Page 2934 - Business Finance
DHL Express expands service facility in TN
Logistics service provider DHL Express of the Deutsche Post DHL Group today announced the expansion by opening a new service centre in Madurai, taking the total number of such facilities in the State to nine. The 5,000-square-foot state-of-the-art facility would serve neighbouring districts of Virudhunagar and Sivakasi, a press release from the company said. The centre would provide easy access between Madurai and DHL Express Bengaluru Gateway, saving one or two days on the overall shipment transit, the release said. "With Madurai evolving as a prominent trade hub for numerous industries, investment by DHL will help the growth of international trade from this cluster", country manager of DHL Express India RS Subramanian said in the release. "Our new centre reinforces our ongoing commitment to the thriving business community in Tamil Nadu and provides significant service improvement for customers", he said. The expansion was part of the Euro 45 million investment plans of
SBI posts Q1 loss of Rs 4,876 cr as bad loans rise
The country's largest lender SBI today reported a hefty loss of Rs 4,876 crore for the June quarter due to higher bad loans. The bank had earned a net profit of Rs 2,006 crore in the April-June period of the previous fiscal, SBI said in a regulatory filing. However, total income during the three-month period rose to Rs 65,492.67 crore as compared to Rs 62,911.08 crore in the June quarter of 2017-18. The bank's gross non-performing assets (NPAs) rose to 10.69 per cent of total advances at the end of June, against 9.97 per cent a year ago. However, net NPA marginally declined to 5.29 per cent from 5.97 per cent earlier. Accordingly, gross NPAs increased to Rs 2,12,840 crore as on June 2018 from Rs 1,88,068 crore at the end of the same month last year. However, net NPAs of the bank declined to Rs 99,236 crore at the end of the first quarter, against Rs 1,07,560 crore in the year-ago period. Total provisions more than doubled to Rs 19,228 crore for the first quarter of this fiscal, from ..
Gold extends losses on weak global cues, low demand
Gold prices eased further by Rs 40 to Rs 30,520 per 10 grams today amid weakening global trend and a sluggish demand from local jewellers at the bullion market. Silver also slipped by Rs 75 to Rs 38,895 per kg due to reduced offtake by industrial units and coin makers. Marketmen said sentiment remained downbeat largely in sync with bearish trend overseas and subdued demand from local jewellers and retailers at the domestic spot markets. Globally, gold fell 0.33 per cent to USD 1,208.10 an ounce and silver by 0.88 per cent to USD 15.29 an ounce in Singapore. In the national capital, gold of 99.9 per cent and 99.5 per cent purity fell by Rs 40 each to Rs 30,520 and Rs 30,370 per 10 gram, respectively. The precious metal had lost Rs 25 in the last two days. Sovereign gold, however, remained steady at Rs 24,600 per piece of eight gram. In line with the overall trend, silver ready also declined by 75 to Rs 38,895 per kg and weekly-based delivery by Rs 20 to Rs 38,000 per kg. On the other ..
Matrimony.com Ltd leads losers in 'B' group
N K Industries Ltd, Skipper Ltd, Sicagen India Ltd and Panama Petrochem Ltd are among the other losers in the BSE's 'B' group today, 10 August 2018.
SBI slips after weak Q1 results
State Bank of India fell 0.46% to Rs 315 at 14:29 IST on BSE after the bank reported net loss of Rs 4875.85 crore in Q1 June 2018 compared with net profit of Rs 2005.53 crore in Q1 June 2017.
Volumes spurt at KNR Constructions Ltd counter
KNR Constructions Ltd registered volume of 6.76 lakh shares by 14:14 IST on NSE, a 10.05 fold spurt over two-week average daily volume of 67219 shares
Axis Bank introduces iris authentication for Aadhaar-based transactions
Axis Bank has become the first bank in the country to introduce Iris Scan Authentication feature for Aadhaar-based transactions through its micro ATM tablets.This service, which requires a customer to scan their iris on a tablet, will boost the bank's financial inclusion efforts by making Aadhaar authentication process hassle-free and offering easier access to digital banking for consumers especially in the rural parts of the country.Micro ATMs completely eliminate the requirement of debit cards, passwords, PINs, and user IDs, and empower consumers to avail banking services using only their Aadhaar numbers and biometrics (iris scan/fingerprint scan). The bank has deployed highly secure iris powered micro ATM tablets which are STQC certified and UIDAI compliant registered devices with completely integrated iris sensors.Iris scan technology is completely contactless and provides up to 98.2 per cent authentication success rate (as per study conducted by the International Centre for ...
Oil falls on trade dispute, Iran sanctions tighten outlook
LONDON (Reuters) - Oil prices fell on Friday on concerns that global trade disputes will slow economic growth and demand for fuel, but losses were limited by U.S. sanctions against Iran which look set to tighten supply.
