Page 2110 - Business Finance
Tokyo Olympic minister promises transparency on spending
The minister in charge of the Tokyo Olympics says national government spending on the event is billions less than a recent national government audit showed. Olympic Minister Yoshitaka Sakurada says "we need to ensure transparency and gain understanding from the people." Tracking Olympic costs is difficult with many murky areas and disputes about what are and what are not Olympic expenditures. Earlier this month, a 178-page report by the national government's Board of Audit said the central government's share of spending was 801 billion yen ($7.1 billion). That report showed Japan's total spending national government, local governments, and private money would reach $25 billion to prepare the games with the figure likely go higher.
Sony forecasts big jump to record annual profit on winning gaming strategy
TOKYO (Reuters) - Japan's Sony Corp boosted its annual profit outlook by 30 percent to a record level after a strong second-quarter, propelled by popular game titles like "Marvel's Spider-Man" as well as growing demand for its online gaming services.
Nintendo Q2 profit hits 8-year high, banks on Pokemon-powered holiday season
OSAKA (Reuters) - Japan's Nintendo said sales of its Switch consoles and related games powered its second-quarter profit to an eight-year high, and it is banking on upcoming games in its popular franchises such as Pokemon to drive key holiday-season sales.
Tata Teleservices (Maha) Q2 loss narrows to Rs 382 cr
Tata Telservices (Maharashtra) Tuesday reported narrowing of loss to about Rs 382.3 crore for the quarter ended September 30, 2018 against Rs 8,198.3 crore in the year-ago period. During July-September 2017, the company had recorded Rs 7,708.6 crore towards impairment loss on its Consumer Mobile Business assets based on the assessment of its recoverable value and disclosed the same as exceptional item, Tata Teleservices said in a regulatory filing. For the quarter under review, the exceptional items stood at Rs 22.37 crore, which included restructuring cost of Rs 17.7 crore. The company's total income fell 33 per cent to Rs 336.29 crore for the second quarter of 2018-19, compared to Rs 502.11 crore in the corresponding period previous year. The company said it is in discussion for "monetisation of certain assets", the proceeds of which will be used to meet its financial obligations as and when they fall due. "Further, the company has obtained a support letter from its promoter ...
Italian PM, Modi hold talks
Prime Minister Narendra Modi Tuesday held talks with his Italian counterpart Giuseppe Conte and discussed a range of issues, including ways to boost cooperation in key areas such as trade and investment. Conte arrived here this morning and was warmly welcomed by Prime Minister Modi. "A warm welcome to the Italian Prime Minister, Mr. Giuseppe Conte in India. I look forward to meeting him and to participate together at the Tech Summit later today," Modi tweeted in English and Italian. The highlight of the day-long visit is the Italian prime minister's participation at the 24th edition of the India-Italy Technology Summit, which is being organised by the Department of Science and Technology (DST) in partnership with the Confederation of Indian Industry (CII). The summit will focus on a number of areas, including healthcare, aerospace, education, clean technology, renewable energy and information and communication technology. The bilateral trade between the countries increased to USD 10.5
RBI looked the other way when banks lent freely, ran up NPAs: Jaitley
Finance Minister Arun Jaitley on Tuesday held the central bank responsible for the mountain of bad loans, saying the Reserve Bank looked the other way when banks lent indiscriminately during 2008-14 to keep the economy humming.
Investors hedge their faith in China's faltering yuan
HONG KONG/SHANGHAI (Reuters) - As China's yuan approaches the 7 to the dollar barrier, investors are betting authorities will eventually let the currency fall beyond the historic level. Yet they are just as confident that China won't allow the kind of capitulation seen in past market meltdowns.
Union Bank of India vaults after turnaround Q2 result
Union Bank of India gained 9.32% to Rs 76.25 at 14:46 IST on BSE after the bank reported net profit of Rs 139.03 crore in Q2 September 2018 as compared with net loss of Rs 1530.72 crore in Q2 September 2017.
Gateway Distriparks consolidated net profit declines 1.91% in the September 2018 quarter
Sales rise 7.17% to Rs 104.54 crore
Tata Teleservices (Maharashtra) reports standalone net loss of Rs 382.30 crore in the September 2018 quarter
Sales decline 37.55% to Rs 321.84 crore
Bank of Maharashtra reports standalone net profit of Rs 27.00 crore in the September 2018 quarter
Total Operating Income decline 4.99% to Rs 2788.18 crore
Indo Credit Capital reports standalone net loss of Rs 0.04 crore in the September 2018 quarter
Reported sales nil
Times Guaranty standalone net profit declines 44.83% in the September 2018 quarter
Sales decline 27.66% to Rs 0.34 crore
Krebs Biochemicals & Industries reports standalone net loss of Rs 3.07 crore in the September 2018 quarter
Sales rise 387.36% to Rs 12.72 crore
Gujarat Borosil standalone net profit rises 426.73% in the September 2018 quarter
Sales rise 13.28% to Rs 56.48 crore
Victoria Mills reports standalone net loss of Rs 0.14 crore in the September 2018 quarter
Reported sales nil
Gateway Distriparks standalone net profit declines 28.52% in the September 2018 quarter
Sales rise 10.41% to Rs 88.54 crore
Dena Bank reports standalone net loss of Rs 416.70 crore in the September 2018 quarter
Total Operating Income decline 1.91% to Rs 2179.73 crore
Axel Polymers standalone net profit rises 16.67% in the September 2018 quarter
Sales rise 5.09% to Rs 6.19 crore
Hind Rectifiers reports standalone net profit of Rs 2.35 crore in the September 2018 quarter
Sales rise 147.40% to Rs 59.40 crore