Page 1749 - Business Finance
Ghosn's exit not the time to alter Renault-Nissan alliance: French official
PARIS (Reuters) - France has told Japan that now is not the time to contemplate changes in the power balance inside the Renault-Nissan alliance, an official in President Emmanuel Macron's office said on Thursday.
BMW India to increase prices by up to 4 per cent from January 2019
Luxury automobile manufacturer BMW India will increase prices by up to 4 per cent across its product portfolio effective from January 1, 2019.
Volvo Cars plans to assemble plug-in hybrid cars in India
Swedish carmaker Volvo Cars on Thursday said it would assemble plug-in hybrid cars in India from the end of 2019.
ONGC ordered to pay wharfage compensation to Mumbai Port Trust
State-run explorer Oil and Natural Gas Corporation (ONGC) has been ordered to pay wharfage compensation to the Mumbai Port Trust (MbPT) as wharfage compensation for the transportation of crude oil through two pipelines the company had laid within the limits of the government-owned port, ONGC said on Thursday.
Exclusive: Visa, Mastercard propose tourist card fee cut in EU antitrust probe - sources
BRUSSELS (Reuters) - Visa Inc and Mastercard have proposed lowering the fees merchants face when they accept payments from non-EU credit cards in a bid to settle a long-running EU antitrust investigation, people familiar with the matter said on Thursday.
Sebi bans Rainbow Industries, directors from securities market
Regulator Sebi Thursday barred Jharkhand-based Rainbow Industries and Constructions along with its nine former and present directors and promoter from the securities markets "till further directions" for violation of public issue norms. Besides, the regulator asked entities why directions of refunding money along with interest to investors should not be imposed on them and directed them to reply in 21 days from the date of the order. The regulator, in an interim order, said that Rainbow issued redeemable preference shares (RPS) to 5,379 persons amounting to Rs 6 crore during 2011-12. For the period 2012-13, it allotted RPS to 4,673 persons for Rs 5.36 crore. The offer of RPS was made to more than 49 persons, thereby it 'prima-facie' qualifies to be a public offer, Sebi said. The company, having made a public issue of RPS, was required to compulsory list the shares on a recognised stock exchange. It was also required to file a prospectus, among other things, Sebi added. However, it ...
PSA AVTEC Powertrain opens new factory in Hosur
: PSA AVTEC Powertrain Pvt Ltd, a joint venture between Groupe PSA, France, and AVTEC Group, India, opened its new greenfield facility in Hosur Thursday to make and supply 'advanced' and 'eco-friendly' powertrain for the domestic and foreign automotive market. Chairman of Groupe PSA (managing board) Carlos Tavares and chairman of C K Birla Group C K Birla inaugurated the factory. The initial manufacturing capacity of the plant would be about three lakh units for transmissions per annum and two lakh units for BS VI-compliant engines, a press release said. The facility would attract an investment of Rs 600 crore and create 800 new jobs, the release said. The plant would also produce gearboxes in the first phase to serve the domestic market, it said. "With this new facility, we have taken another critical step towards the implementation of our strategic push-to-pass plan and commitment to the Indian customers," the release quoted Tavares as saying. "The quality of the ...
No major plan to reduce ATMs: PNB
State-owned Punjab National Bank (PNB) Thursday said it has no major plans to reduce the number of its ATMs by March 2019. The statement comes a day after the Confederation of ATM Industry (CATMi) said changes in the regulatory landscape are making it unviable to operate ATMs, and may lead to the closure of half of the 2.38 lakh machines in the country by March 2019. PNB is one of the largest ATM service providers with 9,428 ATMs on pan-India basis. "PNB would like to clarify that it has no major plans to reduce ATMs by March 31 2019," the bank said in a statement. The security measures advised by the RBI are in the interest of the bank and the customers at large and PNB has already started the process of implementation of the security measures on its ATMs, it said. There is no plan to increase various charges related to ATM usage, it added.
Maharashtra bureaucrat gets 12th transfer in 13 years
A no-nonsense but popular Maharashtra bureaucrat Tukaram H. Mundhe was transferred for the 12th time in his 13 years as an Indian Administrative Service officer here on Thursday.
Asus eyes 30% share of India's gaming market
Taiwanese tech major Asus Thursday said it is confident of increasing its share in the growing Indian gaming PC market to 30 per cent by next year as it expands its product portfolio and brings in more affordable devices. The company, which competes against the likes of Dell and HP in the gaming category, has about 20 per cent share currently. Globally, it is the leader in the gaming category with about 32-33 per cent share. "We have seen strong growth in our business here. India is a key market for us. We will continue to ramp up our efforts and we expect to increase our market share to 30 per cent by mid next year from over 20 per cent now," ASUS India Head of Consumer Notebooks and ROG Business Arnold Su told PTI. He added that the Indian market offers huge opportunities across price points, be it mainstream or premium. The company's currently portfolio includes gaming devices starting at about Rs 60,000. ASUS is also said to be working on bringing in new devices that could be ...
