Page 2613 - Business Finance
Exclusive: Customers to shun Rusal at Berlin 'mating season' for 2019 aluminium deals
LONDON (Reuters) - European customers will avoid deals with Russia's United Company Rusal, under U.S. sanctions, when the industry meets in Berlin next week to seal 2019 metal supply agreements, three sources familiar with the discussions said.
Big rise in paperless unreserved tickets sold through mobile app: Goyal
Railway Minister Piyush Goyal on Thursday said with the use of technology, paperless unreserved tickets have seen a massive rise in the last three years.
FIEO inks pact with NSE to increase awareness on price risk management
Exporters body FIEO Thursday said it has inked a pact with the National Stock Exchange of India (NSE) to impart knowledge to its members on price risk management and raising equity capital. The MoU will also help members of the Federation of Indian Export Organisations (FIEO) to get information related to hedging on NSE's platform for products like currency, debt, and commodity. FIEO Director General Ajay Sahai said the need for awareness creation assumes importance on account of huge volatility in currencies and uncertainty at the global trade front. He also stressed on the need for awareness on NSE's EMERGE platform for raising equity capital as an effective alternative to address the increasing cost of borrowing, as interest rates are moving northward.
'HDFC Bank is India's most valued brand for 5th year in a row'
HDFC Bank retained its top spot in the BrandZ India Top 50 for the fifth year in a row, growing its brand value by 21 per cent to USD 21.7 billion in 2018. The lender earned top spot, having built a reputation for its sustainable livelihood initiative by introducing smaller loans worth as little as USD 175 that can be accessed through its bank branches, WPP and Kantar Millward Brown's BrandZ Most Valuable Indian Brands report said Thursday. Insurance brand LIC comes in at the second spot (USD 19.8 billion) due to the key role played by its pension plan business, while Tata Consultancy Services ranked third (USD 15 billion), having leveraged digital technologies to drive growth and business transformation. Other new high-ranking brands include e-commerce retailer Flipkart (No 11, USD 4.1 billion), e-commerce payment wallet Paytm (No 12, USD 4.1 billion) and Zee TV (No 15, $3.8 billion). The collective value of the country's top 50 brands grew 34 per cent in 2018, ...
Kohinoor group ties up with Anarock
Realty firm Kohinoor group Thursday said it will invest Rs 60 crore to construct a housing project in the city and has tied up with property consultant Anarock for marketing. Pune-based developer group has partnered with Anarock Consultancy to market its project 'Tinsel County' at Hinjawadi, the company said in a statement. The company is developing 400 units at a construction cost of Rs 60 crore. The starting price of units is Rs 32.94 lakh. "Anarock Property Consultants will provide full-time assistance and will be responsible for sales, strategising the marketing plan, and channel partner sales for the same," it added. Kohinoor Group has been present in Pune for more than a decade and has delivered about 30 projects. It is currently doing five housing and two commercial projects. "We have joined forces with Anarock Property Consultants combining our large-scale consumer base, leading-edge consumer insights with their advisory expertise," said Kishore Gore, VP Marketing and Sales ..
No clearance of non-CTS compliant cheques from Jan: PNB
Punjab National Bank (PNB) has asked its customers to get their non-CTS compliant cheques replaced as these instruments will not be accepted for clearance in the banking system from January. Non-CTS compliant cheques shall not be processed for clearing with effect from January 1, 2019, PNB said in a notification. "Get your non-CTS cheque book replaced immediately," it said. The Cheque Truncation System (CTS) is a process of stopping flow of physical cheque in which an electronic image of the instrument is presented when it comes for clearing. This eliminates the cost of movement of physical cheques and reduces the time for clearance for better delivery of services to customers. As per RBI, banks are advised to issue only CTS-2010 standard cheques to their customers.
Assured supply of BS-VI fuel by 2020: Minister
Union Minister Dharmendra Pradhan on Thursday assured the automobile industry of a steady supply of Bharat Stage-6(BS-6) emission norms compliant fuel by 2020.
Tech weakness, trade jitters hit S&P, Nasdaq
(Reuters) - The S&P 500 and the Nasdaq dropped on Thursday, as internet stocks faltered for a second day on concerns about increased regulation, while Micron led a decline in chip stocks.
Oil gains from dollar weakness; focus pinned on demand outlook
LONDON (Reuters) - Oil rose on Thursday, encouraged by a weaker dollar and evidence of strong U.S. fuel demand, though demand prospects remain clouded by the turmoil engulfing emerging markets and an escalation in the U.S. trade dispute with China.
India to become 5-trillion-dollar economy in seven years: Prabhu
With phenomenal changes in social and economic sector reforms, India will become a five-trillion-dollar economy in seven years from the present 2.6 trillion dollars, Union Minister for Commerce and Industry and Civil Aviation Suresh Prabhu said here on Thursday.
22 per cent Indians believe there is less lying in politics: Survey
A large number of Indians, more than double of the global average, believe there is less lying in politics than in the past, according to a new survey released here on Thursday. In contrast with the global trend across 27 countries polled by Ipsos MORI for its Fake news, filter bubbles, post-truth and trust' study, India emerged at a robust 22 per cent believing that the average person can expect politicians to tell the truth more, compared to a global average of just 10 per cent. Britain at 4 per cent was the least trusting of its politicians, alongside Sweden, Hungary and Spain. Over 19,000 people in 27 countries participated in the survey. "And 57 per cent think there is more lying in politics and the media than there was 30 years ago, up to 71 per cent in South Africa, 69 per cent in the US and 68 per cent in Sweden. This is not the view of everyone, with 11 per cent thinking there is less lying, up to 22 per cent in India, Ipsos Mori said in a statement. Among its overall ...
