Page 770 - Business Finance
India's import duties not high; within global trade norms of WTO: Govt
Rejecting US claims of imposing "tremendously high" tariffs, India Tuesday said its import duties are not high and are within the norms of the World Trade Organisation (WTO). "We do not agree with that at all. Our tariffs (import duties) are very consistent with the bound rates that we are entitled to in the WTO," Commerce Secretary Anup Wadhawan told reporters here. "Our tariffs are very comparable to more liberal developing economies and some developed economies," he added. He said India's tariffs are within its bound rates under the WTO commitments, and on the average are well below those rates. Duties which are imposed on imported goods are called applied rates and the extent to which a country can increase those duties are known as bound rates. India's trade weighted average tariffs are 7.6 per cent, which is comparable with the most open developing economies, and some developed economies. The commerce ministry, in a statement, said on developmental considerations, there may be .
Nifty trades above 10,900 mark
The market further extended gains and hit fresh intraday high in mid-afternoon trade. At 14:20 IST, the barometer index, the S&P BSE Sensex, was up 235.06 points or 0.65% at 36,298.87. The Nifty 50 index was up 78.70 points or 0.72% at 10,942.20.
Market extends gains
Key benchmark indices extended gains and hit fresh intraday high in afternoon trade. At 13:28 IST, the barometer index, the S&P BSE Sensex, was up 176.19 points or 0.49% at 36,240. The Nifty 50 index was up 61.35 points or 0.56% at 10,924.85.
Aluminium futures slip 0.25% on muted demand
Aluminium prices softened by 0.25 per cent to Rs 145.80 per kg in futures trading Tuesday as speculators cut bets amid subdued demand at the domestic spot market. At the Multi Commodity Exchange, aluminium for delivery in March eased by 17 paise, or 0.25 per cent, to Rs 145.80 per kg in a business turnover of 2,456 lots. Similarly, the metal for delivery in April contracts was trading lower by 20 paise, or 0.14 per cent, at Rs 146.25 per kg in 126 lots. Analysts said offloading of positions by participants due to slackened demand from consuming industries in the physical market weighed on aluminium prices in futures trade.
Silver plunges in futures trade, down Rs 170
Silver prices fell by Rs 170 to Rs 38,526 per kg in futures trade Tuesday as speculators cut down their bets to book profits amid a weak trend overseas. Silver to be delivered in May was down by Rs 170, or 0.44 per cent, to Rs 38,526 per kg at the Multi Commodity Exchange. It clocked a business volume of 17,563 lots. Silver for delivery in July, too, was trading lower by Rs 117, or 0.19 per cent, at Rs 39,120 per kg in a business turnover of 315 lots. Market analysts said profit-booking at current levels and fresh losses in the white metal overseas, mainly led to the fall in silver prices in futures trade here. In the international market, silver traded 0.14 per cent higher at USD 15.08 an ounce in Singapore.
ZEE5 Deepens its Presence in Malaysia With Celcom in Partnership With Apigate
/ -- ZEE5's bouquet of over 100,000 hours of multi-lingual content to be available to Celcom subscribers In a press conference in Kuala Lumpur today, Archana Anand, Chief Business Officer-ZEE5 Global, announced ZEE5's partnership with Celcom, Malaysia's premier and most experienced telecom operator. (Logo: https://mma.prnewswire.com/media/808397/ZEE5_Logo.jpg ) (Photo: https://mma.prnewswire.com/media/818490/Archana_Anand_ZEE5_Global.jpg ) This partnership will provide Celcom customers a secure and convenient payment mode, through Apigate's Direct Carrier Billing API, to subscribe to ZEE5's rich content bouquet. ZEE5, which is a part of Zee Entertainment Enterprises Limited (ZEEL), offers 100,000 hours of Indian Movies, TV Shows, News, Videos and exclusive Originals, across 12 languages including Hindi, English, Bengali, Punjabi, Malayalam, Tamil, Telugu, Kannada, Marathi, Oriya, Bhojpuri and Gujarati. It also offers 60+ popular Live TV channels, including ZEE's best loved ...
