Page 1673 - Business Finance

HDFC Life favours high-yield Indian corporate bonds over government debt

MUMBAI (Reuters) - India's HDFC Standard Life Insurance is looking to invest in high-yielding Indian corporate bonds rather than longer-term government securities, saying a recent easing of inflation may not last and fiscal worries linger.

Markets sweat over Mexican president's 'true colors' on inauguration eve

MEXICO CITY/NEW YORK (Reuters) - During Andres Manuel Lopez Obrador's successful campaign for the Mexican presidency, his advisers met representatives of dozens of investment funds to allay fears about the leftist's plans, saying he prized economic stability and wanted to attract foreign capital.

Bangladeshi envoy calls for 'greater' Indian trade investment

Describing Bangladesh as the "most liberal and business-friendly economy" in the region, Bangladesh High Commissioner to India Syed Muazzem Ali has urged the Indian businessmen to make a greater investment in his country for mutual gains of the two closest neighbours."Prime Minister Sheikh Hasina and her Government have given maximum importance to transform Bangladesh into one of the most favoured investment destinations in South Asia," the envoy stated in a seminar at Aurangabad, Maharashtra on Friday.The seminar on investment potentials in Bangladesh was jointly organised by the Marathwada Chamber of Industries and Agriculture and Bangladesh Deputy High Commission in Mumbai.The Bangladeshi envoy said pro-investment policies are being implemented, along with massive reforms in the relevant government organisations.With annual economic growth registered at 7.86 per cent Bangladesh, the envoy said, the country is hungry for more investment in its economy. Bangladesh needs substantial ..

UBS becomes first foreign bank approved for majority stake in China JV

HONG KONG/SINGAPORE (Reuters) - China's securities regulator on Friday gave approval for UBS Group to hold the majority stake in its securities joint venture, making it the first foreign bank to take such control under new rules announced by Beijing last year.

Corrected - Oil falls, set for more than 20 pct loss in Nov amid swelling stocks

(Corrects change in week to unchanged for Brent and an increase for U.S. crude from a drop for both.)

Global Markets: Oil glut sends prices down 20 percent for November; shares little changed before Trump-Xi talks

NEW YORK (Reuters) - Oil prices retreated further on Friday amid a global glut, racking up a 20 percent drop for November, while most major equity markets kept moves tight ahead of weekend talks between U.S. President Donald Trump and Chinese leader Xi Jinping.

India's Forex reserves down $795 mn

India's foreign exchange (forex) reserves declined by $795 million during the week ended November 23, official data showed on Friday.

India's October core industrial output rises to 4.8%

The output growth of India's eight major industries accelerated in October 2018 to 4.8 per cent from 4.3 per cent in September, official data showed on Friday.

Losses at Naspers' e-commerce unit narrow but Tencent still dominates

JOHANNESBURG (Reuters) - South African internet giant Naspers reported a sharp narrowing of losses at its e-commerce unit on Friday, boosting chief executive Bob van Dijk's efforts to cut the company's dependence on its Chinese money spinner Tencent .

Ajay Bhushan Pandey takes over as Revenue Secretary

Unique Identification Authority of India (UIDAI) CEO Ajay Bhushan Pandey took over as the Union Revenue Secretary on Friday.Pandey will continue to head the UIDAI as its CEO and will also hold his position as the Chairman of Goods and Services Tax Network.Speaking to the media, Pandey said, "My priorities among others would be to help government improve Tax-GDP ratio, enhance tax compliance through an integration of technology, stabilise the implementation of GST, bring transparency and simplification of laws and procedures for better tax administration and ease of business."He also added that he would welcome any suggestions from the public regarding direct and indirect tax reforms as this would help to get feedback and pave the way for providing better incentives and services to the taxpayers.Pandey, an Indian Administrative Service officer with over 34 years of experience in State and Central Government has been associated with UIDAI for more than eight years where he played a key .

Oil falls, set for more than 20 pct loss in November amid swelling stocks

NEW YORK (Reuters) - Oil prices fell further on Friday as swelling inventories depressed sentiment despite widespread expectations that the Organization of the Petroleum Exporting Countries (OPEC) and Russia would agree some form of production cut next week.

