Page 1235 - Business Finance
India seeks market access for grapes, pomegranates, pearl millets from Vietnam
India has sought market access for grapes, pomegranates, pearl millets and anthurium, a kind of decorative flower, from Vietnam to boost exports. India has also sought a level-playing field for its pharmaceutical companies, easy registration approvals for meat processing units, and agreement on cooperation between certification agencies in the automobile sector, the Department of Commerce said in a tweet. These issues were discussed during the fourth Joint Trade Sub Commission between India and Vietnam at Hanoi Wednesday. "Both sides have agreed to enhance the trade in agriculture, marine products, pharma, engineering, textiles and services," the department added. India is the second-largest producer of fruits and vegetables in the world after China. Vietnam, Saudi Arabia, the UAE, the US and Malaysia are the top-five export destinations for Indian agricultural exports, accounting for about 80 per cent of India's exports. Importing norms for fresh fruits and vegetables are gradually ..
Offices of Videocon, NuPower Renewables raided - CBI source
MUMBAI (Reuters) - India's federal investigating agency raided four locations owned by Videocon Industries and NuPower Renewables, a source from the Central Bureau of Investigation (CBI) said on Thursday.
SEBI has no "view" on relaxing norms for Jet bailout
NEW DELHI (Reuters) - India's capital markets regulator said on Wednesday it had not expressed an opinion on giving any relaxation to cash-strapped carrier Jet Airways Ltd, which is struggling to finalise a bailout deal with its major shareholder Etihad Airways.
iKeva to open 15 new co-working centres
Co-working space provider iKeva on Thursday announced that it has raised an undisclosed amount from Meenakshi Group to set up 15 new centres in the next 12 months and strengthen its robust back-end processes and technology.
Japan to fund Bangladesh's first underground railroad
Japan has agreed to provide loans to construct Bangladesh's first underground railroad, the media reported on Thursday.
Sensex down 46 points,rupee gains
The Sensex declined 46 points and the Nifty traded marginally over the 10,800 mark during the afternoon trade session on Thursday over concerns of global growth and the ongoing earnings' season.
Huawei announces 5G smartphone based on own technology
Chinese tech giant Huawei has announced plans to release a next-generation smartphone based on its own technology instead of US components, stepping up efforts to compete directly with Western industry leaders. Thursday's announcement comes as Huawei Technologies Ltd., the world's biggest maker of network gear for phone companies, combats US warnings the company might be a security risk. Richard Yu, CEO of the company's consumer unit, said Huawei plans to unveil what it bills as the first foldable 5G smartphone next month. The phone is based Huawei's Kirin 980 chipset and Balong 5000 modem instead of chips from U.S. vendors. Developing its own mobile phone chips instead of using outsourced ones allows Huawei to keep more of its revenue and reduces the risk of disruption of U.S. supplies.
UltraTech Cement third-quarter profit slips on higher expenses
(Reuters) - India's UltraTech Cement Ltd posted on Thursday a 13.7 percent drop in net profit, dented by higher expenses.
NIIT Q3 net profit dips 1.5 pc to Rs 19.4 cr
Skills and talent development firm NIIT Ltd Thursday said its consolidated net profit has declined 1.5 per cent to Rs 19.4 crore in the December 2018 quarter, owing to adverse forex impact. The company had posted a net profit of Rs 19.7 crore in October-December 2017, NIIT said in a statement. The company said it saw an adverse foreign exchange (forex) impact of Rs 5.2 crore in the quarter under review, "predominantly due to restatement of receivables". Its consolidated net revenue grew 8.7 per cent to Rs 227.8 crore in the reported quarter from Rs 209.4 crore in the year-ago period. "We have raised overall growth and profit trajectory with both large businesses building momentum on key parameters," NIIT Vice-Chairman and Managing Director Vijay K Thadani said. He added that NIIT's Corporate Learning business (CLG) has grown 25 per cent year-on-year to Rs 161.4 crore with a stable operating margin. CLG's focus on Life Sciences resulted in signing of two multi-year Managed Training ...
China to become world's biggest retail market in 2019: Report
China is set to overtake the United States as the world's biggest retail market in 2019, news agency Xinhua said citing a report.Research firm eMarketer in a report published on Wednesday predicted that China's total retail sales will grow 7.5 percent to reach $5.636 trillion in 2019, while that of the United States will grow 3.3 percent to $5.529 trillion.The sale boom is a result of China's rising incomes and thriving e-commerce, the report said."In recent years, consumers in China have experienced rising incomes, catapulting millions into the new middle class," said Monica Peart, senior forecasting director at eMarketer. "The result has been marked rise in purchasing power and average spending per person."e-commerce is a major driver of China's retail economy, accounting for almost one fifth of the country's total retail sales in 2018, according to the National Bureau of Statistics.On China's annual shopping holiday, Singles Day, e-commerce giant Alibaba scooped up over 10 billion .
