Page 822 - Business Finance

6 pc point increase in expenditure on social service sectors in Delhi between FY 2014-15 and 2017-18

The expenditure incurred on social service sectors in Delhi increased from 68.71 per cent in 2014-15 to 74.76 per cent in 2017-18, the Economic Survey of Delhi 2018-19 report stated. The report was presented during the Delhi Assembly's budget session on Saturday said the budgetary allocation for various schemes and projects in social service sectors in financial year 2018-19 was 83.60 per cent. In the current fiscal, the allocation for financial assistance for senior citizen, women in distress and people with special needs was approximately Rs 2,214 crore, it said. About 4.42 lakh senior citizens have been provided monthly financial assistance in 2018-19 fiscal (till December, 2018) as compared to about 4.38 lakh beneficiaries of old age pension in 2017-18. According to the report, about 2.35 lakh 'women in distress' have been remitted monthly financial assistance till December 2018 in the current financial year, as compared to about 2.05 lakh the previous fiscal. A many as 82,339 ...

GVK Group to increase its stake in Mumbai International Airport to 64%

Powered by Capital Market - Live News

Board of Adani Power approves acquisition of three power generation entities of AEL

At meeting held on 23 February 2019

Adani Logistics set to acquire agri-logistics arm from AEL

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Board of Manappuram Finance approves additional investment of Rs 120cr in subsidiary Asirvad

At meeting held on 23 February 2019

Mamata government creates DRI&E to tackle tax evasion, leakage of revenue

In a bid to tackle the menace of tax evasion and leakage of state revenue in an efficient manner, the West Bengal government has created its own new Directorate of Revenue Intelligence and Enforcement (DRI&E), an official said on Saturday.

Adani Logistics set to acquire agri-logistics arm from AEL

Adani Logistics, a subsidiary of Adani Ports and SEZ, Saturday said it will acquire Adani Agri Logistics from Adani Enterprises in an all cash deal, which is expected to be completed by March. "Adani Agri Logistics (AALL) is a subsidiary of Adani Enterprises (AEL) and the transaction is proposed at an enterprise value of Rs 1,662 crore," a statement said. Post the acquisition, the combined business EBITDA (earnings before interest, tax, depreciation and amortisation) will immediately double to Rs 200 crore, it added. Adani Agri Logistics will add 28 locations and 7 trains to Adani Logistics network. "AALL targets to double infrastructure capacity in the next three years and tap the new 12.5 MMT infrastructure market as well as opportunities such as conventional storage conversion, among others," the statement said. The combined business would also benefit from leveraging significant opportunity for handling multiple commodities and transportation. "This acquisition of AALL brings us ..

MSE 'Financial Inclusion' drive in Goa to boost participation from Tier II, Tier III cities and rural areas

Metropolitan Stock Exchange of India Ltd (MSE) has undertaken a massive 'Financial Inclusion' drive to broad-based stock market participation from Tier II, Tier III cities and rural areas of Goa.MSE organised a 'Financial Inclusion Seminar' on Friday for imparting 'Financial Literacy' and educating men and women of the state about stock market investing in a bid to reduce the gender and geographical skew that exists in market participation.Currently, around 3% of India's population of 1.34 billion invests in capital markets, and the participation is extremely skewed to the top 10 cities. According to SEBI Bulletin - January 2019, Top 5 cities alone contributed to 69% of cash market turnover during 2017-18. Further, around 85% of an approximately estimated 3.5 crore registered stock market investors in India are men. Hence a need is felt to spread the capital markets literacy across the regions and genders. Both SEBI, the securities market regulator and the stock exchanges are ...

Draft national e-commerce policy for encouraging FDI in online marketplace only

The draft national e-commerce policy, to be released soon, has suggested a series of conditions for operating online retail business in India through marketplace model, including mandatory mentioning of seller details on the website for all products and financial disincentives if vendors found to be selling counterfeit products. The draft policy, accessed by PTI, also encourages foreign direct investment in the marketplace model only and not in inventory-based business, and enlists steps. It said e-commerce players would be required to undertake certain measures including seller details to be made available on marketplace website for all products and this shall include the full name of the seller, address and contact details including e-mail and phone number; sellers must provide an undertaking to the platform about genuineness of products they are selling; trademark (TM) owners shall be given the option to register themselves with e-commerce platforms. "In case TM owners so desire, ..

