Page 1211 - Business Finance
80% APAC service providers see better revenue opportunities from 5G: Amdocs
Around 80 per cent Communication Service Providers (CSPs) of the Asia-Pacific (APAC) region expect 5G technology to drive and expand revenue opportunities among enterprise customers in the coming years, software and communications service provider Amdocs said on Friday.
Emami acquires German brand Creme 21
FMCG major Emami Ltd on Friday said it has acquired German brand Creme 21 in the personal care space, having major business in the Middle East and other focus markets.
Coca-Cola India launches grape based sparkling drink Colour in TN
Beverages major Coca-Cola India on Friday expanded its Minute Maid product range by launching a grape fruit based sparkling drink branded as Colour, said a top company official.
Exclusive: Etihad hires turnaround expert Alvarez & Marsal as it weighs Jet Airways bailout
NEW DELHI/ABU DHABI (Reuters) - Etihad Airways has appointed turnaround specialist Alvarez & Marsal to conduct due diligence on Jet Airways Ltd as it weighs bailing out the cash-strapped Indian carrier, three sources familiar with the matter told Reuters.
China to step up economic stimulus in slowdown fight, but room seen limited
BEIJING (Reuters) - China will take steps to spur growth amid a trade war with the United States, but there is limited room for aggressive stimulus in an economy already laden with massive debts and a property market prone to credit-driven spikes, policy insiders said.
Classic Legends to focus on tapping Jawa merchandise: CEO
: Classic Legends, a Mahindra and Mahindra subsidiary, which relaunched Jawa Motorcycles last year,would focus on tapping Jawa merchandise under its move to take the Jawa legacy to a wider audience, a top official said. The company, which introduced Jawa and Jawa forty two and the Jawa Perak in November 2015, opened three outlets in the city Friday as part of its plan to open 105 showrooms across 83 cities. "We are on track with our schedule. The first set of deliveries will happen by March", Classic Legends CEO, Ashish Joshi told reporters. The company would focus on retailing Jawa branded products like helmets, keychains and T-shirts, he said, adding a commemorative key would also be unveiled. "Merchandise is part of our experience. There is a big, commemorative key. It will be in the shape of the fuel tank of a Jawa motorcycle. When you put it on a table, the other person will definitely ask about it and it will be a conversation starter...", he said. "Even in the ...
India 6th in GDPR readiness index: Cisco
Nearly 65 per cent of Indian organisations are better prepared for the European Union's General Data Protection Regulation (GDPR), making the country the sixth leading nation globally in the GDPR readiness index, global networking leader Cisco said on Friday.
Gruh Finance Q3 profit up 6.5 pc to Rs 97 cr
Gruh Finance, a subsidiary of HDFC Ltd, on Friday posted a 6.5 per cent rise in net profit at Rs 96.95 crore for the third quarter ended December 2018. The company had recorded a net profit of Rs 90.84 crore in the corresponding quarter of the previous fiscal, Gruh Finance said in a regulatory filing. During the period, total income of the lender rose to Rs 540.06 crore as against Rs 432.75 crore during the corresponding period of the previous fiscal. Earlier this month, private sector lender Bandhan Bank decided to acquire Gruh Finance through a share swap deal. The boards of both the lenders fixed a share exchange ratio at 568 equity shares of Bandhan Bank with a face value of Rs 10 for 1,000 shares of Gruh Finance which has a face value of Rs 2 each.
Exclusive: Kazakhstan urgently looking for bank to take over Tsesnabank - sources
ALMATY (Reuters) - The Kazakh authorities are urgently looking for a bank to take over no. 2 lender Tsesnabank as they believe it needs new financing to prevent a collapse, three sources familiar with the discussions told Reuters.
Global stocks gain on earnings, euro rebounds after dovish ECB
LONDON (Reuters) - Global stocks rose on Friday, as strong earnings helped to underpin investor sentiment in the face of growing signs that the global economy is slowing and a still unresolved trade dispute between the United States and China.
PM economic advisory panel advise against deviating from fiscal consolidation
Days ahead of presentation of the interim budget, the Economic Advisory Council to the Prime Minister (EAC-PM) Friday cautioned the government against deviating from its fiscal consolidation target. The Council, however, observed that there must be a continued emphasis on social sector interventions. "The Council strongly feels that there should be no deviation from the fiscal consolidation target but there must be continued emphasis on social sector interventions", an official release said after a meeting of the EAC-PM Friday. The statement has come amid speculations that the government may announce packages for farmers and poor and sops for middle class in the budget ahead of general polls. Junior agriculture minister Parshottam Rupala said Thursday that the government will soon announce a package for farmers to boost their income. Moody's Investors Service Friday pointed out that steps announced by the government to aid MSMEs and the measures being planned to support farmers will ..
