Page 1762 - Business Finance
Nissan seeks more sway in Renault alliance as governments urge stability
PARIS/TOKYO (Reuters) - France stood by embattled Renault boss Carlos Ghosn on Wednesday, saying it wanted evidence from industry partner Nissan to support misconduct allegations against him, and added that both Paris and Tokyo wanted a stable carmaking alliance.
Capital norms deferment to raise banks' lending capacity by 3.5 lakh cr: Experts
The Reserve Bank's move to extend the deadline for meeting the capital conservation buffer (CCB) norms by one year would help increase lending capacity of banks by over Rs 3.5 lakh crore, experts said. The additional amount will help provide much-needed fund for micro, small and medium enterprises (MSMEs) and non-banking financial companies (NBFCs)that are facing cash crunch. According to a senior public sector banker, it will make difference for those banks which are below this regulatory requirement of capital. It will also help a few banks defer capital-raising plans from the market, as the requirement for the capital has come down due to extension to meet the CCB requirement, the banker said. Earlier this week, the RBI in the central board meeting decided to extend the implementation of the CCB norm of 0.625 per cent of risk-weighted assets (RWA) by a year to March 2020. However, the board decided to retain the capital adequacy ratio or CRAR at 9 per cent, against 8 per cent ...
Trump thanks Saudi Arabia over oil prices, urges further drop
WASHINGTON (Reuters) - U.S. President Donald Trump on Wednesday praised Saudi Arabia over recent oil prices and called for prices to go even lower, likening it to "a big tax cut" that could boost the U.S. and global economies.
Vision Express launches two stores on same day
In a bid to take its world-class eye care service to more Indians, Vision Express on Wednesday launched two stores simultaneously in Hyderabad and Amritsar.The Hyderabad retail outlet is the 26th store in the city and was inaugurated by Gurpreet Singh Bhatia, the CEO of Vision Express. Unveiled by Vishal Gaurav, Sales Director, Vision Express, the store in Amritsar marks the brand's entry in Punjab and is its 169th store in the country.The Hyderabad store, in Sarath City Capital Mall, is spread over 550 sq. ft. and will house all the exclusive brands of Vision Express, while the Amritsar store is located in one of the busiest high streets - GT Road. The 480 sq ft store will offer the latest eyewear collection by the brand."We feel ecstatic on the opening of our first store in Punjab. The region has a lot of potential. The Sarath City Mall store is the 4th door we have opened to our customers in the city, in a span of just 6 months. We look forward to deliver our services to more ...
Intuit launches initiative to support Indian startup ecosystem
Intuit Inc. announced the launch of its newest program to enable entrepreneurial success through financial literacy and developer partnership for startups across the country called Intuit Circles.Intuit will work towards strengthening the Indian startup ecosystem by leveraging the power of various stakeholders like investors, co-working spaces, incubators, accountants etc. for the prosperity of entrepreneurs.India has the second largest startup ecosystem in the world and is expected to witness a year on year growth of 10 to 12 per cent. Today, there are 40,000 startups in the country; USD 34 billion was invested in India since 2014 with 50 per cent of the funds invested in 2017 and Q1 of 2018 alone. Intuit has a long history of working with small businesses and startups globally. Over the years of working with startups, it has been found that one in five startups fail in the first three years because of poor financial management. Lack of financial literacy results in small businesses .
Gi Group targets EUR 5-6 billion revenue in next 5 years
Headquartered in Milan, Italy, Gi Group, one of the worlds' leading names in the areas of human capital solutions, providing services in various domains of talent acquisition, reached a milestone this year. The company completed its 20 years of successful existence and celebrated this occasion with its India team at the Holiday Inn, Aerocity, New Delhi.To commemorate this significant milestone, Stefano Colli-Lanzi, Global CEO and founder of Gi Group visited New Delhi along with company's key personnel, Daniele, Merlerati, International Business Senior Director, Maria Luisa Cammarata, International HR Senior Director and Marcos Segador Arrebola, Country Manager - India.Addressing a huge gathering of India team and dignitaries, Colli-Lanzi unveiled the company's growth and expansion plans, emphasised on the assets of the company and global trends in the HR vertical.Colli-Lanzi highlighted their plans of focusing on staffing, search and selection, RPO, and executive search. He ...
Indian mobile industry needs competitive tax regime: ICEA
The Indian mobile manufacturing industry needs a competitive direct tax regime to grow and pose a tough competition to other mobile manufacturing countries, said Pankaj Mohindroo, Chairman of the Indian Cellular and Electronics Association (ICEA).
Mulund's Finest Residences Within Your Reach, Only Till This November
/ -- - Pay only 10% to book your Oberoi Realty Dream Home With its ease of access to the eastern and western business districts of the city, Mulund has proved to be the fastest growing suburb in Mumbai. Oberoi Realty entered this evolving suburb with its twin developments Eternia and Enigma , landmarks for discerning home-buyers. The projects have seen an overwhelming response from customers, looking for a premium residence in this serene locale. Hence, the company came up with an easy financing option for these projects in May'18 for the aspiring home-buyers which will soon end on 31st November, 2018. Under the scheme, home-buyers will need to pay just 10% to book an Oberoi Realty home, 15% more to be paid within one year and the entire balance of 75% is linked to possession. Over and above that, if a home-buyer pays 25% of the booking amount, Oberoi Realty will bear 50% of the stamp duty and registration charges. The easy payment scheme is already approved by all leading banks. This
Big October deficit puts Hammond's UK budget goal in doubt
LONDON (Reuters) - Britain ran up a much larger budget deficit than expected in October, leaving finance minister Philip Hammond at risk of missing a borrowing target announced last month when he promised voters an easing of austerity.
