Page 2724 - Business Finance
Board of South India Projects approves bonus issue of 4:1
At meeting held on 25 August 2018
GMR Infrastructure lays foundation stone of proposed GMR Krishnagiri Special Investment Region
GKSIR will be developed in an area of 2100 acres in Denkanikottai, Hosur and Shoolagiri taluka's of Krishnagiri district. Through the SIR, GMR plans to unlock the value of the land in the district and thereby attract companies to invest in activities like manufacturing, services, commercial, education, research & development, skill development & training, tourism & hospitality, health, housing, entertainment etc.
GE Power India announces closure of Maneja Plant
With effect from 27 August 2018
Market may rise at opening bell
Market is seen opening higher mirroring positive cues from global markets. Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 37 points at the opening bell.
Struggling Noble Group faces crucial vote for $3.5 billion restructure
SINGAPORE (Reuters) - Noble Group Ltd faces a key shareholder meeting on Monday as the shrivelled commodity trader races to clinch a last-ditch $3.5 billion debt restructuring deal to stay afloat and put a three-year crisis behind it.
China's July industrial profits up 16.2 percent but slow from June
BEIJING (Reuters) - Profits earned by China's industrial firms rose 16.2 percent in July from a year earlier, slowing from 20.0 percent in June, the statistics bureau said on Monday.
Oil stable as U.S.-China trade row weighs, Iran sanctions cut supply outlook
SINGAPORE (Reuters) - Oil prices dipped slightly on Monday on concerns that a U.S.-China trade dispute will erode global economic growth, although looming U.S. sanctions against Iran's oil sector kept crude from falling further, traders said.
Asian shares rise after record highs on Wall Street
SHANGHAI (Reuters) - Asian shares rose early on Monday, taking support from Wall Street's gains on Friday after U.S. Federal Reserve Chairman Jerome Powell said a gradual approach to raising rates was best to protect the U.S. economy and job growth.
Series of reforms transformed economy: Jaitley
Finance Minister Arun Jaitley has cited IMF reports to highlight how the Narendra Modi-led government through a series of reforms has transformed the "weak economy" it inherited from the UPA government. Jaitley, in a Facebook post, said an analysis of what the IMF had to say in 2014 was very clear -- high inflation, high fiscal deficit, high current account deficit, a standstill infrastructure, power sector, allocation of natural resources. The report of 2014 talks about weak economy during the UPA government and the latest points at near-term macroeconomic outlook broadly favorable and growth forecast rising to 7.3 per cent in FY 2018-19, he said. "We have come a long way. The last four years have seen a series of reforms, both legislative and otherwise, which have been carried at by the government," he said. "The system has been substantially cleaned up and made more transparent. Decisiveness has led to easier decision-making and made the economy stand out before several other ...
Modi government has pushed economy in dire straits: Congress
The Congress on Sunday said that the Narendra Modi government had upturned a rising economy and left it in "dire straits" with its "ad hoc and myopic economic policies".
Petrol, diesel prices witness hike on Sunday
Fuel prices witnessed a hike on Sunday with petrol being sold at Rs 77.78 per litre in Delhi and at Rs 85.20 per litre in Mumbai, as per the data provided by the Indian Oil Corporation.The cost of petrol in Kolkata now is Rs 80.71 per litre, while it is retailing at a price of Rs 80.80 per litre in Chennai.The hike was not limited to petrol alone as diesel prices also saw an all-time-high record price in the national capital. In Delhi, the diesel prices have been increased to Rs 69.32 per litre, while the fuel can be purchased at Rs 73.01 per litre in Mumbai.In Kolkata, diesel is retailing at a price of Rs 72.16 per litre while in Chennai the fuel is being sold at Rs 73.23 per litre.
GE Power India to shut Gujarat factory from Monday
NEW DELHI (Reuters) - GE Power India, a unit of General Electric, will shut its Maneja manufacturing plant in Gujarat from Monday, a company statement said.
Corp Affairs Min seeks details from crisis-hit Jet Airways
The corporate affairs ministry has sought details from crisis-hit Jet Airways about certain issues as well as from its auditors on the postponement of quarterly results, a senior official said. The full service carrier, whose board is scheduled to consider the financial results for the June quarter tomorrow, is exploring ways to reduce costs amid financial woes. A senior ministry official said the Registrar of Companies (RoC) has asked for details from the airline about certain issues and that the process is going on. Specific details could not be immediately ascertained. To a query on whether the airline has received queries from the RoC regarding financial issues and delay in announcement of quarterly results, a Jet Airways spokesperson said "it has not received anything in this regard". Information has also been sought from the airline's auditors against the backdrop of the airline deferring the announcement of June quarter results, he added. With respect to Jet Airways, the RoC ...
