Page 1332 - Business Finance
Swiss watchmakers brace for slowing Chinese demand
GENEVA (Reuters) - Swiss watchmakers are starting to see signs of slowing spending from Chinese tourists, but are still banking on demand shifting to mainland China to fuel growth this year, several high-end brands said on Monday.
Pharmaceutical sector focus of India-Uzbekistan ties
The pharmaceutical industry will be the core of ties between India and Uzbekistan as the Central Asian nation's President Shavkat Mirziyoyev visits India from January 18 to 20 for the Vibrant Gujarat Summit.
Global Markets - Weak China trade hits stocks, prompts risk-off trade
NEW YORK (Reuters) - World stock indexes fell on Monday after a shock contraction in Chinese trade reignited fears of a sharper slowdown in global growth and caused investors to sell riskier assets.
FCA reviewing Italy plan after new taxes for polluting cars
DETROIT (Reuters) - Fiat Chrysler Automobiles NV is reviewing its investment plan for Italy after the country approved taxes on the purchase of larger gasoline and diesel cars, Chief Executive Officer Mike Manley said on Monday.
South Korea imports no Iranian crude for December: customs
South Korea did not import crude oil from Iran in December, compared with 1.1 million tonnes imported a year ago, preliminary data from Korea Customs Service showed on Tuesday.
Tech stocks pull Wall Street lower after China data
(Reuters) - Technology shares pulled Wall Street lower on Monday, after an unexpected drop in China's exports in December reignited worries of a slowdown in global economic growth.
Gold rises as weak Chinese trade data revives growth concerns
BENGALURU (Reuters) - Gold prices rose on Monday, with investors seeking safety as equities slipped after weak Chinese trade data dented risk sentiment and rekindled fears of a global economic slowdown.
RBI imposes Rs 1 cr penalty on Bajaj Finance
The Reserve Bank of India has imposed a penalty of Rs 1 crore on Bajaj Finance for deficiencies in regulatory compliance.
Oil falls 1 percent on concerns about China slowdown
NEW YORK (Reuters) - Oil prices fell about 1 percent on Monday, pressured by data showing weakening imports and exports in China that raised new worries about a global economic slowdown hurting crude demand.
HSBC settles FX deals worth $250 billion on blockchain in last year
LONDON (Reuters) - HSBC has settled $250 billion worth of forex trades using blockchain in the last year, it said on Monday, suggesting the heavily hyped technology is gaining traction in a sector until now hesitant to embrace it.
No. 1 US utility PG&E prepares bankruptcy filing after California wildfires
(Reuters) - PG&E Corp, owner of the biggest U.S. power utility by customers, said on Monday it is preparing to file for Chapter 11 bankruptcy protection as soon as this month amid pressure from potentially crushing liabilities linked to California's catastrophic wildfires in 2017 and 2018.
Fiat Chrysler reviews Italy plan after new taxes on polluting cars
DETROIT (Reuters) - Fiat Chrysler (FCA) is reviewing its investment plan for Italy after the country approved taxes on the purchase of larger petrol and diesel cars, CEO Mike Manley said on Monday.
Newmont takes top gold producer spot with $10 billion Goldcorp buy
(Reuters) - Newmont Mining Corp said on Monday it would buy smaller rival Goldcorp Inc for $10 billion, creating the world's biggest gold producer in the face of dwindling easy-to-find reserves of the precious metal.
10% per cent quota law unwanted, will achieve close to nothing: Kaushik Basu
The new law providing 10 per cent reservation to economically weaker general category people in education and government jobs was "unwanted" and it could achieve "close to nothing" former Chief Economic Adviser to the Union finance ministry, Kaushik Basu, said here on Monday.
Fintech firms want to shake up banking, and that worries the Fed
WASHINGTON (Reuters) - The U.S. Federal Reserve is wary of giving "fintech" firms such as OnDeck Capital Inc ONDK.N or Kabbage Inc. access to the country's financial infrastructure, putting the central bank at odds with other regulators looking to bring them into the fold.
