Page 1305 - Business Finance
Ready to infuse up to Rs 700 cr in Jet Airways subject to conditions, says Naresh Goyal
Jet Airways Chairman Naresh Goyal has told the State Bank of India (SBI) that he is ready to invest up to Rs 700 crore in the airline on the condition that his stake does not fall below 25 per cent. Goyal's offer comes against the backdrop of strategic partner Etihad reportedly putting forward strict conditions, including that Goyal should give up control, for infusing funds into the crisis-hit carrier. In a letter to SBI Chairman Rajnish Kumar, Goyal said he is writing with reference to the resolution plan under discussion and in view of Etihad's position, "despite the significant cash crunch and imminent grounding, which the airline is facing". Goyal said he is committed to an "infusion of funds into the company to the extent of Rs 700 crore" and pledging all his shares. This is subject to the condition that his shareholding post such infusion is at least 25 per cent, he said in the letter which was seen by PTI. "Should this not be possible, then I would not be able to infuse any ...
Singapore's Scoot airline to expand service in India
Low-cost airline Scoot, a part of the Singapore Airlines Group, on Thursday announced the addition of three new south Indian cities -- Coimbatore, Trivandrum and Visakhapatnam -- to its global route map.
Gold up 0.2 pc on positive global cues
Gold prices were up 0.2 per cent at Rs 32,350 per 10 grams in futures trade Thursday as speculators raised their bets amid a firm global trend. At the Multi Commodity Exchange, gold for delivery in February was trading higher by Rs 64, or 0.2 per cent, at Rs 32,350 per 10 grams with a business turnover of 11,495 lots. The yellow metal for delivery in April gained Rs 55, or 0.17 per cent, to trade at Rs 32,475 per 10 grams in 9,043 lots. Market analysts attributed the rise in gold prices to positive global cues. Meanwhile, in international market, gold was trading 0.06 per cent higher at USD 1,292.32 an ounce in Singapore.
Datamatics TruBot Wins the CIO CHOICE 2019 Recognition for Robotic Process Automation
/ -- Datamatics Global Services Ltd. (DGSL), a global IT & BPM company, today announced that it has been recognized by CIO CHOICE 2019 in the Robotic Process Automation category for its product TruBot. CIO CHOICE is a unique platform that recognizes and honours products, services and solutions on the back of stated preferences of CIOs and Information and Communication Technologies (ICT) decision makers. The recognition is bestowed on the basis of pan-India independent voting by CIOs. CIO CHOICE is the largest and only online voting platform, where CIOs determine and choose the products that have earned their vote of confidence. There is a distinguished Advisory Panel, comprising of CIOs from across verticals, that guides the entire process, with KPMG as the Knowledge Partner. Datamatics is a leading provider of Robotic Process Automation Software. The company's enterprise grade RPA product, TruBot is a versatile, multi-skilled bot that allows business users without any ...
Alstom expects to complete Siemens tie-up in first-half of 2019
PARIS (Reuters) - French transport infrastructure group Alstom said it was making progress on its planned tie-up with Germany's Siemens, as the pair fight to win over regulators concerned that the deal could stifle competition in the sector.
Clothing retailer Gymboree files for bankruptcy again
(Reuters) - Children's clothing retailer Gymboree Group Inc filed for Chapter 11 bankruptcy protection, the second time in almost two years, and said on Wednesday it will close more than 800 Gymboree and Crazy 8 stores.
Market trims gains
Volatility struck bourses in early afternoon trade as the key benchmark indices erased intraday gains and were trading a tad above the flat line. At 12:21 IST, the barometer index, the S&P BSE Sensex, was up 5.57 points or 0.02% at 36,326.86. The Nifty 50 index was up 4.15 points or 0.04% at 10,894.45. Realty stocks saw mixed trend.
Federal Bank third-quarter profit jumps 28 percent, beats estimates
(Reuters) - Private-sector lender Federal Bank Ltd posted a 28.3 percent jump in third-quarter profit on Thursday, as a healthy increase in interest income helped offset the impact of higher provisions.
SocGen's fourth-quarter results to be hit by tough market conditions
PARIS (Reuters) - French bank Societe Generale said its fourth-quarter results would be affected by tough market conditions and the impact of some asset sales, as lenders around the world grapple with financial market volatility.