Reliance Infrastructure gets Rs 648 crore contract for new airport in Rajkot
Reliance Infrastructure Limited has bagged a contract to build a new airport at Hirasar in Rajkot district of Gujarat with a cost of Rs 648 crore.The company said on Tuesday that it has got the letter of award from the Airports Authority of India (AAI). The company had participated in the tender for engineering, procurement and construction (EPC) contract independently as the main contractor.Reliance Infrastructure scored the highest technical score of 92.
StoreHippo consolidates global presence with Middle East expansion
StoreHippo®, the leading SaaS e-commerce platform is all set to solidify its presence in the Middle East region. StoreHippo had been serving e-commerce clients in the region for quite some time now. In its latest round of expansion, it has forged strong partnerships with leading courier and banking partners to offer even more holistic services to a diversified range of e-commerce businesses in the region.The Middle East has witnessed a 1500% increase in e-commerce sales volume in the past decade. This growth has been aided by solid growth drivers like improvement in infrastructure, better internet connectivity and 90% of its population having access to smartphones. This backdrop necessitates a mobile-ready e-commerce solution for businesses that are planning to go online in the region.StoreHippo is very well placed to cater to this demand. With PWA at its core, online stores built on StoreHippo e-commerce platform have a distinct advantage. These stores look, feel and work like a ...
Board of Coffee Day Enterprises appoints director
At meeting held on 05 March 2019
Borosil Glass Works invests Rs 2.50 cr in Klasspack (subsidiary)
Powered by Capital Market - Live News
Crude oil futures rise to Rs 3,995 per barrel
Crude oil futures rose by Rs 9 to Rs 3,995 per barrel in futures market Tuesday as speculators created fresh positions amid weak global cues. At the Multi Commodity Exchange, crude oil for delivery in March was trading higher by Rs 9, or 0.23 per cent, to Rs 3,995 per barrel with a business turnover of 14,269 lots. The crude for delivery in April also moved up by Rs 10, or 0.25 per cent, to Rs 4,039 per barrel with a business volume of 639 lots. Marketmen attributed the rise in crude oil futures to raising of bets by participants even as overseas market traded on a cautious path. Meanwhile, West Texas Intermediate crude prices fell 0.46 per cent to trade at USD 56.33 a barrel, while Brent crude was down 3 cents, or 0.43 per cent, at USD 65.39 a barrel on the New York Mercantile Exchange.
Services PMI Rises Further, Business Sentiment Improves
Economic conditions in India's dominant service sector remained positive in February, with a quicker expansion in new work supporting a faster increase in output and solid job creation. Business sentiment also improved, while rates of both input cost and output charge inflation cooled. One area of weakness was international trade, with exports down from January. Rising from 52.2 in January to 52.5 in February, the seasonally adjusted Nikkei India Services Business Activity Index pointed to a moderate though quicker upturn in output. Greater bookings, the securing of new clients and supportive public policies were often commented on by companies that reported higher output.
Insolvency and Bankruptcy Code Introduced Competition For Entrepreneurship And Capital
Injeti Srinivas, Secretary, Ministry of Corporate Affairs has stated that the Insolvency and Bankruptcy Code, 2016 (Code) is a very deep economic reform initiated in the recent years in the country and yet there is no parallel to the swift enactment and implementation of the law. Tracing the path of economic reforms in the country, he stated that some businessmen earlier had 'vested interests' in failing businesses, and as a result, there was no competitive spirit among the entrepreneurs.
