Page 2000 - Business Finance

In race for ECB banks' supervision job, Enria closes gap with Donnery: sources

FRANKFURT (Reuters) - The race to take over the European Central Bank's supervision arm has become a dead heat as southern European countries appear to be lining up behind an Italian candidate, four sources familiar with the process said.

Condor Ferries Chooses RateGain for Next-Gen Revenue Management

/ -- Integrates with RateGain's FerryGain, to Receive Accurate Forecasting & Pricing Recommendations RateGain, the market leader in BI, distribution & revenue management, for travel & hospitality industry, today announced its strategic partnership with Condor Ferries, one of the leading operators of passenger & freight ferry services, to streamline and enhance their revenue management capabilities. The integration with FerryGain would allow the company to accurately forecast demand of their sailings, and receive effective price recommendations. This partnership is part of Condor's digital strategy to improve customer experience and forecast demand. (Photo: https://mma.prnewswire.com/media/779653/Condor_Ferries_Chooses_RateGain.jpg ) Commenting on the partnership, Apurva Chamaria, Chief Revenue Officer, RateGain, said, "Condor Ferries is a forward-looking player and is investing in providing a seamless experience to its customers. We are proud to collaborate with them ..

Sical Logistics consolidated net profit declines 41.01% in the September 2018 quarter

Sales rise 45.51% to Rs 360.83 crore

Innovassynth Investments reports standalone net loss of Rs 0.24 crore in the September 2018 quarter

Reported sales nil

WABCO India standalone net profit rises 23.11% in the September 2018 quarter

Sales rise 14.77% to Rs 663.64 crore

Servoteach Industries reports standalone net loss of Rs 0.02 crore in the September 2018 quarter

Reported sales nil

Vas Infrastructure reports standalone net loss of Rs 7.88 crore in the September 2018 quarter

Sales decline 88.95% to Rs 0.19 crore

Natco Pharma standalone net profit rises 120.94% in the September 2018 quarter

Sales rise 27.91% to Rs 522.40 crore

Kitex Garments standalone net profit rises 8.46% in the September 2018 quarter

Sales rise 12.95% to Rs 167.85 crore

Mahalaxmi Rubtech standalone net profit rises 241.03% in the September 2018 quarter

Sales decline 27.47% to Rs 41.75 crore

Arihant Tournesol reports standalone net profit of Rs 0.01 crore in the September 2018 quarter

Reported sales nil

Shivalik Bimetal Controls standalone net profit rises 60.69% in the September 2018 quarter

Sales rise 32.90% to Rs 50.53 crore

Goldman Sachs, mega-M&A purveyor, looks for smaller deals

NEW YORK (Reuters) - The top echelons of Goldman Sachs Group Inc's investment bank hosted a dinner over the summer with the representatives of almost 20 private equity firms at Manhattan's Legacy Records restaurant.

Rich Asians crazy about securing wealth spark family office boom in Hong Kong, Singapore

HONG KONG (Reuters) - Rich Chinese and other Asians are increasingly seeking more control of their wealth, driving a rapid rise in the number of so-called family offices, or private investment vehicles, being set up in Hong Kong and Singapore.

Ferrari third-quarter core earnings rise, but lack of guidance upgrade disappoints

MILAN (Reuters) - Ferrari third-quarter core earnings rose almost 5 percent, helped by positive performance from across its regions and strong sales of 8-cylinder models but shares fell after the release as some expected an improved full-year guidance.

Approved by UFI, AWE 2019 continues to deliver craftsmanship and quality

/ -- Hosted by China Household Electrical Appliances Association, AWE was approved by the Global Association of Exhibition Industry as a UFI Approved International Event in September 2018. As the only approved show of the Asian-Pacific region in the category of home appliances and consumer electronics, AWE was recognized by this global authority in scale, history, global influence and commercial value. Appliances & electronics World Expo (AWE) took only 25 years to catch up with established global exhibitions that have a history of more than half a century. This speed is amazingly fast. Always trying to improve, AWE sped up, changing from a biennial event to an annual one, while expanding its portfolio from home appliances to include more technology fields to witness technological changes and foresee industry directions. Going global on a fast pace, AWE will join hands with AMK, German Modern Kitchen Association, to put up a show under the theme of "Future Living" along with more .

Cipla shares tank over 7% post Q2 results

Shares of Cipla Monday plunged over 7 per cent after the pharma major reported a 15.64 per cent fall in consolidated net profit for the second quarter ended September 30, 2018. The stock dropped 7.33 per cent to settle at Rs 563.90 on the BSE. Intra-day, it tanked 8.28 per cent to Rs 558.10. On the NSE, shares of the company tumbled 7.34 per cent to close at Rs 562.50. In terms of the equity volume, 7.70 lakh shares of the company were traded on the BSE and over one crore shares changed hands on the NSE during the day. Cipla Monday reported a 15.64 per cent fall in consolidated net profit to Rs 366.91 crore for the second quarter ended September 30, 2018. The company had posted a net profit of Rs 434.95 crore for the corresponding period of the previous fiscal, Cipla said in a BSE filing. Consolidated total revenue from operations of the company stood at Rs 4,011.90 crore for the quarter under consideration. It was Rs 4,082.41 crore for the same period a year ago.

Gold sales average on 'dhanteras' in Mumbai

Keeping in tune with expectations, gold sales have notched a sharp fall of 40 per cent this year compared to 2017 Diwali owing to high prices and overall negative market sentiments, a leading retailers body said on Monday.

Intensive Fiscal Services settles case with Sebi; pays Rs 44 lakh

Intensive Fiscal Services Monday settled a probe by markets regulator Sebi into alleged violation of merchant bankers norm on payment of over Rs 44 lakh towards settlement charges. Sebi agreed to settle proposed adjudication proceedings in the case after it was approached by Intensive Fiscal with a plea under the settlement regulations. Under the settlement, an entity is allowed to settle charges by paying a penalty without admission or denial of guilt. "In view of acceptance of the settlement terms as proposed by the applicant (Intensive Fiscal) and upon receipt of settlement amount by Sebi, the pending adjudication proceedings initiated against the applicant ... are hereby disposed of in terms of...the settlement regulations," Sebi said. The regulator had initiated adjudicating proceedings in May 2017 against Intensive Fiscal in the matter of Inventure Growth & Securities. It was alleged that Intensive Fiscal had violated the code of conduct stipulated for merchant ...

CreditAccess Grameen Ltd. posts net profit growth of 94 pct

CreditAccess Grameen Limited announced its unaudited financial performance for the half year ended September 30, 2018.Performance Highlights (H1FY19)• Net Profit grew by 94% to Rs.146 crore for the half year ended September 30, 2018 as against Rs.75 crore for the same period of last fiscal• Income from operations (Net Interest Income) rose by 85% to Rs.354 crore for the half year ended September 30, 2018 as against Rs.191 crore for the same period of last fiscal• Consolidated AUM as of September 30, 2018 stood at Rs. 5,794 Crore; growth of 47% over H1FY'18Other Performance Highlights• Net Profit grew by 20% to Rs.73 crore for the quarter ended September 30, 2018 as against Rs.61 crore for the same period last fiscal• Income from operations (Net Interest Income increased) rose by 64% to Rs.181 crore for the quarter ended September 30, 2018 as against Rs.111 crore for the same period last fiscal• Borrower base as of September 30, 2018 grew by 29% YoY to 20.78 lakhs as compared to 16.06 .