Page 2340 - Business Finance
GMR Infrastructure settles with Private Equity investors at Airport business
Pursuant to the settlement agreement, all parties decided to withdraw the ongoing arbitration and pursuant to binding agreements giving effect to the terms of the settlement the Investors (along with certain of their affiliates) would acquire 5.86% equity of GAL at a 100% valuation of Rs.21000 crore and receive a payment of Rs.3560 crore in lieu of their entire CCPS.
AAVAS Financiers to list today
AAVAS Financiers debuts on the secondary equity market today, 8 October 2018. The company had priced the initial public offer (IPO) at the top end of the Rs 818 to Rs 821 per share price band for the IPO. The IPO closed on 27 September 2018. It was subscribed 0.97 times, with total bids for 1.44 crore shares, compared with 1.47 crore equity shares on offer.
Investors may extend selling due to negative global cues
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 24 points at the opening bell on negative global cues.
China stocks tumble despite central bank's move to support economy
SHANGHAI (Reuters) - China's stocks fell sharply on Monday despite Beijing's weekend announcement that it will slash the level of cash that banks must hold as reserves, a sign of underlying investor anxiety over a heated Sino-U.S. trade war.
Global Markets - Asian shares fall as China set to reopen after Beijing eases policy
SHANGHAI (Reuters) - Shares in Asia stumbled in early trade on Monday as investors waited with bated breath as China's markets prepare to reopen following a week-long holiday and after its central bank cut banks' reserve requirements in a bid to support growth. MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> was down 0.3 percent, after major stock markets around the world fell for a second straight day on Friday.
China services sector expands in Sept, but costs up and employment shrinks - Caixin PMI
(Reuters) - China's services sector grew at its fastest clip in three months in September on improved demand, a private survey showed on Monday, though sentiment worsened as firms started shedding jobs after over two years of expansion while rising cost pressures pointed to a squeeze on profit margins.
Singapore Property Prices Inch Up Despite Government Measures
Singapore, Oct 8 (ANI): The highly anticipated flash estimate for the 3rd Quarter 2018 published on October 1 showed that private residential property prices in Singapore creeped up 0.5% compared with the 2nd Quarter.The data released by the Urban Redevelopment Authority (URA) of Singapore revealed that the overall private residential property index increased 0.7 points from 149.0 points in 2nd Quarter to 149.7 points in 3rd Quarter 2018. This represents an increase of 0.5 per cent, compared to the 3.4 per cent increase in the previous quarter.Non-landed property (apartments and condominiums) in the Core Central Region (CCR) registered the highest increase of 1.2 per cent. CCR comprises premium residential areas including the central business district, Sentosa, Orchard Road, River Valley, Tanglin, Newton, Holland Road and Bukit Timah.The increase in prices in the CCR was 0.9 per cent in the 2nd Quarter when compared with the first.However, real estate prices in Rest of Central Region
Fuel prices hiked yet again
Fuel prices continued to surge on Monday, with petrol and diesel prices being hiked by 21 paise and 29 paise respectively.In the national capital, petrol is priced at Rs 82.03 per litre, while diesel rates have now escalated to Rs 73.82 following the revision.In Mumbai, petrol and diesel rates were hiked by 21 paise and 31 paise each. Petrol is retailed at Rs 87.50 and diesel is sold at Rs 77.37.On September 4, Jaitley had announced a cut of Rs 2.50 per litre on both petrol and diesel prices and directed the state governments to implement the same.
Exclusive: Large private equity consortium forms for Arconic bid - sources
(Reuters) - Blackstone Group LP, Carlyle Group LP, Onex Corp and Canada Pension Plan Investment Board have joined forces in a bid to acquire aluminum products maker Arconic Inc, according to people familiar with the matter.
Piyush Goyal advises states to boost tourism sector to attract investors
Railways Minister Piyush Goyal on Sunday suggested all state administrations to build good infrastructure around tourist attractions to "attract investments in the tourism sector".Addressing the Uttarakhand Investors Summit in Dehradun, the Union Minister said that tourism is the key business attraction of every state. "There is need to build infrastructure around tourism services to attract investment. There can be nothing better than infrastructure built around a central theme that comes naturally to every citizen of Uttarakhand. This is where tourism comes in," he said.Goyal said, "Despite being the very first summit, we have already received investment proposals worth over Rs 75,000 crore. For the state the size of Uttarakhand, this is very significant. I was immensely pleased to hear that a state with barely one crore population has Gross Domestic Product (GDP) upwards of Rs 2.15 lakh crore last year, and a per capita income of Rs 1,70,000. This is truly remarkable for a small ...
Par panel questions top managements of private airlines over spike in excess luggage charge
A parliamentary panel has questioned the top managements of all major private airlines in the country over an "exorbitant rise" in the excess luggage charge and asked them to submit a report comparing their fees with those of their foreign counterparts. During a meeting recently, the members of the Parliamentary Standing Committee on Transport, Tourism and Culture, suggested the government draft a comprehensive policy on baggage charges and that the airlines should not be allowed to set the free-of-cost luggage carry limit. All private airlines allow only up to 15 kgs of luggage on domestic flights free of cost, while the state-owned Air India allows up to 25 kgs. The panel called the top managements of all major private airlines -- Indigo, Jet Airways, SpiceJet, Air Asia and Vistara -- to brief the members over their recent decision to hike baggage charges and also dynamic pricing of air tickets. Some private airlines recently increased the excess baggage charges by 33 per cent, a ...