Purchasing Property in Turkey With Cryptocurrency Now Possible With Antalya Homes
/ -- Despite the loss in the value of many digital currencies and particularly Bitcoin in the past year, data from Statista indicates that the number of cryptocurrency wallet owners has increased 32% and reached 31 million by the end of 2018. Widely used in many industries including automotive, travel and informatics, cryptocurrency has also become widespread in the real estate sector. (Photo: https://mma.prnewswire.com/media/830501/Bitcoin_Turkish_Property.jpg ) Leading companies in the world such as Microsoft, Virgin Atlantic and Shopify now allow users to make payments in cryptocurrencies for their products and services. The real estate sector has also experienced an increase in the use of digital currencies and it is now possible to buy houses with cryptocurrency in Turkey, a home for many foreign investors. With a total market value of 140 billion dollars, cryptocurrency is actively used in travel, food, information technologies, automotive as well as real estate sectors. As one
Datamatics Wins 2019 IBM Asia Pacific Excellence Award for Top Transformation Business Partner
/ -- Datamatics Global Services Ltd. (DGSL), a global IT & BPM company, today announced that it has won IBM Asia Pacific Excellence Award at the IBM PartnerWorld at Think conference in San Francisco, CA. IBM's Excellence Award recognizes a select number of IBM Business Partners who have demonstrated business excellence in delivering IBM-based solutions that are driving exceptional client experiences and business growth. Datamatics was named one of the 20 IBM Asia Pacific Excellence Award winners. The company was selected based on set performance criteria established by IBM's Asia Pacific Excellence Award. The award acknowledges Datamatics' exceptional work in driving business value and industry success across Asia Pacific. Commenting on the occasion, Mr. Hitendra Shinde, Senior Vice President - Sales, Datamatics Global Services Ltd., said, "We are honoured to receive the Top Transformation Business Partner award as it showcases our alignment with IBM's portfolio of solutions. We .
Gold futures decline Rs 114 on profit-booking
Gold prices fell by Rs 114 to Rs 32,256 per 10 gram in futures trade on Tuesday as participants went for profit-booking at prevailing levels even as the metal strengthened overseas. In futures trade at the Multi Commodity Exchange, gold for delivery in April eased by Rs 114, or 0.35 per cent, to Rs 32,256 per 10 gram in a volume of 12,332 lots. Similarly, the yellow metal for delivery in far-month June shed Rs 139, or 0.43 per cent, to Rs 32,479 per 10 gram in a business turnover of 7,939 lots. Analysts attributed the fall in gold futures to profit-booking by traders at the existing level, but a firm trend in the global market restricted the fall. Globally, however, gold was trading 0.06 per cent up at USD 1,285.67 an ounce in Singapore.
Vistara to operate 16 new flights starting March 5
Domestic full-service carrier Vistara on Tuesday announced launch of 16 new daily flights, including to two new destinations Raipur and Dibrugarh, as part of its network expansion plans. The new services commence from Tuesday in a phased manner, Delhi-based Vistara said in a release. The airline will also introduce its flight services to Jammu from New Delhi, besides mounting additional flight to Chandigarh, Srinagar, Bhubaneswar and Kolkata from Delhi. While frequencies on Delhi-Chandigarh and Delhi Srinagar routes are being scaled to two flights per day, the Delhi-Bhubaneswar services will be operated three times per day, it said. The services on DelhiKolkata route will be four times per day, as part of the latest route network expansion, the airline said. Some of the new fights will have seasonal operations, it said. "Vistara is pleased to announce new destinations, flights, and frequencies in response to high demand from customers and corporates alike. We continue to
Massive surge in Jindal Stainless (Hisar) Ltd
Jindal Stainless (Hisar) Ltd is quoting at Rs 95.8, up 8.43% on the day as on 12:49 IST on the NSE. The stock is down 46.85% in last one year as compared to a 6.51% drop in NIFTY and a 21.71% drop in the Nifty Metal index.
TV18 Broadcast Ltd spurts more than 4%
TV18 Broadcast Ltd is quoting at Rs 37, up 4.08% on the day as on 12:49 IST on the NSE. The stock is down 38.79% in last one year as compared to a 6.51% spurt in NIFTY and a 21.2% spurt in the Nifty Media index.
Den Networks Ltd jumps around 5% on strong buying support
Den Networks Ltd is quoting at Rs 77.2, up 4.96% on the day as on 12:49 IST on the NSE. The stock is down 20.25% in last one year as compared to a 6.51% slide in NIFTY and a 21.2% slide in the Nifty Media index.