Page 2685 - Business Finance
Foodpanda to hire 60,000 delivery riders in next 2 months
Online food ordering and delivery platform Foodpanda India today said it is planning to hire 60,000 delivery riders in the next two months to ensure seamless delivery experience. The company is also aiming to increase its order volume substantially by creating a seamless food ordering experience and supporting it with robust delivery logistics, Foodpanda said in a statement. Commenting on the plans, Foodpanda CEO Pranay Jivrajka said, "We understand that there is a constant need to scale up logistics to meet the growing needs of the business and to address that, we will be hiring 60,000 riders in a short span of two months." The company also aims to establish strategic and long-term relationships with partner restaurants and constantly add more restaurants to the platform, it added. "We are going to actively leverage Ola's technology and logistical prowess to ensure that we deliver a seamless and delightful food experience to millions of customers," Jivrajka said. The company has also
RInfra spurts after selling power utility business
Reliance Infrastructure surged 5.52% to Rs 463 at 14:25 IST on BSE after the company announced the successful completion of the sale of its 100% shareholding in Integrated Mumbai Power Distribution Business to Adani Transmission.
Signet Industries Ltd leads losers in 'B' group
Ganges Securities Ltd, Prajay Engineers Syndicate Ltd, Khaitan (India) Ltd and Eurotex Industries and Exports Ltd are among the other losers in the BSE's 'B' group today, 30 August 2018.
Xiaomi leads Indian wearables market in Q2: IDC
Xiaomi led the Indian wearables market with a 46 per cent share and 31 per cent quarter-over-quarter (QoQ) growth as shipments crossed the one million mark in the second quarter of 2018, International Data Corporation (IDC) said on Thursday.
Volumes jump at Greaves Cotton Ltd counter
Greaves Cotton Ltd witnessed volume of 69.33 lakh shares by 14:14 IST on NSE, a 21.38 times surge over two-week average daily volume of 3.24 lakh shares
Sensex, Nifty hover near day's low
The Sensex and the Nifty were trading near day's low in mid-afternoon trade. At 14:16 IST, the barometer index, the S&P BSE Sensex, was down 104.12 points or 0.27% at 38,618.81. The Nifty 50 index was down 38.30 points or 0.33% at 11,653.60.
China says trade talks with U.S. should be based on 'equality'
BEIJING (Reuters) - China said on Thursday that trade issues with the United States can only be resolved through talks as equals, and it will press on with the steady opening of its economy regardless of U.S. actions.
Uplodefoodie expands operations in Bangalore
SaaS-based restaurant management service provider Uplodefoodie has announced expansion of its operations into Bangalore.The B2B2C service provider, which offers simple and powerful restaurant management solutions, is planning to on-board numerous top-rated hotels and restaurants to its list of clients.Uplodefoodie has already partnered with over 110 establishments including hotels, casual dining restaurants, fine dining restaurants, and QSRs. Uplodefoodie's current list of clients includes over 50 luxury hotel properties and over a hundred QSRs."We are thrilled to reach this new milestone. Bangalore is India's hub of tech-enthusiasts who appreciate breakthrough innovations in the industry. The city's fast-paced population perfectly replicates the young and dynamic demographic we targeted in Pune," said CEO and founder Uplodefoodie, Yogesh Ghorpade."We are confident that our solutions will catch the eye of the individuals in the rapidly-growing F&B sector who would massively ...
Gold firms up on jewellers' buying, global cues
Gold shot up by Rs 120 to Rs 31,200 per 10 gram at the bullion market today due to increased buying by local jewellers amid a firm global trend. However, silver held steady at Rs 38,300 per kg on scattered enquiries from industrial units and coin makers. Traders said gold rose on increased buying by local jewellers to meet the ongoing festive season demand and a firm global trend. Globally, gold was up by 0.48 per cent to USD 1,206.30 an ounce and silver by 0.24 per cent to USD 14.73 an ounce in New York in yesterday's trade. Moreover, a depreciating rupee which plunged to a fresh record low of 70.82 against the dollar (intra-day), making imports costlier, supported the upmove, they said. In the national capital, gold of 99.9 per cent and 99.5 per cent purity rebounded by Rs 120 each to Rs 31,200 and Rs 31,050 per 10 gram, respectively. It had shed Rs 70 in yesterday's trade. Sovereign gold however remained flat at Rs 24,500 per piece of eight gram. On the other hand, silver ready ...
Winter ahead: China private equity industry faces turbulence after debt clampdown
HONG KONG (Reuters) - China's private equity industry is cooling, with fundraising on course for one of its worst years since the global financial crisis and returns under pressure, hurt by tighter domestic liquidity following Beijing's war on debt and Sino-U.S. trade tensions.
Educate Girls announces results of Development Impact Bond
Educate Girls, an award-winning non-profit organisation working in educationally backward regions of India, launched the results of the world's first 'Development Impact Bond' (DIB) in education in Delhi today in the presence of Adil Zainulbhai, Chairman, Quality Council of India.Launched in Bhilwara, Rajasthan, in 2015, the Educate Girls DIB is the world's first operational development impact bond in education. The program covered 166 schools across 140 villages in Bhilwara and has impacted over 7,000 children over the course of three years. The DIB measured progress against agreed targets for the number of out-of-school girls enrolled into primary and upper primary schools as well as the progress of girls and boys in English, Hindi and Math.Final results show that the Educate Girls DIB surpassed both the target outcomes to achieve 116 per cent of the enrolment target and 160 per cent of the learning target. The success of this project has demonstrated that innovative, outcome-based .
