Page 721 - Business Finance
Bajaj Consumer Care engages with Bain to develop growth strategies
Bain, the, renowned global Management Consultant has helped many FMCG companies in India develop and execute winning strategies to grow their businesses.
Godrej Industries appoints director
With ffect from 15 March 2019
Andrew Yule & Company announces appointment of director
With effect from 11 March 2019
Karur Vysya Bank raises Rs 487 crore through private placement of Tier II bonds
Powered by Capital Market - Live News
A2Z Infra Engineering pares 5.27% stake in subsidiary A2Z Green
Powered by Capital Market - Live News
Air India to suspend Delhi-Madrid, Delhi-Birmingham flights from Mar 16
Air India Wednesday announced that it is suspending its flights on Delhi-Madrid and Delhi-Birmingham routes from March 16 till further notice due to "operational reasons". As Pakistan has kept its airspace closed since February 26 due to the Balakot air strike by Indian air force, Air India's expenditure on flights to Europe and the US have significantly increased. In a tweet, the national carrier said, "Due to operational reasons, the following Air India flights are suspended with effect from March 16, 2019, till further notice." The airline then said that AI135 Delhi-Madrid flight and AI136 Madrid-Delhi flight would be suspended. It added that AI113 Delhi-Birmingham flight and AI114 Birmingham-Delhi flight would also be suspended. The airline said that AI117 Delhi-Amritsar-Birmingham flight and AI118 Birmingham-Amritsar-Delhi flight would be suspended too. "We sincerely regret the inconvenience caused to our valued passengers and request passengers to collect full refund," the ...
Aparna Enterprises forms JV with Hong Kong-based Craft Holding to make aluminium exterior solutions
Construction and building materials firm Aparna Enterprises Wednesday announced a joint venture with Hong Kong-based Craft Holding to manufacture and sell aluminium exterior solutions. The joint entity will operate under the brand name Aparna-Craft Exteriors Pvt Ltd, the company said in a statement. It will set up a manufacturing facility in Bachupally, Hyderabad, spread across 50,000 sq ft, with a production capacity of 0.6 million sq ft per annum initially. "Aluminum Exteriors as a market segment has a huge potential owing to rapid urbanisation and infrastructure development across the country," said Ashwin Reddy, managing director, Aparna Enterprises Ltd. Indian building facades and fenestrations industry is fast growing and is pegged at around Rs 10,000 crore, he said. Grant Craft, chairman, Craft Holdings Ltd, said: "India is one of the most dynamic markets in the world and we are pleased to partner with Aparna Enterprises to bring our expertise into the country." Aparna ...
Aparna Enterprises forms JV with Hong Kong-based Craft Holding to make aluminium exterior solutions
Construction and building materials firm Aparna Enterprises Wednesday announced a joint venture with Hong Kong-based Craft Holding to manufacture and sell aluminium exterior solutions. The joint entity will operate under the brand name Aparna-Craft Exteriors Pvt Ltd, the company said in a statement. It will set up a manufacturing facility in Bachupally, Hyderabad, spread across 50,000 sq ft, with a production capacity of 0.6 million sq ft per annum initially. "Aluminum Exteriors as a market segment has a huge potential owing to rapid urbanisation and infrastructure development across the country," said Ashwin Reddy, managing director, Aparna Enterprises Ltd. Indian building facades and fenestrations industry is fast growing and is pegged at around Rs 10,000 crore, he said. Grant Craft, chairman, Craft Holdings Ltd, said: "India is one of the most dynamic markets in the world and we are pleased to partner with Aparna Enterprises to bring our expertise into the country." Aparna ...
EC gives go-ahead to GST Council meeting on March 19
The Election Commission has given approval for holding the upcoming GST Council meeting on March 19 to consider various issues including the implementation of lower GST rates for the real estate sector. The next meeting will be held through videoconferencing, sources said. Following the approval from the Election Commission, sources said, notices have been sent from the GST Council Secretariat to states for the 34th meeting of the Council on March 19, they said. The nod from the Election Commission was required as the Model Code of Conduct has been in force since Sunday. The meeting will be held to discuss only transition provision and related issues for the implementation of lower GST rates for the real estate sector, the sources said. In the previous meeting, the high-powered GST Council slashed tax rates for under-construction flats to 5 per cent and affordable homes to 1 per cent, effective April 1. Currently, the goods and services tax (GST) is levied at 12 per cent with input ...
