Page 3248 - Business Finance
Asiana Airlines stock volatile after takeover report; SK Group denies interest
SEOUL (Reuters) - South Korea's Asiana Airlines Inc saw its stock jump as much as 23 percent on Tuesday after local media reported a possible takeover by SK Group, before erasing gains after the conglomerate denied having any interest in the airline business.
Boeing lifts 20-year industry demand forecast to $6.3 trillion
FARNBOROUGH, England (Reuters) - Boeing Co raised its rolling 20-year industry forecast for passenger and cargo aircraft by three percent on Tuesday, but shaved its projections for wide-body as well as regional jets, as its battle with Airbus intensifies in smaller planes.
UK pay growth slows to 6-month low despite record employment
LONDON (Reuters) - British workers' pay growth has slowed to its weakest in six months despite record employment, challenging the Bank of England as it considers whether to raise interest rates next month for only the second time since the financial crisis.
Boeing lifts industry demand forecast as air show deals role on
FARNBOROUGH, England (Reuters) - Boeing raised its rolling 20-year industry forecast for passenger and cargo aircraft on Tuesday, as a steady flow of deals on day two of the Farnborough Airshow underscored the industry's resilience to rising global trade tensions.
Securitisation volumes up 128% to Rs 32,300cr in Jun qtr: Icra
Securitisation volumes surged by 128 per cent year-on-year to Rs 32,300 crore during the June quarter, the highest ever recorded in the first quarter, on clarity over GST and a low base,rating agency Icra said today. "The unprecedented increase in Q1 volumes for securitisation transactions could be attributed to clarification from the revenue department earlier this fiscal on the non-applicability of GST on the transfer of receivables in securitisation/assignment transactions,"said Vibhor Mittal, head - structured finance, Icra. He added that some of the large originators had stayed away from market in the previous fiscal due to this concern, leading to the low base, which helped the growth number. In the same period last year, ahead of the nationwide implementation of the goods and services tax (GST), there were investor concerns on asset quality of retail loans post demonetisation which had impacted the securitisation volumes, he said. Securitisation, which entails ...
Saudi's Riyad Bank posts 25 percent second-quarter profit rise
DUBAI (Reuters) - Riyad Bank, Saudi Arabia's fourth-largest lender by assets, posted a 25.2 percent rise in second-quarter net profit on Tuesday, in line with analysts' forecasts as fees and commission income rose.
India prepared to impose 'safeguards' if steel imports rise: government source
NEW DELHI (Reuters) - India is planning to impose "safeguards" on steel imports if the volumes coming into the country increase beyond a certain level, a government source said in New Delhi on Tuesday.
HMVL Q1 net falls 72.48% to Rs 13.2 cr
Hindustan Media Ventures Ltd (HMVL) today reported a 72.48 per cent fall in standalone net profit at Rs 13.2 crore for the quarter ended June 30, 2018. The company had posted a net profit of Rs 47.98 crore in the same quarter a year ago. The company's total income for the quarter declined by 10.40 per cent to Rs 234.65 crore from Rs 261.89 crore in the year-ago period, HMVL said in a BSE filing. Total expenses in the quarter under review stood at Rs 216.39 crore, up 11.77 per cent, as against Rs 193.6 crore reported a year ago. HMVL is into printing and publication of newspapers and periodicals, including Hindi daily Hindustan . The company's stock was trading 6.44 per cent lower at Rs 184.50 apiece on the BSE.
CSA names Thabang Moroe as chief executive
Cricket South Africa (CSA) has appointed Thabang Moroe as its new chief executive.Moroe, who has been serving as the acting chief executive for past one year, will be holding the position for the next three years.Reflecting on the appointment, CSA President Chris Nenzani said that the board has gone through a rigorous process to select Moroe for the position."Thabang Moroe's appointment follows a thorough and rigorous process to fill this important position," Sports24 quoted Nenzani, as saying."I would like to express my appreciation to the sub-committee of the Board as well as my colleagues on the board who have brought this matter to a highly satisfactory conclusion," he added.Nenzani hoped that under Moroe, CSA would reach out to greater heights."In congratulating him on his appointment I look forward to his continuing the path set out by his predecessor of achieving our goal to be the best run sports federation on the continent and to be among the best in the world," he said.The ..
D B Corp Ltd leads losers in 'A' group
Vakrangee Ltd, Kwality Ltd, PC Jeweller Ltd and Shree Renuka Sugars Ltd are among the other losers in the BSE's 'A' group today, 17 July 2018.
Chana futures up 2.05 pc on strong demand
Chana prices went up by 2.05 per cent to Rs 4,141 per quintal in futures trade today as participants were engaged in building up positions, taking positive cues from spot market on rising demand from dal mills. The uptrend in the chana prices was fuelled by tight stocks positions following drop in arrivals from producing regions. At the National Commodity and Derivatives Exchange, chana for delivery in the current month gained Rs 83, or 2.05 per cent, to Rs 4,140 per quintal with an open interest of 2,510 lots. Similarly, the commodity for delivery in August traded higher by Rs 69, or 1.65 per cent, to Rs 4,250 per quintal in 78,920 lots. Analysts said raising of bets by participants owing to increased demand from dal mills against restricted arrivals from producing belts kept chana prices high in futures trade.
