Page 2756 - Business Finance
Tech Mahindra signs deal for acquisition of Inter-Informatics spol. s.r.o.
The deal was signed on 22 August, 2018 and the acquisition is expected to be completed by 15 September, 2018.
Adani Green sets up wind energy subsidiary
Adani Green Energy has set up a wholly-owned subsidiary to generate wind energy. Adani Wind Energy (GJ) Ltd (AWEGL) has been incorporated as Adani Green's 100 per cent subsidiary on August 21, and is yet to commence its business operations. as per a BSE filing. The company has been created at a cost of Rs 1,00,000 (10,000 shares of Rs 10 each).
China Xiaomi's second-quarter revenue soars 68 percent, driven by smartphones, internet devices
(Reuters) - Chinese smartphone maker Xiaomi Inc reported its second-quarter revenue surged 68.3 percent, as strong smartphone sales complemented a jump in revenue at its smaller, but fast-growing connected devices business.
Mitsubishi drives in new Outlander at Rs 31.95 lakh
Japanese automaker Mitsubishi Motors has launched the new version of its premium SUV Outlander in India, priced at Rs 31.95 lakh (ex-showroom Delhi). The seven-seat SUV is powered by a 2.4 litre petrol engine mated with 4-wheel drive CVT automatic transmission, HMFCL said in a statement. Hindustan Motors Finance Corporation Ltd (HMFCL) is the India distributor of Mitsubishi vehicles. "The Outlander has established itself as an outstanding product in the premium SUV segment. With its contemporary new look, the dominant toughness of Outlander has never been more appealing and we believe that it will set new benchmarks in its segment," HMFCL Managing Director Uttam Bose said in a statement. The new engine provides better performance, capability and refinement customers in this premium SUV segment expect, he added. The SUV comes with various features like dual zone AC air filters, electric parking break with auto hold function, sliding sunroof and keyless operation system, among others.
Reliance General Insurance Q1 net up 29.5%
Reliance General Insurance, which has been planning an IPO since last October, today reported a 29.5 per cent growth in net profit at Rs 57 crore in the three months to June on an increase in gross written premium and a stable combined ratio. Gross written premium of the company, a subsidiary of Reliance Capital, rose 23 per cent to Rs 1,571 crore, taking it market share to 8.8 per cent among the private sector players, Rakesh Jain, chief executive said in a statement. The combined ratio, the key profitability gauge, remained flat at 104 per cent in the reporting period. But the same has been steeply declining over the years. It stood at 111 per cent in fiscal year 2018, down from 120 per cent in FY17, and 121 per cent in FY16. Investment book rose 20 per cent to Rs 8,261 crore, he said, while its online sales grew 32 per cent growth. It can be noted that the company had last October filed draft papers with markets regulator Sebi for an initial public offer (IPO) and ...
CEPR, NITI Aayog join hands for IBC 2018 to address issues of India's Banking Sector
Centre for Economic Policy Research (CEPR) along with its knowledge partner and the government Think Tank, NITI Aayog are organizing two-day India Banking Conclave 2018 (IBC) in New Delhi between August 23-24, 2018.The conclave, planned with the objective of making the banking sector more adaptable to face multiple future challenges in the coming years, will be addressed by Union Ministers such as Finance Minister, Arun Jaitley, Railways Minister Piyush Goyal and Civil Aviation Minister, Suresh Prabhu, apart from other important dignitaries such as BJP President, Amit Shah and Vice Chairman NITI Aayog, Rajiv Kumar.The conclave will also host some of the best minds of the banking and financial sectors such as Governor, Reserve Bank of India Urjit Patel, Chairman, ICICI Bank, Girish Chandra Chaturvedi , Former Chairperson, SBI, Arundhati Bhattacharya and many other renowned national and global names related to the industry.Dailyhunt, India's no. 1 News and local language content ...
Oil tops $73 on report of U.S. inventory drop, Iran sanctions
LONDON (Reuters) - Oil traded above $73 a barrel on Wednesday as an industry report showing a drop in U.S. crude inventories and U.S. sanctions on OPEC producer Iran pointed to tighter supplies.
Japan regulatory head scolds weak regional banks: 'Don't blame BOJ'
TOKYO (Reuters) - Japan's top financial regulator said regional banks "should not blame the Bank of Japan" for their woes, urging them to explore ways to survive ultra-low interest rates.
Focus: In Kenmore sale, Sears' pension liabilities come back to bite
(Reuters) - Sears Holdings Corp is facing a familiar foe in its bid to sell off the Kenmore appliances brand: the U.S. government body that oversees the pensions for the company's 100,000 retirees.
Australia's Santos expands with $2.15 billion Quadrant buy after spurning takeover
MELBOURNE (Reuters) - Australian oil and gas firm Santos Ltd agreed on Wednesday to buy privately held Quadrant Energy for at least $2.15 billion, grabbing what may be the biggest oil find off Western Australia in over two decades.
China's Dalian Wanda Group to borrow $800 million club loan - LPC
HONG KONG (Reuters) - Chinese conglomerate Dalian Wanda Group Co Ltd is borrowing a club loan of up to $800 million, its first offshore loan in almost two years, Reuters Loan Pricing Corp reported on Wednesday citing sources.
