Page 2343 - Business Finance
More steps likely to cut current account deficit: Jaitley
With current account deficit (CAD) still remaining a concern, Finance Minister Arun Jaitley on Saturday hinted at more steps to rein in the problem.
Some more steps on the anvil to narrow CAD, says Jaitley
Asserting that the government is determined to meet the fiscal deficit target, Finance Minister Arun Jaitley Saturday said some more steps are on the anvil to narrow the current account deficit (CAD) and bolster forex inflows. Speaking at the HT Leadership Summit here, he said India will continue to be the leading destination of foreign direct investment despite the adverse global situation. However, he said, there could be some transient problem in foreign portfolio investment but these would not continue depending on the global situation. The finance minister said maintaining fiscal prudence is one of the top priorities of this government. "One of the top priorities was and I do believe in that maintaining fiscal prudence always helps and you can afford to take liberties only when fiscal position is strong and not otherwise," he said. "Gradually on fiscal deficit we had glide down from 4.6 per cent we are now targeting 3.3 per cent (of GDP) this year and I am quite certain with the .
Vardhman Special Steels allots 1.35 crore equity shares
Under rights issue
Board of Kuantum Papers approves raising Rs 100 crore through QIP of NCDs
At meeting held on 06 October 2018
Centre uses banks to violate states' space: Ex-RBI Governor
The Central government uses banks as a weapon to penetrate into jurisdiction of states, said former Reserve Bank of India (RBI) Governor Y.V. Reddy on Saturday.
Sowparnika introduces homes at 'Zero Cost' for the buyers
Sowparnika Projects and Infrastructure Pvt. Ltd., a leading real estate company, has announced zero cost homes, where they would be offering home units at no cost. The homes could now be purchased absolutely free of cost with minimal or no initial investment.The campaign, by the sensibly priced real estate company, will help encourage homebuyers, especially first timer, to take a step towards fulfilling their dream of purchasing homes at no cost.A homebuyer pays a five percent initial down payment, after which Sowparnika will bear the remaining costs involved through PRE- EMI scheme, while also returning the down payment to the homebuyer. Once the keys are handed over to the buyer, he can pay the balance 5% (5:90:5 loan scheme) money to the company 3 months after taking possession. After possession, the customer can stay in the apartment for three months and then pay out the balance or rent out and pay the balance with the rent amount accumulated.This campaign helps the homebuyer reap
Board of Ador Multi Products allots 6.64 lakh equity shares
At meeting held on 06 October 2018
India may be forced to delay Axis Bank stake sale: ET
NEW DELHI (Reuters) - India may be forced to delay selling its stake in Axis Bank Ltd because of a weak stock market, The Economic Times newspaper reported on Saturday, citing unnamed market sources and an investment banker aware of the development.
The first Indo French Business Awards, IN2FRANCE Investment event to be held in India
H.E. Alexandre Ziegler, Ambassador of France to India will be hosting the maiden edition of the Indo-French Business(IFB) Awards and the IN2FRANCE event.Co-organised by the Indo-French Chamber of Commerce and Industry (IFCCI) and Business France, the French Trade and Investment Commission in India, the occasion will bring together top officials and delegates from the Indo-French business community.The IFB Awards will honor the outstanding accomplishments of Indian and French companies based out of India, while IN2FRANCE will promote France as an attractive investment destination for Indian companies.The evening will also see the felicitation of young and high-performing French professionals through the VIE Awards ceremony.Looking ahead to the event, H.E. Alexandre Ziegler, Ambassador of France to India, said: "I am delighted at the prospect of unveiling the first edition of the Indo-French Business Awards 2018 and the IN2FRANCE brand.France provides excellent opportunities to Indian ..
Poorvika Mobiles sets up first outlet in Kerala
Mobile phone retailer Poorvika Mobiles Saturday set up its first outlet in Kerala at Thiruvananthapuram as part of its expansion drive in South India. The city-based company opened its first retail outlet at Chakkai Enchakkal Bypass Road at Chakkai in Thiruvananthapuram, a press release said. The outlet was formally inaugurated by company CEO, N Uvaraj along with senior company officials. Poorvika Mobiles currently has around 300 outlets in 65 cities across Tamil Nadu, Karnataka and Puducherry, the release added.
