Page 2515 - Business Finance
India Set To Become 3rd largest Consumer Market In World By 2025
The Vice President of India, M. Venkaiah Naidu has said that the ambitious, transformative vision that is making India one of the most favourite investment destinations in the word. He was addressing the India-Malta Business Forum in the presence of the President of Malta, Marie-Louise Coleiro Preca, organized by the Malta Chamber of Commerce and the Confederation of Indian Industry, at Valletta, Malta.
Market trades with small losses
The market was trading with small losses in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, was down 36.84 points or 0.10% at 37,548.67. The Nifty 50 index was down 18.20 points or 0.16% at 11,359.55. Sentiment across the globe was negative amid growing trade tensions between the US and China.
Global Markets: Shares shrug as Trump fires off tariffs on $200 billion of Chinese goods
LONDON (Reuters) - Who's afraid of the big bad trade war? Not world stock markets it seems.
South African fintech JUMO to expand in Asia with Goldman Sachs backing
JOHANNESBURG (Reuters) - South Africa-based financial technology firm JUMO plans to expand in high-growth Asian markets after securing the backing of Goldman Sachs in an equity funding round, the company's chief executive said.
Need to blend subsidy with investment to enhance agri sector growth: Jaitley
Finance Minister Arun Jaitley Tuesday made a case for blending subsidy with investment to augment farm sector growth and make it sustainable and self-sufficient. He also said formalisation of the economy has started showing visible result in terms of higher resource mobilisation, leaving more in the hands of the government for the capital formation in various sector. "There is lot of formalisation of economy taking place in several other sectors... We can see visible results, and it is leading to additional resources in the hands of the government. I don't think this process will now be reversed," he said. As India moves into the situation where governments have more resources, the ability to spend on sectors, which needs maximum support, will obviously rise, he said after releasing a book titled Supporting Indian Farms the Smart Way. Important areas which require investment include physical infrastructure, social sector and farm sector, he said. "As resources grow, the capital and ...
Anthill Ventures, HCG launch programme for HealthTech start-ups
Anthill Ventures, an investment and scaling platform for early growth stage start-ups, on Tuesday announced its partnership with HealthCare Global Enterprises Ltd. (HCG), the largest provider of cancer care in India, to launch a market access programme for HealthTech start-ups.
Portfolio managers' assets swell by 12% to Rs 14.8 lakh cr till Aug-end
The total assets handled by portfolio managers surged by 12 per cent to Rs 14.8 lakh crore at the end of August, mainly on the back of increase in number of clients. A portfolio manager is a person or group that advises or directs or undertakes on behalf of a client, the management of a portfolio of securities or the funds of the client. According to data available with the market regulator Sebi, total assets under management (AUM) of portfolio managers were at Rs 14.79 lakh crore at the end of last month against Rs 13.24 lakh crore in August-end last year, registering a gain of Rs 1.55 lakh crore or 12 per cent. In July this year, the asset base of portfolio managers stood at Rs 14.71 lakh crore. Besides, the number of clients rose to 1,34,068 from 95,946 during the period under review. Portfolio managers handled assets worth Rs 12.08 lakh crore for discretionary services, besides Rs 1.91 lakh crore for advisory services and over another Rs 97,000 crore for non-discretionary ...
Japan Nikkei rebounds 1.41%
Abe, who returned to office in December 2012 pledging to bolster defences and reboot the economy, is widely expected to defeat his rival, former defence minister Shigeru Ishiba, for leadership of the LDP.
Australia Market falls after latest US tariff move
Shares of materials and resources tanked, with BHP Billiton was declining more than 1%, Rio Tinto was down 0.4% and Fortescue Metals fell 0.2%.
Tata Sky, Skyworth Digital to partner on the next generation set-top box for India
Skyworth Digital, the world's largest ODM for set-top-boxes has been selected by Tata Sky to supply its newest DVB-S2 set-top box.Skyworth Digital continues to develop its network of strategic technology partners throughout the pay-tv ecosystem, to enable operators to not only reduce the time-to-market to launch leading-edge solutions, but to simplify their delivery too, with pre-integrated and pre-certified products."We believe in working with the best in the industry as we owe that to our subscribers. Skyworth has been working successfully in this field with growing reliability and innovations. We look forward to this partnership, to continue bringing high quality devices to our subscribers, making consuming content a delightful experience," said Chief Technology Officer, Tata Sky, Yigs Riza."Thanks to Tata Sky's trust, we are honored to be their partner. Skyworth have been delivering set-top box and broadband products to India for over ten years, and have established significant ...
Weak global cues keep equity indices flat; banking stocks fall
Amid choppy trade, the key Indian equity indices traded on a flat note during the afternoon session of the trade on Tuesday after global markets reacted negatively to reports of fresh US tariffs announced on Chinese imports.
Gur prices rise on brisk demand, thin supply
Gur prices advanced by Rs 100 per quintal at the wholesale gur (jaggery) market in the national capital Tuesday on paucity of stocks against thin supplies. Moreover, rising sugar prices also influenced the trend, they added. Muzaffarnagar and Muradnagar gur markets also exhibited a similar trend, with prices spurting by Rs 150 per quintal on tight stocks position. Marketmen said, speculative buying triggered by low stocks position, lifted gur prices higher. In Delhi, gur Chakku, Pedi, Dhayya and Shakkar prices rose by Rs 100 each to conclude at Rs 3,400-3,500, Rs 3,700-3,800, Rs 3,800-3,900 and Rs 3,900-4,000 per quintal, respectively. At Muzaffarnagar, gur Chakku shot up by Rs 150 to finish the day at Rs 3,000-3,150 per quintal. In Muradnagar, gur Pedi prices enquired higher by Rs 100 to windup at Rs 3,350-3,400 per quintal. Following are today's rates (in Rs per quintal): Gur chakku Rs 3,400-3,500, pedi Rs 3,700-3,800, dhayya Rs 3,800-3,900 and shakkar Rs ...
