Page 54 - Business Finance
IT industry, startups meet Thakur to discuss data protection, tax issues
Ahead of the Budget, representatives of tech sector and industry bodies like Nasscom, IAMAI and MAIT met Minister of State for Finance Anurag Thakur Saturday to discuss various issues, including tax structure, and share their views on strengthening digital economy. The pre-Budget consultation meeting also focussed on data issues such as use of Big Data technology in improving the forecasting of economic, financial, climatic etc phenomena by analysing large data sets, for providing a fillip to the SME sector and for public governance, as per an official statement. Other issues, which dominated the discussion, included digital infrastructure and role of government, regulation of digital economy especially in privacy, consumer protection and financial regulation and software as service among others, the statement said. The meeting was also attended by officials from the Finance Ministry, Electronics & IT Ministry, Department of Telecommunications, CBDT and others. "The ...
Reliance Infrastructure reports consolidated net loss of Rs 3301.00 crore in the March 2019 quarter
Sales rise 30.48% to Rs 4012.65 crore
ThyssenKrupp appoints Premal Desai as CEO to head steel business restructuring
German multinational conglomerate ThyssenKrupp AG has appointed Premal Desai as the new Chief Executive Officer for its steel division to oversee the restructuring of business after the collapse of a proposed joint venture with Tata Steel in Europe.Desai has been Chief Financial Officer of ThyssenKrupp Steel Europe AG since 2015 and was previously Head of Strategy at ThyssenKrupp AG.Guido Kerkhoff, CEO of ThyssenKrupp AG, said: "We are pleased that we have appointed a new steel board member from our own ranks. Our steel business is facing major challenges. We have now put together a strong team that will tackle the tasks at hand quickly and develop a sustainable strategy for steel following the cancellation of the joint venture."Andreas Goss will resign from his position as Chief Executive Officer by mutual agreement as of Saturday. Heribert Fischer will also leave the Steel Board but remain with ThyssenKrupp Steel Europe AG in an advisory capacity at the request of the ...
Coromadel get GPCB permission to open its Sarigam facility for 3 months
Fertiliser manufacturer Coromandel International said Saturday that Gujarat State Pollution Control Board (GPCB) has allowed the company to open its facility at Sarigam in Gujarat for three months. The Sarigam facility was closed due to a fire incident at a product godown in the unit in January this year. After the incident, the GPCB had issued a closure notice for the facility. "This has reference to our earlier letters dated January 29, 2019, and January 30, 2019, informing you about a fire accident that took place at the product godown in one of our manufacturing units at Sarigam, Gujarat, and the closure notice issued by GPCB consequent to the said incident," a company statement said. It said, "We have received letter from GPCB dated June 14, 2019, revoking its earlier closure notice. The revocation is for a period of three months, and the company would be submitting the action taken report as required by the GPCB within the stipulated three months period to obtain permanent ...
ASUS eyes 50% share in gaming laptop market in India
In the era of smartphone gaming where the PC market is declining, Taiwanese electronics major ASUS is aiming for 50 per cent market share in the gaming laptops segment in India while increasing its retail presence from 100 to 200 stores by the end of this year, a top company executive has said.
Biocon allots 60 crore equity shares under bonus issue
Further, credit of bonus shares/ dispatch of physical share certificates shall be completed on or before 21 June 2019.
PSP Projects' MD and CEO wins 'CXO of the Year' award
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No levy rationalisation for telcos likely in Budget
The Union Budget is unlikely to propose any reduction in levies for telcos or allow them more time to clear their spectrum dues to the government, sources privy to the development said.
Gift a Bajaj Finance Fixed Deposit to your father on Father's Day
With Father's Day around the corner, which is to be celebrated on June 16, it's the best time for you to honour the person who has worked tirelessly to secure your dreams and aspirations. Father's Day is no more about gifting trinkets and mementos, but expressing your love and concern for your father by invest in a Bajaj Finance Fixed Deposit for him.As an outstanding investment that has garnered the trust of more than 1.45 customers, here's what makes a Bajaj Finance Fixed Deposit an ideal gift for your father:Bajaj Finance's FD is a top choice for senior citizensWith close to 61,000 senior citizens FDs and a book size of over Rs 3,300 crore, Bajaj Finance meets the financial needs of a large number of retired investors. Here, you get interest rates as high as 8.95 per cent for FDs taken for at least a 3-year tenor with payouts at maturity. Further, you get a 0.10 per cent interest rate boost on FD renewals.Investors enjoy the highest level of credit ratings hereBajaj Finance offers .
