Page 1640 - Business Finance
RBI pegs GDP growth rate at 7.4 pc
The Reserve Bank of India (RBI) on Wednesday pegged India's gross domestic product (GDP) growth rate for the financial year 2018-19 at 7.4 per cent and 7.2 per cent in H2."Based on an overall assessment, GDP growth for 2018-19 has been projected at 7.4 per cent (7.2-7.3 per cent in H2) as in the October policy, and for H1:2019-20 at 7.5 per cent, with risks somewhat to the downside," said the RBI in a statement after the bi-monthly meeting of the Monetary Policy Committee (MPC).In view of the current and evolving macroeconomic situation in the country, the RBI has decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.5 per cent.According to RBI, the lower 'rabi' sowing may adversely affect agriculture and hence rural demand. Financial market volatility, slowing global demand, and rising trade tensions pose a negative risk to exports."However, on the positive side, the decline in crude oil prices is expected to boost India's growth prospects .
Gold prices up Rs 100; silver slides Rs 140
Gold prices Wednesday rose by Rs 100 to close at Rs 31,950 per 10 gram at the bullion market in the national capital on an uptick in retail buying by local jewellers even though bleak market trend overseas restricted the gains further. Silver, on the other hand, dropped by Rs 140 to close at Rs 37,600 per kg due to slightly lower demand from industrial units and coin makers. Traders said demand from local jewellers in the ongoing wedding season lifted the gold prices though the gains were capped by subdued trend overseas, while the silver prices saw a fall on slightly reduced orders from industrial units and coin makers. In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose by Rs 100 each to Rs 31,950 and Rs 31,800 per 10 gram, respectively. Sovereign gold also saw a rise Wednesday by Rs 100 to Rs 24,800 per piece of 8 gram. However, globally, gold traded lower at USD 1,235.02 an ounce in New York, while silver was slightly down at USD 14.45 an ounce. Meanwhile,
Kaiser Corporation reports standalone net profit of Rs 0.01 crore in the September 2018 quarter
Sales rise 11.76% to Rs 0.19 crore
Government tax takes at record high with France in top spot - OECD
PARIS (Reuters) - France overtook Denmark as the most taxed country in 2017 as government tax revenues in developed countries hit a record high, the OECD said, data which may do little to help President Emmanuel Macron placate protesters angered over living costs.
Floating LNG cargoes in Asia find buyers as prices plunge
SINGAPORE (Reuters) - Several liquefied natural gas (LNG) cargoes that had been stored on vessels in Asian waters are now heading towards buyers' terminals in China, Japan or South Korea as spot prices for the super-chilled fuel have plunged this week to multi-month lows.
1MDB probe: Fugitive Malaysian financier faces fresh graft charges
The Malaysian police on Wednesday filed fresh charges against fugitive financier Low Taek Jho, a key figure in a corruption scandal involving state fund 1Malaysia Development Berhad (1MDB) that led to the fall of the previous government.
Refined soya oil futures slide 0.4 pc on adequate stocks
Refined soya oil prices eased by 0.4 per cent to Rs 727.3 per 10 kg in futures trade Wednesday as speculators trimmed bets, triggered by adequate stocks at spot market. At the National Commodity and Derivatives Exchange, refined soya oil for January next year, declined by Rs 2.9, or 0.4 per cent, to Rs 727.3 per 10 kg with an open interest of 53,950 lots. Likewise, the oil for February fell by Rs 5.45, or 0.75 per cent, to Rs 720 per 10 kg in 9,760 lots. Market analysts said, cutting down of positions by participants due to decline in demand against ample stocks mainly influenced the prices.
Jeera futures fall Rs 140 on muted demand
Jeera prices slide Rs 140 to Rs 18,865 per quintal in futures trade Wednesday amid profit-booking by speculators and muted spot demand. At the National Commodity and Derivatives Exchange, jeera delivery for January, next year, fell by Rs 140, or 0.74 per cent, to Rs 18,865 per quintal with an open interest of 2,574 lots. The spice to be delivered in far-month March also fell by Rs 280, or 1.55 per cent, to trade at Rs 17,790 per quintal in 723 lots. Analysts said apart form profit-booking by speculators at current levels, fall in demand at the spot market exerted pressure on jeera prices at futures trade here.
