Page 2629 - Business Finance
Euro zone growth picks up in August but trade war casts a shadow-survey
LONDON (Reuters) - Euro zone business activity picked up a bit last month, extending a period of solid growth, but a growing global trade war kept optimism in check and suggests the pace may not be maintained, a survey showed.
Australia Market falls 1% on trade worries
Sigma Healthcare was among the best performers ahead of its first-half results on Thursday. Orocobre was the worst after saying that Argentina's export tax will equate to a levy of about 8% of its local venture's export sales revenue.
RBI May Be Following Relatively Hands Off Policy In Forex Market
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Communication, Trade And Financial Services Attracting Foreign Investors To India
India's digital drive, riding on communication, IT and financial services has caught fancy of foreign investors, as reflected in over USD 20 billion Foreign Direct Investment (FDI) flowing in these sectors alone in the fiscal, 2017-18, claims an ASSOCHAM analysis. With emergence of aggressive online market dominated by some of the strong home-grown entrepreneurs and overseas giants like Amazon and Walmart along with global private equity and venture funds, the entire pack of communication services, retail and wholesale trade, financial and computer services has emerged as one of the sought after areas of interest for foreign investors, as suggested by the RBI data.
Refined palmolein firms up on firm demand
Refined palmolein rose at the Vashi oils and oilseeds wholesale market here Wednesday following firm demand from retail buyers. While, castor seeds bold and castor oil commercial slipped due to mild demand from soaps and shippers industries. Elsewhere, linseed oil declined owing to sluggish demand from paint and allied industries. Meanwhile, groundnut oil ruled steady in absence of any worthwhile buying activity. In the edible section, refined palmolein traded marginally up by Rs 2 to Rs 680 per 10 kg from Tuesday's close Rs 678 and groundnut oil closed unchanged at Rs 890 per 10 kg. Moving to non-edible segment, castor seeds bold moved down by Rs 10 to Rs 4,620 per 100 kg as against Rs 4,630 yesterday and castor oil commercial edged down by Rs 2 to Rs 954 per 10 kg from Rs 956 yesterday. Linseed oil also slid by Rs 10 to Rs 950 per 10 kg as compared Rs 960.
Business leaders from Punjab woo investors in Singapore
Business leaders from Punjab have showcased the huge scope of opportunities in digitalisation, e-vehicles, agriculture and food processing sectors in the state before potential investors in Singapore. Speaking at the second day of the 'Invest North' trade summit here on Tuesday, the business leaders said Punjab is diversifying into advanced industrial and tech-driven industries. "We are creating a Centre of Excellence for digitalisation in Ludhiana, Upkar Singh Ahuja, president of the Chamber of Industrial & Commercial Undertakings in Ludhiana, said. "We are also looking for some joint ventures, mergers and acquisition. We have met consulting companies and we hope they will add value to our industries," he added. HMS Group chairman Pankaj Munjal said e-bike is the future cost-effective transport mode for common people in India. Punjab Finance Minister Manpreet Singh Badal pointed out the state's strong tractor and cycling industries as auto-component vendors. He futher said the ...
Caterpillar looks to consolidate position in India, rolls out 2 excavator models
Construction equipment major Caterpillar is looking to consolidate its position in the Indian market as it aims to bring in new products catering to various applications, a top company official said Wednesday. The company, which Wednesday introduced two new excavators in the country, aims to become a leading player in the excavator segment. It currently has leading position in verticals like motor graders, wheel rollers and mining trucks in the country. "India is a very important market for the company. It is the second largest construction equipment market in the world after China. We want to do well in this market and that is why we are bringing our best products here," Caterpillar Asia Pacific (Global construction and Infrastructure) Managing Director John A Fallows told reporters here. The company has invested around USD 1 billion in the country so far and would continue to invest to bring in new products, enhance production capacity and expand sales network, he added. He, ...
Norway's $1 trln fund to beef up scrutiny on sustainability, ocean pollution
OSLO (Reuters) - Norway's $1 trillion sovereign wealth fund wants companies in which it invests to follow stricter guidelines on global sustainability and strengthen efforts to combat plastic pollution of the oceans, it said on Wednesday.
UK economy holding up against Brexit jitters, for now - survey
LONDON (Reuters) - Britain's economy is holding its solid pace of growth, according to a survey which showed the large services sector expanded more strongly than expected in August, but Brexit worries are hitting investment plans and confidence.
