Page 3293 - Business Finance
PHDCCI-Rajasthan to help MSMEs
To stimulate the growth of Micro, Small and Medium Enterprises (MSMEs), industry body PHD Chamber of Commerce & Industry has tied up with SME Rating Agency of India (SMERA) to help entrepreneurs to get financial assistance, said PHDCCI president Anil Khaitan at the inauguration of the PHDCCI's Rajasthan State Chapter in Jaipur.
PE investment in real estate grows by 36% annually during 2014-17
The private equity (PE) investment in Indian real estate sector grew by an average 36 per cent annually to reach USD 8.6 billion in 2017 from USD 2.5 billion in 2014, according to property consultant Knight Frank. "PE investments grew at a CAGR of around 36 per cent from USD 2.5 billion (Rs 17,200 crore) in 2014 to USD 8.6 billion (Rs 59,100 crore) in 2017," the consultant said in a statement. The average investment per deal increased almost 2.5 times from USD 40 million (Rs 270 crore ) per deal in 2011 to USD 102 million (Rs 700 crore) per deal in 2017. Commenting on the report, Knight Frank India CMD Shishir Baijal said: "The real estate industry has been through a churn over the past few years due to a slew of structural reforms like demonetisation, GST and RERA". This had led to a reduction in investment risk perception coupled with availability of matured assets resulting in a record Rs 57,300 crore worth of PE investments being witnessed in 2017 alone. "The investments which ...
Taiwan firm offers to build industrial park near Bengaluru
Taiwan's leading developer Century Development Corporation (CDC) has offered to build an industrial park near the international airport on the city's northern outskirts, an official statement said on Wednesday.
Sebi tweaks stress test methodology for commodity derivatives
Sebi today modified the methodology for daily stress testing for commodity derivatives as part of strengthening the risk management system. Clearing corporations carry out stress tests to evaluate risks and possible impact on the settlement guarantee fund in various scenarios for commodity derivatives segment. In a circular, Sebi said the methodology is being modified in light of the different features and concerns of commodity derivatives markets. "... it has also been decided to prescribe modified standardised stress testing scenarios and methodology for carrying out daily stress testing for credit risk for commodity derivatives," the circular said. Further, the regulator has asked clearing corporations to use the modified method for carrying out the daily stress tests within three months. The stress test pertains to Minimum Required Corpus (MRC) of core Settlement Guarantee Fund (SGF). The regulator has fixed minimum threshold value of MRC for commodity derivatives segment of any ..
Odisha records 29% growth in revenue collection in 1st quarter
Odisha has recorded around 29 per cent growth in revenue collection in the first quarter of the 2018-19 financial year, an official said on Wednesday.
Bangladesh unveils $5.8 billion energy investment, two JV's with General Electric
DHAKA (Reuters) - Bangladesh announced two major energy deals on Wednesday, with a total $5.8 billion investment, two involving U.S. firm General Electric.
Chile aims to boost kiwifruit exports to India
Aiming to improve kiwifruit exports to India amid growing demand, the Chile fruit industry on Wednesday launched a campaign to increase trade and consumer awareness about the "superior quality" of Chilean kiwifruit in India.
Sebi says no proposal received on NSE-MCX merger
Capital markets regulator Sebi today said though the country needs more exchanges, it does not mean that existing bourses cannot merge or consolidate. Replying to a question whether Sebi has received any proposals from the equities bourse NSE and commodity exchange MCX for a possible merger, the Securities and Exchange Board of (Sebi) chairman, Ajay Tyagi, said, they have not received any such proposals. Earlier this year Sebi had allowed merger of equity and commodity exchanges under its proposed universal exchanges plan from October this year. "More players are required, but if economics demands there should be consolidation, then so be it," Tyagi told reporters on the sidelines on event on corporate bond market organised by industry body Assocham. When contacted, MCX neither confirmed nor denied media reports about it looking for a merger with NSE. "We would like to reiterate that as part of the corporate strategy, we continuously evaluate various opportunities for ...
Taiwanese developer interested in setting up industrial park
Taiwanese developer Century Development Corporation has expressed interest in setting up a modern industrial park near Kempegowda International Airport here, Chief Minister H D Kumaraswamy said here today. The CDC chairman Theodore Huang, who led the high-level delegation and Chung Kwang Tien from Economic and Cultural Centre in India today called on the chief minister and expressed their interest in setting up the industry. The chief minister hoped that the project would invite more investments from other Taiwanese industrial players in Karnataka, an official release quoted him as saying. "The proposed modern industrial park will also attract investment in industries related to robotics, aerobics, hardware, science and technology and e- commerce from many countries including Japan and China," he said. Kumaraswamy appreciated Taiwans commitment to invest in Karnataka. Industries Minister K J George, who was present at the meet, underlined Karnatakas leading role in the ...
Exclusive: Apollo approaches TV stations owner Nexstar about acquisition - sources
(Reuters) - Buyout firm Apollo Global Management LLC has approached Nexstar Media Group Inc, an operator of television stations that reach nearly 40 percent of U.S. households, to express interest in acquiring it, according to people familiar with the matter.
China says will hit back after U.S. proposes fresh tariffs on $200 billion in goods
BEIJING/WASHINGTON (Reuters) - China accused the United States of bullying and warned it would hit back after the Trump administration raised the stakes in their trade dispute, threatening 10 percent tariffs on $200 billion of Chinese goods.