Tasty Dairy Specialities enters into MoU with Foundation Dutch Greenhouse Delta
To establish Centre of Excellence on Horticulture
Novartis India announces resignation of VC & MD
Effective 31 May 2019
RBI keeps rates on hold; to gradually reduce SLR
MUMBAI (Reuters) - The Reserve Bank of India (RBI) kept interest rates unchanged on Wednesday, in a decision that was widely expected as inflation has eased significantly, while it took steps to persuade banks to lend more in order to support an economy that has lost some momentum.
RBI keeps repo rate unchanged at 6.5 pc
In view of the "current and evolving macroeconomic situation" in the country, the Reserve Bank of India (RBI) on Wednesday decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.5 per cent. The decision was taken at the fifth bi-monthly meeting of the Monetary Policy Committee (MPC) of the RBI."On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.5 per cent," said the RBI in a press statement issued after the meeting.The repo rate is the rate at which the Central bank of India lends money to commercial banks in the event of any shortfall of funds, and which is also used by the monetary authorities to control inflation."Consequently, the reverse repo rate under the LAF remains at 6.25 per cent, and the marginal standing facility (MSF) rate and the bank rate at ..
Avaya inks pact to use Sestek's voice-enabled smart technologies
Global communications solution provider Avaya Inc on Wednesday signed a memorandum of understanding (MoU) with Sestek to bring voice-enabled smart technologies to its platforms.
Bharat Forge Ltd leads losers in 'A' group
Sun Pharma Advanced Research Company Ltd, DCM Shriram Ltd, Reliance Infrastructure Ltd and Sun Pharmaceuticals Industries Ltd are among the other losers in the BSE's 'A' group today, 05 December 2018.
Expert Views: RBI keeps rates on hold, as expected
(Reuters) - India's central bank kept interest rates unchanged at a policy meeting on Wednesday to offer support for an economy that has lost some momentum, in a decision that was widely expected as inflation has eased significantly. The monetary policy committee (MPC) kept the repo rate unchanged at 6.50 percent as predicted by 64 of 70 analysts in a Reuters poll. The central bank also retained its 'calibrated tightening' stance as expected.
Cottonseed oil cake futures fall on spot cues
Cottonseed oil cake prices fell by Rs 22.5 to Rs 1,866 per quintal in futures trade Wednesday on liquidation of holdings by speculators, tracking negative cues from the physical markets. Marketmen said traders were off-loading their holdings in tune with ample ready stocks amid subdued demand at the spot markets, leading to the downtrend in the cottonseed oil cake prices. At the National Commodity and Derivatives Exchange, cottonseed oil cake delivery for January receded by Rs 22.5, or 1.19 per cent, to Rs 1,866 per quintal, with an open interest of 29,690 lots. Similarly, the delivery for March 2019 fell by Rs 18, or 0.92 per cent, to Rs 1,928 per quintal, showing an open interest of 760 lots.
Strong domestic demand takes November services growth to four-month high - PMI
BENGALURU, Dec 5 (Reuters) - Business activity in India's dominant services sector expanded in November at the quickest pace in four months, lifted by a significant rise in domestic demand, a private survey showed on Wednesday.
Sweden's Telia sells its stake in Uzbekistan's Ucell for $215 million
STOCKHOLM (Reuters) - Nordic telecoms operator Telia said on Wednesday it had sold its stake in Uzbekistan's Ucell for $215 million on a debt-free basis, as part of its strategy to exit its Eurasian businesses.
Zomato acquires TechEagle Innovations
Zomato Wednesday said it has acquired Lucknow-based startup TechEagle Innovations, for an undisclosed amount, to carve a path toward drone-based food delivery in India. TechEagle will help in creating a hub-to-hub delivery network powered by hybrid multi-rotor drones, Zomato said in a statement. The company, however, did not share any financial details of the acquisition. Commenting on the development, Zomato Founder and CEO Deepinder Goyal said, "We are currently at the early stage of aerial innovations and are taking baby steps towards building a tomorrow wherein users can expect a drone to deliver the food they ordered online. We believe that robots powering the last mile delivery is an inevitable part of the future and hence is going to be a significant area of investment for us, Goyal said. Food delivery business currently contributes about 65 per cent to the overall revenue of the company, Zomato said.
Board of Picturehouse Media appoints director
At meeting held on 05 December 2018