Ryanair seeing record demand through website, no Brexit impact
LONDON (Reuters) - Irish budget airline Ryanair enjoyed the busiest day in history for its website this week and has not seen any impact on demand from British or European consumers due to Brexit, it's chief marketing officer said on Wednesday.
EU Commission clears Greek budget, says needs to accelerate reforms
ATHENS (Reuters) - The European Union's executive approved Greece's first post-bailout budget on Wednesday, but said the country had to speed up reforms if it hoped to qualify for any future disbursements under debt relief measures.
DHFL Q2 profit rises 52pc at Rs 439 crore
Mortgage firm Dewan Housing Finance Corporation (DHFL) Wednesday reported 52 per cent jump in net profit at Rs 439 crore for the quarter ended September 30, helped by healthy growth in loan disbursements. The company had earned a profit of Rs 288 crore in the same quarter of the previous fiscal, DHFL said in a statement. Shares of the company in the recent past have taken a huge beating on concerns of liquidity crisis. Following a series of default by group companies of IL&FS, liquidity tightness was apparent in the market putting pressure on interest rates. Loan disbursements were Rs 13,870 crore for the quarter ended September 30, showing an increase of 39 per cent over the corresponding quarter of the previous year, it said. Total Income was up by 32 per cent to Rs 3,468 crore during the quarter ended September as against Rs 2,632 crore in the corresponding quarter of the previous year. It further said that the loan book outstanding rose to Rs 1,10,093 crore during the quarter,
Salem Steel Plant gets new executive director
: Salem Steel Plant announced Wednesday the appointment of A V Kamlakar as its executive director with immediate effect. An alumnus of Pandit Ravishankar Shukla University, Kamlakar joined the Bhilai Steel Plant, Chhattisgarh, and has over three decades of experience, a statement from Salem Steel Plant said. Kamlakar was involved in rail and structural mill of Bhilai Steel Plant for over two decades and was instrumental in the development of new grades for rails, the statement said. Later, he became the general manager, rail and structural mill, in 2013, it said. Salem Steel Plant, a unit of Steel Authority of India Ltd, produces steel in the form of coils and sheets at the facility in Salem, Tamil Nadu.
Sri Lanka rupee hits record low after Moody's downgrade, IMF loan delay
COLOMBO (Reuters) - The Sri Lankan rupee fell to an all-time low of 179.00 per dollar on Wednesday, a day after Moody's downgraded the country's credit rating, as a political crisis worsens a rout in the currency.
Deere fourth-quarter profit misses estimates, hurt by slowing demand
CHICAGO (Reuters) - Deere & Co, the world's largest tractor manufacturer, reported quarterly earnings on Wednesday that missed Wall Street estimates, hurt by a slowdown in agriculture equipment sales amid a deepening trade war with China that has depressed U.S. farm commodity prices.
Foxconn aims to cut $2.9 billion from expenses in 2019 - Bloomberg
(Reuters) - Taiwan's Foxconn aims to cut 20 billion yuan ($2.88 billion) from expenses in 2019 as the company faces "a very difficult and competitive year", Bloomberg reported on Wednesday, citing an internal memo.
World stocks try to find feet after tech-driven rout
LONDON (Reuters) - World stocks steadied on Wednesday and Wall Street was set to open firmer after the previous session saw $1 trillion wiped off the value of leading tech shares, while oil prices staged a modest rebound after slumping to one-year lows.
WhatsApp appoints Abhijit Bose as its India head
Under pressure from the government to build a separate corporate entity in the country, instant messaging service WhatsApp on Wednesday announced the appointment of Abhijit Bose as its India head.
Treebo launches 3 sub-brands for hotel portfolio, unveils new logo
Budget hospitality firm Treebo Wednesday said it has launched three sub-brands for its hotel portfolio and also replaced the company's logo to a four-coloured pinwheel. The sub-brands called Trip, Trend and Tryst will operate at different price points and will have various amenities associated with each, it said. While Trip will be the entry level brand operating in the Rs 1,000-1,500 price range, Trend will be a middle level brand in the Rs 1,500-2,500 range, Treebo added. Tryst will be a premium-budget brand, which was earlier referred to as 'Select', operating in the Rs 2,500-4,000 price range, it said. "As our portfolio grew, it was necessary for us to segregate properties based on the amenities they offered, despite the fact that all properties offered the core quality guarantee that Treebo is known for...," Treebo co-founder Sidharth Gupta said. The company has also recently forayed into the homestay segment. On the new brand identity, Gupta said: "We saw the colourful pinwheel .
Asian Hotels (West) reports consolidated net profit of Rs 3.53 crore in the September 2018 quarter
Sales rise 14.21% to Rs 99.58 crore