Page 1207 - Business Finance
Oncquest Lab to add 18 more labs across India by 2020-end
Aditya Burman-promoted diagnostic chain Oncquest Laboratories is looking to add 18 labs mainly in tier II cities across the country by the end of 2020, a senior company official has said. The company currently operates 38 laboratories in the country and has 500 collection centres, and it conducts over 4,000 different tests. Besides India, the company has collection centres in Nepal, Bangladesh, Sri Lanka and Malaysia. "We will be adding 18 more labs across India by 2020-end mainly in tier II cities as we already have presence in the tier I cities," Oncquest Laboratories COO Ravi Gaur told PTI. The cities under consideration are Vijayawada, Jammu, Jalandhar, Kanpur, Jodhpur, Surat, Bhopal, Indore, Ranchi and Coimbatore, among others, he added. "We may also open another lab in Mumbai and Bengaluru during this period," Gaur said. The company is also planning to open labs in the Middle East and South Africa in future, he added. When asked about the investment the company would be making ..
Diesel prices up by 10 paise, petrol remains unchanged
There was a marginal hike in diesel prices on Sunday while petrol prices remained unchanged in the national capital and Mumbai.In Delhi, diesel prices went up by 10 paise, costing at Rs 66 per litre now. Petrol is sold at Rs 71.27 per litre, it was last increased on Tuesday by 13 paise per litre, according to data from the Indian Oil Corporation website.Petrol and diesel prices in Delhi are the cheapest among all metropolitan cities.In Mumbai, people will have to shell out Rs 76.90 per litre for petrol. Diesel costs Rs 69.11 per litre in the city.In October, petrol prices had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai. Diesel went up to Rs 75.45 a litre in October in the national capital and Rs 80.10 in Mumbai.At present, all the oil marketing companies of the country revise the domestic prices of petrol and diesel on a daily basis, in accordance with the international crude oil and rupee-dollar.
RWE says coal exit in 2038 too early, will review proposals
FRANKFURT (Reuters) - RWE, Germany's biggest electricity producer, said it would thoroughly review the impact of proposals by a government-appointed commission for how to phase out coal, adding fully exiting the fuel by 2038 was too early.
Q3 results dampen investors' sentiments; equity indices slide over 1% (Market Review)
Disappointing quarterly results, combined with foreign fund outflows and negative global cues, pulled the Indian equity market lower during the week ended on Friday.
HC notice to Centre on plea to nominate directors to Repco Bank
The Madras High Court has issued notice to the Centre on a plea seeking to nominate directors to the Repco Bank according to the provisions of the Multi-State Co-operative Societies Act. Justice Pushpa Sathyanarayana gave the direction recently while disposing of a writ petition from P Dhanapal, a Sri Lankan repatriate and a member of the Repatriates Co-operative Finance and Development Bank Shareholders' Welfare Association. The judge directed the Union Ministry of Agriculture and Farmers' Welfare and the Central Registrar of Co-operative Societies, New Delhi, to consider within four weeks a representation dated October 10, 2018 from the association to nominate directors to the Repco Bank according to the provisions of the Multi-State Co-operative Societies Act. According to the petitioner, the bank was formed for the welfare of repatriates from various counties like Myanmar (Burma), Sri Lanka and Vietnam to provide rehabilitation and assistance for their development. It is spread ...
Tax demand: I-T dept attaches portion of shares held by V G Siddhartha, Coffee Day in Mindtree
The income tax (I-T) department has attached some of the shares held by V G Siddhartha and Coffee Day Enterprises Ltd in Mindtree, a move that may halt them from selling their stake in the IT firm. The step by the I-T department has been taken to recover a tax demand from the two, Mindtree said in a regulatory filing without disclosing further details. The development comes at a time when Siddhartha, who owns about 21 per cent stake in Mindtree through various entities, is said to be in advanced discussions to sell his shares in Mindtree. In its BSE filing on Saturday, Mindtree informed that the I-T department in Bengaluru has issued a "provisional attachment u/s 281B of Income Tax or prohibitory orders Act, 1961 for tax demand likely to be raised by the I-T Department on...shareholders of the company - Coffee Day Enterprises Ltd and V G Siddhartha". It added that the attachment also "prohibited for transfer or charge" of 22.2 lakh equity shares of Coffee Day Enterprises Ltd, and 52.7
Indian High Commission hosts 'India Week' to boost trade with ASEAN
India's trade with the South East Asian nations is below potential, the Indian High Commissioner to Singapore Jawad Ashraf said Saturday, as he underlined the need to give priority to micro, small and medium enterprises to boost exports to these countries. The India High Commission here has organised a five-day long India Week, between January 24 and 27, during which a series of events covering culture, art, cinema, cuisine, philosophical discourses were organised. To support further growth in trade, the High Commission organised "India-Singapore Trade: Sustainability, Strengths and Strategies - Making it Work for Smaller Businesses" with a focus on promoting exports from micro, small and medium enterprises sector, handicrafts and cottage industry, including Khadi products, from India. Also, over 100 MSMEs from India, led by the High Commission, participated in the seminar. "India's trade with ASEAN Region is below potential. It is showing a modest growth and constitute about mere 2.5
Uttarakhand on firm economic footing: CM
Chief Minister Trivendra Singh Rawat has claimed that Uttarkhands economy was on a firm footing with its growth rate reaching 7.03 per cent, a jump of .21 per cent from the last financial year, and investment proposals worth Rs 10,300 crore are in the final stages of implementation.