EC gives go-ahead to GST Council meeting on March 19
The Election Commission has given approval for holding the upcoming GST Council meeting on March 19 to consider various issues including the implementation of lower GST rates for the real estate sector. The next meeting will be held through videoconferencing, sources said. Following the approval from the Election Commission, sources said, notices have been sent from the GST Council Secretariat to states for the 34th meeting of the Council on March 19, they said. The nod from the Election Commission was required as the Model Code of Conduct has been in force since Sunday. The meeting will be held to discuss only transition provision and related issues for the implementation of lower GST rates for the real estate sector, the sources said. In the previous meeting, the high-powered GST Council slashed tax rates for under-construction flats to 5 per cent and affordable homes to 1 per cent, effective April 1. Currently, the goods and services tax (GST) is levied at 12 per cent with input ...
Nara Lokesh, Poonam Mahajan among Indians in Young Global Leaders list: WEF
Andhra Pradesh IT minister Nara Lokesh, BJP MP Poonam Mahajan and Xiaomi India head Manu Kumar Jain are among the Indians featuring in the list of Young Global Leaders, according to the World Economic Forum (WEF). The list has 127 of the world's "most promising social activists, business leaders, public servants, artists and technologists under the age of 40". They are pushing boundaries, achieving firsts, and breaking traditional rules to improve the world, the WEF said in a release. Apart from Lokesh, Mahajan and Jain, Telangana government's Chief Innovation Officer Phanindra Sama, SaveLife Foundation's Piyush Tewari and Kaleidofin's co-Founder Sucharita Mukherjee are also in the list. Lokesh is the minister of Information Technology, Electronics and Communications in Andhra Pradesh. "He is accelerating development in even the most rural villages of Andhra Pradesh as one of the youngest ministers in the country," the release said. About Mahajan, the release said she is both ...
Nara Lokesh, Poonam Mahajan among Indians in Young Global Leaders list: WEF
Andhra Pradesh IT minister Nara Lokesh, BJP MP Poonam Mahajan and Xiaomi India head Manu Kumar Jain are among the Indians featuring in the list of Young Global Leaders, according to the World Economic Forum (WEF). The list has 127 of the world's "most promising social activists, business leaders, public servants, artists and technologists under the age of 40". They are pushing boundaries, achieving firsts, and breaking traditional rules to improve the world, the WEF said in a release. Apart from Lokesh, Mahajan and Jain, Telangana government's Chief Innovation Officer Phanindra Sama, SaveLife Foundation's Piyush Tewari and Kaleidofin's co-Founder Sucharita Mukherjee are also in the list. Lokesh is the minister of Information Technology, Electronics and Communications in Andhra Pradesh. "He is accelerating development in even the most rural villages of Andhra Pradesh as one of the youngest ministers in the country," the release said. About Mahajan, the release said she is both ...
VW slashes thousands more jobs to fund electric transition
German car giant Volkswagen said Wednesday it would slash thousands of posts to cope with its transition to electric and autonomous driving the day after reporting rising profits, saying heavy costs for investments meant savings were needed elsewhere. Chief executive Herbert Diess had on Tuesday trumpeted rising sales and profits across the sprawling 12-brand group in 2018, the third year after its "dieselgate" emissions cheating scandal broke. But it was up to the VW brand's chief operating officer Ralf Brandstaetter to announce the flagship division would drop between 5,000 and 7,000 positions by 2023 as it chases cost savings. All of the cuts will come from non-replacement of workers already set to retire over that period, Brandstaetter said. "Given that more and more routine tasks are being automated, we'll need fewer jobs in administration," he said. At the same time, VW plans to create 2,000 new posts in software development and electronics. Overall the plan would help "finance .
M R Kumar appointed LIC chairman
M R Kumar was on Wednesday appointed the Chairman of Life Insurance Corporation of India (LIC), according to a Personnel Ministry order. Kumar was Zonal Manager (in-charge) of North Zone and will hold the post of the LIC Chairman for five years, it said. T C Suseel Kumar and Vipin Anand have been appointed as Managing Directors of the LIC for five years. Suseel Kumar is Zonal Manager (in-charge), LIC South Central Zone. Anand is Zonal Manager (in-charge), Western Zone.