China slashes banks' reserve requirements as trade war imperils growth
BEIJING (Reuters) - China's central bank on Sunday announced a steep cut in the level of cash that banks must hold as reserves, stepping up moves to lower financing costs and spur growth amid concerns over the economic drag from an escalating trade dispute with the United States.
IndiGo systems down for over 1 hour
The systems of IndiGo were down for one and a half hours across airports Sunday. IndiGo is the country's largest airline by market share and operates an average of over 1,000 flights per day. "We regret the inconvenience caused to our passengers this afternoon due to system being down across airports for around ninety minutes," an airline spokesperson said. Flights and check-in systems are operating normally now, the spokesperson added.
Punjab govt notifies Divisional Agriculture Debt Settlement Forums
The Punjab government has notified the Divisional Agriculture Debt Settlement Forums as a step towards streamlining the process of money lending to farmers. To be headed by divisional commissioners, the forums will carry out the purposes of The Punjab Settlement of Agricultural Indebtedness (Amendment) Act, 2018 within the territorial jurisdiction of such divisions, an official release said here on Sunday. "The amended law addresses the infirmities and technical flaws in The Punjab Settlement of Agricultural Indebtedness Act, 2016. "The old legislation was highly detrimental to the interests of the farmers, necessitating the amendments. The new law will go a long way in mitigating the hardships faced by the farmers on account of money lending," it said. With the issuance of this notification, the divisional commissioners have been appointed as chairmen, while two representatives, one each from the revenue and the agriculture departments, will be nominated as ex-officio members by way .
Growth in India firming up, projected to accelerate further, says World Bank
Growth in India is firming up and projected to accelerate to 7.3 per cent in the 2018-19 fiscal and 7.5 per cent in the next two years, the World Bank said Sunday. The global lender said that the Indian economy appears to have recovered from the temporary disruptions caused by demonetisation and the introduction of the Goods and Services Tax (GST). However, domestic risks and a less benign external environment impact the macro-economic outlook, it said. Growth reached 6.7 per cent in fiscal year 2017/18, with a significant acceleration in recent months, it said. "Prompted by the adoption of the 'Goods and Services Tax' (GST) and the recapitalisation of banks, growth in India is firming up and it is projected to accelerate further," the World bank said in its latest report on South Asia. Growth in India, it said, is expected to rise to 7.3 per cent in fiscal year 2018/19, and to 7.5 per cent in the following two years, with stronger private spending and export growth as the key ...
After excise cut, fuel prices again on upswing
Petrol and diesel prices witnessed an increase across the four metro cities on Sunday, two days after the government announced an excise duty cut on the fuel to give relief to the common man.
Investors Summit: Rawat urges biz leaders to invest in Uttarakhand
Uttarakhand Chief Minister Trivendra Singh Rawat Sunday urged business leaders to invest in the state, saying the government and investors will be partners in its development and prosperity. "I assure you that ours will not be the usual government-investor relationship. We shall be partners in the development and prosperity of the state," Rawat said at the inaugural session of thetwo day investors summit here in the presence of Prime Minister Narendra Modi. This summit is being held to present Uttarakhand's view on issues like economic development, employment generation, balanced regional and inclusive growth, Rawat said. Highlighting the steps taken by the state government to promote investment, he said, ten new policies have been approved in just one month. These policies incorporate suggestions made by investors and business leaders during roadshows held in different metropolises in the run-up to the event. A sound law and order scenario, cheap availability of power, top position ..
Flipkart to insure mobiles bought on its e-platform
Leading e-tailer Flipkart on Sunday said it had tied up with Bajaj Allianz General Insurance to offer insurance to products like mobiles bought on its online shopping platform from October 10.
OYO Hotels to invest Rs 500 cr in Uttarakhand to build hospitality ecosystem
Hospitality firm OYO Sunday said the company will invest Rs 500 crore in building hospitality ecosystem in Uttarakhand to boost the tourism potential of the state. The Hospitality firm in a statement further said it has signed a memorandum of understanding (MoU) with Uttarakhand government and it will be expanding its chain in the region by adding over 35,000 rooms in cities, including Dehradun, Mussoorie, Rishikesh, Haridwar, Haldwani, Kashipur, Nainital, Mukteshwar, Bhawali, Bhimtal, Roorkee, Almora, Lansdowne, Binsar and Ranikhet.
CAIT urges govt to bring Act on predatory pricing
Traders' body CAIT Sunday urged the government to bring an Anti-Predatory Pricing Act to regulate and monitor e-commerce business in India. The trader's body further said that various discounts being offered by e-commerce retailers in their respective different festival sales are nothing but predatory pricing adopted by these sellers. It shows that instead of B2B they are indulged into B2C sales, which they are not allowed to do and is contrary to FDI policy of the government, the Confederation of All India Traders said. It is high time that government should bring an Anti Predatory Pricing Act to check such menace of e-retailers, the trader's body demanded.