Page 716 - Business Finance
Over 1/5th of people in Taiwan read no book in 2018
More than one-fifth of people in Taiwan did not read a single book last year as smartphones, tablets and computers take up most people's time, according to a survey.
22nd Meeting of Sub-Committee of Financial Stability and Development Council held in Mumbai
Sub-Committee reviewed the major developments on the global and domestic fronts that impinge on the financial stability of the country
MSTC IPO subscribed 12 pc on second day of bidding
The initial public offer of state-owned e-commerce company MSTC was subscribed 12 per cent on the second day of bidding Thursday. The Rs 226-crore IPO received bids for 21,04,200 shares against the total issue size of 1,76,70,400 shares, as per data available with the NSE. The IPO, which opened for subscription on Wednesday, would close Friday and has a price band of Rs 121-128 per share. Equirus Capital Private Ltd is managing the IPO. MSTC, a Kolkata-based firm, was incorporated in 1964 as a trading company to deal in the export of scrap. There are three main business verticals in the company-- e-commerce, trading and recycling. The equity shares of MSTC are proposed to be listed on BSE and NSE.
China to overtake US in AI research: Study
Artificial intelligence is the next powerful weapon global economies are running after. Amidst the race to be the number one when it comes to AI power, China appears to have overachieved its own goal.The Chinese government published a paper in 2017, outlining its plan to become the world leader in AI by the year 2030. However, according to a new study, the country is soon set to overtake the US and become the global number one, a decade ahead of schedule.There are a number of reasons for China's success. From the sheer volume of AI papers published each year to generous government investment in both educational facilities and private industry, The Verge reports.The new research from Seattle-based Allen Institute for Artificial Intelligence (AI2) measured not just the number of research papers by China, but how often they are cited to measure their influence.The researchers analysed more than two million AI papers published until the end of 2018 to indicate that China is poised to ...
Farmer unions demand scrapping of RCEP pact
About 40 farmer unions, led by Bhartiya Kisan Union (BKU), on Thursday demanded the government walk out of the negotiations over the RCEP free trade agreement, saying it would be disastrous for the domestic agriculture sector if the pact comes through.
Sebi slaps over Rs 27 lakh fine on 5 entities for fraudulent trade in stock options
Markets regulator Sebi has levied a total penalty of over Rs 27 lakh on five entities for fraudulent and manipulative trading in illiquid stock options on BSE. Jahangirabad Finance Co Pvt Ltd, Renesola India Pvt Ltd, Rakesh Garg, Rattan Ispat Pvt Ltd and Ritman Commodities are the entities facing action, as per separate orders by the regulator. Sebi conducted an investigation into the trading activity in illiquid stock options on BSE from April 2014 to September 2015 after observing large-scale reversal of trades in the bourse's stock options segment. The regulator observed that the entities placed buy and sell orders in a synchronised manner within seconds of each other and reversed the trades within a short time with wide variation in prices of the trades. The entities generated trading volumes without any change of beneficial ownership, thereby creating an appearance of artificial trading, Securities and Exchange Board of India (Sebi) said. Such trades executed by the entities were
February WPI up to 2.93% on costlier food (2nd Lead)
Higher food prices accelerated India's annual rate of inflation based on wholesale prices to 2.93 per cent in February from 2.74 per cent reported for the corresponding month of 2018, official data showed on Thursday.
Unused ITC for half-built houses to be reversed
The unused Input Tax Credit (ITC) on goods and services lying with the property developers as on March 31 will be reversed for under-construction properties since the ITC stands to lapse from April 1 for such houses.
S S Mundra appointed as chairman of Acuite Ratings
He also served as RBI's nominee on the Financial Stability Board (G20 Forum) and its various committees
Wipro opens third industrial IoT centre in Kochi
IT major Wipro Ltd on Thursday opened its centre of excellence for Industrial Internet of Things (IIoT) in Kochi in Kerala, a company statement said.
HDFC Capital, Tribeca form Rs 500 cr housing platform
HDFC Capital Advisors and realty firm Tribeca Thursday announced a Rs 500 crore fund for development of mid-income housing projects in Mumbai and Delhi-NCR. The projects will be developed by Tribeca, which is developing two Trump Tower projects in Kolkata and Gurugram. HDFC Capital Advisors, which is the real estate-focused fund management arm of HDFC Ltd, and Tribeca said the platform will invest Rs 500 crore through a combination of debt and equity. This is probably for the first time, HDFC Capital has set up a platform with new age developers like us. We have already identified our first project in Gurugram where around 600 flats would be constructed, Tribeca MD Kalpesh Mehta told PTI. The company has already tied up with a local developer who owns the land. This project would be developed at a construction cost of around Rs 300 crore, he said. HDFC Capital has already put in Rs 135 crore as debt in this first project. This platform will leverage Tribeca's asset light model of ...