Nifty March futures at premium
Turnover in F&O segment rises
Stop sale of telecom signal boosters without licence: COAI to e-tailers
Telecom industry body COAI has asked leading e-commerce companies such as Flipkart, Amazon India and Snapdeal to stop selling mobile signal boosters as their sale without a valid licence is a punishable offence. In a letter to e-commerce players, the Cellular Operators Association of India (COAI), whose members include Bharti Airtel, Vodafone Idea and Reliance Jio, mentioned mobile signal boosters and repeaters that require licence are being sold on their platforms. "Thus, it is pertinent to note that possession and sale of such equipment, without obtaining requisite permissions under the (Indian Telegraph) Act and rules framed thereunder constitutes violation of the provisions of the Act and is punishable offence," COAI Director-General Rajan S Mathews said. The letter was sent separately to Flipkart CEO Kalyan Krishnamurthy, Amazon India Country Manager Amit Agarwal, Snapdeal CEO Kunal Bahl, Rediff.com CEO Ajit Balakrishnan and Shopclues CEO Sanjay Sethi. Mathews said boosters and ..
HCL Tech to acquire US-based digital transformation consulting firm
Indian IT services company HCL Technologies Wednesday announced acquisition of US-based digital transformation consulting firm Strong-Bridge Envision. "With this acquisition, SBE (Strong-Bridge Envision) will become part of HCL's global digital and analytics business," HCL Technologies said in a statement. HCL Tech did not divulge the size of the deal but sources said it is about USD 45 million. SBE has offices in Seattle, Denver, Atlanta, and New York City. The firm, headquartered in Seattle, is a digital consulting firm specialising in customer experience strategy, business transformation, and change management. "Serving Fortune 1000 clients since its founding, Strong-Bridge Consulting merged with Envision in 2017 to extend its consultancy and digital transformation capabilities and further establish its footprint across North America," it said.
Lenders sell 12 cr share of Reliance Communications
Lenders of Anil Ambani-led Reliance Communications Wednesday sold 12 crore pledged shares, which accounted for 4.34 per cent stake of promoters in the telecom firm. The sale was a result of lenders invoking shares pledged with them. The pledged shares belonged to promoters including that of Ambani, his family members and RCom group entities, according to a BSE filing. With this sale of shares, promoters' stake in the company has come down to 37.57 per cent from 41.91 per cent earlier. At the current market price, the value of stock sold comes around Rs 59 crore. The company has been reeling under a debt of around Rs 47,000 crore and has opted for invoking bankruptcy proceedings. The matter is sub-judice. The shares of RCom on Wednesday closed at Rs 4.91 a unit, down by 4.1 per cent, at the BSE.
RBI relaxes norms for trade credit
The Reserve Bank of India (RBI) Wednesday relaxed norms for imports of capital and non-capital goods by raising the trade credit limit to USD 150 million under the automatic route. Announcing the modified revised framework for 'Trade Credit Policy', the RBI, however, reduced the all-inclusive cost (all-in-cost) for overseas loans to benchmark rate plus 250 basis points from the earlier 350 bps. Trade credits (TCs) refer to the credits extended by the overseas supplier, bank, financial institution and other permitted recognised lenders for maturity for imports of capital and non-capital goods permissible. According to the revised framework, TCs up to USD 150 million or equivalent per import transaction for oil and gas refining & marketing, airline and shipping companies can be availed under the automatic route. For others, the limit is up to USD 50 million or equivalent per import transaction. Earlier, under the automatic route, banks were permitted to approve trade credit up to ...
India far away from being less-cash economy, must address digital payments security issues: Nilekani
India is still very far away from being a less-cash economy and security issues around digital payments system needed to be addressed to make the mode more acceptable, Nandan Nilekani said Wednesday. Nikelani -- who is the chairman of RBI Committee on Digital Payments -- said that in the last couple of years, there has been an expansion of forms of digital payments including cards and there are more retail points accepting cards as well as point of sale (POS) devices. He was addressing the '2019 India Forum of the PCI Security Standards Council' through video conferencing here. "We are still a very long way from really getting into a less-cash economy, and the reason for that is, cash as you know is very convenient, anybody accepts cash and there is no transaction cost in cash. We are seeing a secular increase in the number of transactions," he said. Flagging security-related issues with with regard to digital transactions, Nilekani stressed on making the card payments infrastructure