Karnataka's 9 industrial clusters to compete with China: Governor
In a bid to increase industrial production capacity, Karnataka is developing manufacturing clusters in nine districts under "compete with China" scheme of the state, Governor Vajubhai Vala said on Saturday.
China names ICBC banking veteran to head securities regulator
SHANGHAI (Reuters) - China has appointed banking veteran Yi Huiman to head the China Securities Regulatory Commission (CSRC), putting governance of the nation's stock markets in his hands at a time when investor confidence has been hit by a slowing economy and U.S. tariffs.
Bengaluru top choice among home buyers, Mumbai second: Report
India's IT hub Bengaluru is the top investment choice among home buyers, followed by Mumbai, a report by Track2Media Research said.
Facebook to integrate Instagram, WhatsApp, Messenger: Report
Facebook is currently working towards integrating its chat services -- WhatsApp, Messenger, and photo-sharing app Instagram -- to let their users to message each other across platforms.
Housing & energy: Avoiding market failure to boost growth (Column: Behind Infra Lines)
With the rapid urbanisation and growing energy consumption in India, the trend of higher demand for urban housing and energy is here to stay. While urban residential real estate has seen a slight improvement of late and commodity prices have subsided from the highs of 2018, both housing and energy sectors will need renewed attention going forward especially to avoid future market failures.
Designers' duty to make Indian textiles and weaving viable globally: Aneeth Arora
Aneeth Arora, one of India's most popular young designers, believes it is the duty of the fashion industry to promote the textiles and craftsmanship of the country globally. The Delhi-based designer, who will presenting her new collection at the upcoming Lakme Fashion Week Summer/Resort 2019 under her label Pero, said it is important for Indian designers to make the country's weaving techniques suitable for the international market. "As designers, it is our duty to make Indian textiles and weaving viable globally. If all the traditional crafts were viable on their own, they would have had international market already. But the thing is that all the traditional crafts in India have been done on very coarse textiles and fabrics which are not very comfortable. "I feel design intervention is needed every where. Because the best combination can be that of the craft and design," Aneeth told PTI. The designer, known for combining traditional Indian textiles with western design sensibilities, .
Reform arcane agricultural policies to resolve farmers' distress (Column: Active Voice)
After the surprising state assembly results of Chhattisgarh, Madhya Pradesh and Rajasthan, the upcoming interim Budget is quite unlikely to be a traditional vote-on-account.
Malaysia scraps multi-billion dollar China-backed project
A multi-billion dollar China-backed rail project in Malaysia has been scrapped, government officials said Saturday, adding that the cost of building it was too high. Malaysia has in recent months suspended several major projects signed under the country's previous scandal-plagued regime, in a bid to cut the country's massive one trillion ringgit (USD 251 billion) debt. Economics minister Azmin Ali said Malaysia made the decision two days ago on the 81 billion ringgit ($19.6 billion) east coast rail link (ECRL) that would have connected the eastern and western coasts of the peninsula. "The cost of the ECRL development is too big, so we have no financial ability at this time," he told reporters. He said that if the project was not terminated, Malaysia would have to pay an annual 500 million ringgit interest payment. Malaysia's previous government under Prime Minister Najib Razak had warm ties with China and signed up to a string of Beijing-funded projects. But critics say many of these .
IL&FS Transportation Networks' subsidiary in Spain, Elsamex to initiate voluntary insolvency proceedings
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AP poised to spearhead India's efforts in leveraging technology for development: Guv
Andhra Pradesh is poised to spearhead the country's efforts in leveraging technology for development and governance and in enhancing happiness levels of people despite "hostile treatment" by the Centre and a "non-conducive" atmosphere, Governor E S L Narasimhan said Saturday. In his address after unfurling the national flag at the Indira Gandhi Municipal Corporation Stadium here on the Republic Day, the governor said AP has emerged as the best economic performer by registering an average growth of 10.52 per cent against the all-India growth rate of 7.3 per cent. The net increase of state economy was Rs 3.4 lakh crore (73 per cent) within a span of four years though the Centre was unwilling to implement the statutory provisions of the AP Reorganisation Act, 2014, including grant of Special Category Status and other assurances, the governor added. "Despite the hostile treatment and non-conducive environment, AP has not derailed from the path of large-scale development, by resolving to ..
IL&FS Transportation Networks gets revision in credit ratings
From India Ratings and Research
Entertainment Network (India) enters into brand and content licensing agreement with US based radio broadcaster
The Brand and Content Licensing arrangement is expected to be operational on 26 January 2019.