Telia to buy TDC's Norway business in $2.6 billion deal
STOCKHOLM (Reuters) - Swedish telecom operator Telia Company said on Tuesday it was buying operator TDC's Norwegian business for 21 billion Norwegian crowns ($2.60 billion) in a deal that would boost its broadband and TV offering.
Walmart partners with Microsoft for cloud solutions
Retail giant Walmart today said it has entered into a five-year partnership with Microsoft to leverage its cloud solutions for making shopping faster for its customers globally. As part of the partnership, Walmart will tap into the full range of Microsoft's cloud solutions, including Microsoft Azure and Microsoft 365, for enterprise-wide use to help standardise across the company's family of brands, the Bentonville Arkansas-based firm said in a release. Walmart and Microsoft engineers will collaborate on the assessment, development, and support phase of moving hundreds of existing applications to cloud-native architectures, it added. "Walmart's commitment to technology is centred around creating incredibly convenient ways for customers to shop and empowering associates to do their best work," Walmart chief executive officer Doug McMillon was quoted as saying in the release. "Whether it's combined with our agile cloud platform or leveraging machine learning and ...
Only 65% firms globally have cybersecurity experts: Gartner
Only 65 per cent organisations globally have a cybersecurity expert even as 95 per cent of Chief Information Officers (CIOs) expect cyber threats to increase over the next three years, a report said on Tuesday.
Ashok Leyland Q1 profit jumps over 3-fold to Rs 370.1 cr
Hinduja flagship firm Ashok Leyland today reported over three-fold jump in standalone net profit at Rs 370.1 crore in the first quarter ended June 30, riding on robust sales. The company had posted standalone net profit of Rs 111.23 crore in the same quarter last fiscal, Ashoky Leyland said in a BSE filing. The company said revenue from operations during the period under review was at Rs 6,250.12 crore. It was at Rs 4,534.46 crore in the same quarter last fiscal. The two figures are not comparable as after GST implementation on July 1, 2017, revenue from operation is shown as net of GST. Ashok Leyland Managing Director Vinod K Dasari said, during the quarter, the total industry volume registered 84 per cent growth primarily driven by surge in infrastructure spend resulting in higher sales. "There was also the impact of base effect. We continued our focus on profitable growth and tight control on working capital, in a market which operated on heavy discounting and credit push," he ...
Coriander futures fall 2.97 pc on subdued demand
Coriander prices fell 2.97 per cent to Rs 4,541 a quintal in futures market today as participants trimmed holdings in-line with subdued demand at the spot market. Further, increased arrivals from major producing belts weighed on the coriander futures. At the National Commodity and Derivatives Exchange, coriander prices for delivery in September declined by Rs 139, or 2.97 per cent, to Rs 4,541 per quintal with an open interest of 7,660 lots. Similarly, rates for August were trading lower by Rs 132, or 2.86 per cent, to Rs 4,482 per quintal in 33,250 lots. Market analysts attributed the fall in coriander futures to sluggish demand in the physical market against adequate stocks position on increased supplies from producing regions.
Kanani Industries Ltd leads losers in 'B' group
Vardhman Polytex Ltd, Nagreeka Capital & Infrastructure Ltd, Aanchal Ispat Ltd and Hind Syntex Ltd are among the other losers in the BSE's 'B' group today, 17 July 2018.
Volumes spurt at Magma Fincorp Ltd counter
Magma Fincorp Ltd notched up volume of 21.88 lakh shares by 14:14 IST on NSE, a 25.21 fold spurt over two-week average daily volume of 86792 shares
Nifty touches 11,000 mark
The market firmed up once again and hit fresh intraday in mid-afternoon trade. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 130.07 points or 0.36% at 36,453.84. The Nifty 50 index was up 53.45 points or 0.49% at 10,990.30. Nifty touched the psychologically important 11,000 mark in mid-afternoon trade.
Finmin likely to infuse about Rs 10K cr soon in PSU banks
The finance ministry is likely to infuse about Rs 10,000 crore within a few days in some state-owned lenders including PNB, Corporation Bank and Central Bank of India, to help them meet regulatory capital requirement, sources said. Some of these banks have come under pressure because of interest payment to their bond holders of Additional Tier 1 (AT-1) bonds, sources said. As a result, they were facing the risk of breaching the regulatory capital requirement, sources said, adding that the ministry has decided to provide capital to 4-5 banks which are facing "acute shortage". Banks raise capital through AT1 bonds, which are perpetual in nature and therefore provide higher interest rates to investors. A high level of bad loans and widening losses have made it difficult for banks to service these bonds from their own earnings. The sources said that capital infusion may take place this week itself or latest by next week in some of banks including Punjab National Bank, Central Bank of ...