Page 2274 - Business Finance
Satin Creditcare partners with IndusInd Bank
Satin Creditcare Network Limited, the second largest microfinance company in India, has entered into a strategic Business Correspondent (BC) partnership with IndusInd Bank.Till date, SCNL has disbursed more than Rs. 200 cr. across Bihar, West Bengal, Uttar Pradesh, and Rajasthan under this partnership, and is looking forward to the opportunity to scale up in the short term.SCNL has also diversified into housing finance and BC partnerships with other banks/NBFC through its subsidiaries Satin Housing Finance Limited and Taraashna Services Limited respectively. Lending for micro, small, and medium enterprises (MSME) is currently managed by the parent company SCNL.Along with product diversification, SCNL is also working towards nationwide presence. It has recently commenced operations in South India, with the first loan disbursement in Chennai, Tamil Nadu. With this, SCNL is now operationally present in 21 states and union territories. The company also plans to enter Karnataka market ...
Oil prices rise amid Saudi tensions, but demand outlook drags
BEIJING (Reuters) - Crude oil futures rose on Monday as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked worries about supply, although concerns about the long-term outlook for demand dragged on prices.
China imposes anti-dumping import tariffs on US, Japan
China on Monday announced it will impose anti-dumping tariffs of 123.4 per cent and 41.1 per cent on the import of hydroiodic acid from the US and Japan for the next five years.
India's September wholesale inflation rises to 5.13%
India's annual rate of inflation based on wholesale prices increased to 5.13 per cent in September from a rise of 4.53 per cent in August, official data showed here on Monday.
TV18 Broadcast consolidated net profit rises 450.61% in the September 2018 quarter
Sales rise 427.36% to Rs 1198.33 crore
TV18 Broadcast standalone net profit declines 36.92% in the September 2018 quarter
Sales rise 26.09% to Rs 200.05 crore
Agile network must for India's digital journey: Riverbed Technology
Enterprises and digital service providers in India urgently need an agile and flexible network to support the countrys new digital economy which is gravitating towards Cloud- and Internet of Things (IoT)-based technologies, says a top executive of San Francisco-headquartered IT company Riverbed Technology.
Hyundai's Kona EV ready to hit the road
Carmaker Hyundai is developing a crossover sports utility vehicle (SUV) named Kona and the electric vehicle (EV) is reportedly ready to hit the road.
Lead futures up on spot cues
Lead prices moved up by 0.39 per cent to Rs 153.15 per kg in futures trade on Monday as participants created fresh positions, driven by pick-up in spot market demand. At the Multi Commodity Exchange, lead for delivery in November moved up by 60 paise, or 0.39 per cent, to Rs 153.15 per kg, in a business turnover of 70 lots. Likewise, the metal for delivery in October edged up by 50 paise, or 0.33 per cent, to Rs 152.70 per kg in 622 lots. Market analysts attributed the rise in lead futures to speculators enlarging their positions following pick-up in demand from battery-makers in the spot market.
WPI inflation rises to 5.13 pc in Sep
Inflation based on wholesale prices rose to a two-month high of 5.13 per cent in September, mainly due to hardening of food prices and rise in cost of petrol and diesel. The Wholesale Price Index (WPI) based inflation stood at 4.53 per cent in August and 3.14 per cent in September last year. According to the government data released Monday, food articles witnessed hardening of prices with deflation at 0.21 per cent September as against 4.04 per cent in August. Deflation in vegetables was 3.83 per cent in September, compared to 20.18 per cent in the previous month. Inflation in 'fuel and power' basket in September was 16.65 per cent. Individually, in petrol and diesel it was 17.21 per cent and 22.18 per cent, respectively, and for LPG it was 33.51 per cent. Among food articles, potato inflation spiked to 80.13 per cent in September, while onion and fruits witnessed deflation of 25.23 per cent and 7.35 per cent, respectively. Deflation in pulses stood at 18.14 per cent. The 5.13 per ...
R S Software (India) Ltd leads gainers in 'B' group
Thiru Arooran Sugars Ltd, Uttam Sugar Mills Ltd, CMI Ltd and Ponni Sugars (Erode) Ltd are among the other gainers in the BSE's 'B' group today, 15 October 2018.
