Page 3736 - Business Finance
UK review shows firms' excuses for failing to promote women
A government-backed review on gender balance in some of Britain's biggest companies revealed a list of excuses used to explain why they have failed to appoint more women to the boardroom. The government's business department released the list of excuses today as part of its efforts to promote diversity. The excuses include that women "don't fit in" and "don't want the hassle" of top jobs. Another suggested that "shareholders just aren't interested in the make-up of the board, so why should we be?" Business Minister Andrew Griffiths says it is "shocking that some businesses think these pitiful and patronising excuses are acceptable reasons to keep women from the top jobs." Companies and individuals weren't named. The number of all-male FTSE 350 boards fell from 152 in 2011 to 10 last year.
Serial entrepreneur Satyen Kothari launches Cube Wealth
Cube Wealth, India's first "one app, one minute" service that offers members wealth creation, automated savings, and expense management through an award-winning user-interface was launched in India on Thursday.Cube will appeal to progressive, professional Indians - entrepreneurs, technologists, creatives, media professionals, doctors and homemakers - with a first of its kind service that will simplify and automate the entire world of money management for its members.The Cube Wealth service is open for new members as of today for six days only until June 5.After this period, membership will be selective with existing members having the privilege of inviting a limited number of their friends and family."Every one of us at Cube believes in simplifying wealth creation and money management, and our app was created on this very premise. It's like having your personal, perfect money manager working for you around the clock. We have spent a lot of time understanding the Indian professional's .
Mentha oil futures extend fall, down 2.73 pc on muted demand
Mentha oil prices further went down by 2.73 per cent to Rs 1,259 per quintal in futures trade today, as speculators trimmed positions, driven by subdued demand from consuming industries at the spot market. Besides, ample stocks position on higher supplies from major producing belts of Chandausi in Uttar Pradesh, fuelled the downtrend. At the Multi Commodity Exchange, mentha oil for delivery in the current month declined by Rs 35.40, or 2.73 per cent, to Rs 1,259 per kg in a business turnover of 86 lots. Likewise, the oil for delivery in June traded lower by Rs 3.20, or 0.28 per cent, at Rs 1,111.30 per kg in 456 lots. Analysts said, offloading of positions by participants owing to slackened demand from consuming industries at the spot market against ample stocks position led to the decline in mentha oil prices in futures trade for the fourth day in a row.
Govt considering setting up 3MT sugar buffer stock: Paswan
The government is considering creating a three million tonne sugar buffer stock to help millers clear about Rs 22,000 crore dues to cane growers, Food Minister Ram Vilas Paswan said today. Sugar mills' financial health has worsened due to sharp fall in prices of the sweetener in the wake of a record production of 31.6 million tonne (MT) so far in the 2017-18 season (October-September). "We are still considering a proposal to create a buffer stock of 3 million tonne. We are taking views from other departments," Paswan told reporters. A draft cabinet note on the proposal has been moved for inter-ministerial consultation after NCP chief and former agriculture minister Sharad Pawar shot off a letter to Prime Minister Narendra Modi seeking urgent intervention to deal with huge sugar glut in the market. Besides setting up of the buffer stock, the food ministry in the draft cabinet note has proposed fixing minimum ex-mill sale price at around Rs 30 per kg, reintroducing the monthly release ..
Strike hits banking services in northeastern states
Banking operations continue to be badly affected in Tripura, Assam and other northeastern states for the second consecutive day on Thursday as most branches of major banks remained closed due to a nation-wide employees' strike.
