Page 2602 - Business Finance
India, Czech Republic agree to combat terrorism
Prague [Czech Republic], Sept 7 (ANI): India and the Czech Republic on Friday agreed to jointly cooperate in the fight against terrorism in all its forms and manifestations.In a joint statement, President Ram Nath Kovind thanked his Czech counterpart Milos Zeman for his support for an early adoption of the Comprehensive Convention on International Terrorism at the United Nations."President Zeman and I shared our concerns on global and regional challenges. We emphasised the importance of cooperation in Defence and security. We committed to fighting terrorism in all its forms and manifestations," President Kovind said.The President also expressed his gratitude to the Czech Republic leadership for supporting India's claim for a permanent seat in the UN Security Council and its membership of the Nuclear Suppliers Group.Speaking on Defence cooperation, President Kovind elucidated, "There is immense potential for India-Czech Defence collaboration to meet the growing requirements of the ...
Real Madrid books record proft for 2017-18 season
Record European football champions Real Madrid have announced net profits of 31.2 million euros (approximately $36.10 million) for the 2017-18 season.
Home Ministry utilised 49.14 pc of total allocated budgetary funds of 2018-19
The Home Ministry has utilised 49.14 per cent of the total allocated budgetary funds in the first five months of this fiscal, officials said. This was disclosed at a meeting Friday where Home Minister Rajnath Singh reviewed the budget expenditure of the Home Ministry for the current fiscal. The Home Ministry has utilised 49.14 per cent of the funds till date -- April to September 7, 2018) out of the total budget of Rs 93,171.61 crore for 2018-19, an official said. The home minister, while expressing satisfaction at the pace of expenditure, directed the officials to maintain greater focus on capital expenditure and schemes and ensure full utilisation of allotted budget grants. Union ministers of state for home Hansraj Gangaram Ahir and Kiren Rijiju, Union home secretary Rajiv Gauba and senior officers of the ministry were present.
Analysis: JD.com investors spooked by 'key man risk' after CEO accused of rape
HONG KONG/SHANGHAI (Reuters) - A U.S. police investigation into an allegation of rape against JD.com Inc CEO Richard Liu has hammered the e-commerce giant's shares, with the case laying bare risks posed by his iron grip on management and the lack of other leaders to challenge him.
HSL delivers tug to Deendayal Port Trust
: Hindustan Shipyard Limited (HSL) Friday delivered a tug tothe Deendayal Port Trust This was the 181stvessel delivered by HSL and the second such vessel being delivered in this financial year, a shipyard press release said here today. The tug, designed and built by Hindustan Shipyard Limited, can attain a speed of 12 knots and is equipped with state-of the-art external fire fighting equipment. It would sail to Gandhidham to join Deendayal Port Trust, covering 2,200 nautical miles on her maiden voyage, it said. The Chairman and Managing Director of the shipyard, Rear Admiral L V Sarat Babu, congratulated allofficers, staff, workers and partners of HSL for their concerted efforts in enabling completion of the vessel, the release said.
JD.com investors spooked by 'key man risk' after CEO accused of rape
HONG KONG/SHANGHAI (Reuters) - A U.S. police investigation into an allegation of rape against JD.com Inc CEO Richard Liu has hammered the e-commerce giant's shares, with the case laying bare risks posed by his iron grip on management and the lack of other leaders to challenge him.
Gold, silver drop on subdued demand
Gold prices dropped by Rs 155 to Rs 30,430 per 10 gram at the bullion market here Friday due to subdued demand from stockists and retailers despite a firm trend in overseas markets. Silver prices also tumbled by Rs 340 to Rs 36,480 per kg owing to reduced offtake by industrial units. Standard gold (99.5 per cent purity) declined by Rs 155 to close at Rs 30,430 per 10 gram from Thursday's level of Rs 30,585. Pure gold (99.9 per cent purity) moved down by the same amount to end at Rs 30,580 per 10 gram against Rs 30,735, previously. Silver (.999 fineness) dipped by Rs 340 per kg to finish at Rs 36,480 as compared to Rs 36,820 yesterday. Globally, gold steadied as the dollar slipped versus a currency basket despite fears over looming the US- China trade tariffs and as investors turned their attention to the US payrolls data due later. Spot gold edged up by 0.1 per cent to USD 1,201.04 in an early trade. Spot silver was up by 0.2 per cent at USD 14.1 per ounce.
