Page 742 - Business Finance
No mileage issues with e-car Battista: Mahindra
Mahindra Group Chairman Anand Mahindra may have found the perfect reply to the most discerning question asked to Indian automobile manufacturers: "Kitna deti hai?" (What's the mileage).
China consumer price index at lowest level in a year
The consumer price index in China fell to its lowest level in a year last month, while producer prices hardly budged, according to figures published Saturday by the National Bureau of Statistics. The consumer price index (CPI) -- a key measure of retail inflation -- rose just 1.5 per cent in February year-on-year, compared with 1.7 per cent in January. It has now declined for four consecutive months and is at its lowest point since January 2018. China is grappling with a decline in global demand -- notably from the United States, which launched a trade war against Beijing last summer. Growth in China dropped to 6.6 per cent last year, its lowest level in 28 years. The government this week a nnounced it is aiming for growth of between just 6 and 6.5 per cent this year. The producer price index (PPI) -- an important barometer of domestic demand -- edged up by only 0.1 per cent in February, in a further sign the Asian giant's economy is slowing. That figure, matching January results, is .
MSMEs created 3.32 lakh net jobs in past 4 years: CII
A recent survey of over one lakh micro, small and medium enterprises (MSMEs) shows that 332,394 net jobs were created over the past four years, registering an increase of 13.9 per cent over the employment base four years ago.More significantly, the survey by Confederation of Indian Industry (CII) indicates that 570,804 new jobs are likely to be created over the next one year, marking an increase of 21 per cent over the current employment base. 'Net jobs created' is defined as recruitment less exits.CII undertook the largest ever MSME specific survey, covering 105,347 firms of varying sizes, across sectors and geographies to obtain a deeper understanding of the sector, particularly in relation to job creation.The CII survey shows that micro enterprises were the largest job creators in the past four years and will continue to be so in the next three years. This holds true for both exporters and non-exporters.The top job generating sectors were hospitality and tourism followed by ...
Gold prices dip for another week
The slide in gold prices continued for yet another week, with the yellow metal losing Rs 600 to close at Rs 33,170 per ten grams at the bullion market, tracking a weak trend overseas amid tepid demand from local jewellers. Silver followed suit and ended lower due to reduced offtake by industrial units and coin makers. Market remained closed on Monday on account of Mahashivratri. Traders said sentiment remained downbeat on a weak trend overseas and strengthening of rupee against the dollar, making imports of gold cheaper. Meanwhile, the rupee ended the week at 70.14 against the US dollar at the interbank forex market. Globally, gold ended the week higher at USD 1,298.70 an ounce and silver at USD 15.31 an ounce in New York. Besides, diversion of funds to the rising equity market and fading demand from local jewellers and retailers at the end of the wedding season too fuelled the downtrend. In the national capital, gold of 99.9 per cent purity commenced the week on a weak note at Rs ...
Government garners Rs 57,523.32 cr from sell-offs post Dredging Corp stake sale
The government's FY19 disinvestment proceeds have reached Rs 57,523.32 crore following its decision to sell its entire stake in the Dredging Corporation (DCI) to a consortium of four state-owned ports for Rs 1,050 crore.
Gold weakens on muted demand; silver rises
Gold prices drifted lower by Rs 100 to Rs 33,170 per 10 grams at the bullion market here Saturday owing to weak demand from jewellers even as the metal strengthened overseas. On the other hand, silver rallied by Rs 800 to Rs 39,900 per kg due to increased offtake by industrial units and coin makers. Traders said easing demand from local jewellers as well as retailers at the domestic spot market led to the decline in prices, but a firm trend overseas capped the fall. Globally, gold rebounded from multi-week lows to USD 1,298.70 an ounce in New York on Friday as the dollar slipped ahead of a key US jobs report and investors fretted over increased signs of a global slowdown. Silver surged to USD 15.31 an ounce. In the national capital, gold of 99.9 per cent and 99.5 per cent purity declined by Rs 100 each to Rs 33,170 and Rs 33,000 per 10 grams respectively. The yellow metal had gained Rs 200 in Friday's trade. Sovereign gold, however, remained flat at Rs 26,400 per piece of eight ...
