Page 2683 - Business Finance
National Mission on Government e Marketplace (GeM) To Be Launched On 5th September 2018
National Mission on Government e Marketplace (GeM) will be launched on 5th September 2018 to accelerate the adoption and use of GeM by major central Ministries, State Governments and their agencies. The aim of the National Mission is to promote inclusiveness, transparency and efficiency in public procurement and achieve cashless, contactless and paperless transaction. This will increase overall efficiency and lead to cost saving on government expenditure in procurement.
Cosmos Solutions receives USD 950 million for eco-friendly energy product
The new technology patented by Cosmos Solutions Pvt. Ltd., to generate more power from engines using microcontrollers, received a green signal with a private equity of USD 950 million from Linetrust Offshore Ltd. Head of private equity of Linetrust ASEAN, Dr. Sailesh Lachu Hiranandani, who has spared no effort in promoting the development of renewable energy, assured Cosmos Energy that another major investment is on the anvil to promote research and development in the area of this environment-friendly technology.At the function to announce the deal in Port Louis, Mauritius, on Wednesday, August 29, patent owner Nitin Gupta said his company Cosmos Energy is eyeing the USD 240-billion industry and is prepared to cater to the growing need for green energy.Chairman of Linetrust Offshore Limited, operating from Marshall Island with branches across Europe, US, Africa and Asia, Michael Rogers said the disbursal of funds for the project would continue.The Executive Vice President of Cosmos ...
FPIs step up selling
Net outflow of Rs 1379.34 crore on 29 August 2018
IPPB to be opened in all Mizoram post offices
India Post Payments Bank (IPPB) would be opened in all the 383 post offices across Mizoram this year, Post Master General T Man Ming Thang said today. The IPPB will leverage reach of 1.55 lakh post office branches in the country to provide banking and financial service to people in rural areas. Thang said the IPPB would be launched by Prime Minister Narendra Modi on Saturday and 30 IPPBs would be opened across Mizoram by state governor Kummanam Rajasekharan on the same day. He said transactions would be purely paperless and without signature of the account holders. The IPPB services would be available in the remote villages where banks generally do not open branches, Thang told reporters.
China's ZTE posts 1.1 billion first-half loss on impact from U.S. supplier ban
HONG KONG (Reuters) - ZTE Corp reported a first-half net loss of 7.8 billion yuan ($1.1 billion) on Thursday, weighed down by a ban on U.S. firms selling parts to the Chinese telecom equipment maker that forced it to cease operations for three months.
China Market falls ahead of manufacturing data
Investor confidences were remaining weak amid signs of factory activity slowing under pressure from the trade spat with the United States. Activity in China's vast factory sector likely slowed for the third straight month in August as domestic demand remained weak and exporters faced rising uncertainties from the escalating trade war with the United States.
Market ends with small losses
Key benchmark indices ended with small losses on negative global stocks. The barometer index, the S&P BSE Sensex, fell 32.83 points or 0.08% to settle at 38,690.10. The Nifty 50 index fell 15.10 points or 0.13% to settle at 11,676.80.
Quick Wrap: Nifty FMCG Index records a surge of 1.28%
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'Bade Bano Bade Chalo' with Home Credit India
Home Credit India Finance Pvt. Ltd., one of India's fastest growing non-banking financial companies (NBFCs), has unveiled its new brand campaign, "Bade bano bade chalo" which encourages customers to rise up when taking loans, especially if they are hesitant in borrowing from family and friends.The company conducted a research to gauge the thinking pattern of people when it comes to taking loans for their needs and aspirations.The campaign communicates relatable instances from daily lives of customers and reinforces Home Credit's positioning as a responsible lender and an active participant in the communities where it operates. It also showcases Home Credit's role in helping the customers to be financially literate and encourages them to avail safe, easy and quick loans from financial institutions."Customer is at the center of our new brand initiative 'Bade bano bade chalo.' The campaign reinforces Home Credit's commitment towards Responsible Lending. We focus on first-time borrowers ..
EditMeet launches digital interface for media communications
EditMeet Media Services has announced the formal launch of its easy-to-use digital interface for media communications.After a successful beta launch of its platform, where more than 250 businesses, PR and Corporate Communications professionals signed up and are actively using the services.It is launched with additional features to provide analytics for every campaign.The analytics enables businesses to better understand the impact of their campaign thereby enabling them to further evolve the campaign strategy.EditMeet is designed with an interface that is extremely easy to use. A user simply needs to post the press release, and an exclusive dashboard is created. The user can manage all their existing press releases, and issue new press releases from the dashboard. Once the user submits the press release, the proprietary automated system of EditMeet shares the press release with a large network of media partners. The user can access the coverage post 24 hours on the ...
