Page 2600 - Business Finance
Isuzu rolls out 2 mini-trucks for south Indian market story for biz news:
Leading transport solutions provider SML-Isuzu on Friday rolled out two models of mini-trucks for the south Indian market.
Wall Street gives up gains after Trump's China tariff threats
(Reuters) - U.S. stocks reversed course to trade lower on Friday, after President Donald Trump said a fresh round of tariffs on $267 billion worth of Chinese imports are ready to go, if he wanted, escalating trade war fears.
S&P, Nasdaq move higher on trade optimism, chip stocks boost
(Reuters) - The S&P 500 and the Nasdaq rose on Friday morning, rebounding from losses after strong August jobs data, helped by optimism around the trade dispute with China and a rebound in chipmakers.
Linde-Praxair merger gets antitrust clearance
The Competition Commission of India (CCI) on Friday approved the merger of industrial gases giants Linde Aktiengesellschaft and Praxair Inc, subject to compliance of certain conditions.
RBI slaps Rs 1 cr fine each on UBI, Bank of India and Maha Bank for delay in fraud detection
The Reserve Bank has imposed a total penalty of Rs 3 crore on three state-run banks of Union Bank of India, Bank of India and Bank of Maharashtra for delay in detection and reporting of fraud in some accounts. The central bank in three separate releases Friday said it has imposed a penalty of Rs 1 crore each on the three banks of Union Bank of India (UBI), Bank of India and Bank of Maharashtra The RBI on August 30 "imposed a monetary penalty of Rs 10 million" on the banks for contravention of the instructions contained in Master Circular on Fraud Classification and Reporting issued by RBI, according to the releases. The penalty has been imposed taking into account delay on the part of the bank to detect and report fraud in an account, it said. "This is to inform that Reserve Bank has imposed a penalty of Rs 10 million on the bank for delay in detection and reporting of fraud. The penalty has been imposed in exercise of powers vested in RBI under ...Banking Regulation Act," Union ...
Modi calls for more US investment in India
Prime Minister Narendra Modi on Friday urged American investors to step up their investment in India, saying the country offers enormous investment potential.
Indonesia restaurant chain seeks 'rupiah warriors' as economic worries grow
JAKARTA (Reuters) - As Indonesia's currency trades at its weakest levels since the 1998 Asian financial crisis, a local restaurant chain is offering free meals to clients who can prove they have exchanged holdings of U.S. dollars for the ailing rupiah.
Launch ventures of your own: Pradhan tells youths
Union Petroleum Minister Dharmendra Pradhan Friday asked the youths to focus on entrepreneurship and launch their own ventures in order to play a major role in nation building. "Energetic youngsters should focus more on entrepreneurship and become employers rather than employees to be able to play a greater role in nation building," Pradhan said inaugurating the academic session of the first batch in Chemical Engineering at ICT-IOC Bhubaneswar campus here. The new campus is an extension of the Institute of Chemical Technology (ICT), Mumbai, in partnership with Indian Oil Corporation Ltd (IOC). Pradhan said Prime Minister Narendra Modi's vision for a New India is to increase the GDP through industrialisation, employment generation and raising the living standards of people in eastern India through creation of a hub of industries based on local resources catering to all sections of society. ICT will play vital role in the eastern part of the globe in reference to ...
Modi meets leaders of global automotive companies
Prime Minister Narendra Modi held one-on-one meetings with leaders of various automotive and transportation companies from all over the world on Friday.
Indian Public Debt at June-end rose to Rs 79.8 lakh cr
The Indian government's public debt increased to Rs 79.8 lakh crore by the end of the first quarter of the fiscal ending June, from Rs 77.98 lakh crore at end of the previous quarter, official data showed on Friday.
India's current account deficit at 2.4% in Q1 of FY2019
Balance of Payment deficit at US$ 11.3 billion in Q1 of FY2019
Rubber products makers could face pressure in profitability
Non-tyre rubber products manufacturers, who are experiencing a 20 per cent increase in natural rubber prices following the floods in Kerala, are apprehending that their profitability could be affected with rising input costs, officials said here on Friday.
Drop forensic audit and permit statutory audit: Parsvnath Developers to Sebi
Realty firm Parsvnath Developers has written to markets regulator Sebi to withdraw its interim order of forensic audit of the firm, saying there is no "wrongdoing" on its part. Instead of forensic audit, the company requested that statutory audit should be conducted and an opportunity should be given for personal hearing. On August 8, Sebi ordered a forensic audit of Parsvnath Developers, which figured in the list of 331 "suspected shell companies", on prima facie suspicion of misrepresentation of business by the firm with regard to certain transactions. The company was asked to submit its reply on the interim order within 30 days. In a filing to the BSE, the realty firm informed that it has filed its representation with the Securities and Exchange Board of India (Sebi). "... while there is no hesitation to undergo any scrutiny, and particularly when we have consistently maintained that there is no wrongdoing on our part, such an order, which is based on prima facie observations and ..
IL&FS Group's Board meets to seek immediate financial support: Sources
The Board of cash-strapped IL&FS has sought immediate financial support from its key shareholders, sources said.
600 F&B importers from 50 countries likely at Indusfood 2019: Ministry
Around 600 food and beverage (F&B) importers from about 50 countries are likely to participate in Indusfood-II, touted as the world's food supermarket, in January 2019, the Ministry of Commerce and Industry said on Friday.
Higher trade deficit ups India's Q1 CAD to $15.8 bn
Indias current account deficit (CAD) at $15.8 billion during the first quarter ending June is higher compared with that in the same quarter a year ago and stood at 2.4 per cent of the GDP owing mainly to increased trade deficit, RBI data showed on Friday.
Performance of textiles industry better, says SIMA chairman
The performance of the textiles industry during the financial year 2017-18 has been slightly better than last year, chairman of Southern India Mills Association (SIMA) and managing director of KPR Mill Ltd P Nataraj said Friday. In his address after being re-elected as chairman of SIMA at its 59th annual general body meeting here, Nataraj said yarn and cloth production increased to 5,676 million kg and 66,524 million square metre as against 5,667 million kg and 63,482 million square metres. Though affected by demonetisation and goods and services tax (GST), the economy was back to normal now, indicating steady growth, he said. Major policy initiatives that could address the GST- related issues were reduction of the tax on man-made filament and spun yarn from 18 to 12 per cent as well as inclusion of all textile job work under a GST of five per cent, he said. "Though major demands in respect to the GST have been addressed, we still have some issues that are yet to be ...
Global Markets: World stock markets on pace for worst week since March as trade, rate hikes weigh
NEW YORK (Reuters) - World share indexes limped toward their worst week in almost six months on Friday, with Asia equities hitting a 14-month low and U.S. stocks down in early trading as investors braced for additional trade tariffs and higher U.S. interest rates.
Global Economy: A decade after Lehman, Europe remains on economic crutches
FRANKFURT (Reuters) - Ten years after the collapse of Lehman Brothers and the onset of the global financial crisis, much of the industrialised world has yet to fully recover and this will be all too evident at the European Central Bank's policy meeting on Thursday.
Recovery in rupee, firm auto stocks lift equity indices (Roundup)
Despite a largely volatile session on Friday, the key Indian equity indices ended on a positive note supported by a recovery in the rupee.