HCC to raise Rs 500 crore through rights issue
Hindustan Construction Company (HCC) said Wednesday its board has approved plan to raise up to Rs 500 crore from its existing shareholders. The Board of Directors of the company in its meeting on September 5, has approved the issue of equity shares of the company by way of a rights issue to the existing shareholders, HCC said in a BSE filing. "The rights issue will be for an overall amount not exceeding Rs 500 crore and shall be in accordance with SEBI regulations," the filing said. The Board has constituted a Rights Issue Committee for the purpose of giving affect to the issue, and it has been authorised to finalise terms and conditions of the issue, including the rights entitlement ratio, price, record date, timing of issue and other related matters, the filing said.
Euro zone retail sales growth slows year-on-year in July as clothing spend falls
BRUSSELS (Reuters) - Euro zone retail sales grew at a more moderate rate than expected year-on-year in July as households spent less on clothing than a year earlier, mirroring a steady weakening of consumer sentiment since the start of the year.
VishUMoney aims to empower 1 Bn Indians to earn
Bengaluru-based startup VishUMoney has its primary objective of providing rewarding avenues for its users to earn money.VishUMoney solves the problem of lack of financial reach by addressing all shortcomings in the current market by providing a complete platform that, when availed, can upgrade this financial reach to meeting the essentials needs to accumulating substantial savings on the long run.They want their users to earn during free time and save money substantially on meeting their needs easily. Claiming to hold a collective earning potential of more than Rs. 500, saving 20% meeting their needs on an average and earning cashback of upto10% anytime all from various brands and services needing genuine public engagement. Spending less than 30 minutes of their time on the platform a user can easily earn Rs. 100 or more.Having observed economic disparity from a young age in people from various walks of life, Vishnu Prakyath, the Founder of VishUMoney expresses that it had been ...
Freight rates dip on heavy position of trucks, reduced cargo
Freight rates for the nine-metric tonne pay load section for select destinations dropped by Rs 1,000 at the local truck transport market in the national capital following heavy availability of trucks and restricted cargo movements. Transporters said excess position of trucks in the market along with limited cargo movements, pulled down some of the destinations freight rates. Delhi to Guwahati, Hyderabad and Vijayawada freight rates fell by Rs 1000 each to Rs 61,000, Rs 57,000 and Rs 59,000, respectively. Rates to Puducherry, Kochi and Bengaluru also went down by Rs 1000 each to Rs 67,000, RS 75,000 and Rs 62,000, respectively.
Govt need not respond to daily, weekly changes in oil prices: Niti Aayog
Niti Aayog Vice Chairman Rajiv Kumar said Wednesday the government need not respond to daily or weekly changes in the oil prices as they declined in July after showing northward movement a month ago. Crude oil has gained USD 7 a barrel in a fortnight, driven by fears that the US sanctions on Iran will likely contract supplies. "Weekly, daily or periodic changes in global oil and commodity prices are to be observed but don't necessarily have to be responded. "The prices rose in June but then declined in July. Is not it? Same situation may happen again, therefore policy can not be a knee-jerk reaction to periodic events in the markets," Kumar told PTI. Petrol and diesel prices in the country have been rising owing to a sharp rise in global crude oil rates. Senior Congress leader P Chidambaram has blamed the NDA government for rise in petrol and diesel prices, saying it was happening due to "excessive taxes". Petrol price in Delhi on Tuesday rose to a record Rs 79.31 a litre and diesel .
Gur ends quiet in Delhi; rises in Muzaffarnagar, Muradnagar
Gur (jaggery) prices finished steady at the wholesale market in the national capital following scattered buying amid adequate stocks. On the other hand, Muzaffarnagar and Muradnagar gur markets displayed a better form with prices rising by Rs 100 per quintal on paucity of stocks amid speculative buying. Marketmen said besides, scarcity of stocks due to negligible arrivals, speculative buying by stockists and retailers mainly drove the uptrend in gur prices particularly in Muzaffarnagar and Muradnagar. In Muzaffarnagar, gur Chakku prices hardened by Rs 100 to finish the day at Rs 3,000-3,100 per quintal. Gur Raskat prices also shot up by Rs 100 to end at Rs 2,7450-2,800 per quintal on sturdy buying by beer making industries. At Muradnagar, gur Pedi prices concluded higher by Rs 100 to Rs 3,350-3,400 instead of Rs 3,250-3,350 per quintal. Following are today's rates (in Rs per quintal): Gur chakku Rs 3,300-3,400, pedi Rs 3,600-3,700, dhayya Rs 3,700-3,800 and shakkar Rs ...
