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Page 3892 - Business Finance

Jaypee group founder Jaiprakash Gaur joins JAL board

Jaiprakash Gaur, the founder of crisis-hit Jaypee group, has joined the board of Jaiprakash Associates Ltd (JAL) as an additional director. In a regulatory filing, Jaypee group's flagship company JAL said the "board has co-opted Jaiprakash Gaur on the board of the company as an additional director with effect from May 19, 2018." 87-year-old Gaur holds a diploma in civil engineering from University of Roorkee (now IIT, Roorkee). He has vast experience of over 64 years in the fields of civil engineering, construction, cement, real estate, expressways, hospitality and power. Gaur is already a director in some companies of Jaypee group, the filing said. Debt-ridden JAL has sold bulk of its cement business to repay bank loans. Another group firm Jaypee Infratech has gone bankrupt. Last year, NCLT had admitted an application by IDBI Bank-led consortium, seeking resolution for Jaypee Infratech under the Insolvency and Bankruptcy Code. The tribunal had appointed Anuj Jain as Interim ...

Updated On : 21 May 2018 | 6:15 PM IST

Global Stocks: Stocks and dollar rise as U.S.-China trade war put 'on hold'

LONDON (Reuters) - Stocks and the dollar rose but gave up some gains on Monday after the U.S.-China trade war was declared "on hold", while in Europe Italy's borrowing costs climbed and the Milan bourse retreated as two anti-establishment parties got closer to power.

Updated On : 21 May 2018 | 6:05 PM IST

Nokia phone licensee HMD raises $100 million to drive growth push

HELSINKI (Reuters) - HMD Global, the Finnish company that owns the right to use the Nokia brand on phones, has raised $100 million of funding intended to boost growth, it said on Monday.

Updated On : 21 May 2018 | 6:05 PM IST

Blackstone to buy LaSalle Hotel for $3.7 billion

(Reuters) - Private equity firm Blackstone Group LP said on Monday it would buy U.S. hotel owner LaSalle Hotel Properties for $3.7 billion, topping a rival bid from Pebblebrook Hotel Trust in April for $3.5 billion.

Updated On : 21 May 2018 | 6:05 PM IST

Oil tilts into the red, but U.S./China trade truce caps losses

LONDON (Reuters) - Oil declined on Monday, surrendering early gains, although the prospect of an easing in trade tensions between the United States and China helped stem losses.

Updated On : 21 May 2018 | 6:05 PM IST

Sebi allows clearing corps at IFSC to invest in foreign sovereign securities

Markets regulator Sebi today allowed clearing corporations at international financial services centres (IFSCs) to invest their own funds in foreign sovereign securities with the highest credit quality. However, the investment in such securities would not exceed a limit of 10 per cent of the total investible resources, excluding funds lying in core settlement guarantee fund of the clearing corporation, the Securities and Exchange Board of India (Sebi) said in a circular. The decision has been taken following the review of investment instruments available for clearing corporations in IFSC and based on the feedback received from market participants. Currently, the clearing corporations are permitted to invest their own funds as well as funds lying in core settlement guarantee Fund in fixed deposits or central government securities and liquid schemes of debt mutual funds. Now, Sebi has "decided to permit the clearing corporations in IFSC to invest their own funds in AAA rated foreign ...

Updated On : 21 May 2018 | 6:05 PM IST

Hong Kong Stocks end stronger

Updated On : 21 May 2018 | 6:04 PM IST