Page 3294 - Business Finance
Murdoch's Fox ups Sky bid to $32.5 billion, all eyes on Comcast
LONDON (Reuters) - Rupert Murdoch's 21st Century Fox has raised its offer for Britain's Sky in an agreed deal valuing the pay-TV group at $32.5 billion, seeing off rival bidder Comcast for now.
Focus - U.S.-China trade row helped BASF land $10 billion Guangdong chemicals coup: sources
BEIJING (Reuters) - Germany's BASF managed to wrap up a preliminary deal to build China's first wholly foreign-owned chemicals complex quite quickly, aided in part by trade tensions between Beijing and Washington, sources with knowledge of the matter said.
OPEC sees lower 2019 demand for its oil, points to return of surplus
LONDON (Reuters) - OPEC on Wednesday forecast world demand for its crude will decline next year as growth in consumption slows and rivals pump more, pointing to the return of an oil market surplus despite an OPEC-led pact to restrain supplies.
Services, motor vehicles lift U.S. producer prices in June
WASHINGTON (Reuters) - U.S. producer prices increased slightly more than expected in June amid gains in the cost of services and motor vehicles, leading to the biggest annual increase in 6-1/2 years.
Exclusive: Apollo approaches Nexstar about possible acquisition, sources say
(Reuters) - Buyout firm Apollo Global Management LLC has approached Nexstar Media Group Inc, an operator of TV stations reaching close to 40 percent of U.S. households, to express interest in acquiring it, according to people familiar with the matter.
Telecom Commission clears net neutrality rules, new policy
The Telecom Commission today approved net neutrality rules which bar service providers from discriminating against Internet content and services by blocking, throttling or granting them higher speed access. Some mission critical applications or services like remote surgery and autonomous cars will however be kept out of the purview of net neutrality framework. "The Telecom Commission (TC) today approved net neutrality as recommended by Trai expect some critical services will be kept out of its purview," Telecom Commission Chairman Aruna Sundararajan told reporters here. The Telecom Regulatory Authority of India (Trai) had recommended restrictions on service providers from entering into agreements which lead to discriminatory treatment of content on the Internet. Trai had favoured tweaking of licensing norms of players to ensure "explicit restrictions" on discrimination in Internet access, based on content. The Department of Telecom will set-up a multi-stakeholder body for monitoring ..
Panasonic India sees strong growth in home appliances business
Consumer durables major Panasonic India today said it was witnessing strong growth in the home appliances segment with made-in-India refrigerators. "We aim for strong growth in the home appliances business. In FY19, revenue will be about Rs 800 crore from Rs 550 crore last fiscal. By 2021, we are aiming to double the same to Rs 1,600 crore," Panasonic India Home Appliances head Gaurav Minocha told PTI. The home appliances segment for Panasonic constitutes of refrigerators, washing machines and microwaves and accounts for about 16 per cent of the total consumer durables business. Minocha said with the company manufacturing refrigerators in India at its Jhajjar plant since April, this product line would see robust growth. "Last year, imported refrigerators constituted 80 per cent, while in the current fiscal, this share will be through made-in-India refrigerators," he said. The company hopes to garner three per cent market share in the frost-free refrigerator segment in ...
RIIL Jun-qtr net profit up 4 pc to Rs 1.92 cr
Reliance Industrial Infrastructure Limited (RIIL), a Reliance Group company, today reported a 4 per cent rise in its standalone net profit at Rs 1.92 crore for the quarter ended June 30, 2018. The company had clocked a net profit of Rs 1.84 crore during the same period a year ago, it said in a BSE filing. The firm's total income during the quarter under review rose to Rs 24.93 crore, from Rs 24.82 crore in the April-June quarter of 2017-18. During April-June 2018, its expenses were at Rs 21.94 crore as against Rs 22.06 crore in the year-ago quarter. RIIL is mainly engaged in the business of setting up/ operating industrial infrastructure. It provides services like transportation of petroleum products and raw water through its pipelines, construction machinery on hire and other infrastructure support services. Shares of the company today ended 1.08 per cent lower at Rs 431.35 apiece on BSE.
