Page 656 - Business Finance
US trade gap falls 15 pc to USD51.1 bn in January
The US trade deficit tumbled nearly 15 per cent in January as imports fell and exports rose. Shipments of American goods to China skidded to the lowest level in more than eight years as the world's two biggest economies remained locked in a trade war. The Commerce Department said Wednesday that the gap between the goods and services that the United States sells and what it buys from other countries dropped by 14.6 per cent to USD 51.1 billion in January from USD 59.9 billion in December. Exports rose 0.9 per cent to $207.3 billion, and imports dropped 2.6 per cent to USD 258.5 billion. The deficit in the trade of goods with China narrowed by 6.4 per cent to USD 34.5 billion. U.S. goods exports to China dropped 22.3 per cent to USD7.1 billion, lowest since September 2010; Chinese imports dropped 9.6 per cent to USD 41.6 billion. The Trump administration has imposed taxes on USD 250 billion worth of Chinese imports, and the Chinese have retaliated by targeting about USD 110 billion in ..
Changes in APEDA Act, Essential Commodities Act required for farmers to get better crop prices: Kant
Changes are required in the APMC Act and the Essential Commodities Act to help farmers get better prices of their produce, Niti Aayog Chief Executive Officer Amitabh Kant said Wednesday. Amul succeeded because of professional management, it was able to do forward and backward linkages, it was able to bring in technology, it was able to do value addition, Kant said while delivering the 20th Vaikunth Bhai Mehta Memorial Lecture at the National Cooperative Union of India (NCUI) here. "And, that is what Indian agricultural cooperative movement requires -- better technology, better marketing, better seeds, better fertiliser and with that, I have no doubt in my mind that the returns to Indian farmers will not only double but triple. Challenge is to get professional management and better technology," he said. However, there are constraints to the Agricultural Produce Market Committee (APMC) Act and the Essential Commodities Act which curtail the movements of goods from one place to another, .
Godrej Agrovet hikes stake in Godrej Maxximilk
Godrej Maxximilk is engaged in in-vitro production of high-quality cows that aid dairy farmers produce top-quality milk, thereby increasing their yield by a significant proportion.
Purdue Pharma settles for $270 mn in US opioid lawsuit
Pharmaceutical company Purdue Pharma agreed to pay $270 million to the state of Oklahoma in one of the more than 1,600 lawsuits it faces for its alleged responsibility in aggravating the opioid crisis in the US.
PHDCCI suggests roadmap to achieve USD 700 bn exports by 2025
The PHD Chamber of Commerce and Industry (PHDCCI)Wednesday suggested a five-pronged strategy to increase India's annual merchandise exports to USD 700 billion (about Rs 48.3 lakh crore) by 2025. The strategy entails identifying prospective products to scale up export volumes, strengthening export growth momentum towards emerging and developing economies through greater access in Asian and African economies, and structural improvements in export and logistics infrastructure, the PHDCCI said in a statement. The roadmap also includes developing supply chains of micro, small & medium enterprises and enhancing the overall ease of doing exports. Earlier this month, the Commerce and Industry Minister Suresh Prabhu had said the country's goods shipments will touch USD 330 billion (about Rs 22.7 lakh crore) in the current financial year ending March 31.
Board of Inspirisys Solutions approves preferential allotment of 42.30 lakh shares to CAC Holding Corporation
Consequently. the issued, subscribed and paid-up equity share capital of the Company stands increased to Rs. 33,99,18,730 (divided into 3,39,91 ,873 equity shares of face value Rs.10 each) from Rs.29,76,18,730 (divided into 2,97.61 ,873 equity shares of face value Rs.10 each). Equity shares allotted on the preferential allotment basis shall rank pari passu with the existing equity shares of the Company in all respects.
Subex secures multi-year contract from VodafoneZiggo to deploy ROC Partner Settlement
VodafoneZiggo is a Netherlands based operator offering fixed, mobile and integrated communication and entertainment services to consumers and businesses. VodafoneZiggo is a joint venture of Liberty Global, the biggest international TV and broadband internet company, and Vodafone Group, one of the world's biggest telecommunication companies. Post the merger in 2017, VodafoneZiggo has begun an IT transformation and system consolidation project.
Vedanta makes oil discovery in Krishna-Godavari Basin block KG-OSN-2009/3
Multiple reservoir zones were encountered in the well H2 within the Mesozoic sequence between the depths of 3310m to 4026m with hydrocarbon indications during drilling and down hole logging. The zone from 3403m to 3431m was tested through conventional well testing (Drill Stem Test) and flowed oil to surface. Further appraisal will be required to establish the size and commerciality of the oil discovery in the Mesozoic sequence.
