Page 2298 - Business Finance
Haryana to set up four big mandis: Minister
Haryana is in the process of setting up four big markets to facilitate farmers to sell their agricultural and floricultural produce at remunerative prices, Agriculture and Farmers' Welfare Minister O.P. Dhankar said here on Thursday.
HMSI launches digital loyalty programme
Honda Motorcycle and Scooter India (HMSI) Thursday launched a digital loyalty programme named Honda Joy Club for its customers, offering cashbacks and a host of other benefits. The club membership, which is open to both new as well as the existing 39 million customers of the company, would come at a cost of Rs 299. However, it can be availed for free till November 30, YS Guleria, vice-president for sales and marketing, said. "It's the first time that a 100 per cent digital loyalty programme is empowering customers with choice. Now Honda customers enrolling on Joy Club programme can earn virtual Honda currency at both purchase and subsequently every service visit too," said Guleria. Benefits range from complimentary Kisan Samadhan Services to personal accident insurance cover worth Rs 1 lakh for three years. Offers under the redemption include discounts on hospitality, travel, healthcare, apparel, F&B, entertainment, personal care, insurance, among others. Honda's ...
IMF's Lagarde warns against trade, currency wars, urges fix to global rules
NUSA DUA, Indonesia (Reuters) - International Monetary Fund Managing Director Christine Lagarde on Thursday warned countries against engaging in trade and currency wars that hurt global growth and imperil "innocent bystanders."
Oil extends losses as markets fall, inventories climb
LONDON (Reuters) - Oil prices slumped to two-week lows on Thursday as global stock markets fell, with investor sentiment made more bearish by an industry report showing U.S. crude inventories rising more than expected.
Sears skips payments to vendors amid bankruptcy concerns
(Reuters) - Sears Holdings Corp has started to miss payments to vendors, adding to concerns about its future after sources said the U.S. department store operator was preparing to file for bankruptcy in the coming days.
U.S. inflation slows in September on rental costs, energy
U.S. consumer prices rose less than expected in September, held back by a slower increase in the cost of rent and falling energy prices, as underlying inflation pressures appeared to cool slightly.
S&P, Nasdaq futures turn positive after tame inflation data
(Reuters) - The S&P 500 and the Nasdaq turned positive on Thursday as Treasury yields headed lower after data showed consumer prices rose less than expected in September, indicating inflation pressures were easing.
U.S. inflation slows in September, weekly jobless claims rise
WASHINGTON (Reuters) - U.S. consumer prices rose less than expected in September, held back by a slower increase in the cost of rent and falling energy prices, as underlying inflation pressures appeared to cool slightly.
S&P futures turn positive after tame CPI data
(Reuters) - The S&P 500 and Nasdaq index futures reversed losses to turn positive on Thursday after data showed U.S. consumer prices rose less than expected in September, as underlying inflation pressures appeared to cool slightly.
OMCs shares surge; HPCL zooms nearly 15% on easing crude prices
Shares of oil marketing companies were in high demand Thursday, surging up to 15 per cent on falling global crude oil prices. The scrip of Hindustan Petroleum Corporation zoomed 14.70 per cent, Indian Oil Corporation 5.39 per cent and Bharat Petroleum Corporation Limited gained 5.11 per cent on the BSE. Brent crude, the international benchmark, fell 1.78 per cent to USD 81.61 per barrel. Meanwhile, in the broader market, the BSE Sensex slumped 759.74 points, or 2.19 per cent, to end at 34,001.15.
BSE signs pact with Dubai Mercantile Exchange for commodity derivatives mkt
Leading bourse BSE Thursday said it has signed a pact with Dubai Mercantile Exchange (DME), international energy futures and commodities exchange in the middle-east, to explore ways in maximising the potential of the commodities market in India. The partnership comes on the heels of BSE's launch of its commodities derivatives trading platform on October 1. In a statement, BSE said that the strategic collaboration with the energy-focused commodities exchange will help create a resourceful commodities derivatives market to facilitate tremendous growth in the country's energy sector. This synergy will help Indian corporates to hedge their exposure on BSE's commodities derivatives segment. "With the fundamental objective of evolving the commodity derivatives market, we are pleased to associate with DME in this endeavour that will immensely help all stakeholders," BSE MD and CEO Ashishkumar Chauhan said. Raid Al-Salami, head of DME, said as the world's fastest growing major economy India ..
