Page 2657 - Business Finance
Indonesia to work with Alibaba's Jack Ma to increase exports: minister
JAKARTA (Reuters) - Indonesia will partner with Alibaba's CEO Jack Ma to look into ways to use Alibaba's ecosystem to increase its exports, particularly to China, its communications minister told Reuters on Sunday.
'Why were people made to suffer during demonetisation?'
Congress leader Shashi Tharoor on Sunday said that the Bharatiya Janata Party (BJP)-led government should reconsider on what grounds they wanted to talk about the Indian economy, citing the recent Reserve Bank of India (RBI) report that stated 99.3 per cent of the demonetised currency notes were back to the banking system.He said, "People were made to go through such difficulty because of demonetisation, and 99.3 per cent of the demonetised currency is back, does the government have any answer as to why people were made to suffer?"He further underscored that the economic indicators reflect that the Indian economy is suffering under the regime of the National Democratic Alliance (NDA). Tharoor said, "When you see the Gross Domestic Product figures, you notice that growth was more under United Progressive Alliance than under the NDA. Look at all the figures, such as inflation. Even the price of gas cylinders has increased. On what grounds does the government want to talk on economy? We .
Delhi, Puducherry & Meghalaya consistently focussed on health expenditure: PHD Chamber research
Delhi, Puducherry and Meghalaya have "consistently focussed" on health expenditure between 2001 and 2017, while states like Madhya Pradesh and Bihar "have not spent much" on health during that period, a research study by an industry body has claimed. The PHD Chamber of Commerce & Industry has based its findings on a research analysis of the expenditure done by various states during two different periods -- 2001-2008 and 2009-2017. "The health expenditure of Delhi as percentage of aggregate expenditure increased significantly to 9.6 per cent (average during 2009-2017) from 7.1 per cent (average during 2001-2008) with the improvement of 2.5 percentage points," according to the study. The PHD Research Bureau released the analysis of the study on Saturday. In July 2015, Delhi Chief Minister Arvind Kejriwal had asserted that education and healthcare were Delhi government's topmost priority, and the expenditure in the two sectors was an investment. "We consider the money being spent on .
BJP eyes political gains with Maha corporations' appointments
The ruling BJP is looking at making political gains by filling vacant posts in statutory corporations and semi-government bodies with leaders freshly inducted from other parties. The BJP Saturday inducted Haji Arafat, the chairman of the Shiv Sena Transporters' Union, and appointed him as the head of the Maharashtra State Minority Commission. Arafat had met chief minister Devendra Fadnavis along with BJP's Mumbai unit chief and Bandra MLA Ashish Shelar late Saturday evening. Arafat, over the past few days, has been vocal about his disappointment with the Sena and this was being seen as an indicator that he was keeping his political options open. A BJP functionary said that the party was looking to invade the workers union turf, a stronghold of the Sena, by inducting Arafat. In another move, sitting NCP MLC Narendra Patil was appointed as the chairman of Annasaheb Patil Economic Development Corporation. Patil has been seen sharing the dais with Fadnavis several times in ..
Give details of NPAs under NDA government, Chidambaram tells Modi
Former Finance Minister P. Chidambaram on Sunday slammed Prime Minister Narendra Modi for his remarks about bad loans generated during UPA rule, and asked his government to disclose loans given during the NDA rule that turned into Non-performing assets (NPA).
SpiceJet appoints Travel ETS Avia as its GSA in Israel
Budget carrier SpiceJet has appointed Travel ETS Avia as its general sales agent (GSA) in Israel. GSA is a sales representative for an airline, responsible for selling all products including tickets and cargo services in a specific country or region where the airline does not operate. At present, government-run Air India is the only domestic carrier which flies to Israel with four-times a week services to Tel Aviv from New Delhi. SpiceJet, which is the second largest budget carrier after IndiGo, forged the partnership with Travel ETS Avia last month, according to a source. "Travel ETS Avia has been appointed as the main sales agent of SpiceJet in Israel," the source said. When contacted, SpiceJet spokesperson did not comment on the developments. The new development will open an attractive avenue for tourists and businessmen visiting India from Israel, according to the source. Travel ETS Avia is a part of the Israel-based family- owned consortium Ophir Tours, which is ...
'Developing border infrastructure can foster India-Bangladesh economic prosperity'
The economic prosperity of India and Bangladesh could be improved by developing border infrastructure and removing basic trade barriers, top politicians and experts said at a seminar here on Sunday.
