Page 2235 - Business Finance
Russia may use National Wealth Fund to finance Egypt nuclear plant: Siluanov
MOSCOW (Reuters) - Russia's finance ministry may use the National Wealth Fund (NWF) to lend money for the construction of a nuclear power plant in Egypt starting from 2020 or 2021, First Deputy Prime Minister Anton Siluanov told reporters on Thursday.
Afreximbank loans Zimbabwe $500 million as dollar crisis worsens
HARARE (Reuters) - The African Export Import Bank (Afreximbank) says it is finalising a $500 million loan facility for Zimbabwe, to help secure the foreign-currency starved southern African country's imports.
With few buyers, Iranian oil armada heads to China ahead of U.S. sanctions
SINGAPORE/BEIJING (Reuters) - An unprecedented volume of Iranian crude oil is set to arrive at China's northeast Dalian port this month and in early November before U.S. sanctions on Iran take effect, according to an Iranian shipping source and data on Refinitiv Eikon.
Petrol, diesel prices down for the first time since relief measures
Lower crude oil cost pulled the prices of key domestic transportation fuels -- petrol and diesel -- lower in the national capital on Thursday by 21 and 11 paise respectively.
Millionaires Made Online: Uplive India Revolutionizing Real-time Entertainment Economy - Launches in Seven Local Languages
/ -- Uplive to tap 1 Billion users and empower original creators with potential earning Hong Kong-based Asia Innovations Group's live-streaming platform Uplive has announced introducing seven local Indian languages in the app making it more accessible for streamers in tier two and three cities. Uplive will be now available in Tamil, Telugu, Bengali, Gujarati, Marathi, Urdu and Hindi besides English for its Indian users. With this announcement, live-streamers in India can now select their preferred languages, while existing users can change their language preferences in settings. Uplive which was launched in May 2016 has also recently announced India as top market with a tremendous user growth seen in the country after successfully running in Greater China, Middle East and North Africa (MENA), South-East Asia and the Americas. The mobile interactive entertainment app with over 60 million users globally has seen 100,000+ new Indian users registering per day, and it is growing faster ...
Govt approves AIGP Developers' proposal to set up IT SEZ in Maharashtra
The government has approved AIGP Developers (Pune) to set up IT/ITeS special economic zone in Maharashtra over an area of 6.69 hectares. The decision in this regard was taken during the meeting of the board on September 12 here, an official said. "The board, chaired by the commerce secretary, after deliberations approved the proposal of AIGP Developers (Pune)," the official added. The board also gave more time to seven units, including Q3 Infotech, JBF Petrochemicals and temple Packaging to complete their projects. The commerce ministry is taking steps to revive investors interest in these zones. A group set up by the commerce ministry to study SEZ policy will make suggestions for shifting from fiscal support to employment-based incentives and introducing grandfathering clause for existing provisions. SEZs have emerged as major export hubs in the country as the government provides several incentives, including tax benefits and single window clearance system. The developers and units ..
Non-life insurers' register 9% rise in premium at Rs 19,098 cr in Sep
Non-life insurance companies reported a rise of 9 per cent premium income to Rs 19,098.51 crore in September, data from the Insurance Regulatory and Development Authority of India (Irdai) showed. These insurance companies had earned premium of Rs 17,514.64 crore in September 2017. Among these, 25 general insurance companies registered business premium of Rs 14,468.64 crore during the month under review, up by 8.2 per cent from Rs 13,373.16 crore in same month a year ago, as per the data. The New India Aussurance Co earned a premium of Rs 2,450.28 crore in September 2018 which was almost flat as compared to a year ago; The Oriental Insurance Company Rs 1,552.05 crore, up 10 per cent; United Indian Insurance Co Rs 1,305.12 crore, up 10.3 per cent; HDFC Ergo General Insurance Co Rs 1,379.12 crore, up 37 per cent; ICICI Lombard General Insurance Co Rs 1,318.48 crore up 8.2 per cent. Bajaj Allianz General Insurance Co witnessed fall in its premium income by 40 per cent to Rs 839.08 crore; .
Singapore's struggling Hyflux to sell majority stake to Indonesian groups
SINGAPORE (Reuters) - Singapore water treatment firm Hyflux Ltd, which is in the midst of a court-supervised reorganisation, said Indonesia's Salim Group and Medco Group had agreed to acquire 60 percent of the company for S$400 million ($290 million), a move that gives it a lifeline for its struggling business.
Oil falls below $80 on rising U.S. stockpiles
LONDON (Reuters) - Oil fell $1 a barrel to below $80 on Thursday as the fourth weekly increase in U.S. crude inventories suggested ample supply, while Saudi-U.S. tension and falling Iranian exports lent support.
Price increases underpin sales growth at Nestle, Unilever
LONDON (Reuters) - Nestle and Unilever, two of the world's biggest consumer goods makers, both reported a pick-up in quarterly sales on Thursday after getting higher prices for their products.
U.S. mortgage industry faces job losses as refinancing dries up
NEW YORK (Reuters) - With mortgage applications falling to their lowest since late-2014, the U.S. home lending industry is facing a major overhaul in how it works and manages staffing levels.
Philip Morris quartetly results top estimates
LONDON (Reuters) - Philip Morris International, maker of Marlboro cigarettes among others, reported higher than expected quarterly sales and profit on Thursday, helped by its IQOS tobacco-heating device.