Unicharm eyes 10% of global revenues from India by 2020
Japanese FMCG firm Unicharm is expecting 10 per cent of its global revenues to come from India by 2020, a top company official said. The company, which makes MamyPoko Pants diaper and sanitary napkin Sofy, currently generates around 6 per cent revenues from India on a consolidated basis, according to Unicharm global chief executive officer Takahisa Takahara. "In 2020, this 6 per cent composition will become 10 per cent," Takahara told PTI. The company had reported a consolidated net sales of 641.647 billion yen for the year ended December 31, 2017, according to the company website. It aims to clock a consolidated net revenue of 800 billion yen (around Rs 51,273 crore) in 2018, he said. The company, which started its operations in India 10 years ago, is expecting to grow at 15-20 per cent in the country this calendar year, added Takahara. Globally, it has presence in 80 countries and has manufacturing plants in 17 nations, including India and Japan. The FMCG firm Wednesday .
JSPL plans to demerge steel, power, int'l biz into three separate units
In a bid to reduce its around Rs 42,000 crore debt, Naveen Jindal-led JSPL is contemplating to demerge its steel, power and global business into three separate entities. The financial stakeholders and prospective investors have suggested demerging Jindal Steel and Power Ltd (JSPL) into three different entities, according to company sources. The company is "considering demerger of the domestic steel, power and international steel business as separate entities", a JSPL spokesperson said. The suggestions, the spokesperson said, "have been received from certain sections of our stakeholders, which are under initial stages of consideration". Giving a breakup of its current debt of around Rs 42,000, the source said JSPL's domestic steel business has a maximum debt of around Rs 20,500 crore, followed by domestic power business at around Rs 8,500 crore and global business at around Rs 13,000 crore. Justifying the proposed demerger, the source said there are certain investors whose outlook is ..
Asia's strong jet fuel margins at risk from high cost to airlines
SINGAPORE (Reuters) - Asian airlines may have to raise airfares to mitigate costs from high jet fuel prices, analysts said, a move that would likely cap booming growth in aviation demand and slash jet fuel margins that are seasonally at their strongest in five years.
India Inc announced M&A deals worth USD 34.8 bn in Jun qtr: EY
Corporate India announced merger and acquisition (M&A) deals worth USD 34.8 billion during April-June this year, registering nearly 7 fold jump over the same period last year, says an EY report. According to EY's latest Transaction Quarterly, the reported period recorded highest quarterly deal value at USD 34.8 billion across 273 deals in India. While deal volume rose 19 per cent year-on-year, the disclosed deal value was 6.8 times of the USD 5.1 billion reported in April-June 2017. The uptrend can be attributed to the six big ticket deals (worth over USD 1 billion) in the reported quarter, the report said. The biggest deal in June quarter 2018 was the USD 16 billion acquisition of Flipkart by Walmart Inc, which accounted for 46 per cent of the total disclosed deal value, EY said. "M&A activity is expected to stay positive in the coming quarters, on the back of continued interest of financial and strategic investors in the Indian market," said Amit Khandelwal, Managing ...
Cos spend 25% of L&D budget on training sales teams: Survey
As automation and robots transform human tasks, changing the skill-sets required for diverse jobs, companies across industries are spending about 25 per cent of the learning and development (L&D) budget on training sales teams, a survey said. Further, the overall average L&D spend per employee is Rs 41,838 per annum, with a major focus on sales teams, talent assessment firm Mettl's said in its 'State of Workplace Learning and Development Report 2018'. The survey, conducted among 1,500 L&D experts across the country, revealed that over 80 per cent organisations have some sort of structured L&D. About 38 per cent L&D experts said improving employee performance in the company is the prime focus of their programmes this year. "Since the learner of today is more demanding and evolved, it is necessary to plan the L&D programmes in depth. Aligning L&D interventions with the individual as well as business goals for achieving desired outcomes is ...