Page 2649 - Business Finance
India thanks Cyprus for support to candidature in expanded UNSC
India on Monday thanked Cyprus for extending support to New Delhi's bid for permanent membership in a reformed UN Security Council and also for the Nuclear Suppliers' Group.
Billionarie Liu Qiangdong's arrest in US sparks outrage in China
The arrest of Liu Qiangdong, the chief executive of JD.com, has shocked Chinese society, which on Monday demanded more information about the alleged sexual misconduct of one of the country's richest men.
Global Markets: World stocks slip for third day as trade, emerging market worries bite
LONDON (Reuters) - Global stock markets fell for a third straight day on Monday, hurt by worries over the escalation of trade disputes between world powers and a deepening sell-off across emerging market currencies.
Rupee ends at lowest level of 71.21 per dollar
The Indian rupee reversed all the gains made earlier in the day to close at an all-time low of 71.21 per dollar on Monday, tracking a weak trend among its global peers and amid concerns of a wider trade deficit.
Coconut products export increase to Rs 6,448 cr in 2014-18
India's export of coconut products has increased to Rs 6,448 crore in value terms during the first four years of the NDA government as against Rs 3,975 crore in the ten years of the UPA, the agriculture ministry said Monday. A quantum leap in the export of coconut products is expected in the near future as the price of coconut products is increasingly becoming highly competitive, it said. The government is promoting coconut product exports by giving 5 per cent incentive under the new Foreign Trade Policy for 2015-20. "Income earned from export of coconut products was Rs 3,975 crore during 2004-14, which increased to Rs 6,448 crore during 2014-18," the ministry said in a statement. With the government's efforts, India has started exporting coconut oil to Malaysia, Indonesia and Sri Lanka. Till last year, India used to import coconut oil from these countries, it said. Besides, for the first time, India is exporting large quantities of dry coconut to US and European countries, it ...
LIC Housing Fin to provide loan at concessional rate to flood-hit victims in Kerala
LIC Housing Finance will offer loans up to Rs 15 lakh at concessional rate of 8.5 per cent to customers in flood affected areas of Kerala. Under the scheme, loan up to Rs 15 lakh will be extended for properties located in the flood affected areas of Kerala for the purpose of reconstruction, repair, renovation or up-gradation of dwelling units, the company said in a statement. Announcing the plan Monday, LIC Housing Finance said 'Kerala Flood Scheme' will be offered at 8.5 per cent special rate of interest. Customers can apply for loan till October 31. Also as a relief for its existing customers, the company has decided not to levy any additional charges arising due to late payment of EMI for the month of August and September 2018, it said further. All ancillary charges resulting from such late payments and recovery charges also have been waived till September 2018. "We have sensitised our teams in the state to support the customers in every possible way. LIC Housing finance stands ...
Electric Mercedes opens German assault on Tesla
STOCKHOLM/PARIS (Reuters) - Mercedes-Benz is set to unveil its much-anticipated electric SUV on Tuesday, marking the start of a German onslaught against Tesla's dominance of the fast-growing market for premium battery cars.
Mother Dairy clocks Rs 600-cr sales from cow milk in FY18; aims 65pc growth this fiscal
Mother Dairy clocked Rs 600 crore in revenue from cow milk segment last fiscal and expects around 65 per cent rise in the current financial year on growing consumer demand, sources said. Buoyed by healthy sales revenue from cow milk which it introduced in mid 2016, Mother Dairy has now decided to add 'cow milk curd' in its product portfolio. To begin with, the company will sell 'cow milk curd' in the Delhi-NCR and northern markets. Later, this would be introduced to other markets as well. The company has fixed the price of 100 gm cup at Rs 12 while the rate for 400 gm is Rs 45. Mother Dairy sells 35 lakh litres of liquid milk per day, of which about 20 per cent is cow milk. According to company sources, the company achieved Rs 600 crore sales turnover from cow milk last fiscal and the same is expected to touch Rs 1,000 crore this fiscal. Mother Dairy's overall turnover stood at Rs 8,700 crore during the 2017-18 fiscal, the bulk of which came from liquid milk. Dairy products, fruits ...
Rely on these platforms to send gifts to remote locations this festive season
The logistics industry has seen a sharp turn in the demand of instant delivery. With festive season round the corner, the demand for express delivery has hit a top notch too.Many express delivery logistic companies have implemented their express delivery model to cater to the needs of customers.From door to door service, to urgent consignments with online track and trace status of consignments, they make sure that your gifts are delivered to the door step of any corner of the country.Here are 4 companies offering express delivery this festive reason:TCIEXPRESSPioneer in the express delivery model, the company express delivers in more than 40,000 locations in India including metros and tier II and III cities with last mile delivery services within 48-72 hours, they offer Day definite delivery with IT interfaces with customers and Sunday and holiday deliveries as well. With their service reach in Surface, domestic and international air express, they offer global delivery making it ...
