Page 63 - Business Finance
Pompeo says India 'perfect partner', great place to figure out how to grow economies
India is a perfect partner and great place for the US to figure out how to grow the economies of the two countries and get win-win solutions, US Secretary of State Mike Pompeo has said as he pushed for the further liberalisation of the Indian economy. The Trump administration is trying to take down financial barriers and non-tariff barriers, and create open markets consistent with the central ideas that they hold here in the United States, he said. "But we remain open to dialogue and hope our Indian friends will drop their trade barriers and trust in the competitiveness of their exporters and private-sector companies," Pompeo said. The US will also push for the free flow of data across borders not just to help American companies but to protect data and ensure consumer privacy, he said. "I think that makes India a perfect partner and a great place for us to figure out how to grow our economies and get win-win solutions for both nations," Pompeo said in his keynote address to the ...
Yes Bank shares continue to fall; tank 13.5 pc
Yes Bank stock Thursday tumbled nearly 13.5 per cent amid concerns over the state of corporate governance at the lender. Shares of the bank plummeted 12.96 per cent to close at Rs 117.20 on the BSE. During the day, it tumbled 13.77 per cent to Rs 116.10 -- its multi-year low. At the NSE, shares dropped 13.46 per cent to close at Rs 116.60. The scrip was the worst hit among the front-line companies on both key indices during the trade. Shares of Yes Bank dropped over 3 per cent Wednesday also. In two days, its market valuation has fallen by Rs 5,093.24 crore to Rs 27,154.76 crore on the BSE. Moody's Investors Service has placed Yes Bank's ratings under review for a possible downgrade citing its high exposure to the struggling NBFC and realty sectors. "The ongoing liquidity pressures on finance companies will negatively impact the credit profile of Yes Bank, given its sizeable exposure to weaker companies in the sector," a Moody's note said Tuesday. Meanwhile, Rana Kapoor, the former ...
Nissan CEO admits differences with Renault over reforms
Nissan Motor's chief executive Hiroto Saikawa on Thursday said his company had differences of opinion with Renault over of the Japanese carmaker's corporate reform plans and the two sides were discussing the issue.
Doing business in India was "tough": Pompeo on his Bengaluru days
Ahead of his visit to India, US Secretary of State Mike Pompeo has revealed that he had a "tough" time as a businessman in Chennai and Bengaluru while trying to sell machine parts for the aerospace industry in the country. Pompeo said this during his address to a Washington audience that included Google's Indian-American CEO Sundar Pichai and top corporate executives from India and the US at the India Ideas Summit on Wednesday. Pompeo will travel to India, Sri Lanka, Japan and South Korea from June 24 to 30. Responding to a question, Pompeo said that as a businessman, before he ran for the Congress, he had spent some time in Chennai and Bangalore trying to sell products to the Hindustan Aeronautics Limited (HAL), India's leading public sector aerospace and defence company. "I didn't tell the story I did business in India when I before I lost my mind and ran for Congress, I ran a small business that made machine parts for the aerospace industry. "And I spent a fair amount of time in .
Hong Kong Stocks end lower
Vice Premier Liu He said at a financial forum in Shanghai on Thursday that Chinese regulators should step up support for the economy and keep ample liquidity in the financial system amid rising US trade pressure.
China Stocks end mixed
Vice Premier Liu He said at a financial forum in Shanghai on Thursday that Chinese regulators should step up support for the economy and keep ample liquidity in the financial system amid rising US trade pressure.
Tata Steel, ThyssenKrupp merger would have spiked steel prices: EU
The European Commission has said it was forced to block a proposed merger between Indian steel major Tata Steel and German giant ThyssenKrupp over concerns that it would have led to a spike in the metal's prices. The Commission, the executive arm of the 28-member European Union (EU), formally tabled its decision this week after ThyssenKrupp announced its decision to withdraw from the joint venture plans last month in anticipation of the EU ruling. "Without remedies addressing our serious competition concerns, the merger between Tata Steel and ThyssenKrupp would have resulted in higher prices. So we prohibited the merger to avoid serious harm to European industrial customers and consumers," said Commissioner Margrethe Vestager, in charge of competition policy at the European Commission. "Steel is a crucial input for many things we use in our everyday life, such as canned food and cars. Millions of people in Europe work in these sectors and companies depend on competitive steel prices ..
