Page 1558 - Business Finance
Gold wilts on dollar strength; set for weekly decline
BENGALURU (Reuters) - Gold eased for the second straight session to hit a one-week low on Friday as the dollar rose, putting the metal on track to post its biggest weekly fall in five ahead of the U.S. Federal Reserve's interest rate decision next week.
Government had 106.05 billion rupees outstanding loans from RBI in week ended December 7
Dec 14 (Reuters) - The Indian government had 106.05 billion rupees ($1.48 billion) outstanding loans with the central bank under ways and means advances in the week ended Dec. 7, according to the Reserve Bank of India's weekly statistical supplement released on Friday.
Indus Towers Wins Big at CII Industrial Innovation Awards 2018
/ -- Bags the award for the Most Innovative Company (Large) in Services Indus Towers, world's largest telecom tower company (outside China), has bagged the 'Top Innovative Company (Large) in Services' award at the fifth CII Industrial Innovations Awards 2018. With this, the company has also been recognized as one of the 'Top 25 Most Innovative Companies in India' by Confederation of Indian Industry (CII). Launched in 2014, the CII Industrial Innovation Awards identify and celebrate innovative Indian enterprises across various sectors to encourage industry to adopt a structured Innovation Framework in their operations and measure their performance periodically on the way to moving up the Innovation Value Chain. The Framework has been widely appreciated by the industry and the number of applications for this prestigious award has been increasing year after year. Sharing his perspective on this recognition, Bimal Dayal, CEO, Indus Towers, said, "It is indeed an honour to be selected in .
Merck to bolster animal health unit with $2.4 billion purchase of Antelliq
(Reuters) - U.S. drugmaker Merck and Co said on Friday it would buy privately held Antelliq Group, which makes digital identification products for animals, for about 2.1 billion euros ($2.37 billion).
NCL plans expansion, to produce 100 mt in FY18
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.
CPCB slaps Rs 1 crore fine on three oil companies for failing to install anti-pollution devices
The Central Pollution Control Board has slapped a fine of Rs 1 crore each on three oil companies for their failure to install anti-pollution "vapour recovery" systems at fuel stations. The fine has been slapped on public sector oil firms Bharat Petroleum Corporation Limited, Hindustan Petroleum Corporation Limited and Indian Oil Corporation Limited. Vapour recovery device is an instrument to capture displaced vapours that emerge from inside a vehicle's fuel tank while filling petrol or diesel in it. In separate notices issued to the oil companies dated December 12, CPCB Chairperson S P S Parihar had said the pollution regulator's teams found during inspection that the vapour recovery systems were either not installed or were not functioning at the fuel stations and sought an explanation for the same. Parihar noted that the explanation given to the pollution watchdog was "unsatisfactory", following which he directed the three oil companies to pay an environmental compensation of Rs 1 ..
Rupee skids 22 paise to 71.90 against US dollar
The rupee declined by 22 paise to close at 71.90 against the US dollar Friday amid strengthening of the greenback and cautious trading in the domestic equity market. Forex traders said the rupee came under pressure following strengthening of the dollar against major currencies overseas, while caution prevailed amid the RBI's central board meeting under new Governor Shaktikanta Das. At the Interbank Foreign Exchange (forex) market, the local unit opened lower at 71.80 and fell further to touch the day's low of 72.04. However, it pared some losses and finally ended at 71.90 per dollar, down by 22 paise against its previous close. On Thursday, the Indian rupee had plunged 33 paise to 71.68 per US dollar. Benchmark indices finished with modest gains after a see-saw session Friday. The BSE Sensex ticked higher by 33.29 points, or 0.09 per cent, to end at 35,962.93, while the broader NSE Nifty rose 13.90 points, or 0.13 per cent, to 10,805.45. Brent crude, the international benchmark, was ..
NIIT Ltd. appoints Bimaljeet Singh Bhasin as President - Skills and Careers Business (SNC) India operations
NIIT Limited, a global leader in skills and talent development, announced the appointment of Bimaljeet Singh Bhasin as the President - Skills and Careers Business (SNC) India Operations.Bimaljeet will be responsible for driving NIIT's Skills and Careers Business, which focuses on providing career related learning and talent development programs to individuals and enterprises in India.Bimaljeet brings with him a diverse career experience of over 2 decades that spans leadership roles focused on building and scaling businesses. Bimal is an MBA from Symbiosis Institute of International Business, Pune and an alumnus of the Chicago Booth Accelerated Development Program.In his last stint, Bimaljeet was with Manipal Global Education as the Vice President and Head-Enterprise Business. Prior to Manipal Global, Bimal worked with Wipro Limited for over a decade where he held multiple leadership roles.Welcoming Bimaljeet on board, Sapnesh Lalla, CEO, NIIT Limited said, "We are delighted to have ...
Falsehood has short life, it lowers credibility of creator: Jaitley on Rafale judgement
Falsehood has a very short life and it lowers the credibility of its creator, remarked Finance Minister Arun Jaitley on Friday while reacting to the Supreme Court verdict rejecting petitions pertaining to the Rafale fighter jets deal."The disruptors have lost and they have lost on all counts. They have lost on the count that the need of this combat aircraft was acute and necessary," he said.Intensifying his attack on the Opposition, Jaitley said: "Now, somebody has to answer a question that after shortlisting this purchase, both in terms of quality and cost, why it was virtually stopped if not abandoned? Why was national security compromised with? Why was needs of the Air Force compromised with?""It has protected both security interest and commercial interest of India. Security interest because it increases the combat ability of our forces and commercial interest because that sealed envelope indicated that the final price was significantly lower, both for the aircraft and the ...
