Page 2535 - Business Finance
Voto to debut in India, eyes 2% market share
Chinese handset maker Voto Mobiles on Saturday said that it is planning its debut in the Indian smartphone market and aiming for at least two per cent of market share.
Wipro and Mercury Network to jointly offer loan appraisal management platform
In financial services space
Sugar prices close quiet on small demand
The wholesale sugar market ended steady in the national capital today with prices by and large ending at previous levels on limited deals. Marketmen said small buying support and restricted supplies managed to hold sweetener prices at yesterday's closing levels. Following are today's quotations (in Rs per quintal) Sugar retail markets - Rs 35-41 per kg. Sugar ready: M-30 Rs 3,400-3,600, S-30 Rs 3,390-3,590. Mill delivery: M-30 Rs 3,150-3,330, S-30 Rs 3,140-3,320. Sugar millgate (including duty): Mawana Rs 3,185, Kinnoni Rs 3,330, Asmoli Rs 3,300, Dorala Rs 3,180, Budhana Rs 3,175, Thanabhavan Rs 3,170, Dhanora Rs 3,260, Simbholi Rs 3,250, Khatuli Rs 3,300, Dhampur 3,150, Sakoti 3,150, Modinagar 3,170, Shamli 3,150, Malakpur Rs 3,160, Ramala NA (not available), Anupshaher NA, Baghpat NA, Morna NA, Chandpur NA, Nazibabad NA and Nanota NA.
Sterlite Technologies plans to double its optical fibre cabling capacity
Board approves capex of Rs 320 crore for expansion
Edible oils extend gains on firm demand, tight supply
Edible oil prices rose for yet another week at the wholesale oils and oilseeds market on the back of soaring demand from vanaspati millers and retailers against paucity of stocks. Castor oils in the non-edible section also advanced on increased offtake by consuming industries. Traders said increased offtake by vanaspati millers due to pick up in demand from retailers and tight stocks positions on fall in supplies from producing regions mainly kept edible oil prices higher. Meanwhile, India's import of cooking oils jumped 11 per cent to 15.12 lakh tonnes in August this year inspite of rupee depreciation as supplies dried up because of lesser shipments in previous months and improved parity in import of palm oil products, industry body SEA said Friday. India, the world's leading cooking oil buyer, had purchased 13.61 lakh tonnes of edible and non-edible oils from the global market in the same month last year. In the national capital, Groundnut mill delivery (Gujarat) oil rose by Rs 100 .
Greece to ease capital controls 'very soon': finance minster
ATHENS (Reuters) - Greece plans to further loosen capital controls soon and is on track to lift all restrictions imposed three years ago, its finance minister said on Saturday.
From October, AMC to levy 'user charge' for garbage collection
Starting October, the BJP-ruled Ahmedabad Municipal Corporation (AMC) will start levying 'user charge' ranging from 50 paise to Rs 2 from households and commercial establishments for the door-to-door collection of garbage. The proposal to levy this user charge, which is in addition to the municipal tax, was approved Friday during a meeting of the standing committee of the AMC, said Amul Bhatt, chairman of the committee. While the opposition Congress had earlier alleged that such a charge would defeat the purpose of 'Swachh Bharat Mission', Bhatt claimed it would actually complement it. As per the finalised rate chart, owner of a 30 sq metre house or less have to shell out 50 paise, while other households need to pay Rs 1 per day to get their garbage collected from their doorstep. All the commercial establishments need to pay Rs 2 per day towards the 'user charges', Bhatt said adding that its implementation will start from October 1. "AMC had started the door-to-door ...
Wealth Cafe reaches finals of annual Intuit contest
Intuit Inc. announced India-based Wealth Cafe Business Advisors Pvt Ltd as a finalist in its annual Intuit QuickBooks Global Firm of the Future contest, which seeks to find bookkeeping, full-service accounting and tax firms, who best embrace online technologies to grow their practices and help their small business clients succeed and prosper.The Firm of the Future contest, now in its fourth year, invited bookkeeping, full-service accounting and tax firms in Australia, Canada, the United Kingdom, the United States and, for the first time, India to showcase how they see the value of the cloud, serve as a trusted advisor to their clients, and grow their practice with modern marketing techniques.This year, firms were also asked to include a story of how they helped a small business client overcome a challenge and achieve success. Participating firms and the small business clients named in their submissions were entered for the chance at over Rs 97 lakh in prizes."We are delighted to ...
Insight: How JPMorgan's CFO became the top prospect to succeed Dimon
NEW YORK (Reuters) - As a single mother with a British accent who loves numbers, Marianne Lake bears little resemblance to Jamie Dimon, the longtime chief executive of JPMorgan Chase & Co, known for his bravado, quips and occasional profanity-laced outbursts.