Blog writing can't increase investment: Congress to Jaitley
The Congress claimed today the "ad hoc" policies of the BJP-led government at the Centre has put the Indian economy in "dire straits", and took a dig at Finance Minister Arun Jaitley, saying writing blogs cannot increase investment. In a series of tweets, AICC in-charge of communications Randeep Singh Surjewala alleged the manner in which the Modi government has sought to "suppress 'back series'" of GDP report and attempted to distort them, is now out in the open. "Truth has a way of coming out and cannot be ever suppressed. Jaitley ji, your Govt has left our economy to dire straits ... investment is in doldrums," Surjewala said. The GDP Back Series Report 2011 was made public earlier this month. According to the draft report, the economy recorded a 10.08 per cent growth rate in 2006-07 under then Prime Minister Manmohan Singh, the highest since liberalisation of the economy in 1991. The government has said the report was an unofficial document that has not been accepted by it. It has
Read IMF report on progess under NDA: Jaitley
Referring to the latest International Monetary Fund (IMF) report on India, Finance Minister Arun Jaitley on Sunday said that it was only with NDA coming to power in 2014 that the economy had undergone a transformational change.
Germany's public debt could fall below EU ceiling this year: Scholz
BERLIN (Reuters) - Germany's public sector debt could fall below the European Union's debt ceiling before the end of the year, Finance Minister Olaf Scholz said on Sunday, after figures this week showed a booming economy was generating a record surplus.
Jaitley cites IMF report to highlight economic growth under Modi Govt
Finance Minister Arun Jaitley on Sunday drew a comparison between 2014 and 2018 International Monetary Fund (IMF) staff reports in order to highlight the economic growth and transformation that took place under Prime Minister Narendra Modi government.Citing the report, which he says, is produced with consultations with various experts after analysing the economic data, Jaitley in his blog stated, "An analysis of what the IMF had to say in 2014 as against 2018 is very clear - high inflation, high fiscal deficit, high current account deficit, a standstill infrastructure, power sector, allocation of natural resources. We have come a long way."He further emphasised on the decisiveness and transparency of the ruling dispensation and added, "The last four years have seen a series of reforms, both legislative and otherwise, which have been carried at by the Government. The system has been substantially cleaned up and made more transparent. Decisiveness has led to easier decision making ...
Jet Airways staff assoc flags concerns; seeks clarity on airline problems
Amid Jet Airways battling financial problems and coming under the regulatory scanner, an employees' union of the airline has sought clarity from the management on the issues that have led to the current situation. Flagging concerns, the Jet Airways Staff and Officers' Association, which claims to have around 10,000 members, has written to CEO Vinay Dube seeking a meeting with him to have a comprehensive understanding of the factors. In a letter to the CEO, the association has also complained that the management was wasting financial resources on "inefficient" operations and hiring of foreign pilots. The letter, written last week, comes against the backdrop of the crisis-hit airline deferring announcement of June quarter results, exploring cost-reduction ways, coming under the regulatory lens for alleged corporate governance lapses and talks of a possible pay cut for the employees. Meanwhile, aviation regulator DGCA is to start safety audit of the airline tomorrow, sources said. The ...
Industry body urge TN govt to roll back MOTD hike
The Coimbatore Sidco Industrial Estate Manufacturers Welfare Association (COSIEMA) today urged the Tamil Nadu government to roll back the increase in the Memorandum of Title Deeds (MOTD) charges for bank loans. The state government has increased the MOTD charges for bank loans from Rs 25,000 to Rs 30,000, despite demands from the industry to reduce it to Rs 10,000, COSIEMA President, S Surulirajan said in a statement here. "But now all of a sudden without any reason this charge has been increased to Rs 30,000," he said and appealed to the government to revise the charge. The association also requested the government to consider charging only Rs 10,000 for Small and Tiny Industries on the basis of Udyog Adhar, Surulirajan said.
1-in-6 people check emails while watching TV: Survey
Despite the increased intrusion of social media in our lives, love for emails remains strong with 60 per cent people checking their mail inbox even while watching TV, finds a survey.