Page 2764 - Business Finance
Norway wealth fund allowed to stay on as investor if Tesla goes private
OSLO (Reuters) - Rules governing Norway's $1 trillion wealth fund would allow it to stay on as an investor in Tesla if the electric carmaker goes private, its deputy CEO said on Tuesday.
India fastest growing tourism market for London: Official data
India has emerged as one of the fastest growing tourism markets for London, registering a nearly 40 per cent increase in Indian tourist footfalls in the British capital last year. According to the latestInternational Passenger Surveydata released this week, Indian tourist visits rose from 273,400 in 2016 to 382,400 in 2017, marking a 39.9 per cent increase. The spending by these Indian tourists also registered an increase of nearly 9.5 per cent. "I'mdelighted that so many more Indians have chosen to visit London this year, joining the thriving Indian community that already live, study and work here," said Laura Citron, CEO of London & Partners which runs VisitLondon.com. London & Partners is the promotional company for the British capital. India ranked 15th on a worldwide tourism scale for London, with the US, France and Germany making up the top three countries from where tourists come to the British capital. China ranked 19th with 219,400 visitors coming in 2017 and Japan ...
Wadhawan Global Capital launches wealth management biz
Financial services group Wadhawan Global Capital today announced its foray into wealth management with the introduction of WGC Wealth. The wealth management arm -- WGC Wealth -- aims to serve clients across the ultra HNI (high networth individual) HNI, and affluent segment. "With an increase in upwardly mobile and wealthy Indians, the wealth management business with a distinct trust, technology, transparency-driven and advisory-led approach is a logical next step for us to add to our business lines," WGC Chairman Kapil Wadhawan said in a statement. WGC, which manages over USD 22 billion of assets, offers investments, lending, succession planning, and protection services for investors in the country. "The potential of the wealth management industry in India is undisputed, and there is an opportunity to build the business by offering right advice and differentiated experience to clients," WGC Wealth CEO Atul Singh said.
Dynamic Cables bags two orders worth Rs 80 crore
The orders received by the company are for the supply of cables & conductors in next six months period. No promoter/ promoter group have any interest in the entity that awarded the orders. The awarded orders do not fall within related party transactions.
Droom's Orange Book Value crosses 200 Mn users in India
Online automobile transactional marketplace Droom, which had introduced its unique and path-breaking pricing engine, Orange Book Value (OBV) in 2016, has announced that the price engine has generated a whopping 200 million user base within 28 months of its operations.After acquiring such a huge user base, OBV has also become the third largest search engine in India.Droom's OBV gets close to 15 million users on OBV every month to obtain a fair market value of a used vehicle in less than 10 seconds! The algorithmic pricing engine covers a wide spectrum of vehicle categories, including cars, motorcycles, scooters, bicycles, and planes in its evaluation base, covering 24000+ products from 100+ makes, nearly 1000 models and 4000 variants produced in the last 15 to 16 years."With the help of OBV, we have generated a series of checkpoints based on statistical evidence, pricing based algorithms and prior industrial trends to arrive at a price decision that has been comprehensively ...
Private shipyards approach govt for resurrection
Battling rough weather, private shipyards have urged the government to place orders with them under 'Make in India' initiative as it has been doing with private players in the US, Italy and Russia. According to Shipyards Association of India (SAI), private shipyards are under stress due to "lack of support by the government", effecting over 11.5 lakh families on account of loss of jobs. It said shipyards invested Rs 20,000 crore between 2002 and 2007 which should have resulted in Rs 2.22 lakh crore worth of investment downstream, but "lack of support by the government has resulted in their sinking". "If the government can place orders with foreign private shipyards, be it in the US, Italy or Russia, why can't it place orders with Indian private shipyards. "Why is it that when it comes to build in India then it will only go to the public sector. Are we not Indians?" questioned SAI President V Kumar. Addressing media he said the private shipyards have demonstrated world-class quality ..
Gold at 1-week high as Trump's Fed criticism weighs on dollar
LONDON (Reuters) - Gold rose to a one-week high on Monday as the dollar weakened after U.S President Donald Trump criticised the Federal Reserve for raising interest rates.
Focus on 20 key brands to drive growth: GSK Pharma
Drug firm GlaxoSmithKline Pharmaceuticals today said it has decided to concentrate on 20 key brands to drive growth going forward. "In keeping with our global approach on focusing our energy where it matters, GSK India has decided to focus on 20 key brands to drive growth in identified therapy areas," GSK India spokesperson said in an e-mailed response. As part of its growth plans the company is also planning to aggressively expand its field force. "We will drive growth by increasing our field force by 30 per cent, from our current base," the spokesperson added. Recently, while announcing the company's quarterly results, GlaxoSmithKline Pharmaceuticals MD A Vaidheesh had said: "... we are evolving our commercial operating model to invest resources on key products and patients/consumers to drive growth for our company". Identified therapies will also be supported by incremental field force during the course of the year, he had said. The company currently sells around 130 prescription ..
