Page 2709 - Business Finance

Berkshire Hathaway takes stake in Paytm

NEW YORK/MUMBAI (Reuters) - Berkshire Hathaway Inc has picked up a 25 billion rupees ($356 million) stake in the parent of digital payments firm Paytm, a source said, its first investment in an Indian startup as it forays into the financial payments sector.

Asian Star Company Ltd leads losers in 'B' group

Ambition Mica Ltd, BSEL Infrastructure Realty Ltd, Sanghvi Forging & Engineering Ltd and Punjab Communications Ltd are among the other losers in the BSE's 'B' group today, 28 August 2018.

India to double exports by 2025: Suresh Prabhu

The Commerce Minister has already held two meetings with key Ministries for preparing sectoral export strategies which are being finalized. Federation of Indian Export Organisations (FIEO) has done a study identifying 100 billion exports in traditional, new markets and products. EXIM has conducted market research and draft export strategy is being prepared.

European shares reach two-week high after NAFTA deal; autos rally

LONDON (Reuters) - European shares rallied on Tuesday after the United States and Mexico reached a trade agreement, with autos enjoying another day of gains on an otherwise quiet day for company news.

China struggles to curb its reliance on US buyers, suppliers

Faced with plunging US orders, surgical glove maker Ren Jiding is hunting for new markets amid Chinese government calls to reduce reliance on the United States. But none can absorb the 60 per cent of his sales that went to American customers last year. "Other countries import much less than the United States," said Ren, a co-owner of Hongyeshangqin Medical Science and Technology Co., Ltd. in the eastern city of Zibo. From medical products to smartphone chips to soybeans, Beijing is responding to President Donald Trump's tariff hikes by pushing companies to trade more with other countries. But there are few substitutes for the United States as an export market and source of technology for industries including telecom equipment makers Chinese leaders are eager to develop. Beijing has announced tariff cuts and other changes while rejecting U.S. demands to scale back plans such as "Made in China 2025," which calls for state-led creation of Chinese champions in robotics, biotech and other .

Volumes spurt at Gujarat Pipavav Port Ltd counter

Gujarat Pipavav Port Ltd notched up volume of 34.5 lakh shares by 14:14 IST on NSE, a 19.61 fold spurt over two-week average daily volume of 1.76 lakh shares

Apollo Global Management funds to buy Aspen Insurance for $2.6 billion

(Reuters) - Aspen Insurance Holdings Ltd said on Tuesday certain funds affiliated to alternative investment manager Apollo Global Management LLC will take the insurer private in an all-cash transaction valued at $2.6 billion.

Toyota investing $500 mn in Uber to boost self-driving cars

In a major boost to the development and deployment of self-driving vehicles, Japanese multinational automotive maker Toyota has announced that it was investing $500 million in ride-hailing giant Uber.

Sensex, Nifty hover near day's high

Key equity indices were trading near day's high in mid-afternoon trade. At 14:18 IST, the barometer index, the S&P BSE Sensex, was up 179.36 points or 0.46% at 38,873.47. The Nifty 50 index was up 41.45 points or 0.35% at 11,733.40. Both Sensex and Nifty were hovering near their all-time highs hit in early trade.

China Evergrande H1 core profit doubles as more properties delivered

HONG KONG (Reuters) - China Evergrande Group, the country's second-largest property developer by sales, said on Tuesday its first-half core profit more than doubled to a record high, boosted by more properties delivered and helped by lower expenses.

Global Markets: World stocks hit six-month high as NAFTA deal eases trade war fears

LONDON (Reuters) - World stocks rose to a six-month high on Tuesday, lifted by investor optimism that a U.S.-Mexico deal to overhaul the North American Free Trade Agreement will go some way to averting a global trade war.

African Development Bank team up to boost agriculture sector

Rome, Aug 28 (IANS/AKI) The African Development Bank (AfDB) and FAO have agreed to raise up to $100 million over five years to support partnerships to catalyse agricultural investment in Africa, end hunger and malnutrition and lift millions from poverty across the continent.