Worried Zimbabweans fill up cars and stockpile goods, bank sees improvement soon
HARARE (Reuters) - Zimbabwe's central bank governor sought to reassure the public on Saturday as people again formed long queues to fill up their cars in the capital, with others panic-buying basic goods like cooking oil and sugar.
Innovation&Entrepreneurship Development Center summit on Nov 7
Aspiring entrepreneurs are set to congregate under one roof for the Innovation and Entrepreneurship Development Center (IEDC) summit in November, one of Asias biggest gatherings of startup aspirants looking to convert ideas into market-fit products. Conceived as a bridge for budding entrepreneurs to bridge the gap between ideation and execution, the meet will serve as a miniature incubator to enable them to walk in with an idea and walk out with a product, an IEDC release said. To be held at the Amal Jyothi College of Engineering, Kanjirapally in Kottayam district on November 3, the third edition of the summit is a one-of-its-kind initiative planned with the objective of accelerating aspiring entrepreneurs. As many as 4,000 participants from 210 colleges are expected to attend the event. The meet will also witness introduction of future masters of technology startups to the panel of senior and seasoned businessmen, besides exploring professional networking possibilities,
PNB Housing Finance raises USD 200 mn via ECB
Mortgage lender PNB Housing Finance Saturday said it has raised USD 200 million (about Rs 1,470 crore) through External Commercial Borrowing (ECB), its first under the automatic route of the RBI. This year, the Reserve Bank of India has allowed housing finance companies to borrow through ECB up to USD 750 million annually under the automatic route, the company said in a statement. The funds will be used for normal business operations. "This will not only enhance our liquidity profile but also further enhance our ALM position as the facility is for 5 years. The fully hedged landed cost of this facility is lower than on shore pricing of similar tenure loan," it added.
Oil, rupee unleash bears, mow down equities (Market Review)
A free-fall in rupee value coupled with high crude oil prices, along with a massive outflow of foreign funds, dragged the key domestic equity indices lower for the fifth consecutive week.
Sexual harassment claims up by 12% in US: Report
New federal data indicates that sexual harassment claims have increased 12 per cent year-over-year following the revelations about disgraced former movie producer Harvey Weinstein.
In haste to go Dutch, Unilever miscalculated concerns in Brexit-bound UK
LONDON (Reuters) - Unilever and its CEO Paul Polman have a reputation for valuing all stakeholders rather than just shareholders, boosting their corporate governance reputation, but when it came to its planned headquarters move away from London that got it into trouble.
Corrected: In haste to go Dutch, Unilever miscalculated concerns in Brexit-bound UK
By Simon Jessop and Martinne Geller
Fuel under GST to affect states' revenue: Chief Ministers
Opposing the idea of bringing fuel products under the Goods and Services Tax (GST), three Chief Ministers from different political parties on Saturday said it would have a negative impact on their revenue collection.
Jaitley accuses opposition of hypocrisy on oil prices
Attacking the opposition parties over their stance on the high oil prices, Finance Minister Arun Jaitley on Saturday accused Congress President Rahul Gandhi and his "reluctant allies" of only committing to tweets and media statements on the issue while looking the other way when it came to giving relief to people.
Gold, silver maintain upward trend on global cues, jewellers' buying
Riding on positive global cues and pick-up in buying by local jewellers, gold continued its upward journey with prices spurting by Rs 350 to Rs 31,900 per kg at the bullion market during the week. Silver followed suit and recorded notable gains backed by increased offtake by industrial units and coin makers. Market was closed on Tuesday on account of 'Gandhi Jayanti'. Bullion traders said sentiments were upbeat on positive global cues, as demand picked up after the US and Canada reached an agreement to salvage a North American free trade deal. Besides, the rupee collapsing to a fresh life-time low of 74.23 against the dollar (intra-day), making imports costlier, too supported the upside in gold prices, they added. Globally, gold ended the week higher at USD 1,202.70 an ounce and silver at USD 14.63 an ounce in New York. Increased buying by local jewellers at domestic spot market too supported the upmove. In the national capital, gold of 99.9 and 99.5 per cent purity after commencing ..