Page 1249 - Business Finance
Nitesh Estates to reduce debt by Rs 700 cr in next 180 days
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Gin, coffee sales give Wetherspoon Christmas cheer
(Reuters) - British pub operator JD Wetherspoon Plc said it enjoyed strong sales over the Christmas period, helped by Britons' new-found fondness for gin and solid demand for coffee drinks.
Sensex falls sharply as ITC drags
(Reuters) - Indian shares closed lower on Wednesday, dragged by a sharp fall in ITC Ltd after the cigarette-maker reported quarterly results, while IT and financial stocks also contributed to the losses.
White House denies reports of cancelled trade meeting
The White House said high-level trade talks with Beijing were proceeding uninterrupted, quickly rebutting media reports that progress toward resolving their trade war had faltered. Chinese Vice Premier Liu He is to meet his US counterparts in Washington next week as the two sides work to resolve their trade disagreements by March 1, when a 90-day truce is due to expire, allowing US import duties on Chinese goods to increase sharply. Washington and Beijing imposed tit-for-tat tariffs on more than USD 360 billion worth of goods in two-way trade last year. Trump initiated the trade war because of complaints over unfair Chinese trade practices -- concerns shared by the European Union, Japan and others. The Financial Times and CNBC both reported Tuesday afternoon that Washington had canceled a preliminary meeting set for this week ahead of Liu's visit. American officials had reportedly cited a lack of progress on the most difficult issues in the trade dispute -- including allegedly forced .
'Consumer first' approach driving innovation: Sanjiv Bajaj
Hailing technology as a great enabler for providing right products and services, Bajaj Finserv chief Sanjiv Bajaj on Wednesday said his company is following "consumer first" approach to innovate the way it does business. At a session on 'India 4.0: Making technology work for all' at the WEF annual meeting 2019, Bajaj said his company now provides consumer loans on the spot and that has been possible because of right use of technology and a right approach to do business. "Technology has become a big enabler for companies like ours in terms of providing right products and services to customers. "A typical consumer loan used to take 3-4 days earlier, but my company went down to the root level and found that consumers wanted to buy that plasma TV immediately to watch a cricket match or something, rather than waiting for three or four days," Bajaj said. He also said that a lot of innovation comes from thinking about the consumers first and that is happening a lot in India. At the same ...
InterGlobe Aviation third-quarter profit slumps 75 percent
(Reuters) - InterGlobe Aviation Ltd, owner of India's biggest airline by market share IndiGo, reported a nearly 75 percent slump in third-quarter profit on Wednesday, hurt by higher crude prices and rising competition.
Board of Vodafone Idea approves fund raising up to Rs 25K cr through rights issue
At meeting held on 23 January 2019
Infosys partners with HPE to accelerate Enterprise Digital Transformation
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TN Global Investors meet attracts over Rs 2 lakh cr investment
Tamil Nadu Chief Minister K. Palaniswami on Wednesday said the state has attracted over Rs 200,000 crore of investments during the Global Investors Meet-2019 (GIM-2019).
Sensex melts 336 pts, Nifty below 10,900 on weak global cues
Benchmark Sensex sank over 336 points to end at 36,108.47 in choppy trade Wednesday following tepid sentiment in other Asian bourses on mounting signs of slowing global growth and concerns over the lingering China-US trade dispute. Traders said market remained range-bound for the better part of the session as investors kept their exposure at a low ebb due to weak global cues. Towards the fag-end, the selling pressure gathered momentum after European markets opened in the negative zone. The 30-share Sensex opened on a firm note at 36,494.12 and advanced to touch a high of 36,521.47, largely on drop in global crude prices and a stronger rupee. However, it succumbed to a late-session sell-off and finally ended at 36,108.75, down by 336.17 points, or 0.92 per cent. The gauge had lost 134.32 points in the previous session. The NSE Nifty too tumbled 91.25 points, or 0.84 per cent, to close at 10,831.50 after moving between 10,811.95 and 10,944.75. Meanwhile, foreign portfolio investors ...
Key WTO members to meet in Davos to discuss reform measures
Key members of the World Trade Organization (WTO), including from India and South Korea, will meet on the sidelines of the World Economic Forum summit in Davos on Thursday and Friday to discuss reform measures of the multilateral body, an official said. Commerce Secretary Anup Wadhawan will represent India in the mini-ministerial meeting of the WTO, the official said. The meeting move assumes significance in the backdrop of growing protectionism in the global trade, hurting the confidence of the WTO. Certain members want to further strengthen the 164-member body to make it more effective. WTO chief Roberto Azevedo had said the US has some concerns on the way the global trade body functions. The US has stated that the world has changed since the formation of the WTO in 1995 and wants some upgrade and reforms in the Geneva-based body. Commerce and Industry Minister Suresh Prabhu had earlier stated that India would prepare an agenda for the meeting in consultation with developed as well .