Avis India announces free doorstep delivery, collection of self-drive cars
Underlining its commitment to providing safe, reliable, and comfortable transportation solutions, Avis India has announced free car delivery and collection.The announcement is in line with the evolution of the self-drive car rental space in India which is becoming increasingly organised to facilitate hassle-free access to a car without owning it in principle.Availing free delivery and collection of self-drive cars means customers need not worry about peak hour rush in various modes of public transportation as well as about the long-term hassles that come with owning one's own vehicle - traffic congestions, limited parking spaces, monotony, maintenance costs etc.Additionally, one saves on both cost and time as they can get the car delivered to and picked up from their doorstep without the inconvenience caused by traffic jams, monsoon rains and unprecedented hurdles on the route to picking up and delivering the rented car."Our free doorstep delivery and pickup service for self-drive ...
RCom to exit telecom fully to focus on realty: Ambani
Billionaire Anil Ambani Tuesday announced that the cash-strapped Reliance Communications will be completely exiting the telecom business to concentrate on real estate in future. The first priority for RCom, which is credited for democratising telecom services through cheaper offers in early 2000s, is to resolve its over Rs 40,000 crore debt, he told shareholders at the company's 14th annual general meeting here. "We have decided that we will not proceed in this sector. And many other companies have taken a similar call. This is very much a writing on the wall, the future... "As we have moved out of the mobile sector, we will monetise at an appropriate stage our enterprise business. Reliance Realty will be the engine of growth for the future of this company," Ambani said. Pointing out to the 133-acre Dhirubhai Ambani Knowledge City (DAKC) on the outskirts of the financial capital, he said there is huge realty play opportunity that RCom's erstwhile corporate headquarters possesses, and .
Sugar prices end quiet on adequate stock
Sugar prices settled quiet at the wholesale market in the national capital Tuesday on sporadic demand against the adequate stocks. Marketmen said pick up in supplies from mills after yesterday's sharp rise of over Rs 300 per quintal to meet current demand amid scattered offtake by stockists and bulk consumers kept sweetener's prices flat. Following are today's quotations (in Rs per quintal) Sugar retail markets - Rs 37-43 per kg. Sugar ready: M-30 Rs 3,600-3,800, S-30 Rs 3,590-3,790. Mill delivery: M-30 Rs 3,310-3,600, S-30 Rs 3,300-3,590. Sugar millgate (including duty): Mawana Rs 3,420, Kinnoni Rs 3,600, Asmoli Rs 3,560, Dorala Rs 3,410, Budhana Rs 3,400, Thanabhavan Rs 3,390, Dhanora Rs 3,580, Simbholi Rs 3,570, Khatuli Rs 3,590, Dhampur 3,320, Sakoti 3,280, Modinagar 3,320, Shamli 3,310, Malakpur Rs 3,320, Ramala NA (not available), Anupshaher NA, Baghpat NA, Morna NA, Chandpur NA, Nazibabad NA and Nanota NA.
China says it will retaliate after Trump imposes fresh tariffs
WASHINGTON/TIANJIN, China (Reuters) - China said on Tuesday it has no choice but to retaliate against new U.S. trade tariffs, risking even stronger action from President Donald Trump in an escalation of the trade war between the world's largest economies.
U.S. gives rare earths reprieve in revised $200 bln China tariff list
BEIJING (Reuters) - The United States did not include rare earth elements, metals used in magnets, radars and consumer electronics, in its final list of tariffs on $200 billion of Chinese goods, underscoring its reliance on China for the strategic minerals.
Capgemini, AWS launch initiative to help enterprises go digital
French technology services major Capgemini and Cloud provider Amazon Web Services (AWS) on Tuesday announced a strategic initiative to accelerate enterprise digital transformation via Cloud technologies.
Cargill India's Gemini brand forays into rice bran oil segment
Cargill India Tuesday announced foray into the rice bran oil segment through its Gemini brand, and said it is looking to grab 10 per cent market share in the segment in Maharashtra within one year. The company expects the new segment to contribute 2.5-3 per cent to its overall revenue. "Health oil is an emerging segment. As our biggest market for Gemini is Maharashtra, we will initially launch in the state, as well as Karnataka," Milind Pingle, director, sales and marketing, Cargill food business - India, told PTI. "We expect to achieve 10 per cent market share in Maharashtra in one year in the rice bran oil segment," he added. The company will source rice bran oil from a third party in Dhuri in Punjab, according to Pingle. The total rice bran market in the country is one lakh tonne annually, while the total market in Maharashtra is 20,000 tonne per year, he said. Gemini, which is in consumer brands of edible oils such as NatureFresh, Gemini, Sweekar, Leonardo Olive Oil, .
Oracle reports $9.2 bn revenue in its fiscal first quarter
Cloud major Oracle has reported a revenue of $9.2 billion for its fiscal first quarter (Q1 2019) -- up from $9.1 billion in the same period last year.