Page 1741 - Business Finance
S.Africa plans USD 1bn investment in S.Sudan oil industry
South Africa and South Sudan signed an outline agreement on Friday that could see Pretoria invest around USD 1 billion (880 million euros) in South Sudan's struggling oil industry. The agreement, which will be subject to detailed negotiations between the countries, was made between two state-owned companies, South Africa's Central Energy Fund and South Sudan's Nile Petroleum Corporation. South Sudan's oil minister Ezekiel Lol Gatkuoth said the investment will go into building a refinery and pipelines as well as oil exploration and training of workers and engineers. South Sudan currently produces around 155,000 barrels per day, less than half of what production was at the start of the latest civil war in December 2013. The country does not have its own refinery, so it currently sends crude by pipeline across the northern border to Sudan for processing and export, and imports refined fuels. "When this refinery is complete it will have a capacity of producing 60,000 barrels of oil per ...
ADB tells Nepal to improve project performance to get more funds
Nepal needs to improve its project implementation performance which is the key to the country getting more funds for development projects, the Asian Development Bank (ADB) said on Friday. The ADB has increased the annual lending level to Nepal from about USD 254 million a year on average during 2014-16 to an annual average of USD 551 million in 2017-18, said Manila-based ADB Director General for South Asia, Diwesh Sharan, during a programme here. Improved portfolio performance will help the country to sustain and further tap opportunities for increased lending space provided by the ADB, he said. Sharan was speaking at the opening of the annual Tripartite Portfolio Review of ADB operations in Nepal. "After recording the highest disbursement and contract awards in 2016 and 2017, the overall performance of ADB operations in Nepal has been lagging behind in 2018," he said. Of the net available funding amount of USD 2.8 billion spread over 36 investment projects - 31 loans and 5 grants - ..
Oil prices hit 2018 low, even as OPEC plans to cut output
LONDON (Reuters) - Oil prices fell on Friday to their lowest this year, on course for their biggest one-month decline since late 2014 when OPEC opted to pump as much crude as it could to gain market share and sent prices on a near-unbroken two-year slide.
Euro zone November business growth much weaker than expected
(Reuters) - Euro zone business growth was much weaker than expected this month as exports fell sharply, hurt by a slowing global economy and an ongoing United States-led trade war, a survey showed on Friday.
Bradford university organises workshop in Delhi
Extending support to the government's Digital India programme, England's University of Bradford organised a workshop in the city on "Leadership in the Age of Digital Era". The workshop, part of the university's "India-Engagement symposium", focused on enhancing the knowledge of the participants regarding different leadership styles, skills and attributes associated with good leaders. "In recent times, India has projected itself in the global setting as a major hub for technological advancement and development. "However, there is further potential for Indian organisations to leverage new disruptive technologies such as the artificial intelligence, big data and block chain in order to out-innovate and out-execute established standards and outperform their competition both nationally and globally. In order to do so, having a forward-thinking mind-set and skill-set is imperative," Associate Dean of the Bradford University Vishanth Weerakkody said. He said leading an organisation is not a .
Will ensure adequate funds for gems & jewellery sector, says Prabhu
Commerce and Industry Minister Suresh Prabhu Friday said he has taken up with the finance ministry the issue concerning credit to the gems and jewellery sector to ensure adequate availability of funds for them. Prabhu also said the ministries are looking at the industry's demand of cutting import duty on gold to 4 per cent from the current 10 per cent. The industry also wants a reduction in the duty on diamond to 2.5 per cent from 7.5 per cent. "This is one of the important issues...for the industry that is export-oriented... If you have import duties, the working capital gets blocked up. So, we are already working on that. "At the same time, the Ministry of Finance has a responsibility to curtail CAD (current account deficit), therefore they are also trying to find out how we can keep the imports under control. So, we have to balance both together," the minister told reporters here. On financing issues of the sector, Prabhu said meetings were held with bankers to address the matter ..
Corrected: Euro zone November business growth much weaker than expected
(Reuters) - Euro zone business growth was much weaker than expected this month as exports fell sharply, hurt by a slowing global economy and an ongoing United States-led trade war, a survey showed on Friday.
CPSE ETF's 4th tranche to be available on BSE online platform from next wk
Leading stock exchange BSE has said subscriptions for the fourth tranche of CPSE ETFs will commence from next week on its Internet-based book building system (iBBS) platform, an online mechanism for investment. "The subscription CPSE ETF FFO-3 will commence from Wednesday, November 28, till Friday November 30, on BiMF (BSE iBBS Platform for Mutual Fund) module on iBBS platform of BSE," the exchange said in a circular. The facility, which will be provided through the iBBS platform, will be made available to trading members registered with mutual fund industry body Amfi. According to investment banking sources, the government is aiming to mop up Rs 8,000 crore, with a green-shoe option to retain either Rs 4,000 crore or Rs 6,000 crore from the fourth tranche of central public sector enterprises exchange-traded funds (CPSE ETFs). It has already raised Rs 11,500 crore in the earlier three tranches of the ETF, which functions like a mutual fund scheme. The number of scrips in the CPSE ETF .
Focus: Ethiopian Airlines steps up hunt for African connections
NAIROBI/ADDIS ABABA (Reuters) - Ethiopian Airlines is accelerating its strategy of weaving a patchwork of new African routes to soak up traffic on the continent and fly customers towards its more lucrative flights to rapidly expanding Asian markets.
Global Markets: European markets bring modest relief, euro sinks after weak German survey
LONDON (Reuters) - European markets opened higher on Friday with most stock indexes rising modestly after a volatile week in which company earnings and growth worries hit stocks, though the euro sank after a weaker-than-expected German business survey.
European markets bring modest relief, euro sinks after weak German survey
LONDON (Reuters) - European markets opened higher on Friday with most stock indexes rising modestly after a volatile week in which company earnings and growth worries hit stocks, though the euro sank after a weaker-than-expected German business survey.
RTCL reports consolidated net profit of Rs 1.29 crore in the September 2018 quarter
Reported sales nil
Scanpoint Geomatics consolidated net profit rises 12.00% in the September 2018 quarter
Sales rise 88.97% to Rs 8.22 crore
Lancer Containers Lines standalone net profit rises 99.19% in the September 2018 quarter
Sales rise 86.66% to Rs 43.81 crore
Valley Magnesite Company reports standalone net loss of Rs 0.02 crore in the September 2018 quarter
Sales reported at Rs 0.03 crore
Esaar (India) standalone net profit rises 160.00% in the September 2018 quarter
Sales rise 16.22% to Rs 0.43 crore
R J Shah & Company standalone net profit declines 37.50% in the September 2018 quarter
Reported sales nil
Nimbus Industries reports standalone net loss of Rs 0.07 crore in the September 2018 quarter
Sales decline 24.45% to Rs 11.68 crore
Mini Diamonds (India) standalone net profit declines 93.75% in the September 2018 quarter
Sales decline 18.23% to Rs 19.65 crore
Samyak International consolidated net profit rises 300.00% in the September 2018 quarter
Sales rise 25.92% to Rs 4.81 crore