Page 2321 - Business Finance
Lockheed hosts F-16 suppliers' meet in Bengaluru
Lockheed Martin is hosting a conference in this tech hub for industry suppliers on its flagship fighter F-16 with Tata Advanced Systems Ltd (TASL), said the American aerospace major on Tuesday.
Jet Airways clears Aug salaries of senior staff; says Sep payments will be delayed
Crisis-hit Jet Airways Tuesday paid the balance amount of salaries for the month of August to its pilots, engineers and senior management but told them that September payments would be delayed, sources said. As part of a staggered payment plan, the full service carrier was to clear the remaining 50 per cent of the August salary to these personnel on September 26. On the scheduled date, the airline could pay only half of that amount due to paucity of funds. The remaining money was to be paid on October 9, which the airline did. "We have received the remaining 25 per cent of our salary on Tuesday and with this payment, the airline has cleared our August salary dues. But it has still to disburse the September salary," a Jet Airways pilot associated with the National Aviators Guild (NAG) told PTI. Jet Airways Chief People Officer Rahul Taneja told pilots, Aircraft Maintenance Engineers (AMEs) and senior management team that it has remitted the balance of the August 2018 payroll on ...
Boeing surprises with jump in September plane deliveries
(Reuters) - Boeing Co delivered 61 of its best-selling 737 single-aisle aircraft in September, unexpectedly surging past numbers for August and suggesting manufacturing problems at suppliers may be easing.
Yes Bank promoter families look to settle differences: Sources
Two warring promoter families of Yes Bank are believed to be in talks to settle their differences and a meeting of representatives from both sides is likely on Wednesday, sources said. The tussle is between the families of Yes Bank founders -- Rana Kapoor and Ashok Kapur. After the death of Kapur, his wife Madhu Kapur wanted her daughter Shagun Kapur Gogia to be nominated on the bank's board but the proposal was rejected, following which the matter reached the Bombay High Court. Shagun Kapur Gogia and Yes Bank Senior Group President Rajat Monga -- on behalf of Rana Kapoor -- may have a meeting Wednesday, sources told PTI on Tuesday. The meeting was to happen last Friday, they added. "The promoter and founding member families are believed to be in talks to resolve the matter at the earliest, keeping behind the past, as it would be in interest of all the stakeholders as well as the 20,000 plus employees of Yes Bank," sources said. The meeting may take place this week, possibly ...
Maruti Suzuki commences field testing of proto-type electric vehicles
Automobile major Maruti Suzuki on Tuesday flagged-off proto-type Electric Vehicles (EVs) for field testing.
ZEE's 37 Live TV channels available for Jio's subscribers
Digital services provider Reliance Jio Infocomm (Jio) on Tuesday announced that an agreement has been reached with ZEE Entertainment Enterprises (ZEE) to release the media and entertainment company's entire content library on Jios platforms, with immediate effect.
Mercedes-Benz India's sales marginally down in January-September period
Luxury automobile manufacturer Mercedes-Benz India on Tuesday reported a marginal decline in its January to September 2018 sales.
With AI model TVs, LG looks to further consolidate its position
With the launch of a new range of televisions featuring Artificial Intelligence (AI), LG Electronics India is looking to further strengthen its leadership position in flat panels market.
Honda Cars India launches fifth generation CR-V
Automobile manufacturer Honda Cars India (HCIL) on Tuesday launched the fifth generation of sports utility vehicle -- CR-V -- with a diesel engine option.
DRDO's Remotely Operated Vehicle inducted in Pune police
A Remotely Operated Vehicle (ROV), designed and developed by the Defence Research and Development Organisation (DRDO), has been inducted into the Pune police on an experimental basis to help in detection and disposal of bombs, a senior official said Tuesday. The vehicle, 'Daksh', will be with the city police for the next six months and it will be used by the Bomb Detection and Disposal Squad (BDDS), Police Commissioner K Venkatesham said. "The robot will be with the Pune police for six months but if there is a need, we will think of procuring it for the police force in future," he added. Daksh has been developed at the DRDO's Research and Development Establishment (Engineers), Pune. The vehicle is capable of climbing stairs as well as negotiating cross-country terrain and has an onboard shotgun for blasting through door locks and breaking the windshield to handle likely car bombs. The electrically-powered machine is also capable of towing a suspected vehicle away from a .
Zee channels back on JioTV
Zee Entertainment has returned to Reliance Jio's digital TV platform, around two months after Subhash Chandra-led firm had pulled out of JioTV app. ZEE Entertainment Enterprises and Reliance Jio Infocomm on Tuesday announced that an agreement has been achieved to release ZEE's entire content library on Jio's platforms, with immediate effect. "We are delighted that our esteemed customers will now have access to the engaging and diverse content from Zee Group. At Jio we are committed to providing our consumers the best of content from India and the world in our quest to accelerate digital inclusion in the country," Jio Director Akash Ambani said in a statement. Zee had signed strategic partnership with Jio's competitor Bharti Airtel in August after quitting Jio's platform. Return of Zee to Jio's platform will give the broadcaster potential access to over 227 million subscribers of the 4G telecom service provider. "The expansive reach of Jio enables us to entertain a larger base of ...