Ramdev slams MNCs for HUL's controversial tea ad
Patanjali Ayurved founder Baba Ramdev has slammed multinational corporations after an advertisement from FMCG major Hindustan Unilever Limited (HUL) allegedly ridiculed Indian culture.
Sustainable mining will start in Goa if Congress comes to power: Rahul
Visiting Congress President Rahul Gandhi said on Saturday that sustainable mining will resume in Goa if the party came to power in the coming Lok Sabha elections.
SBI 1st to lower interest rates for short-term borrowers
The country's largest lender, State Bank of India (SBI), has effected the process for transmission of low interest rates to its borrowers and depositors.
VP Naidu holds talks with Costa Rica President, seeks investment from Costa Rican companies
Vice President M Venkaiah Naidu has met President of Costa Rica Carlos Alvarado Quesada and held "fruitful" discussions on a range of issues, including cross border terrorism, and new areas of collaboration that hold potential to boost the bilateral ties. Vice President Naidu, who became the first Indian on Friday to receive an honorary doctorate by the University of Peace founded by the United Nations, also invited the Costa Rican companies to invest in India and benefit from high returns. "President of Costa Rica Carlos Quesada and I have had fruitful and cordial exchanges covering a range of areas of mutual interest. Based on our fruitful exchanges, we are confident that our mutual efforts will open up new and innovative vistas for deepening ongoing engagement between both countries," Naidu said. "India is a peace loving country but has been a target of terrorism from across our border for the last few decades. We discussed in detail the menace of terrorism and the need to fight in
Tata Motors Group global wholesales decline 9% in Feb 2019
Global wholesales of all Tata Motors' Commercial Vehicles and Tata Daewoo range in February 2019 were at 84,512 nos., lower by 9% over February 2018.
World Bank: Venezuela must pay Conoco more than $8 billion
A World Bank arbitration panel ruled on Friday that Venezuela must pay US oil giant ConocoPhillips more than $8 billion as compensation for a decade-old expropriation dispute, roughly the same amount as the South American country's foreign currency reserves. The bank's ICSID tribunal had ruled in 2013 that the 2007 expropriation of ConocoPhillips investments in two heavy crude oil projects violated international law. "We welcome the ICSID tribunal's decision, which upholds the principle that governments cannot unlawfully expropriate private investments without paying compensation," said Kelly B. Rose, senior vice president, Legal, General Counsel and Corporate Secretary of ConocoPhillips. The law firm Curtis, Mallet-Prevost, Colt & Mosle LLP, which represented Venezuela before the panel, did not immediately respond a request for comment. Collecting the money may be difficult as the Venezuelan economy has shrunk more than half since 2013 and sanctions by the Trump administration ...
Marshall Islands to launch digital currency this year
The Marshall Islands' is gearing to release a digital currency this year, although officials acknowledged Friday there is much work still to be done to alleviate concerns of United States financial regulators. However, the launch date of the currency, known as the "SOV", has yet to be decided. "We plan to launch SOV this year," said Barak Ben Ezr, chief executive officer of Neema, the Israel-based company that is partnering with the Marshall Islands government to develop the digital currency. A primary issue for the launch is that following the boom in 2017 and early 2018, the crypto-currency market value has plummeted. "We are working days and nights to prepare the foundations of the SOV initial coin offering, with the goal of being ready to launch once positive momentum is back to the markets," Ezer said. "It will be done once all stakeholders are convinced that SOV is ready, risks have been mitigated, and momentum is building." Neema and the Marshall Islands are working through a ..
SBI to link key pricing decisions on saving deposits to repo rate
Lending major SBI on Friday said it will link key pricing decision for savings bank deposits and short term loans to the repo rate of the RBI.
