Page 2299 - Business Finance
Green Building Leaders Rick Fedrizzi And Elora Hardy Announced as Keynote Speakers at Greenbuild India
/ -- Award-winning green building conference and expo returns to Mumbai, November 15-16 Today, the U.S. Green Building Council (USGBC), creators of the LEED green building program, announced Rick Fedrizzi, Chairman and CEO of the International WELL Building Institute (IWBI) and Elora Hardy, founder and creative director at Ibuku, as keynote speakers for Greenbuild India (https://greenbuild.usgbc.org/india). Greenbuild is presented by USGBC and in partnership with the ABEC Exhibitions & Conferences Pvt. Ltd. (ABEC). It is the world's largest green building conference experience and a celebration of the intersection of humanity and the built environment. "Greenbuild is an opportunity for leaders and practitioners across India to come together and determine what's next for the green building movement," said Mahesh Ramanujam, president and CEO, USGBC and Green Business Certification Inc. (GBCI). "It's an honor to have Rick and Elora join us for this year's monumental event. Their ...
Thailand blocks sale of French-owned power producer
Thailand's energy regulator said Thursday it would block PTT Group's multibillion-dollar acquisition of a company owned by French energy giant Engie on grounds that it could create a electricity monopoly in some areas. Engie signed a deal with Thai group Global Power Synergy Public Company (GPSC), part of state-owned PTT, in June to sell a 69.1 per cent stake in Glow, an independent coal-powered energy producer listed on the Thai Stock Exchange. The sale would have been worth an estimated USD 3 billion. But Narupat Amornkosit, secretary general of Thailand's Energy Regulatory Commission (ERC), said in a statement that a unanimous decision was made to block the sale. "After the ERC discussed, it found that the acquisition might lead to a monopoly within the electricity producing companies in some industrial areas, which would reduce competition," Narupat said. GPSC is "exploring new alternatives" following the decision, president Chawalit Tippawanich in a statement. The firm also ...
Fuel price cut by oil firms was one-time move: Official
The petrol and diesel price cuts made earlier this month by state-run oil marketing companies was a "one-time measure", and the government has no intention of reversing the deregulation of the oil market, a Finance Ministry official said here on Thursday.
By 2025, global AI market to reach $380 billion :Huawei
"Naturally, we believe that industry applications will be key to the success of AI over the next decade," William Xu, Director of the Board and Chief Strategy Marketing Officer, said in his keynote address on the second day of the Huawei Connect 2018.
Classic Legends to bring back Jawa motorcycle brand in India next month
Classic Legends Pvt Ltd, a part of the Mahindra Group, is set to bring back popular motorcycle brand of yesteryears Jawa to the Indian market next month, a top company official said Thursday. The company, in which the Mahindra group has 60 per cent stake, plans to unveil three products on November 15 and will play in the 250cc plus mid-segment of the Indian motorcycle market. "We are looking to launch the brand with three products...We are going to be a mid-segment player with Jawa," Classic Legends CEO Ashish Joshi told PTI here. He, however, declined to share details of the products that have been lined up for introduction. When asked by when the Jawa models will hit the market, he said "very soon" after the unveiling on November 15. Jawa will enter a segment, which is currently dominated by Royal Enfield. Other global players such as Harley Davidson and Triumph have also been targeting to capture a significant part of the segment. Classic Legends Thursday unveiled a 293cc liquid ...
Bank of Baroda's MD and CEO P S Jayakumar gets one-year extension
Bank of Baroda's Managing Director and Chief Executive Officer P S Jayakumar was Thursday given one-year extension, an order issued by the Personnel Ministry said. Jayakumar, a chartered accountant by qualification, had joined Bank of Baroda in October, 2015. The Appointments Committee of the Cabinet has approved extension in tenure of Jayakumar for a period of one year, i.e. till October 12, 2019, beyond his currently notified period of appointment of three years that expires on October 12, 2018, it said. Prior to his appointment as the MD and the CEO of the bank, he was the co-founder and CEO of VBHC Value Budget Housing (VBHC), a leader in housing for low and moderate income household, as per his bio data. He is a career banker since 1986 and has spent over 23 years in Citibank in India and Singapore. Jayakumar has contributed to several innovations in retail banking in India.
Airline stocks end with up to 3 pc gains on ATF excise duty cut
Airline stocks bucked the weak broader market sentiment and ended with up to 3 per cent gains Thursday after the government cut excise duty on jet fuel to 11 per cent to give relief to the aviation industry. Shares of InterGlobe Aviation gained 3.25 per cent, SpiceJet rose 3.16 per cent and Jet Airways 1.11 per cent on the BSE. In intra-day trade, these stocks surged up to 7.44 per cent. Aviation stocks had surged up to 8 per cent in the previous trading session also. After petrol and diesel, the government Wednesday cut excise duty on jet fuel to 11 per cent to give relief to the aviation industry that has been hit hard over recent weeks by rising fuel prices and plummeting rupee. Jet fuel prices this month hit their highest level since January 2014 as rising international oil prices and plummeting rupee value pushed rates. ATF is one of the biggest costs in airline operations. Meanwhile, the BSE Sensex slumped over 759.74 points to end at 34,001.15 Thursday.
