Page 3359 - Business Finance
CII's innovation summit to focus on Artificial Intelligence
The two-day India Innovation Summit by the Confederation of Indian Industry (CII), to be held here on July 12-13, will focus on the disruptive technology of Artificial Intelligence (AI), the industry body said on Wednesday.
Healthy demand in June accelerates growth of India's service sector: PMI
Healthy rise in new businesses accelerated the growth of India's service sector in June, a key economic data point showed on Wednesday.
Fiem Industries signs Technical Assistance Agreement Japanese firms
For manufacture of Bank Angle Sensor for motorcycles for Indian market
Britain's anti-fraud body closes investigation into rate rigging at Lloyds
LONDON (Reuters) - More than a dozen employees at Lloyds Banking Group will be spared criminal trial for their part in the alleged rigging of the Libor benchmark, after Britain's Serious Fraud Office (SFO) closed its investigation due to lack of evidence.
Ozone eyes Rs. 1000 Cr turnover by 2021; plans to diversify into fast growing security
Ozone Enterprise Group, an Everstone Capital PE equity funded leading player in the Architectural Hardware industry has announced an investment of over Rs. 100 Cr in the next 2 years on diversification into the fast growing Security and surveillance and IoT (Internet of things) industry, primarily on building manufacturing capability for CCTV cameras and other security and surveillance products in India, and promote the 'Make in India' initiative.With a diversified presence in Architectural Hardware, Safes & Vaults, Locks, Fire & Safety Doors and Urban Furniture, the brand is among the Top 3 players in Safes and Locks in the country. Riding on its aggressive growth and diversification plans, the Group is eyeing Rs. 1,000 Cr turnover by FY 2021 The company, which primarily is into B2B and B2B2C segments, is all set to multiply this growth by diversifying into B2C segment with these new business lines. With this diversification, the brand sees a lot of synergy with its existing .
Recapitalisation scheme for Regional Rural Banks extended
The Union Cabinet on Wednesday extended the recapitalisation scheme for "Regional Rural Banks" (RRBs) for the next three years.
Government farm spending buoys equity indices; Sensex rises 266 points
Expectations of a healthy rural demand on the back of government's enhanced farm sector support buoyed the key Indian equity indices on Wednesday.
Emerald Leisures announces change in company secretary
With effect from 30 June 2018
Yes Bank gets SEBI approval to commence Mutual Fund business
Powered by Capital Market - Live News
Brent crude firm on drop in U.S. inventories, Middle East tension
LONDON (Reuters) - Brent oil extended gains on Wednesday due to Middle East tensions and a drop in U.S. crude inventories for the second week in a row caused by an outage at a Canadian facility.
Thomas Cook India looks at over 25% growth this year
Travel major Thomas Cook (India) Ltd, which is focusing on smaller cities to expand its footprint, is looking at over 25 per cent growth in its overall leisure business this year, an official said on Wednesday.
Abu Dhabi sees 22.2% rise in hotel guests from Ind in Jan-May
Abu Dhabi has seen an increase of 22.2 per cent in the number of hotel guests from India in the first five months of this year at 1,66,700, compared to same period last year. China topped the number of hotel guests at 1,92,500, an increase of 19.9 per cent, while India came in second, according to data from the Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi). The UK followed, with 1,19,900 guests, amounting to a 12.7 per cent increase, the US with 82,300 guests and a 25.7 per cent increase, and Germany with 71,300 guests at a 20 per cent increase. The total number of hotel guests from around the world staying in Abu Dhabi increased by 4.9 per cent during January to May compared to the same period last year. Overall, 162 hotels, resorts and hotel apartments offering 31,236 rooms across the emirate welcomed 20,73,586 guests during January to May, it added. The data further said, occupancy rate has averaged 75 per cent during January to May, with a 1.4 per ...
Global Markets: Stock tread water on trade worries, yuan steadies
LONDON (Reuters) - World stocks treaded water on Wednesday amid growing anxiety ahead of Washington's end of week deadline to impose tariffs on Chinese imports, while the yuan steadied after China's central bank acted to calm investors.
India hikes crop prices as Modi woos farmers ahead of election
NEW DELHI (Reuters) - India on Wednesday raised the government-mandated price for summer-sown crops such as rice and cotton by the most since Prime Minister Narendra Modi came to power in 2014, as he looks to woo millions of poor farmers ahead of a general election next year.