China heading towards serious food crisis, says research
China's declining summer grain production indicates the country is heading towards a serious food crisis, says Chinascope, a U.S.-based media research entity.Quoting a research by well-known Chinese economist, Ye Tan, who recently published an article that has been circulating on the Internet, Chinascope said: "On July 18, the national summer grain production data that the National Bureau of Statistics released showed that the total summer grain production was 138.72 million tons in 2018, down by 3.0 per cent or 3.06 million tons from 2017. On August 10, the Committee of the Market Early Warning Experts of the Ministry of Agriculture and Rural Affairs released an analysis of the supply and demand situation as to China's agricultural products in August 2018. The analysis predicted a shortage of corn production from 2018 to 2019 with the ending balance down by 17.75 million tons. The gap had grown from the previous year.""In addition, as of August 15, the projected wheat purchase in the
Timken India gets NCLT approval for scheme of amalgamation
Further, both Timken and ABC have filed the certified copies of the NCLT orders with jurisdictional Registrar of Companies (({ROC") at Bengaluru and Mumbai respectively. The Effective Date of the Scheme is 30 August 2018.
Sodexo offers new festive gift cards to corporate staff
Indian corporates are not cutting their budget for cash-loaded gift cards to their employees that enable them to buy whatever they want, said a senior official from Sodexo India.
Tata Steel to operate out of the Sahibabad facility of Bhushan Steel
Tata Steel said today that it will operate out of the Sahibabad facility of Bhushan Steel, which it has taken over under the insolvency resolution process, as it does not want to retain the office of the debt laden firm in the national capital. "We don't feel the need to have that office in Delhi," the company's steel business President Anand Sen told PTI. He was responding to a query whether Tata Steel has terminated annual rental contract which former promoter of the debt-laden firm Neeraj Singal had for the lease of its corporate office in New Delhi. "We will be operating out of the Sahibabad facility. There is an existing Bhushan Steel facility which has enough space so we don't need the office (in Delhi)," he said. When asked as to how much the company will save from this move, he said, "No idea". There have been reports that the company may save over Rs 70 crore annually. Meanwhile, Sen said that at its Kalinganagar plant Tata Steel has already commenced that phase II of its ...
India to become fifth largest economy next year: Jaitley
India is on track to surpass Britain next year to become the fifth largest economy in the world and to emerge among the "big three" global economies by 2040, Finance Minister Arun Jaitley said on Thursday.
Piramal Enterprises Ltd up for five straight sessions
The stock is quoting at Rs 3124.9, up 0.17% on the day as on 12:44 IST on the NSE. Piramal Enterprises Ltd is up 15.15% in last one year as compared to a 17.72% gain in NIFTY and a 14.27% gain in the Nifty Pharma.
National Aluminium Company Ltd rises for fifth straight session
The stock is quoting at Rs 76.85, up 0.2% on the day as on 12:44 IST on the NSE. National Aluminium Company Ltd is up 6.37% in last one year as compared to a 17.72% jump in NIFTY and a 5.66% jump in the Nifty Metal.
Rupee touches all-time record low of 70.82
Plunging to a fresh low, the Indian currency on Thursday opened at 70.82 versus the US dollar.This slump comes a day after the government said that the Indian rupee was expected to remain in the range of 68 to 70 during this year. In the last few months, Rupee opened at 70.57 a dollar from its previous session of 70.59 but later it was slipped to 70.82 at the Interbank Foreign Exchange (Forex) market, reported the Moneycontrol.On August 16, the Indian Rupee opened at 70.22 versus the US dollar. The Indian currency started off the session on a weak note, hitting a fresh record low of 70.25 against the dollar. Earlier on August 14, after opening at a marginal high of 69.85 against the US Dollar, the Indian rupee touched an all-time low of 70 per US dollar.The currency touched an all-time low of 70.08 against the US dollar while marking depreciation of around 10 per cent in 2018. The fall in rupee was mainly impacted by drop in Turkish Lira, which helped the US dollar to gain strength on
Chana futures hit lower circuit, plunge 4%
Chana prices fell by 4 per cent to hit the lower circuit at Rs 3,754 per quintal in futures trade today as participants booked profits at prevailing levels amid easing demand in the spot markets. Moreover, reports of higher production forecast of kharif pulses amid scattered buying by millers in local wholesale market also exerted pressure on chana prices. Analysts said besides profit-booking by participants at existing level, higher output forecast and decline in demand in the physical market exerted pressure on chana futures. At the National Commodity and Derivatives Exchange, chana for September fell by Rs 156, or 3.98 per cent, to Rs 3,754 per quintal with an open interest of 60,850 lots. Similarly, Chana to be delivered in October declined by Rs 139, or 3.46 per cent, to Rs 3,880 per quintal in 35,200 lots.