Page 2237 - Business Finance

75 % of Indo-Nepal pipeline construction complete: NOC

About seventy-five per cent of the petroleum pipeline jointly being constructed by India and Nepal has been completed, the Nepal Oil Corporation (NOC) stated.Speaking to ANI, Sushil Bhattarai, the acting managing director of the NOC confirmed that 75 per cent progress in the first transnational pipeline connecting India and Nepal has been achieved."In the Nepali side, I think 70 to 75 per cent of the laying of the pipeline has been completed as of today. When you consider the distance from the Motihari (Bihar) to Amlekhganj (Nepal), we can take it as 50 per cent," Bhattarai said.The first petroleum pipeline extending from India's Motihari to Amlekhganj in Parsa is being jointly constructed by the Indian and Nepalese governments. The NOC is funding the construction of the pipeline on behalf of the Nepal government."This petroleum pipeline project is progressing smoothly. We have already laid around 18 kilometres of the pipeline in the Nepalese section. Similarly, other activities also .

UK retail sales fall in September as shoppers buy less food

(Reuters) - British retail sales fell by the most in six months in September after a large drop in food purchases, which followed an unusually warm summer that had encouraged Britons to splash out on barbecues.

Pakistan's PIA delays salaries as monthly losses hit $15 million: paper

KARACHI, Pakistan (Reuters) - Troubled national carrier Pakistan International Airlines (PIA) is suffering operational losses of 2 billion rupees ($15 million) each month and has had trouble paying employees this month, the Dawn newspaper said on Thursday.

Berlin: We've started reform of interest-rate reserve fund for life insurers

BERLIN (Reuters) - German Deputy Finance Minister Joerg Kukies said on Thursday that Germany had started to revise the interest-rate reserve fund for German life insurers.

UK's Domino's shares rise on buyback, organic sales rise

(Reuters) - Domino's Pizza Inc's UK franchise Domino's Pizza Group launched a 25 million pound ($32.70 million) share buyback on Thursday after posting a 6 percent rise in organic sales due to a rise in website and app orders.

Takeda gets Japanese approval for $62 billion Shire purchase

(Reuters) - Takeda Pharmaceutical Co Ltd said on Thursday Japan's Fair Trade Commission had approved its $62 billion acquisition of Shire Plc, bringing the Japanese firm closer to sealing a deal that will make it a global top 10 drugmaker. The deal, which will be the largest overseas purchase by a Japanese company, has already received unconditional clearance from regulators in the United States, Brazil and China.

UK fashion retailer New Look to exit China, close 120 stores

LONDON (Reuters) - British fashion group New Look is to exit China and will close its remaining 120 stores there by the end of the year, it said on Thursday.

PMAI seeks govt support to open pellet industry, export from Karnataka

Export will also help in getting foreign exchange

Mitsui Life to raise foreign bond holdings by $1.2 billion by March

TOKYO (Reuters) - Japan's Mitsui Life Insurance plans to increase its foreign bond investments without currency hedging by about 140 billion yen ($1.2 billion) in the current financial half year to March 2019, a senior company official said on Thursday.

China robot market growth to slump this year as trade war weighs

TOKYO (Reuters) - Sales of industrial robots in China, the world's biggest market, will grow this year at only about a third of last year as an escalating Sino-U.S. trade war hits spending on equipment, a global robot group said on Thursday.

Unilever third-quarter sales growth picks up with prices

LONDON (Reuters) - Unilever, which dropped plans to move to the Netherlands this month after British investors rebelled, reported a pick-up in third-quarter sales on Thursday, as it was able to pass on higher commodity costs to consumers.

Foreigners sell Asian bonds in September on rising U.S. yields

(Reuters) - Foreigners net sold Asian bonds for the first time in three months in September as rising U.S. yields and a stronger dollar undermined the allure of regional assets.

Avaali Solutions to launch unique vendor portal; aims to embrace digital transformation

Avaali Solutions, a startup pioneering in the space of enabling digital transformation for enterprises across various sectors in India, has announced the launch of their unique vendor platform.The platform is aimed at taking digitization of various business processes within a company, to a higher level while ensuring efficacy and transparency."We're coming up with a one of its kind portal that is going to allow our enterprises to leverage early payment discounts and instantaneously validate invoices received from suppliers," said founder, Director - Avaali Solutions, Srividya Kannan.About 45 of the 85+ implementations that the company has done are with large enterprises in India across verticals like Pharma, FMCG, Auto, Banking, etc. Avaali is seeing significant market opportunities that not only allows them to scale by replicating the successful projects across several large Indian enterprises, but also by going to market with some of their newer offerings.Avaali has already proved ..

Bajaj Finance increases fixed deposit rate of interest

Bajaj Finance Ltd., the lending and investment arm of Bajaj Finserv, has increased its Fixed Deposits' (FD) rate of interest.The company has increased its FD rates for existing loan and FD customers to up to 9%* and new customers to up to 8.75%*. For senior citizens the FD rates are increased to up to 9.10%*.These new rates are offered on an annual basis, applicable under the cumulative and non-cumulative payout schemes on a 36-60 months tenor. The annual rate of interest valid for deposits up to Rs. 5 crore (w.e.f 17 October 2018).For the same schemes and tenor, the new Fixed Deposit customers would get 8.75% instead of 8.50% earlier. The existing loan and FD customers are offered a rate of 9% which previously was 8.75%. The rate of interest, has thus recorded a rise of 0.25% on a tenor of 36-60 months across all customer categories.For the recently launched special tenor scheme of 15 months with a minimum FD size of Rs. 1 lakh, the FD rate of interest would be up to 8.05% for new ...

Short positions on most Asian currencies drop; dollar momentum seen waning: Reuters poll

(Reuters) - Short positions on most Asian currencies were seen unwinding over the past two weeks, a Reuters poll showed on Thursday, with traders turning sceptical of the dollar's bull run after U.S. retail sales data came in below expectations.

Global Markets: Asia stocks falter as dollar, U.S. yields rise to one-week high

TOKYO (Reuters) - China's benchmark stock index skidded to four-year lows on Thursday, dragging Asian equities lower, while the dollar hit a one-week high as minutes of the Federal Reserve's latest meeting reinforced expectations that U.S. yields will rise further.

Philippines' San Miguel halves food unit share sale, seeks $920 million

MANILA/SINGAPORE (Reuters) - Philippine conglomerate San Miguel Corp said it is looking to raise about $920 million through a sale of shares in its food unit, slashing the size of the offering by almost half due to weakness in the stock market.

Ex-Ladbrokes CFO leaves GVC months after merger

(Reuters) - GVC Holdings Chief Financial Officer Paul Bowtell will leave the gambling firm to join a private equity investor just a year after taking the role as part of its takeover of British high-street brand Ladbrokes, the company said on Thursday.

Ericsson tops Q3 forecasts as savings and 5G sales kick in

STOCKHOLM (Reuters) - Mobile telecom equipment maker Ericsson beat third-quarter operating profit forecasts on Thursday, boosted by sales of next-generation 5G gear in North America, and said it was making solid progress towards its long-term financial goals.

Publicis regains some footing with third-quarter sales

PARIS (Reuters) - France's Publicis regained some footing in the third-quarter, lifting its shares, as the addition of new global clients pulled up sales in what remains a challenging market for traditional advertising groups.