Page 2772 - Business Finance
PepsiCo puts fizz into healthy drinks with $3.2 billion SodaStream deal
JERUSALEM/LONDON (Reuters) - PepsiCo will buy carbonated drink-machine maker SodaStream for $3.2 billion as it battles Coca-Cola for an edge in the health-conscious beverage market.
Exclusive: StanChart sells principal finance business to Actis and ICG
LONDON (Reuters) - Standard Chartered is in talks to sell its private equity business to Intermediate Capital Group (ICG), a source with direct knowledge of the deal said on Monday, as part of a broader disposal of its 'principal finance' investment business.
Dow, S&P higher on trade talk optimism, Nasdaq slips on tech weakness
(Reuters) - The S&P 500 and Dow Industrials rose on Monday on optimism around the upcoming Sino-U.S. trade talks, but the Nasdaq fell as technology stocks retreated.
PepsiCo puts fizz into healthy drinks with $3.2 bln SodaStream deal
JERUSALEM/LONDON (Reuters) - PepsiCo will buy carbonated drink-machine maker SodaStream for $3.2 billion as it battles Coca-Cola for an edge in the health-conscious beverage market.
ConocoPhillips settles with Venezuela's PDVSA to recover $2 billion
(Reuters) - U.S. producer ConocoPhillips on Monday said Venezuela's PDVSA agreed to pay $2 billion to settle an arbitration award, suspending a dispute that blocked the state-run oil firm from exporting crude from most of its key Caribbean facilities.
Bengal to explore aid to MSMEs through SCBs: CM
Acknowledging that MSMEs have limited access to bank credit, West Bengal Chief Minister Mamata Banerjee on Monday said the state will explore the possibility of extending them financial help through state cooperative banks (SCBs).
Farfetch targets New York listing as luxury web sales thrive
(Reuters) - Online fashion retailer Farfetch aims to float on the New York Stock Exchange by the end of the year, the London-based company said on Monday, seeking to capitalise on rapid growth in luxury sales on the web.
SBI chief: Need to whittle down thrust on consortium lending
State Bank chairman Rajnish Kumar today called for scaling down thrust on consortium lending, saying over-dependence on this has only led to bad loan pile- up as it has been inordinately delaying loan appraisals. He also said NPAs rose because bankers don't approach a borrower with the mind of a CBI/ED sleuth, but with trust. Apportioning the blame for bad loans, which has almost touched 12 per cent of the system, on the government, the judiciary, banks and slimy borrowers, he said, "instead of lessening credit risk, consortium lending has mostly increased the pain as inordinate delay in loan appraisal, has most of the time, killed projects." Listing out problems around the consortium lending or multiple banking systems, he said, "up to the mid-90s, it used to be consortium banking and later on, because there were complaints saying it was delaying the process, we went into multiple banking, but that has not resulted in faster decision-making. Instead, it has led to more .
US remains top auto component importer from India
The US imported USD 290 million worth of auto components from India in April-June, a growth of 23.8 per cent on yearly basis, to retain its position as the top buyer of Indian auto parts, according to an analysis by EEPC. Turkey was the second largest auto component importer from India with shipments of about USD 100 million in the first quarter of 2018-19, a year-on-year growth of 28.36 per cent. Bangladesh, Brazil and Germany were the other major importers of Indian auto components with aggregate shipments of USD 80 million, USD 72 million and USD 61 million respectively for the period. Bangladesh showed the maximum growth of over 53 per cent in auto parts imports during April-June. "We had seen some concerns amongst the stock investors as regards Indian auto exporters after tariff and counter-tariff issues cropped up among two major economies, but performance of our auto component exporters has been quite good. Close to 24 per cent growth in auto components exports to the US does ..
Maruti Suzuki launches New Ciaz with new 1.5 litre Petrol Engine
Equipped with Advanced Smart Hybrid Technology with Lithium-ion battery
N R Agarwal Industries to temporarily shut down Unit I at Vapi
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Roma midfielder Gonalons joins Sevilla on loan
AS Roma midfielder Maxime Gonalons joined Sevilla on a one-season loan, the two football clubs announced on Monday.
India's July domestic air passenger traffic up 21%
India's domestic air passenger traffic rose by 20.82 per cent in July, official data showed on Monday.