Alstom says it is making progress on planned tie-up with Siemens
PARIS (Reuters) - French transport infrastructure group Alstom said it was making progress on its planned tie-up with Germany's Siemens, as the pair fight to win over regulators concerned that the deal could stifle competition in the sector.
MasterCard tweaks policy to disable auto-billing after free trials
We all have had at least one instance of subscribing to some service which is free for a trial period but forgot to unsubscribe before the billing begins. MasterCard is now changing how these things work, for the better.The financial company has introduced a new policy as part of which, merchants will no longer be able to auto-bill you even if you forget to hit 'unsubscribe', Engadget reported.The merchants will now be required to get authorization from the user through text or email notification before charging them. It will also require them to provide users with monthly updates with pricing and clear instructions on how to cancel any subscription.
Panacea Biotec Ltd leads gainers in 'B' group
Speciality Restaurants Ltd, 3i Infotech Ltd, Nu Tek India Ltd and Ajmera Realty & Infra India Ltd are among the other gainers in the BSE's 'B' group today, 17 January 2019.
Sonata Software Ltd leads gainers in 'A' group
Sobha Ltd, Dr Lal Pathlabs Ltd, Rajesh Exports Ltd and Vakrangee Ltd are among the other gainers in the BSE's 'A' group today, 17 January 2019.
Google increases price of G Suite
Google's G Suite will now cost you dearer as the company has increased the prices of its service for G Suite Basic and G Suite Business.Until now, the productivity tools by Google were free. The company started charging for the premium edition at USD 50 per year since 2007, adding a USD 5 per month option for users of the advanced versions.According to Fast Company, the cost of the service is now up from USD 5 to USD 6 a month per user. G Suite Business, that allows for retention policies for email, is now up from USD 10 to USD 12. G Suite Enterprise, however, remains unchanged at USD 25 per user per month.The new prices will be effective from April 2, and existing subscribers will only pay the higher price when their current subscriptions end.The reason for the price hike is Google's aggressive approach towards adding new apps, features, and benefits, to compete Microsoft's Office Suite.
Focus: Trump tariffs force tough choices at U.S. auto suppliers
WYOMING, Mich. (Reuters) - Bob Roth makes no bones about his feelings towards U.S. manufacturing.
Oil stocks gain
Stocks traded in a small range amid positive bias in mid-morning trade. At 11:28 IST, the barometer index, the S&P BSE Sensex, was up 90.86 points or 0.25% at 36,412.15. The Nifty 50 index was up 22.75 points or 0.21% at 10,913.05. Oil stocks gained.
TSMC meets market forecasts with 0.7 percent fourth-quarter net profit rise
TAIPEI (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC) posted on Thursday a quarterly net profit that met market expectations, amid fears that sluggish demand for smartphones could hurt the world's largest contract chipmaker's bottom line.
Lenders considering resolution plan for Jet Airways: SBI
State Bank of India (SBI) Thursday said lenders are considering a resolution plan for Jet Airways to ensure long-term viability of the debt-laden company. The SBI statement comes a day after the crisis-hit airline said discussions were "progressing well" with stakeholders on a comprehensive resolution plan that also contemplates equity infusion and consequent changes in its board of directors. There are rising concerns over financial health of Jet Airways, whose shares have also taken a beating at stock exchanges. We would like to state that lenders are considering a restructuring plan under the RBI framework for resolution of stressed assets that would ensure a long-term viability of the company," SBI said in a statement. It said the restructuring plan for the cash-strapped airline would need approval from boards of lenders. "Any such plan would be subject to approval of boards of the lenders and subject to adherence and clearance, if required, from the RBI and/or Sebi (takeover ...
L&T Infotech gains after announcing acquisition
Larsen & Toubro Infotech rose 1.27% to Rs 1,790.60 at 10:49 IST on BSE after the company acquired Ruletronics, a pure-play Pega consulting and implementation company with offices in the UK, USA, and India.
Volumes spurt at Power Grid Corporation of India Ltd counter
Power Grid Corporation of India Ltd registered volume of 28.15 lakh shares by 10:48 IST on BSE, a 39.37 fold spurt over two-week average daily volume of 71489 shares