Page 1543 - Business Finance
Exports of MSME products rise 7.5% in 2017-18
Share of MSMEs in GDP at current prices has been 28.9% in 2016-17
1.03 crore LPG consumers voluntarily surrendered LPG Subsidy: Ministry of Petroleum
LPG Coverage improves to 89.5% as on 01 December 2018
Boeing, Embraer forge on with tie-up after Brazil suspension reversed
US planemaker Boeing and Brazil's Embraer said Monday they have approved the terms of a partnership to create a joint venture now worth USD 5.26 billion -- more than when they first announced it in July. "The transaction remains subject to approval by the Government of Brazil, after which Embraer and Boeing intend to execute definitive transaction documents," the two companies said in a statement. The news comes a week after a Brazil appeals court overturned a "hasty" suspension ordered by a lower court days earlier that would have prevented the outgoing Brazilian government of taking any concrete decision of the proposed tie-up. Embraer, the third-largest aircraft manufacturer in the world, was founded as a state group in 1969 before being privatized in 1994, although the Brazilian government retains a "golden share" giving it the right to veto strategic decisions for the company. Under the planned deal, Boeing is to take an 80 per cent stake in Embraer's commercial business, thus ...
Saudi's Falih discusses joint refining projects with Reliance
LONDON (Reuters) - India's Reliance, operator of the world's biggest refining complex, and top oil exporter Saudi Arabia will explore joint investments in refining and petrochemicals in the two countries, Saudi Arabian Energy Minister Khalid al-Falih said.
Fino Paytech invests in Citycash
Eyeing the tap-and-pay space, Fino Payments Bank promoter Fino Paytech Monday has invested an undisclosed sum in Citycash. It did not disclose the stake it will be getting either but said that the two will design an ecosystem for payments. Fino will be the issuance and settlement institution of the prepaid payment instrument and Citycash will offer its cashless payments technology and micro-payment merchant acquisition, an official statement said. *********************** ICICI Pru AMC launches voice-enabled investment chat bot * ICICI Prudential asset management company Monday launched a voice-enabled investment chat bot. The service is powered by Google voice capabilities and has been designed to undertake a slew of transactions, including assisting an investor to invest, an official statement said. *********************** SIS acquires 51% stake in Uniq Security Services * Security firm SIS Monday said it has acquired a 51 per cent stake in Uniq Security Services, for
84 GAs granted authorization in 9th bidding round for city gas distribution: Ministry of Petroleum
Government has envisaged to expand the coverage of PNG supply to one crore households
Boeing boosts value for Embraer's commercial business to $5.26 billion
SAO PAULO (Reuters) - Brazil's Embraer SA said on Monday it has finalized terms of a proposed deal to sell 80 percent of its commercial aviation business to Boeing Co, now valuing the division at $5.26 billion.
Exclusive: Dubai's DP World seeks to quash India antitrust probe over Mumbai port: court filing
NEW DELHI (Reuters) - Dubai's DP World has approached an Indian court to quash an antitrust investigation recently ordered to probe its alleged anti-competitive behaviour at the country's largest container port in Mumbai, a legal document reviewed by Reuters showed.
Tata Motors-owned JLR likely to cut jobs in 2019
Tata Motors-owned Jaguar Land Rover (JLR) is likely to cut jobs next year as part of its wider cost efficiency plans. However, the UK-based luxury carmaker refused to comment on reports in a section of the UK media over the weekend that the changes under its Charge and Accelerate transformation programmes could affect thousands of workers. "Jaguar Land Rover notes media speculation about the potential impact of its ongoing Charge and Accelerate transformation programmes," a JLR statement said. "As announced when we published our second quarter results, these programmes aim to deliver GBP 2.5 billion of cost, cash and profit improvements over the next two years. Jaguar Land Rover does not comment on rumours concerning any part of these plans," it noted. In October, the company posted a pre-tax loss of 90 million pounds as the sales of its luxury brands fell sharply in recent months. The JLR had blamed ongoing uncertainty over the future of diesel vehicles in Europe and around Brexit ...
Banning high value notes dragged India's economic growth down: Rajan
Demonetisation slowed down India's economic growth at a time when the world economy was growing and it impacted the GDP significantly, former RBI Governor Raghuram Rajan said. Rajan said he has seen studies which reaffirm that banning of high value currency notes in late 2016 impacted India's growth significantly. "I think the net impression is that it (demonetisation) had a significant effect on our growth. And now, I have seen studies which reaffirm that. It has slowed down (our growth). "...the world (economy) was growing faster in 2017, we slowed down," Rajan told NDTV news channel in an interview. The growth was not only impacted due to demonetisation but also because of implementation of Goods and Services Tax (GST), he said. In 2017-18, the Indian economy grew by 6.7 per cent. "That was the twin blow of demonetisation and GST (that impacted India's growth). And before anybody accuses (me) of being anti-GST, it's a good idea in the longer run, but it has short term teething ...
Dubai's DP World seeks to quash India antitrust probe over Mumbai port: court filing
NEW DELHI (Reuters) - Dubai's DP World has approached an Indian court to quash an antitrust investigation recently ordered to probe its alleged anti-competitive behaviour at the country's largest container port in Mumbai, a legal document reviewed by Reuters showed.
