Page 1340 - Business Finance
China 2018 FDI up 0.9 percent in yuan terms: commerce ministry
BEIJING (Reuters) - Foreign direct investment (FDI) into China rose 0.9 percent last year to 885.61 billion yuan ($130.93 billion), the Ministry of Commerce said on Monday.
Strong case to revisit 'restrictive' FDI retail policy: Report
Domestic ratings agency Icra has said there is a "compelling case" to revisit the "restrictive" retail foreign direct investment (FDI) policy as India has not been able to get sizeable investments despite opportunities. Citing examples of other emerging geographies to allay concerns, the agency said organised and unorganised retail can co-exist. The multi-brand retail sector remains "most restrictive" to FDI, with a cap of 51 per cent ownership and guidelines relating to mandatory investments in back-end infrastructure and local sourcing norms, it said. "There is a compelling case for the government to revisit its FDI policy. The investment requirements of the sector are sizeable," its vice president and co-head for corporate sector ratings Kinjal Shah said. According to data released by the Department of Industrial Policy and Promotion, India received USD 1.4 billion in FDI in the retail sector between 2000 and 2018, which is only 0.36 per cent of the overall FDI ...
Euro zone bond investors exercise caution ahead of Brexit vote
LONDON (Reuters) - Euro zone bond yields slid on Monday after weak Chinese data and the threat of a new election in Greece increased risk aversion, while investors awaited further clarity from Tuesday's Brexit vote in Britain's parliament.
Bharti Airtel in talks on a potential takeover of Telkom Kenya: sources
NAIROBI (Reuters) - Bharti Airtel is in talks about a potential takeover of Telkom Kenya, the East African nation's smallest operator, three telecoms industry sources told Reuters on Monday.
Lower fuel prices ease India's WPI to 3.80% in December
Lower fuel and manufactured products prices eased India's annual rate of inflation based on wholesale prices to 3.80 per cent in December 2018 from 4.64 per cent in November, official data showed here on Monday.
Wholesale Price Inflation Slips To Eight Month Low
The official Wholesale Price Index for 'All Commodities' (Base: 2011-12=100) for the month of December, 2018 declined by 1.4% to 120.1 (provisional) from 121.8 (provisional) for the previous month. The annual rate of inflation, based on monthly WPI, stood at 3.80% (provisional) for the month of December, 2018 (over December, 2017) as compared to 4.64% (provisional) for the previous month and 3.58% during the corresponding month of the previous year. This was the lowest level in eight months for the inflation. Build up inflation rate in the financial year so far was 3.27% compared to a build up rate of 2.21% in the corresponding period of the previous year.
Domestic passenger vehicle sales down 0.43% in December
Sale of passenger vehicles in the domestic market declined by 0.43 per cent on a year-on-year basis in December to 238,692 units, according to data released on Monday by the Society of Indian Automobile Manufacturers (SIAM).
Board of Nitin Castings approves sub-division of shares
At meeting held on 14 January 2019
Commerce ministry plans workshops in different states to implement agri-export policy
The commerce ministry is planning a series of workshops in states including Maharashtra, Gujarat and Uttar Pradesh to implement its export policy for agricultural goods with a view to boost overall shipments, an official said. The ministry has suggested states to set up a nodal agency dedicated for the implementation of the agriculture export policy. Workshops would help identify bottlenecks, get feedback and suggestions to improve and overcome difficulties in the implementation of the policy. "There is a plan to organise workshops in all the states for this policy with a view to boost exports of agricultural goods. States have been asked to prepare their separate agri-export policy also," the official added. The ministry has asked Agricultural & Processed Food Products Export Development Authority (APEDA) to formulate a template for states, based on which states would prepare their policy. Last month, the government approved an agriculture export policy with an aim to double farm
Benchmarks hover in narrow range
Key equity indices were trading in a narrow range near day's low in afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, was down 272.61 points or 0.76% at 35,737.23. The Nifty 50 index was down 90.45 points or 0.84% at 10,704.50. Sentiment was impacted by weak IIP data and negative Asian stocks.
Apple-supplier Dialog Semi's Q4 sales at bottom of forecast range
FRANKFURT (Reuters) - Chip designer Dialog Semiconductor, which supplies iPhone maker Apple, reported preliminary fourth-quarter sales at the low end of its target range on Monday, sending its shares down more than 3 percent.
Oil falls by one percent on China trade slump, although crude imports remain high
SINGAPORE (Reuters) - Oil prices fell by 1 percent on Monday, with Brent crude slipping below $60 per barrel, after Chinese data showed weakening imports and exports in the world's biggest trading nation and second-largest crude oil consumer.