Gold prices held steady at Rs 33,210 per 10 g
Gold prices held steady at Rs 33,210 per 10 gram at the bullion market Thursday in scattered deals even as the precious metal weakened overseas, according to the All India Sarafa Association. Silver prices, however, turned weak and fell by Rs 210 to Rs 39,950 per kg due to reduced offtake. Traders attributed the fall in silver to subdued demand from industrial units and coin makers at the local spot market. Globally, gold fell 0.09 per cent to USD 1,282.10 an ounce and silver by 0.33 per cent to USD 15.33 an ounce in New York. In the national capital, silver ready lost Rs 210 to Rs 39,950 per kg while weekly delivery fell rather sharply by Rs 993 to Rs 38,994 per kg. Silver coins, however, held flat at Rs 77,000 for buying and Rs 78,000 selling of 100 pieces. On the other hand, gold of 99.9 and 99.5 per cent purity, in thin trading, ended flat at Rs 33,210 and Rs 33,060 per ten gram, respectively. The precious metal had lost Rs 115 Wednesday. Sovereign gold, also remained unaltered at
Japan Airlines to start daily Bengaluru-Tokyo service from next year
Japan Airlines (JAL) on Thursday said that it will start a daily non-stop flight between Tokyo and Bengaluru from the summer of 2020. On Wednesday, Japan's largest airline All Nippon Airways (ANA) announced that it is going to start a direct flight from Tokyo to Chennai in winter this year. A non-stop flight does not have any intermediate stops unlike the "direct" flight. JAL in a statement on Thursday said as direct flights are currently not in service from Japan, the launch of the route will provide customers from North America a new option for travelling to the southern region of India. "The IT industry is thriving in Bengaluru and is known as the Silicon Valley of India, where global corporations focusing on telecommunications, biotechnology, and autombiles are strategically based in this unique city," the statement said. Ambassador of Japan to India Kenji Hiramatsu also said Wednesday in Chennai that ANA would launch direct flight services between Chennai and Tokyo. "All Nippon .
MP seeks global investment as India's 'emerging economic tiger'
Promoting itself as "India's emerging economic tiger", Madhya Pradesh government Thursday invited global investors to the country's biggest state with promise of all necessary infrastructure and a favourable business ecosystem. Chief Minister Kamal Nath said Madhya Pradesh is not a fully urbanised state and it was largely rural-focussed mainly on agriculture. Terming job creation and agriculture as his main focus areas, the senior Congress leader said he wants to ensure that agriculture is linked to the industrial growth in the state and the new industries that come up create employment in a big way. He said there is a deep-rooted frustration over jobs, not just in Madhya Pradesh but in the entire country, and this can create a big social problem if not tackled immediately. He was addressing investors at a session here on the sidelines of the WEF annual meeting. The 'Invest Madhya Pradesh' session was organised by the Madhya Pradesh government and leading industry chamber CII to ...
Oil sector reports negative growth for December 2018
Crude oil production during December 2018 dropped 10.13 per cent below the target at 2,862.35 thousand metric tonnes (TMT) and 4.3 per cent lower in the year-on period, the government said on Thursday.Cumulative crude oil production during April to December last year was 25,937.54 TMT, down 5.83 per cent of the target and 3.7 per cent lower than production during corresponding period of last year, according to a press release issued by the Ministry of Petroleum and Natural Gas.Crude oil production by ONGC was 1,761.22 TMT, down 11.85 per cent than the monthly target and 5.42 per cent when compared with December 2017. Cumulative crude oil production by ONGC during April to December was 15,908.11 TMT which is 6.93 per cent lower than target and down by 5.58 per cent than production during corresponding period of last year.Crude oil production by OIL during was 274.96 TMT which is 16.45 per cent lower than monthly target and 4.66 per cent lower when compared with December 2017. ...
Relief package for farmers soon: Minister
Minister of State for Agriculture Parshottam Rupala on Thursday said a big relief package for the country's farmers will soon be announced.
Reliance Entertainment appoints Shibasish Sarkar as Group CEO - Content, Digital, Gaming
Anil D. Ambani owned Reliance Entertainment on Thursday announced the appointment of Shibasish Sarkar as Group CEO - Content, Digital and Gaming.
CBI conducts raids in Videocon-ICICI Bank loan case
The CBI on Thursday raided four locations here in connection with a Rs 3,250 crore loan involving the Videocon Group and ICICI Bank, sources said here.
80% Indian employees think their workplace data at hacking risk: Accenture
While 74 per cent of Indian workers say new technologies to collect workforce data put trust at risk, recent data scandals make 80 per cent feel that their employee information might be hacked too, a new report from Accenture said on Thursday.
CBI files FIR against Chanda Kochhar's husband, Videocon group
The CBI on Thursday said it has registered a case against Deepak Kochhar, husband of former ICICI Bank MD and CEO Chanda Kochhar, in connection with the Rs 3,250 crore loan to the Videocon Group given in 2012.
Emami Ltd drops for fifth straight session
Emami Ltd is quoting at Rs 414.65, down 0.78% on the day as on 13:19 IST on the NSE. The stock is up for a third straight session in a row in last one year as compared to a 2.22% down 0.12%. in NIFTY and a 8.68% down 32.83% in the Nifty FMCG index.