RBI tweak norms for exchange of defective currency
The RBI Friday tweaked norms for exchange of mutilated currency notes following introduction of Rs 2,000, Rs 200 and other lower denomination currencies. Post demonetisation in November 2016, the Reserve Bank has introduced Rs 200 and Rs 2,000 notes. Besides, it came out with smaller notes of Rs 10, Rs 20, Rs 50, Rs 100 and Rs 500. Public can exchange banks mutilated or defective notes at RBI offices and designated bank branches across the country for either full or half value, depending upon the condition of the currency. While making amendments to the Reserve Bank of India (Note Refund) Rules, 2009, the central bank said it has been done to enable the public to exchange mutilated notes in Mahatma Gandhi (New) series, which are smaller in size compared to the earlier series. These rules have come into force with immediate effect. "We further inform that there is a change in the minimum area of the single largest undivided piece of the note required for payment of full value for notes
Tesla chief accountant resigns one month after joining
(Reuters) - Tesla Inc Chief Accounting Officer Dave Morton resigned on Tuesday, citing discomfort with the level of public attention in the company and pace of work just a month after he joined the electric car maker.
Forex reserves drop by USD 1.19 bn to USD 400.10 bn
The country's foreign exchange reserves fell by USD 1.191 billion to USD 400.101 billion in the week to August 31 due to a decline in foreign currency assets and gold reserves, according to RBI data. In the previous week, the forex reserves had increased by USD 445.4 million to USD 401.293 billion. The decline in the country's forex reserves in the past few weeks is on account of the Reserve Bank of India selling US dollars to contain depreciation in the rupee, which touched a lifetime low of 72.11 against the greenback in intra-day trade Thursday. It closed at 71.73 Friday, after opening at 71.95. In the week ended August 31, foreign currency assets, a major component of the overall reserves, dipped by USD 605.1 million to USD 375.986 billion, as per the RBI data. Expressed in US dollar terms, foreign currency assets include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and the yen held in the reserves. Gold reserves fell by USD 600.9 ...
Yes Bank shares drop nearly 5%; top loser on Sensex and Nifty
Yes Bank shares Friday came under selling pressure, tumbling nearly 5 per cent, to hit a four-month low. The scrip plunged 4.59 per cent to end at Rs 323.45 on BSE. During the day, shares of the company lost 5 per cent to Rs 322. At NSE, shares of the company dropped 4.58 per cent to close at Rs 323.65. The stock was the worst hit among the blue chips on both the key indices during the day. In terms of equity volume, 43.17 lakh shares of the company were traded on BSE and over 4 crore shares changed hands at NSE during the day. The stock has fallen for two days in a row, down nearly 6 per cent, wiping out Rs 4,636.64 crore from its market valuation to Rs 74,656.36 crore on BSE.
Essential to bring petrol, diesel under GST : Pradhan
Fuel price hike in the country is due to international factors and it has now become essential to bring petrol and diesel under the purview of GST, Union Petroleum and Natural Gas Minister Dharmendra Pradhan said Friday. The unusual surge in fuel price is due to the political and economic situations at the international level and the Centre has been vigilant about it, he told newsmen here at the sidelines of a function. "It has now become essential to bring petrol and diesel under the purview of GST. As these two items are out of the GST, the nation has to bear a loss of about Rs 15,000 crore. If petrol and diesel are brought under the GST, it will be better for all including consumers," Pradhan said. Asked about the Centre's steps to reduce oil prices, Pradhan said "One cannot effectively address the situation just by cutting down the rate of excise duty. "The political situation in countries like Iran, Venezuela and Turkey has impacted the production of crude oil," Pradhan said ...
