Page 3569 - Business Finance
GM has no projects underway with Lyft, CEO Barra says
DETROIT (Reuters) - General Motors Co Chief Executive Officer Mary Barra said on Tuesday the No. 1 U.S. automaker currently has no projects underway with ride-sharing company Lyft, in which it has a 9 percent stake.
Board of Twin Roses Trades & Agencies approves change in directorate
With effect from 11 June 2018
Board of Veritas (India) approves change in directorate
At meeting held on 12 June 2018
Wall Street opens higher as bank stocks rise
(Reuters) - U.S. stocks opened slightly higher on Tuesday, with bank stocks gaining as the Federal Reserve kicked off its two-day policy meeting, while a historic U.S.-North Korea summit failed to impress investors.
China eases restrictions for foreign institutional investors
BEIJING (Reuters) - China on Tuesday adjusted rules to make it easier for qualified foreign investors in Chinese stocks and bonds to move money out of the country, in Beijing's latest step to open up its capital markets.
Spend more at home, OECD tells Germany as investor mood darkens
BERLIN (Reuters) - The mood among German investors is at its darkest in years with a tariff attack on the county's exports largely to blame, a survey showed, as one global economic body said the solution lay in spending more at home.
Fears grow over Pakistan's economic woes ahead of elections
Fears mounted over Pakistan's economic stability before elections this summer as the caretaker government pledged today to stem the current account deficit by using rapidly dwindling foreign currency reserves. There is growing speculation that the country will have to seek a loan package from the International Monetary Fund following the elections, for the second time since 2013, amid fears of a balance of payments crisis. "We have to finance this gap of the trade deficit of $25 billion by depleting our reserves. There is no other option," caretaker Finance Minister Shamshad Akhtar told a press conference. "This is a major worry which our government is facing." The announcement came hours after the central bank devalued the rupee by 3.7 per cent, the third devaluation since December. A caretaker government was installed last week as the country prepares to head to the polls in late July, in what would be only the second democratic transfer of power in Pakistan's 70-year history. The ..
Gensol eyes 100-MW solar rooftop capacity by Mar'19
Solar advisory firm Gensol group is planning to expand its solar rooftop portfolio to around 100 MW by March 2019, mainly through brownfield expansion, a top company official said. The company currently has two verticals in the rooftop business - EPC, where it only does the construction part of a project, and Resco, where it owns the assets. "Our Resco business is very young, as we started it about four to five months back. Currently we have an installed capacity of 10 MW and a pipeline of 20 MW. We are hoping to take this to 100 MW by March next year," Gensol group founder and director Anmol Jaggi told PTI here. He said the company is planning to buy rooftop solar assets across the country to increase its portfolio. "There are a number of projects from 2 MW to 5 MW which are at good locations but not making good returns. We are looking at such assets to create a good IPP (independent power producer) portfolio," Jaggi said. The company plans to be in the top three solar ..
Bengal & Assam Company update on scheme of arrangement
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OPEC cautious on oil outlook despite end of global glut
LONDON (Reuters) - OPEC said the oil market outlook in the second half of 2018 is highly uncertain even though the producer group's figures show a global glut has ended, suggesting talks next week on relaxing a supply cut deal won't be straightforward.
India's retail inflation in May inches up to 4.87%
The combined push of food and fuel prices continued to drive up retail inflation in India in May towards the 5 per cent-mark, official data showed on Tuesday.
Retail inflation hits 4-mth high of 4.87% in May on costlier veggies, fuel
Retail inflation jumped to 4-month high of 4.87 per cent in May on costlier food items such as fruits, vegetables and cereals coupled with high fuel rates. Based on Consumer Price Index (CPI), the retail inflation was at 4.58 per cent in the preceding month, April. In May 2017, however, it was at a low of 2.18 per cent. The previous high in retail inflation was in January this year at 5.7 per cent. The overall consumer food price index shot up to 3.10 per cent in May, from 2.80 per cent in April, as per the Central Statistics Office (CSO). Fruit prices grew at a faster pace of 12.33 per cent in May as against 9.65 per cent in April, while vegetables were costlier by 8.04 per cent (from 7.29 per cent month ago). Cereals and products saw 2.78 per cent inflation in May as against 2.56 per cent in April, while oil and fats turned dearer at 2.46 per cent from 2.11 per cent in April. For the fuel and light category, the inflation last month stood at 5.8 per cent, up from 5.24 per ...
