Page 1339 - Business Finance
Gold surges to Rs 33,100 on jewellers' buying
Gold prices Monday went up by Rs 225 to Rs 33,100 per 10 gram at the bullion market in the national capital on the back of positive trend overseas and a surge in demand from local jewellers, according to the All India Sarafa Association. Silver, too, followed the gold prices and gained Rs 250 to Rs 40,100 per kg on increased demand from industrial units and coin makers. Traders said firm trend overseas and support from local jewellers amid a weaker rupee led to boost in the prices of yellow metal. Globally, gold traded higher at USD 1,290.22 an ounce and silver rose to USD 15.73 an ounce in New York. In the national capital, gold of 99.9 per cent and 99.5 per cent purities advanced by Rs 225 each to Rs 33,100 and Rs 32,950 per 10 gram, respectively. Similarly, sovereign gold rose by Rs 100 to Rs 25,400 per piece of eight grams. Silver ready gained by Rs 250 to Rs 40,100 per kg, while weekly-based delivery rose by Rs 146 to Rs 39,617 per kg. Silver coins, however, held flat at Rs ...
2018 shows a record year for PE/VC investments, exits and fund raise: EY
Investments grew 35% and exits grew two times in 2018
Refined soya oil futures gain 0.22% on spot demand
Refined soya oil prices rose 0.22 per cent to Rs 3,773 per 10 kg in futures trade Monday as speculators raised their bets amid upsurge in demand in the spot market. At the National Commodity and Derivatives Exchange, refined soya oil for delivery in March went up by Rs 82, or 0.22 per cent, to Rs 3,773 per 10 kg with an open interest of 28,180 lots. Similarly, the oil for delivery in April was up by Rs 76, or 2.04 per cent, to Rs 3,808 per 10 kg with an open interest of 50,600 lots. Analysts said expansion of positions by traders on the back of pick up in demand at the physical markets against fall in supplies from growing belts helped soybean oil futures to trade higher.
Global Markets: China trade shock rattles European stocks, commodities
LONDON (Reuters) - World stock markets stumbled and commodities took a hit on Monday after a shock contraction in Chinese trade pointed to deepening cracks in the world's second-biggest economy and sparked fresh fears of a sharper slowdown in global growth.
Innoviti Accelerates POS Adoption in Small Towns With India's First 'Same Day, Every Day' Fund Transfer Feature
/ -- Move designed to address key bottleneck to card acceptance by smaller retailers Innoviti Payment Solutions Ltd. announced the market launch of 'Innoviti-POS' - targeted at enabling rapid scale-up of digital payment acceptance through POS amongst smaller retailers in Tier-2 and Tier-3 towns across India. Typically, small town retailers who are new to digital payments see little or no benefit in going digital for their payment acceptance. They perceive an unwanted increase in their cost of business as digital payments are charged. processing costs unlike cash. Further, accepting cash in hand helps them to easily make payments to their own suppliers coming for daily collections; a flexibility they fear will be lost since digital payment settlements are typically not credited the very same day. Innoviti-POS has a unique feature that transfers funds for settlement of digital transactions to the merchant's account, on the very same day that those transactions are made. Moreover, ...
Avenue Supermarts Ltd leads losers in 'A' group
Federal Bank Ltd, Dish TV India Ltd, GAIL (India) Ltd and Wipro Ltd are among the other losers in the BSE's 'A' group today, 14 January 2019.
Jet Airways shares jump after report chairman likely to step down
MUMBAI (Reuters) - Shares in India's Jet Airways jumped over 18 percent on Monday after a report that founder and chairman Naresh Goyal was likely to step down from the board of the embattled company and give up majority control.
Indians prefer brands that take a stand on issues concerning them: Survey
A majority of Indians prefer to buy goods and services from companies that stand for a shared purpose that reflects their personal values and beliefs -- and are ditching those that don't, new research from Accenture said on Monday.
