Page 3296 - Business Finance
Tepid global cues keep equity indices flat; TCS shares rise 5.5% (Roundup)
Amid volatility, the key Indian equity indices settled flat on Wednesday tracking weak global cues.
Japanese Toray Industries breaks ground for Rs 1,000 cr plant in Sri City
A day after the Central government ranked Andhra Pradesh first for ease of doing business, Japanese material major Toray Industries held a ground breaking ceremony for its new facility at Sri City near here.
Alliance Air launches services from Belgaum to Bengaluru
Alliance Air, the wholly-owned subsidiary of national carrier Air India, today launched its services from Belgaum to Bengaluru. The three-times-a-week flight will be operated an ATR 72 aircraft, Air India said in a release. The maiden flight from Belgaum to Bengaluru 9I 514 was flagged off by local MP Suesh Angadi along with Air India regional director for southern zone M V Joshi and Alliance Air chief executive CS Subbiah, among others, the release added. The flight from Bengaluru to Belgaum and return will operate thrice a week on Tuesdays, Wednesdays and Saturdays, Air India said adding the new flight will boost its "Connect India" mission. ****************** Paytm launches forex services with 20 int'l currencies * One97 Communications, that owns the brand Paytm, today said it has introduced forex service for money exchange of 20 top international currencies on its platform. These multi-currency forex card and forex cash can be ordered on a real-time basis, which ...
ECB policymakers split on meaning of 'through summer', and on timing of rate hike
FRANKFURT (Reuters) - European Central Bank policymakers are split over when the ECB might raise interest rates next year, with some saying an increase is possible as early as July 2019 and others ruling out a move until autumn, according to several sources.
Toray to invest Rs 1,000 cr in manufacturing unit at Sri City
Andhra Pradesh Industries Minister N Amaranatha Reddy today laid the foundation stone for a manufacturing unit of Toray Industries (India) Limited at Sri City SEZ near Satyavedu, about 95 km from here. Speaking on the occasion, Reddy said the Japanese firm, a leading manufacturer in fibres and textiles, performance chemicals and carbon fibre material would invest about Rs 1,000 crore for the plant in 110 acres at Sri City Special Economic Zone, located on the Andhra Pradesh-Tamil Nadu border. The plant would be ready for production by 2020, Reddy added. Toray Industries Inc CEO, Akihiro Nikkaku and Andhra Pradesh Industries and Commerce Secretary, Solomon Arokia Raj were among those present.
Oil falls after Libya 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.
Thyssenkrupp chairman rules out breakup in blow to activist investors
FRANKFURT (Reuters) - Thyssenkrupp's supervisory board chairman lashed out at activist investors in an interview following the resignation of Chief Executive Heinrich Hiesinger last week, saying a breakup of the conglomerate was out of the question.
Trump targets Chinese products worth $200bn, escalates trade war
US President Donald Trump has escalated his trade war with China, saying he would impose additional 10 per cent tariffs on $200 billion worth of Chinese fish, petroleum, chemicals, handbags, textiles and other products if Beijing does not change its trade practices.
Odisha to boost efforts for more investments after biz ranking
With Odisha's rank in the ease of doing business slipping from 11th to 14th place, the state government today said the latest position strengthens the resolve to work towards making it one of the best investment destinations in the country. The annual business ranking of states and union territories was released by the Ministry of Commerce and Industry yesterday. While Odisha's ranking was 7th in 2015, it slid to 11th place in 2016. "We will further improve the position. The state has already made significant strides in implementing ease of doing business reforms with the compliance percentage going up from 52.15 per cent in 2015 to 92.09 per cent in 2017," Industries Secretary Sanjeev Chopra said. In the latest rankings, Odisha has been placed under the 'achievers' category along with West Bengal, Uttarakhand, Uttar Pradesh, Maharashtra and Tamil Nadu. "The top 14 states are bunched in a close range of six per cent and there isn't much to differentiate among them. It ..
US set to impose 10 pc tariffs on another USD 200 billion of Chinese imports, Beijing vows "counter measures"
Ramping up the US-China trade war, the Trump administration today announced 10 per cent tariffs on an additional USD 200 billion worth of Chinese imports, prompting Beijing to warn of "counter measures" to safeguard its interests. The Trump administration's move comes after the US imposed 25 per cent tariffs on Chinese goods worth USD 34 billion last Friday. Beijing immediately responded with its own tariffs on US goods worth USD 34 billion. The retaliatory tariffs that China enacted Friday targeted US cars and major agricultural goods, such as soybeans and meat. US Trade Representative Robert Lighthizer released a list of thousands of additional goods that could face 10 per cent tariffs after a public comment period. It includes fruit and vegetables, handbags, refrigerators, rain jackets and baseball gloves. Lighthizer said there was "no justification" for China's retaliation. "As in the past, the United States is willing to engage in efforts that could lead to a resolution of our ...
