Page 1754 - Business Finance
Nokia reshuffles management with focus on 5G market
(Reuters) - The head of Nokia's mobile networks arm, its largest business unit, is leaving the Finnish company as part of changes designed to position the company for the 5G telecoms era, Nokia said on Thursday.
Indoco Remedies gets two minor observations from USFDA for Goa plants
Drug firm Indoco Remedies Thursday said it has received two minor observations from the US health regulator for its Goa-based two plants. The US Food and Drug Administration (USFDA) inspected the manufacturing facilities between November 14-21. "The inspection concluded with the company receiving two minor observations, none of which are repeat in nature," Indoco Remedies said in a regulatory filing. Indoco said it is in the process of responding to the observations within the stipulated time of 15 days, it added. The facility had earlier received a warning letter from the USFDA in March 2017. "This positive development will now pave the way for approval of our pending ANDAs with consequent boost to revenues from the US market," Indoco Remedies Managing Director Aditi Kare Panandikar said. Headquartered in Mumbai, Indoco Remedies has nine manufacturing facilities and has presence across 55 countries. Shares of the company Thursday ended 20 per cent up at Rs 206.40 on the BSE.
Instamojo launches mojoCapital, mojoXpress in Jaipur
Instamojo, the digital payment platform and service provider for MSMEs, Thursday said it has launched its new lending and logistics services mojoCapital and mojoXpress in Jaipur. "The launch of these two services will further empower 6.3 crore Micro, Small & Medium Enterprises (MSMEs) in the country, including 26.87 units across Rajasthan," Chief Operating Officer Akash Gehani said here. With e-commerce booming, it becomes essential for small businesses to digitally evolve in order to stay relevant in competitive environment and Instamojo's digital payment solutions and the newly introduced lending and logistics solutions will help small businesses overcome these obstacles, he said. MSMEs on its platform can avail short term credit to fulfill everyday business-related financial requirements through sachet loans, a byte-sized micro credit facility, under mojoCapital, the COO said. The company has partnered with banks and finance institutions to launch mojoCapital. The second ...
Pennar Group Bags Orders Worth INR 317 Crore
/ -- Pennar Group, a leading value-added engineering products and solutions company, has bagged orders worth INR 317 crores across its various business verticals and the subsidiary, PEBS Pennar. The Group's flagship company Pennar Industries Limited (PIL) received multiple orders aggregating INR 190 crore across its business verticals such as railways, tubes and industrial components. These orders were received from PIL's long-standing customers, including Solis Engineering, JM Infratech, IFB, Ashok Leyland, Tecumseh, Wabco, Mahindra, Salem Steel, etc. Pennar Engineered Building Systems (PEBS Pennar), a leader in pre-engineered buildings and a PIL subsidiary, received orders aggregating INR 127 crore. The company is witnessing significant demand for pre-engineered warehouses and factory buildings. The new orders received by PEBS Pennar were from customers such as Pokarna Limited, Gemini Oils, Suguna Foods, Rain CII, Twenty One Sugars, Aequs SEZ, etc. Commenting on the recent wins, ...
CCEA approves compulsory jute-packaging of 100% food grains
To give a boost to development of the jute sector, the government on Thursday made it mandatory to pack 100 per cent of food grains in diversified jute bags, up from 90 per cent earlier.
Kovind markets Indian opportunities to Australian investors, companies
President Ram Nath Kovind, while stressing the need for strengthening the economic ties between India and Australia, on Thursday said that Indian market offered the "companies and investors island continenta huge consumer base and the prospect of considerable returns."Addressing the Australian Financial Review India Business Summit here on Thursday, the Indian President said that Australian super-funds or pension funds have a reputation for careful, calibrated investment decisions. "They will find the Indian infrastructure space worth their while - with long-term investments, steady to high returns, confidence in growing consumption, and security in contractual adherence," he said."India is in the midst of an infrastructure push of unusual urgency. A determined accretion in highway construction; a nation-wide urban and rural broadband roll-out; creating new railway and freight corridors; an ambitious programme of modernizing ports; high-speed train networks in major urban centres; ...
Cloud4C Rated Among Top-3 Public Cloud Players in India
/ -- Cloud4C - A leading Global Cloud Managed Services company was rated among the top-3 public cloud players in India. The CIO perception study was conducted among 200 Chief Information Officers (CIOs) and IT leaders across various industry verticals in India. (Logo: https://mma.prnewswire.com/media/788498/Cloud4C_Logo.jpg ) Cloud4C provides highly differentiated community cloud offerings besides public, private and hybrid clouds was ranked no.#1 on SLA parameters, no.#2 in the overall capability index ratings and popularity ratings, India's preferred public cloud and no.#3 in scalability index by the CIOs. Competing with industry leaders such as AWS, Microsoft Azure, Google Cloud, IBM Cloud, and Alibaba Cloud, Cloud4C made its way to the top three ratings across several parameters. The CIO perception study has placed the company at the top and reinforces that Cloud4C - 'A Made in India cloud' is the most preferred public cloud providers in the country. The Enterprise IT World ...