Wall Street treads water ahead of Trump-Xi trade talk

(Reuters) - U.S. stocks were trading flat on Friday as investors stayed away from making bets ahead of a much-awaited meeting between the United States and China that could decide the course of a bitter trade dispute between the two economies.

Great Eastern Energy to invest $2 bn for shale gas development

The Great Eastern Energy Corporation (GEECL) on Friday said it would invest $2 billion over the next 10 years for shale gas exploration and development from its Raniganj block in West Bengal.

India's Q2 GDP growth slows to 7.1% as manufacturing activity declines (Roundup)

The pace of India's GDP growth slowed during the second quarter of 2018-19 to 7.1 per cent from 8.2 per cent in Q1, mainly on the back of a drop in manufacturing, even as the government attributed the slowdown to a higher base effect and higher import bill on account of oil prices and weakening of the rupee.

Honeywell to shift global headquarters to Charlotte

(Reuters) - Honeywell International Inc said on Friday it is relocating its global corporate headquarters to Charlotte, North Carolina, which is closer to several of the U.S. industrial conglomerate's businesses in the Southeast of the United States.

Exclusive: Vodafone, Liberty Global deal faces full EU antitrust scrutiny - source

BRUSSELS (Reuters) - Vodafone's $21.8 billion proposed acquisition of Liberty Global's assets in Germany and eastern Europe is likely to face a full EU antitrust investigation, a person familiar with the matter said.

Policy concerning logistics, warehouse, retail to be formulated: Khattar

Haryana Chief Minister Manohar Lal Khattar said Friday a policy concerning logistics, warehouse, retail outlet and pharmaceutical will be formulated to encourage entrepreneurs of these fields and create job opportunities for the youth. While addressing a gathering at an event organised by the Confederation of Indian Industry (CII) here, he said that several steps have been taken by his government to ensure all round development of the state. "In this regard, five new cities similar to Gurgaon would be developed as the Economic Corridor around the Kundli-Manesar-Palwal (KMP) Expressway for which a panchgram or a KMP authority will be formed," he said. The chief minister said the state government had organised a "Happening Haryana Global Summit" in Gurgaon in which 350 MoUs entailing an investment of Rs 5.5 lakh crore were signed. "Works and clearances are being given on the investment of Rs 80,000 crore, which would create more than one lakh job opportunities," he said.

I support MNREGA, can't call it failure: Varun Gandhi

BJP MP Varun Gandhi Friday said MNREGA, a scheme from the UPA era which guarantees employment in rural areas, was a "good policy". Prime Minister Narendra Modi had once called the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) scheme a "living monument of UPA's failure" to tackle poverty. "I actually support MNREGA. I think it is a good policy. It is a misconception to say that the scheme is a failure," Gandhi said, addressing students of the Indian Institute of Management, Ahmedabad (IIM-A). The Sultanpur MP was invited by the institute to speak on issues he had written about in his upcoming book 'A Rural Manifesto: Realising India's Future Through Her Villages'. Gandhi said villagers should be given the power to decide what kind of work they wanted in the villages under MNREGA. He said instead of focusing on "next elections", he would prefer to think about "next generation". Gandhi also said that looking at the backgrounds of the Indian Administrative Service ...

Stocks waver before trade meeting; oil prices fall again

Stocks are wobbling ahead of the highly-anticipating trade meeting between President Donald Trump and President Xi Jinping of China. Investors have long hoped the two will use their meeting at the Group of 20 summit to start resolving the trade dispute between the two countries. Energy companies sank as crude oil dropped under USD 50 a barrel for the first time since September 2017. The S&P 500 index added 2 points, or 0.1 per cent, to 2,740 at 10 am Eastern time. The Dow Jones Industrial Average slipped 20 points, or 0.1 per cent, to 25,318. The Nasdaq composite gained 4 points, or 0.1 per cent, to 7,277. The Russell 2000 index of smaller-company stocks edged up 1 point, or 0.1 per cent, to 1,526. Stocks have rallied this week after falling to a six-month low last Friday. The S&P 500 is up 1 per cent this month, but it's still 6.5 per cent away from the all-time high it set in late September. While the US and China have been sparring for months over technology policy and ...

ECB takes on PayPal with instant payment system

FRASCATI, Italy (Reuters) - The European Central Bank launched on Friday a new system aimed at letting banks settle payments instantly across Europe, helping them to compete with PayPal and other global tech giants.