RIIL Q1 net profit up 4.4% at Rs 192 lakh
Reliance Industrial Infrastructure Ltd (RIIL) on Wednesday reported
India formally becomes shareholder of European development bank
India was today formally announced as the 69th shareholder of the European Bank for Reconstruction and Development (EBRD), paving the way for more joint investment with Indian companies across the bank's regions of operation. The Indian government had applied for EBRD membership in December 2017. The EBRD board of governors, which represents all the existing shareholders, voted unanimously in favour of the country's application in March 2018, with the entire membership process completed this week. We are very proud and happy to welcome India to our Bank. This day opens a new chapter in our relations, allowing us to build further on already very close ties, said EBRD's Indian-origin president Suma Chakrabarti. India takes a shareholding in the EBRD but it will not be a recipient of EBRD financing. In the lead up to the membership, the EBRD held its inaugural business forum in Mumbai last month. The conference, co-hosted with the Federation of Indian Chambers of Commerce and Industry ...
Company director arrested for tax evasion
The director of a private company was arrested on Wednesday for tax evasion as over Rs 3 crore collected as service tax by the company from its clients was not deposited with the government exchequer.
Punjab CM lauds top ICAR ranking for GADVASU
Punjab Chief Minister Amarinder Singh today lauded the Guru Angad Dev Veterinary and Animal Sciences University (GADVASU), Ludhiana, for being ranked on top among all the State Agricultural Universities by the Indian Council of Agricultural Research (ICAR). It has also been ranked third amongst all the component institutes of the National Agricultural Research System (NARS) in the country, he said. A S Nanda, Vice-Chancellor GADVASU, will receive the award at the ICAR Foundation Day Award Ceremony, to be held on July 16, 2018, in New Delhi, an official spokesman said. The university has been recognised for its innovation as well as research and development activities in the field of livestock and fishery sector, which contributes nearly 36 per cent of the state agricultural GDP, the spokesman said. The chief minister has been advocating promotion of these sectors to encourage the state's beleaguered agricultural community to shift from the traditional crops in order to boost their ...
Cargo traffic at major ports rises 4% in Apr-Jun
The major ports in the country witnessed 3.91 per cent rise in cargo traffic to 174.02 million tonnes in the April-June quarter this fiscal. "The major ports in India have recorded a growth of 3.91 per cent and together handled 174.02 million tonnes (MT) of cargo during the period April to June, 2018 as against 167.48 million tonnes handled during the corresponding period of previous year," the shipping ministry said in a statement. Nine ports - Kolkata including Haldia, Paradip, Visakhapatnam, Kamarajar, Chennai, Cochin, New Mangalore, JNPT and Deendayal (Kandla) Port - have registered positive growth in traffic during the April-June period, it said. The highest growth of 11.93 per cent was registered by Kamarajar Port. "Kamarajar Port growth was mainly due to increase in other liquids by 29.63 per cent, other misc cargo by 15.06 per cent...and thermal and steam coal by 4.93 per cent," the statement said. Kolkata Port registered overall growth of 10.21 per cent.
29% growth in revenue collection in Odisha
Odisha government has registered a growth of 29 per cent in the revenue collection during the first quarter of 2018-19 as against the corresponding period last year. The total revenue generation in the first quarter is Rs 8,928 crore, compared to Rs 6,936 crore, the figure for the corresponding period of 2017-18, an official said. While the revenue from own tax sources during first quarters has grown by 22.25 per cent with a total collection of Rs 6445.52 crore, the revenue collected from non-tax sources registered a growth of 49.16 per cent with a total collection of Rs 2,482.34 crore. Chief Secretary AP Padhi reviewed the performance of the first quarter of the fiscal at the all secretaries meeting here during the day. The review showed that budget utilization on different plans, programmes and schemes from April to June, 2018 has been Rs 13,591 crore, showing a growth of around 19 per cent over last year's utilization up to June 2017. The social sector spending by end
California stands to suffer if US-China trade war worsens
Churning out everything from cars and computer chips to nuts and wine, California's mighty economy will suffer big time if the US-China trade war worsens. Billions of dollars and many jobs are at risk in the richest and most populous US state -- a world-class economy and bastion of opposition to President Donald Trump. "If there's one region in the US that will be most impacted by the trade war, it's going to be LA," said Stephen Cheung, former director of international trade at the Port of Los Angeles and now chairman of an NGO called World Trade Centre Los Angeles. Last year in Los Angeles-area ports, two-way trade with China totalled more than USD 170 billion, Cheung said. "China is our number one trading partner," he told AFP. The world's two largest economies have squared off in a tit for tat trade war that threatens to disrupt international commerce. "Our fear is that the cycle will keep growing to the point where it's going to depress the economy," said Cheung. California ...
Canada's Tim Hortons to enter China as it battles slump at home
(Reuters) - Fast-food company Restaurant Brands International said on Wednesday it plans to open 1,500 outlets of its Canadian coffee-and-donut chain Tim Hortons in China over the next decade, capitalizing on a growing cafe culture in the world's second-largest economy.
Oil pares losses after U.S. crude stocks fall most since 2016
NEW YORK (Reuters) - Oil futures pared losses briefly Wednesday after U.S. crude inventories fell the most in nearly two years, before trading lower in a volatile session in which supplies from Libya and Iran were expected to increase.