Page 1556 - Business Finance

LSE names Experian's Donald Robert as next chairman

(Reuters) - London Stock Exchange Group Plc said on Friday Chairman Donald Brydon would be replaced by Donald Robert, chairman of the world's biggest credit data firm Experian Plc.

Global Markets: Global growth worry hits stocks, but dollar gains on U.S. data

NEW YORK (Reuters) - A gauge of global stocks tumbled on Friday after weak economic data from China and Europe exacerbated worries about global growth as investors considered the broader impact of the trade dispute between the United States and China.

Upstox launches high speed margin trading facility

Ratan Tata-backed online broking company Upstox Friday said it has introduced margin trading facility for its customers that would enable investors get instant funding to meet their margin requirements while dealing in equities. Margin trading facility (MTF) in stock market parlance refers to a mechanism under which individual investors purchase more stocks than they can afford to. The facility has been launched to benefit positional traders, swing traders and investors buying stocks for short duration. It allows users to get a two-times leverage on buying delivery stocks, it said. Under the facility, investors will need to put in 50 per cent of the funds and Upstox would fund the remaining margin requirement of up to Rs 5 lakh. Upstox (formerly RKSV Securities), the new-age online discount broking company, is funded by Ratan Tata, Kalaari Capital and GVK Davix. "With more and more retail investors coming into the markets now, we realised there was a need for a MTF product which could

J&K govt to set up real estate regulatory authority

The Jammu and Kashmir government for the first time will set up a Real Estate Regulatory Authority (RERA) in the state to promote regulated and planned growth of the real estate sector, official spokesman said Friday. On Friday, the State Administrative Council (SAC) under the chairmanship of Governor Satya Pal Malik approved the establishment of Real Estate Regulatory Authority (RERA) in the state. The Jammu and Kashmir Real Estate (Regulation and Development) Bill, 2018 approved by the SAC provides a provision to establish the Real Estate Regulatory Authority, the State Advisory Council and the Real Estate Appellate Tribunal in the State to effectively and efficiently regulate this sector, spokesman said. The move is aimed at promoting planned development of real estate and to ensure sale of plots, apartments, buildings and other real estate projects, in an efficient and transparent manner and to protect the interests of the consumers, he added. RERA would ensure a fair and just ...

Spain announces 7.3-bn-euro defence spending plan

Spain's Socialist government on Friday gave the green light for a 7.3-billion-euro renewal of military equipment which it portrayed as "social spending" that will create thousands of jobs. "The defence ministry will launch three military programmes with an investment of 7.33 billion euros (USD 8.2 billion)," the ministry said in a statement detailing a plan that runs until 2032. Already on Thursday, the government announced its state-owned group Navantia would build five frigates for the navy for 4.3 billion euros. On Friday, the defence ministry added a further 2.1 billion euros would go to developing and building 348 VCR 8x8 armoured vehicles. These will replace ageing vehicles which have been blamed for endangering soldiers. In a radio interview, Defence Minister Margarita Robles referred to an incident in Lebanon in 2007 when several Spanish soldiers died, partly because one vehicle "lacked the necessary armour-plating." The third programme aims to modernise Eurofighter fighter ..

Scooter India plans EV foray; Lambretta EV on the anvil

State-owned Scooters India said Friday it plans to venture into the electric vehicles (EV) segment, including binging back the once popular Lambretta brand in electric version. The board of directors of the company at its meeting held on Friday took note of diversifying its product range in line with the upcoming EV market in the country, Scooters India Ltd (SIL) said in a regulatory filing. It is in discussions with several companies, including BHEL and NTPC, for the venture. The company further said it intends to develop Vikram electric three-wheeler in both passenger and goods carrier segment. While the passenger variant will have seating capacity of four, including the driver, the goods carrier will be in the sub-one ton category. In the electric two-wheeler segment, the company said it planned to bring in Lambretta EV. Scooters India also said it intends to develop electric four-wheeler of sub-two tons in both passenger and goods carrier segments. "SIL is in discussion with BHEL,

China to halt additional tariffs on U.S.-made cars as trade dispute de-escalates

BEIJING (Reuters) - China will suspend additional tariffs on U.S.-made vehicles and auto parts for three months starting Jan. 1, 2019, the country's finance ministry said on Friday, following a truce in a trade war between the world's two largest economies.

National Electronics Policy 2018 to be in Cabinet soon: Prasad

Union IT and Electronics Minister Ravi Shankar Prasad on Friday said the new draft National Policy on Electronics would soon be finalised and taken up in the Cabinet.

