Page 2296 - Business Finance
India's oil imports from Iran edged up in September due to loading delays
NEW DELHI (Reuters) - India's oil imports from Iran edged up in September from the previous month as refiners pushed back loading of some August cargoes due to a delay in obtaining government approval to use Iranian ships and insurance, data obtained from sources showed.
Walgreens revenue hit by weakness in personal care products, OTC drugs
(Reuters) - Walgreens Boots Alliance Inc came up short of analysts' estimates for quarterly revenue on Thursday, as sales of personal care products and over-the-counter drugs fell both in its home market and at its UK-based Boots chain.
TCS posts robust net, revenue growth in Q2
Global software major Tata Consultancy Services (TCS) on Thursday reported Rs 7,901-crore consolidated net profit for the second quarter of fiscal 2018-19, registering a robust 22.6 per cent annual growth from Rs 6,446 crore in the same period a year ago.
Global Markets: Wall Street extends slide, world equities at one-year low
NEW YORK (Reuters) - A global measure of equity prices fell to a 1-year low on Thursday as Wall Street extended its October slide into a sixth session as investors feared an escalating U.S. trade war with China and risks from a recent climb in interest rates.
India heading for $trillion digital economy: NASSCOM
There are tremendous opportunities in start-ups right now in the country and India predicts a $trillion digital economy in the coming years, said NASSCOM chief Devyani Ghosh on Thursday.
Wall Street extends sell-off, S&P breaches key level
(Reuters) - U.S. stocks dropped on Thursday, extending a sell-off from a day earlier, after the major indexes broke though some key technical levels as risk-appetite showed no signs of picking up.
Sony Pictures to broadcast T10 League for 3 yrs
Broadcaster Sony Pictures Networks India has bagged the rights to telecast International Cricket Council-sanctioned T10 League for a three-year period starting with the 2018 edition in Indian sub-continent, the Middle East and North Africa. Besides, the league matches will also be streamed live on their digital platform SonyLIV. "We are delighted to have Sony Pictures Networks as our broadcast partners for Indian Sub-continent and the Middle East and North Africa from 2018 edition for three years. This allows us to take the league to a much-wider audience across the region and help us promote the format and grow year-on-year," T10 League chairman Shaji Ul Mulk said. ********************* NSE and NSE IFSC sign licensing agreement with LME * National Stock Exchange of India (NSE) and NSE IFSC, NSE's first international exchange at GIFT City, Gujarat, Thursday entered into a licensing agreement with the London Metal Exchange (LME). The agreement will permit NSE and NSE ...
FT says James Murdoch in line for Tesla chair. Musk reply: incorrect
SAN FRANCISCO/BOSTON (Reuters) - Elon Musk replied with a Tweet saying: "This is incorrect" after the Financial Times reported that outgoing Twenty-First Century Fox Inc Chief Executive James Murdoch was the lead candidate to replace him as Tesla Inc chairman.
Life insurers' new premium income down 16 pc at Rs 17,491 cr in Sep
Life insurers' premium income from new business fell by 16.28 per cent to Rs 17,490.68 crore in September, data from Insurance Regulatory and Development Authority of India (Irdai) showed Thursday. The insurance companies had earned Rs 20,892.07 as premium from new policies in the same month a year ago. Of the all 24 life insurance companies, state-owned LIC witnessed a decline of nearly 30 per cent as premium income from new policies to Rs 10,778.81 crore in September as against Rs 15,302.99 crore in the same month previous year. However, the 23 private sector players recorded an increase of 20 per cent in their new business premium or the first year premium at Rs 6,711.86 crore during the month under review from Rs 5,589.08 crore in year-ago period. Among the private sector life insurers, SBI Life witnessed a jump of 36.35 per cent in new premium at Rs 1,115.11 crore as against Rs 817.81 crore year ago. HDFC Standard Life 30.45 per cent (Rs 1,459.80 crore); ICICI Prudential Life ...
Motoroyale unveils 7 new superbikes; plans to raise Rs 75-80cr
Motoroyale, Kinetic group's venture of multi-brand superbikes, Thursday unveiled seven new superbikes besides partnering with three new brands. The company also said it is looking to raise Rs 75-80 crore for working capital, expansion needs. The firm, which already has tie-up with Italian superbike makers MV Augusta and British firm Norton, said it would expand its dealership network to seven, from one at present, over the next by November as it seeks to enhance its presence in the domestic market. "Today we are unveiling the entire strategy announcing tie up with five brands (including the two existing ones), launching seven new motorcycles in nine new categories," Ajinkya Firodia, managing director, Motoroyale, told PTI. The three new brands are Hyosung, SWM and FB Mondial, he said, adding the launch of new bikes will be followed by setting up of six new dealerships in Mumbai, Hyderabad, Chennai, Delhi, Kochi and Bangalore. The company at present has only one ...