BF Investment appoints directors
With effect from 01 April 2019
Board of Marathon Nextgen Realty approves acquisition of MNTP and investment proposal up to Rs 150 cr
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Emerald Leisures allots 1.50 lakh preferential shares to promoter group
In view of the above the issue and allotment, the issued, subscribed and paid-up share capital of the Company has increased from Rs. 42,20,31,000/- comprising of 22,03,100 Equity Shares of face value of Rs. 10/- each and 40,00,000 Non-convertible, Non-cumulative, Redeemable Preference Shares of face value of Rs. 100/- each to Rs. 43,70,31,000/- comprising of 22,03,100 Equity Shares of face value of Rs. 10/- each and 41,50,000 Non-convertible, Non-cumulative, Redeemable Preference Shares of face value of Rs. 100/- each
Board of Beeyu Overseas approves change in registered office
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NACL Industries allots 1.09 crore equity shares and 2.50 crore warrants
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Board of Mahindra & Mahindra Financial Services approves acquisition of 1.18 crore shares of NRHFL from National Housing Bank
Consequently, the shareholding of the Company in MRHFL will increase from 88.75% to 98.43% as and when the shares are acquired.
Vedanta makes oil discovery in KG block
Mining baron Anil Agarwal-led Vedanta Ltd Wednesday announced an oil discovery in its Krishna Godavari basin block in the Bay of Bengal. The block previously had a gas discovery in the very first well drilled. In a statement, Vedanta said "it has notified the Directorate General of Hydrocarbons and Ministry of Petroleum and Natural Gas of an oil discovery in the second exploratory well H2, located in the block KG-OSN-2009/3, Krishna-Godavari Basin, East Coast of India". Vedanta holds 100 per cent participating interest in the block. "Multiple reservoir zones were encountered in the well H2 within the Mesozoic sequence between the depths of 3,310 metres to 4,026 metres with hydrocarbon indications during drilling and downhole logging," it said. The zone from 3,403 metres to 3,431 metres was tested through conventional well testing (Drill Stem Test) and flowed oil to the surface. "Further appraisal will be required to establish the size and commerciality of the oil discovery," Vedanta ..
Snapdeal an opportunity for unorganised sellers to go online: Company official
Snapdeal is making progress in taking Indian markets online to offer sellers a robust and future-ready opportunity to grow their business by expanding their operations, a senior company official said here on Wednesday. "In India, (just) 10 per cent of the retail is in the organised sector... In the past, unorganised retail was adversely impacted by organised retail... Snapdeal built a marketplace to provide these (unorganised) sellers with an opportunity to move online in order to grow," Snapdeal Senior Vice-President (Corporate Affairs and Communications) Rajnish Wahi said here. He said the country's overall consumption demand is worth USD 800 billion currently and is expected to reach USD 2 trillion by 2025. "Online commerce is nearly 2 per cent of India's retail and will reach 10 per cent by 2025. Thus, the online market in India will be worth USD 200 billion in the next 7 years." On the Punjab market, he told reporters that Punjab-based retailers are the highest sellers of sports .
Sensex, Nifty slide after volatile session
Key equity benchmarks ended with modest losses after a volatile session. Investors booked profits amid mixed cues from other Asian shares and negative cues from European market. The Nifty retracted after crossing 10,500 mark in morning trade.
Sensex ends 100 points down amid volatility
The key Indian equity indices settled in the red on Wednesday, with the BSE Sensex closing 100 points lower after a largely volatile trade session.
Rupee settles marginally lower at 68.88 vs US dollar
The rupee weakened marginally by 2 paise to close at 68.88 against the US dollar Wednesday amid strengthening of the American currency and robust selling in domestic equities. Forex traders said increased demand for the US currency from importers weighed on the rupee. However, sustained foreign fund inflows and easing crude oil prices cushioned the fall. At the Interbank Foreign Exchange (forex) market, the domestic currency opened lower at 68.98 a dollar but soon pared some losses. It finally settled at 68.88 per dollar, down 2 paise over its previous close. On Tuesday, the rupee had appreciated by 10 paise to 68.86 following a robust response to RBI's maiden rupee-dollar swap auction. Under the rupee-dollar swap auction conducted Tuesday, the Reserve Bank received bids for USD 16.31 billion, against the notified amount of USD 5 billion. "The Reserve Bank of India (RBI) received an overwhelming response to its dollar swap window on Tuesday, establishing the instrument as a credible ..
Commerce min calls meeting of stakeholders on increasing exports to China on Apr 5
The commerce ministry has called a meeting of stakeholders including export promotion councils and other government departments to discuss ways to increase exports to China, an official said. Officials from the agriculture ministry, Agricultural & Processed Food Products Export Development Authority (APEDA), and representatives from export promotion councils would participate in the meeting. Growth in exports to China is beneficial for India as it has huge trade deficit with the neighbouring country. Trade deficit with China increased to USD 63.12 billion in 2017-18 from USD 51.11 billion in 2016-17. India is taking several steps to promote shipments to China. Recently, it has managed to export agricultural goods such as non-basmati rice to China. India is seeking greater market access for various agricultural products, animal feeds, oil seeds, milk and milk products, pharmaceuticals in light of the potential of these products/services in the Chinese market.