Page 1566 - Business Finance

Standard Chartered axes over 200 jobs in India - source

(Reuters) - Standard Chartered Plc has laid off over 200 employees in India in its retail banking division, as more customers move to digital services, a person familiar with the matter told Reuters on Thursday.

Caterpillar CEO Jim Umpleby to take on chairman role

(Reuters) - Caterpillar Inc said on Thursday Chief Executive Officer Jim Umpleby would take on the additional role of chairman, effective immediately.

Bond giant Pimco expects 30 percent chance of U.S. recession in '19

NEW YORK (Reuters) - Declining global economic growth rates will boost defensive stocks and could lead to opportunities in emerging market currencies and mortgage bonds in the year ahead, asset manager Pacific Investment Management Co (Pimco) said in its 2019 outlook on Thursday.

President Kovind inaugurates 'Enterprise India' exhibition in Yangon

President Ram Nath Kovind inaugurated 'Enterprise India' exhibition here on Thursday, bringing in the best of Indian products, services, innovation and know-how to business partners, start-ups, incubators and customers in Myanmar.This exhibition has been set up by the Confederation of Indian Industry (CII), including about 45-50 Indian companies ranging from very large companies to small enterprises, to showcase Indian manufacturing capabilities and industrial technology.The official spokesperson of the Ministry of External Affairs tweeted, "Harnessing Complementaries! While addressing the Fifth Enterprise India Show jointly organised by CII and Union of Myanmar Federation of Chambers of Commerce in #Yangon, #PresidentKovind asked companies from both countries to leverage each other competencies! @FollowCII"President Kovind said that India is focusing on fostering micro and small enterprises, driving financial inclusion and imparting skills. India's micro-credit scheme MUDRA has so ...

Oil prices edge up on hopes global supplies will tighten

NEW YORK (Reuters) - Oil prices climbed 1 percent on Thursday, after data showed inventory declines in the United States and as investors began to expect that the global oil market could have a deficit sooner than they had previously thought.

Qatar 2019 budget projects small spending boost, return to surplus

DOHA (Reuters) - Qatar's state budget for 2019 features a small rise in government spending and the first surplus in three years thanks to higher oil prices and a new tax, the finance ministry said on Thursday.

Gold eases to 1-week low as dollar, stocks gain

BENGALURU (Reuters) - Gold eased to its lowest in nearly one week on Thursday as the dollar rose and investors latched on to gains in global stocks, while palladium touched record highs on expectations of higher demand.

Yes Bank to submit name for MD & CEO to RBI in January

Yes Bank on Thursday said the final recommendation for the company's Managing Director and Chief Executive will be submitted to the Reserve Bank of India (RBI) post its Board meeting on January 9, 2019.

Delta Air Lines shares drop on weak revenue outlook

(Reuters) - Shares in U.S. carrier Delta Air Lines Inc dropped 4 percent in Thursday morning trading on concerns that slowing global economies would limit the No. 2 U.S. airline's revenue growth in 2019 despite strong travel demand.

Sports Direct's Ashley sends shivers along UK high street

LONDON (Reuters) - Sports Direct owner Mike Ashley said trading in November was "unbelievably bad", sending shares in the retailer down nearly 20 percent and adding to a wider sense of gloom hanging over British high streets during the peak Christmas season.

Wall Street pares gains after trade-fueled rally

(Reuters) - U.S. stocks gave up early gains on Thursday, as a rally sparked by progress in U.S.-China trade talks faded, with investors moving into defensive sectors such as real estate and utilities.

Trai revamps MNP rules to make number portability quicker, simpler

Telecom regulator Trai Thursday revamped mobile number portability (MNP) rules, making the entire process faster and simpler, and prescribed two days timeline for port out requests within a service area. Similarly, timeline of four working days has been prescribed for requests for port out from one circle to other. The latest amendments to the Telecommunication Mobile Number Portability regulations form part of the regulator's "continuous endeavour" to make the process more "subscriber-friendly", according to a statement by the Telecom Regulatory Authority of India (Trai). Each "wrongful rejection" of the request for porting will attract penalty of up to Rs 10,000. "... porting timeline of 2 working days has been provisioned for the requests of Intra-Licensed Service Area (Intra-LSA) numbers except the requests made under corporate category and the timelines of 4 working days has been provisioned for all the porting requests of Inter-Licensed Service Area (Inter-LSA) numbers and ...

NCLT issues contempt notice to Omaxe CMD Rohtas Goel

Real estate firm Omaxe Group's second-largest promoter, Sunil Goel, on Thursday said that the National Company Law Tribunal (NCLT) Delhi has issued a contempt of court notice to Rohtas Goel and other directors of Buildwell Builders Pvt Ltd in a malpractices and financial mismanagment case.

Exclusive: Motherson Sumi in early stage merger talks with Leoni - sources

FRANKFURT/HONG KONG (Reuters) - Car wiring maker Motherson Sumi is in early-stage talks with German peer Leoni over a possible combination of the two companies, two people close to the matter said.

Expedite land allotment for petro projects: Pradhan to Naveen

Union minister Dharmendra Pradhan has urged Odisha Chief Minister Naveen Patnaik to expedite land allotment for the upcoming projects in the petroleum sector in Paradip. Stating that IOCL is about to finalise its almost Rs 40,000 crore investments in new projects in Odisha, Pradhan in a letter to Patnaik wrote that petcoke gasification-based projects and a refinery capacity expansion project at Paradip required land allotment. A textile park project at Bhadrak also requires land allotment, Pradhan wrote in the letter. The Union petroleum minister also wrote that Taiwans state-owned petroleum firm CPC Corporation has come forward for investing Rs 43,000 crore in its greenfield petrochemical projects in Paradip. That also required land allotment, he said in the letter written on Wednesday. "It is rather unfortunate and discouraging that the Odisha government has not allotted the required land yet for the projects," Pradhan wrote. He requested the chief minister to issue ...

Global Markets: Stocks edge up on trade hopes; Euro dips after ECB

NEW YORK (Reuters) - A gauge of world equities climbed for a third straight session on U.S. trade hopes on Thursday and the pound and the euro eased after the latest bout of Brexit drama and ECB announcement.

Nissan India to raise prices from Jan 1

Nissan India on Thursday announced a price hike of up to 4 per cent across its models range effective from January 1, 2019.

Amazon India signs MoU on marketing support for MSMEs

Amazon's Indian arm on Thursday signed an MoU with the Federation of Indian Micro, Small and Medium Enterprises (FISME) to support sellers in the segment under which the e-commerce major would provide the platform and logistics, while FISME would provide support in the area of policy and regulations.

Eastern states, rural areas, new cities to drive India's growth: Jaitley

Finance Minister Arun Jaitley on Thursday said eastern states, rural areas and new cities will fuel the next stage of India's growth, which is likely to be a $5 trillion economy around the second half of next decade.

Stock of co-working spaces at 15 mn sq ft across 7 cities: Report

The total stock of co-working spaces across seven major cities in India stood at 15 million square feet as of September 2018, higher by 50 per cent from the total space available in 2017, a CBRE report said on Thursday.