India emerges as world's 6th largest economy, surpasses France: WB data
India emerged as the world's sixth largest economy in 2017 surpassing France and likely to go past the United Kingdom, which is at the fifth position, according to an analysis of data compiled by the World Bank. In 2017, India became the sixth largest economy with a Gross Domestic Product (GDP) of USD 2.59 trillion, relegating France to the seventh position. As per the data, the GDP of France stood at USD 2.58 trillion. The United Kingdom, which is facing Brexit blues, had a GDP of USD 2.62 trillion, which is about USD 25 billion more than that of India, the data showed. The US is the world's largest economy with a size of USD 19.39 trillion, followed by China (USD 12.23 trillion) at the second place. Japan (USD 4.87 trillion) and Germany (USD 3.67 trillion) are at the third and fourth places, respectively. Based on GDP size, other three countries in the top ten are Brazil (8th), Italy (9th) and Canada (10th). Indian government has taken various reform measures to improve the ease of .
India Japan Partnership Group Holds "India Japan AI and Fintech Forum" in Tokyo
India Japan Partnership Group held the first India Japan AI and Fintech Forum in central Tokyo district of Marunouchi led by Mr. Sanjeev Sinha, IIT Kanpur Graduate and Founding President of IIT Alumni Association in Japan.The venue of the forum was chosen as the erstwhile Marunouchi India Economic Zone, which was co-founded in 2009 by Mr. Sanjeev Sinha of Sun and Sands Group, which has now expanded into India Japan Partnership Group, along with Mitsubishi Estate and Deloitte Tohmatsu, to help Indian companies with collaboration and funding from Japan. The Marunouchi India Economic Zone had InMobi from India as its first tenant which received the first major funding to India from Softbank of 200 million USD in a couple of years. The forum attended by industry, government and academic leaders in the domain emphasized the need for India Japan collaboration in the areas like AI and related DeepTech technologies like Fintech, Blockchain, IoT and Cyber Security.Mr. Sanjeev Sinha opened the .
Offers customised solutions to over 13,000 corporates in India
A global leader in expense management solutions, American Express offers customized expense management solutions to over 6,00,000 corporates globally, and more than 60% of Fortune 500 companies. In India, American Express works with over 13,000 large corporates and MSMEs (mid and large corporates) streamline purchasing, simplifying reporting and reconciliation processes for work-related expenses and help realize savings from more efficient expense management, minimizing reconciliation time and auditing.Indian corporates especially small and medium enterprises are now placing equal priority on expense management and on increasing revenues. However, with no fully automated processes to catch non-compliance in policies related to expenses, there is an ample room for ushering in efficiencies, especially on travel and entertainment spends, which is seen as among the top three controllable expenditures besides salaries & benefits for corporates.Sharing her views, Saru Kaushal, Vice ...
UAE free zone inks deal to promote trade ties with China
Dubai, July 11 (IANS/WAM) Dubai Multi Commodities Centre (DMCC), the biggest free trade zone in the United Arab Emirates (UAE), has signed a Memorandum of Understanding (MoU) with China Council For the Promotion Of International Trade (CCPIT), authorities said on Wednesday.
