Page 1639 - Business Finance
ShoppRe.com, a Unique Idea by 2 Women Entrepreneurs, Facilitates Global Shoppers to Shop From Indian Stores
/ -- INR 100 Million invested in ShoppRe, which acts as a bridge between people living abroad and Indian Shopping Sites like Flipkart, Myntra, Amazon, etc ShoppRe.com, an International shipping & consolidation company, that optimizes cross-border e-commerce from India, is setting foot in Dubai with a series of marketing campaigns. (Photo: https://mma.prnewswire.com/media/794023/Shoppre_com_Dubai_Launch.jpg ) The brand ambassadors - Ms. Priyamani, National Award-Winning Actress and her husband Mr. Mustufa Raj, a prominent businessman - kick-started the Official Launch in Flora Inn Hotel, Dubai, by releasing the new ad campaign. "I can totally relate to people who have just shifted abroad and badly miss shopping from India. ShoppRe makes it possible to have your favorite Indian goods delivered right to your doorsteps," said Priyamani. Mr. V.A. Hassan - CEO of Flora Group of Hotels & SBK Real-Estate, Dubai - the major investor of the company, launched the website. "I have been ..
Businesses hitting the brakes in Europe, show scant sign of accelerating
LONDON (Reuters) - Businesses across Europe hit the brakes last month as a manufacturing slowdown in the euro zone spread to its dominant service industry, while Brexit uncertainty hammered British companies, surveys showed.
Berlin: German automakers' meeting with Trump separate to U.S.-EU trade talks
BERLIN (Reuters) - Discussions between German car executives and President Donald Trump in Washington on Tuesday should be seen as separate from the trade talks between the European Union and the United States, a German government spokeswoman said on Wednesday.
Quick Wrap: Nifty Metal Index declines 3.61%
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Oil prices fall on swelling glut, economic growth concerns
SINGAPORE (Reuters) - Oil fell on Wednesday as a swelling supply glut and signs of an economic slowdown weighed on crude prices a day ahead of an OPEC meeting at which the producer club is expected to decide supply cuts.
P I Industries allots 1.23 lakh shares to PII ESOP Trust
The paid up equity share capital of the Company after the above allotment of 1,23,333 equity shares of Re.1/- each stands increased from Rs.13,79,07,.318/- to Rs.13,80,30,651/- comprising of 138030651 equity shares of Re.1/- each.
Lemon Tree Hotels opens new hotel 'Lemon Tree Premier' in Pune
With opening of this Hotel, the company operates 52 Hotels including managed properties across 31 cities in India.
Nifty, Sensex at 1-week closing low; RBI keeps rates on hold
(Reuters) - Indian shares hit a one-week closing low on Wednesday after the country's central bank left interest rates unchanged, while resurgent trade worries dented global sentiment.
Corrected: Oil prices fall on swelling glut, economic growth concerns
(Corrects release day for EIA weekly data, paragraph 5)
Cargo growth to continue driven by crude, containers: Study
The prospects of the Indian port sector are favourable, supported by healthy growth in cargo of volume drivers like crude and coal, and over the medium to long-term, it will continue to gain traction, ratings agency Icra expects. Giving the sector a stable year-end outlook, the agency said cargo growth has been driven by domestic requirements of crude oil to meet domestic petroleum requirements, and containers, given the cost and logistical advantages associated with containerisation. According to Icra, coal imports, which had become a concern over the last two years, have been witnessing a rebound and could continue to, with the momentum witnessed in first half of FY2019. "The prospects for the Indian port sector players in the medium-term are expected to be favourable, supported by continuing healthy growth in cargo of major volume drivers like coal, crude and containers," the agency said in a statement issued here. "Demand revival from the power sector and key ...
Vijay Mallya offers to repay 100 per cent of 'public money'
Fugitive liquor baron Vijay Mallya on Wednesday took to social media with an offer to pay back 100 per cent of "public money" to various Indian banks and urged the government to accept his offer, days ahead of a UK court's decision on his plea not to extradite him to India. The 62-year-old former Kingfisher Airlines boss, who has been on bail in the UK on an extradition warrant since his arrest in April last year, is fighting extradition to India on charges of fraud and money laundering allegedly amounting to around Rs 9,000 crores. A ruling in the case is expected at Westminster Magistrates' Court in London on December 10, but the businessman stressed that the extradition issue was a "separate" matter which will take its "own legal course". "The most important point is public money and I am offering to pay 100 per cent back. I humbly request the banks and government to take it. If payback refused, why," he questioned in one of his posts on Twitter. In reference to some Indian media ..