Analysis: Brexit race to stockpile pushes some of UK's aerospace suppliers to the brink
BIRMINGHAM, England (Reuters) - A race by aerospace giants Rolls-Royce and Airbus to stockpile parts before Brexit is pushing some small suppliers to breaking point.
Corrected: UAE's Finablr hires banks for IPO, listing in London: sources
(In paragraph 2, corrects "issue price" to "opening price")
Saudi Arabia will respond to weak oil demand, energy minister Falih says
TURAIF, Saudi Arabia (Reuters) - Saudi Arabian Energy Minister Khalid al-Falih said on Thursday that he sees weak oil demand in January and said the kingdom would respond accordingly to cool the global market's anxiety.
Lift connecting Kart Road to Mall Road will remain close till Nov 27
The lift connecting Kart Road to Mall Road in Shimla will remain closed till November 27, an official said Thursday. The lift remained closed from November 15 to 16 and 19 to 22. About four to six thousand people daily use the lift to reach Mall Road, prohibited for vehicles, from the circular Kart Road and vice versa by paying Rs 10. The lift being run by the Himachal Pradesh Tourism Development Corporation (HPTDC) will remain closed till November 27 due to ongoing construction work of a new lift adjacent to the old one, an HPTDC official said. According to HPTDC Managing Director (MD) Kumad Singh, the construction work of the new lift adjacent to the existing old lift is on the verge of completion which will be inaugurated shortly. The construction work and movement and installation of heavy equipments are in progress, she said, adding that senior officers of the state government inspected the construction site Thursday and it was observed that the operation of the existing lift may
Oil falls on rising U.S. inventories, OPEC talk of cut limits loss
LONDON (Reuters) - Oil prices dipped on Thursday after U.S. inventories swelled to their highest level since December adding to concerns about a global crude glut but OPEC talk of an output cut limited losses.
AI mulls utilising engineers at foreign stations for non-engineering activities
Air India plans to utilise its engineers posted in foreign countries for carrying out random checks of facilities and other non-engineering activities, according to a communication. As the debt-laden carrier works on ways to revive its financial fortunes, its Chairman and Managing Director Pradeep Singh Kharola has mooted a proposal to utilise engineers "more efficiently" for the airline's business overseas. Currently, Air India has posted engineers in Hong Kong, Austria and Australia where they mainly carry out certification of aircraft. In rest of the foreign stations, the airline has outsourced aircraft certification duties, as per a senior official. Air India Engineering Services Ltd (AIESL), a wholly-owned subsidiary of the national carrier, has around 5,000 employees. Out of them, 500 are engineers who carry out aircraft certification work. In an internal communication, Kharola said that engineers proceeding to foreign stations for aircraft certification are often ...
Uber Eats ropes in Alia Bhatt as India brand ambassador
Uber Eats, the food delivery arm of ride-hailing major Uber, Thursday said it has appointed actor Alia Bhatt as its brand ambassador in India. India is the first country for Uber Eats globally where the company has appointed a brand ambassador, Uber Eats said in a statement. "Alia is an inspiration to Indian millennials and we are thrilled to have her on board. The youth today relates to her easy-going, carefree and energetic personality. "She is known for her unique style and agility as an actor - the same qualities are an integral part of the Uber Eats DNA; thus making her the perfect fit to represent our brand in India," Uber Eats India and South Asia Head Bhavik Rathod said. Uber Eats was launched in India in May 2017. The food delivery service is available across 37 cities compared to 31 cities where the American company operates its rides business. Uber Eats started in 2014 as a small delivery pilot in Los Angeles and was launched as a separate application in Toronto in December
Political uncertainty, global sell-off drag equities lower (Roundup)
India's barometer indices -- Sensex and Nifty -- fell for a third straight day on Thursday tailing a global sell-off and as investors avoided taking positions ahead of a long weekend.
PM unveils vision for gas-based economy: 10,000 CNG pumps, 2 cr household connections
Unveiling his vision for transforming India into a gas-based economy, Prime Minister Narendra Modi Thursday said the government will more than double city gas networks to 400 districts, quadruple piped cooking gas connections to households to 2 crore and also set up 10,000 CNG dispensing stations. Speaking at first of its kind foundation laying ceremony, marking simultaneous beginning of city gas work in 129 districts of 18 states that were awarded in the recently concluded bid round, Modi said the push towards a gas-based economy where the share of environment-friendly fuel in the energy basket will be increased from 6.2 per cent to 15 per cent by 2030, will create lakhs of jobs and help meet India's COP-21 (Climate Change Conference) commitment of cutting emission intensity by 33-35 per cent. While pricing and marketing freedom is protecting investments made in the new age natural gas sector, an independent transport operator and a trading exchange are being developed to provide ...
Indian sellers pitch for Black Friday sales on Amazon
About 37,000 Indian sellers will be offering 120 million products to woo global buyers during the Black Friday and Cyber Monday sales on e-commerce platform Amazon, the company said on Thursday.