Page 3550 - Business Finance
SMEXASEAN comes to aid of entrepreneurs in Cambodia
SRAM & MRAM Resources Limited has launched SMEXASEAN.com, a market place product in association with FASMEC (Federation of Associations of SME's in Cambodia), to act as a fuel for the economy of Cambodia, which is currently ailing due to lack of proper initiatives to link the produce with the global market.This initiative of SRAM will be the first of its kind project which will bring in the entire ASEAN community under one umbrella and all heavyweights of the association will rub shoulders with the Small and the Medium Enterprises of the lesser known siblings in the community.Speaking on the function to launch the smexasean.com, Chairman and Founder of SRAM & MRAM Resources Limited, Dr. Sailesh Lachu Hiranandani spoke about his brainchild smexasean.com and reiterated the need for corporate sector and the government to initiate an object-oriented path to provide the SME sector the necessary impetus to run in step with the larger corporate giants."The need of the hour is to ...
Higher trade deficit widens India's 2017-18 CAD
India's current account deficit (CAD) FOR 2017-18 has widened on the back of a higher trade deficit, Reserve Bank of India's (RBI) data showed on Wednesday.
Realty players laud carpet area revision for MIG
Market players in the real estate sector welcomed the increase in carpet area limit of houses eligible for the Credit Linked Subsidy Scheme (CLSS) of the Pradhan Mantri Awas Yojana for the middle income group (MIG), which they say would bring a large number of houses under the scheme.
Kaycee Industries fixes record date for scheme of arrangement
Record date is 26 June 2018
Cognizant names Francisco D'Souza as Vice Chairman
IT firm Cognizant today said its board has appointed Francisco D'Souza as Vice Chairman in addition to his current role as chief executive officer. Cognizant's leadership team has been at the vanguard of the shifts in technology, and the company has invested significantly in digital over the past several years to achieve a differentiated market position, John Klein, Chairman of Cognizant board of directors, said. "As we look at the vast market opportunities to help our clients apply digital technologies such as artificial intelligence, IoT, cloud and blockchain at scale, we are confident that we have the market position and the executive team to further extend Cognizant's leadership," he added. Klein pointed out that since D'Souza assumed the CEO role, Cognizant has grown more than seven-fold to a Fortune 200 company with nearly USD 15 billion in revenues in 2017. "...I look forward to even greater successes from this team in the years ahead. As Cognizant turns 25 years old as a ...
ED chargesheets Karti in Aircel-Maxis deal case
The Enforcement Directorate (ED) on Wednesday filed a chargesheet against former Finance Minister P. Chidambaram's son Karti P. Chidambaram and two companies in a case related to money laundering in the Aircel-Maxis deal.
China Market ends lower as ZTE plunge
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Magenta Power, Exicom set up first solar EV charging station
Renewable energy solutions provider Magenta Power today said it has, along with Exicom, installed its first solar charging station for electric vehicles in Turbhe in Navi Mumbai. The grid-connected charging station will be powered by solar energy and will cater to four-wheelers, the company said in a statement issued here. "This is our first solar based EV charging station, which is also India's first such station," Magenta Power CEO Maxson Lewis said. He further said Magenta has aggressive plans in EV space and aims to set up 100 charging stations at various locations in Mumbai and is in discussions with various stakeholders to this end. ************ IHG launches new upscale brand, voco * IHG (InterContinental Hotels Group) today announced the launch of voco, a new upscale brand, under which the global hospitality group is expecting to open over 200 hotels over the next 10 years. The roll-out of voco will begin in IHG's Europe, Middle East, Asia and Africa (EMEAA) ...
Gold slips, silver advances for sixth day
Gold prices slipped marginally by Rs 10 to Rs 30,865 per 10 grams at the bullion market here today following lower demand from stockists and retailers amid bearish global cues. Silver prices surged for the sixth straight session by Rs 185 to Rs 40,580 per kg following sustained offtake by industrial units and coin makers. Standard gold (99.5 per cent purity) eased by Rs 10 to end at Rs 30,865 per 10 grams from Tuesday's closing level of Rs 30,875. Pure gold (99.9 per cent purity) also moved down by a similar margin to close at Rs 31,015 per 10 grams against Rs 31,025, earlier. However, silver (.999 fineness) climbed by Rs 185 to conclude at Rs 40,580 per kg compared to Rs 40,395, yesterday. Globally, gold edged lower pressured by a slightly stronger dollar but activity was muted ahead of a Federal Reserve policy announcement that could trigger a sharp move in prices. Investors expect the Fed to raise interest rates but want to know if it intends to tighten policy four times in 2018 or
Trump renews attack on OPEC ahead of group's production meeting
WASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday oil prices were too high and blamed OPEC, renewing his attack even as prices fell on Wednesday amid expectation that the group may relax its output cuts later this month.
Cabinet approves Rs 24,000 cr FDI in HDFC Bank
In another move to bolster the Indian banking system, the Union Cabinet on Wednesday approved a Rs 24,000 crore foreign direct investment (FDI) as additional share capital into private sector HDFC Bank, Finance Minister Piyush Goyal announced.