Spurred by offers, online smartphone sales in India may cross $1 bn
Riding on Amazon and Flipkart festive offers, online smartphone sales in India is likely to cross $1 billion in the next five days, Counterpoint Research said on Tuesday.
Oil prices rise as Iranian crude exports fall
NEW YORK (Reuters) - Oil prices edged higher on Tuesday on growing evidence of falling Iranian crude exports before the imposition of new U.S. sanctions, as well as a partial production shutdown in the Gulf of Mexico because of Hurricane Michael.
Tech stocks prop up Wall Street amid global growth worries
(Reuters) - The S&P 500 and the Nasdaq rose for the first time in four days on Tuesday, boosted by a rebound in technology stocks, but gains were kept in check after the International Monetary Fund said the Sino-U.S. trade war would slow global growth.
Govt working on plan to raise API production to cut Chinese dependence: Comm Min report
The government is working on a road map to increase production of bulk drugs in the country with a view to reduce import dependence of the raw materials for pharma sector from China, a commerce ministry report said. Over-dependence of Indian pharma industry on imported raw materials from China to meet the growing requirements of drug formulations is a cause of concern for the industry and policy makers, it added. About 75 per cent of the active pharmaceutical ingredients (APIs) used in the formulations of National List of Essential Medicines are sourced from China. In 2017, India imported APIs worth USD 2.5 billion from the neighbouring country. "In a bid to reduce India's dependence on China for APIs, the chemicals and fertiliser ministry has joined hands with other ministries to draw a road map for increasing their production in the country. "This initiative of the government will go a long way in supporting the domestic industry with necessary emphasis on strengthening and ...
Online smartphone sales to cross $1 bn in festive sale: Counterpoint
Smartphone sales by online players like Flipkart, Amazon India and Paytm Mall are likely to cross USD 1 billion in the next five days, driven by exclusive launches, price cuts and exchange offers, research firm Counterpoint said Tuesday. The sales are likely to hit record numbers both in terms of volume and value with online channels accounting for 42 per cent of the total sales, Counterpoint said in a report. The five days of sale (October 10-15) is likely to surpass last year's entire smartphone sales during Black Friday in the US (a large scale shopping event), it added. "We believe, the e-commerce will remain one of the attractive channels growing in preference for consumers as well as brand even though offline channel still occupies a larger pie of the overall smartphone market. If we compare some of the leading sale events in China and USA such as Singles' day and Black Friday, India is quickly catching up in scale with respect to these annual events," Counterpoint Research ...
Global Markets: Stocks climb, with Wall Street lifted by tech, bond yield retreat
NEW YORK (Reuters) - Equity markets climbed in Europe and the United States, with Wall Street buoyed by a rebound in technology shares off two-month lows and as long-dated U.S. Treasury yields pulled back from multi-year highs.
SBI's loan portfolio buys to provide liquidity to NBFCs: Official
The State Bank of India (SBI)'s decision to buy Rs 45,000 crore worth asset portfolios from non-banking financial companies (NBFC) will provide them the much-needed liquidity, a top Finance Ministry official said on Tuesday.
Pakistan's currency plunges as it seeks IMF loan Pakistan's currency plunges as it seeks IMF loan
Pakistan's currency plunged by about 7 percent on Tuesday after the government said it would seek emergency bailout loans from the International Monetary Fund. The Pakistani rupee briefly weakened to 138 to the dollar on Tuesday before settling at 133.6. The rupee was trading at 124.3 at close of business Monday, before the announcement was made. A Pakistani delegation will meet with IMF officials in Indonesia later this week. After a visit last week, the IMF said Pakistan is facing significant economic challenges, with diminishing growth, high fiscal and current account deficits, and low foreign exchange reserves. Pakistan is also seeking fresh loans from China, which is already heavily invested in its transport and energy sectors.
President to inaugurate AG conference Wednesday
President Ram Nath Kovind will inaugurate the two-day conference of Accountants General organised by the Comptroller and Auditor General of India here Wednesday. The Accountants General from all over the country will participate in the two-day conference and will deliberate on adopting most modern audit techniques to further improve audit effectiveness and enhance accountability in public spending, an official statement said. The conference will also be attended by Lok Sabha Speaker Sumitra Mahajan, Public Accounts Committee Chairman Mallikarjun Kharge and CAG of India, Rajiv Mehrishi. On the second day of the conference, Finance Minister Arun Jaitley will address the officers. The overarching theme for the conference is 'Auditing and Accounting in a digital era', the statement said. They will deliberate upon four brain storming sessions on Audit Planning, audit execution and accounting in a digital environment, among others, it said. "In order to keep pace with this dynamic ...