RInfra ratings rise as Mumbai power business sale cuts debt
Reliance Infrastructure's (RInfra) ratings have improved with the completion of transaction for sale of its Mumbai power business, the proceeds of which have been used to pay off debt liabilities, the company announced on Monday.
Global Economy: Factories feeling the pinch from escalating trade conflict
LONDON/TOKYO (Reuters) - Manufacturing activity took a hit from weak orders in August, surveys showed, a sign firms are feeling the pinch from an intensifying trade war between the United States and China that could derail global growth.
In South Africa, white Sasol workers protest against black share scheme
JOHANNESBURG (Reuters) - Workers from South Africa's mainly white Solidarity union staged a go-slow protest at the petrochemicals firm Sasol on Monday over a share scheme offered exclusively to black staff, and said they would begin a full strike on Thursday.
Xi announces another USD 60 bn aid for Africa; dismisses 'debt trap' criticism
Chinese President Xi Jinping on Monday announced a whopping USD 60 billion in new development financing for the African nations as he sought to refute criticism that the massive funding under Beijing's Belt and Road Initiative (BRI) drawing the countries into a debt trap. The funds - - announced on top of USD 60 billion that Beijing offered to the African nations in 2015 - - will be provided in the form of government assistance as well as investment and financing by financial institutions and companies. The finances to be made under the BRI include USD 15 billion grants, interest-free loans and concessional loans, USD 20 billion credit lines, setting up of a USD 10-billion special fund for development financing and a USD 5 billion-special fund for financing imports from Africa, Xi said at the start of a two-day Summit of the Forum on China-Africa Cooperation (FOCAC) attended by the 53 heads of the African states and organisations. The African nation heads and their officials gathered .
Maruti shares sink over 2 pc post August sales data
Shares of Maruti Suzuki India Monday fell by over 2 per cent after the company reported decline in its total sales for August. The stock slipped 1.90 per cent to end at Rs 8,924 on the BSE. During the day, it lost 2.29 per cent to Rs 8,888.85. On the NSE, shares of the company fell by 2.42 per cent to close at Rs 8,876. The country's largest car maker Maruti Suzuki India Saturday reported 3.4 per cent decline in total sales to 1,58,189 units in August. The company had sold 1,63,701 units in August last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales were also down by 2.8 per cent at 1,47,700 units last month as against 1,52,000 units in the year ago month, it added.
Ad giant WPP names Read as CEO to succeed founder Sorrell
LONDON (Reuters) - WPP named company veteran Mark Read as its new CEO on Monday to steer the world's biggest advertising company through a period of unprecedented change and following the acrimonious exit of its founder Martin Sorrell.
Nifty September 2018 futures at steep premium
Turnover on NSE's F&O segment rises
Mumbai-based Intelenet opens global delivery centre in Jordan
Consolidating its presence in the Middle-East, Business Process Services (BPS) provider Intelenet Global Services on Monday announced it has set up a global delivery centre in Jordan.
Petrol, diesel hit fresh high, rise for 9th straight day
Prices of petrol and diesel, already at unprecedented levels in the country, rose for the ninth consecutive day on Monday.
Dollar strength against rupee no panacea for export growth: EEPC India
India's engineering export growth slackened to 9.4 per cent in July even as the rupee continued to depreciate against the dollar during the month, demonstrating that a stronger dollar does not always lead to export momentum, the EEPC India said on Monday.
Carlyle Group appoints Vikram Nirula as MD Carlyle Asia PE
Global alternative asset manager The Carlyle Group on Monday said it has appointed Vikram Nirula as managing director of Carlyle Asia private equity. Based in Mumbai, Nirula will advise on Carlyle's investment activities in India, it said in a statement. He joins Carlyle from Indian PE firm, True North Managers, which he helped found. "As one of our key strategic markets, India presents attractive investment opportunities, particularly in financial services, healthcare and consumer, amid robust economic growth and structural reforms. Vikram's extensive on-the-ground experience in India's PE industry and strong market insights well place him to bolster Carlyle's continued growth and success in India," Carlyle Asia buyout team managing director and co-head Greg Zeluck said. ************* Mahindra Logistics appoints Yogesh Patel as CFO * Mahindra Logistics on Monday said it has appointed Yogesh Patel as its chief financial officer. He will take over the reins from Nikhil ..