German growth limited by trade disputes, labour shortages
BERLIN (Reuters) - The German economy is losing steam as rising trade tensions abroad and a lack of skilled workers at home limit the growth prospects for Europe's largest economy, Economy Minister Peter Altmaier said on Thursday.
France's Ingenico targeted by Natixis, Edenred in payments deal flurry
PARIS/LONDON (Reuters) - Ingenico is being pursued by business services company Edenred and corporate banking group Natixis as consolidation in the payments field heats up.
Corrected: New stores and online growth help IKEA fend off rivals
By Anna Ringstrom and Sonya Dowsett
TCS posts record quarterly profit on strong growth
(Reuters) - India's top software services exporter Tata Consultancy Services Ltd posted a record profit for the quarter ended Sept 30, boosted by strong revenue growth across its business and setting the tone for India's IT sector results.
India Ratings maintains stable outlook on cement sector
India Ratings and Research (Ind-Ra) Thursday maintained a stable outlook on the domestic cement sector for the remaining period of this fiscal. The agency said it expects that the overall demand conditions will remain stable for the Indian cement manufacturers, considering a gradual economic growth forecast across cement end-markets, with real estate and infrastructure helping sustain volumes. In a statement, Ind-Ra said it has "maintained a stable outlook on the Indian cement manufacturers for the remainder FY 2018-19, driven by a healthy growth forecast across end-markets such as affordable housing, roads and irrigation sector, which would help in sustaining strong volumes. However, the growth in EBITDA (earnings before interest, tax, depreciation and amortization) could be partially offset by rising input costs". Over the last few quarters, cement prices have remained stagnant despite a constant increase in fuel prices, Ind-Ra noted. With modest capacity additions of 4.2 mtpa ...
Saudi Arabia opens high-speed railway to public
Saudi Arabia's new high-speed railway opened to the public on Thursday, whisking Muslim pilgrims and other travellers between Mecca and Medina, Islam's holiest cities. The Haramain High Speed Rail system will transport passengers 450 kilometres (280 miles) via the Red Sea port of Jeddah at speeds of up to 300 kilometres per hour. Two trains, each carrying 417 passengers, departed from Mecca and Medina at 8 am (0500 GMT), according to the state-run Saudi Press Agency. Two daily services are initially planned in each direction, it said. Saudi King Salman on October 25 inaugurated the high-speed railway, which local officials described as the biggest transportation project in the region. The new link will slash the travel time Mecca and Medina from several hours to 120 minutes, transport officials said. The rail project, dogged by several delays, was built at a cost of more than USD 16 billion, according to Saudi media. In 2011, Saudi Arabia signed a deal for a Spanish consortium to ...
Tata Consultancy Services consolidated net profit rises 22.71% in the September 2018 quarter
Sales rise 20.67% to Rs 36854.00 crore
Tata Consultancy Services standalone net profit rises 32.61% in the September 2018 quarter
Sales rise 28.13% to Rs 30792.00 crore
ECB's rising growth fears not enough to derail policy: minutes
FRANKFURT (Reuters) - Global trade tensions could slow euro zone growth further and European Central Bank policymakers debated last month whether to downgrade their risk assessment, minutes of their September meeting showed on Thursday.
IMF to seek 'absolute transparency' of Pakistan's debts in bailout talks
NUSA DUA, Indonesia (Reuters) - The International Monetary Fund launched formal bailout talks with Pakistan on Thursday, and IMF managing director Christine Lagarde said she would require "absolute transparency" of Pakistan's debts, including those owed to China.
TVS Motor launches updated version of its scooter Wego
TVS Motor Company Thursday launched a refreshed version of its scooter Wego priced at Rs 53,027 (ex-showroom Delhi). The new version comes with new features including a 20-litre utility box, sporty wheel-rim stickers, pass-by switch and a maintenance free battery. "At TVS Motor Company, we have brought in interventions across our product portfolio based on evolving customer requirements. TVS WEGO is inspired by the youthful lifestyle of our target audience," Aniruddha Haldar, VP (Marketing) Commuter Motorcycles, Scooters and Corporate Brand, TVS Motor Company said. The company is confident that this refreshed version of TVS Wego will resonate with the customers, he added. The 110-cc scooter comes with full metal body, advanced digital speedometer, among other features.
F&O segment turnover jumps
Nifty October 2018 futures at premium
Malaysian firm forays into India
: Malaysia-based Titanium World Technology, a player in hygiene and healthcare space, Thursday announced its foray into India through its subsidiary SmartCoat India Pvt Ltd here. The company has come out with two of its anti-microbial products - SmartCoat Nano for institutional and industrial coverage and Armor8 for personal utility of individuals. The products provide an ambience free from bacteria and viruses and are non-toxic, director of the company Heng told reporters. SmartCoat India Pvt Ltd would formally begin its operations here on October 14 and launch the products in southern states by this financial year-end, he said. When applied, SmartCoat Nano ensures safe and hygienic environment for 365 days while Armor8 can last upto 30 days, he claimed. Managing director of SmartCoat India Pvt Ltd Ramakrishna Kadiyam said the company has more products in the pipeline that would be launched in a phased manner. The company was in talks with south central railway and ...