Global, domestic players to participate in 67th Indian Foundry Congress
International participants from Germany, Italy, China, Japan, UK and the USA are likely to participate in the 67th Indian Foundry Congress from January 18 to 20, which will also include speakers from Larsen & Tourbo and Indian Railways. Union Commerce Minister Suresh Prabhu is scheduled to inaugurate the three-day foundry industry event, Indian Foundry Congress (IFC) said. "The 67th Indian Foundry Congress (IFC) and International Foundry Exhibition IFEX 2019, is being organised on the theme 'Mission World Market' from January 18 to 20, 2019 at the India Expo Mart, Greater Noida," IFC organising committee chairman Vikas Garg said. IFC said the event will be attended by about 1,200 delegates and 300 exhibition companies from 15 countries and is likely to draw 2,000 trade visitors. In addition to technical presentations by Indian and international authors, the IFC will feature an energy and environment forum, student forum, cast source buyer-seller meet, B-to-B meet and CEO's meet, .
Israel's Magenta Venture Partners launches tech fund
JERUSALEM (Reuters) - Magenta Venture Partners, a partnership between Japan's Mitsui & Co and two Israeli venture capitalists, said on Monday it has launched a new fund targeting $100 million to invest in early-stage Israeli tech startups.
China Market falls after downbeat trade data
China's exports to the world fell 4.4% in December from a year earlier, the biggest monthly drop in two years, pointing to further weakening in the world's second-largest economy. Imports also unexpectedly contracted, falling 7.6%, the biggest decline since July 2016. China's global trade volume rose last year but its surplus with the world fell 16.2% to $351.76 billion in 2018, as imports rose 15.8% while exports gained 9.9%. Much of the optimism built up last week following a round of mid-level trade talks appears to have evaporated.
FICCI recommends cut in corporate tax rate, revision of IT slabs in Budget 2019-20
FICCI has also recommends reduction in the rate of Minimum Alternate tax
WPI inflation dips to eight month low of 3.8% in December 2018
Core inflation declines to 4.2% in December 2018
Times Guaranty Ltd leads losers in 'B' group
Trejhara Solutions Ltd, Shree Rama Multi-Tech Ltd, Brightcom Group Ltd and Blue Blends (India) Ltd are among the other losers in the BSE's 'B' group today, 14 January 2019.
Malaysia to regulate initial coin offerings, cryptocurrency trade
KUALA LUMPUR (Reuters) - Malaysia will regulate initial coin offerings (ICOs) and the trade of cryptocurrencies, the finance minister said in a statement on Monday.
Australia Stocks drop on weak China Dec trade data
China's exports to the world fell 4.4% in December from a year earlier, the biggest monthly drop in two years, pointing to further weakening in the world's second-largest economy. Imports also unexpectedly contracted, falling 7.6%, the biggest decline since July 2016. China's global trade volume rose last year but its surplus with the world fell 16.2% to $351.76 billion in 2018, as imports rose 15.8% while exports gained 9.9%. The customs data showed that its exports to the U.S. contracted in December 2018 although its overall trade surplus with the U.S. hit a record $323 billion in 2018. Exports to the U.S. rose 11.3% to $478.4 billion for the year despite punitive tariffs imposed by President Donald Trump in a fight over Chinese technology ambitions. The customs data showed imports of American goods rose just 0.7% in 2018 over 2017, reflecting the impact of Beijing's retaliatory tariffs and encouragement to importers to buy more from non-U.S. suppliers.
Japan Nikkei closed for a public holiday
Asia Pacific markets were lower on Monday, 14 January 2019, amid concerns over an ongoing U.S. government shutdown and worries about an economic slowdown in China after lower-than-expected export and import data for December 2018 stifled last week's optimism ensuing from Beijing and Washington progressing on trade talks.
Market stages mild recovery
Key indices cut losses in mid-afternoon trade. At 14:18 IST, the barometer index, the S&P BSE Sensex, was down 197.84 points or 0.55% at 35,812. The Nifty 50 index was down 66 points or 0.61% at 10,728.95. Index heavyweights Larsen & Toubro and HDFC dropped. Telecom stocks fell. Sentiment was impacted by weak IIP data and negative global stocks.
Volumes jump at Indoco Remedies Ltd counter
Indoco Remedies Ltd saw volume of 1.68 lakh shares by 14:19 IST on NSE, a 17.12 fold spurt over two-week average daily volume of 9826 shares
J&K Bank firms up after strong Q3 results
Jammu & Kashmir Bank rose 3.86% to Rs 37.70 at 14:24 IST on BSE after net profit rose 43.16% to Rs 103.75 crore on 20.97% increase in total income to Rs 2166.22 crore in Q3 December 2018 over Q3 December 2017.