Page 3274 - Business Finance
Airbus BizLab subsidiaries tie up with three Indian startups
Airbus BizLab subsidiaries, Navblue and Aerial signed contracts with three Indian startups here today with an aim to establish a newindustry benchmark in aeronautical data services, flightoperations and imagery services. The contracts were signed with Eflight, a Bengaluru-based startup, Stelae Technologies and Airpix Devices based out of Chennai and NaviMumbai respectively. "For the last couple of years I have been convinced with the potential and the quality of entrepreneurs in India. I am pleased to see that all these partnerships between Airbus andIndian startups are proving me right," Airbus BizLab, Global Head, Bruno Gutierres,said on the occasion. As part of the take-off programme, Airbus BizLab will sponsor two travels to Europe for Indian startups in a period of six months as well as fund up to 50,000 euros to them forthe demonstration of proof of concept. Navblue, Chief Strategy and Innovation Officer, Fabrice Villaum said India has aproven capacity for ...
Entrepreneurs 'Unbox' at the 2018 EO South Asia Leadership Conference
Entrepreneurs' Organization (EO), the world's leading peer-to-peer network of successful business owners, brought together over 200 member entrepreneurs from India, Bangladesh, Nepal and Sri Lanka at the 2018 EO South Asia Leadership Conference (SALC) that took place in Mumbai. Leadership teams that work to deliver member value have come together at the EO SALC to plan the year ahead, build connections and share.This year, the theme of the conference was 'Unbox'. In addition to learning, it is also focused on enhancing the reach and impact of EO programs such as the EO Global Student Entrepreneur Awards (GSEA), EO Accelerator and EO CARES, each of which helps support the next wave of entrepreneurs.Global leaders in attendance at the EO SALC this year included Rosemarie "Bubu" Andres, EO Global Chair; Brian Brault, Outgoing EO Global Chair and Carrie Santos, CEO of EO.Abhay Mehta, Regional Chair, EO South Asia, said, "Entrepreneurship across South Asia is on a high growth curve and we .
Skyrocketing vegetable prices hit consumers
The latest jump in Consumer Price Index is pinching consumers due to increasing prices of vegetables and fruits in the market.It was expected that prices of fruits and vegetables would come down after the hot summer season. However, prices have doubled, putting the buyers in worry.Tomato and Okra prices have increased drastically. At present, Tomato is being sold at Rs 30 to Rs 40 and good quality Okra price has crossed Rs 25 per kg.The average price of every vegetable in the wholesale market is Rs 22 per kg.Citing heavy rainfall as the major reason for skyrocketing vegetable prices, Naim, a Delhi-based vegetable seller said supply vegetables has come down from 100 per cent to 70 per cent."Customers nowadays are buying fewer vegetables as the prices have gone up in the recent days due to torrential rainfall in the nearby areas. This adversely affected our customer base, " said Naim who sells vegetables at Delhi's Okhla Mandi.Another seller from Ahmedabad blamed the government for the
Embattled bike-sharing firm told to refund customer deposits
Embattled bike-sharing firm oBike must refund customers' USD 4.6 million deposits, authorities have warned, after the company quit operating in Singapore last month leaving some 14,000 bicycles strewn across the city. In the latest clash between Singapore authorities and oBike, an official this week said it was "possible" the government may take legal action against the firm if it does not refund money owed to some one million users. "I would like to emphasise again that it is oBike's responsibility to have a concrete plan to refund user deposits and remove its bicycles from public spaces," senior minister of state for transport Janil Puthucheary said in response to a parliamentary question. oBike suddenly wound up operations in the city-state last month citing difficulty in complying with new regulations, which includes controlling its fleet size and ensuring bicycles are parked in designated areas. The company, headquartered in Singapore, later revealed it had gone into liquidation,
Infosys Q1 net profit up 3.7% to Rs 3,612 cr; announces 1:1 bonus issue
The country's second-largest software services major Infosys today reported 3.7 per cent growth in consolidated net profit at Rs 3,612 crore for the quarter ended on June 30, 2018, compared to a net profit of Rs 3,483 crore in the year-ago period. Revenues from operations of the Bengaluru-based firm grew 12 per cent to Rs 19,128 crore in the April-June quarter compared to Rs 17,078 crore in the year-ago period, Infosys said in a BSE filing. Infosys board has approved issuance of one free share for every share held (that is a 1:1 bonus issue). "The Board in its meeting...has considered, approved and recommended a bonus issue of one equity share for every equity share held and a stock dividend of one American Depositary Share (ADS) for every ADS held, as on a record date to be determined," the company said in the regulatory filing. Infosys has maintained revenue growth outlook at 6-8 per cent in constant currency for fiscal 2019. It had also maintained FY 2018-19 operating margin ...
Gold slides to 1-week low as dollar climbs
LONDON (Reuters) - Gold prices slid on Friday to their lowest in more than a week as the dollar rose due to easing trade tensions and weak demand for the precious metal due to expectations of higher interest rates in the United States.
JPMorgan reports 18.3 percent rise in profit
(Reuters) - JPMorgan Chase & Co reported an 18.3 percent rise in quarterly profit on Friday, helped by tax gains, a rise in interest rates and higher trading revenue.