Saudi sovereign fund appoints ex-CEO of Dow Chemical as special adviser
DUBAI (Reuters) - Saudi Arabia's sovereign fund has named Andrew Liveris, the former chairman and chief executive of Dow Chemical, as a special adviser, in its highest-profile appointment of any global manufacturing executive.
Scoreboard on the fourth day in the fourth Test between India and England.
Scoreboard on the fourth day in the fourth Test between India and England. England first innings 246 India first innings 273 England second innings A Cook c Rahul b Bumrah 12 K Jennings lbw Shami 36 M Ali c Rahul b Ishant 9 J Root run out (Shami) 48 J Bairstow b Shami 0 B Stokes c Rahane b Ashwin 30 J Buttler lbw Ishant 69 S Curran run out (Ishant/Pant) 46 A Rashid c Pant b Shami 11 S Broad c Pant b Shami 0 J Anderson not out 1 Extras (b-7, lb-2) 9 Total (in 96.1 Ov) 271 Fall of Wickets: 1-24, 2-33, 3-92, 4-92, 5-122, 6-178, 7-233, 8-260, 9-260, 10-271. Bowlers: R Ashwin 37.1-7-84-1, J Bumrah 19-3-51-1, Ishant 15-4-36-2, Shami 16-0-57-4, Hardik 9-0-34-0.
Jet Airways starts Vadodara-Indore daily direct flight
) Private carrier Jet Airways commenced Sunday its daily direct flight services to Indore from here in Gujarat. With the launch of these services, the number of flights operated from the Harini airport here now stands at 23 per day. The introduction of the Vadodara-Indore flight is a part of the Jet Airways' plans to roll out 28 new services this month to cater to the rising demand for domestic and international travel in emerging cities. Vadodara airport director Charan Singh said budget carrier IndiGo is also set to expand its operations from here with a flight to Hyderabad, starting September 15. Jet Airways had announced Wednesday that it will start 28 new flights, including daily services from Indore to Jodhpur and Vadodara this month. The flights include nine "industry first" routes such as those connecting Indore with Jodhpur and Vadodara, it had said. These new services would promote travel and stimulate business activities, especially for small and medium ...
Hike in fuel prices is temporary: Pradhan
Union Minister for Petroleum and Natural Gas Dharmendra Pradhan on Sunday assured that rise in the fuel prices in the country is temporary.He was speaking to the media after attending the inauguration of the Textiles and Plastics Investors Conclave-2018 here. Reacting to the charges leveled by the Congress party, Pradhan claimed that the Congress was making false claims."The Congress party government has left a huge debt on us. The Congress is lying. Today, there is a surge in the price of crude oil in the international market. In the international market, other currencies of the world have weakened in comparison to the dollar, which also has an impact on the Indian currency. Hence, all this is temporary," he noted.Pradhan further said that it was necessary to bring international factors in line to curb the surge in prices. "Both the international factors are not in our hand. OPEC had said to increase the production of oil by one million barrel per day but it has been two months (July
Hindustan Zinc to spend nearly Rs six crore to clean, manage Ajmer Dargah
Hindustan Zinc has signed an MoU with the Ajmer Dargah Committee and Municipal Corporation of Ajmer for spending a sum of Rs 5.68 crore to clean and manage the Ajmer Dargah. The MoU was signed on Saturday in the presence of Minority Affairs Minister Mukhtar Abbas Naqvi at Kayad Vishram Sthali in Ajmer. "Hindustan Zinc has joined hands with the Government of India to convert Dargah Ajmer Sharif into Swacch Iconic Places (SIP) under Swachh Bharat Mission (SBM), a release from the company said. The company is executing the project in 3 phases and in the 1st phase, the company will be investing Rs 5.68 crores that covers establishment of two flower compost making machines, cleaning and basic repair of jhalra, re-flooring in select areas including laying underground pipes for electrical and water supply, procurement of machines for cleaning the floors, risk management system plan, providing drawings for conservation of Nizam Gate and undertaking conservation of Shahjahani Gate, the ...
VMware to comply with Indian government's demand to localise data
VMware, one of the largest enterprise software companies, says it has no problem with the demand by the Indian government to localise the servers used by big service providers to store users' data.
Wipro wins biggest ever contract, over $1.5 billion
NEW DELHI (Reuters) - Indian software services exporter Wipro Ltd won its biggest-ever contract worth more than $1.5 billion with U.S.-based Alight Solutions LLC for digital services, the company said in a statement on Sunday.