Rupee spurts 20 paise to end at 7-month high on robust foreign inflows
The rupee appreciated by 20 paise to close at a seven-month high of 69.34 against the US dollar Thursday, extending gains for a fourth session in a row, on robust foreign inflows ahead of general elections. The domestic currency in the four sessions to Thursday has appreciated by 80 paise or 0.8 per cent on hopes of forex inflows. "Rupee and sovereign bonds have recovered from day's low and turned positive even after RBI's plan to inject USD 5 billion liquidity via three-year foreign exchange swap auction," said V K Sharma, Head PCG & Capital Markets Strategy, HDFC Securities. The Reserve Bank Wednesday said it will inject long-term liquidity worth USD 5 billion into the system through dollar-rupee swap arrangement with banks for three years. "RBI announcement will have a limited impact on USD/INR spot on higher rupee liquidity in the economy, expectations of lower OMOs and likely greater FX inflows on lower hedging costs," Sharma said. The strong foreign fund flows in current ...
MSTC IPO subscribed 12%
Receives bids for 21.04 lakh shares
Super Plastronics eyes Rs 1,000 cr turnover in 2 years
Super Plastronics, the brand licensee of Thomson TV and Eastman Kodak Company in India, is eyeing a turnover of Rs 1,000 crore in the next two years on the back of innovative product launches. "We are targeting Rs 1,000 crore turnover in two years time. We plan to launch many innovative products in the next year," Super Plastronics Pvt Ltd (SPPL) CEO Avneet Singh Marwah told reporters here. Brand Thomson is owned by Technicolor SA, France. SPPL is expected to close the current fiscal with Rs 450 crore turnover, Marwah said. Thomson TV accounts for 65 per cent of the company's total sales. It currently has three manufacturing units at Noida, Una and Jammu. Thomson TV Thursday launched at 40 inch 4K technology TV priced at Rs 20,999. It will be available for sale from March 16 on Flipkart.
India Accelerator program hosts the inner circle and selects 9 start-ups for the spring 2019 program
India Accelerator - the only GAN partnered, mentorship-driven, Acceleration program in India recently hosted "The Inner Circle". The selected gathering of the highly curated guests got a first-hand view of the multiple opportunities available for the savvy investor seeking structured instruments to invest in the startup world.The session was attended by many eminent personalities like Rajesh Sud (ex-Vice Chairman and MD Max Life Insurance), Vikas Gujral (Director and Chief Operating Officer, Max Bupa Health Insurance), and Manoj Dawne, a serial investor, and entrepreneur, Shipra Mishra(Co-founder Kabeela.life Ventures) and many other angel investors.India Accelerator has also shortlisted nine start-ups for its spring 2019 cohort. The S2019 Program is an intensive 4-month innovation "boot camp" based program, where start-ups are provided with technology, business services, and incubation space, along with intense individual mentoring focused on the product and business development. ..
RBI re-categorizes IDBI Bank as a Private Sector Bank
LIC acquire 51% of the total paid-up equity share capital of the bank
CMI gets vendor approval from prestigious Companies
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Refurbished smartphone market growth slows to 1% in 2018
The global market for refurbished smartphones slowed to one per cent year-over-year (YoY) growth in 2018, reaching close to 140 million units, Counterpoint Research said on Thursday.
RInfra to sell its stake in Delhi-Agra Toll Road
Reliance Infrastructure (RInfra) on Thursday said it has signed a "definitive binding agreement" with Singapore-based Cube Highways and Infrastructure for sale of its 100 per cent stake in Delhi-Agra (DA) Toll Road Pvt Ltd.
Forum to focus on quality, secure accommodation for students
To advocate and work towards providing quality and secure accommodation to students in the country, a forum that includes leading student rental housing service providers was launched Thursday. The Student Accommodation Providers Forum of India (SAPFI) includes leading student rental housing service providers such as Stanza Living, CoHo, Placio, Renaissance Living Spaces, TribeStays, Campus Student Living Community and YourSpace among its core members. It is also supported by leading entities across real estate, legal and public policy domain including CBRE, Cushman and Wakefield, Ikagai Law and Chase India, who will collaborate as associate members of the forum. According to a recent report by the Ministry of Human Resource Development, there were over 36 million students across higher education institutions in India in 2017-18. The forum sees potential for robust growth in this sector, not just in large cities but also across higher education hubs in smaller cities across the ...