Page 2103 - Business Finance
UIDAI to set up 114 Aadhaar Seva Kendras across India
To provide hassle-free Aadhaar enrolment services, the Unique Identification Authority of India (UIDAI) on Tuesday said that it was going to set up Aadhaar Seva Kendras across the country on the lines of the Passport Seva Kendras.
SAI to start comprehensive coach development programme
In an effort to attract and retain the best coaches in the country, the Sports Authority of India on Tuesday decided to start a comprehensive coach development programme at all levels. During its 51st Governing Body meeting here on Tuesday, the SAI decided to employ a professional agency to undertake a detailed study of the current coaching system and use the findings to improve the existing system. "Coaches are the backbone of the sports ecosystem of the country and it is imperative that for better performance of athletes and better medal hauls at international levels, the top coaches feel motivated to put in their best," the SAI said in a release. "Coaches performing better than their counterparts will also be incentivised. This decision is in continuance of the decision taken in the last Governing Body meeting, when it was decided that the cap on salary for coaches in National Academies be increased from Rs 1 lakh to Rs 2 lakh per month or above, depending on merit," it added. The .
Bhushan Steel Q2 net profit at Rs 60.7 crore
Bhushan Steel Tuesday posted a standalone net profit of Rs 60.7 crore for the quarter ended September 2018. The company, which was acquired by Tata Steel in May, had posted a net loss of Rs 467.43 crore in the year-ago period, Bhushan Steel said in a filing to the BSE. Its total income during July-September quarter increased to Rs 5,907.47 crore, over Rs 4,325.60 crore in the year-ago period, the filing said. Total expenses of Bhushan Steel increased to Rs 5,941.48 crore, over Rs 5,669.91 crore in the corresponding quarter of the previous fiscal. In May 15, the NCLT approved the resolution plan submitted by Tata Steel Ltd, which provided, inter alia, the acquisition of the company by TSL, through its wholly owned arm Bamnipal Steel Ltd (BNPL). Pursuant to the resolution plan, BNPL subscribed to 72.65 per cent of the equity share capital of BSL for an aggregate amount of Rs 158.89 crore and provided additional funds aggregating to Rs 35,073.69 crores to BSL by way of debt/convertible ..
French fashion group Vivarte sells off Chevignon brand
PARIS (Reuters) - French fashion company Vivarte, which has lately been disposing of assets to cut debt, said on Tuesday it had agreed to sell its Chevignon brand to the Royer company and businessmen Stephane Collaert and Thierry Le Guenic.
Canada's WestJet Airlines beats profit estimates
(Reuters) - Canada's WestJet Airlines Ltd reported a quarterly profit that beat analyst forecasts on the strength of higher ticket prices, but it predicted flattish revenues and higher costs for the last three months of the year.
U.S. stocks ride higher on trade optimism
(Reuters) - U.S. stocks rose on Tuesday, helped by a rebound in technology stocks after a volatile few sessions on Wall Street, amid optimism over the U.S.-China trade dispute and some upbeat earnings reports.
Bharat BillPay gets over one crore customers
: Bharat BillPay Tuesday said its bill payment platform has drawn over one crore customers here. Since the launch of Bharat BillPay in October last year, the National Payments Corporation of India (NPCI)has enabled 107 billers across the country without 2.4 million agent outlets, chief project officer of the Bharat Bill Payment System A R Ramesh told reporters here. The Bangalore Electricity Supply Company (Bescom), Bengaluru Water Supply and Sewerage Board (BWSSB), Gulbarga Electricity Supply Company, Chamundeshwari Electricity Supply Company and Hubli Electricity Supply Company are part of Bharat BillPay, he said. Bescom has partnered with Vijaya Bank for Bharat BillPay which has increased accessibility of consumersto the biller on various channels, he said. Also, BWSSB is one of thenew billers that is on-board for the first time on aninter-operable bill payment ecosystem through Canara Bank, Ramesh said. A Bescom official told reporters that the total number of ...
Bangladeshi port operator commits USD 8mn in IWAI NW-1
A Bangladeshi private port operator has committed USD 8 million foreign direct investment for the coastal inland waterways transport segment implemented by Inland Waterways Authority of India (IWAI) on National Waterways-I, officials said Tuesday. Summit Alliance Port East Gateway (India) Pvt Ltd (SAPEL), part of a Bangladesh-based group, has won global contract as a private operator for three terminals GR-1, GR-II and BISN in Kolkata and an upcoming multi-modal terminal at Kalughat in Patna. "In the first phase, we will invest USD 3 million and USD 5 million in the second phase to import cargo handling equipment," a SAPEL official said. The terminals were handed over to the operator during an event held Tuesday in presence of Shipping secretary Gopal Krishna, IWAI chairman Pravir Pandey, Kolkata Port Trust chairman Vineet Kumar and other senior officials. Krishna said following the move, the cargo movement between Bangladesh and India would get a boost. SAPEL will be ...
India, Italy agree to share knowledge, expedite investments
India and Italy have agreed to set up a bilateral industrial development and cooperation mechanism for sharing technological knowhow and commercialisation of scientific research, Prime Minister Narendra Modi said on Tuesday.
