Page 3535 - Business Finance
Maldives bans foreign investments in event management, entertainment
The Maldives government on Thursday said that foreigners could no longer invest in event management, entertainment and production in the island country in order to boost local employment.
Alembic Pharma shares up over 3 pc on USFDA nod for antibiotic capsules
Shares of Alembic Pharmaceuticals today rose by over 3 per cent after the company received approval from the US health regulator for its Doxycycline Hyclate capsules used for the treatment of a wide variety of bacterial infections. The stock went up by 3.32 per cent to settle at Rs 506.55 on the BSE. During the day, it surged 8 per cent to Rs 529.90. On the NSE, shares of the company went up by 2.64 per cent to close at Rs 504.85. The approval from the United States Food and Drug Administration (USFDA) is for the company's abbreviated new drug application (ANDA) for Doxycycline Hyclate capsules USP, in the strengths of 50 mg and 100 mg, Alembic Pharmaceuticals said in a BSE filing.
Exclusive: Germany's HSH Nordbank says aims to buy shipping loans from other banks
LONDON (Reuters) - Germany's HSH Nordbank, once the world's biggest ship financier, aims to buy shipping loans from other banks and make new investments in the industry as it emerges from years of turmoil, a top bank official said.
Multi-product SEZ launched at Mahindra World City in Jaipur
State Industry Minister Rajpal Singh Shekhawat today launched the multi-product special economic zone (SEZ) in Mahindra World City, Rajasthan. "Rajasthan has been an exporter of investors but the situation has changed now and we are now importing investors by creating an eco-system for industries," Shekhawat said. The multi-product SEZ will create opportunities for diverse sectors like auto ancillaries, food processing, processed construction materials, medical devices, apparels, gems and jewellery. The government has taken several initiatives to push investment in the state and expressed hope that the new project will accelerate development and create job opportunities, he added. Mahindra World City, a joint venture by the Mahindra Lifespace Developers and Rajasthan State Industrial Development and Investment Corporation (RIICO), was established in 2006.
Board of Veritas (India) approves change in directorate
At meeting held on 12 June 2018
Manappuram Finance to issue of NCDs aggregating Rs 100 crore
On private placement basis
Vedanta mulls options for Indian iron ore workers after shutdown: sources
NEW DELHI (Reuters) - Vedanta Resources is considering options including lay-offs for some of the 2,000 employees of its iron ore business in southwest India that was shut down by a court, two sources said, as it struggles with a series of setbacks in the country.
Maruti discontinues diesel variants of Ignis
The country's largest carmaker Maruti Suzuki India (MSI) has stopped production of diesel version of its premium hatchback Ignis due to low demand. The company, which launched the model in January last year, has sold more than 72,000 units so far. The auto maker registered average monthly sales of over 4,500 units of Ignis during the January-May 2018 period. When contacted an MSI spokesperson told PTI: "Maruti Suzuki listens to customers' demand and accordingly makes efforts to meet their evolving aspirations. Therefore, it is business prudence to keep the number of variants in line with customers' requirements." Ignis is retailed through company's premium NEXA channel and helps MSI in expanding its range and presence, with an eye on the future, the spokesperson added. Ignis was the third model to be sold through Nexa dealerships. With the launch of the Ignis the company consciously tried to shed its image of a small car maker for a typical middle class Indian family. The model would .
Costly manufactured items, fuels push up India's May wholesale inflation (Roundup)
A major spurt in prices of manufactured items, food and fuels pushed India's wholesale price index (WPI) for May to 4.43 per cent, higher than the 3.18 per cent recorded in April, 2018, and 2.26 per cent registered in May last year, the Commerce Ministry's data showed on Thursday.
H&M main owner dismisses buyout rumours - Breakit.se
STOCKHOLM (Reuters) - There is no truth to recent speculation that H&M founders the Persson family are eyeing a buyout of the retailer, Swedish online news outlet Breakit.se on Thursday quoted main owner and chairman Stefan Persson as saying.