NCLT approves Idea-Vodafone merger: TV
(Reuters) - National Company Law Tribunal (NCLT) has approved the merger of Idea Cellular Ltd and the Indian unit of Vodafone Group Plc, according to television channels.
Global Markets: Stock market's advance grinds to a halt on China concerns
LONDON (Reuters) - Stock market gains came to a grinding halt on Thursday, held back by concern that China will be left behind as the United States nears trade agreements with other North American countries and Europe.
United Airlines eyes business travelers as it boosts European flights in 2019
MONTREAL (Reuters) - United Airlines on Thursday will announce three new daily routes to Europe as the third largest U.S. carrier eyes higher-paying business travelers on transatlantic flights.
'Eyeing Rs 3-4 lakh cr of public procurement through GeM platform in 2-3 yrs'
Public procurement worth Rs 3-4 lakh crore is expected to take place through the commerce ministry's online marketplace in the next 2-3 years, an official said today. At present, online platform Government e-marketplace (GeM) has crossed Rs 10,800 crore mark in terms of value of transactions. The ministry launched the GeM in August 2016 with the objective of creating an open and transparent procurement platform for government agencies. GeM Chief Executive Officer Radha Chauhan said that besides different central ministries, state governments and public sector units are procuring goods and services from this platform. Going by the pace, she said that the marketplace would give good competition to other global online players like Flipkart and Amazon in the coming years. "We are eyeing Rs 3-4 lakh crore of public procurement through GeM in 2-3 years," she told reporters here. GeM is claiming it has the potential to cover fiscal deficit in the next 4-5 years as government departments and .
Hong Kong Market falls on profit booking
Blue chips were mixed at spot month futures settlement day. Ping An Insurance (02318) nudged up 0.5% to HK$76.25. Tencent (00700) dipped 0.9% to HK$357.2. China Mobile (00941) put on 0.4% to HK$73.5. AIA (01299) fell 0.9% to HK$67.85.
Exclusive: Goldman-backed Riverstone readies for make-or-break fundraising - sources
(Reuters) - Riverstone Holdings LLC, an energy-focused buyout firm backed by Goldman Sachs Group Inc, is laying the groundwork to raise a new flagship fund, indicating to investors it may target $5 billion in capital, people familiar with the matter said.
China will roll out new measures to support economy: cabinet
BEIJING (Reuters) - China will roll out new measures to support the economy, state radio said on Thursday after a meeting of the country's cabinet.
Mahindra tops JD Power tractor service satisfaction ranking
Mahindra has been ranked the highest in tractor customer satisfaction with after-sales service experience, according to a survey by JD Power. Mahindra group firm Swaraj was ranked second followed by John Deere. The study based on responses from 3,835 tractor owners across 14 states ranked Mahindra the highest in satisfaction in the after-sales service experience with a score of 831 based on a 1000-point scale. Mahindra Swaraj scored 825 points while John Deere stood third with 822 points, as per the JD Power 2018 India Tractor Customer Service Index (CSI) study. The study took into consideration eight brands and the industry average for customer satisfaction was at 818 points. The survey was conducted during January-May 2018 and included owners who purchased a new tractor between January 2016 and May 2017. It noted that offering repair and maintenance service at owner's premises increased customer satisfaction. "Customer satisfaction with tractor after-sales service is higher (up 28 .
President Kovind lauds IRS for making GST a 'success'
President Ram Nath Kovind on Thursday met a group of probationers from the 68th batch of Indian Revenue Service (Custom and Central Excise) and lauded them for making the Goods and Service Tax (GST) a success.Addressing the probationers, the President said, "In 2017, Government introduced the GST, the most comprehensive tax reform the nation has seen. It was Indian Revenue Service (Customs and Central Excise) that had the responsibility of making sure that this mega reform was implemented across the nation and the tax assesses were properly educated about the new tax system. It is a matter of satisfaction that the GST regime has been implemented with success ushering in a progressive tax structure that will benefit the economy and honest tax payers," he said.President Kovind further said that it is the primary duty of the Indian Revenue Service officers to ensure that the country has the tax resources to fund different aspects of national development."Taxes have been the building ...
Panasonic to move Europe HQ from UK to Amsterdam
Japanese multinational electronics company Panasonic will move its European headquarters from the UK to Amsterdam in the Netherlands in October as Brexit approaches.