Page 2539 - Business Finance
India's August trade deficit narrows to $17.4 billion
NEW DELHI (Reuters) - India's trade deficit narrowed to $17.4 billion in August from a five year high of $18.02 billion hit in July, the trade ministry said on Friday, helped by a pick up in exports after a fall in the rupee.
Analysis: Emerging market currency crisis could lead to broader economic trouble
LONDON (Reuters) - Emerging market investors are trying to gauge whether a currency crisis and the steep interest rate hikes being used to fight it could turn into a broader slowdown and even recession.
Infosys to acquire Fluido
Software major Infosys Friday announced that it has signed a definitive agreement to acquire Fluido, a salesforce advisor which has established itself in cloud consulting, implementation and training services. The deal, said Infosys, would strengthen its position as a leading salesforce enterprise cloud services provider and enhance its ability to provide clients an unparalleled cloud-first transformation. Fluido has offices in Finland, Denmark, Sweden, Norway and Slovakia, which will elevate Infosys' presence across the Nordic region with developed assets and deep client relationships, Infosys said in a statement. Ravi Kumar, president and deputy COO of Infosys, said the acquisition demonstrates Infosys' commitment to the salesforce ecosystem to address its client's digital priorities. "Fluido will be an important addition to the Infosys family, bringing a unique combination of market presence, deep salesforce expertise, agile delivery and training. This acquisition also
Re on recovery path, gains 34p to end at 1 wk high against dollar
The rupee Friday surged by another 34 paise to close at a one-week high of 71.84 against the US dollar on positive macro data and hopes of policy intervention by the government to defend the volatile currency. Extending gains for a second session, the domestic unit hit a session high of 71.53 in early trade. Sustained dollar selling by exporters and banks along with the greenback's weakness against other major Asian and emerging market currencies, in turn keeping the buoyant tone intact. Rupee also benefitted from the massive US Dollar re-pricing in the aftermath of the weak US inflation report, discounting the chances of Fed hiking rates four times this year. A combination of positive macro-related developments after the country's industrial production grew at 6.6 per cent in July and retail inflation cooled to a 10-month low of 3.69 per cent in August, strengthened the rupee sentiment. Earlier today, official data showed WPI-based inflation eased to a four-month low of 4.53 per cent
Religare Enterprises allots 44.74 lakh equity shares
On conversion of warrants
NBCC stock jumps 2 pc on buyout of govt-owned consultancy firm HSCC
Shares of NBCC Friday jumped over 2 per cent after the company said it will buy out 100 per cent government stake in consultancy firm HSCC for Rs 285 crore. "DIPAM intimated vide letter dated September 13, 2018, that NBCC has been selected as the buyer for 100 per cent strategic disinvestment of HSCC at a bid amount of Rs 285 crore," NBCC had said in a regulatory filing Thursday. Shares of the company climbed 2.39 per cent to settle at Rs 68.45 on the BSE. The stock had opened at Rs 69 and touched a high and a low of Rs 70.50 and Rs 67.80, intraday. On the NSE, the stock ended the day at Rs 68.25, up 2.09 per cent from the previous close. After opening at Rs 67.95, the stock had touched a high of Rs 70.40 and a low of Rs 67.80 during the day. In terms of volume, 5.82 lakh and 51.49 lakh shares of the firm were traded on the BSE and the NSE, respectively. The market capitalisation of the firm shot up by Rs 288 crore to Rs 12,321 crore following the gains. The government last October ...
Siemens arm to digitize Bengaluru airport operations
German technology major's arm Siemens Postal, Parcel & Airport Logistics (SPPAL) will digitize operations of the international airport in Bengaluru, said the operator on Friday.
Ramnik Kohli named India CEO of TECHNONICOL Corporation
TECHNONICOL Corporation, an international manufacturer and supplier of roofing, waterproofing, thermal insulation and sound absorption materials, announced the appointment of Ramnik Kohli as the Chief Executive Officer for India.His appointment comes as a part strengthening and expanding TECHNONICOL's presence in the Indian market as the country is witnessing rapid growth in roads, bridges, railways, airports, residential and commercial buildings and power generation construction, which calls for concerted focus on building materials.TECHNONICOL Corporation integrates 53 production sites, six R&D centres with 6500 qualified staff and has 25 years of market experience. The company specialises in selling building materials and tools for industrial, civil and private housing construction."Ramnik is an accomplished leader with an outstanding track record. India is an important country and part of TECHNONICOL's global growth strategy. Ramnik will develop and further accelerate our ...
Cars24 appoints Hypersonic to lead new marketing campaign
Hypersonic Advisory, a growth-focused consulting company, helped Cars24 launch their new brand campaign that aims to position the brand as the one-stop shop for sale of used cars due to the transactional convenience it offers.As of today, Cars24 is the only offering in the market for used cars, that allows you to sell your car, initiate payments and have a hassle-free transaction, all in the same day.To further Cars24's ambition of growing three times in three months, Hypersonic conducted numerous consumer tests and created a new campaign that consisted of four ad films featuring Bollywood stars Nawazuddin Siddiqui and Mandira Bedi.The Hypersonic team, led by Vani Gupta and Venkatesh Rangachari, with a combined experience of 40 years in marketing, promises end-to-end planning and execution, wherein business impact is demonstrated within 90 -100 days from the start.The tagline of the campaign, "Car bechni ho, toh Cars24" emphasises the market leadership that the brand aims to ...
