Page 3547 - Business Finance
Tata Motors launches limited edition Tigor Buzz
Tata Motors on Wednesday announced the launch of its limited edition -- Tigor Buzz -- priced at Rs 5.68 lakh for the petrol version and Rs 6.57 lakh for the diesel variant (ex-showroom Delhi), inclusive of the accessory kit.
Exclusive: Etihad Airways in talks to cancel, defer Boeing 777X orders - sources
DUBAI/ABU DHABI (Reuters) - Etihad Airways is exploring options with Boeing to cancel or defer orders for 777X jets worth billions of dollars in a fresh sign of the carrier's financial strains and potentially squeezing Boeing's newest model, four sources familiar with the matter said.
GTF engines save fuel worth $75 mln for airlines: P&W
Pratt & Whitney (P&W) today said its Geared Turbofan (GTF) engine has helped airlines save more than 40 million gallons of fuel worth around USD 75 million since its launch in 2016. The engine powers a current fleet of 165 aircraft and 23 airline operators. As many as 35 aircraft of IndiGo and 16 of GoAir are powered by GTF engines in India. The company said in a statement said the outlook for 2018 remains bright as more GTF engines enter revenue service this year. "The GTF engine programme is continuing to attract new orders and is ramping up production deliveries, all while supporting a growing in-service fleet," the statement said. However, there have been instances of IndiGo and GoAir grounding many of their A320 neo aircraft due to issues with GTF engines. "Our airline customers tell us they're pleased the engine is meeting fuel burn expectations right out of the gate. We're excited about continuing to provide them with game-changing, advanced technology engines that ...
Mind the gap - Thyssenkrupp in value struggle with Tata Steel
FRANKFURT/DUESSELDORF (Reuters) - Germany's Thyssenkrupp and India's Tata Steel are struggling to get the planned merger of their European steel operations on track due to diverging values of their businesses, people familiar with the matter said.
IMF's Lagarde praises Argentina economic reform plan
IMF chief Christine Lagarde today applauded Argentina's economic reform plan proposed to secure USD 50 billion in financing, but made it clear it was designed in Buenos Aires, not imposed from Washington. The programme, which she said paid particular attention to protecting the poor and vulnerable, will go to the IMF Executive Board for final approval of the three-year loan deal on June 20. IMF staff reached an agreement with President Mauricio Macri's government last week on the standby financing arrangement which aims to bolster market confidence in the government's finances. But the announcement was greeted by vocal protests and threats of yet another labor strike. The country has a bitter history with the Washington-based lender, seen in Argentina as imposing tough conditions that worsened economic pain during a crisis 17 years ago. Lagarde and other IMF officials have stressed that their role is a supporting one, and the economic plan has flexibility to maintain social ...
High oil prices, trade deficit widen India's current account deficit (Roundup)
A rise in trade deficit due to higher crude oil prices widened India's current account deficit (CAD) for 2017-18, Reserve Bank of India's (RBI) data showed on Wednesday.
Italy, trade worries bite into German growth forecast
BERLIN (Reuters) - The DIW economic institute has slashed its growth forecast for Germany due to an unexpectedly weak start to 2018 and risks from abroad including concerns about Italy's new government and the escalating trade conflict with the United States.
Volkswagen CEO says still trying to overcome diesel cheating scandal
BERLIN (Reuters) - Volkswagen's new Chief Executive Herbert Diess said the carmaker was still trying to overcome its emissions cheating scandal after German authorities ordered the Wolfsburg-based company to pay a 1 billion euro ($1.18 billion)fine.
Nissan aims to strengthen dealership network in India
Automobile major Nissan Motor Co. on Wednesday said that it will strengthen its dealership network in India under an expansion strategy.
Cognizant makes CEO D'Souza Board Vice Chairman
US-based global software major Cognizant on Wednesday announced it had appointed CEO Francisco D'Souza as Vice Chairman of its Board.
Close to 65 lakh Jan Dhan accounts opened in Haryana
As many as 64,95,997 bank accounts have so far been opened in Haryana under the Pradhan Mantri Jan Dhan Yojana up to March 31, 2018, out of which 58,33,365 accounts have been linked with Aadhaar. Jan Dhan Yojana aims to open bank accounts of each economically backward family on zero balance with Accidental Insurance Cover of Rs one lakh, an official spokesman said here today. He said that as many as 28,56,587 people have been registered under the Pradhan Mantri Suraksha Bima Yojana in the state. Under the scheme, all the saving bank account holders of 18 to 70 years of age are being provided Accidental Death Risk Cover Insurance of Rs two lakh on annual premium of Rs 12 only. Apart from this, all the saving bank account holders of 18 to 50 years of age are being insured for Rs two lakh on annual premium of Rs 330 under the Pradhan Mantri Jeevan Jyoti Bima Yojana. 8,68,257 beneficiaries have so far been registered under the scheme, the spokesperson said.
