Page 2289 - Business Finance
I Power Solutions India reports standalone nil net profit/loss in the September 2018 quarter
Sales decline 42.86% to Rs 0.04 crore
Indices hold firm at higher levels
Firmness prevailed in mid-afternoon trade as key indices hovered near the day's high. At 14:20 IST, the barometer index, the S&P BSE Sensex, was up 782.21 points or 2.30% at 34,783.36. The Nifty 50 index was up 251.45 points or 2.46% at 10,486.10. Sentiment was upbeat, backed by recovery in global stocks.
Pitstop to expand operations in Singapore
: Pitstop, city-based startup that provides car service at doorstep, Friday said it would invest USD 1 million to expand operations in Singapore. The company has floated a joint venture with Singapore-based GoldbellGroup to manage service and repair of vehicles in Singapore, a press release said. Goldbell is a market leader in industrial vehicles and has operations in Malaysia and Vietnam, the release said. The operations of Pitstop inSingapore have been launched with Goldbell Car Rental, a subsidiary of Goldbell Group,it said. Pitstop would be expanding its offerings to multiple fleets andend-customers, the release said. "Pitstop will provide an end-to-end tech platform for Goldbell Car Rental to manage service and repair of an approximate 1,500 vehicles with a maximum of 50 workshops across Singapore when it is fully implemented," the release quoted founder and chief executive officer of PitstopMihir Mohan as saying. The company has operations in Bengaluru, Delhi, ...
Domestic egg production to touch 100 billion annually
India's egg production will soon touch 100 billion annually from nearly 90 billion per year as the poultry sector is growing rapidly and becoming organised, the government said Friday. Addressing a conference to mark World Egg Day, Minister of State for Agriculture Parshottam Rupala said the poultry sector is growing rapidly and is contributing to the country's food security. He said the sector provides a lot of employment opportunity and would help immensely in achieving the government's target to double farmers' income by 2022. Rupala said the poultry business does not require huge investment that helps small and marginal farmers. Minister of State for Agriculture Krishna Raj spoke about importance of eggs in our daily life. "Eggs are clean and healthy food," she said. Speaking at the event, Agriculture Secretary Tarun Shridhar said the country's poultry sector is estimated at Rs 1 lakh crore. "Egg production is about 90 billion and will soon reach 100 billion per year," he ...
Gold up Rs 140 on festive buying; firm global cues
Gold maintained its upward trend for the third straight day Friday, rising Rs 140 to trade at Rs 32,120 per 10 grams on increased buying by jewellers to meet festive demand amid positive global cues. Silver prices also went up by Rs 500 to Rs 39,500 per kg on fresh buying by industrial units and coin makers. Marketmen said, sentiment was upbeat largely backed by increased buying by local jewellers, driven by ongoing festive season and a firming trend overseas amid fresh weakness in the US dollar. Globally, gold traded higher at USD 1,224.60 an ounce and silver at USD 14.66 an ounce in New York Thursday. In the national capital, gold of 99.9 per cent and 99.5 per cent purity rose further by Rs 140 each to Rs 32,120 and Rs 31,970 per 10 grams, respectively. The yellow metal had risen Rs 330 in the previous two days. Sovereign gold continued to be traded at previous level of Rs 24,600 per piece of eight grams. Following the rise in gold, silver-ready spurted Rs 500 to Rs 39,500 per kg ...
Interview: U.S.-China trade talks must cover currency, U.S. Treasury chief says
NUSA DUA, Indonesia (Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Friday that he told China's central bank chief that currency issues need to be part of any further U.S.-China trade talks and expressed his concerns about the yuan's recent weakness.
Global Markets: World shares bounce after rout, set for worst week since February
LONDON (Reuters) - Global shares were having their best day in nearly a month on Friday as European and Asian markets recovered from a brutal selloff that still left them set for their worst week since February.
IEA lowers its growth forecast in oil demand for 2018, 2019
The International Energy Agency on Friday revised lower its growth forecast in global oil demand for 2018 and 2019, citing high prices, trade tensions and a less favorable economic outlook. The estimated growth in global demand has been reduced by 110,000 barrels per day for each of the two years. This growth is expected to be 1.3 million bpd this year, then 1.4 million bpd in 2019.