Volvo Cars to locally assemble XC 90 plug-in hybrid in India from next yr
Swedish automaker Volvo Cars aims to locally assemble plug-in hybrid variant of its premium SUV XC 90 in India from next year, a top company official said Thursday. The company is also gearing up to drive in four additional plug-in hybrid models in the country over the next three years as part of its plans to build a portfolio of environment-friendly vehicles. "We are going to be the first car company to assemble plug-in hybrid cars locally in India. The first model would be introduced in the last quarter of next year. The localisation of plug-in hybrids marks the future of electrification for us," Volvo Car India Managing Director Charles Frump told reporters here. The company would be rolling out the locally-assembled XC 90 T8 plug-in hybrid from its Bengaluru facility. It currently imports the vehicle as completely built-up units (CBUs). In a plug-in hybrid electric vehicle (PHEV), battery can be recharged by plugging it into an external source of electric power. Volvo, which sells
Volumes jump at Deepak Fertilizers & Petrochemicals Corp Ltd counter
Deepak Fertilizers & Petrochemicals Corp Ltd witnessed volume of 39.13 lakh shares by 14:14 IST on NSE, a 16.59 times surge over two-week average daily volume of 2.36 lakh shares
Pennar Group bags orders worth Rs 317 cr
Engineering and steel solutions firm Pennar Group Thursday said it has bagged orders worth Rs 317 crore across its business verticals from firms including Ashok Leyland and Mahindra. "The group's flagship company Pennar Industries Ltd (PIL) received multiple orders aggregating Rs 190 crore across its business verticals such as railways, tubes and industrial components," Pennar Industries said in a regulatory filing. These orders were received from PIL's customers including Solis Engineering, JM Infratech, IFB, Ashok Leyland, Tecumseh, Wabco, Mahindra, Salem Steel, etc, the filing added. Besides, Pennar Engineered Building Systems (PEBS Pennar), a PIL subsidiary, also received orders aggregating Rs 127 crore from customers such as Pokarna Ltd, Gemini Oils, Suguna Foods, Twenty One Sugars, Aequs SEZ among others, the filing said. "Our railways, steel and tubes divisions have received major orders which we will execute over the next couple of months. With economic activities picking up, .
Japan inflation lacks momentum, keeps BOJ's target elusive
TOKYO (Reuters) - Japan's annual core consumer inflation was unchanged in October from the previous month as soft household spending kept firms from hiking prices, a sign the economy lacks the momentum needed to achieve the central bank's 2 percent target.
China's central bank says will support funding for Shanghai's private sector
SHANGHAI (Reuters) - China's central bank said on Thursday it will deploy at least 10 billion yuan ($1.44 billion) worth of relending quota to private and small companies in Shanghai, in sectors such as high-tech and high-end manufacturing as part of its effort to support the private sector.
China will open but not all at once, China's German ambassador says
BERLIN (Reuters) - China's ambassador to Germany told the newspaper Die Welt that his country's ties to Germany were closer than to any other country, but that it still could not fully open its market to foreign partners.
Nissan board meets to oust fallen tycoon Ghosn as chairman
Nissan board members appeared poised to oust disgraced tycoon Carlos Ghosn as chairman Thursday, after his spectacular arrest for financial misconduct stunned the car industry and the business world. Ghosn stands accused of under-reporting his income by millions of dollars and a host of other financial irregularities, in a stunning fall from grace for the once-revered titan of the auto sector. The 64-year-old Brazil-born tycoon is credited with turning around the Japanese brand and forged an alliance with Renault and Mitsubishi Motors that last year sold 10.6 million cars between them more than any other firm in the world. Ghosn's fate appears all but sealed after his hand-picked replacement as CEO, Hiroto Saikawa, launched an astonishing broadside at his mentor following his arrest Monday at a Tokyo airport as he landed in his private jet. Saikawa said "too much authority" had been placed in the chairman's hands and lamented the "dark side of the Ghosn era", as he called the board ..
Kuroda rebuffs view BOJ undergoing Fed-style "tapering"
TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said a slowdown in the central bank's bond buying is different in nature from the U.S. Federal Reserve's tapering of asset purchases, signalling that Japan is nowhere near an exit from ultra-loose monetary policy.
Gold holds firm on subdued dollar
BENGALURU (Reuters) - Gold prices were steady in holiday-thin trade on Thursday after hitting a two-week peak in the previous session, with improved risk appetite weighing on the U.S. dollar.
Demonetisation, GST responsible for stress on MSME, real-estate sector: Chidambaram
Senior Congress party leader and former finance minister P Chidambaram on Thursday said that demonetisation and 'flawed' Goods and Service Tax (GST) implemented by the central government, are responsible for the stress on Ministry of Micro, Small and Medium Enterprises (MSME) and real-estate sector.Referring to a report published in a leading daily, which stated that the Centre might highlight the stress in the real estate sector at the Reserve Bank of India's (RBI) Central Board meeting, Chidambaram wrote on Twitter, "A news report says 'After MSME, Government will flag stress in the real-estate sector to RBI'. What caused the stress in the two sectors? Demonetisation and a flawed GST."He further said that if by any means the Reserve Bank of India (RBI) would not be able to revive the two sectors then the government would blame the central banking institution for everything."Who caused the stress in the two sectors? Everyone knows it was the government and its quack advisers. Now, ...
Nissan board meets to end Ghosn's two-decade reign
TOKYO (Reuters) - Nissan Motor Co is holding a board meeting to oust Chairman Carlos Ghosn after the shock arrest of its once-revered leader, ushering in a period of uncertainty for its 19-year alliance with Renault.
Sensex, Nifty at day's low; cede initial gains
The key equity indices traded at their respective day's low during the afternoon session of trade on Thursday after ceding initial gains owing to profit booking. S&P BSE Sensex lost over 550 points in the last two days.
Sensex, Nifty sink in negative zone
Volatility struck bourses in afternoon trade as the key benchmark indices erased intraday gains to sink in negative zone. At 13:25 IST, the barometer index, the S&P BSE Sensex, was down 45.66 points or 0.13% at 35,154.14. The Nifty 50 index was down 25.35 points or 0.24% at 10,574.70.