Sensex, Nifty pare intraday losses
Key equity indices pared losses in early afternoon trade. At 12:17 IST, the barometer index, the S&P BSE Sensex, was down 24.95 points or 0.07% at 34,708.63. The Nifty 50 index was down 11.65 points or 0.11% at 10,460.85. Sentiment continued to be fragile as rising oil prices and a weakening rupee added to woes during the earnings season, amid negative Asian cues.
ConvaTec slashes forecast on change in customer's inventory policy
(Reuters) - British medical devices maker ConvaTec on Monday lowered its expectations for organic revenue and adjusted operating earnings margin for the full year, citing a change in inventory policy by its largest customer in its Infusion Devices business.
Venkys (India) Ltd leads gainers in 'A' group
Granules India Ltd, DCM Shriram Ltd, Natco Pharma Ltd and L&T Technology Services Ltd are among the other gainers in the BSE's 'A' group today, 15 October 2018.
StanChart non-committal about Indonesian plans
Singapore, Oct 15 (ANI): Amidst persistent rumours that British lender, Standard Chartered Bank PLC, is looking to change its business structure in Indonesia, the bank is keeping its cards close to its chest with regards to plans for world's fourth most populous country.Chief Executive Bill Winters said when speaking to Reuters this week that the bank is "actively working on finding a solution". Winters was at the annual meeting of the Institute of International Finance held on the Indonesian resort island of Bali. This meeting is held adjacent and at the same location as the larger annual meeting of the International Monetary Fund and World Bank Group.Winters further added that the bank is doing well and that "the bank needed to be fixed up, it's now fixed up. Now we can talk about what we need to do."In Indonesia, StanChart has a 45 per cent stake in the larger Bank Permata as well as runs a smaller wholly owned operation. There has been recent speculation that the ownership ...
Kenya's Safaricom loses 1.6 percent users' market share in second quarter
NAIROBI (Reuters) - Kenya's Safaricom lost 1.6 percent of its telecom subscribers' market share in the quarter ended June, the industry regulator said, marking the third straight quarterly drop for the country's biggest operator.
UAE's Waha Capital acquires minority stake in Dubai's Petronash
ABU DHABI (Reuters) - UAE investment firm Waha Capital on Monday said it acquired a significant minority stake in Dubai-based oil field services company Petronash Holdings for $88 million.
India Stresses on the strengthening of the Multilateral Institutions like IMF; Calls for enhancement in the quantum of Quota Resources
Subhash Chandra Garg, Secretary, DEA later participated in the 98th Meeting of the Development Committee Plenary. The items on the Agenda included the Human Capital Project: A Project for the World; Disruptive Technologies and the World Bank Group - Creating Opportunities - Mitigating Risks; The Bali Fintech Agenda; and Debt Vulnerabilities in Emerging and Low-Income Economies.In his intervention at this Session, Shri Subhash Chandra Garg, Secretary, Department of Economic Affairs (DEA) mentioned that India had supported the capital increase of the World Bank Group with the expectation that it will deliver on its core development responsibilities articulated in the Forward Look, and expects that the additional capital would be put to work expeditiously and leveraged to enhance IBRD lending volumes and IFC investments. He mentioned that digital technologies are transforming the very system of production of goods and services and their distribution. These technologies are in the ...
Gold rises as falling markets burnish appeal
BENGALURU (Reuters) - Gold prices rose on Monday as Asian shares resumed their fall and investors grappled with the impact of the ongoing Sino-U.S. trade war and higher U.S. interest rates.
Refined soya oil futures advance on rising demand
Refined soya oil prices advanced by 0.56 per cent to Rs 759 per 10 kg in futures trade Monday as participants increased their holdings on the back of rising demand in the spot market. In futures trading at the National Commodity and Derivatives Exchange, refined soya oil for delivery in November month contracts rose by Rs 4.20, or 0.56 per cent to Rs 759 per 10 kg with an open interest of 34,970 lots. Similarly, delivery in October edged up by Rs 2.60, or 0.35 per cent to Rs 752.50 per 10 kg in 14,860 lots. Analysts said, increasing bets by traders following surging demand in the physical market against restricted supplies from growing regions mainly kept refined soya oil prices higher in futures trade.