Australia's new treasurer to get tough on financial regulator
MELBOURNE (Reuters) - Australia's new federal treasurer, Josh Frydenberg, criticised the conduct of the corporate regulator and promised it powers to speed up compensation for mistreated customers.
Growth in Chinese home prices accelerates to two-year high
BEIJING (Reuters) - China's home prices accelerated in August at the fastest pace in nearly two years, a sign that Beijing's efforts to boost a slowing economy may once again be heating up frothy real estate markets.
Hong Kong Market surges 1%
The top gainer on Hang Seng was AAC Technologies Holdings Inc , up 5.51%, while the biggest loser was China Petroleum & Chemical Corp, which was down 1.82%.
China Market drops 0.2%
CURRENCY NEWS: China's yuan depreciated against the U.S. dollar on Friday, despite firmer mid-point fixing by People Bank of China. Prior to market opening on Friday, the People's Bank of China set the yuan's midpoint rate at 6.8362 per dollar, 126 pips or 0.18 percent firmer than the previous fix of 6.8488. In the spot market, the onshore yuan opened at 6.8481 per dollar and was changing hands at 6.8538 at midday, 175 pips weaker than the previous late session close and 0.26 percent softer than the midpoint.
Australia Market bounces on bottom fishing
Shares of materials and resources were higher, thanks to a surge in Dalian iron ore futures. BHP Billiton was 1.6% higher at A$31.82, while Rio Tinto was up 1.2% to A$73.15.
No respite from soaring fuel prices
Fuel prices have yet again witnessed a hike on Saturday, with petrol and diesel breaching earlier figures to touch new record highs.In New Delhi, petrol is being sold 35 paise higher at Rs 81.63 per litre, while the price of diesel has been hiked by 24 paise to Rs 73.54 per litre.Mumbai continues to be the worst affected by rising fuel prices, with petrol retailing at a staggering Rs 89.01 per litre and diesel at Rs 78.07 per litre.The union government has been facing flak in the past few weeks for not implementing stringent measures to curb prices.Earlier this week, the Congress Party and 21 other regional and national parties observed a 'Bharat Bandh' on account of the consistent rise in fuel prices and urged the government to take necessary steps to reduce citizens' woes.However, the Centre has maintained that external factors, including a rise in international crude oil prices, are influencing domestic fuel prices.
India's export in April-August gone upto to be USD 221.83 Bn
India's overall exports (Merchandise and Services combined) from April to August 2018-2019 witnessed a positive growth of 20.70 per cent, over the same period last year. The total amount this year has gone upto to be USD 221.83 Billion.While the overall import of the April-August 2018-2019 is estimated to be USD 269.54 Billion, exhibiting a positive growth of 21.01 per cent over the same period last year.Exports in merchandise in August 2018 were estimated to be USD 27.84 Billion, as compared to USD 23.36 Billion in August 2017. The major commodity groups of export showing positive growth over the corresponding month of last year are engineering goods, Petroleum products, Gems and Jewellery and others.Oil imports in April-August 2018-19 were USD 58.81 Billion which was 53.55 per cent higher in Dollar terms compared to USD 38.30 Billion over the same period last year.
Oil mixed as China tariff talk scotches early rally
NEW YORK (Reuters) - Oil prices pulled back on Friday on concerns additional U.S. tariffs would be placed on Chinese imports, after an earlier rally triggered by worries that more sanctions on Iran might constrict supply.
Measures to control CAD will churn benefit of USD 8-10 billion: DEA secretary
Economic affairs secretary Subhash Chandra Garg on Friday expressed hope that the new measures taken to tackle higher Current Account Deficit (CAD) would have an impact of nearly USD 8-10 billion.Garg said that" the five CAD (Current Account Deficit) measures would definitely have a meaningful impact. It is difficult to give a specific number. I think it should have an impact of USD 8-10 billion."He further added, "in a meeting chaired by Prime Minister Narendra Modi discussion was mainly focused on current account and what can be done in capital account to finance the current account. The Economic affairs secretary said that there will be constant review on the current account side, probably by next week."Earlier on Friday, Finance Minister Arun Jaitley said that a broad policy decision has been taken to address the issue of expanding CAD under which the government will take necessary steps to cut down non-essential imports and also increase exports.Maintaining the fiscal deficit is .
Investor favourite NiSource faces questions after Massachusetts explosions
BOSTON (Reuters) - Before gas explosions in Massachusetts sent its shares reeling on Friday, utility NiSource Inc was considered a secure play and its top investor was loading up on shares as part of a push into what it called "the safest, most defensive sector in the S&P 500."
Trump readies tariffs on $200 billion more Chinese goods despite talks: source
WASHINGTON (Reuters) - U.S. President Donald Trump has directed aides to proceed with tariffs on about another $200 billion of Chinese goods, despite Treasury Secretary Steven Mnuchin's attempts to restart trade talks with China, a source familiar with the matter said on Friday.