Page 3310 - Business Finance
Trade tensions send German investor morale to six-year low
BERLIN (Reuters) - The mood among German investors slumped in July to its lowest since August 2012, a survey showed on Tuesday, soured by concerns about escalating trade tensions with the United States.
US-based Netgear appoints Kaira as retail distributor in India
US-based networking leader Netgear on Tuesday announced its tie-up with Singapore-based IT product distributor Kaira for the Indian market.
RBI invites applications CEO post of National Centre for Financial Education
The Reserve Bank of India has invited application for the post of CEO of the National Centre for Financial Education (NCFE), an institution set up in collaboration with other financial regulators. NCFE is a joint initiative of all financial sector regulators - RBI, Sebi, Irdai and Pfrda - for the implementation of the National Strategy for Financial Education (NSFE). The process of incorporation of NCFE as a section (8) company has commenced. Applications are invited for the post of CEO, NCFE, RBI said in a release today. The CEO is expected to provide administrative, operational and strategic leadership to the NCFE under the overall guidance of its board of directors, it said. "The CEO should have the vision and ability to transform NCFE into an institution of national importance," RBI said. He/she will exercise general supervision and control over the day-to-day affairs of the institute and implement the decisions of its governing board, it said further. The applicant is expected to
OYO acquires AblePlus for undisclosed amount
Hospitality firm OYO today said it has acquired Mumbai-based Internet of Things (IoT) technology company AblePlus to enhance and strengthen its technology portfolio. The company, however, did not disclose financial details of the deal. With this partnership, OYO aims to create a sustainable ecosystem powered by technology and artificial intelligence for managing hotels and assets, OYO said in a statement. "With the introduction of IoT into the basic precincts of hotel management, we aim to enhance customer and partner experiences by roping in the best of technology capabilities that are changing how India sees hospitality today," OYO Chief Technology Officer Anil Goel said. Through increased technology intervention that enables the remote monitoring and management of rooms across properties, the company will be able to achieve improved operational efficiency, thus creating a superior stakeholder experience, he added. The company also plans to launch several other integrated technology
Tesla moves first to hike prices in China as trade war hits car makers
BEIJING/SHANGHAI (Reuters) - U.S. carmaker Tesla Inc has hiked prices on its Model X and S cars by about 20 percent in China, the first automaker to do so in the world's top automotive market in response to mounting trade tensions between the countries.
Factbox: German companies sign contracts with Chinese partners
FRANKFURT (Reuters) - German companies signed a series of agreements with Chinese partners during a visit by Chinese Prime Minister Li Keqiang to Germany on Monday and Tuesday.
BMW to make electric MINIs in China with Great Wall Motor
BMW Group and China's biggest SUV brand, Great Wall Motor, have announced a partnership to produce electric MINI vehicles in China. Today's announcement comes as automakers pour billions of dollars into creating electric models for China, the biggest market for the technology, under pressure from Beijing to accelerate development. BMW and Great Wall said the venture also will produce electric vehicles under the Chinese partner's brand. Other automakers including General Motors Co., Volkswagen AG and Nissan Motor Co. have announced similar plans with local partners to produce dozens of electric models for China.
Tempers flare as Sorrell beats WPP in battle for Dutch agency
LONDON (Reuters) - Martin Sorrell beat WPP in the race to buy a Dutch digital agency on Tuesday, infuriating his former company and revealing the animosity raging between the two sides.
Board of Paramount Communications approves preferential allotment of 1.70 crore equity shares
At meeting held on 10 July 2018
PV sales register fastest monthly growth in ten years in June
Passenger vehicle sales in India rose by 37.54 per cent in June, the fastest monthly growth in nearly ten years, albeit low base of last year when customers postponed purchases expecting price cuts after GST rollout, inflating the growth rate. According to data released by the Society of Indian Automobile Manufacturers (SIAM), domestic passenger vehicle (PV) sales rose to 2,73,759 units last month from 1,99,036 units in June last year. The previous fastest growth witnessed by the PV segment was in December 2009 when it grew by 50 per cent. Domestic car sales were up 34.21 per cent to 1,83,885 units as against 1,37,012 units in June 2017, SIAM said. "People postponed purchases last year during this period as they expected prices to come down following the rollout of GST. So, the growth we are witnessing this year is coming on a low base of last year," SIAM Director General Vishnu Mathur told reporters here. Sales of utility vehicles, cars and vans grew by 47.11 per cent, 34.21 per cent
LIC unions oppose acquisition of IDBI Bank by insurer
LIC employee unions have said that they are against the proposal for the insurer to acquire 51 per cent stake in IDBI Bank as it would be hurt the interest of policyholders and their premium money. Citing past performance of the investments made in the public sector banks (PSBs), Federation of LIC Class-I Officers Association said: "There is considerable erosion in the share value of these banks which may affect our profitability also. "In a way, we are forced to participate in the bank recapitalisation programme. The acquisition of a major stake in IDBI has to be viewed with concern in this context." As per reports, LIC has been made to invest Rs 1,850 crore in PSBs in 2014-15 and 2,539 crores in 2015-16, the federation said in a letter to the LIC Chairman. LIC currently holds 11 per cent stake in IDBI bank and its total stressed portfolio is 35.9 per cent of total loans. The gross non-performing assets at the end of March quarter stood at Rs 55,588 crore. This means that the bank ..