Prez inaugurates 'One District One Product' Summit in UP; says MSME backbone of economy
Describing the micro, small and medium enterprises as the backbone of the country's economy, President Ram Nath Kovind today said these enterprises are "engines of inclusive development". The President was speaking after inaugurating 'One District One Product' Summit organised by the Uttar Pradesh government to promote traditional industries in every district of the state. "Micro, small and medium enterprises are called the backbone of our economy. These enterprises are engines of inclusive development. After the agricultural sector, most people find employment in this sector. "This sector generates more employment opportunities at a lower cost of capital. And the most important thing about this sector is that it creates jobs in rural and backward areas," he said. The President noted that Uttar Pradesh accounted for 44 per cent of the total handicraft exports of the country. Industries such as handicrafts, food processing, engineering goods, carpets, readymade clothes and leather ...
Passenger vehicle sales dip by 2.71% in July
The sale of domestic passenger vehicles in India declined by 2.71 per cent on an annual basis in July, data released by the Society of Indian Automobile Manufacturers (SIAM) on Friday revealed.The aggregate sale of passenger vehicles went down to 2, 90,960 units in July as compared 2, 99,066 units in the corresponding period last year. However, there was a boost in overall two-wheelers sales by 8.17 per cent, with 18, 17,077 units sold in July.The automobile industry grew by 7.97 per cent in July, according to SIAM data, driven by the robust sale of vehicles at 2,244,875 units.The Light commercial vehicles (LCV) segment saw a 32.88 per cent growth, with 48,198 units sold this year, contrary to 36,271 units in the same month last year. This was followed closely by Medium and Heavy commercial vehicles, which registered a 24.5 per cent year-on-year growth.
State Bank of India posts third straight quarterly loss
(Reuters) - State Bank of India (SBI) reported a bigger-than-expected quarterly loss on Friday, as the country's biggest lender by assets made higher provisions for treasury losses.
Jet Airways delays earnings report, shares hit three-year low
NEW DELHI/BENGALURU (Reuters) - India's Jet Airways Ltd said auditors have not signed off its first-quarter earnings report, forcing the airline to postpone its results announcement just days after it denied reports that it had told staff it was running out of money.
Qualcomm settles anti-trust case with Taiwan regulator for $93 million
TAIPEI/SAN FRANCISCO (Reuters) - Mobile chipmaker Qualcomm Inc will settle an anti-trust case with Taiwanese regulators for about $93 million, and has also pledged to invest $700 million in Taiwan over the next five years.
Edible oils rise on fresh millers' buying
Edible oil prices firmed by up to Rs 200 per quintal at the wholesale oils and oilseeds market today on pick up in demand by Vanaspati millers. Castor oil in the non-edible section also recovered on uptick in demand from consuming industries. Traders said, increased buying by Vanaspati millers against restricted supplies from producing belts, mainly attributed the rise in edible oil prices. In the national capital, groundnut mill delivery (Gujarat) and mustard expeller (Dadri) oils went up by Rs 100 and Rs 50 to Rs 9,500 and Rs 8,200 per quintal, respectively. Cottonseed mill delivery (Haryana) and sesame mill delivery oils hardened by Rs 100 and Rs 200 to Rs 7,700 and Rs 10,200 per quintal, respectively. Palmolein (rbd) and palmolein (Kandla) oils also finished higher by Rs 50 each to Rs 6,700 and Rs 6,750 per quintal, respectively. Soyabean refined mill delivery (Indore) and soyabean degum (Kandla) oils, too, edged up by a similar margin to Rs 7,700 and Rs 7,300 per quintal, ...
Germany maintains large surplus with U.S. despite trade friction
BERLIN (Reuters) - Germany's exports to the United States in the first half of this year were worth 24.4 billion euros ($28.3 billion) more than its imports of U.S. goods, data from the Federal Statistics Office showed on Friday.
IEA says calm in oil markets could be short-lived
MOSCOW (Reuters) - Oil markets have entered a brief period of calm but a storm might be looming later this year when new U.S. sanctions are poised to slash supplies of Iranian oil, the International Energy Agency said on Friday.
Profit booking, negative global cues subdue equity indices
Profit booking along with broadly negative global cues subdued the Indian equity market during the mid-afternoon trade session on Friday.
Lupin Ltd drops for fifth straight session
The stock is quoting at Rs 811.15, down 1.42% on the day as on 13:19 IST on the NSE. Lupin Ltd tumbled 13.79% in last one year as compared to a 17.88% rally in NIFTY and a 7.37% spurt in the Nifty Pharma index.
Divis Laboratories Ltd slips for fifth straight session
The stock is quoting at Rs 1113.6, down 0.12% on the day as on 13:19 IST on the NSE. Divis Laboratories Ltd jumped 77.55% in last one year as compared to a 17.88% rally in NIFTY and a 7.37% spurt in the Nifty Pharma index.
Bajaj Auto Ltd slips for fifth straight session
The stock is quoting at Rs 2658, down 0.02% on the day as on 13:19 IST on the NSE. Bajaj Auto Ltd tumbled 4.67% in last one year as compared to a 17.88% rally in NIFTY and a 3.98% spurt in the Nifty Auto index.