Page 42 - Business Finance
US mulls rejoining UN tourism body to create more jobs
The US is exploring the possibility of rejoining the UN tourism body to create jobs for Americans and help promote tourist destinations in the country, the State Department said.
V-Mart Retail gains after opening two new stores
V-Mart Retail rose 1.10% to Rs 2257.70 at 12:48 IST on BSE after the company said it opened a new store in Bihar and another store in Madhya Pradesh.
Australia Market gains after RBA points to more cuts
The US market ended modestly higher on Monday, amid investor caution ahead of a highly anticipated Federal Reserve meeting, which is expected to give further hints about what would be the central bank's first rate cut in more than a decade. On Wall Street, the Dow closed up 0.1% at 26,112.53. The Fed raised rates nine times over the last three and a half years as the economy recovered and put millions of Americans back to work. But President Donald Trump's aggressive tariff policies have shaken confidence and some central bankers have begun to acknowledge a chill in the air.
Japan Nikkei falls ahead of Fed meeting
The US market ended modestly higher on Monday, amid investor caution ahead of a highly anticipated Federal Reserve meeting, which is expected to give further hints about what would be the central bank's first rate cut in more than a decade. On Wall Street, the Dow closed up 0.1% at 26,112.53. The Fed raised rates nine times over the last three and a half years as the economy recovered and put millions of Americans back to work. But President Donald Trump's aggressive tariff policies have shaken confidence and some central bankers have begun to acknowledge a chill in the air.
Nifty hovers above 11,700
Stocks were trading with modest gains in early afternoon trade. At 12:25 IST, the barometer index, the S&P BSE Sensex, was up 147.76 points or 0.38% at 39,108.55. The Nifty 50 index was up 37.55 points or 0.32% at 11,709.65. The Nifty hovered above the 11,700 mark. Metals stocks were mixed.
Investors continue to dump Jet Airways shares; further tank 15%
Jet Airways stock tumbled nearly 15 per cent Tuesday after State Bank of India-led consortium of lenders decided to send the grounded airline to the National Company Law Tribunal. The scrip fell for the 12th consecutive day and plunged 14.93 per cent to a multi-year low of Rs 58.10 on the BSE. At NSE, shares plummeted 14.98 per cent to a multi-year low of Rs 58.15. In 12 trading days, the scrip has plunged over 61 per cent. Harried bankers Monday decided against an outright sale of Jet Airways to the lone bidder, and instead voted to send it for bankruptcy to recover their Rs 8,000 crore dues. The once largest private sector airline, started over 25 years ago, stopped flying in April after it ran out of cash and the unpaid lessors took away most of its 100-odd operational aircraft. After a meeting of the 26 lenders on Monday, SBI in a statement said, "after due deliberations, the lenders have decided to seek resolution for Jet Airways under the bankruptcy code since only a ...
Thomas Wittek Appointed as R. STAHL India MD and Board Member
/ -- R. STAHL AG, leading manufacturers of premium quality flame and explosion proof products, has appointed Thomas Wittek as Managing Director and Board Member of R. STAHL Private Limited, India, effective 1st March, 2019. Thomas Wittek succeeds Joerg Fitzek, who will continue his association with R. STAHL India in the capacity of Regional Sales Director. In his new role, Thomas Wittek will be responsible for leading several strategic growth initiatives in India and the APAC region. He will directly report to Dr. Mathias Hallmann, CEO of R. STAHL AG. Thomas Wittek has held several leadership roles for more than 20 years and has a proven track record of establishing sustainable and profitable businesses. Before joining R. STAHL, he has worked with several privately owned companies and large multinational business conglomerates across Europe, Far-East Asia & the Indian subcontinent. His most recent role was with a major tier-2 automotive supplier in India as their CEO. Thomas ...
Mukand Engineers Ltd leads gainers in 'B' group
Cantabil Retail India Ltd, Igarashi Motors India Ltd, Prime Focus Ltd and Pitti Engineering Ltd are among the other gainers in the BSE's 'B' group today, 18 June 2019.
TCS deploys TCS BaNCS for KGI Bank, Taiwan
KGI Bank selected TCS BaNCS to help achieve both its short term goals and its strategic objectives. The successful implementation unified the Bank's corporate and consumer banking businesses, and is one of the fastest core banking deployments in Taiwan.