Idea-Voda merger important for stabilisation of sector, says govt
The telecom sector will stabilise once the Idea Cellular and Vodafone India merger is completed after the two firms fulfil certain 'pending formalities', the government said today. "We would like to see that the merger is completed at the earliest because we too want the sector is stabilised. This is an important step for stabilising the sector," Telecom Secretary Aruna Sundararajan told reporters. Top management of Vodafone, the British telecom major, met Telecom Minister Manoj Sinha and Sundararajan yesterday after the deal was given conditional approval by the Department of Telecom (DoT) on July 9. The two companies decided to merge their business after the sector witnessed a huge tariff war and reduction in margins with entry of new telecom operator Reliance Jio. "We have raised the demand from them. They (Vodafone executives) met me and said they will remain strong investor in India," Sundararajan said. The DoT has demanded payment of Rs 3,976 crore for one time spectrum charge
Haryana top state in per capita revenue collection under GST: Min
Haryana has topped other states in per capita revenue collection under GST, and is also the fourth highest generator of e-way bills in the country, state Finance Minister Abhimanyu said today. Haryana has widened the tax base by 82.22 per cent and logged 19 per cent hike in revenue collections, he added. Besides, the compliance percentage of assessees in the state is 5-7 per cent higher than the national average and revenue collection under commercial taxes has registered double-digit growth. Listing the state's achievements post GST rollout, he said one of the most important achievements had been widening of the tax base by 82.22 per cent. While the number of tax assessees under VAT, Central Excise and Service Tax in Haryana was 2.25 lakh before the introduction of GST, the number of dealers today is about 4.10 lakh. This is in spite of the fact that the threshold limit for mandatory registration of tax assessees has been raised from Rs 5 lakh in Haryana to Rs 20 lakh under GST, he ..
Oil falls after Libyan ports reopen, Trump tariff threat
LONDON (Reuters) - Global oil benchmark Brent fell more than $2 a barrel on Wednesday after U.S. President Donald Trump threatened to levy new tariffs on China and Libya announced the reopening of key oil export terminals.
Chairman, top shareholder rule out break-up of Thyssenkrupp
FRANKFURT/DUESSELDORF (Reuters) - A break-up of Thyssenkrupp is out of the question, according to both its supervisory board chairman and top shareholder, taking aim at investors that have called for a radical overhaul of the German industrial group.
Vistara to order aircraft worth $3.1 bn from Airbus, Boeing
Full-service air carrier Vistara on Wednesday said it has agreed to order 13 A320neo aircraft from Airbus and six Boeing 787-9 Dreamliners at a total price of $3.1 billion.
Life insurance premium collection up 10.78% to Rs 36,729 Cr in
Life insurance premium collections grew by 10.78 per cent during the first quarter of the current fiscal to Rs 36,729.79 crore against Rs 33,156.16 crore during the same quarter last year, according to figures released by insurance regulator IRDAI today. State-owned LIC's premium collections grew by 6.2 per cent to Rs 24,727.97 crore during quarter under discussion. It was Rs 23,284.10 crore in April-June quarter in FY 17. The PSU enjoyed 67.32 per cent market share in the life insurance segment followed by HDFC Standard Life with 7. 29 per cent. The total premium collection by the private players stood at Rs 12,001.82 crore in the first quarter with 21.57 per cent growth. Individual single premium grew by 7.72 per cent in the first quarter to Rs 4,954.79 crore while group non-single premium declined by 54.88 per cent to Rs 259.54 crore.
'Private equity investment in Indian real estate at $4.9 bn during January-June'
Private equity investors invested around $4.9 billion or Rs 33,700 crore in the Indian real estate market during the January-June period of 2018, a Knight Frank report said here on Wednesday.
Indian logistics sector to grow at 8-10 pc over medium term: ICRA
The Indian logistics sector is expected to grow at 8-10 per cent over the medium term, domestic ratings agency ICRA said today. "ICRA maintains a stable outlook for the Indian logistics industry, expecting it to grow at 8-10 per cent over the medium term," the ratings agency said in a statement. The demand growth would continue to be buoyed by pick up in industrial activity and consumption-led sectors, while increasing preference for outsourcing logistics activities would provide further impetus to organised players," it added. Additionally, supply side factors like improvement in logistics infrastructure and emergence of logistics start-ups would offer further impetus to growth, it said. Prevalence of trends like rise in integrated logistics, e-commerce logistics, investments in warehousing and penetration of technology in the sector, in tandem with the ongoing shift towards organised logistics players, would also induce a structural shift in the industry over the longer term, it ...