Sensex tanks 250 pts as RBI holds rate
Benchmark equity indices fell for the second straight day Wednesday as the RBI left the repo rate unchanged while global markets suffered a sell-off as concerns over the US-China trade war resurfaced. The BSE Sensex tumbled 249.90 points, or 0.69 per cent, to close at 35,884.41. Similarly, the broader NSE Nifty fell 84.55 points, or 0.74 per cent, to end at 10,784.95. The fall in domestic equities was led by metal, pharma, auto and banking stocks. The Reserve Bank of India Wednesday left the repo rate unchanged while maintaining the stance of 'calibrated tightening' of policy. The key rate remains at 6.5 per cent. This is for the second time in a row that the central bank did not tinker with the interest rate. Weakness in the rupee against the US dollar also weighed on domestic stocks. The local unit fell 11 paise to 70.60 against the US dollar intra-day. Global investor sentiment turned weak after uncertainty over negotiations between the US and China on their trade dispute. US ...
Issues of J-K Bank's accountability, transparency must be addressed: Tarigami
Welcoming Governor Satya Pal Malik's assurance of safeguarding the autonomy and operational independence of the J&K Bank, CPI(M) MLA M Y Tarigami on Wednesday said the issues of accountability and transparency must be addressed. Last month, Malik-led State Administrative Council (SAC) approved a proposal for treating the J&K Bank Limited as a PSU, bringing it under the purview of the Right to Information Act, the Chief Vigilance Commissioner guidelines and the state legislature. The move has come under widespread criticism. A delegation of Jammu and Kashmir Bank employees met Malik on Tuesday, following which he agreed to rethink the decision. "It is good that representatives of the bank employees and the governor's administration met and the issues have been clarified, which is a welcome step," Tarigami said in a statement. He said certain concerns, however, remained regarding transparency and accountability. The CPI(M) leader said these issues must be specifically addressed .
Hong Kong Stocks drop amid trade concerns
Local financial market opened lower on tracking losses in U.S markets overnight after President Donald Trump called himself Tariff Man and questioned whether a deal with China was possible.
China Stocks fall on trade concerns
China has issued an upbeat but vague promise to carry out a tariff cease-fire with Washington but gave no details that might help dispel confusion about what Presidents Xi Jinping and Donald Trump agreed to in Argentina. China has yet to confirm Trump's claim Beijing promised to cut auto tariffs and immediately buy more American farm goods. That has fueled doubts the weekend deal will lead to a lasting settlement of a fight over technology that threatens to chill global economic growth.
Market drops on weak global cues
Key benchmark indices logged modest losses led by slide on selling pressure in index pivotals. The barometer index, the S&P BSE Sensex, lost 249.90 points or 0.69% at 35,884.41, as per the provisional closing data. The Nifty 50 index lost 80.20 points or 0.74% at 10,789.30, as per the provisional closing data. Global stocks dropped as resurgent trade worries worsened investor fears about global economic growth. Volatility rose in late trade after the Reserve Bank of India (RBI) announced monetary policy.
Outlook for port sector stable, rebound in coal volumes positive for players:ICRA
Terming rebound in coal volumes and steady progress on the Sagarmala project positive for Indian port sector players in the medium term, rating agency ICRA Wednesday maintained stable year-end outlook for the port sector. "ICRA has given a stable outlook for the port sector, in its year-end assessment. The prospects for the Indian port sector players in the medium term are expected to be favourable, supported by continuing healthy growth in cargo of major volume drivers - Coal, Crude and Containers," the rating agency said in a statement. Coal imports, which had become a concern over the last 2 years, have been witnessing a rebound and could continue to with the momentum witnessed in first half of FY 2019, it said. Demand revival from the power sector and key consumer industries would be critical for sustained pick-up in coal imports, it said. Besides coal, ICRA expects that over the medium to long term, overall cargo growth will gain further traction, driven by domestic requirements .
RBI waiting to see how inflation risks pan out - Governor Urjit Patel
MUMBAI (Reuters) - The Reserve Bank of India would be ready to take policy action if upside risks to inflation do not materialise, Governor Urjit Patel said on Wednesday after the central bank announced it was holding interest rates steady for now.
RBI keeps policy rate intact; stance unchanged
In its penultimate monetary policy review of the current fiscal, the Reserve Bank of India (RBI) on Wednesday kept its key lending rate for commercial banks unchanged at 6.5 per cent for the second time in succession.
Petroleum Minister invites investors to Odisha
Union Petroleum Minister Dharmendra Pradhan on Wednesday requested investors to explore opportunities to enhance investments in Odisha.