Page 1219 - Business Finance

Indian lawyer calls for stronger legal institutions, reforming norms for foreign investment at WEF

Investors watching India closely are voicing concerns over arbitrary changes in regulations which hint at growing crony capitalism, Indian lawyer Pratibha Jain has said at the World Economic Forum (WEF) in Davos. Investors look for two main things -- clarity and certainty of laws -- as society based on the rule of law is better placed to attract foreign investments, said Jain, founding partner and head (New Delhi) of Nishith Desai Associates, at the Caspian Week at the 2019 WEF at Davos in Switzerland. "Businesses that look for investment see a strong and independent judiciary, stable democracy with free and fair elections and the passing of power to a new government, independent central bank and other financial institutions that work based on laws created by the legislature but which stand the test of Indian constitution and judicial processes," said a statement from Nishith Desai Associates quoting Jain. She said the fact that the Indian government is the largest litigant in the ...

Nightlife industry in capital radiating in all directions: Riyaaz Amlani

Restaurateur Riyaaz Amlani says that the nightlife industry in the capital is radiating in all directions and people want more of everything.

India to grow at 7-7.5% over next few years: PM's Economic Advisory Council

Despite global and structural challenges, India will continue to grow in the 7-7.5 per cent range in the next few years, one of the highest growth rates in the world which could further go up by at least 1 per cent through reforms designed to address structural problems, the Prime Minister's Economic Advisory Council (EAC-PM) said on Friday.

Earnings lift world stocks, euro recovers from dovish ECB comments

LONDON (Reuters) - World stock markets inched higher 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.

Hyundai Motor to cut China jobs after sales slump

SEOUL/BEIJING (Reuters) - Hyundai Motor said its Chinese joint venture (JV) is accepting voluntary retirements and reviewing various "optimization plans" at its factories following a slump in car sales in the key market.

Pre-poll policies, promises raise risks of fiscal slippage: Moody's

Pre-election measures and promises made by the Narendra Modi government to support farmers, small enterprises and low-income households will derail the country's fiscal consolidation roadmap, a global rating agency said on Friday.

Alibaba to continue to invest aggressively: executive

HONG KONG (Reuters) - Chinese e-commerce giant Alibaba Group Holding Ltd will continue to invest aggressively despite an uncertain business environment, a senior company executive said at a Reuters BreakingViews event on Friday.

Maruti Suzuki third-quarter profit misses estimate; shares plunge

(Reuters) - India's top-selling car maker Maruti Suzuki India Ltd posted a lower-than-expected profit for the third quarter, sending its shares to a 21-month low.

Seamless mobility to create 40% additional revenue by 2030

Seamless mobility for transport and travel is likely to create additional revenue of about 40 per cent by 2030, compared to the current revenue levels, a McKinsey report said on Friday.

Bahrain seeks to strengthen trade ties with India, promises huge investment opportunities

Pitching itself as a gateway to the Gulf region, Bahrain is making a big pitch here at the WEF summit to attract investments and is promising huge opportunities for Indian investors. Simon Galpin, Managing Director, Bahrain Economic Development Board (EDB), said Bahrain also sees fourth industrial revolution (4IR) as a great opportunity that would help its economy be dynamic and agile. "We are seeking to capitalise on the 4IR opportunity by introducing a series of reforms across the economy, particularly in digitising industries such as finance, but also in education and logistics for example," Galpin told PTI during the annual meeting of the World Economic Forum (WEF). He said Davos attendees view Bahrain in a very positive light and are seeing the vast potential the kingdom offers for overseas investors and are often surprised by the ease at which companies can set up their operations. On the response of Indian leaders he met here, he said India and Bahrain have a long history of ...

Maruti shares slump 9% post Q3 earnings

Shares of Maruti Suzuki India Friday slumped almost 9 per cent after the company reported a 17.21 per cent decline in net profit for the third quarter ended December 2018. The stock dived 8.77 per cent to Rs 6,420, its 52-week low, on the BSE. At the National Stock Exchange (NSE), shares of the company tanked 8.95 per cent to hit a one-year low of Rs 6,410 apiece. The stock was the worst performer among the blue-chips on both the exchanges during the fag-end of trade. The country's largest car maker Friday reported a 17.21 per cent decline in net profit at Rs 1,489.3 crore for the December 2018 quarter, against a net profit of Rs 1,799 crore in the year-ago period. Total income during the quarter stood at Rs 20,585.6 crore, compared with Rs 19,528.1 crore a year ago.

