Page 1597 - Business Finance
TCS and Singapore Airlines launch Intelligent Airline Operations (IAO) Solution
For transformation of airlines' ground services and operations control
RBI's institutional capabilities very strong; not dependent on any particular individual: Niti
A day after Urjit Patel resigned as RBI Governor, Niti Aayog Vice Chairman Rajiv Kumar Tuesday said the central bank's institutional capabilities are 'very strong' and it will do whatever is required for the markets and economy. Kumar further said although Patel has done an amazing work in the last two years as the RBI Governor, the functioning of the central bank is not dependent on any particular individual. "RBI's institutional capabilities are very strong and they will do whatever is required for the markets and economy. "The fact is that RBI itself is such a professional institution, and such a long-standing institution that you know, the business will continue," Kumar said on the sidelines of 'Inclusive Finance India Summit' here. Patel, who had a run-in with the government over autonomy of the central bank, resigned from his job on Monday, citing personal reasons. The Niti Aayog vice chairman also assured that the government will do whatever is required to continue its business
Oil inches up on Libyan export interruption, but markets remain weak
SINGAPORE (Reuters) - Oil prices edged up on Tuesday after Libya's National Oil Company declared force majeure on exports from the El Sharara oilfield, which was seized last weekend by a militia group.
WPP to spend $382 million to reboot world's biggest ad group
LONDON (Reuters) - WPP plans to spend 300 million pounds ($382 million) over the next three years to return the world's biggest advertising group to growth by reducing the number of agencies it runs and hiring more talent in New York.
RBI not dependent on one individual: Niti Aayog
Downplaying Reserve Bank of India (RBI) Governor Urjit Patel's resignation, Niti Aayog vice-chairman Rajiv Kumar on Tuesday said the central bank is a professional institution and is not dependent on one individual.
RBI Governor Urjit Patel Resigns
Patel became the RBI governor in September 2016, after Raghuram Rajan decided to step down at the end of his term. Previously, Patel served as deputy governor since 2013. His decision comes after the central bank was embroiled in a series of conflicts with the Narendra Modi government over crucial matters including central bank independence.
T T Ltd leads gainers in 'B' group
Landmark Property Development Company Ltd, Gillanders Arbuthnot & Company Ltd, IOL Chemicals & Pharmaceuticals Ltd and Next Mediaworks Ltd are among the other gainers in the BSE's 'B' group today, 11 December 2018.
Trading turns volatile; breadth positive
Steep volatility was witnessed as the key equity indices once again slipped into negative terrain after briefly turning positive in early afternoon trade. The recovery was supported by gains in Sun Pharmaceutical Industries, Axis Bank and IT pivotals. At 12:17 IST, the barometer index, the S&P BSE Sensex, was down 71.70 points or 0.21% at 34,888.02. The Nifty 50 index was down 23.05 points or 0.22% at 10,465.40.
Global Markets: Trade hopes support China, sterling totters on Brexit turmoil
SYDNEY (Reuters) - Chinese shares rose on Tuesday after Beijing confirmed it was still in trade talks with Washington, but investor confidence remained fragile in Asia after Britain's prime minister postponed a Brexit vote, sending the pound to near 20-month lows.
Japan court opts to detain Nissan's Ghosn through Dec. 20
A Tokyo court ruled Tuesday that Nissan Motor Co.'s former chairman, Carlos Ghosn, and another executive, both arrested November 19, can remain in custody through December 20. Their detention could continue for months more under the Japanese legal system. The Tokyo District Court decision comes a day after Ghosn, executive Greg Kelly and Nissan Motor were charged with violating financial laws by underreporting Ghosn's pay by about 5 billion yen (USD 44 million) in 2011-2015. The extended detention is for investigation of additional allegations prosecutors issued Monday against Ghosn and Kelly of underreporting another 4 billion yen (USD 36 million) in 2016-2018. The arrest of an industry icon admired in Japan and around the world stunned many and has raised concerns over the Japanese automaker and the future of its alliance with Renault SA of France. Ghosn's lawyer, Motonari Ohtsuru, has filed a protest with the court against the prolonged detention, Kyodo News service reported. ...
Panchayat polls: Kupwara records highest voter turnout till 10 am, Pulwama lowest
Kupwara district of Kashmir Division recorded the highest voter turnout of 14.8 per cent till 10 AM during the ongoing ninth phase of Panchayat polls.However, the polling was recorded abysmally low in the Ganderbal, Anantnag and Pulwama districts with 7.2 per cent, 7.1 per cent and 0.9 per cent respectively.Budgam was placed second in the list with 12.2 per cent voter turnout followed by Baramulla with 10.9 per cent and Bandipora 7.5 per cent.The voting which commenced at 8 am will conclude at 2 pm. The final result will come later in the day.According to the Chief Electoral Officer Jammu and Kashmir, 430 candidates are in the fray for 55 sarpanch and 138 panch seats, while 68 sarpanches and 433 panch have been elected unopposed for this phase. 68745 electorates are eligible for voting for sarpanch constituencies whereas it is 20688 for panch constituencies. In this phase, 452 polling stations are being set up of which 346 have been categorised as hypersensitive.As per the Chief ...