Trump calls 'loco' Federal Reserve 'too aggressive': Fox interview
WASHINGTON (Reuters) - U.S. President Donald Trump launched a second day of criticism against the Federal Reserve on Thursday, calling its interest rate increases a "ridiculous" policy that was making it more expensive for his administration to finance its escalating deficits.
Apple gets critical iPhone technology in $600 million Dialog deal
SAN FRANCISCO/FRANKFURT (Reuters) - Apple Inc is taking control over the power-management technology at the heart of its iPhones in a $600 million deal with Dialog Semiconductor that also secures the German-listed company's role as a supplier to the U.S. tech giant.
Om Metals seeks Rs 523cr termination compensation from Raj gov
Om Metals Infraprojects' Thursday said its special purpose vehicle (SPV) Bhilwara Jaipur Toll Road Ltd (BJTR) has sought termination compensation of Rs 523 crore from the Rajasthan government. BJTR, which was formed to execute road projects, served a termination notice to the Rajasthan government citing material default, a company statement said. As per the termination clause 37.3.2 of concession agreement, the government of Rajasthan is liable to pay complete debt due on the project and 150 per cent of the adjusted equity. The Rajasthan government has to pay 1.5 times of equity, debt and compensation as permitted in the concession agreement. Total claim sought by BJTR is Rs 523 crore out of which lenders outstanding dues is Rs 205 crore, according to the release. The project is operational since December 2014. From April 2018, the private vehicles were made toll free by the state government and the company was exploring with NHAI to convert the state highway into a ...
Big Oil still reluctant to open spending taps: Goldman
LONDON (Reuters) - Energy companies and investors are focused on profits and reluctant to boost spending even after crude prices surged to four-year highs, a senior Goldman Sachs banker said on Thursday.
Wall Street dips again, inflation data calms nerves
(Reuters) - U.S. stocks steadied slightly after their worst day in eight months on Thursday as a smaller-than-expected rise in consumer prices suggested inflationary pressures were easing, weakening the case for an aggressive campaign of further interest rate rises.
Chambers of commerce should be conscience keepers of private sector: Naidu
The chambers of commerce should be conscience keepers of the private sector and should also work to make Indian businesses inclusive, said Vice President M. Venkaiah Naidu here on Thursday.
World Bank to provide USD 195 mn to Nepal for financial, energy sector reform
The World Bank has announced that it will provide around USD 195 million concessional loan to Nepal to reform the country's financial and energy sectors. An agreement to this effect was reached during the ongoing annual meeting of the World Bank and International Monetary Fund (IMF) at Bali in Indonesia, according to officials. Chief of International Economic Cooperation Coordination Division (IECCD) at the Ministry of Finance, Krishna Nepal and the World Bank's Country Director for Nepal, Qimiao Fan inked the agreement on Wednesday in the presence of Finance Minister Yubaraj Khatiwada and Vice-Chairperson of the World Bank for South Asian region, Hartwig Schafer. Finance Minister Khatiwada lauded the World Bank for lending support in various sectors of Nepal including infrastructure development, education, health and tourism development.
Southeast Asian leaders affirm free trade goals
Leaders of the Association of Southeast Asian Nations have reaffirmed their commitment to open trading systems that have underpinned their economic growth. The leaders met Thursday in Bali, Indonesia, on the sidelines of the annual meeting of the International Monetary Fund and World Bank. Singapore Prime Minister Lee Hsien Loong said the group will redouble efforts to reach a "substantial conclusion" to a regional trade arrangement, the Regional Comprehensive Economic Partnership, by the end of the year. That initiative includes China, India and Japan, but not the United States. Indonesian President Joko Widodo said ASEAN, which includes wealthy Singapore and poorer countries like Myanmar and Laos, also is determined to close gaps in development within ASEAN. He said: "This is important, to make sure that no one is left behind." About a dozen activists have staged a brief, peaceful protest at the annual meeting of the World Bank and the International Monetary Fund in Bali, ...
TCS looks to close FY19 in double digits after 2 years
IT bellwether Tata Consultancy Services (TCS) Thursday said it is looking at ending the year with a double-digit growth after a gap of two years, on the back of what it termed as a "landmark quarter" for the firm. The country's largest exporter posted a 22.6 per cent jump in consolidated net profit at Rs 7,901 crore in September quarter, compared with a net profit of Rs 6,446 crore in the year-ago period. Revenues grew 20.7 per cent at Rs 36,854 crore in the quarter, up from Rs 30,541 crore a year ago. Its earning per share for the quarter was at Rs 20.66. In constant currency terms, revenues were up 11.50 per cent year-on-year. "On a one-time departure from our typical stance, I want to share that we have the numbers on the board and the momentum to ensure that the double-digit trajectory continues for the rest of the year. The journey has been a reaffirmaton of TCS strategies... it has been a landmark quarter for us," TCS chief executive officer and managing director, .
Sensex, Nifty end 2% lower amidst global sell-off and weak rupee (Roundup)
A massive slide in global stock markets, along with fears of continued foreign fund outflows and a weak rupee plunged India's key equity indices by over two per cent on Thursday.