Future Supply Chain Solutions becomes logistic partner for Voltbek
To manage pan-India supply chain network for the consumer electronics giant
Infosys to acquire Fluido, the Largest Salesforce Consulting Partner in Nordics
Fluido, is one of the largest and longest tenured independent Salesforce Platinum Consulting Partners in Europe and an Authorized Salesforce Training Delivery partner in the Nordics. Fluido brings to Infosys globally recognized Salesforce expertise, alongside a world-class agile delivery process that simultaneously simplifies and scales digital efforts across channels and touchpoints.
ABB, Nobel Media announce global partnership
Tech firm ABB on Friday announced partnership with Nobel Media, bringing together two organisations committed to the development of innovation, education and scientific research.
Gold recovers on renewed buying
Gold prices rebounded at the bullion market here Friday, tracking a firming trend overseas along with increased buying from stockists and retailers. Silver prices inched up by Rs 5 per kg to Rs 36,595 on mild demand from industrial units. Standard gold (99.5 per cent purity) moved up by Rs 110 to close at Rs 30,560 per 10 grams from Wednesday's closing level of Rs 30,450. Pure gold (99.9 per cent purity) also rose by the same amount to end at Rs 30,710 per 10 gram as against Rs 30,600 previously. Silver (.999 fineness) gained Rs 5 to finish at Rs 36,595 per kg as compared to Rs 36,590 earlier. Globally, gold edged higher, lifted by a weaker dollar, but gains were tempered by expectations of a US rate hike later this month. Spot gold was up by 0.4 per cent at USD 1,206.01 an ounce in early trade. Meanwhile, spot silver rose 0.4 per cent to USD 14.22 per ounce.
India to work with other nations to reform WTO : Prabhu
India will work along with other countries to reform the World Trade Organisation (WTO) to ensure that it continues to be an engine for global trade, Commerce and Industry Minister Suresh Prabhu said Friday. The minister, who is in Argentina for G-20 Trade and Investment Ministerial meeting, said India looks forward to working with all member countries for an agreeable, forward looking, reform agenda. "Through the G-20 forum, India will take this idea forward in mission mode," the commerce ministry said in a statement quoting Prabhu. "India will work along with other countries to reform WTO and ensure that it continues to be an engine for global trade," Prabhu said. The key issues that will be discussed in the G-20 meeting include global value chains, new industrial revolution and the international trade outlook, among others. The multilateral trading system is facing unprecedented challenges in the wake of protectionist measures by some countries, which is not compatible with the ...
Gold climbs on weak dollar; rate outlook caps gains
LONDON (Reuters) - Gold edged higher on Friday, lifted by a weaker dollar, but gains were tempered by expectations of a U.S. rate hike later this month.
Carney warns of 'no-deal' Brexit house price crash - newspaper
LONDON (Reuters) - Britain's property market would crash and mortgage rates spiral up in the event of a chaotic no-deal Brexit, with house prices falling 35 percent over three years, Bank of England Governor Mark Carney told ministers, The Times newspaper reported.
Rashtriya Chemicals stock jumps over 9% on cabinet nod to land transfer
Shares of Rashtriya Chemicals and Fertilizers (RCF) Friday jumped 9 per cent after the cabinet gave nod to transfer the state-run firm's land to Mumbai Metropolitan Regional Development Authority (MMRDA). During the morning trade, RCF had jumped over 17 per cent. On the BSE, RCF settled for the day at Rs 73.95, up 9.15 per cent from the previous close. The stock had opened on a bullish note at Rs 78.55, then jumped 17.85 per cent to an intra-day high of Rs 79.85. Similar trend was seen on the NSE, where the shares rose 9.20 per cent to end the day at Rs 74.15. After opening at Rs 79.25, the stock surged 17.23 per cent to touch a high of Rs 79.60 for the day. On the volume front, 16.13 lakh shares were traded on the BSE and 1.01 crore changed hands on the NSE. Following an uptick in the counter, RCF's market capitalisation surged by Rs 342.05 crore to Rs 4,079.73 crore. The cabinet Wednesday gave ex-post facto approval for transfer of land of RCF to MMRDA. MMRDA had acquired 48,849.74 .
VW in talks on self-driving car standards - report
HAMBURG/PARIS (Reuters) - Germany's Volkswagen is in talks with other carmakers to set common standards for self-driving vehicle technology, Automotive News reported on Friday.
Bangladesh textile workers protest new minimum wage announcement
Hundreds of textile workers demonstrated in the Bangladesh capital on Friday, protesting against the government's new minimum wage offer for workers in the key economic sector.
World stocks boosted by trade hopes, tech and Turkey
LONDON (Reuters) - World stocks hit their highest levels in over a week on Friday as expectations grew that the United States and China would open new trade talks, while an interest rate hike in Turkey supported the lira and global risk appetite.