Defence Ministry expects over Rs 4,000 cr investment in Tamil Nadu defence corridor
The Defence Ministry is expecting an investment of over Rs 4,000 crore in the Defence Industrial corridor in Tamil Nadu, which will be launched on January 20."The Defence industrial corridor will be launched on January 20 in which we are expecting major investment announcements," Secretary, Defence Production, Ajay Kumar said here on Monday.At the corridor, which will be launched by Defence Minister Nirmala Sitharaman, several products would be unveiled along with the setting up of a defence innovation hub at Coimbatore.The defence corridor in Uttar Pradesh was launched last year where DPSUs and private sector companies have announced investments of over Ra 4,000 crore.Asked whether big corporates like Anil Ambani-led Reliance Industries and Adani Group were taking part in the corridor, Kumar said that "Ambani is not participating" as far as he knows.Finance Minister Arun Jaitley, in his budget speech on February 2 last year, had announced that two defence industrial production ...
Russia's Alrosa diamond company to launch in Zimbabwe
Russia's Alrosa, the world's leading producer of diamonds, announced Monday it plans to launch in Zimbabwe on the eve of talks in Moscow between the country's president and Vladimir Putin. "With support of the government of Zimbabwe, the company will develop new mining operations in the country," Alrosa said in a statement. "This company will implement projects for exploration and mining operations with a view to establish joint diamond and other ore mining enterprises," it said in the English-language release. "Within the next month ALROSA's experts, including geologists and mining engineers will arrive in the country to start the operations." Zimbabwean leader Emmerson Mnangagwa meanwhile told journalists he believed the country could make a "significant" participation to the diamond industry. "We know we have opened a small window to foreign countries to participate in our industry," he said ahead of talks with his Russian counterpart on Tuesday. In March, Russian Foreign Minister .
Parrikar lays foundation stone for school complex in Cujira
Goa Chief Minister Manohar Parrikar on Monday laid the foundation stone for the infrastructure works of a school complex, the Pandit Deendayal Upadhyaya Vidhya Sankul, at Cujira.The works will include the creation of new access road, improved parking lot and sewage treatment plant, a statement from the chief minister's office confirmed. The ceremony was held at the Chief Minister's office here.Parrikar also inaugurated the Single Window portal of the Goa Investment Promotion and Facilitation Board. The portal is a reflection of the state government's commitment to promoting ease of doing business in Goa and is a one-stop shop for all approvals required by industries.The Single Window portal is a step towards providing a "hassle-free experience to its investors and encourage growth of industry".The Chief Minister also visited the third Mandovi Bridge, which is a part of the set of bridges connecting Panaji, the state's administrative capital, and Porvorim, the state's legislative ...
Retail inflation eases to 2.19 pc in December
In a major relief to consumers, India's retail inflation rate showed a downward trend, touching an 18-month low of 2.19 per cent in December 2018 on account of moderation in the prices of fuel, fruits and vegetables.In November last year, the inflation based on the Consumer Price Index (CPI) was 2.33 per cent as compared to 5.21 per cent a year ago in December 2017. In June 2017, inflation was as low as 1.46 per cent.The contraction in inflationary pressure raises hope for a cut in the lending rate by the Reserve Bank of India (RBI) during the monetary policy review meeting, scheduled to take place next month.Taking to his Twitter handle, Union Minister for Railways Piyush Goyal said: "Big Relief For Consumers: Under the leadership of PM @NarendraModi and FM @ArunJaitley, consumer inflation fell to a low of 2.19%, demonstrating the Govt's commitment to ease the life for the common man."According to Union Ministry of Commerce and Industry, the annual rate of inflation, based on monthly
RBI imposes monetary penalty of Rs 10 million on Bajaj Finance Ltd
The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs. 10 million on Bajaj Finance Limited for violation of Fair Practices Code.This action is based on deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement entered into by the Non-Banking Financial Company (NBFC) Bajaj Finance Ltd. with its customers.The order is dated January 3 and the penalty has been imposed in the exercise of powers vested in RBI under the relevant provisions of the RBI Act.