Sundaram Clayton inaugurates new foundry at Oragadam, Chennai
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PM Khan asks Finance Ministry to examine how debts zoomed over past 10 years
Saddled with mounting debts, Prime Minister Imran Khan on Thursday asked the finance ministry to conduct an analysis of how Pakistan's debt rose five-fold to Rs 30 lakh crore in 10 years, the state media reported. "We need to know where that money went and what projects it was used in. Our government has just come in and we have been forced to take loans to pay off the loans that they [the previous governments] took. At least we should know where those loans went," he said while while chairing a meeting of his Cabinet. Pakistan's foreign currency reserves dropped to USD 8.4 billion in late September, barely enough for current debt payments. Khan's government blames the previous administration for the country's economic woes. It is unclear how much Pakistan will seek to borrow from the International Monetary Fund, but the country's media outlets have reported that at least USD 8 billion is needed to tackle the current crisis. During the Cabinet meeting, Khan instructed the finance ...
NBFCs need to strengthen risk management framework: Report
With the recent regulatory changes and the government's initiatives altering the operating mechanism, a report Thursday suggested that there is a need for non-banking financial companies (NBFCs) to strengthen their risk management framework. Risk management is paramount for NBFCs, given the implications on the ability to successfully raise funds from the market and potentially enlist on secondary markets through an IPO in the medium to long term, the joint report by Assocham and PwC said. "With recent events increasing the scrutiny on NBFCs and their operations, it is imperative for players to build robust risk and governance models as they grow their lending business," the report said. It further said that NBFC lenders must develop and implement risk management frameworks to pro-actively detect, manage and mitigate internal and external risk types. Some of the risks that these players need to manage include credit risk, vendor risk, conducting periodic compliance ...
WEF launches Centre for Fourth Industrial Revolution in India
The World Economic Forum on Thursday announced its new Centre for the Fourth Industrial Revolution in India, which would aim to bring together the government and business leaders to pilot emerging technology policies. The centre, which was launched by Prime Minister Narendra Modi at a function here, would be based in Maharashtra and it has selected drones, artificial intelligence and blockchain as the first three project areas, the World Economic Forum (WEF) said. Geneva-based WEF, which describes itself as an international organisation for public-private cooperation, said the new centre will work in collaboration with the government on a national level to co-design new policy frameworks and protocols for emerging technology alongside leaders from business, academia, start-ups and international organizations. NITI Aayog will coordinate the partnership on behalf of the government and the work of the centre among multiple ministries. The WEF has also entered into partnerships with the ..
Analysis: China constricts capital outflows with eye on yuan stability
SHANGHAI (Reuters) - China's latest attempts at restricting outward investment by its residents show just how nervous policymakers in the world's second largest economy are about possible capital flight spurred by a broadening Sino-U.S. trade war.
OPEC says oil market well supplied, wary of 2019 surplus
LONDON (Reuters) - OPEC sees the oil market as well supplied and is wary of creating a glut next year, the group's secretary-general said on Thursday, suggesting producers are in no rush to expand a June agreement that raises output.
Walgreens revenue misses estimates on weak international demand
(Reuters) - Walgreens Boots Alliance Inc came up short of analysts' estimates for quarterly revenue on Thursday, as sales of beauty products and prescription drugs fell at its UK-based Boots chain, dragging shares lower.
Global Markets: European stocks slump to 21-month low, Wall Street braces
LONDON (Reuters) - European stocks slumped to a 21-month low on Thursday after Wall Street's worst losses in eight months triggered a surge of global selling that also hit Asia and emerging markets.
Mahindra inks pact with Castrol for supply of engine lubricants
Mahindra & Mahindra (M&M) Thursday said it has inked a pact with lubricant manufacturing firm Castrol India. Under the aegis of the agreement, Mahindra will endorse a range of Castrol products which include aftermarket engine oils and transmission fluids for Mahindra tractors. "We look forward to partnering with Castrol and benefitting from their strong reputation, high quality products and widespread distribution network pan India through its over 1 lakh strong retail outlets," M&M President & Chief Purchase Officer, Powerol & Spares Business Hemant Sikka said. Castrol India Managing Director Omer Dormen said both the organisations share similar values thriving on world-class technology, innovation and sustainability for the future. Based on formulation exclusively developed by Mahindra for use in their tractors, specifically for engine and wet-brake applications, Castrol will supply these products through its wide distribution network.