CCI approves stake acquisition in UST Holdings by Temasek's subsidiary
Fair trade regulator CCI has given its nod to the proposed acquisition of stake in IT firm UST Holdings by Singapore-based investment company Temasek's subsidiary MacRitchie Investments. In a tweet, late last night, the Competition Commission of India (CCI) said it has approved "acquisition of 21.3 per cent stake in UST Holdings Ltd by MacRitchie Investments Pte Ltd." Deals beyond a certain threshold require clearance of the fair trade regulator. According to a notice submitted to CCI by MacRitchie Investments, the proposed transaction relates to acquisition of shares of UST by MacRitchie. "The proposed transaction relates to the market for IT-BPM services in India," the notice said. An indirect wholly owned subsidiary of Temasek Holdings, MacRitchie is an investment holding company. UST (along with its subsidiaries) specialises in providing information technology (IT) services, including software development and support services worldwide as well as in India.
Sadbhav Engineering declared successful bidder for road project
In State of Maharashtra
BGR Energy jumps after robust Q4 results
BGR Energy Systems rose 10.11% to Rs 107.30 at 15:08 IST on BSE after net profit surged 125.84% to Rs 32.95 crore on 7.68% increase in total income to Rs 1196.43 crore in Q4 March 2018 over Q4 March 2017.
Freight rates of select southern regions rise
Freight rates for nine-tonne pay load section in select southern destinations were enquired higher by Rs 1,000 at the local truck transport market in the national capital today following less position of trucks in the market amid busy cargo movements. Transporters said, pick-up in cargo movements and shortage of trucks in the market manly pushed up freight rates for some of the southern region centres. Delhi to Puducherry, Kochi and Thiruvananthapuram rates moved up by Rs 1,000 each to Rs 68,000, Rs 78,000 and Rs 82,000, respectively.
CG Power & Industrial Solutions Ltd leads losers in 'A' group
Bombay Dyeing & Manufacturing Company Ltd, Dilip Buildcon Ltd, CRISIL Ltd and Avanti Feeds Ltd are among the other losers in the BSE's 'A' group today, 31 May 2018.
UK authorities propose crackdown on high-cost lending
Britain's financial watchdog is proposing a crackdown on high-cost lending, suggesting fundamental reforms to the way banks operate and charge for overdrafts among other changes meant to help vulnerable consumers. The Financial Conduct Authority conducted a wide-ranging review on high-cost credit and proposed reforms today. The authority's chief executive Andrew Bailey said that "the proposals will benefit overdraft and high-cost credit users, rebalancing in the favour of the customer." The body is also proposing reforms on rent-to-own operators, door-step lending and catalog credit and store cards, saying that high-cost credit is used by more than 3 million consumers in the UK. The FCA says it will gather more evidence and analysis before any formal decisions are made.
Nickel prices rise on stockists' buying
Nickel prices advanced by Rs 5 per kg at the non-ferrous metal market today on heavy buying by stockists following pick-up in demand from consuming industries. Traders said, fresh stockists buying in view of pick-up in demand from alloy-makers at domestic spot market mainly led to rise in nickel prices. In the national capital, nickel plate (4x4) rose by Rs 5 to Rs 875-880 per kg. Following are today's metal rates (in Rs per kg): Zinc ingot Rs 140-146, nickel plate (4x4) Rs 875-880, gun metal scrap Rs 227, bell metal scrap Rs 229, copper mixed scrap Rs 438, chadri deshi Rs 295. Lead ingot Rs 141, lead imported Rs 148, aluminium ingots Rs 168, aluminium sheet cutting Rs 164, aluminium wire scrap Rs 164 and aluminium utensils scrap Rs 162.
PVR mulls over acquisitions; plans to raise funds via NCDs
Multiplex operator PVR is evaluating acquisition opportunities of cinema exhibition chains and plans to raise funds to carry out the transaction through issuance of non convertible debentures (NCDs) PVR, which acquired DT Cinemas in 2016, has sought shareholders' nod for raising up to Rs 1,000 crore through issuance of NCDs. "For organic growth, the company is adequately funded and intends to finance bulk of its growth from internal accruals and debts. "However, in addition to organic growth, the company is evaluating opportunities for acquisition of various other national/regional level exhibition chains for which the company may need to raise funds for the same as well as refinancing of the existing debts," PVR said in a BSE filing. In a postal ballot notice to shareholders, PVR sought shareholders' approval for authorising the board to raise up to R 1,000 crore via NCDs from domestic as well as overseas market. In 2016, PVR had acquired 32 screens of DT cinemas from realty major ...
