit, I think the room for adjustment is tremendous," Yi said on Bloomberg TV. Ties between China and the US have deteriorated sharply after trade negotiations stalled last month without a deal to lift bruising tariffs on goods worth USD 360 billion in two-way trade. China said Thursday that it would soon release detailed information about a planned blacklist of "unreliable" foreign companies and individuals, that analysts expect will target firms cutting off supplies to Chinese tech giant Huawei. Last month the US Commerce Department placed Huawei and dozens of its affiliates
India's forex reserves improves by US$ 1.88 billion in the week ended 31 May
Forex reserves rises to US$ 421.9 billion as on 31 May 2019
Rupee drops 18 paise to 69.46 vs USD as crude oil rebounds
The rupee on Friday fell by 18 paise to close at 69.46 against the US currency on strengthening of the greenback in overseas markets and rising crude oil prices. Forex traders said that weakened Asian currencies also added to the pressure on the domestic unit. However, gains in domestic equities supported the rupee and capped its losses to some extent, they added. At the interbank foreign exchange (forex) market, the domestic currency opened higher at 69.23 per dollar, but lost ground during the day to fall to 69.52. The rupee finally settled at 69.46, down 18 paise over its previous close. The rupee had settled at 69.28 against the US dollar Thursday. The local currency on a weekly basis gained 24 paise. "Rupee has declined against the dollar following recovery in crude oil prices and lower Asian currencies against US dollar," said V K Sharma, Head-PCG & Capital Market Strategy, HDFC Securities. Brent crude futures, the global oil benchmark, climbed 1.62 per cent to USD 62.67 per
Rosatom CEO Challenges World Leaders to Implement Human-centred Skills Solutions
/ -- Rosatom CEO Alexey Likhachev has issued an invitation to world leaders from politics, business and education to join a debate to urgently implement human-centred solutions that can help solve the widening global skills gap and worsening talent shortage. Around 6% of the world's GDP has been lost due to these issues according to latest research unveiled at a panel discussion. "Free trade has been good for the world economy but the rapid pace of globalisation and the digital revolution have left many behind. Now is the time to act, so nobody will be left behind," said Mr Likhachev, at a roundtable event at SPIEF '19 (St. Petersburg International Economic Forum). "Not a single company, not a single state, not even the largest one in the world can change the labour market culture on its own. To avoid wasting time, we need the Kazan WorldSkills Conference in August to agree on a roadmap to enact a set of human-centred principles to solve this pressing skills gap issue. We have already
Nirmala to meet industry chambers on Jun 11 for pre-Budget consultation
Finance Minister Nirmala Sitharaman has called a meeting of leading industry chambers on June 11 to elicit their views on various issues, including steps to boost FDI inflows and industrial productivity, as part of the pre-Budget consultation exercise, sources said. This would be the first joint interaction with Sitharaman, who took over as India's first full-time woman finance minister last month, after the BJP-led NDA government won a second term. Representatives of industry bodies like CII, Ficci and Assocham, among others, are expected to attend the meeting. Most of the industry bodies have already submitted their memoranda of demands to the finance ministry for consideration. The Budget will be presented by the minister in the Lok Sabha on July 5. Sources said the topics likely to be taken up during the meeting Tuesday include changes in the FDI guidelines to spur overseas investments in the country. The minister would also seek their views on the issue of mergers to enhance ...
Optiemus Infracom reports standalone net loss of Rs 3.45 crore in the March 2019 quarter
Sales decline 78.10% to Rs 64.24 crore
REIL Electricals India reports standalone net profit of Rs 0.82 crore in the March 2019 quarter
Sales rise 18.51% to Rs 4.29 crore
Photon Capital Advisors reports standalone net loss of Rs 0.11 crore in the March 2019 quarter
Sales decline 96.36% to Rs 0.02 crore
Nifty June futures at premium
Turnover drops
What ex-IL&FS top brass got for loans? Foreign trips, private jets and chopper rides
Foreign trips, private jet travels, chopper riders and interior decoration at houses aboard -- the probe into the IL&FS saga has unearthed many such inducements that the top brass allegedly got from borrowers in return for faster loans and delayed recoveries. As large-scale manipulations continue to unravel at the once-mighty group, an investigation by the government's white-collar fraud probe agency SFIO has revealed several cases where the top brass got personal benefits from the borrowers of IL&FS Financial Services Ltd (IFIN), the non-banking financial services arm of the Infrastructure Leasing and Financial Services (IL&FS). E-mail trails have revealed deep-rooted connivance between former senior IL&FS officials and Siva Group Chairman C Sivasankaran as loans continued to be ever greened and recoveries delayed, according to officials. The SFIO (Serious Fraud Investigation Office) probe into the affairs of IFIN found that the company had entered into 15 ...
Take Premji's work to newer heights: Rishad to Wiproites
Wipro's Chairman-designate Rishad Premji on Friday urged thousands of Wiproites to take the work of IT czar Azim Premji to newer heights.
Stanza Living begins operations in seven new cities
India's largest student housing brand - Stanza Living has begun full-swing operations in Hyderabad, Chennai, Coimbatore, Indore, Pune, Baroda and Dehradun as part of its pan-India expansion plan.With this, the company has reached a national inventory of 22,000 beds across ten cities, growing more than 150x in 24 months. The company has also clocked INR 20 crore revenue in FY18-19. As part of its growth strategy, Stanza Living has been focusing on expanding network, strengthening its technology platforms and increasing team strength across cities."We aim to reimagine student living for the millions of students migrating in the country, with our hassle-free, tech-enabled and service-led housing experience. Our entry into these strategic educational hubs is a step towards building a pan-India student living brand, where residents can be assured of comfort, convenience and community experience at transparent rents. We are confident of reaching a target of over one lakh beds by 2021," said
Timely availability of credit is key to boost exports: Goyal
A stable policy framework and easy availability of credit are essential for Indian exports to make a mark in international markets, Minister of Commerce and Industry Piyush Goyal said on Friday."We have to develop a framework with a stable policy that is internationally acceptable, consistent and robust. And then look for solutions within that framework based on trust, integrity and due diligence," he said."Greater transparency has to be brought into the work being done by government organisations, export promotion councils and financial institutions," said Goyal while addressing a gathering in the national capital.Timely and efficient availability of export credit is critical for any trade activity and is one of the key drivers to boost growth of export. "The time has come when we should move away from subsidies to easy availability of cheaper credit to exporters," he said.The minister said export credit should triple in the next five years and allow India to be at par with other ...
Oriental Trimex reports standalone net loss of Rs 4.48 crore in the March 2019 quarter
Sales decline 49.17% to Rs 11.89 crore
M K Exim (India) standalone net profit rises 25.00% in the March 2019 quarter
Sales rise 36.09% to Rs 7.73 crore
Minolta Finance reports standalone net loss of Rs 0.28 crore in the March 2019 quarter
Sales reported at Rs 0.05 crore
Bervin Investments & Leasing reports standalone net profit of Rs 9.97 crore in the March 2019 quarter
Reported sales nil
Raymed Labs reports standalone net loss of Rs 0.01 crore in the March 2019 quarter
Reported sales nil
Medicamen Biotech standalone net profit rises 52.69% in the March 2019 quarter
Sales rise 13.55% to Rs 33.27 crore
Garnet Construction standalone net profit declines 74.68% in the March 2019 quarter
Sales reported at Rs 2.77 crore