FPIs turn net buyers
Net inflow of Rs 175.76 crore on 13 June 2018
Sebi plans revised norms for recovery of investors' money
Sebi plans to put in place revised norms for recovering investors' money in cases of illegal collective investment schemes, wherein a registered insolvency professional will be appointed as administrator to undertake sale of assets. A senior official said the regulator is looking to revise the procedures to be followed after passing of orders in cases related to unregistered collective investment schemes. In case an entity is not traceable or is not complying with Sebi directions, the recovery officer can appoint an administrator for the purpose of selling the properties attached. According to the official, only an entity registered with the IBBI as insolvency resolution professional would be considered eligible for appointment as administrator. The Insolvency and Bankruptcy Board of India (IBBI) is implementing the Insolvency and Bankruptcy Code. Before appointment as administrator, such an entity should provide an undertaking with Sebi that it does not have any "conflict of interest
HDFC Bank: Capital infusion to aid semi-urban, rural play
A day after getting the government's nod to raise up to Rs 24,000 crore capital, private sector lender HDFC Bank today said it will use the funds to grow in semi-urban and rural pockets. "The additional capital will go a long way in supporting our growth plans over the next few years, especially in semi-urban and rural India," its deputy managing director Paresh Sukthankar said in a video message. He also welcomed the Union Cabinet's nod and added that the decision bodes will for the overall investment climate as well as foreign inflows into the country. In a statement, the bank said it had to get the go ahead from the Cabinet Committee on Economic Affairs (CCEA) as this was an FDI (foreign direct investment) proposal in excess of Rs 5,000 crore not under the automatic route. The bank has been given the nod provided the overall foreign ownership does not breach the 74 per cent mark. The Rs 24,000-crore capital infusion plan includes raising Rs 8,500 crore from parent HDFC
Oil steadies but spectre of higher supply curbs gains
LONDON (Reuters) - Oil prices mostly steadied on Thursday, but were likely to remain under pressure from evidence of rising U.S. output and uncertainty over the outlook for supply before a meeting next week of the world's largest exporters.
L'Oreal wins Valentino licence in pursuit of perfume leadership
PARIS (Reuters) - L'Oreal will produce fragrances and cosmetics for Italian fashion label Valentino, enhancing its perfumes business by winning a licence previously held by Spain's Puig.
Regulator concludes hearing in RInfra Mumbai power business sale
The Maharashtra Electricity Regulatory Commission (MERC) on Thursday concluded its hearing on the proposed stake sale of Reliance Infrastructure (RInfra)'s Mumbai power business to Adani Transmission, and the regulator's order is expected in the next few weeks, according to a RInfra statement.
Indian firms raise nearly Rs 1,900 cr in April 2018
Fund mobilisation by Indian firms through issuance of shares to institutional investors dropped by 64 per cent to nearly Rs 1,900 crore during April 2018, in comparison to the year-ago period. During April 2017, the firms had mopped up Rs 5,206.65 crore. As per the latest data available with the Securities and Exchange Board of India (Sebi), the capital garnered by the listed companies through the qualified institutional placement (QIP) route stood at Rs 1,862 crore in the first month of the financial year 2018-19. This is 64.24 per cent less than that raised in the corresponding month of the previous fiscal. Through the QIP route, during the financial year 2017-18, the firms had mobilised Rs 67,257 crore via 53 issues. The funds were mobilised for business expansion, refinancing of debt, working capital requirements and other general corporate purposes. QIP is an alternative mode of resource raising available for listed companies to raise funds from the domestic market. In terms of ..
Happy, JaldiCash associate to offer loans in real-time
Happy, an innovative financial service provider with a vision of providing much-needed banking services to underserved and financially excluded micro-enterprises has announced its partnership with leading remittance provider JaldiCash.The collaboration will help provide JaldiCash's network of agents in these markets with convenient access to Happy Loan's unique products. JaldiCash, a part of Rs. 65+ billion Weizmann group, has been instrumental in providing digital payment solutions to the under-served Tier 2 and Tier 3 markets.Happy has integrated its systems with JaldiCash's platform to get relevant comprehensive information. Using this data, Happy can run its cutting-edge AI and Machine Learning-driven analytics engine to receive an accurate understanding of the credit score to make loan offers for the agents in real-time.Through this partnership, Happy intends to reach out to JaldiCash's agent network of over 18,000 micro-enterprises in India, which will help facilitate the ...
Turnover on NSE's F&O segment surges
Nifty June futures at small discount
Unilever signals likely FTSE exit as Brazil strike hits sales
LONDON (Reuters) - Unilever is "extremely unlikely" to stay in Britain's FTSE 100 blue chip share index after the consumer products company moves its headquarters to the Netherlands.