India's January domestic air traffic up 12%: IATA
The growth of India's domestic air passenger traffic sequentially slowed in January but managed to rise in double-digits for the 53rd consecutive month, a global airline association said on Friday.
UP RERA issues deregistration notices to 7 builders
The Uttar Pradesh Real Estate Regulatory Authority Friday issued deregistration notices to seven builders for failing to meet their commitments to buyers covering 14 projects and approximately 4,800 residential units. The first of its kind action against builders has been taken under Section 7 of the RERA Act, according to an official statement. The developers who had been served notices include Primrose Infratech for Primrose Ryne project, PSA Impex for Sampada Livia, MSA Developer for Circuit Heights, Greenbay Infrastructure for Greenbay Golf Homes & Golf Village, Intellicity Business Park for Intellicity project, Mist Direct Sales for Festival City Phase 1,2,3 and Unnati Fortune Holdings Ltd for the Aranya Phase 3,4,5. Aranya Phase 1 and 2 have lapsed as the promoters have failed to extend the registration, it said. "Deregistration notice has been served based upon the information collected, site inspections, complaints in RERA and non-compliance of the RERA Act. "While the ...
UN Women, biz conglomerate join hands to raise issues faced by women in corporate world
UN Women and a business conglomerate Friday joined hands for an event, aiming to provide the right exposure to issues and discrepancies faced by women in the corporate world, and find a solution, officials said. The event marking International Women's Day was held here epitomising the day's theme for UN Women -- Think equal, Build smart, Innovate for change. "It also lay focus on advancing women's leadership in corporate roles and boosting participation in strategy and planning ranks right from inception, irrespective of the business," the organisers said in a statement. The event witnessed the presence of leading women from various walks of life. "It aimed at not only providing the right exposure to the issues and discrepancies faced by women at the management and employee ranks, but also to find a solution," the O P Jindal Group said in the statement. In a statement, Deputy Country Representative, UN Women, Nishtha Satyam, said, "Women dedicate almost three times more effort in ...
Mining will resume in Goa after Cong is voted to power: Rahul
Congress president Rahul Gandhi Friday said sustainable iron ore mining in Goa would resume once his party is voted to power at the Centre after the upcoming Lok Sabha elections. Iron ore extraction and transportation came to a standstill in Goa in March last year following a Supreme Court order that quashed 88 mining leases. "The closure of mining has affected lakhs of people. We have decided that the Congress party will start sustainable mining in Goa once it is voted to power after the 2019 elections," Gandhi said. He was addressing "Jeet Ki Aur", a booth-level convention of Congress workers organised near here ahead of the Lok Sabha elections. The people dependent on mining are demanding that existing laws be amended to give a new lease of life to the industry, a key source of revenue for the government. Gandhi said tourism in Goa was adversely affected after the 2016 demonetisation of high-value currencies. "Now Modiji is busy making Goa a coal centre to help his ...
Over 2,400 toilets, wi-fi facility at 4,791 railway stations
In an attempt to enrich passengers' ease of travelling, Minister of Railways and Coal Piyush Goyal on Friday launched several projects to construct over 2,400 toilets and provide wi-fi facility at 4,791 stations. According to an official statement, wi-fi facility, toilets, and steel benches will be supported through the Rail Sahyog, a platform for corporates and PSUs to contribute to the creation of amenities for the passengers with their Corporate Social Responsibility (CSR) funds.The wi-fi facility will be provided at 4,791 stations by the Tata Trust, which will ensure the passengers have access to high-speed internet services."Out of 8,738 stations, 6,441 stations have been identified to be provided with wi-fi facility excluding 2,297 halt stations. So far, 832 stations have been equipped with wi-fi facility," said the statement.According to the statement, 775 more stations will be provided with wi-fi facility by the end of the current month. The remaining 4,791 stations will get ..
MP government waives-off Rs 1 lakh loan of tribals
The MP government has waived-off up to Rs 1 lakh loans of tribal people, an official statement said here on Friday.