Hong Kong branches of PNB, IOB under supervisory oversight as capital ratio slip below RBI norms
Hong Kong-based branches of Punjab National Bank and Indian Overseas Bank have been put under enhanced supervisory oversight and barred from proactively soliciting customer deposits by the Hong Kong Monetary Authority as the capital adequacy ratio of the two lenders fell below the regulatory requirements. At the end of March, 2018, total capital ratio as per the Basel- III norms declined to 9.20 per cent for PNB as against 11.66 per cent at the end of March 2017, according to a filing by PNB. On consolidated basis, it slipped to 9.82 per cent as against 11.98 per cent during the same period. Indian Overseas Bank's (IOB) capital ratio fell to 9.25 per cent by end-March 2018 against 10.50 per cent in the year ago period. As per the RBI's norms, the total capital adequacy, including counter-cyclical buffer should be upwards of 11.5 per cent. IOB and fraud-hit PNB in separate regulatory filings said in view of the capital position of the banks as on March 31, 2018, being below the ...
FY18 current account deficit widens as trade deficit rises
India's current account deficit (CAD) for 2017-18 widened on the back of a higher trade deficit, Reserve Bank of India's (RBI) data showed on Wednesday.
Global Markets: Stocks capped by trade war concerns, central banks
NEW YORK (Reuters) - Stocks across the globe wavered on Wednesday on fears of trade tensions and questions about U.S. interest rates, while lower-than-expected inventory data sent oil prices into the black after morning losses.
Wall Street edges higher as Fed decision looms
(Reuters) - U.S. stocks inched higher on Wednesday, as investors awaited a widely expected interest rate hike by the Federal Reserve and its guidance on the monetary policy.
Fox, media firms rise after AT&T-Time Warner approval
(Reuters) - Twenty First Century Fox Inc's shares rose 8 percent to a record-high on Wednesday as approval for AT&T's buyout of Time Warner Inc spurred speculation that Comcast Corp would proceed with an offer for most of the media company's assets.
IDBI case: BSE Chairman refuses to comment on holding office
BSE chairman S Ravi today refused to make a direct comment on his continuation in the post even after he was named by the CBI in its FIR in the Rs 600 crore IDBI Bank loan fraud case. "God is there," Ravi said in his short reaction when asked if he will continue as the chairman of the country's leading bourse. The CBI had also named former Aircel promoter C Sivasankaran and his companies in the loan fraud case. Ravi was in the city to take part in an interactive session on stock market with members of Merchants' Chamber of Commerce and Industry today. Sources said BSE has not received any feedback yet on the suggestions sought from market regulator SEBI on the issue. The bourse had appointed Ravi as the chairman of the the board in November 2017. This is the second case in which the CBI has also held responsibility of bad loan on independent directors. Earlier, the agency had registered a case against Anil Razdan and two independent directors in Era Infrastructure ...
Shell's eco-marathon challenge comes to India in December
Anglo-Dutch oil major Shell announced on Wednesday it is bringing their marquee event - Shell Eco Marathon (SEM) - to India for the first time.
'Hike in loan limit for affordable housing doubles stock in MIG category'
The Reserve Bank of Indias (RBI) decision to increase the housing loans limits and revise the value of the house available under the Pradhan Mantri Awas Yojana - Urban (PMAY-U) has doubled the inventory in the Middle-Income Group (MIG) category, a Magicbricks report said here.
Canara Bank to raise up to Rs 7,000 cr in FY19
State-owned Canara Bank today said it will raise up to Rs 7,000 crore through various means, including rights issue and qualified institutional placement (QIPs). "...the Board of the bank...has decided to raise equity share capital amounting up to Rs 7,000 crore (including premium) by way of QIP/rights issue/ESPS/ private placement/ preferential allotment/any other approved means during financial year 2018-19 subject to market conditions and necessary approvals," the bank said in a BSE filing. The bank's shares closed 0.09 per cent higher at Rs 280.20 apiece on the BSE today.