Amitabh Choudhary not Johri's substitute at ICC: BCCI
The Board of Control for Cricket in India (BCCI) has issued a statement clarifying that acting secretary Amitabh Choudhary is not a "substitute" for Chief Executive Officer (CEO) Rahul Johri, who has been accused of sexual misconduct by an anonymous former colleague.The statement read that Choudhary has been representing the BCCI at the International Cricket Council (ICC) meeting "owing to certain circumstances".Choudhary is a Director on the ICC Board of Directors for nearly two years and has been representing the BCCI at the meetings in his capacity as the ICC Board Director, the statement continued."Ever since it was decided that Rahul Johri would not attend the ICC-CEC meeting, an impression has been created that Amitabh Choudhary, Acting secretary BCCI, is being sent as a 'substitute' for Johri. It must be noted Choudhary is a Director on the ICC Board of Directors, the highest ICC forum, for nearly two years now and has been representing India/BCCI at the meetings in his ...
Global Markets: Dollar steadies as Fed minutes weigh on stocks, yuan
LONDON (Reuters) - The dollar held near a one-week high on Thursday and stocks were mixed after minutes showing the Federal Reserve may favour more rate hikes next year.
North Central Railways launches apps for its employees, passengers
The North Central Railways (NCR) launched on Thursday two mobile apps, 'NCR RASTA' and 'Yatri RASTA', for its employees and passengers, respectively, for locating assets and stations. "NCR RASTA (Railway assets Summerised Tracking Application) and Yatri RASTA(Railway Approach to Station Tracking Application) were launched Thursday by NCR General Manager Rajiv Chaudhry," North Central Railway PRO Amit Malviya told PTI. The 'NCR RASTA' app is for the use of railway officers and staff and has exact mapping of all railway assets. "It will enable railway staff to reach desired asset using Google Navigation in case of any emergency," he said. Likewise, the 'Yatri RASTA' app will allow general public to locate the railway stations easily. It is already available for smartphones running on Android and can be downloaded free of cost from Google Play Store, Malviya said. General Manager Chaudhry said the NCR was committed to leveraging the latest technology for making the journey of railway ...
Elior India wins the 'Most Innovative Product/Service' Award at the Indo-French Business Awards 2018
/ -- Elior India, a leading provider of catering and food services, announced that the company won the 'Most Innovative Product/Service of The Year' at the Indo-French Business (IFB) Awards Hosted jointly by the Indo-French Chamber of Commerce and Industry (IFCCI) and Business France , the IFB Awards honours outstanding accomplishments of French companies operating in India. The winners were chosen by a 10-member jury and the awards were presented by H.E. Mr. Alexandre Ziegler, Ambassador of France to India. Elior India was recognised for its innovative solutions in food services and its commitment to developing sustainable solutions focussed around reducing waste, along with helping customers enhance their daily food experience. Sanjay Kumar, MD & CEO, Elior India, said "We are honoured to be recognised as one of the most innovative French companies in India. It is our endeavour to continuously improve based on feedback from our customers and by challenging our existing ...
TSMC sees modest Q4 revenue growth, shrugs off trade war impact
TAIPEI (Reuters) - Taiwan Semiconductor Manufacturing Co (TSMC) offered a modest fourth-quarter revenue growth outlook, predicting weaker sales of high-performance computers for cryptocurrency mining will partially offset solid demand for chips from smartphones.
French Finance Minister pulls out of Saudi business forum
French Finance Minister Bruno Le Maire on Thursday said he has cancelled his plan to attend an upcoming business conference in Riyadh, following the disappearance of a dissident Saudi journalist.
I not Johri's substitute at ICC, clarifies BCCI acting secretary Choudhary
BCCI acting secretary Amitabh Choudhary on Thursday clarified that he was always supposed to attend the ICC meeting underway in Singapore and has not gone there as a substitute to BCCI CEO Rahul Johri, who has been accused of sexual harassment. Johri did not go to Singapore as he has been asked by the Committee of Administrators to submit his stance on the allegations of sexual harassment levelled against him. "Ever since it was decided that Mr. Rahul Johri would not attend the ICC-CEC meeting, an impression has been created that Mr. Amitabh Choudhary, Acting secretary BCCI, is being sent as a 'substitute' for Mr Johri. "It must be noted Mr. Choudhary is a Director on the ICC Board of Directors, the highest ICC forum, for nearly two years now and has been representing India/BCCI at the meetings in his capacity as the ICC Board Director," read the BCCI statement quoting Choudhary. In Johri's absence, Choudhary, who anyway was going to attended the ICC Board of Directors meeting, will ..
No plans to scale down steel production target: Min
The government has no plans to scale down its target for steel production unlike other countries as consumption of the alloy in India is growing slower than expected, Union Minister Birender Singh said Thursday. "...as far as China is concerned they reduction is 112 million tonnes (MT)....We are on a different footing and that's why we (have) decided in 2017 to have a capacity of 300 MT, which is at present...is more than the double, rather 2.5 time more than our present capacity," the steel minister said. Excess production of steel world over is a point of discussion globally, he said, adding "but in India the government stand is to augment it to 300 MT". "But, we made our stand very clear in that global forum of 34 countries and they have also accepted what we argued. And the level of consumption in the last two years has been 7.9 per cent (growth) in our country. That is one argument for having a capacity of 300 million tonnes. "And if you see last eight months steel production ...