Page 1618 - Business Finance
Diesel-loaded tankers stranded in Asia as buyers retreat; rates jump
SINGAPORE (Reuters) - Several tankers carrying diesel fuel are floating off Taiwan and Southeast Asian waters as a steep fall in oil prices kept buyers at bay, trade and shipping sources said on Friday, helping push rates to their highest since January 2016.
Air Italy launches Delhi-Milan flight
Air Italy launched its direct flight service connecting Delhi and Milan on Friday, with the first flight taking off at 6 a.m from the Indira Gandhi International Airport.
Outcome of board meeting of Innovators Facade Systems
Held on 07 December 2018
Navkar Corporation Ltd leads losers in 'A' group
Inox Wind Ltd, Magma Fincorp Ltd, HCL Technologies Ltd and Jubilant Foodworks Ltd are among the other losers in the BSE's 'A' group today, 07 December 2018.
Hathway Cable & Datacom Ltd unchanged for five straight sessions
The stock is quoting at Rs 30.55, flat on the day as on 12:44 IST on the NSE. Hathway Cable & Datacom Ltd is down 22.26% in last one year as compared to a 3.7% fall in NIFTY and a 24.64% fall in the Nifty Media.
Gold futures up Rs 15 on firm global leads
Gold prices rose by Rs 15 to Rs 31,104 per 10 gram in futures trade Friday as speculators raised their bets, taking positive cues from the global markets. At the Multi Commodity Exchange, gold for delivery in December was trading higher by Rs 15, or 0.05 per cent, to Rs 31,104 per 10 gram in a business turnover of 13,435 lots. In global markets, gold rebounded Thursday to a near five-month peak as the dollar declined amid expectations of a slowdown in the pace of the US interest rate hikes, with investors seeking refuge in the bullion from a sell-off in global stocks, say reports. In the domestic market, the prices were up on increase in demand from local jewellers. At the Multi Commodity Exchange, gold for delivery in February next year was trading up by 0.13 per cent, to 31,130 per 10 gram. Globally, the gold was trading 0.19 per cent higher at USD 1,240.47 an ounce in Singapore.
Board of Zenlabs Ethica approves change in company secretary
At meeting held on 07 December 2018
Sensex, Nifty trading firm
Key equity benchmarks were trading on a firm note near the day's high in mid-afternoon trade. At 14:28 IST, the barometer index, the S&P BSE Sensex, was up 196.62 points or 0.56% at 35,508.75. The Nifty 50 index was up 38.50 points or 0.36% at 10,639.65.
Kavveri Telecom Products Ltd leads losers in 'B' group
BSEL Infrastructure Realty Ltd, Soma Textiles & Industries Ltd, Almondz Global Securities Ltd and Punj Lloyd Ltd are among the other losers in the BSE's 'B' group today, 07 December 2018.
UP govt plans 30 pc discount on khadi products to boost sales
The Uttar Pradesh government is mulling giving 30 per cent discount on khadi products to boost the sales, a state minister said Friday. "UP is the biggest market for khadi and has a huge demand for its products. We are considering to introduce 30 per cent discount to popularise it," said Minister of Khadi and Village Industries Satyadev Pachauri. At present 15 per cent discount is given on khadi items, he added. The state also plans to develop a khadi park and khadi board for promotion of Khadi articles, the minister said. He further said more emphasis will be given to promote khadi products among the youth.
Pioneer bought by Hong-Kong fund
Japanese electronics firm Pioneer said Friday it will become a wholly owned unit of a Hong Kong-based fund to rebuild itself in a deal worth $904 million. Pioneer, known for its audio equipment as well as car electronics systems, said Baring Private Equity Asia has agreed on a 102-billion-yen ($904 million) plan to revive the struggling Tokyo-based company. Baring will make a 77-billion-yen investment in Pioneer, along with a 25-billion-yen offer to buy existing shares from shareholders. "These steps will secure working capital vital for Pioneer's business operations," a joint statement from the two firms said. "Once privatised, a range of significant changes will be made to revitalise Pioneer, including reviews of the company's business lines as well as structural reforms and an overhaul of the management team," it said. The deal is subject to approvals from Pioneer shareholders as well as regulatory agencies. Pioneer, which celebrated its 80th anniversary this year, expanded from ...