India's services exports jump 18.8% in October 2018
Services trade surplus improves 23.2% to US$ 6.72 billion in October 2018
Railways to offer 25% discount in haulage rate on transport of empty containers and flat wagons
Big relief to small and medium businessman particularly importers, ultimately benefiting the customers
India Post announces full-fledged entry into e-commerce
India Post on Wednesday announced full-fledged entry into e-commerce business, where it will leverage its parcel business for end-to-end delivery of products. "We have simplified decision-making process at Department of Posts (DoP) by setting up a separate parcel directorate. It can make quick decision on parcel rates and related provisions. India Post will leverage its vast network for e-commerce services for doorstep delivery of products," Communications Minister Manoj Sinha told reporters. The minister also launched India Post's e-commerce portal. Earlier, any decision related to change in parcel delivery rates or matching services of private players required approval from top officials, which was time-consuming. The DoP has set up parcel directorate which is free to take decision to match the competition. "India Post is open for registration of all vendors for e-commerce business. It will pick up products from vendor and deliver to doorstep of customers," Sinha said. India Post ...
Nifty December 2018 futures at premium
Yes Bank, Reliance Industries, Infosys December 2018 futures most active
Pak receives second USD 1 billion bailout package from Saudi Arabia
Cash-strapped Pakistan on Friday received USD 1 billion from its close ally Saudi Arabia as part of a second bailout package to boost the country's dwindling dollar reserves, according to media reports. The latest package has shored up the central bank's foreign reserves, hitting the USD 9.4 billion mark, said State Bank of Pakistan Spokesman Abid Qamar. He said another Saudi financial package was expected in January next year, Dawn newspaper reported. In October, Saudi Arabia agreed to provide Pakistan USD 3 billion in foreign currency support for a year to address its balance-of-payments crisis. During Prime Minister Imran Khan's visit to Saudi Arabia on October 23, it was announced that the oil-rich country will provide a USD 6 billion package to Pakistan to support its ailing economy. The package included USD 3 billion balance of payments support and USD 3 billion in deferred payments on oil import. Pakistan received the first tranche of USD 1 billion from Saudi Arabia on November
India's fuel product consumption declines 1.8% in November 2018
Fuel product consumption rises 2.5% in April-November 2018
AVPN hosts maiden India Policy Forum with action-oriented opportunities for collaboration between Public and Private Investors
The Asian Venture Philanthropist Network (AVPN) the Pan-Asian social investment network, hosted its maiden India Policy Forum, themed Aspirational DistrictsThe India Policy Forum was held at the U-Chicago Centre in New Delhi, which kicked off with a keynote address from Amitabh Kant, CEO, NITI Aayog and witnessed the participation of several key stakeholders including inter alia Prof. S V Subramanian, Harvard University; Dr. Shamika Ravi, Brookings India; Rai Mahimapat Ray, Deputy Commissioner Office, Ranchi District; Naghma Mulla, EdelGive Foundation; Abhishek Gupta, Dept. of Technical Education & School Education, Government of Delhi; Anjali Nayyar, Global Health Strategies; Pradeep Nair, Ford Foundation; Samik Sundar Das, World Bank and Rohan Sandhu, International Innovation Corps.In his keynote address at the AVPN India Policy Forum 2018, Mr. Amitabh Kant, CEO of NITI Aayog reinforced the Government of India's commitment to improve key development indicators in Aspirational ...
Govt to set up National Medical Devices Promotion Council
The government Friday said it will set up National Medical Devices Promotion Council (NMDPC) to boost manufacturing, attract investments and promote exports of the fast-growing sector. "As Indian manufacturing companies and startups move towards creating innovative products, the setting-up of the council will spur domestic manufacturing in this sector," the Commerce and Industry Ministry said in a statement. It said the medical devices industry plays a critical role in the healthcare ecosystem and is indispensable to achieve the goal of health for all citizens. The manufacturing and trade in the sector is growing steadily which includes a wide range of products. Although the industry has been growing in double digits, it is predominantly import-driven, with imports accounting for over 65 per cent of the domestic market. The council, it said, will undertake several activities including facilitation, promotion and development of the sector besides holding seminars and workshops to ...
Oil falls on China economic data, output cuts support
LONDON (Reuters) - Oil prices slipped on Friday after China reported slower economic growth, pointing to lower fuel demand in the world's biggest oil importer, although market sentiment was supported by supply cuts agreed last week by major crude producers.
India's software market to grow 14% in 2018: IDC
Riding on Digital Transformation (DX) initiatives, India's software market is expected to register an year-on-year (YoY) growth of 14.1 per cent by the end of 2018, a new report by International Data Corporation (IDC) said on Friday.
Coriander futures rise 1.06% on spot demand
Coriander prices rose by 1.06 per cent to Rs 6,751 per quintal in futures market Friday as participants built up fresh positions on the back of rising demand at the spot market. Besides, tight stocks on account of restricted arrivals from major growing regions weighed on coriander futures. At the National Commodity and Derivatives Exchange, coriander for October edged higher by Rs 71, or 1.06 per cent, to Rs 6,751 per quintal, with an open interest of 22,700 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 April, too, was trading higher by Rs 88, or 1.27 per cent, to Rs 7,000 per quintal with an open interest of 8,600 lots.