Page 1557 - Business Finance
Wall Street drops at open on growth fears
(Reuters) - U.S. stocks opened sharply lower on Friday as weak economic data from China and Europe exacerbated global growth fears and added to nerves over the U.S.-China trade talks.
Urban Secy for use of indigenous technology in public transport sector
Experts from different metro rail corporations Friday gathered in the national capital for a seminar on building sustainable cities, with the Union Urban Affairs secretary urging the public transport sector to promote use of indigenous technology. The second UITP Indian Metro Seminar, organised by International Association of Public Transport (UITP) in association with Delhi Metro Rail Corporation (DMRC) was inaugurated at the Metro Bhawan here. Secretary to Ministry of Housing and Urban Affairs and Chairman, DMRC, Durga Shankar Mishra, "urged the urban public transport systems to promote indigenous technology", the DMRC said in a statement. The seminar was attended by high-level officials of metro rail corporations of different cities in the country, representatives from the industry, and experts in urban development. Mangu Singh, Managing Director of the DMRC and Mohamed Mezghani, Secretary General of UITP also addressed the inaugural session of the event. The secretary also ...
Savera's food outlet opened at IOC highway bunk in Tirupur
: Indian Oil Corporation (IOC) has joined hands with Chennai-based Savera Group of Hotels for setting up food joints in the highway retail outlets of the IOC across the country. The first such dining spot 'Amaravathi Highway Family Restaurant' with 120 seats was inaugurated in the nearby Tirupur district Friday. The effort was part of the vision of the IOC to upgrade its retail outlets on the highways and also extend customer convenience, executive director of the company (TN and Puducherry) R Sitharthan told reporters. Of the 2,250 outlets of IOC in Tamil Nadu and Puducherry, 130 were located along the highways, he said. With leisure travel on the rise, the company saw the need for upgrading the outlets at these locations, he said. Stating that this was just a beginning, the executive director said the remaining outlets would soon be added to the network.
Don't make farm loan waivers part of poll promises: Rajan
Eschew loan waivers that divert resources from much needed investment in India, says a report prepared by 13 noted economists, including former RBI Governor Raghuram Rajan, which was released here on Friday.
India's merchandise exports rise mere 0.8% in November 2018
Trade deficit widens to US$ 16.67 billion in November 2018
Lufthansa in early talks on possible tie-up for caterer LSG - sources
FRANKFURT (Reuters) - Lufthansa is in early talks about a possible tie-up between its LSG Group catering unit with partners such as Austria's Do&Co, Singapore's SATS and Switzerland's Gategroup, people close to the matter said.
India Post launches e-commerce portal
Communications Minister Manoj Sinha on Friday launched the e-commerce portal of the Department of Posts providing an online market place to rural artisans and public sector units to sell their products.
Marico aims for up to 10% sales volume growth in FY19
With good rural growth, homegrown FMCG firm Marico, that makes products under Parachute and Saffola brands, is aiming for a volume growth of 8-10 per cent this fiscal year. Noting that in the last two quarters, with rural recovery and perhaps rural growth outstripping urban growth, the company Friday said focusing on both premiumisation and rural remain equally attractive. "Rural consumption will continue to be critical, especially starting before elections, rural consumption dips a little bit and I think the volume growth in the sector will continue to improve in the next couple of quarters. We have seen both competitive intensity and wholesome innovation being critical for the sector to perform," Marico managing director and chief executive officer Saugata Gupta said on the sidelines of the CII FMCG event here. "We are aspiring to deliver 8-10 per cent volume growth in second half. There could be fluctuations in terms of quarterly, but we should be in a position to ..
Well-defined CSR strategy leads to strategic competitive
A well-defined CSR strategy has several advantages in the long-term and leads to strategic competitive advantages, Associate Director of Thomas Schmidheiny Centre for Family Enterprise at the Indian School of Business (ISB), Nupur Pavan Bang has said. A White Paper on 'Family Businesses: Heeding the Call of Corporate Conscience,2015-2017,' was conducted by Thomas Schmidheiny Centre for Family Enterprise on Thursday. "Firms would do well to understand that a well-defined Corporate Social Responsibility strategy has several advantages in the long-term. It leads to strategic competitive advantages and as a result create long-term value for shareholders. Without enlightened promoters aided by independent directors and a complementary policy framework universal adoption of well-meaning and highly spirited CSR pursuits will continue to remain a distant dream," he said. Bang, one of the authors of the report, said the study was done on the CSR spend pattern of different ...
