Page 434 - Business Finance
Self-inspect your vehicle with HDFC ERGO's new #DIYMotorClaims Service
HDFC ERGO General Insurance Company, India's third-largest non-life insurance provider in the private sector, announced the launch of the #DIYMotorClaims service, a part of the Company's 'Jaldi Claim' services. This new service will enable customers to file their motor claims virtually for minor damages to their cars/two-wheelers by simply sharing photographs of the damages using HDFC ERGO's Insurance Portfolio Organiser (IPO) Mobile App.In order to use the #DIYMotorClaims service, the customer must opt for the self-survey option on HDFC ERGO's IPO app on their mobile phone or the HDFC ERGO website (www.hdfcergo.com) while intimating a claim. The customer will then be required to provide photographs of the damages to the vehicle along with necessary documents, which will be assessed by HDFC ERGO's central team. On approval from the central team, the customer will be given the option to opt for instant cash whereby, the approved amount is instantly credited to the customer's bank ...
Titan Company expects 20% growth in FY20; opens Taneira outlet
: Tata group firm Titan Company Limited expects to grow at 20 per cent during the current fiscal, said a top executive of the firm here Monday. Titan Company managing director Bhaskar Bhat also said the company plans to open 14 outlets of 'Taneira', the group's premium sarees and ethnic wear category during FY20 taking the total to 18 by the end of the year. Taneira opened its first outlet here today. "We (Titan Company) grew at 22 per cent growth during last year. It was same for the nine months figures (ended December 31, 2018). We are targeting a 20 per cent growth for this year (FY 20) also," Bhat told reporters here. "Jewellery is the largest contributor of our business and 83 per cent of our turnover is from jewellery. If jewellery doesn't grow by 20 per cent then the company doesn't grow by 20 per cent," he said. The consolidated income of Titan Company for the same nine month period was Rs 14,769 crore against Rs 11.805 crore during the same period in FY 18- ...
Sensex, Nifty slide on negative global stocks
Key benchmark indices dropped sharply on selling pressure in index pivotals. The barometer index, the S&P BSE Sensex, lost 362.92 points or 0.93% at 38,600.34. The Nifty 50 index lost 114 points or 0.97% at 11,598.25. Global shares dropped as trade negotiations between the US and China appeared to be on the verge of collapse.
ABG Shipyard initiates liquidation process under IBC
Debt-ridden ABG Shipyard Monday announced commencement of the liquidation process under the Insolvency and Bankruptcy Code. "NCLT vide order dated April 25, 2019...ordered commencement of liquidation of ABG and appointed...Sundaresh Bhat as the liquidator of ABG," debt-ridden firm said in a BSE filing. ABG Shipyard is undergoing insolvency proceedings under the Insolvency and Bankruptcy Code (IBC, 2016) as per the NCLT orders. "An application for initiation of CIRP under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) filed by the financial creditor, ICICI Bank Limited, in the matter of ABG Shipyard Ltd was admitted by the National Company Law Tribunal, Ahmedabad Bench vide its order dated August 01, 2017 ordering commencement of CIRP," the filing said. Thereafter, the committee of creditors of ABG approved by requisite voting majority liquidation of ABG and on that basis, an application under Section 33 of IBC was filed with the NCLT, it said. ABG Shipyard owes about Rs ..
Google testing shopping links under YouTube videos
In a bid to ramp up its online shopping business to compete with Amazon, Google is testing shopping links under YouTube videos.
Gold rises on jewellers' buying, firm trend overseas
Gold prices Monday rose by Rs 75 to Rs 32,720 per 10 gram at the bullion market here due to fresh buying from jewellers amid firm trend overseas, according to the All India Sarafa Association. Silver, however, declined Rs 70 to Rs 38,130 per kg due to reduced offtake by industrial units and coin makers. Traders said positive trend overseas and support from local jewellers led to a rise in precious metal. Besides, US President Donald Trump announcing to impose higher tariffs on Chinese goods boosted appeal for the bullion as safe-haven asset amid fresh fears of escalation of trade war between the countries, they added. Trump announced Sunday that the US would raise tariffs on USD 200 billion of Chinese imports from the current 10 per cent to 25 per cent this week, because trade talks are moving "too slowly". Globally, spot gold was trading higher at USD 1,282.60 an ounce, while silver was down at USD 14.91 an ounce in New York. On Saturday, the yellow metal had gained by Rs 175 to Rs ..
Hong Kong Market sinks after Trump vows China tariff hike
Sentiment quickly turned sour as Trump said over the week that the US would increase tariffs on US$200 billion of Chinese goods to 25 per cent from 10 per cent starting Friday, complaining the trade negotiation between Washington and Beijing was progressing too slowly. He also threatened to impose a new 25 per cent duty on the remaining US$325 billion of imports from the Asian nation. The two sides earlier agreed to a truce in December following a meeting between Trump and his Chinese counterpart Xi Jinping in Argentina.
China Market tanks on Trump renews tariff threat
US President Donald Trump dramatically increased pressure on China to reach a trade deal by announcing he will hike tariffs on $200 billion worth of Chinese goods this week and target hundreds of billions more soon. The announcement via Twitter marks a major shift in tone from Trump, who has cited good progress in the talks and praised his relationship with Chinese President Xi Jinping.