Tata Global Beverages Q2 net rises 19% to Rs 183.96 cr
Tata Global Beverages, which sells tea brands like Tata Tea and Tetley, Tuesday posted a 19.07 per cent year-on-year rise in consolidated group net profit at Rs 183.96 crore in the quarter ended September. It had reported a net profit of Rs 154.49 crore in the year-ago period. "The North India plantation has done well because of higher tea prices and we have also had the benefit out of a tax credit on account of Starbucks. This has helped to us to post an increase in net profit for the quarter," Tata Global Beverages chief financial officer L Krishnakumar told PTI. Its revenue from operations stood at Rs 1,760.87 crore during the quarter under review, against Rs 1,692.14 crore in the corresponding quarter last fiscal. Tata Global Beverages saw volume growth of close to double digit in India during the quarter, with most brands performing well in north and east. Krishnakumar said the firm is planning to launch one or two products in the tea catagory over the next six ...
EIH Q2 net profit rises to Rs 26.48 cr
Hospitality major EIH Tuesday reported Rs 26.48 crore in net profit for the quarter ended September 30, on account of higher sales and exceptional income. The company, which runs hotels and resorts under Oberoi and Trident brands, had posted a net profit of Rs 1.97 crore for the corresponding period of the previous fiscal, EIH said in a statement. The company's total revenue stood at Rs 356.78 crore for the quarter under consideration. It was Rs 293.32 crore in the year-ago period. The company had exceptional items of Rs 11.68 crore for the quarter ended September 30 this year. This represents profit on sale of investments held in an associate company, EIH said. Shares of EIH Ltd today closed at Rs 165.20 per scrip on BSE, up 0.46 per cent from its previous close.
India at centre stage of global energy affairs: IEA
India, as a leading global energy consumer, is moving to the centre stage of international energy affairs rapidly but faces challenges of higher oil prices, a top official of the IEA said here on Tuesday. High prices have hurt importers, including India where fiscal deficit has doubled, Fatih Birol, International Energy Agency executive director, said at the Singapore International Energy Week, as he welcomed the recent drop in international crude prices by about USD 10 per barrel. "India is moving into the centre stage of global energy affairs rapidly, especially with the current government's right energy policies," he said. "In India we have seen the fiscal deficit doubled, and measured in rupees, which is a serious issue for the Indian consumers, diesel prices reached level of USD 147 per barrel when oil prices were high at USD 85 per barrel," said Birol. But now the Indian government made the right move at the right time and provided relief to Indian consumers, he said of recent ..
Pfizer cuts revenue forecast as supply snags, dollar strength weigh
(Reuters) - Pfizer Inc cut the top end of its yearly sales forecast, blaming a stronger dollar and lower revenue from its sterile-injections business, sending shares of the largest U.S. drugmaker down 3 percent on Tuesday.
PCBL in advanced stage of finalising site for Rs 600 cr plant
RP-Sanjiv Goenka Group's Phillips Carbon Black Ltd (PCBL) is at an "advanced stage" of finalising a site in one of the southern states for its Rs 600 crore greenfield project, Group Chairman Sanjiv Goenka said on Tuesday.
5,000 bags of paddy procured from Bihar found at rice mills in Punjab
The Punjab Food and Civil Supplies department Tuesday said it has found 5,000 bags of paddy procured at cheaper rates from Bihar, in a raid conducted at a rice mill in Khanna. The chief vigilance officer of the department Rakesh Kumar Singla said two trucks, carrying 4,100 bags of paddy from Bihar, were found and the contents of the third truck were offloaded in the mill premises. Following an enquiry, the truck drivers gave the statement that they had brought paddy from Muzaffarpur in Bihar. Prima facie this appears to be an attempt to sell paddy purchased at cheaper rates from other statesin Punjab mandis, said Singla in an official release. He said the modus operandi for the same is to arrange bogus auction of such paddy which ispurchased from other states at about Rs 800 to 900 and sell in Punjab at MSP of Rs 1,770 a quintal and earn the direct profit from the transaction as well as commission on selling it in grain markets. After milling, the rice obtained is mixed into the rice .
Fiat Chrysler's net cash guidance cut overshadows special dividend pledge
MILAN (Reuters) - Fiat Chrysler (FCA) reported better-than-expected third-quarter earnings and promised to pay 2 billion euros ($2.3 billion) in special dividends, but a lowered net cash forecast and a charge related to U.S. diesel talks weighed on shares.
Libyan state oil firm demands pay increases for oil workers
TRIPOLI (Reuters) - The chairman of Libya's state oil firm National Oil Corp (NOC) has asked the central bank to increase salaries of oil workers by 67 percent in 2019, a statement said on Tuesday.
Infant formula growing pains hurt Reckitt Benckiser sales
LONDON (Reuters) - A manufacturing glitch at a Dutch factory producing baby milk hurt Reckitt Benckiser's third-quarter sales, the latest in a string of problems to hit the British consumer goods group, this time, in the formula business it bought last year for $17 billion.
Number of insolvent UK firms rises at fastest pace since 2009
LONDON (Reuters) - The number of companies in England and Wales falling into financial distress is rising at the fastest pace since 2009, according to data on Tuesday that suggests the trouble suffered by big firms is indicative of a wider, deep-seated trend.
Weak rupee, caution over Q2 results dent indices; banking stocks plunge (Roundup)
A weak rupee, along with outflow of foreign funds and caution over upcoming quarterly results, pulled the key Indian equity indices into the red on Tuesday.