Moody's revises outlook on Adani Transmission to stable, affirms Baa3 rating
Moody's Investors Service has revised the outlook on Adani Transmission Limited's (ATL) rating to stable from negative.At the same time, Moody's has affirmed ATL's Baa3 senior secured bond ratings. Ahmedabad-based ATL is the largest private sector participant in India's power transmission market."The change in ATL's outlook to stable reflects expected improvement in the company's financial position over the next 12 to 18 months, underpinned by incremental earnings contributions from the Mumbai integrated utility business acquired last year and recently completed greenfield projects," said Spencer Ng, a Moody's Vice President and senior analyst."The change in outlook also considers the partial equity credit ascribed to subordinated loans from its promoter, after factoring in recent changes made to the terms of these instruments," adds Ng.Over the next 12 to 18 months, Moody's expects the company's consolidated funds from operations to net debt to improve to the mid 7 per cent range, ...
Industry has to be the government's partner in the journey of growth: Shri Nitin Gadkari
Government is very positive and has faith & trust in the industry. We are bringing improvements as per suggestions of industry and request for more recommendations. Government is investor friendly and wants to support industry for employment, growth and exports, said Shri Nitin Gadkari Honorable Minister for Road, Transport & Highways, Shipping and Micro, Small & Medium Enterprises. He was speaking at Confederation of Indian Industry's National Conference held in New Delhi. The present government is constantly striving to usher in more reforms. The industry has to be the government's partner in this journey of growth, he further added.
The budget and beyond (Column: Active Voice)
How does one determine the finances of a country where the growth rate is slowing, banks are sceptical to lend and tightening fiscal space leaves little scope for adventurism? That is the impossible conundrum facing Nirmala Sitharaman, Indias first woman Finance Minister in the Modi governments new Cabinet. It will be interesting to note how she addresses these pertinent issues facing the Indian economy when she rises up in Parliament on July 5 to deliver her Budget address.
US stocks end lower on tech sector weakness
US stocks suffered losses, pressured by the weakness in tech sector.
India, Krygyz Republic raise ties to strategic partnership
India and Kyrgyz Republic on Friday raised their bilateral relationship to level of a "strategic partnership" and signed a slew of agreements including on a bilateral investment treaty.
Government should frame tax-friendly SEZ policy: Nasscom
Recommending measures to be taken for the IT industry in the upcoming general budget, IT industry's apex body Nasscom said that the government should frame a tax-friendly policy for Special Economic Zones (SEZ) for a period of 20 years.
India's May merchandise exports up 4%, imports rise 4.31% (Roundup)
India's merchandise exports rose 3.93 per cent on a year-on-year basis in May to $29.99 billion from $28.86 billion reported for the corresponding month of last year, official data showed on Friday.
India's growth a big factor for stability, hope in world: Modi
Prime Minister Narendra Modi said on Friday that the world economy was transforming fast and growth of a big economy like India and its technological progress was a big factor for stability and hope in the world.
Prannoy, Radhika Roy barred from holding any key position in NDTV
Securities market regulator SEBI on Friday debarred NDTV's promoters Prannoy Roy and Radhika Roy from holding any key managerial positions in the Board or the management of the news channel company for being "involved in fraudulent acts".
Economists suggest IBC-type law for NBFCs, push for e-comm for jobs
Leading economists and experts on Friday suggested the Finance Ministry take measures for incentivising digital transactions, focusing on job-oriented growth, Insolvency & Bankruptcy Code (IBC)-type framework for NBFC sector, infusing capital in banks and tapping into e-commerce's potential for job growth to revive the economy.
SEBI bars NDTV promoters from security markets for 2 years
Security Exchange Board of India (SEBI) on Friday barred NDTV Ltd's three key promoters - Prannoy Roy, Radhika Roy and their holding firm RRPR Holdings Pvt Ltd from accessing the security markets for two years.It also restrained Prannoy and Radhika from holding any board or top management role at the company in this period."Noticee no. 1, 2 (Prannoy Roy) and 3 (Radhika Roy) are restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, or being associated with the securities market in any manner, whatsoever, for a period of two years. It is also clarified that during the said period of restraint/prohibition, the existing holding, including units of mutual funds, of the Noticees shall remain frozen," SEBI's whole time member S K Mohanty said."Noticee no. 2 and 3 are restrained from holding or occupying position as Director or any Key Managerial personnel in NDTV for a period of two years," .