Astral Poly spurts after board OKs acquisition of Rex Polyextrusion
Astral Poly Technik rose 3.49% to Rs 1035 at 14:55 IST on BSE after the company said its board approved the acquisition of Rex Polyextrusion.
Global device shipments facing flat growth in 2018: Gartner
After suffering a decline of three percent in 2017, global shipments of devices including PCs, tablets and mobile phones are forecast to record a mere 0.9 per cent growth to reach 2.28 billion units in 2018, market research firm Gartner said on Tuesday.
Hexaware Technologies Ltd leads losers in 'A' group
Motilal Oswal Financial Services Ltd, Kwality Ltd, Page Industries Ltd and Adani Transmission Ltd are among the other losers in the BSE's 'A' group today, 10 July 2018.
Select centers' freight rates fall on tight cargo movements
Freight rates for nine-tonne pay load section for select destinations weakened by Rs 1,000 at the local truck transport market in the national capital today following excess availability of trucks as compared to cargo movements. Transporters said, huge positions of trucks in the market along with restricted cargo movements caused the fall in freight rates of some destinations. Delhi to Ahmedabad, Baroda and Surat freight rates dropped by Rs 1,000 each to Rs 23,000, Rs 25,000 and Rs 28,000, respectively. Rates to Chennai, Mysore and Puducherry also went down by Rs 1,000 each to Rs 64,000, Rs 66,000 and Rs 68,000, respectively.
Haryana real estate regulator serves notice on Supertech for cheating homebuyers
The Haryana Real Estate Regulatory Authority (HRERA) has issued a notice to Supertech Limited for allegedly cheating homebuyers for a non-existent residential project, an official said today. HRERA chairman K K Khandelwal said in an official statement that the authorities approved neither a project nor any plan, but the real estate developer allegedly sold dwellings units. The notice was issued on a complaint filed by a Sector 46 resident against Supertech Limited. "The builder issued an advertisement in a national Hindi newspaper on January 16, 2016 to invite applications for a new project 'Officer Enclave', which offered high-rise independent floors on Sohna Road, even though the property did not exist," the statement said. "We are reviewing the entire matter accordingly. If needed, a criminal case would be filed under IPC for cheating the allottees under the RERA Act," Khandelwal said. The complainant had booked a flat on February 5, 2016 and deposited Rs 10,26,033 and another Rs ..
Base metals rise on firm global cues, spot demand
Base metal prices rose by up to Rs 5 per kg at the non-ferrous metals market today in tandem with a firm trend overseas amid increased demand from consuming industries. Traders said sentiment remained firm as a copper prices in London and Shanghai rose with investors lured to buy low after a trade war-fuelled sell-off last week. The United States on Friday slapped tariffs on USD 34 billion of goods from top metals consumer China, which responded in kind. Fears that the spat could dampen demand for industrial metals weighed on the copper prices. Globally, copper for delivery in three-months rose by 0.5 per cent to USD 6,423 a tonne, extending a 1.7-per cent gain from the previous session on the London Metal Exchange. Also, the most-traded September copper contract added 0.7 per cent to reach 49,890 yuan (USD 7,545.03) a tonne on the Shanghai Futures Exchange. Besides, pick up in demand from consuming industries at domestic spot market supported the uptrend. In the national capital, .
AGI Infra Ltd leads losers in 'B' group
N K Industries Ltd, Delta Magnets Ltd, Premier Polyfilm Ltd and TCPL Packaging Ltd are among the other losers in the BSE's 'B' group today, 10 July 2018.
Prakash Industries gains after strong Q1 results
Prakash Industries rose 2.01% to Rs 162.10 at 14:24 IST on BSE after net profit rose 183.9% to Rs 168.68 crore on 51.5% increase in net sales to Rs 985.42 crore in Q1 June 2018 over Q1 June 2017.
Volumes spurt at HSIL Ltd counter
HSIL Ltd notched up volume of 5.47 lakh shares by 14:14 IST on NSE, a 22.77 fold spurt over two-week average daily volume of 24012 shares