Page 3298 - Business Finance
American Express launches company expense management solutions
Financial services multinational American Express' (Amex) Indian arm on Wednesday came out with a series of expense management solutions designed to help customers plug leakages in corporate spending, particularly on travel and entertainment expenses.
Markets extend winning run for 4th day; TCS spurts 5.47 pc on Q1 show
Benchmark Sensex rose over 26 points to close at 36,265.93 today, powered by a rally in IT bellwether TCS following better-than-expected quarterly results. TCS spurted 5.47 per cent to its lifetime high of Rs 1,979.60, a day after the country's largest software exporter posted a 23.4 per cent rise in consolidated net profit for the June quarter. Extending its winning run for the fourth day, the 30-share barometer, after opening on a strong footing on optimistic buying by participants, gathered momentum to touch a high of 36,362.30. However, it shed some ground on profit-booking and slipped to touch a low of 36,169.70, before finally finishing at 36,265.93, up by 26.31 points, or 0.07 per cent. The 50-share NSE Nifty too closed at 10,948.30, up just 1.05 points, or 0.01 per cent, after moving between 10,976.65 and 10,923. Meanwhile, domestic institutional investors (DIIs) net bought equities to the tune of Rs 293.96 crore, while foreign portfolio investors (FPIs) sold shares worth Rs ..
Sensex provisionally settles with small gains
A divergent trend was witnessed as the Sensex provisionally settled with small gains while the Nifty settled marginally lower. The barometer index, the S&P BSE Sensex, rose 26.31 points or 0.07% at 36,265.93, as per the provisional closing data. The Nifty 50 index fell 1.40 points or 0.01% at 10,945.85. Global cues were weak as trade tensions escalated after US planned additional tariffs on Chinese goods.
Chinese smartphone entrant HOMTOM appoints India head
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.
India cuts Iranian oil imports in June ahead of U.S. sanctions
NEW DELHI (Reuters) - Indian refiners cut imports of Iranian oil last month as they started weaning their plants off crude from the country to avoid sanctions by the United States that are set to take effect in November.
Brent oil falls more than $2 after Trump tariff threat, Libya ports reopen
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.
Steelbird inks pact to bring Blauer HT helmets in India
Helmet manufacturer Steelbird Hi-Tech India today said it has tied up with Blauer HT, a leading helmet brand in America and Europe. As part of the exclusive tie up, the Indian firm would be able to manufacture and supply Blauer HT helmets to FGF Industry Srl for worldwide distribution. For the Indian market, Steelbird would be the sole entity for marketing the Blauer HT helmets. It plans to introduce the brand in Indian market by early next year. The brand Blauer HT is owned by Blauer World Fashion Srl and is exclusively licensed to FGF Industry Srl engaged in the business of manufacturing and marketing of helmets, clothing apparels, sneakers and accessories in Italy and exporting the same to Europe and America. "With the exclusive tie up, Steelbird will be manufacturing and supplying Blauer HT Helmets to FGF Industry Srl for worldwide distribution except India," Steelbird Group Managing Director Rajeev Kapur said in a statement. The company also plans to import and distribute ...
India surpasses France to become world's sixth largest economy
India has become the world's sixth largest economy overtaking France, according to World Bank data on gross domestic product (GDP) of countries for 2017.Ranking below United Kingdom, India has recorded a GDP of USD 2,597,491 million, followed by USD 2,582,501 of France, while United Kingdom recorded a GDP of USD 2,622,434 million.United States has topped the list recording a GDP of USD 19,390,604 million, followed by China with USD 12,237,700 million.Earlier, the World Bank noted that the Indian economy recovered from the effects of demonetisation and the Goods and Services Tax (GST) and predicted a growth rate of 7.3 percent for the country in 2018.The International Monetary Fund (IMF) also stated that it expected India to re-emerge as one of the fastest growing major economies in the 2018 - 2019 period, projecting the country's growth rate at 7.4 percent in 2018.Further, the international financial organisation forecasted a rate of growth of 7.8 percent for 2019.
Hardcastle & Waud Mfg Co announces resignation of directors
With effect from 11 July 2018
SmartVizX raises Rs. 10 cr pre-series A funding led by IAN Fund, YourNest Venture Capital
Indian startup SmartVizX on Wednesday announced securing funds worth Rs. 10 crore in pre-series A funding from Indian Angel Network's IAN Fund and YourNest for its next phase of global expansion."SmartVizX is the first Indian company to offer a VR platform which will revolutionize the architecture-engineering-construction (AEC) industry," said co-founder and MD SmartVizX, Tithi Tewari.He added that leveraging the deep understanding of the AEC Industry and VR, the company has created an extremely customer-centric product which architects and designers can introduce into their workflow and create efficiencies while dealing with customers and building product suppliers."This fund-raise will enable us to scale-up and help Trezi foray into global markets," added Tewari."Conceptualized and created by architects with over 40 years of accumulated experience, SmartVizX aims to provide smart and holistic solution for customers. IAN spotted this potential early on and decided to support the ...