Need coordinated action to minimise spillover effects of global risks: Garg
Asserting that trade tensions and rising oil prices are affecting emerging nations, Economic Affairs Secretary Subhash Chandra Garg said G-20 countries should take coordinated action to minimise the negative spillover effects of global risks on developing economies. During his intervention at G-20 Finance Ministers and Central Bank Governors Meeting in Bali, Indonesia on October 11-12, Garg also appreciated the progress of work under the Argentine Presidency on developing infrastructure as an asset class, a Finance Ministry statement said. Garg said risks related to trade tensions, financial vulnerabilities and oil prices have materialised and are having major impact on the Emerging Market Economies. The deliberations in the G-20 meeting centred on key risks facing the global economy, enhancing a resilient international financial architecture, financing infrastructure development. Besides, the meeting focussed on progress on compact with Africa as well as streamlining of the Global ...
Anjani Synthetics approves change in directorate and company secretary
At board meeting held on 12 October 2018
'Winter is coming': Indonesia warns of new crisis from trade war
NUSA DUA, Indonesia (Reuters) - Indonesian President Joko Widodo urged global central bankers and finance ministers on Friday to guard against growing risks facing the world's economy, as a heated Sino-U.S. trade war roils both emerging and developed markets.
China-US surplus hits record, adding fuel to trade war
China's trade surplus with the United States ballooned to a record USD 34.1 billion in September, despite a raft of US tariffs, official data showed Friday, adding fuel to the fire of a worsening trade war. Relations between the world's two largest economies have soured sharply this year, with US President Donald Trump vowing on Thursday to inflict economic pain on China if it does not blink. The two countries imposed new tariffs on a massive amount of each other's goods mid-September, with the US targeting USD 200 billion in Chinese imports and Beijing firing back at USD 60 billion worth of US goods. "China-US trade friction has caused trouble and pounded our foreign trade development," customs spokesman Li Kuiwen told reporters Friday. But China's trade surplus with the US grew 10 per cent in September from a record USD 31 billion in August, according to China's customs administration. It was a 22 per cent jump from the same month last year. China's exports to the US rose to USD ...
Kore Foods reports standalone net loss of Rs 0.05 crore in the September 2018 quarter
Reported sales nil
HCL Technologies Ltd drops for fifth straight session
The stock is quoting at Rs 988.45, down 2.04% on the day as on 13:19 IST on the NSE. HCL Technologies Ltd jumped 6.69% in last one year as compared to a 3.07% rally in NIFTY and a 33.41% spurt in the Nifty IT index.
IEA sees world oil market 'adequately supplied'
LONDON (Reuters) - Oil markets look "adequately supplied for now" after a big increase in production over the last six months but the oil industry is coming under strain as it copes with increasing global demand, the West's energy watchdog said on Friday.
Mahindra Agri Solutions forms JV with Sumitomo Corporation Group, Japan
JV in the crop care segment to provide a pipeline of new generation products and applications
State Bank of Mauritius loses Rs 143 cr in cyber fraud
The State Bank of Mauritius' (SBM) Mumbai branch has been cheated of nearly Rs 143 crore after unknown fraudsters hacked into its accounts here, an official said on Friday.
China vehicle sales fall for third straight month as slowdown bites
BEIJING (Reuters) - China's automobile sales fell 11.6 percent in September from a year earlier, the country's top auto industry association said on Friday, marking the third straight month of declining sales in the world's largest auto market.
Hindustan Copper Ltd rises for third straight session
The stock is quoting at Rs 52.4, up 1.06% on the day as on 12:49 IST on the NSE. Hindustan Copper Ltd is down 16.49% in last one year as compared to a 2.92% slide in NIFTY and a 9.92% slide in the Nifty Metal index.
Hathway Cable & Datacom Ltd gains for third straight session
The stock is quoting at Rs 28.2, up 4.44% on the day as on 12:49 IST on the NSE. Hathway Cable & Datacom Ltd is down 5.53% in last one year as compared to a 2.92% slide in NIFTY and a 14.32% slide in the Nifty Media index.