Gold extends gains on wedding demand, positive global cues

Gold extended gains for yet another week at the bullion market with prices rising by another Rs 140 to Rs 34,590 per 10 gram as local jewellers continued their buying activity to meet ongoing wedding season demand, coupled with positive cues from global markets. Bullion traders said sentiment in the domestic market was upbeat on the back of increased buying by jewellers and retailers, driven by ongoing wedding season, leading to a rise in the prices of the yellow metal. Besides, depreciating rupee against the dollar supported the upside in the precious metal prices, they added. On Monday, the Delhi bullion market remained closed in the wake of the terror attack on Central Reserve Police Force (CRPF) personnel in Jammu and Kashmir's Pulwama district. Gold prices climbed to a about 10-month high overseas as concerns over a global economic slowdown spurred a safe-haven demand. Globally, gold futures to surged to USD 1,330.65 an ounce while silver at USD 15.88 an ounce in New York. Spot ..

OPPO wants to do a OnePlus, enter US market: Report

Chinese handset maker OPPO is now aiming to foray into the US market, similar to what premium smartphone maker OnePlus did in October 2018.

India is like a continent in terms of growth opportunity: GSMA DG

India is not only a country but also represents a continent in terms of market diversity and growth opportunity, the top official of global telecom industry body GSM Association said here. GSMA Director General Matt Granryd said that among emerging markets, there are advanced markets such as South Africa, Nigeria in North Africa and growing markets like Rwanda, but the Indian market represents a continent itself. "India is more like a continent. It's not a country. It's like a continent. Little bit similar (to emerging economies in Africa and South America) but smaller in scale in India, you have advanced markets in Delhi, Mumbai Hyderabad and Bengaluru then you have other parts like Bihar where you would have a lot of developing markets," Granryd told PTI in an interview ahead of the Mobile World Congress 2019 here. He said India is an exciting market as compared to leading economies; it offers both option of working on advanced technologies as well as economies of scale. "If you ...

Jharkhand to again privatise liquor shops to increase revenue

The Jharkhand government has decided to again hand over liquor sale to private parties and increase the number of shops to 1,664 in a bid to boost revenue.

SEBI bars commodity trading by Motilal Oswal, IIFL in NSEL scam

Market regulator Securities and Exchange Board of India (SEBI) has declared the commodity broking arms of Motilal Oswal and India Infoline (IIFL) as not "fit and proper", as part of the action taken in the NSEL case.

Board of Directors of Inspirisys Solutions approves increase in authorised share capital

At meeting held on 23 February 2019

India has the potential to emerge as $10 trillion economy: Modi

Prime Minister Narendra Modi said on Saturday that India has the potential to emerge as a 10 trillion dollars economy with countless startups and rank as the third largest globally.The country has made rapid strides since 2014 with an average GDP growth rate of 7.4 per cent and inflation at less than 4.5 per cent, he said while speaking at the ET Global Business Summit. "This will be the highest growth and lowest inflation during the period of any government in post-liberalisation era," said Modi. "India today is a country where the impossible is now possible. This is in contrast to the sentiment prevalent in the previous government where the only competition was over corruption."Modi said after the NDA government came to power in 2014, hesitations has been replaced by hope, issues have been replaced by initiatives. "With unprecedented changes and reforms, transformation is happening. Reforms undertaken by the government have laid the foundation for solid growth in coming years.".

Twitter co-founder Williams steps down from board

Twitter co-founder Evan Williams on Friday announced that he is stepping down from the board of directors of the the micro-blogging site at the end of the month, according to a filing with the US Securities and Exchange Commission.

Only NDA has achieved sustained high growth with low inflation: Modi

Noting that his government had achieved the unprecedented dual objective of sustained high growth combined with low inflation, Prime Minister Narendra Modi on Saturday said innovation and technology would provide the backbone of "resurgence" for a "new India".

PM says competition for corruption under UPA replaced by highest growth rate, low inflation

Prime Minister Narendra Modi Saturday made a strong re-election pitch to corporate India as he drew contrasts between the governance styles of Congress and his party, saying competition for corruption in the previous regime had been replaced by highest growth rate and lowest inflation of post-liberalisation era. Addressing the Economic Times' Global Business Summit here, Modi elaborated on his vision for making India a USD 10-trillion economy and the world's third largest is one where the country has countless startups and is a global leader in renewable energy sources and electric vehicles. Back-breaking inflation, increasing current account deficit and higher fiscal deficit threatened macro-economic stability of the country just before the BJP-led NDA came to power in May 2014, he said. Launching a blistering attack on governance under UPA, he said there was a "competition between ministries, a competition between individuals, a competition on corruption (and) a competition on ...

China's Xi urges financial risk prevention while seeking stable growth

BEIJING (Reuters) - China should seek stable development of its economy while not forgetting to fend off risks to its financial system, Chinese President Xi Jinping said, state news agency Xinhua reported on Saturday.