'Travel, fashion, IT/mobiles most preferred e-comm segments'
As many as 98 per cent of Indian consumers who have access to the internet have made a purchase online, with travel, fashion and IT and mobile being the highest performing categories, a recent study revealed. According to global measurement company Nielsen, global online grocery purchasing is up 15 per cent in the last two years, leading to an estimated USD 70 billion additional sales in online FMCG. "Closer home, in India, with growing consumer trust and confidence within the online buying ecosystem, e-commerce channel has evolved significantly and in the past two years has grown its share by as much as three times, within total FMCG retail sales," the report said. The 2018 Nielsen Connected Commerce Report, which looks at consumers online purchasing habits, reported that 98 per cent of Indian consumers who have access to the internet have made a purchase online. "Stalwart e-commerce categories travel, fashion, IT and mobile continue to account for the largest ...
UK student loan changes to add billions to budget deficit
Britain's Office of National Statistics says it is changing the way it accounts for student loans in a decision that will add 12 billion pounds ($15 billion) to the country's budget deficit. The statistics agency said in a statement Monday that the design of the system means much of the loan book is never repaid. The agency's David Bailey says the decision "properly reflects the true picture of government spending" because future write-offs will be reflected as government spending now. Treasury officials stressed the accounting decision won't affect students, who can still get loans. But Matt Whittaker of the Resolution Foundation says it will inevitably affect the government's approach to education financing "by making more explicit where the costs of the system lie.
NDCP aims for Broadband for All and create 4 million jobs: Minister of State for Communications
Taking steps to promote healthy competition among States to further the cause of NDCP 2018
South Africa's Naspers leads $540 million investment in Indian tech startup
JOHANNESBURG (Reuters) - Naspers and Canada's state pension fund have invested $540 million in Indian educational technology startup Byju's, the South African internet giant said on Monday.
Fossil launches 7 new products in India
The US-based luxury watch maker Fossil Group Monday expanded the range of smart watches in India with the launch of seven products across its six brands. The company -- whose portfolio of six brands in India include Fossil, Michael Kors, Skagen, Emporio Armani, Armani Exchange and Diesel -- also plans to open 2-3 Fossil outlets in calender year 2019 to expand its footprint in the country. "India is one of the fastest growing market for Fossil...while in India there is a large market for traditional watches...but we see a great opportunity in adding on the connect watch market to our business...we expect growth in the connected devices segment to be much-much higher," Fossil India Managing Director Johnson Verghese told PTI. In future, the company expects every watch will be a connected watch (smart watch) in some form, he said. Fossil, which has single brand retail licence, at present operates 18 outlets in India. It also has around 600 point of sales such as department stores, local .
thyssenkrupp, Tata Steel announce executive leadership for planned JV
Tata Steel and thyssenkrupp on Monday said Andreas Goss, currently Chief Executive Officer (CEO) of the steel division of the German multinational conglomerate, will chair the management board of the planned European steel Joint Venture (JV) between the two companies.
Govt's total liabilities rose to Rs 82.03 lakh crore in September quarter
Public debt accounted for nearly 90 per cent of the government's total liabilities, which ballooned to Rs 82.03 lakh crore at the end of September quarter, according to a report. The Quarterly Report on Public Debt Management, released by the Finance Ministry on Monday, said public debt accounted for 89.3 per cent of total outstanding liabilities in three months ended September. Out of the public debt, nearly 83 per cent was internal debt. The government's total liabilities increased to Rs 82.03 lakh crore in the latest September quarter from Rs 79.80 lakh crore in the preceding three months. "The holding pattern indicates a share of 41.4 per cent for commercial banks and 24.6 per cent for insurance companies by end-September 2018," the report said. Government securities' yields showed a hardening trend in the second quarter of the current fiscal. The weighted average yield of primary issuances climbed to 8.01 per cent from 7.76 per cent since the first quarter reflecting an increase .
Traders to hold rally to protest sealing, FDI on Dec 19
Traders' body CAIT said Monday it would hold a rally here on Wednesday to demand that the government brings in a bill in the ongoing session of Parliament to stop sealing in Delhi. The Confederation of All India Traders (CAIT) also said it would urge the government not to allow foreign direct investment (FDI) in the country's retail sector. The Union Cabinet earlier this year permitted 100 per cent FDI in single-brand retail under automatic route, while also easing local sourcing norms. Besides, a top official last week said the government has no proposal to change the existing foreign direct investment (FDI) policy in the multi-brand retail trading sector. CAIT Secretary-General Praveen Khandelwal said sealing has distorted and disrupted Delhi's trade to a great extent. He alleged that the entry of multinational corporations and FDI in retail trade have damaged the domestic trade to a great extent. Khandelwal said either the government should bring a bill to stop sealing in the ...
Trump calls on Fed not to raise rates on eve of policy meeting
US President Donald Trump on Monday called on the Federal Reserve not to raise interest rates, one day before a meeting at which policymakers are widely expected to do so. "It is incredible that with a very strong dollar and virtually no inflation, the outside world blowing up around us, Paris is burning and China way down, the Fed is even considering yet another interest rate hike," Trump wrote on Twitter.