Domestic Creditors Recovered 195% Of Liquidation Value Of Companies Under IBC
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Markets swoon after Trump threatens to hike China tariffs
World markets swooned Monday after President Donald Trump threatened to increase tariffs on imports from China at a time when investors were expecting trade tensions to subside. The CAC 40 in France lost 2.2 per cent in early trading to 5,428.65 while Germany's DAX skidded 2.1 per cent to 12,150.16. London's markets were closed for a bank holiday. The future contract for the Dow Jones Industrial Average gave up 2 per cent to 25,981.00, while that for the S&P 500 lost 1.9 per cent, to 2,892.50. Markets opened sharply lower after Trump said via Twitter that he planned to raise tariffs on imports from China to 25 per cent from 10 per cent as of Friday. Complaining that trade talks with China were moving too slowly, he also said he would impose tariffs on USD 325 billion worth of products from China, accounting for all of its exports. Trump said "The Trade Deal with China continues, but too slowly, as they attempt to renegotiate. No!" The Shanghai Composite index closed 5.6 per cent ..
Japan Market shut on Monday for public holiday
Shares in the Asia Pacific region traded lower on Monday, 6 May 2019, as trade negotiations between China and the United States deteriorated suddenly, reversing apparent progress made in recent months, after after U.S. President Donald Trump unexpectedly jacked up pressure on China to reach a trade deal in the midst of negotiations, saying he would hike U.S. tariffs on Chinese goods this week.
Australia Market falls after Trump renews tariff threat on China
The markets tumbled after Trump warned China not to take too hard a line on trade talks, tweeting that the US tariffs on China had helped the US economy and noting that they are scheduled to increase on Friday. President Trump this morning threatened to more than double tariffs on US$200bn in Chinese imports from 10% to 25%. This is ahead of scheduled talks between both nations this Wednesday and recent signs a trade deal was possible by Friday.
Morepen Labs hits the roof after stellar Q4 numbers
Morepen Laboratories hit an upper circuit limit of 20% at Rs 20.15 at 15:10 IST on BSE after net profit rose 124.3% to Rs 9.22 crore on 30.2% increase in net sales to Rs 206.07 crore in Q4 March 2019 over Q4 March 2018.
Quick Heal Tech Buybacks equity shares
Of FV Rs 10 each
Iran Air appoints new US-sanctioned CEO
Tehran has appointed a new CEO to head national airline Iran Air, state news reported, replacing its first female CEO with a US-blacklisted pilot. Touraj Dehghani Zanganeh, a former air force commander who features on a US treasury sanctions list, was named for the post at a Sunday cabinet meeting. He will replace Farzaneh Sharafbafi, the first Iranian woman to boast a PhD in aerospace, who led the airline for two years. Zanganeh was previously CEO of Meraj Air, which was also sanctioned by the US early last year. Individuals on the Specially Designated Nationals List are generally prohibited from having US bank accounts. Americans can also face civil or criminal penalties for engaging in business dealings with them, according to the US treasury. Iran Air had been planning to upgrade its ageing fleet after long-standing US sanctions were lifted following the 2015 nuclear deal between Tehran and world powers. But when US President Donald Trump pulled out of the accord early last year ..
Malaysia sends ex-Goldman banker to US over 1MDB charges
A former Goldman Sachs banker has been extradited from Malaysia to the United States to face charges linked to the multi-billion-dollar 1MDB scandal, a source and reports said Monday. Huge sums of public money were stolen from Malaysian state fund 1MDB and used to buy everything from yachts to artwork, in a scheme that allegedly involved former premier Najib Razak, and contributed to his government's election defeat. Goldman's role is under scrutiny as the Wall Street bank helped arrange USD 6.5 billion in bonds for 1MDB. Authorities in Malaysia accuse former employees and some of the bank's subsidiaries of stealing USD 2.7 billion during the process, and investigators believe cash was laundered through the US financial system. Malaysian Ng Chong Hwa, a former managing director at the bank, travelled to the US last week, a person with knowledge of the matter told AFP, speaking on condition of anonymity. Ng, more commonly known as Roger Ng, has been in custody in Malaysia since ...
Navkar Corporation Ltd leads losers in 'A' group
Reliance Capital Ltd, Titan Company Ltd, Strides Pharma Science Ltd and Dewan Housing Finance Corporation Ltd are among the other losers in the BSE's 'A' group today, 06 May 2019.
Qlik appoints Geoff Thomas to lead its APAC business
Data analytics and business intelligence platform Qlik on Monday announced the appointment of Geoff Thomas as the Senior Vice President to head its Asia-Pacific (APAC) business.
End-user spending on IT services in India to hit $15bn
End-user spending on IT services in India is set to hit $15 billion in 2019 -- an increase of 9.8 per cent from 2018, a new release by Gartner said on Monday.
Gold futures up on spot demand, trade war fears
Gold futures Monday rose by 0.45 per cent per 10 gram amid fresh fears of escalation of trade war between China and the US. Marketmen attributed the rise in gold futures to a tariff battle that has rattled world markets, boosting investment demand for the metal considered as a safe bet. In a series of tweets, US President Donald Trump Sunday threatened to raise tariffs on goods imported from China. Trump's comments came at a time when Chinese delegation is due to resume talks in Washington on Wednesday to resolve the tariff battle. Besides, pick up in demand in the domestic spot market also supported the upside in gold prices. At the Multi Commodity Exchange, gold for delivery in June rose by Rs 141, or 0.45 per cent, to Rs 31,588 per 10 gram in a business turnover of 10,888 lots. The metal for delivery in far-month August also traded higher by Rs 154, or 0.49 per cent, at Rs 31,750 per 10 gram in a turnover of 4,847 lots.