Evaluating entering various tyre segments in India: Goodyear
Tyre maker Goodyear India is evaluating to enter various segments, including commercial vehicles tyres, as part of plans to expand operations in the country, a top company official said today. The company, which today launched a new tyre range -- Assurance TripleMax 2, caters to six segments globally, including tyres for passenger vehicles (PVs), commercial vehicles and aircrafts, but in India it is confined to PVs and farm verticals. "We are keenly looking at all the main product lines that exist in the market. Farm and consumer we are already there. Other product lines, we are also looking and considering. As and when we have the opportunity, will definitely consider," Goodyear India Vice President (Consumer Business) P K Walia told reporters here. In commercial segment, the company is looking at the opportunity, he added. "As and when the decision is taken, we will act on it," Walia said. He said the company sells various kinds of tyres like the ones catering to aircraft even when .
No question of closure of DCI; 3 ports to pick up govt stake: Gadkari
There is no question of closure of state-owned Dredging Corporation of India (DCI) as three major ports including Visakhapatnam Port plan to pick up government stake in the company, said Shipping Minister Nitin Gadkari. "At the department level, we have taken a decision. The three major port are now ready to acquire DCI. We have already submitted cabinet note for approval of the cabinet," he said. Besides Visakhapatnam, he said Paradeep Port and New Mangalore Port will buy stakes in the company. There is also plan to restructure the company so that professionally it becomes strong, he said. "So, the question does not arise about the closure of Dredging Corporation of India," he said. Currently, the government holds 73 per cent stake in the company. The sale could bring around Rs 1,400 crore to the exchequer. The company is under the administrative control of the Shipping Ministry. It is involved in maintenance dredging, capital dredging, beach nourishment, land reclamation, shallow ...
UK Takeover Panel says Disney would need to bid at least 14 pounds/share for Sky
(Reuters) - Britain's Takeover Panel said on Friday that Disney would need to make a minimum bid of 14 pounds per share for Sky Plc if it succeeds in buying Twenty-First Century Fox.
US hedge fund demands $770m from S Korea over Samsung merger
A US hedge fund is demanding almost $800 million from South Korea at an international tribunal over the controversial merger of two units of the giant Samsung conglomerate, officials said today. The 2015 deal, in which fashion, food and leisure operator Cheil Industries took over construction company Samsung C&T for $8.0 billion, featured in the sprawling corruption scandal that brought down ousted president Park Geun-hye. The transaction -- which activist fund Elliott Associates and other shareholders said wilfully undervalued C&T -- was seen as a key step to ensuring the succession of Samsung heir Lee Jae-yong. It went through after the National Pension Service (NPS) -- C&T's biggest shareholder -- approved it. Prosecutors accused Lee of seeking government backing for the deal, and at trial he was found guilty of bribery and sentenced to five years in prison, although most of his convictions were later overturned on appeal. Now US-based Elliott, whose whose 7.12 per cent
Erasing gains equity indices end flat; banking stocks fall
Shedding all the gains made early in the day, the key Indian equity indices ended flat on Friday weighed down by heavy selling in banking, capital goods and healthcare stocks.
Globak Markets: Stocks rally before earnings, trade war jolt boosts dollar
LONDON (Reuters) - World stocks rose for a second consecutive week on Friday as investors prepared for an expected run of strong earnings in the United States, although fears about the U.S.-China trade conflict kept gains in check and pushed the dollar higher.
IKEA postpones launch of first India store
Leading Swedish home furnishings retailer IKEA has postponed the launch of its first India store here to August 9, it was announced on Friday.
Infosys shares gain over 2 pc ahead of quarterly results
Shares of Infosys today rose by over 2 per cent ahead of its June quarter results. The IT major's stock settled at Rs 1,309.10, up 1.12 per cent on the BSE. Intra-day, it gained 2.83 per cent to Rs 1,331.35. The company announced its quarterly results after the market closed today. On the NSE, shares of the company went up by 2.21 per cent to close at Rs 1,323. The company's market valuation moved up by Rs 3,167.08 crore to Rs 2,85,924.08 crore. In terms of equity volume, 11.06 lakh shares of the company were traded on the BSE and over 97 lakh shares changed hands on the NSE during the day.
Video content on Juggernaut books to feature on SHAREit
Publisher Juggernaut Books on Friday announced its partnership with content platform SHAREit, enabling its Indian users to access English and Hindi video summaries of its books.
'India's private sector well positioned to support govt in its Smart city Mission project'
India's private sector, including startups, are well positioned to support the centre and state governments in achieving the Smart City Mission project, Michael Koh, an experienced Singaporean urban designer, has said. "The Indian private sector and governments are working together to achieve the smart cities mission," said Koh, who is a fellow at the Centre of Liveable Cities (CLC) here. Presently, the CLC provides advice on urban planning and governance to Andhra Pradesh Government in the development of Amaravati, the planned 217-sq km greenfield capital city of the southern Indian state. Andhra Pradesh Chief Minister Chandrababu Naidu often brands Amaravati as India's Singapore in the making. About 200 Indian officials have attended CLC's various capability development programmes over time, of which approximately 100 were from Andhra Pradesh, and the other 100 from the Union Urban Affairs Ministry's Town and Country Planning Organisation. "We look forward to continue exchanging ...
Gold buying picks up in India on low prices
MUMBAI/BENGALURU (Reuters) - Demand for physical gold in India picked up this week as prices fell to a five-month low, but buyers in other major centres in Asia awaited a bigger correction before placing orders, traders and analysts said.
China fiscal policy has 'ample room' to support economy: c.bank research head
BEIJING (Reuters) - China's fiscal policy has "ample room" to support the economy, the central bank's chief researcher said in an opinion column on Friday, adding that the policy has not been active enough.
Sensex, Nifty post second straight weekly gain
(Reuters) - Indian equity markets were little changed on Friday, but ended higher for a second straight week, as gains in blue-chips such as Infosys Ltd were offset by losses in state-run lenders.