China's ZTE loses major German mobile contract
Chinese telecoms giant ZTE lost its biggest contract in Germany, network provider Telefonica on Friday said, as resistance mounts across the West to Beijing's infrastructure manufacturers. ZTE's contract to maintain mobile operator O2's network, which is owned by Spain's Telefonica, "will come to an end as planned at the end of the year," said a spokesman for the German firm, confirming a report from business daily Handelsblatt. In an interview with the newspaper, Telefonica Deutschland chief executive Markus Haas held back from criticising ZTE over quality problems that have plagued O2's integration of its network with competitor E-Plus over the past four years. In future it will work with a much smaller German firm, Dortmund-based GfTD, rather than ZTE, he said. Maintenance of masts and other infrastructure that makes mobile networks run is a "local service", Haas explained. Also according to Handelsblatt, ZTE is looking to score a new big German contract with network provider ...
Merck bolsters animal health unit with $2.4 billion Antelliq purchase
(Reuters) - Merck and Co said on Friday it will buy privately held French company Antelliq Group, which makes digital identification products for livestock, for about 2.1 billion euros ($2.37 billion) to bolster its fast-growing animal health business.
T.V. Today Network launchs new channel - Aaj Tak HD
Powered by Capital Market - Live News
China to temporarily slash tariffs on US auto imports
China on Friday said it will suspend additional tariffs on imports of American-made cars and automobile parts for three months starting January 1 in an attempt to negotiate a trade deal with the US.
Global cues subdue equity market, ends flat (Roundup)
The key Indian equity indices closed on a flat-to-positive note after trading in a narrow range on Friday, tracking weakness in Asian and European markets over concerns of a slowdown in global growth.
India's November trade deficit narrows to $16.67 billion
NEW DELHI (Reuters) - India's November trade deficit narrowed to $16.67 billion due to a fall in gold imports, the country's trade ministry said in a statement on Friday.
Fitch downgrades Pakistan citing fiscal "deterioration"
(Reuters) - Global credit rating agency Fitch downgraded Pakistan's long-term foreign currency issuer default rating to 'B-' from 'B', citing a rise in external financing risk from low reserves and high external debt repayments, along with a continued deterioration in the economy's fiscal position.
Exports up 0.8 pc in Nov; trade deficit widens to USD 16.6 bn
India's exports grew by a meagre 0.80 per cent to USD 26.5 billion in November, according to commerce ministry data. Imports rose by 4.31 per cent to USD 43.17 billion during the month, leading to widening of the trade deficit to USD 16.67 billion. The deficit widened despite a steep decline of 15.6 per cent in gold imports at USD 2.75 billion during the month under review. During April-November this fiscal, exports rose by 11.58 per cent to USD 217.52 billion, while imports recorded a growth of 14.71 per cent to USD 345.64 billion. Trade deficit during the period widened to USD 128.13 billion as against USD 106.37 billion during April-November 2017-18. Oil imports in November jumped by 41.31 per cent to USD 13.49 billion. However, the non-oil imports dipped by 6.79 per cent to USD 29.68 billion.
Air Berlin liquidator sues Etihad for 2 bn euros
The liquidator winding up defunct Air Berlin is suing major shareholder Etihad Airways for compensation of up to two billion euros (USD 2.26 billion), a court in the German capital said Friday. Administrator Lucas Floether has asked judges to award the former operator 500 million euros and a ruling that further compensation is required, with the court placing a provisional value of up to two billion euros on the case, the Berlin regional court said in a statement. Floether says Etihad went back on an April 2017 agreement to support Air Berlin for the following 18 months. In the event, the Emirati group withdrew its support in August last year, prompting Germany's second-largest airline to go bust. Etihad had owned 29.2 per cent of Air Berlin since 2011. After climbing aboard the red-and-white liveried operator, Etihad bailed it out for several years as it battled its major rival Lufthansa.
Board of Techno Electric & Engineering Company approves buyback of shares
At meeting held on 13 December 2018
Global Markets: Weak economic data send world stocks tumbling
LONDON (Reuters) - Stocks worldwide tumbled on Friday after weak economic data from China and Europe fanned concerns of a global economic slowdown and left investors fretting over the wider impact of a still-unresolved Sino-U.S. trade dispute.