Page 2775 - Business Finance
Finzy completes USD 2.3 Mn Pre-Series A fund raise
Peer to peer lending platform Finzy on Monday announced raising funds worth USD 2.3 million in Pre-Series A round, including USD 1.3 million raised in the first tranche in March 2018.Pre-Series A round has been funded by senior professionals from BFSI industry and successful entrepreneurs. The company plans to use the funding for geographical expansion, technology investment and stronger distribution networks."This round will help us scale our business closer towards break even. Currently, Finzy is a team of 60 passionate colleagues working towards a single minded objective of providing a hassle free experience to our borrowers and create a new sustainable asset class for our lenders," said founder and CEO, Finzy, Amit More."We are achieving this without compromising on our standards and we do not have even a single NPA till date," added More.Finzy's monthly loan disbursements have grown more than 2x in the last 6 months and is expected to grow by an additional 3x from here on by ...
Hong Kong Market gains on optimism over US-China trade talks
Shares of HK listed Mainland developers were higher after the China Banking and Insurance Regulatory Commission asked financial institutions to give more support to infrastructure investment, importers and exporters, and to creditworthy companies experiencing temporary problems. The regulator also called on institutions to raise the proportion of medium- and long-term loans to avoid placing strain on borrowers at the end of a month or quarter. Among property developers, China Evergrande Group jumped 4.5% to HK$28, China Resources Land advanced 4% to HK$27.35 and Sunac China Holdings gained 3.3% to HK$23.85. Country Garden Holdings was 2.2% higher at HK$11.34.
Spacenet Enterprises India reports consolidated net loss of Rs 0.29 crore in the June 2018 quarter
Reported sales nil
Reliance Jio Infocomm reports standalone net profit of Rs 611.91 crore in the June 2018 quarter
Sales reported at Rs 8109.05 crore
National Stock Exchange Of India standalone net profit rises 11.42% in the June 2018 quarter
Sales rise 27.55% to Rs 586.24 crore
PNB Gilts reports standalone net loss of Rs 44.25 crore in the June 2018 quarter
Sales decline 65.04% to Rs 41.45 crore
National Stock Exchange Of India consolidated net profit rises 16.30% in the June 2018 quarter
Sales rise 21.66% to Rs 706.06 crore
NIIT consolidated net profit rises 72.02% in the June 2018 quarter
Sales rise 2.09% to Rs 214.26 crore
R R Securities standalone net profit rises 2100.00% in the June 2018 quarter
Sales reported at Rs 0.01 crore
Ceenik Exports (India) reports standalone net loss of Rs 0.63 crore in the June 2018 quarter
Sales decline 68.31% to Rs 0.77 crore
Upasana Finance standalone net profit rises 4500.00% in the June 2018 quarter
Sales rise 5100.00% to Rs 0.52 crore
Vijay Shanthi Builders standalone net profit declines 92.59% in the June 2018 quarter
Sales reported at Rs 1.70 crore
Rollatainers reports standalone net loss of Rs 0.55 crore in the June 2018 quarter
Reported sales nil
Rollatainers reports consolidated net loss of Rs 5.48 crore in the June 2018 quarter
Sales decline 28.19% to Rs 34.65 crore
Changes proposed for online certificate for low I-T deduction
The government on Monday invited comments on proposed changes to income tax rules for rationalising the process of certificate issuance for no deduction of income-tax or deduction at lower rates, and to take it online.
Turkish lira depreciates after credit rating downgrade
The Turkish lira on Monday continued the bearish path of recent days, following last week's announcement by the credit rating agencies Moody's and Standard & Poor's (S&P) that they had downgraded Turkey's sovereign credit rating.
IGPC bags International accolades for Gold Policy Research
The India Gold Policy Centre (IGPC), IIM Ahmedabad won an award for Outstanding Contribution to Gold Policy Research in 2017-18 at the 15th India International Gold Convention recently held in Kochi. The award was received by Professor Arvind Sahay, Chairman of IGPC, along with his team, on behalf of the Centre.The convention, that was held at Le Meridien Convention Centre, saw around 400 delegates representing different sections of the gold industry from India and abroad, trade organizations, financial institutions and policy experts holding deliberations over policy and trade matters related to gold ecosystem.The gathering consisted of 11 bullion banks, 6 nominated banks, 6 international refiners, 25+ domestic refiners, leading jewellery manufacturers from India, official / trade representatives from Canada, Peru, Ghana, Liberia, Myanmar and Singapore."We are honored to have received this award. IGPC has been doing extensive research work in the field since its inception. IGPC has ..
China Market rebounds 1.1% from two-and-half-year low
Market participants are awaiting developments in the US-China trade conflict after the two countries said on Thursday, 16 August 2018, that they would hold lower-level trade talks next week. 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. The US Trade Representative's office said on Friday it doubled the length of tariff hearings on the next $200 billion worth of Chinese goods to six days from the previously planned three due to overwhelming demand from companies to testify. The hearings will be held Aug. 20-24 and on Aug. 27.
Gold rises as trade talks lift China's yuan
LONDON (Reuters) - Gold prices rose on Monday after touching a 19-month low last week as a strengthening currency in China made the metal cheaper for buyers in the world's biggest gold consumer.
'Non-coking coal consumption may grow to 1,076 MT in FY23'
Non-coking coal consumption is likely to grow at a compound annual growth rate (CAGR) of 5.4 per cent to 1,076 million tonne (MT) in fiscal year 2022-23, from 826 MT in fiscal year 2017-18, driven by a 6.5 per cent growth in coal-based power generation, a report said. The domestic supply is also expected to clock a CAGR of 7 per cent to 931 MT in FY23, from 664 MT in FY18, ratings agency Crisil said in its report. "The growth will ride on increased production from Coal India (CIL) and commissioning of large captive coal blocks such as Pakri Barwadih, Parsa East and Kente Basan (15 MTPA each), primarily allotted to public sector undertakings," it said. Consequently, Crisil said, the share of imports in non-coking coal consumption is forecast to fall to 13.4 per cent in FY23, from 19.6 per cent in FY18. In absolute terms, non-coking coal imports are estimated to decline to 145 MT in FY23, from 162 MT in FY18. Crisil also expects domestic coal prices to increase 10-12 per .