China's trade rep says 'external pressures' can help economy
Chinese media reported Thursday that the country's top trade negotiator said "external pressures" can help the country's economy. Vice Premier Liu He, speaking at a forum in Shanghai, described the pressures that China is currently facing as an "inevitable test," according to Hong Kong's South China Morning Post and mainland Chinese media outlets. "The external pressure will help us improve innovation and self-development, speed up reform and opening up, and push forward with high-quality growth," Liu said. He did not directly reference the U.S.-China trade dispute, according to the South China Morning Post. The U.S. has accused China of stealing trade secrets and forcing American companies to transfer technology. China says the U.S. is trying to stifle its economic development. Each country has imposed higher import duties on billions of dollars of goods from the other side. Last month, the US Commerce Department placed Huawei on a list that effectively bars US firms from selling ...
Gaming industry sees 12bn attacks in 17 months: Akamai
The gaming industry has become a rising target with 12 billion credential stuffing attacks in 17 months, Cloud delivery network provider Akamai Technologies said on Thursday.
Indiabulls Housing Finance shares zoom nearly 12 pc
Shares of Indiabulls Housing Finance rose nearly 12 per cent Thursday after a petition alleging misappropriation of funds was withdrawn from the Supreme Court. The company's scrip jumped 11.78 per cent to close at Rs 694.30 on the BSE. During the day, it climbed 12.64 per cent to Rs 699.70. At the NSE, shares zoomed 11.85 per cent to close at Rs 694.70. In terms of traded volume, 34.28 lakh shares were traded on the BSE and 4.85 crore shares on the NSE during the day. Indiabulls Housing Finance Ltd (IBHFL) shares dropped 8 per cent Tuesday following allegations of siphoning off Rs 98,000 crore of public money. The scrip declined nearly 8 per cent the following day also. In a big relief to IBHFL, the petitioner who had approached the Supreme Court alleging misappropriation of funds, withdrew the plea on Thursday, the company said. The petition now withdrawn alleged that IBHFL misappropriated Rs 98,000 crore of public money, a claim termed "frivolous and bizarre" by the company, which .
Has India influenced the IMF approach? Book by IAS officer seeks to answer
India would play a key role in the International Monetary Fund (IMF), further improving its policy tools to evolve with changes in the economic environment to support its global mandate and the member country's needs, says a book by senior IAS officer V Srinivas. The book, titled 'India's Relations with the International Monetary Fund 25 Years in Perspective 1991-2016', provides insights into India's role as a founding member of the IMF and the rise of China in the international monetary system among other major developments at the Fund. India's macroeconomic performance stands out over the past 25 years. After the 1991 crisis and stand-by arrangement program with the IMF, wherein significant structural reforms were witnessed, India experienced high growth surpassed only by China and East Asian countries, the book said. "India became the world's fastest growing major economy. India's rise from a debtor country to a creditor country at the IMF with significant increases in its voting .
Equitas Holdings consolidated net profit rises 96.99% in the March 2019 quarter
Sales rise 18.48% to Rs 575.35 crore
Jackson Investments reports standalone net loss of Rs 0.12 crore in the March 2019 quarter
Sales decline 32.14% to Rs 0.19 crore
MFS Intercorp reports standalone net loss of Rs 0.02 crore in the March 2019 quarter
Sales reported at Rs 0.55 crore
No capital need for SBI from government: Chairman
State Bank of India Chairman Rajnish Kumar on Thursday said the bank does not need any capital from the government.
Samsung struggles to make global strategy amid US-China trade war
Samsung Electronics Co. has been facing a double whammy of a weak memory chip and smartphone market, as well as uncertainties from a trade war between the US and China, so this is the right moment for its senior management to discuss ways to deal with the rising business challenges.
Equity indices end flat, Jet Airways down over 16 pc
Equity benchmark indices ended flat on Thursday amid tepid global cues as investors remained unclear over possible outcome of a trade deal between the United States and China.The market sentiment picked up during late hours but failed to wipe out morning losses. The BSE S & P Sensex closed 15 points lower at 39,741 while the Nifty 50 showed a gain of 8 points to settle at 11,914.At the National Stock Exchange (NSE), most sectoral indices were in the negative zone. Nifty bank, financial service, realty and media gained some ground.Shares of Jet Airways sunk 16.7 per cent to a record low at Rs 91.95 per share after NSE said the airline will soon no longer be traded in the derivatives market. In a bid to curb speculative trading, intraday trading in the stock will also be barred from June 28.Yes Bank shares dropped 13.47 per cent and IndusInd Bank's by 4.62 per cent after Swiss multinational brokerage house UBS slashed their price target by 47 per cent and 18 per cent respectively, ..
Nifty June 2019 futures at premium
Turnover in F&O segment jumps
Pillar Investment Co reports standalone net profit of Rs 0.19 crore in the March 2019 quarter
Sales reported at Rs 0.26 crore
Mcnally Sayaji Engineering reports standalone net loss of Rs 0.03 crore in the March 2019 quarter
Sales reported at Rs 0.06 crore