Sebi panel to mull ways to make listing attractive for startups
To make stock market listing attractive for startups, regulator Sebi has set up a panel that will look at ways to ease such listings as the existing institutional trading platform framework failed to gain "any traction". The group will review the present Institutional Trading Platform (ITP) framework in the current context as well as identify areas, if any, which require further changes. Besides, any other issue relevant to the framework might also be assessed, Sebi said in a release today. "The group shall endeavour to submit the report to Sebi within a period of one month," it added. In 2015, the ITP framework was put in place in with a view to facilitate listing of new age companies in sectors like e-commerce, data analytics, bio-technology and other startups. As this "framework failed to gain any traction", Securities and Exchange Board of India (Sebi) said the group has been formed after discussions with various stakeholders. Members of the group include representatives from the .
GST refund drive extended till June 16
The government on Tuesday extended the special fortnight-long drive to process pending GST refunds by two more days till June 16.
City hotel co to raise Rs 30 crore in IPO to fund expansion
Kolkata-based Dream Gateway Hotels, part of realty Jain Group, will raise Rs 30.51 crore through its maiden public offer by early July to fund expansion, a top company official said today. The company currently owns only one hotel, Holiday Inn Airport Kolkata, and the entire proposed proceeds will be invested in the existing 137 room property for further expansion following excellent response since unveiling of this property, Dream Gateway Hotels director Shrayans Jain said here. The company is going ahead with the proposed fixed price IPO issue despite pricing expectations were much lower at Rs 90 per share against previous expectations of Rs 140 per share. "We have arrived at the pricing of Rs 90 per share based on the feedbacks by the Merchant bankers. That (Rs 140/share) price was based on aspiration at that point of time," Jain Group ED Rishi Jain said. The shares would be listed on the BSE SME platform issuing fresh 32.21 lakh shares of Rs 10 each to investors and
GM currently has 'no projects underway with Lyft' - CEO Barra
DETROIT (Reuters) - General Motors Co Chief Executive Mary Barra said on Tuesday that the No. 1 U.S. automaker currently has no projects underway with ride-sharing company Lyft, in which it has a 9 percent stake.
Exclusive: Saudi Aramco eyes partnerships as it expands refining, petrochems
DHAHRAN, Saudi Arabia (Reuters) - Saudi Aramco plans to boost investments in refining and petrochemicals to secure new markets for its crude, and sees growth in chemicals as central to its downstream strategy to lessen the risk of a slowdown in oil demand. Aramco, the world's biggest oil producer, is expanding its footprint globally by signing downstream deals and boosting the capacity of its plants, ahead of an initial public offering next year - the largest IPO in history.
Bank recapitalisation, NPA resolution showing results: Government
The government on Tuesday said the recapitalisation of banks and resolution of non-performing assets (NPA) had started showing results which was reflected in the double-digit growth in bank credit in April.
Report describes Dubai real estate as money-laundering haven
War profiteers, terror financiers and drug traffickers sanctioned by the US in recent years have used Dubai's real-estate market as a haven for their assets, a new report released today alleges. The report by the Washington-based Center for Advanced Defense Studies, relying on leaked property data from the city-state, offers evidence to support the long-whispered rumours about Dubai's real-estate boom. It identifies some USD 100 million in suspicious purchases of apartments and villas across the city of skyscrapers in the United Arab Emirates, where foreign ownership fuels construction that now outpaces local demand. The government-run Dubai Media Office said it could not comment on the report. For its part, the centre known by the acronym C4ADS said Dubai has a "high-end luxury real estate market and lax regulatory environment prizing secrecy and anonymity above all else." That comes as the US already warns that Dubai's economic free zones and trade in gold and diamonds poses a ...