Page 2741 - Business Finance
Amid trade war fears equity indices end at record levels; RIL m-cap over Rs 8 lakh crore (Roundup)
Amid a largely volatile trade, the key Indian equity indices settled at record closing levels on Thursday with marginal gains, supported by healthy buying in capital goods and IT indices.
British Airways to suspend flights between London and Tehran
(Reuters) - British Airways said on Thursday it is suspending flights between London and Tehran because they are not commercially viable.
Gold falls as trade tariffs, rate hike views buoy dollar
LONDON (Reuters) - Gold prices faltered on Thursday, under pressure from a stronger dollar as the U.S. Federal Reserve reaffirmed intentions to raise interest rates and trade tariffs between the United States and China kicked in.
Infinix Mobile to diversify portfolio in 5G, content services
Online smartphone brand Infinix Mobile will diversify into 5G segment and content services in India after making its place among the top five players in the business, the company's managing director Benjamin Jiang said today. The company's parent Transsion with its three brands - itel, Tecno and Infinix - has emerged as the fifth largest player in the Indian mobile phone industry by capturing 4 per cent market share in the first quarter of 2018, according to Counterpoint Research. "The best preparation for future is to make customers happy so that they give try to product second time. We want to be among top 5 online players after which we will diversify business," Jiang said on sidelines on launching Note 5 smartphone. Jiang said the Infinix will diversify portfolio in 5G technology segment in India as well as bring in content services after it achieves the target of becoming top five smartphone sellers online. "We are not just trading, we want to develop phones here. All Infinix ...
No intent to put blanket ban on messaging apps: Secretary
The government has no intention of imposing a blanket ban on messaging applications and is looking for other "technical solutions" to curb instances of fake news and misuse of these apps, a senior official said on Thursday.
Music Broadcast CEO resigns
With effect from 30 September 2018
National Logistics Portal to boost trade competitiveness: Govt
A National Logistics Portal is being developed to ensure ease of trading in the international and domestic markets, as India eyes lowering logistics cost from 14 per cent of GDP to less than 10 per cent by 2022, the Commerce Ministry said today. The portal will link all the stakeholders of export-import, domestic trade and all trade activities on a single platform, thereby generating jobs, increasing trade competitiveness and helping the country transform into a logistics hub, Commerce and Industry Minister Suresh Prabhu said. "The National Logistics portal will be implemented in phases and will fulfil the commitment of the Government of India to enhance trade competitiveness, create more jobs, provide a boost to #DigitalIndia and pave the way for India to become a global #logistics hub," Prabhu tweeted. In this year's budget speech,Finance Minister Arun Jaitley had announced that the Department of Commerce will create a portal which will be a single window online marketplace for ...
China files complaint to WTO against U.S. tariffs
HONG KONG (Reuters) - China has filed a complaint to the World Trade Organisation (WTO) against tariffs slapped by the United States on $16 billion worth of Chinese goods, China's commerce ministry said on Thursday.
Italy says Ilva tender was irregular but Arcelor contract still valid
ROME (Reuters) - Italian Industry Minister Luigi Di Maio said on Thursday that the tender to sell the Ilva steel plant to industry giant ArcelorMittal was illegitimate, but it was not the fault of Arcelor and the sale to the company might still go ahead.
Commerce Ministry developing National Logistics Portal
A National Logistics Portal is being developed to ensure ease of trading in the international and domestic markets, as India eyes lowering logistics cost from14 per cent of GDP to less than 10 per cent by 2022, the Commerce Ministry said today. The portal will link all the stakeholders of export-import, domestic trade and all trade activities on a single platform. "The portal will be implemented in phases and will fulfil the commitment of the Government of India to enhance trade competitiveness, create jobs, boost India's performance in global rankings and pave the way for India to become a logistics hub," the ministry said in a statement. In this year's budget speech,Finance Minister Arun Jaitley had announced that the Department of Commerce will create a portal which will be a single window online marketplace for trade. It will connect business, create opportunities and bring together various ministries, departments and the private sector. Stakeholders like traders, manufacturers, ..
S&P edges up as tech stocks gain; Jackson Hole in focus
(Reuters) - The benchmark S&P 500 edged higher on Thursday as technology stocks rose, though gains were restricted by declines in commodity-related stocks and trade-sensitive sectors after new tariffs took effect in the U.S.-China trade war.
UK competition regulator starts formal probe of Sainsbury's-Asda deal
(Reuters) - Britain's competition regulator on Thursday launched a formal investigation into supermarket group Sainsbury's proposed 7.3 billion pounds ($9.3 billion) takeover of smaller rival Asda, the UK arm of Walmart.
