Page 2057 - Business Finance
October saw biggest exit from emerging stocks since taper tantrum: IIF
LONDON (Reuters) - Investors pulled the most money out of emerging market stocks last month since the 'taper tantrum' panic of 2013 when the U.S. Federal Reserve first hinted at reducing its post crisis stimulus programme, financial flows data has showed.
UK, EU close to Brexit deal on financial services - UK official
LONDON (Reuters) - The United Kingdom and the European Union have made progress on a deal to give London's dominant financial centre basic access to EU markets after Brexit, two British officials said, but no agreement has yet been clinched.
NSIC imparts entrepreneurship skills to Bangladeshi trainees
National Small Industries Corporation Thursday said it has for the first time commenced a six-week Residential Entrepreneurship Development Training Programme for 29 Trainees from Bangladesh at its Technical Services Centre in Howrah. "The programme intends to drive the trainees towards Entrepreneurship and gives an opportunity to the participants to acquire skills on basic technical trades and gain exposure in all areas of business operation," NSIC said in a statement. The skills to be imparted include business development, identification of appropriate technology, hands on experience on working projects like soya milk extraction, bakery, socks knitting, fashion designing etc. The NSIC comes under the administrative control of the Union Micro, Small and Medium Enterprises (MSME) Ministry.
Royal Enfield sales grow 1% in October
Royal Enfield, the two-wheeler division of Eicher Motors, Thursday reported 1 per cent growth in total sales at 70,451 units in October. The company had sold 69,492 units in October last year, Royal Enfield said in a statement. Domestic sales stood at 70,044 units last month as compared with 68,014 units in October 2017, a growth of 3 per cent. International sales declined by 72 per cent to 407 units in October as against 1,478 units in the same month previous year, it said.
Tencent to shift focus to industry for future growth
HONG KONG (Reuters) - Chinese internet group Tencent Holdings plans to expand into providing services to industries such as healthcare and connected cars in a move to promote growth beyond its mainstay consumer business.
Bank of England holds rates steady, keeps post-Brexit options open
The Bank of England kept interest rates steady on Thursday and hinted at slightly faster future rate rises if Brexit goes smoothly, but warned all bets were off if next March brought a "disruptive" EU departure.
TRC Financial Services announces change in directorate
With effect from 01 November 2018
India Accelerator Successfully Concluded Second Demo Day in Association With HDFC Bank
/ -- The only GAN-partnered accelerator in India, India Accelerator, launches five start-ups on the second edition of Demo Day 2018 India Accelerator's Demo Day has been the perfect platform for graduated start-ups venturing into the industry. This time it featured start-ups from varied fields such as Lawyered from legal space, Galaxy Card in FinTech, Insurance Samadhaan from Insurance, Kuants from algorithmic trading, and CabBazaar, an aggregator. The event also saw Senpiper Technologies from the AI space. Decubes from the blockchain community, Compport from the HR domain, SkillsKonnect, India's first ML and AI powered digital network of skill aspirants, professionals, business and trade bodies. (Photo: https://mma.prnewswire.com/media/778435/IA_team.jpg ) This was their open chance to pitch and attract the biggest angel investors, technologists, mentors and media houses. The event saw traction from the start-up world, investors and media. Demo Day 2018 welcomed over 70+ investors.
'Financial sector biggest wealth creator, and destroyer too'
Contrasts in dud asset accumulation between entities have made the financial sector earn the distinction of both being the largest wealth creator, as well as destroyer, in the last five years. Investments in the more resilient private sector lenders and non-bank financiers have pushed it to be the largest wealth creator between 2013 and 2018, a report by the brokerage Motilal Oswal said. However, bets on the state-run lenders, which have seen erosion in profits and share prices due to the non-performing assets troubles, earn the sector the tag of being the largest wealth destroyer as well. "The financials sector has the unusual distinction of being the biggest wealth creator (thanks to private banks and NBFCs) and the biggest wealth destroyer (thanks to state-owned banks)," it said. It can be noted that the dud assets in the system have crossed Rs 10.5 lakh crore and the accelerated recognition in the last four years has also led to curbs on normal activities on 11 of ..
52% executives in emerging markets say bribery, graft still exist in biz: Report
The perceived level of bribery and corruption in emerging markets, including India, has continued to be double that of developed markets, a new global study on fraud, bribery and corruption trends claimed Thursday. Over half of the executives -- 52 per cent -- surveyed in emerging markets said that "bribery and corruption continues to be rampant in business", while 40 per cent of the respondents in India believed so, according to the EY Emerging markets - Integrity in the spotlight 2018 report. "In India, 40 per cent of the executives surveyed believed that bribery and corrupt practices occur widely in business. 12 per cent said their companies have experienced a significant fraud over the last two years, while 20 per cent justified cash payments to help a business survive," the report said. The study noted that there have been concerted efforts in India to enhance corporate governance and transparency through regulatory reform such as the Prevention of Corruption (Amendment) Act 2018
Parag Milk Foods consolidated net profit rises 22.21% in the September 2018 quarter
Sales rise 13.67% to Rs 573.48 crore
AirAsia X names new CEO to take over from co-founders
KUALA LUMPUR (Reuters) - Malaysia's long-haul budget carrier AirAsia X on Thursday appointed Nadda Buranasiri as its new group chief executive officer to take over from its co-founders.
Credit Suisse defends trading arm as profit jump fails to convince market
ZURICH (Reuters) - Credit Suisse defended its global markets trading arm on Thursday, even as losses at the division took the shine off a jump in quarterly profit as the bank wraps up a three-year revamp under Chief Executive Tidjane Thiam.
Hero MotoCorp sales rise 16 pc to 7,34,668 units in Oct
Two-wheeler major Hero MotoCorp Thursday reported 16.4 per cent rise in total sales at 7,34,668 units for October. The company had sold 6,31,105 units in the corresponding month last year, Hero MotoCorp said in a statement. This is the fourth occasion in this fiscal, and sixth overall, when the company has registered sales of more than seven lakh units of two-wheelers in a month, it added.
Maruti shares up 1.5% post Oct sales data
Shares of Maruti Suzuki India Thursday rose by 1.5 per cent after the car maker reported an increase in sales to 1,46,766 units in October. The scrip gained 1.52 per cent to end at Rs 6,709.60 on the BSE. Intra-day, it rose by 1.98 per cent to Rs 6,740. On the NSE, shares of the company went up by 1.29 per cent to close at Rs 6,702. The company had sold 1,46,446 units in October last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales were up by 1.5 per cent at 1,38,100 units last month as against 1,36,000 units in the year-ago month, it added.
Hyundai sales up 4.6 pc at 65,020 units in Oct
Hyundai Motor India Ltd (HMIL) Thursday reported 4.6 per cent increase in total sales at 65,020 units in October. The company had sold 62,139 units in October last year, HMIL said in a statement. Domestic sales increased 4.9 per cent to 52,001 units last month as compared to 49,588 units in October 2017. Exports grew 3.7 per cent to 13,019 units as against 12,551 units in the year-ago month.
Indivior quarterly profit rises, on track to meet FY revenue targets
(Reuters) - British drugmaker Indivior's third-quarter adjusted operating profit rose 13 percent, led by lower legal and research expenses and savings from a cost-cut program launched in July.
Advanced Enzyme Technologies consolidated net profit rises 15.29% in the September 2018 quarter
Sales rise 4.64% to Rs 103.15 crore
Grindwell Norton consolidated net profit rises 12.98% in the September 2018 quarter
Sales rise 21.08% to Rs 414.84 crore