Petrol price breaches Rs 70-mark, diesel crosses Rs 64
Petrol price breached the Rs 70 a litre-mark and diesel crossed Rs 64-mark Monday after rates were hiked for the fifth consecutive day on rising input cost. Petrol price was raised by 38 paise per litre and diesel by 49 paise a litre, according to price notification issued by state-owned oil firms. In Delhi, petrol now costs Rs 70.13 a litre and diesel is priced at Rs 64.18. This is the fifth consecutive day of increase in rates and sixth hike this month. Rates on Sunday were increased by 49 paise per litre in case of petrol and 59 paise for diesel. In all, prices have gone up by Rs 1.84 a litre for petrol and by Rs 2.02 for diesel in the new year. In Mumbai, petrol costs Rs 75.77 a litre and diesel is priced at Rs 67.18. Rates vary from state to state, depending on the rate of local sales tax or value added tax (VAT). Petrol and diesel prices have been on the rise since January 7. Prior to that, rates had cooled to a year's low of Rs 68.29 for petrol and Rs 62.16 in case of diesel. ..
Metropolitan Stock Exchange invites application for MD, CEO post
The Metropolitan Stock Exchange (MSE) has invited applications for the post of managing director and chief executive officer for a maximum term of five years, according to a public notice issued Monday. The candidate must be a qualified CA/MBA or equivalent with at least 15 years of relevant experience in the field of capital market or finance, read the announcement. "The appointment will be subject to the approval of the Sebi and the candidate shall hold office for a maximum term of five years," it said. It further read that the candidate must be aged not more than 55 years as on January 1, 2019; adding that age qualification and experience limits may be relaxed for deserving candidates at the discretion of the selection committee. The announcement said, he/she will be responsible for resource management, organisation development and overall success of the organisation. Candidates should send their application latest by January 25, 2019. The exchange offers hi-tech platform for ...
Samsung bets on M series to take on Xiaomi, achieve double-digit growth in 2019
Hoping to re-capture its pole position from rival Xiaomi, Korean giant Samsung will launch its 'Galaxy M' series of smartphones -- first in India -- as it looks to clock double-digit growth in this hyper-competitive market. The range, which will include phones priced up to Rs 20,000, will be sold online only. While initially, the devices will be available on Samsung's website and Amazon, it will be extended to other online platforms later. "Samsung India will be the first country to launch the new Galaxy M series smartphones later this month. This new range has been inspired by millennials and designed in India," Samsung India Senior Vice President Asim Warsi told PTI. He added that the new range will help the company achieve "strong double-digit growth" in 2019. "This is our first salvo in 2019. We have been investing in the Indian market not only in terms of devices but also our factory expansion and our experience centre...we continue to remain focused on the needs of the Indian ...
Continental warns weaker markets, electric shift to hit margins
FRANKFURT (Reuters) - German automotive supplier Continental AG warned of a drop in profitability this year, blaming a downturn in car markets and the industry's costly shift from combustion engines towards electric vehicles.
JD Sports sees full-year profit at higher end of market view
(Reuters) - JD Sports Fashion Plc forecast annual profit at the higher end of expectations on Monday as Britain's biggest sportswear retailer refused to cut prices in a tough retail environment.
Sensex down 260 points, Nifty trades around 10,700
The Indian equity indices traded in the red on Monday afternoon with the S&P BSE Sensex trading over 260 points lower.
Coriander futures rise 0.71 pc on spot demand
Coriander prices rose by 0.71 per cent to Rs 6,040 per quintal in futures market Monday as participants built up fresh positions amid rising spot demand. Besides, tight stocks on account of restricted arrivals from major growing regions boosted coriander futures. At the National Commodity and Derivatives Exchange, coriander for January edged higher by Rs 70, or 0.71 per cent, to Rs 6,040 per quintal with an open interest of 490 lots. Market analysts attributed the rise in coriander futures to upsurge in demand in the physical market against tight stocks position. On similar lines, the delivery for February was trading higher by Rs 26, or 0.39 per cent, to Rs 6,669 per quintal with an open interest of 27,830 lots.
Chana futures soften 0.75 pc on muted demand
Chana prices declined by 0.75 per cent to Rs 4,307 per quintal in futures trade Monday as speculators reduced exposure amid subdued demand at the spot market against adequate stocks position. At the National Commodity and Derivatives Exchange, chana for delivery in March fell by Rs 33, or 0.75 per cent, to Rs 4,307 per quintal with an open interest of 40,240 lots. Similarly, the commodity for delivery in April declined by Rs 33, or 0.75 per cent, to Rs 4,338 per quintal in 8,680 lots. Marketmen said trimming of positions by traders on the back of easing demand in the physical market against adequate stocks position mainly influenced chana prices at futures trade.