CSC SPV, HDFC Bank sign MoU to support financial inclusion in rural areas
CSC SPV and HDFC Bank on Wednesday announced signing of an agreement to enable three lakh Village Level Entrepreneurs (VLEs) of the common services centers to operate as banking correspondents of HDFC Bank.The MoU signed between MD HDFC Bank, Aditya Puri and CEO, CSC SPV Dr. Dinesh Kumar Tyagi in the presence of Minister of Electronics & IT Ravi Shankar Prasad and Minister of State for Electronics & IT S.S. Ahluwalia, is expected to be a game changer as it would significantly contribute to Government's objectives of enabling Direct Benefit Transfer (DBT) of various schemes."Under the agreement, VLEs of CSC will work as Banking Correspondent of HDFC Bank and support the Government initiative to promote financial inclusion and make banking services more accessible in rural areas," said Ravi Shankar Prasad.Adding to this he said that women, senior citizens and persons with disability will especially get benefitted through this initiative as it would enable withdrawal of financial
Hospitals may face more pricing restrictions: Icra
Regulatory overhang on the hospitals sector is likely to persist, with further pricing restriction expected on products and services in the future, according to rating agency Icra. The hospitals sector has been under the regulatory scanner lately with the National Pharmaceutical Pricing Authority (NPPA) announcing price caps on stents last February and on knee implants last August. The resultant reduction in stent prices was as much as 84 per cent, while that for knee implants was as high as 69 per cent, Icra said in its report. Shubham Jain, vice-president, Icra, said the regulatory actions by the NPPA last year had adversely impacted the revenues and margins of the hospital players. "The regulatory overhang on the sector is likely to persist and vulnerability to any action by the central and state governments and the NPPA remains high," he added. The drug pricing authority has released at least three office memorandums (OM) this year, which indicate that substantial ...
Agri-linked stocks soar up to 13% on hike in MSP for paddy
Shares of companies related to agriculture sector surged up to 13 per cent today after the government hiked the minimum support price for paddy by a record Rs 200 per quintal. Kohinoor Foods soared 12.96 per cent, LT Foods 7.01 per cent and Chaman Lal Setia Exports 2.27 per cent on BSE. Fertiliser stocks also saw buying, where Coromandel International rose 3.33 per cent, Deepak Fertilisers & Petrochemicals Corporation 1.71 per cent, Rashtriya Chemicals and Fertilisers 0.92 per cent and Chambal Fertilisers & Chemicals 0.16 per cent. "After an insipid start, market gained momentum on account of better auto sales and government's announcement of increase in minimum support price (MSP). "Rural income and spending power will increase due to higher minimum price and progressing monsoon which may result in higher demand for consumption oriented stocks," said Vinod Nair, Head of Research, Geojit Financial Services. The government today hiked the minimum support price for paddy by a ..
Sensex marks highest close in nearly two weeks
(Reuters) - Indian shares ended at their highest in nearly two weeks on Wednesday, after the government's decision to raise the price at which it will buy new-season common rice variety from domestic farmers boosted sentiment.
Essar Oil UK posts Rs 1,037 cr net profit in FY18
Essar Oil UK, which owns and operates Britain's Stanlow Refinery, today reported a marginal 4 per cent decline in net profit in 2017-18 as two-and-a-half month refinery turnaround shutdown led to lower processing. Net profit in 2017-18 at USD 161 million (Rs 1,037 crore) was 4.2 per cent lower than USD 168 million in the previous year, company chief executive S Thangapandian said in a media conference call. The shutdown was taken to connect revamped units which raised the refinery's capacity to 75 million barrels from 68 million previously. On completion, this would deliver enhanced yields of high value products, reduce crude costs and drive revenue growth, he said. "We operated for only nine and half months of the year as compared to 12 months in the previous fiscal," he said, adding profits would have been around USD 275 million if the refinery was to have operated for full year. This is the third consecutive year when the company posted an EBITA in excess of USD 300 million. Also, .
Essar pledges proactive' investments in UK refinery
Indian conglomerate Essar's UK arm today announced robust financial results for this year, with revenues of USD 5.4 billion, 10.2 per cent up from the USD 4.9 billion reported in the last financial year. Essar Oil UK, which owns and operates the Stanlow Refinery in Britain, pledged proactive investments into the refinery as it built on a period of "turnaround". Stanlow has emerged as a top tier refinery in Europe, with 16 per cent market share in the UK and a growing presence in the retail and aviation sectors, said Essar Oil UK chairman Prashant Ruia. We will continue to make proactive investments in technology to build a sustainable business that remains competitive in the rapidly changing global energy market, he said. Stanlow refinery, at Ellesmere Port in north-west England, has been described as a "key national asset", producing over 16 per cent of the UK's road transport fuel demand. It has completed the execution of all project upgrades during the turnaround period and it is ..