Sensex marks record close; IT, pharma gain
(Reuters) - Indian shares posted fresh closing highs on Tuesday after touching life-highs earlier in the session, amid renewed buying in pharmaceuticals and IT stocks.
UK shows biggest July budget surplus since 2000, easing spending headache for Hammond
(Reuters) - Britain recorded its biggest budget surplus for the month of July in 18 years, official data showed on Tuesday, helping finance minister Philip Hammond as he prepares his annual budget statement later this year.
Japan Stocks mixed on strong yen
Many market participants are awaiting developments in the lower-level trade talks between the United States and China due to start later on Tuesday. As per reports, the talks in Washington would take place on August 21 and 22, just before $16 billion in new US tariffs on Chinese goods take effect, along with an equal amount of retaliatory tariffs from Beijing.
Hong Kong Market gains 0.56%
China is likely to cut banks' risk weighting for local government bonds from 20 percent to zero in the near term to attract funding for the bonds, the state-run China Securities Journal reported on Tuesday. The move, if confirmed, would make it easier for local governments to raise money for infrastructure investment.
China Market gains 1.31% on stimulus hopes
China is likely to cut banks' risk weighting for local government bonds from 20 percent to zero in the near term to attract funding for the bonds, the state-run China Securities Journal reported on Tuesday. The move, if confirmed, would make it easier for local governments to raise money for infrastructure investment.
Market provisionally settles with small gains
Key benchmark indices provisionally settled with small gains after a quiet session of trade. The barometer index, the S&P BSE Sensex, rose 7 points or 0.02% at 38,285.75, as per provisional closing data. The Nifty 50 index rose 19.15 points or 0.17% at 11,570.90, as per provisional closing data.
Trade deficit greater concern than rupee, says Niti chief
Niti Aayog vice chairman Rajiv Kumar said today that he was more concerned about the rising trade deficit than the falling rupee, and called for efforts to push exports. He also said that there is a constituency which benefits from strong rupee but it needs to be put on the back foot. "I don't believe in strong rupee... It will be very difficult for the government to try and push up the rupee," Kumar said at an event organised by industry body CII. "There is a constituency that benefits from strong rupee...The constituency should be put on back foot," he added. The rupee on August 16 had slumped to a life-time low of 70.32 on strong demand for the US dollar. Kumar further said that economic policy making should not focus only on fiscal deficit number, arguing that large economies like USA, China and European Union do not give much importance to fiscal deficit. "We must shift debate out of fiscal deficit. Countries like USA, China and European Union don't give (importance) to it... We .
Lenovo India appoints Shailendra Katyal as ED & India PCSD consumer leader
Lenovo India, a global technology brand and one of the world's leading PC and Tablet players has announced appointment of Shailendra Katyal as Executive Director & India PCSD Consumer Leader.Shailendra, who is based in Bangalore, will report to Rahul Agarwal, Managing Director & CEO-Lenovo India.He will be responsible for leading the growth strategy to further strengthen Lenovo's consumer business. Shailendra will focus on driving sustainable, profitable growth across multiple routes-to-market for the consumer business and build a more consumer-centric organization.With over two decades of experience in building consumer-focused businesses in India and South Asia, Shailendra was previously associated with Wipro, where he was responsible for leading New Business initiatives, organic and inorganic, which entailed leading the M&A office, incubating the E-commerce business, and leading the Innovation pipeline for new category launches.In his previous innings at Lenovo, he ...
Defensives drive European shares higher before U.S.-China trade talks
LONDON (Reuters) - A bounce across defensive sectors propelled European shares higher on Tuesday, though trading was cautious before trade talks between the United States and China later in the week.
Sainsbury's lags rivals in UK grocery market - Kantar Worldpanel
LONDON (Reuters) - Sainsbury's, Britain's second largest supermarket group which has agreed to buy smaller rival Asda, was again the worst performer of the country's big four grocers in the latest 12-week period, industry data showed on Tuesday.
Japan, China seek to restart FX swap line in sign of warming ties - Kyodo
TOKYO (Reuters) - Japan and China are in talks to resume a currency swap arrangement between their central banks worth about 3 trillion yen ($27.2 billion), Kyodo News agency reported on Tuesday.