Vistara to buy 19 Airbus, Boeing planes worth $3.1 bn; to take 37 A320 neo aircraft on lease
Vistara today said it would place orders for 19 Airbus and Boeing planes worth USD 3.1 billion (over Rs 21,300 crore) and induct 37 more aircraft from A320 neo family on lease, as it embarks on "aggressive expansion", including flying overseas. The more than three-year old airline -- a joint venture between Tatas and Singapore Airlines -- would be purchasing 13 planes of A320 neo family from Airbus and 6 Dreamliners (787-9 aircraft) from Boeing. Vistara, which has a fleet of 21 A320 planes, plans to commence its international operations later this year. Taking into account various proposed as well as firmed up orders by domestic airlines, these carriers would add over 1,000 more planes to their existing fleets in the coming years. In a statement today, Vistara said it has agreed to place firm orders with Airbus for 13 aircraft from the A320 neo family and with Boeing for six 787-9 Dreamliner. "Together, the deals are valued at USD 3.1 billion, based on published list prices, it ...
CCD partners with Uber for food products distribution
Coffee Day Enterprises, which runs coffee chain under brand name Cafe Coffee Day, today said its subsidiary has entered into an agreement with Uber Portier B V for the distribution of food products in India. "Coffee Day Global Ltd (CDGL) has entered into an agreement with Uber Portier B V, wherein CDGL is partnering with UBER for obtaining technology services through the "UberEats" mobile application in order to enable distribution of food products," Coffee Day Enterprises said in a BSE filing. This may help to augment the retail sale, it added. UberEATS was started in 2014 as a small delivery pilot in Los Angeles and was later launched as a separate mobile app in Toronto in December 2015. Since then, it has been expanded to become a stand-alone app. UberEATS has been expanded to over 25 countries in over 90 cities covering thousand of restaurants globally, including India.
Chambal Fertilisers & Chemicals update on downstream subsidiary - Inuva
Board of Inuva approved voluntary winding up
Tata Motors to launch Tata Harrier SUV in 2019
Automobile maker Tata Motors Ltd on Wednesday announced its next generation sports utility vehicle (SUV) to be launched in 2019 has been named 'Tata Harrier'.
'IPLEX 2018' from August 3
:Over 350 exhibitors will take part in the ninth edition of 'IPLEX',an international plastics exposition, which will get underway here from August 3. "Over 350 exhibitors will take part in the expo, which is expected to attract more than 30,000 business visitors," Telangana and Andhra Pradesh Plastics Manufacturers Association president Venu Gopal Jasti and 'IPLEX 2018' Advisory Committee Chairman Anil Reddy Vennam said. They said the event provides a common platform for participants in the plastic industry- manufactures, dealers, buyers and end-users. It helps visitors and industry stay updated with the latest technological trends, they said. Telangana's Principal Secretary for Industries Jayesh Ranjan said "in Telangana, we feel proud of the plastic industry,which has shown remarkable growth trends,particularly in the last four since the formation of Telangana state'. Ranjan said an exclusive dedicated plastic park has been set up at Mankhal-Thummalur following the ...
Chinese player HOMTOM appoints product head for India
China-based handset maker HOMTOM that came to India last month on Wednesday announced to appoint Nikhil Bhutani as India Director for its product and operations.
Nspira Management Services raises around USD 75 million
Education services provider Nspira Management today said it has raised around USD 75 million in funding led by Morgan Stanley Private Equity Asia. As part of the current transaction, a fund managed by Morgan Stanley Private Equity Asia has invested about USD 67 million of primary capital into the company for a minority stake, a company release said. BanyanTree Growth Capital II also participated in this funding. The proceeds will be used to fund the organic and inorganic growth plans of the company. "We will be deploying the funds to scale our business geographically, increase our client base, develop cutting edge education products, modernise our facilities and scale up our digital business. "We will also opportunistically evaluate inorganic opportunities that are synergistic with our core business and help us diversify our offerings," Nspira MD Puneet Kothapa said. In the private education space, Nspira provides services to over 500 educational institutions with a student base of ...
Global Markets: Stocks, metals hit by new U.S. trade war salvo
LONDON (Reuters) - Stocks fell and metals prices slumped to their lowest in a year on Wednesday, as U.S. threats of tariffs on an additional $200 billion worth of Chinese goods pushed the world's two biggest economies ever closer to a full-scale trade war.
Singareni's net profit upby 207% to Rs 1,212 crore in FY18
State-owned Singareni Collieries Company Limited today said its net profit during the last financial year stood at Rs 1,212 crore up 207 per cent over the previous year. According to a press release issued by the miner, it clocked Rs 395 crore during 2016-17. SCCL garnered Rs 22,667 crore total revenue including power sale in FY18. SCCL Chairman and Managing Director, N Sridhar, said he will take up the issue of bonus to workers with Chief Minister K Chandrasekhar Rao soon. Appreciating the workers for the good performance, he hoped the trend would continue during the current year also.
FPIs turn net buyers
Net inflow of Rs 88.47 crore on 10 July 2018