Page 2757 - Business Finance
Domestic Edible Oil Imports Falling On Import Duty Hikes And Rupee Depreciation
The Solvent Extractor's Association (SEA) has noted in a latest update that following the upward revision of import duty in March and later in June and also the depreciation of Rupee have been capping the domestic import of vegetable oils. This is evident for the fact that in June the import was actually down by 23% which decreased further in July to 27% (corresponding month last year) and overall import during November '17 to July '18 (9 months) is down by 5.5%. Further, the country is sitting on huge stock of nearly 25.0 lakh tones of edible oils equal to 39 days requirement, noted SEA. Even though there has been hike in import duty, Indian consumer is not affected, since international prices of edible oil have gone down by upto 14% due to excess supply in the world market. The association opined that looks like for the 1st time after many years we will see a negative growth in import of edible oil which is a positive development for industry and farmers.
Gold remains up on festive demand, global cues
Continuing its upward trend for the third straight day today, gold prices gained another Rs 50 to Rs 30,650 per 10 grams at the bullion market on the back of sustained buying by local jewellers amid firm global cues. However, silver eased by Rs 50 to Rs 38,100 per kg due to reduced offtake by industrial units and coin makers. Bullion traders said persistent buying by local jewellers to meet the ongoing festive season demand at the domestic spot market and firm trend overseas kept gold higher. Globally, gold rose 0.45 per cent to USD 1,195.50 an ounce in New York in yesterday's trade. In the national capital, gold of 99.9 per cent and 99.5 per cent purity advanced by Rs 50 each to Rs 30,650 and Rs 30,500 per 10 grams, respectively. The precious metal had gained Rs 350 in the last two days. Sovereign gold also edged up by Rs 100 to Rs 24,500 per piece of eight grams. On the other hand, silver ready declined by Rs 50 to Rs 38,100 per kg, while weekly-based delivery held steady at Rs ...
Paytm collects Rs 30 crore for flood-hit Kerala
Leading digital payment provider Paytm collected Rs 30 crore from its 12 lakh users in a week for relief work to flood-hit victims in Kerala, the company said on Wednesday.
Gold slips from 1-week high, Fed minutes awaited
BENGALURU (Reuters) - Gold prices eased on Wednesday after touching a one-week high earlier in the day, as the dollar recovered some ground lost to U.S. President Donald Trump's criticism of the Federal Reserve's interest rate hikes.
Newly-listed Avast reports strong first half, sees margin improvement
LONDON (Reuters) - Avast, the cyber security firm that listed in May, said margins would improve this year after a first half that saw adjusted revenue grow 8.5 percent to $394.3 million.
Isuzu to hike prices of D-MAX Pick-ups by up to Rs 50,000 from Sept
Isuzu Motors India today said it will hike prices of its D-MAX Pick-ups by up to Rs 50,000 from next month to partially offset the impact of increasing input and distribution costs. The price increase is expected to be about 2-3 per cent across the commercial variants - D-MAX Regular Cab and D-MAX S-CAB and the lifestyle and adventure Pick-up D-MAX V-Cross, the company said in a statement. It will translate into price increase in the range of Rs 20,000 to Rs 50,000 (ex-showroom) depending on the variant, it added. The D-Max price range is currently between Rs 7.1 lakh and Rs 15.82 lakh. "The increase in price is due to the increasing input and distribution costs," the company said. Last week, Maruti Suzuki India hiked prices of its vehicles by up to Rs 6,100 to partially offset the increase in commodity and distribution costs and adverse foreign exchange rates. Other companies such as Mahindra & Mahindra, Tata Motors and Honda Cars India have also announced price hikes from this .
Australia's Santos agrees to buy Quadrant Energy for at least $2.15 billion
(Reuters) - Australian oil and gas firm Santos Ltd said on Wednesday it has agreed to buy privately held Quadrant Energy for at least $2.15 billion, bagging access to what may be the biggest oil find off Western Australia in over two decades.
MINISO completes 1 year in India; achieves Rs 700 crore revenue
Japanese retail brand MINISO has completed one year of operation in India and achieved its annual target of Rs 700 crore revenue for 2017-18. The brand, which was launched in August 2017, at present operates 26 stores in India - 21 in Delhi/NCR, three in Mumbai, one in Bengaluru and two in Lucknow. It plans to take its store count to 800 by 2019 by increasing its spread in existing cities and entering new cities across the country. MINISO India plans to expand its business by increasing its footprint across the country. The company aims to open 200 stores by this year end and hopes to increase it to 800 by the year 2019, the company said in a statement. "India is one of the top five markets in terms of revenue for MINISO. To expand our presence in India, we have initiated our franchise model and have already started five franchise stores in India," MINISO Global Chief Designer and CoFounder Miyake Junya said. "MINISO India has extensive plans to start operations in Chennai, Kolkata, ..
Oil edges up as U.S. crude stocks fall, Iran sanctions weigh
SEOUL (Reuters) - Oil prices rose on Wednesday, supported by a drop in U.S. crude inventories and a weaker dollar, along with concerns about a potential shortfall of Iranian oil from November due to U.S. sanctions.
Deal-hungry investment bankers walk Tesla tightrope
(Reuters) - Tesla Inc Chief Executive Elon Musk's contemplated $72 billion take-private deal is presenting investment bankers with a dilemma: overlook concerns about how feasible it is or risk missing out on what could be this year's biggest and most high-profile acquisition.
Dutch payments firm Adyen first-half profit surges
AMSTERDAM (Reuters) - Adyen, the Dutch company which processes payments for Netflix and Facebook, reported at 75 percent jump in first-half net profit, driven by existing and new customers including retailer eBay.
State of Indian economy: Is it time to go bearish? (Comment) (With Charts)
Less than a year to the general election is a tricky time for setting a stable economic narrative. The government will glorify its achievements. The opposition will skew comparisons against its own track record, preferring to affirm how things used to be "much better".
Consumption economy & infrastructure: Two sides of same coin (Column: Behind Infra Lines)
Driven by rising incomes and steady growth, consumption patterns of e-commerce, mobile data, entertainment and consumer goods will see an uptick in India. World-class infrastructure is needed to enable these rising levels of consumption.
Board of Filatex India to consider fund raising
On 25 August 2018
Corrected: Deal-hungry investment bankers walk Tesla tightrope
(Corrects first paragraph to make clear dilemma means investment bankers have to "overlook" concerns, not "heed" them)
Outcome of board meeting of Gammon India
Held on 20 August 2018
HDFC AMC net jumps 25% to Rs 205.2 cr
The company got listed with a strong performance early this month, with a closing premium of 65 per cent on debut
Asian currencies muted ahead of U.S.-China trade talks
(Reuters) - Most Asian currencies traded sideways on Wednesday as investors shied from taking positions ahead of Sino-U.S. trade talks later in the day.
Global Markets: Asian shares edge up, but political, economic woes hurt sentiment
SHANGHAI (Reuters) - Asian stocks inched higher on Wednesday, with sentiment boosted by Wall Street's rise and a record intraday high for the S&P 500 index, but political headlines in the U.S. and Australia and a retreat in Chinese markets darkened the mood.
UltraTech Cement gets CCI approval for scheme of arrangement
On 21 August 2018