European shares trade cautiously after Wall Street's record high
LONDON (Reuters) - European stock markets were broadly flat in mid-morning trade on Wednesday, showing more caution than Wall Street, where the benchmark S&P 500 reached a record high in its longest-ever bull-market run.
Global trade war to hold back modest euro zone growth: Reuters poll
BENGALURU (Reuters) - The euro zone economy will muddle through this year and next with steady but modest growth in a slowdown from 2017, according to economists in a Reuters poll, which shows a majority expecting a brewing U.S.-led trade war to hold back growth.
Jet Airways to consider cost-cutting, turnaround plan
(Reuters) - Indian carrier Jet Airways Ltd said https://www.bseindia.com/xml-data/corpfiling/AttachLive/f418acfd-7a4f-4da7-90de-f123a872997a.pdf on Wednesday it would consider cost-reduction measures and a turnaround plan at its Aug. 27 board meeting, which would also take up June-quarter financial results.
Gen Next takes handloom to new high at Lakme Fashion Week
Youth is the future of country and the fashion industry seems to be in the right hands with young designers making it a point to use "only" Indian textiles in their collections. Five new designers Anurag Gupta, Ajay Kumar Singh, Kanika Sachdeva, Sweta Gupta and Yadvi Agarwal today made their runway debut with the Gen Next show at the Lakme Fashion Week Winter/Festive 2018, and the thread binding them together was their aim to promote Indian textiles through their creations. Kanika, whose label Jajaabor narrated the tale of a traveller, said it is unfortunate that the fashion industry has been negligent towards Indian textiles for the longest time, but is happy that finally there is change in the mindset of both consumers and producers. "It is unfortunate that people are running abroad and buying stuff from them. We have such beautiful textiles in India, which unfortunately designers from abroad are coming and using. I believe it is high time we realize the worth of what we have. "We .
US firm Anthem takes 3 lakh sq ft office space on lease from Embassy, GAR group
US-based health insurance company Anthem Inc has taken on lease 3 lakh sq ft office space in Bengaluru and Hyderabad from two real estate developers, Embassy and GAR group, for its back-office operations, according to sources. Global property consultant Savills India helped Anthem Inc for leasing transaction as well as managing the project. In February this year, Anthem Inc's Indian arm Legato Health Technologies had taken on lease about 1.5 lakh sq ft of office space in 'Embassy Manyata Business Park' project in Bengaluru. According to sources, Legato has leased 1 lakh sq ft of office space more in Embassy Manyata Business Park, taking the total absorption to 2.5 lakh sq ft. Moreover, Legato has taken 2 lakh sq ft of office space from realty firm GAR group in its 'Laxmi Infobahn' project located at new financial district Kokapet, Hyderabad. The US firm will use this space for its captive backoffice work, sources said. While the leasing deal in Bengaluru has been done at a rent of ...
China's Xiaomi posts 68.3 percent jump in second-quarter revenue on smartphone strength
(Reuters) - Chinese smartphone maker Xiaomi Inc reported on Wednesday a 68.3 percent rise in second-quarter revenue, helped by the strong performance of its smartphones segment. Revenue for the three months ended June 30 rose to 45.24 billion yuan ($6.58 billion) from 26.88 billion yuan, the company said in a statement.
Army recruitment drive for Vidarbha region in October
A Army recruitment drive for the post of soldiers will be conducted in Amravati city in east Maharashtra in October this year. The rally will be conducted by the Army Recruitment Office, Nagpur, under the aegis of the Headquarters Recruiting Zone, Pune for Vidarba region. The drive will be held at Jawaharlal Nehru Sports Stadium in Amravati from October 23 to November 3, stated a defence release. Youths from Akola, Amravati, Bhandara, Chandrapur, Gadchiroli, Gondia, Nagpur, Wardha, Washim and Yavatmal can attend the rally, it said. Colonel RM Negi, Director, Recruiting, has informed that the candidates participating in the upcoming recruitment rally will be tested for dope/performance booster and drug abuse, it said. The entire application cum registration process will be conducted online.
Prism gets lime stone mines lease in Madhya Pradesh
Cement maker Prism Johnson said today that it has got a lime stone mine on lease from the Madhya Pradesh government. The mine in Satna district has about 77 million tonnes of reserve and would be captive to Prism plant. In a regulatory filing, Prism Johnson (formerly known as Prism Cement) said, "The company has got LOI from the Madhya Pradesh government for allotment of cement grade limestone mining lease for 50 years." The application for this lease was made under the earlier regulations and was under processing by the state government, the company said. In 2017-18, Prism Johnson had a revenue of Rs 5,500.39 crore.
Raheja Universal adopts title insurance policy from HDFC Ergo
Realty developer Raheja Universal today said it has partnered with private general insurer HDFC Ergo to adopt title insurance policy for their projects. The city-based developer is the first realty player in the country to adopt title insurance policy as per the guidelines of the Real Estate (Regulation and Development) Act 2016, the company said in a statement issued here. "This is a game changer initiative by the state and MahaRERA as it will provide the much needed protection and build buyers' confidence. The policy will stabilise accountability and transaction process," company's managing director Ashish Raheja said in a statement. Title insurance refers to insurance for all real estate projects registered with the regulatory body, mandated under the RERA Act 2016. "The policies will provide security to property developers and new age buyers against defects in title of the property. This regulation will bring a lot of confidence among buyers, bankers and financiers. .