Linde India Ltd leads losers in 'A' group

Zee Entertainment Enterprises Ltd, Dish TV India Ltd, Graphite India Ltd and Himadri Speciality Chemical Ltd are among the other losers in the BSE's 'A' group today, 25 January 2019.

Thumb nail sketch of key officers involved in making budget

From old hands at making budget to a recent inductee after an eventful tenure in UIADI, top brass of the Finance Ministry are involved in the making of the Union Budget 2019-20 to be presented in Parliament on February 1, which is unlikely to be a mere vote-on-account in an election year.

GSFC Q3 net profit down 50.42 pc

Gujarat State Fertilizers and Chemicals Ltd (GSFC) Friday reported a 50.42 per cent drop in its standalone net profit to Rs 98.94 crore during the third quarter of the current fiscal on higher expenses. The net profit had remained higher at Rs 199.57 crore in the year-ago period due to one-time write-off of Rs 100 crore taxes, the company said in a BSE filing. The net profit during the December 2018 quarter took a beating due to higher expenses despite strong sales. The phosphatic fertilisers maker's overall expenses rose to Rs 1,883.40 crore during the quarter from Rs 1,422.75 crore in the corresponding period last year. Net income increased to Rs 2,013.91 crore during October-December 2018, against Rs 1,545.72 crore in the year-ago period. GSFC Managing Director Sujit Gulati said: "The company has shown a good improvement in fertiliser sales volume of 20 per cent during the quarter, on improved market reach and leveraging its marketing network." On the industrial products front ...

India gears up for drone revolution, Andhra to pilot new open source guide for govts

In a major step towards drone revolution in India, Andhra Pradesh on Friday became the country's first state to pilot the newly launched 'Advanced Drone Operators Toolkit', an open source guide for governments wanting to scale drone delivery. The state government announced at the World Economic Forum's Davos Summit 2019 that it will start testing the policy frameworks developed in the new toolkit to enable state-wide drone delivery operations. "Andhra Pradesh is proud to be the first government partner to implement the Advanced Drone Operations Toolkit," the state's Minister for Information Technology and Rural Development Lokesh Nara said. "We look forward to leveraging the insights from the toolkit to implement a drone delivery program that will bring key medical supplies to communities across our state," he added. The open source guide from the World Economic Forum (WEF), which describes itself as an international organisation for public-private cooperation, was launched at its ...

India is all set to be one of the top three economic powers of the world in the next 10 to 15 years: Vice President

The Vice President quoted the Sustainable Development Goals 2030 which emphasized upon the need for nations to focus more on equitable economic growth and to reduce inequalities and said that the Government of India has embarked on a similar path in the last 4 years by having Sab ka Saath, Sab ka Vikas (Assistance to everyone and development of each individual) as the overarching goal.

Maruti Suzuki skids after Q3 results

Maruti Suzuki India fell 6.33% to Rs 6591.80 at 14:44 IST on BSE after the company announced Q3 December 2018 results during trading hours today, 25 January 2019.

Zee Learn Ltd leads losers in 'B' group

Kesar Terminals & Infrastructure Ltd, Gallantt Ispat Ltd, Essel Propack Ltd and EMCO Ltd are among the other losers in the BSE's 'B' group today, 25 January 2019.

Volumes jump at Reliance Home Finance Ltd counter

Reliance Home Finance Ltd saw volume of 22.33 lakh shares by 14:14 IST on NSE, a 13.43 fold spurt over two-week average daily volume of 1.66 lakh shares

Maruti Suzuki third-quarter profit drops 17 percent, misses consensus

(Reuters) - Maruti Suzuki India Ltd posted a 17.2 percent drop in third-quarter profit on Friday, missing consensus estimate, as rising commodity prices weighed on demand.