Markets react volatile amid election trends, Urjit Patel's exit
The markets on Tuesday witnessed a gap-down start ahead of the results of the state elections, and investors turning wary over the shocking resignation by the Reserve Bank of India (RBI) Governor Urjit Patel.The Sensex witnessed a sharp fall of 482.68 points at 34477.04, while the Nifty traded lower 116.70 points at 10371.80.With a negative breadth, sectors such as banks, automobiles, energy, consumption, and metals were amongst the top losers.The Indian rupee began trading on a negative note, with over 1.5 percent fall at 72.46 per US dollar.RBI Governor Urjit Patel stepped down just ahead of the scheduled meeting of the RBI board on December 14th to consider proposals like RBI governance and providing liquidity for Non Banking Financial Companies (NBFC's)."On account of personal reasons, I have decided to step down from my current position, effective immediately," he said in a statement."It has been my privilege and honor to serve in the Reserve Bank of India in various capacities ..
Corporation Bank leads gainers in 'A' group
Quess Corp Ltd, Dewan Housing Finance Corporation Ltd, UCO Bank and Yes Bank Ltd are among the other gainers in the BSE's 'A' group today, 11 December 2018.
Coriander prices dip 0.73 pc on subdued demand
Coriander prices fell 0.73 per cent to Rs 6,624 a quintal in futures market Tuesday as participants cut down positions amid muted domestic as well as export demand against ample stocks position. Besides, rising arrivals from major producing regions and profit-booking at higher levels weighed on the sentiment. At the National Commodity and Derivatives Exchange, coriander prices for delivery in January declined by Rs 49, or 0.73 per cent, to Rs 6,624 per quintal with an open interest of 21,900 lots. On similar lines, rates for far-month April was trading at Rs 6,838, down 0.68 per cent or Rs 47. The open interest of the contract stood at 7,690 lots. Analysts attributed the fall in coriander futures to subdued demand in the physical market against adequate stocks position on increased supplies from producing regions.
TMT (I) approves change in directorate
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Chana futures fall on muted demand
Chana prices declined 0.67 per cent to Rs 4,425 per quintal in futures trade Tuesday after participants reduced their exposure amid subdued demand at spot market. Profit-booking at higher levels also weighed on the sentiment. At the National Commodity and Derivatives Exchange, chana for delivery in December was trading lower by Rs 30, or 0.67 per cent, at Rs 4,425 per quintal, with an open interest of 7,530 lots. The January delivery rates also fell by Rs 30, or 0.66 per cent, to Rs 4,522 per quintal with an open interest of 34,350 lots. Marketmen said trimming of bets by traders due to easing demand in physical market against adequate stocks, mainly led to fall in chana prices at futures trade here.
Market sharply pares early losses
Key benchmark indices sharply pared early losses in mid-morning trade. At 11:20 IST, the barometer index, the S&P BSE Sensex, was down 92.28 points or 0.26% at 34,867.44. The Nifty 50 index was down 11.50 points or 0.11% at 10,476.95. The trading sentiment was dented in early trade after the Reserve Bank of India Governor, Urjit R. Patel, resigned from his post last evening citing personal reasons.
Castor seed prices dip by Rs 26 on muted demand
Castor seed prices dipped by Rs 26 to Rs 5,564 per quintal in futures trade Tuesday after investors tightened their bets amid muted trends. At the National Commodity and Derivatives Exchange, castor seed for December was trading lower by Rs 26, or 0.47 per cent, to Rs 5,564 per quintal. Castor seed prices for January next year, too, dipped by Rs 12, or 0.21 per cent, to Rs 5,650 per quintal, having an open interest of 23,875 lots.
UnionPay International Partners With Pine Labs to Expand Visibility in India
/ -- UnionPay International and Pine Labs today announced a partnership to create merchant and consumer awareness about acceptance of UnionPay debit and credit cards in India. As a result of this partnership, UnionPay cardholders all over the world who travel to India will be able to transact at all Pine Labs point-of-sale terminals in over 3,000 cities across diverse sectors - electronics, food & beverage, hospitality, fashion, pharmacy, telecom and airlines. (Logo: https://mma.prnewswire.com/media/770560/Pine_Labs_Logo.jpg ) "An estimated 100 million Chinese tourists travel internationally every year. The number of tourists travelling to India is growing steadily at 30% annually. UnionPay has realized acceptance at 90% of ATMs in India, and are now eager to improve our merchant acceptance coverage. We have seen tourists spend in hospitality, restaurant and organized retail sectors. Pine Labs' network is strong across all these sectors in India. We are happy to, therefore, ...
Global Markets: Trade hopes support China, sterling totters on Brexit woes
SYDNEY (Reuters) - Chinese shares pulled ahead on Tuesday after Beijing confirmed it was still in trade talks with the United States, though overall sentiment remained fragile in Asia as the pound wallowed near 20-month lows on deepening political turmoil over a Brexit deal.