Sebi plans to rope in agency to improve online registration, inspect mkt intermediaries
Regulator Sebi plans to rope in an agency in order to improve the online registration, inspect market intermediaries and enhance the efficiency of the complaint redressal process. In this regard, the Sebi has issued a notice inviting expression of interest (EoI) from the interested parties for carrying out "Knowledge Management (KM) and Business Process Re-Engineering (BPR)". According to the regulator, aim of this EoI is to streamline the registration process, make it more efficient and improve the online registration portal accordingly; and to focus on the automation of inspection process. It will also seek to create new mechanism to achieve complete coverage of inspection of all the intermediaries in efficient, electronic and automated way. Besides, Sebi wants to focus on increasing efficiency in the process of prosecution so that speedy and error free resolution of the case is achieved as well as to improve the complaint redressal process and proper check on regulatory information
BG Asia Pacific Holdings sells 14% stake in Mahanagar Gas
BG Asia Pacific Holdings Pte Ltd, a wholly owned subsidiary of Shell India, today said it has sold 14 per cent stake in CNG retailing firm Mahanagar Gas Ltd in the open market, reducing its holding to 10 per cent. This is the second time in five months that BG Asia Pacific Holdings Pte Ltd (BGAPH) has sold stake in Mahanagar Gas Ltd (MGL). It had in April pared shareholding in MGL to 24 per cent from 32.50 per cent. In a regulatory filing to the stock exchanges, BGAPH said 1.38 crore shares, carrying voting rights of 14 per cent, were sold today. Without giving transaction value, it said the "sale of equity shares (was executed) in the open market by way of a bulk deal". As per bulk deal data available with the NSE, the shares were sold at an average price of Rs 852 apiece, valuing the transaction at Rs 1,176 crore. BlackRock Emerging Frontiers Master Fund, L&T Emerging Business Fund and Schroder International Selection Fund were among the buyers. Following the sale of shares, MGL
H P Cotton Textile Mills fixes record date for dividend
Record date is 22 September 2018
Britons living in EU could lose access to UK bank accounts in no-deal Brexit
LONDON (Reuters) - Britons living in the European Union could lose access to their UK bank accounts and businesses on the continent could be cut off from investment banks in London if there is a no-deal Brexit, the British government said on Thursday.
Unable to auction Taj Mansingh, NDMC relaxes eligibility criteria for bidders
Failing to auction the iconic Taj Mansingh hotel in Lutyen's Delhi in two attempts, the NDMC has decided to relax the eligibility criteria for bidders and reduce the minimum number of bids required. The decision was taken at a council meeting presided over by Chief Minister Arvind Kejriwal today. The auction had to be put off twice as it got less than the required number of bids for the five-star property to go under the hammer, New Delhi MP and NDMC member Meenakshi Lekhi told reporters here. "So, now the minimum number of bids has been reduced from three to two. The minimum turnover eligibility has also has been reduced for bidders. The details will be notified soon," she said. Earlier, the civic body had issued an annulment notice for the e-auction in June when it had to be cancelled since only the Tata Group's Indian Hotels Company Limited (IHCL) - the existing operator - had submitted its bid for retaining the property. The bid for the only other participant, ITC, was not ...
Alibaba revenue beats, but investments prolong margin squeeze
BEIJING (Reuters) - Alibaba Group Holding Ltd, China's biggest e-commerce firm, topped first-quarter revenue estimates on Thursday, but said investments in its food delivery business would continue to weigh on profits.
Japan official says Trump misunderstands trade
Japan's trade minister has told The Associated Press that President Donald Trump's tariff policies reflect a serious misunderstanding of the importance of free trade and Japanese companies' contributions to the US economy. In an exclusive interview with The AP, Hiroshige Seko warned that Tokyo might take action if the US fulfills threats to levy a 25 per cent tariff on Japanese auto imports. He didn't rule out retaliatory tariffs. Seko did not give details of possible options. He expressed concern that trade tensions may harm the global economy. Seko's comments came as the US and China imposed additional tariffs today on billions of dollars of each other's products. He said Tokyo was trying to get Trump to stop thinking Japanese products pose a security threat to the US.
Marriott International's three Loyalty Programs Unify
A new era is beginning for the more than 110 million members of Marriott International's award-winning loyalty programs - Marriott Rewards, The Ritz-Carlton Rewards, and Starwood Preferred Guest (SPG).For the first time since Marriott acquired Starwood Hotels and Resorts in 2016, the programs now operate under one set of unified benefits and one currency spanning the entire loyalty portfolio of 29 brands and more than 6,700 participating hotels in 130 countries & territories. Members are able to seamlessly earn and redeem across the entire loyalty portfolio and achieve Elite status faster with new Elite tiers. Members can now combine their separate program accounts into one at Marriott.com or SPG.com to take advantage of everything Marriott's loyalty programs offer worldwide.Together, the unified programs are richer. Members now earn on average 20 percent more points per dollar spent and have their Elite status recognized consistently at every hotel as they indulge in the elevated