BSNL 4G services in select towns of Telangana, AP by Aug 2018
: Public sector telecom operator BSNL will roll out 4G services in select districts in Telangana and Andhra Pradesh before August this year and launch them in all districts of both states by year end, a senior official said here today. "4G services will be launched before August this year in a few districts of Telangana and Andhra Pradesh on a pilot basis and expanded to all districts in both states by December 2018," BSNL Telangana Telecom Circle Chief General Manager V Sundar told reporters here. However, the roll out of 4G services will be delayed in Hyderabad in view of the requirement of more number of 4G towers and the services will most likely be started in the city by March 2019, he said. As part of mobile network expansion plan for this fiscal, new 4G services will be deployed in select towns and cities of Telangana Telecom Circle, besides expansion of existing 3G and 2G networks at a cost of about Rs 123 crore, Sundar said. "A total of 409 (4G Towers) will be ..
India's first lithium-ion cell manufacturing plant to come up in Andhra
In line with the government's "Make in India" initiative, Munoth Industries, promoted by Chennai-based Munoth group, announced here on Wednesday the setting up of India's first lithium-ion cell manufacturing plant in Tirupati, Andhra Pradesh, for the mobile industry.
CCI dismisses complaint against Panchsheel Buildtech, Tata Capital Housing
Fair trade regulator CCI has dismissed a complaint alleging unfair business practices against Panchsheel Buildtech and Tata Capital Housing Finance with regard to sale of a flat in Greater Noida. Noting that "no case of contravention of either Section 3 or Section 4 of the (Competition) Act" is made out against the two entities, the CCI, through an order dated June 11, closed the matter. Section 3 and Section 4 pertain to anti-competitive agreements and abuse of dominant market position, respectively. The CCI order has come following a complaint filed by an individual, who had booked a flat in one of the residential projects of Panchsheel, in Greater Noida, Uttar Pradesh. The complainant had allegedly paid a part of the basic cost of the flat to Panchsheel and for another part he had got two loans sanctioned from Tata Capital Housing Finance. As per the complainant, an agreement entered into between the parties, stated that till the offer of possession is given by Panchsheel, the loan
Japan Nikkei gains for third day in row
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Trump accuses OPEC of raising oil prices
US President Donald Trump today accused the Organisation of Petroleum Exporting Countries of raising oil prices, in a fresh swipe at the cartel's agreement to cap production. "Oil prices are too high, OPEC is at it again. Not good!" he wrote on Twitter. Oil prices peaked in late May, hitting the USD 80 per barrel ceiling on the Brent futures contract and USD 72.24 on the West Texas Intermediate. Traders are holding their breath for the June 22 meeting of oil ministers from OPEC member states in Vienna. In April Saudi Energy Minister Khaled al-Faleh said the global market has the capacity to absorb higher oil prices -- a remark that drew a swift reaction Trump. "With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!" Trump tweeted on April 20. OPEC producers and non-OPEC countries struck a deal in 2016 to trim production by 1.8 million barrels per day to reduce a global glut of ...
JLR drives in Jaguar F-TYPE SVR at starting price of Rs 2.65 cr
Jaguar Land Rover India today announced market availability of its Jaguar F-TYPE SVR sports car with price starting at Rs 2.65 crore (ex-showroom India). The car, which is powered by a 5-litre supercharged V8 engine, can accelerate from 0-100 km/h in just 3.7 seconds and hit a top speed of 322 km/h, the company said in a statement. "The new F-TYPE SVR is the first Jaguar car to have been developed by the Special Vehicle Operations. Their ideas of precision engineering reflect brilliantly in each aspect of the car," JLR India President and Managing Director Rohit Suri said in a statement. The company said it has begun taking bookings for the sports car, which is its fastest production car ever. The Jaguar F-TYPE SVR is available in coupe and convertible form, it added.
Payments company Adyen evokes tech bubble as share price doubles on market debut
AMSTERDAM (Reuters) - Shares in Adyen, which handles the payments backend for Netflix, Facebook and eBay, doubled on Wednesday in a market debut reminiscent of the 1999 tech bubble.
Sun Pharma shares end 1% higher
Shares of Sun Pharmaceutical Industries today ended 1 per cent higher after the company received establishment inspection report (EIR) from the US health regulator for its Halol facility in Gujarat. The stock went up by 0.95 per cent to close at Rs 545.65 on BSE. During the day, it gained 3.74 per cent to Rs 560.75. On NSE, shares of the company rose 1 per cent to end at Rs 546.30. In terms of equity volume, 12.19 lakh shares of the company were traded on BSE and over 2 crore shares changed hands on NSE during the day. The company has received EIR from the United States Food and Drug Administration (USFDA) for the inspection conducted at the Halol facility during the period February 12-23, 2018, Sun Pharma said in a filing to BSE yesterday. "The agency concluded that the inspection is now closed and the issues contained in the warning letter issued in December 2015 have been addressed," it added. Sun Pharma MD Dilip Shanghvi said, "This is an important development for Sun Pharma. We ..
Board of ICICI Bank approves sale of upto 2% stake in ICICI Prudential Life Insurance Company
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