RateGain Acquires BCV to Help Hotel Chains Maximize Guest Lifetime Value
/ -- RateGain today announced the acquisition of BCV, the only hospitality focused social media provider with the capacity to monitor and engage the social universe 24 X 7. BCV, a RateGain company, will now offer a comprehensive Guest Experience Cloud platform with an arsenal of proprietary digital products designed to increase direct sales, provide unparalleled guest interactions, and mitigate negative experiences helping hotel chains maximize the guest lifetime value. This acquisition will further help RateGain unlock revenue across hotel chains, airlines, car rentals, OTAs, cruise lines, package providers, TMCs, and vacation rentals. (Logo: https://mma.prnewswire.com/media/923440/RateGain_Logo.jpg ) (Logo: https://mma.prnewswire.com/media/923438/BCV_Logo.jpg ) (Photo: https://mma.prnewswire.com/media/923439/BCV_Is_Now_a_RateGain_Company.jpg ) This comprehensive Guest Experience Cloud platform combines the power of BCV's social media listening, analytics, creative and engagement ...
India's public Cloud services revenue to grow 24% in 2019
Public Cloud services revenue in India is projected to a total $2.4 billion in 2019 -- an increase of 24.3 per cent from 2018, a new report by Gartner said on Tuesday.
InterGlobe Aviation advances after jet engine deal with CFM International
InterGlobe Aviation rose 1.13% to Rs 1658.90 at 11:23 IST on BSE after the company announced that it has ordered CFM International LEAP-1A engines to power 280 Airbus A320neo and A321neo aircraft.
Intellect Global Transaction Banking appoints Head of Trade Finance and Supply Chain
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Bharti AXA General premium income surges 29% to Rs 2,285 cr in FY19
Bharti AXA General Insurance on Tuesday said the company registered an increase of 29 per cent in its Gross Written Premium (GWP) to Rs 2,285 crore in the financial year 2018-19 from Rs 1,772 crore in 2017-18.
Government of India announces the sale of four dated securities for ₹ 17,000 crore
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Varun Beverages Ltd leads gainers in 'A' group
Navkar Corporation Ltd, Crompton Greaves Consumer Electrical Ltd, Shriram Transport Finance Company Ltd and SRF Ltd are among the other gainers in the BSE's 'A' group today, 18 June 2019.
Market breadth turns negative
Key benchmark indices hovered in positive zone in mid-morning trade. At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 136.84 points or 0.35% at 39,097.63. The Nifty 50 index was up 26.55 points or 0.23% at 11,698.70. IT stocks were trading higher.
US stops aid to 3 Central American nations over immigrants
The US has stopped providing new funds to the three Central American nations of El Salvador, Guatemala, and Honduras, also known as the Northern Triangle governments, accusing their failure in managing the immigration issue, the State Department said.
Indian exporters need to diversify product line for better international market exposure
Speaking at the 'Workshop for Defence Export Promotion' organised by FICCI, Mr Jaju said through the new license industry will be able to access international market and make the products more competitive. He further said that the production will also become better, both qualitatively and will also provide value for money for Indian customer. "We are working on launching the Open General Export License where the entire process of taking permission from government will also be further reduced."
Lenders to begin insolvency proceedings against Jet Airways
Insolvency proceedings against Jet Airways are likely to begin this week as a consortium of lenders led by the State Bank of India (SBI) failed to find a buyer for the beleaguered airline.The National Company Law Tribunal (NCLT) could hear insolvency petitions filed by the airline's operational creditors for recovery of dues on June 20, reports said.On Monday, the consortium of lenders decided to begin insolvency proceedings against Jet Airways as the SBI had received only a conditional bid, subject to lenders arranging for regulatory exemption on an open offer.Further, Etihad expected the banks to write off most of its loans to Jet. As the grounded airline's assets are inadequate, lenders are worried about a significant haircut. Besides Jet's shareholder Etihad, the Hinduja Group was among those interested in buying a stake in the airline but the talks did not lead anywhere.SBI said in a statement: "A meeting of lenders was held today to consider the way forward in respect of Jet ...