Gold extends gains on jeweller-buying, global cues

Gold rose by Rs 150 to Rs 31,150 per ten gram at the bullion market today on steady buying by local jewellers, driven by ongoing festive season demand and positive global cues. Silver too gained Rs 170 to Rs 38,470 per kg due to increased offtake by industrial units and coin makers. Traders said sentiment remained strong on the back of continuous buying by local jewellers to meet the festive season demand. Moreover, positive global cues as dollar eased against its rival currencies overseas, raising the appeal of the precious metals as a safe haven asset, supported the uptrend in gold. Globally, gold was up 0.02 per cent to USD 1,211 an ounce and silver by 0.07 per cent to USD 14.87 an ounce in Singapore today. In the national capital, gold of 99.9 per cent and 99.5 per cent purity gained Rs 150 each to Rs 31,150 and Rs 31,000 per ten gram, respectively. The metal has gained Rs 380 in last three days. Sovereign gold, too, traded higher by Rs 100 at Rs 24,600 per piece of eight gram. In

Finmin seeks applications for post of MD of NHB after Kalyanaraman's exit

The Finance Ministry has invited applications for the post of Managing Director at National Housing Bank following the exit of Sriram Kalyanaraman, against whom the government has ordered investigation. The investigation was ordered earlier this month into alleged irregularities and misconduct by Kalyanaraman. There are allegations that Kalyanaraman was involved in objectionable activities at NHB's Delhi guesthouse. There are allegation of irregularities in campus placements besides various irregularities in refinance. Kalyanaraman was appointed as MD & CEO for a period of five years in 2015. Before this he was Director-Business Development at Equifax Credit Information Services Pvt Ltd. As per the public notice, the eligible candidate should have at least 25 years of experience as on the date of vacancy in different verticals in commercial banks or financial institution. Of this, 2 years of experience should be either at the board level or GM in nationalised banks or CGM in IFCI,

Lupin Ltd up for fifth straight session

The stock is quoting at Rs 912.75, up 0.21% on the day as on 12:44 IST on the NSE. Lupin Ltd is down 7.74% in last one year as compared to a 19.94% spurt in NIFTY and a 14.57% spurt in the Nifty Pharma.

Indian renewables sector to see strong growth, favourable policy support: Report

Renewables sector in India is expected to see strong growth and favourable policy support going forward as traditional fossil fuel power projects are facing growing transition risks, an HSBC report says. According to the global financial services major, the solar sector will continue to receive favourable policy momentum, especially given India's leadership role in the International Solar Alliance. "Given the woes (financial and operational) facing the coal power sector and rapidly falling renewable energy generation costs, we believe renewables in India will continue to see strong growth and expect favourable policy support," HSBC said in a research note. Investment in the power sector in India is important to maintain economic growth and also to improve the livelihoods of large sections of the population which are still without electricity. Coal now forms one-third of total installed generation capacity, but some projects are unable to sustain themselves due to issues including the .

Indices trading on a firm note

Firmness prevailed on the bourses in afternoon trade on sustained demand in index pivotals. At 13:25 IST, the barometer index, the S&P BSE Sensex, was up 190.60 points or 0.49% at 38,884.71. The Nifty 50 index was up 51.35 points or 0.44% at 11,743.30. Both Sensex and Nifty were hovering near their all-time highs hit in early trade.

Equity indices touch new highs; auto stocks zoom

Positive global cues pushed the key domestic equity indices to new intra-day high levels on Tuesday.

Google Station to roll out Wi-Fi services in Andhra Pradesh

Google today said it has partnered Andhra Pradesh State FiberNet Ltd (APSFNL) to bring Google Station to over 12,000 villages, a move that will provide Internet access to about 10 million people. The tech giant has also rebranded its 'Tez' as 'Google Pay' as part of its efforts to take the digital payments app to more online and retail merchants across the country. "Building for India has helped Google build for everyone all around the world... Our partnership with RailTel is an example where millions of people are accessing Internet from hundreds of railway stations in India. "We have also taken Google Station to other countries like Indonesia, Nigeria, Thailand and Mexico," Google General Manager (Next Billion Users initiative and Payments) Caesar Sengupta said. Previously, Google had partnered RailTel to offer Wi-Fi access across 400 railway stations in the country. "We have partnered APSFNL. We expect to start rolling out services by the end of the year with cities like Vijayawada

Jet Airways (India) advances after declaring Q1 result

Jet Airways (India) rose 2.11% to Rs 287.50 at 12:58 IST on BSE after the company declared its Q1 June 2018 result after market hours yesterday, 27 August 2018.