Domestic passenger traffic grows 20.82% in July
Continuing to register double-digit growth, domestic airlines carried 115.57 lakh passengers in July which is nearly 21 per cent higher compared to year-ago period, according to official data. Budget carrier IndiGo continued to be the largest player with a market share of 42.1 per cent while that of national carrier Air India stood at 12.4 per cent in July. Latest figures compiled by aviation regulator DGCA showed that there was an increase of 20.82 per cent in the number of passengers flown by local carriers last month. In July this year, airlines carried 115.57 lakh passengers as against 95.65 lakh people in the year-ago period. Last month, the market share of SpiceJet and GoAir stood at 12.3 per cent and 8.9 per cent, respectively. Jet Airways garnered a market share of 13.6 per cent in July. "Passengers carried by domestic airlines during January-July 2018 were 800.40 lakh as against 657.21 lakh during the corresponding period of previous year thereby registering a growth of 21.79
Venezuela nervously await dramatic economic reforms
Venezuela today began to launch dramatic reforms announced by President Nicolas Maduro to rescue a downward-spiraling economy, including a new currency and a more-than-3,000 percent hike in the minimum wage. The changes start with the introduction of a currency that lops five zeros off the country's fast-depreciating bills. Maduro says he'll also raise gasoline prices to international levels a combination of measures critics say will only make things worse. Opposition leaders seized on tension among residents, calling for a nationwide strike and protest tomorrow. They hope to draw masses into the streets against Maduro's socialist ruling party something they've failed to do in over a year. Banks remained closed today as they prepare to release the "sovereign bolivar," the new currency printed with five fewer zeroes in a bid to tame soaring inflation. Maduro's government says that in late-September, the world's cheapest gas will rise to international levels to curtail rampant ...
Exclusive: StanChart sells real estate business to Actis and ICG
LONDON (Reuters) - Standard Chartered has completed the sale of its principal finance real estate business in Asia to private equity firm Actis, the bank said on Monday.
Gaja Capital, GPE India sell TeamLease shares worth Rs 148-cr
Gaja Capital and GPE India today offloaded 3.28 per cent stake in staffing firm TeamLease Services for a little over Rs 148 crore through open market transactions. Most of the shares were purchased by Franklin Templeton Investment Funds and Kuwait Investment Authority. According to bulk deal data available with the National Stock Exchange (NSE), Gaja Capital and GPE (India) Ltd together sold a total of 5,61,353 shares, amounting to 3.28 per cent stake, of TeamLease. Individually, Gaja Capital sold 1,06,245 shares on the NSE, while GPE offloaded 4,55,108 shares on the bourse. The shares were sold at an average price of about Rs 2,645, valuing the transactions at Rs 148.47 crore. Meanwhile, Franklin Templeton picked up 4,82,400 stocks of the staffing firms, while Kuwait Investment Authority bought 94,800 stocks of the company. Earlier in April, Gaja Capital and GPE India had sold nearly 4 per cent stake in TeamLease for Rs 151 crore. In November last year, the two entities together ...
PT CPSI inaugurates First HV and EHV at AIS Switchgear plant in Indonesia
PT CPSI is a joint venture company between CG International Holdings Singapore [a subsidiary of CG Power and Industrial Solutions (CG)] and PT Prima Layanan Nasional Enjiniring [a subsidiary of PT PLN (Persero)]. The establishment of the Switchgear plant is a part of the initiatives and efforts to develop domestic industries that will support the electricity sector in Indonesia, to meet the needs of domestic Switchgear equipment and to export to the Southeast Asian and Asia Pacific markets.
Telecom subscribers' base up marginally at 116.8 crore in June
Telecom subscribers base in India reached 116.8 crore at the end of June, with Reliance Jio adding the highest number of new customers to its mobile network, according to a Trai report released today. "The number of telephone subscribers in India increased from 1,153.51 million (115.35 crore) at the end of May 2018 to 1,168.89 million (116.88 crore) at the end of June 2018, thereby showing a monthly growth rate of 1.33 per cent," Trai's subscriber report for the month of June said. The mobile subscriber base in the country increased to 114.65 crore with net addition of 1.55 crore in the reported month. Reliance Jio led the growth in mobile segment by adding over 97 lakh new connections during the month. It was followed by Idea Cellular which added over 63 lakh new connections. Vodafone saw an addition of over 2.75 lakh new mobile connections, BSNL 2.44 lakh and Airtel 10,689. Tata Teleservices, which is in process of merging mobile services business with Airtel, lost over 1 million ..
Bengal to examine financial aid to MSMEs through SCBs: Mamata
West Bengal Chief Minister Mamata Banerjee today said her government would examine the possibility of extending financial assistance to MSMEs through state cooperative banks (SCB). Addressing a MSME conclave here, Banerjee said that commercial banks were not giving loans to the small-scale sector, due to which it is facing problems. "Bank loan is a problem factor which the MSMEs are facing. We are strengthening the SCBs and will also see whether loans to the small-scale sector could be given through them," she said. The chief minister said that the SME segment was already facing depressed market conditions, owing to demonetisation and the GST. "The unorganised sector is facing huge problems because of these two developments," she said. Banerjee also said she would like to see more women entrepreneurs in West Bengal. Regarding exports by the MSMEs, the CM said the state government would provide assistance in marketing efforts, and urged district officials to come forward .