RTI applicant in MP asked to pay GST for information
An RTI applicant has been asked to pay the Goods and Services Tax (GST) for getting information from the Madhya Pradesh Housing and Infrastructure Development Board here under the transparency law. Exercising his right to know, anti-corruption activist Ajay Dubey had sought details of expenditure on renovation of office of Real Estate Regulatory Authority (RERA), Madhya Pradesh, from the board. To his surprise, the board asked him to pay Central Goods and Services Tax (CGST) and the States Goods and Services Tax (SGST) at the rate of nine per cent each, according to the official documents. Dubey paid Rs 43 Rs 36 as photocopy charges for 18 pages (at the rate of Rs two per page), Rs 3.5 as CGST and Rs 3.5 as SGST, the documents show. "It is unfair and illegal for a public authority to charge CGST and SGST for supply of information under the Right to Information (RTI) Act. I will appeal against this before the appropriate authority," he told PTI. Finance Minister Arun Jaitley-led GST ..
Schaeffler to expand in India, lines up 40 million euro capex
Rolling bearings and linear products maker Schaeffler India will infuse about 40 million euro for expansion in 2018 and hopes to complete the merger of its group companies by end of the year. Schaeffler has planned a capex of 40 million euro each for expansion in India in 2018 and 2019, Managing Director Dharmesh Arora told PTI. The company follows the calendar year for accounting. The group has three companies in the country -- Schaeffler India Ltd, INA India and Luk India. "INA India and Luk India will merge with Schaeffler India and the process is expected to be completed by 2018," Arora said. The plants of INA in Pune and the Schaeffler India plant (FAG) in Gujarat will be expanded, he said. Arora is optimistic about robust growth from both the automotive and industrial sectors in the next few years, and said Schaeffler is also expected to gain from revenue synergies by bundling product offerings. In the first quarter of calendar year 2018, the company's India ...
Rupee movement, trade tensions to set course of equity indices (Market Outlook)
Escalating geo-political tensions following further trade protectionist measures, coupled with high crude oil prices and the rupee's movement against the US dollar will determine the trajectory of the Indian equity markets in the coming week, analysts said.
International tourism arrivals hit record high in 2017, India leads growth in South Asia: UN report
The number of people travelling abroad hit record levels in 2017 with a total of 1,323 million international tourist arrivals recorded in destinations around the world, with India leading the growth in the South Asian region, according to data from the UN's tourism organisation. The latest edition of its Tourism Highlights shows international arrivals reached 1.323 million last year. The figure represents an 84 million increase over 2016, and a new record, with the sector also recording "uninterrupted growth" in arrivals for eight consecutive years. Europe and Africa led the regions with increases in arrivals, with growth of eight per cent and nine per cent, respectively. The UN World Tourism Organisation (UNWTO, a specialized agency of the United Nations, added that tourism is the world's third largest export category, earning USD 1.3 trillion in receipts in 2017: an increase of five per cent. Meanwhile, total exports from international tourism stood at USD 1.6 trillion, or an ...
Dubai's Emaar Properties to partner with local developers to monetise land bank in India
Sitting on a huge land bank of 4,500 acres across India, Dubai-based Emaar Properties is looking for partners to develop some of the land parcels that it does not intend to construct. Emaar India's new CEO Prashant Gupta said the company has also chalked out plan to launch 7-8 projects in 2019 calendar year, even as its current focus is to complete 10,000 pending units by end of the next year at a cost of about Rs 1,000 crore. "We have a land bank of 4,500 acres across India. We will not sell land as we are not allowed to do so as per the FDI law. We will go for partnership for land parcels which we dont want to develop," he told PTI. Gupta said the company will provide the land to its joint venture partners, who would develop projects on their own brand. "These projects will not be developed under Emaar brand. No co-branding as well," he said, adding that the company would just share revenue with its partners. The company is in various stage of discussion with local developers, he ...
Gems, jewellery exports decline by about 5 pc in Apr-Jul
The country's gems and jewellery exports contracted by around 5 per cent to USD 10.64 billion in April-July this fiscal, mainly on account of demand slowdown in major developed markets. According to the Gems and Jewellery Export Promotion Council (GJEPC) data, exports stood at USD 11.2 billion in April-July period of 2017-18. The labour-intensive sector contributes about 14 per cent to the country's overall export. The decline in shipments is mainly due to negative growth in the export of silver jewellery, gold medallions and coins, along with a rise in the return of consignments. Industry experts said that the dip in exports during the period is because of slow growth in demand but the order books are gradually improving. "Exporters are optimistic that from September, things will start improving as there will be good demand on account of NRI's diwali, Christmas and Thanksgiving in the US," an official in the council said. As per the data, silver jewellery shipments during April-July .