Suresh Prabhu urges start-ups to boost India's agricultural yield
India's predominantly small agricultural holdings present a unique opportunity for budding start-ups to explore ways and means to increase crop yield from small parcels of farmland using technology, Union Minister for Commerce and Industry Suresh Prabhu said on Friday.
Nissan announces fresh recall due to improper inspections
Nissan on Friday announced plans to recall approximately 150,000 vehicles owing to improper tests on new units, dealing a fresh blow to the Japanese car giant following the shock arrest of former chairman Carlos Ghosn. "Nissan has recently found several nonconformities that may have caused inaccurate pass/fail judgements during the inspection process," the company said in a statement, adding that it will "promptly" recall as many as 150,000 units in Japan.
HCL buys IBM Software Products for $1.8 bn
Indian software major HCL Technologies on Friday said it was acquiring IBM Software Products for $1.8 billion (Rs 12,700 crore) in an all-cash deal.
India growth story: Worst over, best yet to come says Prabhu
Commerce minister Suresh Prabhu Friday was optimistic on the India growth story saying, "the worst is over and best is yet to come." The minister was addressing the Global Venture Capital Summit in Goa, attended by over 100 investors from across the globe keen on start-ups. "There is no market, which is exciting as India...This is a new phase in Indias growth story," Prabhu said inviting investors to participate in this. The minister said phenomenal growth will take place in every sector. Noting the drive of infrastructure creation in the country under the Narendra Modi-led government, Prabhu said this is a dire need for such a large country. "The government has to invest more than 10 per cent on infrastructure year after year. That is because we failed to do it in the past," he said indirectly blaming the former Congress-led governments at the Centre. Prabhu, who was also railway minister, said on that front,the entire investment was running into hundreds of billions of
China's Iran oil imports to rebound in Dec as buyers use U.S. waivers
BEIJING/SINGAPORE (Reuters) - China's Iranian oil imports are set to rebound in December after two state-owned refiners in the world's largest oil importer began using the nation's waiver from U.S. sanctions on Iran, according to industry sources and data on Refinitiv Eikon.
Japan govt to halt buying Huawei, ZTE equipment - sources
TOKYO (Reuters) - Japan plans to ban government purchases of equipment from China's Huawei Technologies Co Ltd and ZTE Corp to beef up its defences against intelligence leaks and cyber attacks, sources told Reuters.
TrustLine launches intrinsic deep alpha fund as AIF category III offering
TrustLine Holdings, the leading Equity Research and Portfolio Management firm has announced the launch of its Intrinsic Deep Alpha fund.This Category III AIF fund will focus on micro and small cap space in the sub-500 Cr. market cap segment and aim at early-stage investing in the listed space. TrustLine is among the top discretionary portfolio managers in India with industry leading performance.The fund with a minimum investment size of Rs. 1 crore is a "Close" ended scheme with a term of 5 years as per SEBI AIF Regulations, 2012. It would focus on early investment in small companies in promising high growth sectors, when they are in their infancy, thus having potential to deliver exceptional returns when they scale up."With the opening up of SME platform, small and micro-cap space offers brilliant opportunities for long-term wealth creation. Our new AIF fund aims to capitalize on this growing opportunity. Our objective is to create 'Rich' portfolio from 'Small' gems," said ArunaGiri .
Piramal Enterprises Ltd drops for fifth straight session
The stock is quoting at Rs 2072.9, down 1.42% on the day as on 13:19 IST on the NSE. Piramal Enterprises Ltd tumbled 27.6% in last one year as compared to a 3.39% rally in NIFTY and a 4.72% fall in the Nifty Pharma index.