Gold up as dollar slips against yen on trade jitters
LONDON (Reuters) - Gold steadied as the dollar slipped versus a basket of currencies on renewed trade war worries and as investors turned their attention to U.S. payrolls data due later on Friday.
Oil firms as U.S. crude inventories fall, products gain
LONDON (Reuters) - Oil prices edged higher on Friday as a rise in stocks of refined petroleum products offset a big fall in U.S. crude inventories to the lowest level since 2015.
CAD eases marginally to 2.4pc of GDP in Q1 FY19: RBI
India's current account deficit (CAD) as a percentage of GDP declined marginally to 2.4 per cent in the April-June quarter of 2018-19 against 2.5 per cent in the year-ago period, the RBI data released Friday showed. In value terms, the CAD was higher at USD 15.8 billion in April-June this year as against USD 15 billion in the same quarter of 2017-18 mainly due to a higher trade deficit. "India's current account deficit (CAD) stood at USD 15.8 billion (2.4 per cent of GDP) in Q1 of 2018-19 as compared with USD 15 billion (2.5 per cent of GDP) in Q1 of 2017-18," the RBI said on Developments in India's Balance of Payments (BoP). The Indian currency is declining against the US dollar due to global factors as well as concerns on higher trade deficit on account of sustained high crude oil prices. According to the data, net services receipts increased by 2.1 per cent year-on-year mainly on the back of a rise in net earnings from software and financial services. "Private transfer receipts, ...
Kerala flood takes toll on natural rubber production, price
The Rs 45,000 crore non-tyre rubber products market is facing the heat of flooding in Kerala as price of the commodity has shot up by 20 per cent and may soar further impacting the SMEs most, officials said Friday. "Kerala contributes about 80 per cent to the country's natural rubber production. The flood will affect the (natural rubber) production by about 15 per cent. Natural rubber production in India is around 6 lakh tonnes, while our consumption is around 10 lakh tonnes," All India Rubber Industries Association president Kamal Kishore Chowdhury said. The shooting prices of natural rubber will impact profitability owing to rising input costs, said Vikram Makar, senior member of the association and chairman of India Rubber Expo 2019. The expo will be held in January next year in Mumbai. The yield for natural rubber has been stagnant while consumption has been growing by around 10 per cent annually, they said. They also said domestic rubber products like tube and tyre
Club Factory intensifies focus on Indian millennials
e-commerce platform Club Factory is all set to strengthen its focus on the Indian market by scaling up operations, in an endeavor to further connect with millennials across the country.Club Factory, which has gained immense popularity and positive word-of-mouth from users in India, has become one of the most downloaded shopping apps in the country.According to App Annie, Club Factory is ranked amongst the top e-commerce platforms in India and is also the highest downloaded app in the shopping category in July. Club Factory is known for offering unique, modern and stylish products and accessories at the most affordable prices.As a testimony to its organic growth, the company has received over 30,000 user generated content (UGC) videos on YouTube, showing users unboxing and sharing their shopping experiences. Club Factory boasts of a great selection of modern, trendy and unique products ranging from apparels, shoes, jewelry, home decor, handbags, beauty products to gadgets and ...
Asia Gold: Price dip lends lustre, India buying robust ahead of festivals
MUMBAI/BENGALURU (Reuters) - Physical gold buying picked up pace in major Asian centres this week as lower prices fuelled appetite for the metal, with India seeing healthy demand ahead of the festive season despite a rise in domestic rates to a two-month high.
World shares driven towards worst week since March by trade tensions
LONDON (Reuters) - World shares limped toward their worst week in almost six months on Friday, with Asia carving out a 14-month trough as investors braced for a new salvo of Sino-U.S. tariffs.
Fuel prices register steepest daily hike, up 50 paise/litre
Domestic fuel prices witnessed the steepest hike in the year so far with around 50-paise raise on Friday across the four metro cities.