Page 3035 - Business Finance
State refiners drive India's July Iran oil imports to a record: trade sources
NEW DELHI (Reuters) - India's monthly oil imports from Iran surged by about 30 percent to a record 768,000 barrels per day (bpd) in July, as state refiners' intake surged ahead of U.S. sanctions in November, preliminary tanker arrival data obtained by Reuters showed.
Akzo Nobel India's Q1 standalone net profit up 6%
Paints and coatings maker Akzo Nobel India on Thursday posted a standalone net profit of Rs 43.51 crore, up 5.86 per cent year-on-year, for the quarter ended June 30.
DDCA appoints CEO, CFO, COO
In a bid to run the affairs in a professional manner, the new regime of Delhi & District Cricket Association (DDCA) has appointed Chief Executive Officer, Chief Financial Officer and Chief Operations Officer. Ravi Kant Chopra has been named the CEO, P C Vaish CFO and G R Saxena will be the COO. Chopra, who belonged to Indian Defence Estates Service, has held the position of Director General, Defence Estates, Ministry of Defence in the Government of India. An MA, LLB, he holds a diploma in Public Administration from IIAP, Paris. Chopra is a member of Delhi Bar Council, a Life Member and Fellow of Indian Council of Arbitration. He has also worked as senior adviser at the Max Institute of Health Education and Research (MIHER). Vaish has been chairman & managing director of National Textiles Corporation Ltd (NTC). Earlier, he worked as chief manager, Finance, at NHPC (National Hydroelectric Power Corporation). A chartered accountant by profession, Vaish has chaired the boards of ..
DRDO develops indigenous landing gear for UAV
An indigenously designed and developed landing gear for the Unmanned Aerial Vehicle (UAV)-Rustom II has been successfully tested today, a Defence statement said. The landing gear developed by a Defence Research and Development Organisation (DRDO) laboratory here has undergone low-speed and high-speed taxi trial in Chitradurga, Karnataka, it said. The maiden flight of Rustom II with the indigenously developed gear was successfully carried out. "The Combat Vehicles Research and Development Establishment (CVRDE), the main laboratory of DRDO, has designed and developed the gear," the statement said. Rustom II is a medium-altitude long-endurance UAV designed for carrying out surveillance for the armed forces. The CVRDE is involved in the development of armoured fighter vehicles and tanks among others.
Financials weigh on Wall Street as tariff worries return
(Reuters) - U.S. stocks fell on Thursday, weighed down by financials, as worries of a trade war between the United States and China were heightened after President Donald Trump proposed 25 percent tariffs on $200 billion worth of Chinese imports.
Tesla shares rise as investors embrace cash comments, Musk apology
(Reuters) - Shares of Tesla Inc jumped 11 percent on Thursday, after the company convinced investors that it was able to yield positive cash flow and turn a profit, and Chief Executive Officer Elon Musk apologized for past incendiary remarks.
Bank of England raises UK interest rates
The Bank of England (BoE) on Thursday raised its key interest rate by a quarter of a percentage point, from 0.5 per cent to 0.75 per cent -- the highest level since March 2009.
ONGC's Q1 net soars 58% over last year
State-run explorer Oil and Natural Gas Corp (ONGC) on Thursday declared a 58.15 per cent jump in net profit for the first quarter ending in June at Rs 6,143.88 crore on the back of higher crude prices and improved performance.
Rising natural gas prices may impact urea production: Icra
The rising natural gas prices in recent times are expected to adversely impact domestic urea production in FY19, Icra said in a report. Domestic gas price for the second half of FY19 is also expected to increase owing to increase in international gas prices, which will result in further upward movement in pooled prices, the rating agency added. "The rise in gas prices has been adversely impacting urea players," it said. With the rising share of high cost R-LNG in the gas consumption mix for the fertiliser sector, firm international spot gas prices and higher term LNG prices given the high crude oil prices; pooled price for the fertiliser sector is expected to remain elevated in the near term, it added. Icra said rising gas prices will lead to higher subsidy receivables for the urea players, leading to higher working capital borrowings and associated interest costs leading to negative impact on profitability. "The impact, however, will be largely offset by the energy ...
Gold grinds lower as the dollar strengthens
LONDON (Reuters) - Gold prices edged lower on Thursday after an upbeat assessment of the U.S. economy by the Federal Reserve and new trade tensions between Washington and Beijing boosted the dollar and U.S. bond yields.
Oil nears two-week lows after signs of supply pickup
LONDON (Reuters) - Oil prices fell for a third day on Thursday, nearing their lowest in two weeks following a surprise increase in U.S. crude inventories that added to existing concern about the rapid rise in global crude supply.
Exide to start making lithium-ion battery from next fiscal
Battery maker Exide Industries plans to start manufacturing lithium-ion batteries in the second quarter of next fiscal, an official said on Thursday.
Fetomed Laboratories to merge with LifeCell International
Stem cell bank major LifeCell International on Thursday said its subsidiary Fetomed Laboratories will be merged with itself by the end of this year following acquisition of its entire stake.
Railways likely to increase vacancies to 60,000
The Railway Ministry on Thursdasy announced that it is likely to increase the vacancies for Assistant Loco Pilots and Technicians from 26,502 advertised earlier to nearly 60,000.
Indiabulls Housing Fin Q1 net up 30 pc to Rs 1,049 cr
Indiabulls Housing Finance has reported a rise of 30 per cent in consolidated net profit at Rs 1,048.68 crore for the quarter ended June. The company's net profit in the corresponding April-June period of 2017-18 stood at Rs 804.89 crore. In a regulatory filing, the company said its total revenue during the quarter increased to Rs 4,071.32 crore from Rs 3,288.24 crore in the year-ago period. The company said it has adopted the Indian Accounting Standards (Ind AS) from April 1, 2018 and the effective date of the transition is April 1, 2017. On a standalone basis, the net profit in April-June period of 2018-19 was up 29 per cent to Rs 967.95 crore against Rs 749.99 crore earlier. Income increased to Rs 3,789.45 crore from Rs 3,115.59 crore. Stock of the company closed 1.22 per cent higher at Rs 1301.15 on the BSE.
World sugar prices to end 2018 sharply lower as global glut weighs: Reuters poll
LONDON (Reuters) - World sugar prices are poised to recover some ground in the coming months but will still post sharp losses this year, as a larger than expected supply surplus weighs on the market, a Reuters survey of 10 analysts and traders showed on Thursday.
U.S. jobless claims up slightly; factory orders rise
WASHINGTON (Reuters) - The number of Americans filing for unemployment benefits rose less than expected last week, pointing to sustained strength in the labor market despite trade tensions.
Credit Suisse picks Luxembourg, Madrid, Frankfurt as post-Brexit hubs
ZURICH (Reuters) - Credit Suisse will likely move around 50 investment bankers to Germany, 50 to Madrid, and up to 150 more to other European Union hubs including Luxembourg in the event of a hard exit by Britain from the bloc, sources close to the matter said.
BMW builds X5 in Thailand to counteract U.S. China tariffs: CEO
FRANKFURT (Reuters) - BMW's said it is producing between 10,000 and 20,000 X5 sports utility vehicles in Thailand as a way to supply Chinese customers now that imported vehicles from the United States face a 40 percent tariff.
DDCA names new CEO, CFO & COO
The Delhi & District Cricket Association (DDCA) on Thursday announced the appointment of Ravi Kant Chopra as Chief Executive Officer (CEO), P.C. Vaish as Chief Financial Officer (CFO) and G.R. Saxena as Chief Operations Officer (COO) of its governing body.