1,275 offers land at IIT Kharagpur in first leg of placement

An estimated 1,275 offers from 192 companies landed at IIT Kharagpur during the first phase of placement for 2018-19 which concluded on Friday. Several offers were made by the IT-Software, e-commerce, finance and analytics companies including the core engineering ones during the phase one of the placement, an IIT Kharagpur statement said. About 40 per cent of the offers were in IT-Software, followed by 20 per cent in core engineering, 15 per cent each in analytics and e-commerce and 10 per cent in finance, the statement said. Prominent companies which made offers included Google, Apple, Microsoft, Intel, Tata Steel, Flipkart, L&T Construction, Mahindra & Mahindra, TVS Motors, HSBC, JP Morgan, Qualcomm, Barclays, Goldman Sachs, Master Card and Capgemini. The number of international positions stood at 23 with Japan making the highest number of offers and Germany emerging as a first-time recruiter, the statement said. Indian Space Research Organisation (ISRO) and ...

PE investments deal tally at USD 17.8 bn in Jan-Nov: Report

Private equity investments witnessed in November a declining trend both in value and volume terms with 39 deals worth around USD 500 million, says a report. According to the Grant Thornton report, PE deal tally from January to November was 717 totalled USD 17.8 billion in valuation. The deal volume saw a 4 per cent increase over the same period a year ago, while the deal size of investments declined by 9 per cent as big ticket investments remained cautious. In November, there was only one big-ticket investment worth over USD 100 million. The month also recorded the lowest PE volume in last 4.6 years and the lowest in last 28 months in terms of value, the report said. India Resurgence Fund, promoted by Piramal Enterprises Ltd and Bain Capital Credit, invested USD 156 million in Chennai-based Archean Group's marine chemicals business -- the biggest deal of the month. Some other key deals announced in November are: Shunwei Capital's investment of USD 50 million in startup Fashnear ...

Public bank recapitalized to the tune of Rs 128861 crore till Nov 2018: Finance Ministry

Provision of Rs 65000 crore has been made in the budget FY2018-19 for infusion

India's foreign exchange reserves flat at 393.73 in week ended 07 December

Foreign exchange reserves dips by US$ 30.81 billion over March 2018

Lower food prices ease India's WPI to 4.64% in November (Roundup)

Lower food and fuel prices eased India's annual rate of inflation based on wholesale prices to 4.64 per cent in November from 5.28 per cent in October, official data showed here on Friday.

Nationalized banks makes NPA and contingencies provision of Rs 405456 crore in last four financial years: Finance Ministry

Government infuses capital of Rs 107543 crore in the last four financial years in nationalized banks

NCL plans expansion, to produce 100 mt in FY19 (Lead, Correcting headline)

Northern Coalfields Ltd (NCL), a subsidiary of Coal India Ltd, is expecting to produce over 100 million tonnes of coal in the current fiscal, an official said here on Friday.

Adani-Elbit set up India's first private UAV unit in Hyderabad

India's first private sector unit for manufacturing unmanned aerial vehicles (UAVs) to cater to both the Indian armed forces and the global market was formally launched at Adani Aerospace Park here on Friday.

Exlclusive: France plans Renault CEO hunt as board frays over Ghosn - sources

PARIS (Reuters) - The French government is seeking candidates to replace Renault's embattled boss Carlos Ghosn, as some board members began to voice doubts about keeping him in office after his indictment in Japan for suspected misconduct, several sources told Reuters.

CBI arrests Barauni Refinery official while accepting bribe

The Central Bureau of Investigation (CBI) on Friday arrested a senior official of a public sector oil refinery for accepting a bribe of Rs 20,000 from a contractor. Malay Kumar Das, posted at Indian Oil Corporation's Barauni Refinery as Human Resources manager, was arrested by an eight-member CBI team headed by senior inspector Ashish Pandey, official sources said. They said the probe agency had received a complaint from the contractor last month that Das was demanding a bribe for clearing his dues. A trap was subsequently laid and Das was arrested while accepting the money at a guest house located in the vicinity of the refinery, the sources said.

FM says flagging credit, liquidity issues does not infringe on RBI autonomy

Finance Minister Arun Jaitley Friday said sovereign government flagging issues of credit and liquidity does not infringe on the Reserve Bank's autonomy and hoped things will work out with the central bank in future. On a day when the board of Reserve Bank of India (RBI) under its new Governor Shaktikanta Das bought more time to review the government's demand for a greater say in the central bank's functioning, Jaitley said the government respects RBI's autonomy. "Of course, the government respects the autonomy of the central bank and because we respect the autonomy of the central bank that is why we told them... these are the problems that the market is facing," he said at the annual general meeting of industry body FICCI here. He said the problems were pointed to the RBI as they lied within its power, domain and jurisdiction. "I can't conceive how an elected sovereign government bringing to the notice and flagging the issue of credit and liquidity can in anyway infringe the ...

Public sector bank have no plan to shut down 50% of ATMs by March 2019: Finance Ministry

2.21 lakh ATMs are deployed in India as on 30 September 2018