Japan's younger Watanabes seek more diverse portfolios
TOKYO (Reuters) - For years, Japan's retail currency investors were known as "Mrs Watanabes", a reference to the metaphorical housewife who invests family savings mostly in foreign exchange. Now, a younger generation of women is looking at a wider asset range in which to park investments.
Magma Fincorp targets 20% business growth in Haryana during FY19
Mumbai-based Magma Fincorp Ltd Wednesday said it is eyeing a 20 per cent growth in its business in Haryana during the current financial year. Magma disbursed Rs 332 crore in 2017-18 in the state. "Magma disbursed Rs 203 crore in the April-September period in 2018-19. The second half contributes 60 per cent of the annual volume, hence, I am confident that we will achieve higher-than-expected growth in the state," said Sanjiv Jha, national head, ABF Business, Magma Fincorp. In a release, the asset finance company said it would focus on the asset-backed finance segments such as used vehicle loan, commercial vehicle, tractor finance and car loans to drive the business. With opening a new branch in Sirsa, the company now has a network of 16 in the state. Magma is focused on the rural and semi-urban sector with a coverage across 306 branches in the company. It has a base of around 1.1 million active customers and manages a loan book of Rs 16,623 crore.
Indian economy grows irrespective of govt in power: Nath
India has shown to the world that it can grow irrespective of the government in power, but there is an urgent need to ensure all-inclusive economic expansion by addressing the twin problem of unemployment and farmers' distress, senior Congress leader Kamal Nath said Wednesday. Addressing a session on emerging market outlook here at the WEF Annual Meeting, Nath said India is heading towards becoming the world's second largest economy but that is happening because of lot many factors. "India grows irrespective of the government policies and is driven by its tremendously aspirational young generation," the Chief Minister of one of the India's largest state Madhya Pradesh said. He, however, cautioned that there is huge unemployment and that coupled with issues faced by farmers are the biggest problems faced by India. Any policy decision should focus on these issues to unlock India's huge growth potential, Nath who had held various ministerial positions at the central government said. On ..
ITC drops after declaring Q3 result
ITC lost 3.88% to Rs 278.50 at 15:09 IST on BSE after net profit rose 3.84% to Rs 3209.07 crore on 15.79% increase in total income to Rs 12267.65 crore in Q3 December 2018 over Q3 December 2017.
Property consultant JLL India reenters housing brokerage business
Global property consultant JLL Wednesday said it has reentered housing brokerage business in India, almost two years after it sold this business, to tap huge potential in the residential segment. In April 2017, JLL had announced the sale of India residential brokerage arm to its former country head Anuj Puri for an undisclosed amount. Puri, who quit JLL India in February 2017 after serving 10 years in the company, bought 'Jones Lang LaSalle Residential Pvt Ltd (JLLR)' and later renamed the company as 'ANAROCK'. Post implementation of realty law RERA, housing brokerage business is becoming organised. PropTiger, ANAROCK, Quikr, Square Yards, 360 Realtors, Investors Clinic and Wealth Clinic are among organised players in the housing brokerage business. JLL India said in a statement that it has launched its "residential brokerage business that will offer a bouquet of technology-enabled advisory and transaction services to home buyers and developers." This business will be led by industry .
ICICI Prudential Life Insurance Company Ltd leads losers in 'A' group
Deepak Fertilizers & Petrochemicals Corp Ltd, Reliance Nippon Life Asset Management Ltd, Repco Home Finance Ltd and BASF India Ltd are among the other losers in the BSE's 'A' group today, 23 January 2019.
Timeline: Jet Airways remains in an air pocket
(Reuters) - Cash-strapped Jet Airways Ltd has flown straight into a storm, resulting in a major setback for India's largest full-service airline that could shake up the country's aviation industry.
China's CNOOC boosts spending target to highest in five years
BEIJING/SINGAPORE (Reuters) - China's state-owned offshore oil and gas producer CNOOC Ltd set its highest capital expenditure target since 2014, responding to the government's call for oil companies to build up the nation's petroleum output and reserves.
Deutsche received information requests from authorities in Danske case
FRANKFURT (Reuters) - Deutsche Bank said on Wednesday that it received several requests for information from regulators and law enforcement agencies around the world relating to the Dankse case.