Japan's Yanmar group to set up diesel engine plant at Mahindra's industrial park in Chennai
Japan's Yanmar group will set up a diesel engine manufacturing facility at an industrial park in Chennai being developed by realty firm Mahindra Lifespace Developers. Mahindra Industrial Park Chennai (MIPCL), a joint venture between Mahindra World City Developers Ltd and Sumitomo Corporation of Japan, said in a statement it has signed "Yanmar group as its anchor customer at ORIGINS by Mahindra World City, North Chennai". ORIGINS by Mahindra World City comprises industrial clusters of international standards, spanning 250-600 acre and located in high-growth corridors across India. Yanmar Group, an over 100-year-old business group from Japan, will establish a diesel engine manufacturing facility at ORIGINS to cater to original equipment manufacturers (OEM) in the Indian construction and agriculture sectors. The facility is expected to be operational by 2020. The phase one of ORIGINS by Mahindra World City, north Chennai, spans 264 acre and is currently at advanced stages of development,
Colgate-Palmolive forecasts fall in 2019 profit
(Reuters) - Colgate-Palmolive Co forecast a surprise fall in 2019 profit on Friday, as the world's largest toothpaste maker spent more on advertising, while battling higher commodity costs.
Oil edges down as U.S. supplies, economic worries eclipse Venezuela turmoil
LONDON (Reuters) - Oil prices fell slightly on Friday as concerns about U.S.-China trade talks and fresh data on surging U.S. fuel stocks sent a chill through markets.
PIL against IIFL going ahead with public issue
A Chennai-based investor has moved the Madras High Court and SEBI against a Mumbai-based company, India Infoline Finance Ltd (IIFL), from going ahead with the public issue of secured and unsecured redeemable non-convertible debentures to the tune of about Rs.2,000 crore.
Xiaomi undisputed smartphone leader in India
With a market share of 27 per cent, Chinese handset maker Xiaomi took a clear lead over Samsung which had 22 per cent share in the Indian smartphone shipments in the fourth quarter of 2018, Counterpoint Research said on Friday.
Over 30 companies from India to take part in EMO Hannover-2019
More than 30 companies from India are expected to participate at the 22nd EMO Hannover-2019, a leading metalworking trade show at Hannover in Germany from September 16 to 21 this year. The organisers said in a press release that as many as 1,780 exhibitors would be showcasing their products of which 31 companies are from India including Bharat Fritz Werner, Forbes and Company, Jyoti CNC Automation. "More than 1,780 exhibitors from 41 countries had applied by the registration deadline of December 1, 2018. From India there were already 31 companies registered," Dr Wilfried Schafer, executive director of the EMO organiser VDW (Verein Deutscher Werkzeugmaschinenfabriken), said. All major manufacturers of production technology will be presenting their products and services in Hanover at the largest and most comprehensive exhibition of industrial production, he added. VDW is organising the event on behalf of the European Machine Tool Association Cecimo from Brussels, Belgium ..
Sops to farmers, SMEs may inflate fiscal deficit: Moody's
Recent policy measures announced by the Indian government raise the risk of fiscal slippage in absence of new revenue-boosting measures, global financial services major Moody's warned on Friday.Over the past month, the Central government has announced a range of policies to support the income of small enterprises and low-income households. It is also considering additional steps to support farmers facing financial distress."In the absence of new revenue-boosting measures, the policies will collectively make it harder for the Central government to achieve its fiscal consolidation objectives," said Moody's Investor Service."Meanwhile, meeting the short-term fiscal objectives through one-off sources of revenue and cuts in capital expenditure would denote low fiscal policy effectiveness."The measures come ahead of India's Parliamentary General Elections, likely to be held in April and May 2019. The authorities have presented them as permanent measures which would have a long-lasting ...
Market closes in negative territory
Indian equities did a U-turn on Friday after opening on a higher note and slumped as the session came to a close.The S&P BSE Sensex closed 169.56 points down at 36,025 while Nifty 50 slipped 69.25 points to settle at 10,780.Among the prominent losers were ICICI Bank, Maruti Suzuki and Zee Entertainment.The Sensex witnessed a high of 36,474.48 during the day but tumbled as Maruti reported over 17 per cent decline in net profit during third quarter results.Elsewhere in Asia, investors were nervous due to uncertainty over Brexit, a slowdown in global economy and escalating US-China trade war.
Maruti Suzuki reports sharp dip in Q3 earnings
Car manufacturer Maruti Suzuki on Friday reported a net profit of Rs 1,489 crore during the third quarter ending December 2018, down 17.2 per cent as compared to Rs 1,799 crore in the last corresponding quarter.The revenue from operations stood at Rs 19,668 crore as compared to Rs 19,283 crore during October to December 2017.The company reported sales of 428,643 vehicles in Q3 of 2018, marking a marginal decline of 0.6 per cent over the same period last year, the company said in a statement.Maruti Suzuki recently announced a price hike of up to Rs 10,000 for select models to offset the adverse impact of foreign exchange rates and an increase in commodity prices.Its shares crashed nearly 9 per cent in intra-day trading and closed at Rs 6,516.35 on Friday.