Indian startup among three to sign MoUs with Amaravati developers
An Indian company is among three startups that have signed a memorandum of understanding with the Andhra Pradesh government, to offer solutions for the development of Amaravati, the state's new capital. UrbanStack is among the winners of the Amaravati Pitch Competition, results of which were announced by the Singapore and Andhra Pradesh governments at the World Cities Summit 2018 here. The startup is an integrated data sharing platform that collects urban movement data for early intervention and policy making with the mobility patterns that emerge, said the Singapore's Ministry of Trade and Industry (MTI) in a statement yesterday. Singapore startups, ECOSOFTT and SpaceAge Labs, also signed the MoUs with the APCRDA. The Amaravati Pitch Competition allows startups and Small and Medium Enterprises (SMEs) the opportunity to pitch innovative solutions to create liveable and sustainable 21st century cities. The competition is one of the initiatives under the Innovation Corridor which was ..
Maha govt justifies online application process for farm loan
The Maharashtra government today justified the process of inviting applications online for farm loan waiver, saying it is designed to ensure only the poor and needy get benefits of the scheme. The BJP-led state government had in June last year launched a scheme to provide Rs 34,000 crore debt relief to 89 lakh financially distressed farmers. The opposition Congress and NCP recently alleged that even after a year, the promise of providing loan waiver to 89 lakh farmers was yet to be fulfilled. Replying to a debate on farmers' issues in the Legislative Assembly, state Co-Operation Minister Subhash Deshmukh said the figure of Rs 34,000 crore for waiving loans of 89 lakh farmers was provided previously by the State Level Bankers Committee (SLBC). "We wanted to ensure that only the poor and needy farmers get help of the loan waiver scheme," he said. Justifying the online process of availing the scheme, he said, "As many as 77 lakh farmers applied online for loan waiver and ...
Trading on MCX halts briefly due to technical glitch
Leading commodity bourse MCX today said the trading was halted at its platform for a brief period in the morning due to a technical glitch. "MCX observed a technical problem with its trading system around 11:46 am today. The Exchange restarted the trading system and members were then allowed to re-login," the exchange said in a regulatory filing. The members were allowed to cancel their pending orders in the system in a special session between 12:40 pm to 12:55 pm. Thereafter, live normal trading resumed at 12:56 pm, it said. The matter is being examined for identifying the root cause which led to the issue, the exchange added.
Credit Suisse nears $360 million deadline in fraud suit built on a hunch
CHICAGO (Reuters) - When the high-end property development Lake Las Vegas collapsed during the 2008 financial crisis, 31 funds that helped finance the project lost a total of $540 million. But only one of them, Dallas-based hedge fund Highland Capital Management, aggressively pursued legal action against Credit Suisse Group AG [CSGN.S], which arranged the financing and appraisals for the project.
International conference on global water security in TL from
Ensuring water security against the backdrop of increasing demands for water and food production would be on the agenda of an international conference to be held here from October 3 to 6. 'The Global Water Security Conference for Agriculture and Natural Resource' would be organised by the American Society of Agricultural and Biological Engineers (ASABE) in collaboration with the Indian Society of Agricultural Engineers (ISAE). "The demand for water for agriculture and natural resources is expected to increase 20 per cent to meet the 70 per cent increase in food production needed to feed 9.6 billion people in 2050," conference co-chair Indrajeet Chaubey, told reporters here today. The event would bring together a variety of stakeholders, including researchers, farmers and policymakers, said Chaubey, associate dean and director of international program in agriculture, Purdue University. "India faces many water challenges. However, India is making significant progress to ..
Vistara orders Boeing, Airbus jets worth $3.1 billion in growth plan
NEW DELHI/SINGAPORE (Reuters) - Indian airline Vistara has placed firm orders for six Boeing Co 787 jets and 13 Airbus SE A320neos valued at $3.1 billion at list prices, as it looks to add more domestic flights and launch international routes later this year.
Nissan India Managing Director Jerome Saigot quits
Japanese auto major Nissan today said its managing director for Indian operations, Jerome Saigot, has resigned to pursue a career outside the group. Saigot, who was Vice President, Marketing and Datsun Business Unit, was elevated last year to take over responsibility for sales and marketing of both Nissan and Datsun brands of Nissan Motor India Pvt Ltd (NMIPL). "Management change is a part of any business. Jerome has decided to pursue his career outside of Nissan Group," NMIPL said in a statement. He had joined NMIPL in 2015 and was responsible for the launch of Datsun brand in India. Saigot reported to Nissan India Operations President Thomas Kuehl. In 2015, Nissan launched the Datsun Go hatchback in India, marking the global comeback of the brand after nearly three decades. The brand, however, has not been successful in making a strong presence in the Indian market.
UPL Ltd leads losers in 'A' group
Motherson Sumi Systems Ltd, The Ramco Cements Ltd, Steel Authority of India Ltd and Bharat Electronics Ltd are among the other losers in the BSE's 'A' group today, 11 July 2018.
SEAMEC gets contract for charter hire from ONCG
The total contract value will USD 22.1 million inclusive of GST.
Paytm launches forex services
Payments-wallet services provider Paytm on Wednesday said it has launched foreign exchange services in 20 international currencies.