Singapore, Malaysia working to retrieve 1MDB funds, trace witnesses
KUALA LUMPUR/SINGAPORE (Reuters) - A Malaysian task force investigating a multi-billion-dollar scandal at state fund 1MDB is working with counterparts in neighbouring Singapore to retrieve funds believed to have been misappropriated, it said on Thursday.
Bearish bets piling up on most Asian currencies as risk sentiment sours: Reuters poll
(Reuters) - Investors increased bearish bets on most Asian currencies in the past two weeks, with short positions on the Philippine peso at the highest since 2008, as rising oil prices and turmoil in Italy dampened appetite for riskier assets, a Reuters poll showed.
Weak market breadth
Key equity benchmarks held firm in mid-afternoon trade on sustained buying demand in index pivotals. At 14:20 IST, the barometer index, the S&P BSE Sensex, was up 157.33 points or 0.45% at 35,063.44. The Nifty 50 index was up 46.45 points or 0.44% at 10,660.80. Most capital goods stocks edged lower. Realty stocks declined. Positive global stocks boosted sentiment.
Oman's Oil & Gas industry supplier certification system woos Indian companies
businessgateways, Oman presented the Joint Supplier Registration System (JSRS) exclusively to Indian companies that were interested in expanding their business into Oman's Oil & Gas procurement and projects.Riding on the robust Indo-Oman bilateral trade relationship, businessgateways, Oman in association with the Indo Arab Chamber of Commerce and Industry (IACCI) conducted its first in the series of 'JSRS Seminars' planned across the metropolitan cities of India.The objective of the seminar was to create awareness on Oman's huge business potential and invite Indian companies to join hundreds of JSRS Certified Indian suppliers on the JSRS.The seminar showcased the JSRS as well as presented information on huge procurement opportunities for Indian companies to identify new potential and participate through the national procurement system with many thousands of suppliers across 90+ countries.What is JSRS?The 'Single Window' Joint Supplier Registration System (JSRS) is Oman's national .
Atlanta Ltd leads losers in 'B' group
LEEL Electricals Ltd, Archidply Industries Ltd, Fineotex Chemical Ltd and Vikas Ecotech Ltd are among the other losers in the BSE's 'B' group today, 31 May 2018.
Volumes spurt at BGR Energy Systems Ltd counter
BGR Energy Systems Ltd registered volume of 18.84 lakh shares by 14:19 IST on NSE, a 32.23 fold spurt over two-week average daily volume of 58462 shares
Wheat prices slip on higher supply
Wheat prices fell by Rs 15 per quintal at the wholesale grains market today on sufficient stocks position due to pick-up in arrivals from growing regions against reduced offtake by flour mills. However, other grains held steady in thin trade. Traders said ample stocks position on increased supplies from producing belts against reduced offtake by flour mills led to decline in wheat prices. In the national capital, wheat dara (for mills) declined by Rs 15 to Rs 1755-1760 per quintal. Atta chakki delivery followed suit and traded lower by a similar margin to Rs 1760-1765 per 90 kg. Following are today's quotations (in Rs per quintal): Wheat MP (desi) Rs 2,100-2,200, Wheat dara (for mills) Rs 1,755-1,760 Chakki atta (delivery) Rs 1,760-1,765, Atta Rajdhani (10 kg) Rs 230-260, Shakti Bhog (10 kg) Rs 255-290, Roller flour mill Rs 940-950 (50 kg), Maida Rs 960-970 (50 kg)and Sooji Rs 1,040-1,050 (50 kg). Basmati rice (Lal Quila) Rs 10,700, Shri Lal Mahal Rs 11,300, Super Basmati Rice Rs ...