Wow Express to raise $10 mn in Series B funding
Mumbai-based e-commerce delivery platform Wow Express plans to raise USD 10 million in Series B round of funding from the private equity (PE) investors in next one year period. "We have recently raised USD 4.5 million in a Series A round of funding and now looking at raising another USD 10 million from the private equity investors in next one year to fund our expansion plans," Wow Express chief culture officer Sandeep Padoshi told PTI on Thursday. The participants in Series A round included existing seed fund investors, including the Tamarind Family Trust of Mansukhanis (promoters of the Onida Group). The company plans to use the capital raised to expand its geographical presence, ramp up its technology platform, and strengthen its senior management team, Padoshi said. It provides services such as first-and-last-mile delivery, warehousing and reverse logistics. It has 40 customers, which include marquee e-commerce players such as Amazon, Nykaa, Myntra, Jabong, and ...
Pradhan invites SIAM to East to set up manufacturing units
Union Minister of Petroleum and Natural Gas, Dharmendra Pradhan invited Society of Indian Automobile Manufacturers (SIAM) to set up manufacturing units in the Eastern States of India. He attended the 58th annual convention of SIAM on Thursday in the national capital.SIAM is an auto industry body, which represents all major vehicle and vehicular engine manufacturers in India.Speaking at the convention Pradhan said, "I invite SIAM to look east, towards states like Odisha, Jharkhand for setting up manufacturing units and R&D (Research and Development) centres."The Union Minister spoke of Prime Minister's Purvodaya vision and the growth the region has experienced in the past four years."Prime Minister's Purvodaya vision focuses on a paradigm change in the development of Eastern States. Past four years have witnessed an unprecedented growth in logistics infrastructure and skilled manpower in these mineral-rich states of India," added Pradhan.Pradhan also took to Twitter and lauded ...
Caterpillar unveils new range of excavators
: Manufacturer of construction and mining equipment, Caterpillar Thursday unveiled a new generation of excavators manufactured at its facility on the city outskirts. The next generation 20-ton size class excavators, Cat 320D3 and Cat 323D3 are produced at the company's manufacturing unit at Thiruvallur. According to company officials, the machines offer up to seven per cent more hydraulic power, 15 per cent less consumption and five per cent lower maintenance cost. "To cater to the demand of our customers for a more reliable and more powerful heavy-duty excavator equipped with state-of-the-art technology, we have launched these two Next Generation 20-ton size class excavators..", Caterpillar India, Director-Sales and Marketing, Gurman Reen said. The 320D3 fits road contractor and construction customers demand for low owning and operating costs. It consumes 15 per cent less fuel than its predecessor 320D2 and also comes with 5 per cent lower maintenance cost, he ...
Escorts introduces automated concept tractor
Engineering and farm equipment major Escorts Ltd Thursday introduced its automated concept tractor equipped with next generation digital vehicle technologies aimed at precision-based farming. The company said it has partnered with Microsoft, Reliance Jio, Trimble, Samvardhana Motherson Group, WABCO, AVL and BOSCH for precision and autonomous farming technology integration. The partnerships will enable development of a range of farm machines with electric transmissions, autonomous applications, remote vehicle management, data-based soil and crop management, and sensor based guided farm applications, Escorts Ltd said in a statement. Commenting on the development, Escorts Ltd Chairman and Managing Director Nikhil Nanda said, "This year we have pioneered autonomous farming solution platform in association with seven strategic technology tie-ups which will transform agricultural practices for better returns to farmers." Last year, the company had launched electric compact tractor concept, .
Strides Pharma's promoter sells stake worth Rs 20 cr
Strides Pharma Science's promoter Abusha Investment & Management Services LLP Thursday sold 4 lakh shares of the firm for Rs 20 crore through an open market transaction. According to the block deal data available with the NSE, Abusha offloaded 4 lakh shares, amounting to 0.45 per cent stake in the firm. The shares were disposed of at an average price of Rs 493, valuing the transaction at Rs 19.72 crore. The data showed that the shares were purchased by Lifecell International. Shares of Strides Pharma settled at Rs 503.40 apiece on NSE, up 2.92 per cent from the previous close.
Financial software maker SS&C to buy Intralinks in deal valued at $1.5 billion
(Reuters) - Financial services software provider SS&C Technologies Holdings Inc said on Thursday it would buy peer Intralinks Holdings Inc from affiliates of Siris Capital Group LCC in a deal valued at $1.5 billion.
Global trade protectionism poses low-to-moderate risk to Indian steel cos: Ind-Ra
Global trade protectionism poses low-to-moderate risk to steel producers in India as there is lesser dependence on exports and safeguard measures on imports, India Ratings and Research (Ind-Ra) said Thursday. "Global trade protectionism poses low-to-moderate risk to Indian steel producers because of low reliance on exports and safeguard measures on imports," it said in a statement. On March 9, US President Donald Trump imposed heavy tariffs on imported steel and aluminium items, a move that has sparked fears of a global trade war. Thus, an upward revision of the anti-dumping measures to the extent of raw material cost push could be essential, India Ratings and Research said. The rating agency said that it has maintained a stable outlook on the steel sector for the remaining part of FY'19, in view of a healthy domestic and global demand growth and supply discipline. "However, EBITDA could be affected by about INR3,000/tonne because of growing global trade frictions resulting in ...