Page 826 - Business Finance
NALCO plan envisages more than Rs 2,000 cr net profit by 2020
Aluminium major NALCO aims to raise its net profit to more than Rs 2,000 crore by 2020 and Rs 2,500 crore in next three years using a new business model, a top company official said Friday. When the global economy was reeling under economic slowdown, with the metal sector being affected the worst, NALCO took a conscious decision of introducing an all weather business model that focuses on benchmarking and quantification, chairman and managing director, Tapan Kumar Chand said. "With the business model in place, the company doubled its net profit from Rs 669 crore in 2016-17 to Rs 1,342 crore in 2017-18. Now the company is all set to scale higher on financial front and envisages achieving a net profit of more than Rs 2,000 crore by 2020 and Rs 2,500 crore in the next three years," the Nalco CMD said. Chand was speaking after inaugurating a National management conference (NamCon-2019) on "Weatherproof organisation: Challenging the Challenge" here. Besides, to retain ...
Telcos with 4G network will have to invest less for 5G services: TRAI
The Telecom Regulatory Authority of India (TRAI) in a white paper released on Friday said although deployment of the 5G network would require substantial investments, the operators which currently have 4G network would need a lesser amount of investment as they can use their existing 4G infrastructure for 5G services.
India, US expected to soon finalise a trade package to boost bilateral commerce
To boost the bilateral trade, Commerce Ministry officials and the US Trade Representative (USTR) are in the process of finalising a trade package which would be announced soon, an official said. India is pressing for exemption from high duty imposed by the US on certain steel and aluminium products, resumption of export benefits to some domestic goods under their Generalised System of Preferences (GSP) as well as greater market access for its products from sectors like agriculture, automobile, auto components and engineering. On the other hand, the US is demanding greater market access through cut in import duties for its agriculture goods, dairy products, medical devices, IT and communication items, the official said. As the talks are going on, India is extending the deadline for imposing high customs duties on 29 US products in retaliation to Washington's move to impose high import duties on certain steel and aluminium products. The official added that India and the US are having ...
Former boss makes $1.7 billion bid for struggling UK lender Provident
(Reuters) - The former boss of Provident Financial is leading an unsolicited 1.3 billion pound ($1.7 billion) bid to buy the firm where he spent 22 years but which has run into trouble with regulators worried about the rates it charges on loans.
WPI inflation dips to 10-month low of 2.8% in January 2019
Core inflation dips to 2.9% in January 2019
Board of Vyapar Industries approves buyback of shares up to Rs 4.43 cr
At meeting held on 22 February 2019
Board of Tulive Developers approves buyback of shares upto Rs 16.80 cr
At meeting held on 22 February 2019
Allahabad Bank intimates of appropriation of GoI's capital infusion of Rs 6896 cr
Powered by Capital Market - Live News
Telangana govt proposes to waive farm loans up to Rs 1 lakh
Reflecting the welfare thrust of the ruling TRS ahead of Lok Sabha polls, the vote-on-account budget for 2019-20 presented by Chief Minister K Chandrasekhar Rao Friday proposed fresh farm loan waiver of up to Rs 1 lakh, increase in social security pension and an unemployment allowance of Rs 3,016 per month, among others. The budget, presented by Rao as he holds the finance portfolio, proposed to waive all agriculture term loans up to Rs 1 lakh, outstanding as on December 11, 2018. An amount of Rs 6,000 crore has been proposed towards the farm loan waiver, Rao said in his budget speech in the legislative assembly. He noted that his party, the Telangana Rashtra Samithi (TRS), had promised the loan waiver before the December 7, 2018 assembly elections. The budget reflected the major electoral promises made by TRS, with thrust on welfare schemes. The previous TRS government led by Rao had also implemented a loan waiver for farmers. Under the Rythu Bandhu investment support ..
GMR-Terna to build new airport in Greece
GMR Airports Limited, along with its Greek partner Terna Group, will develop the new international airport of Heraklion at Crete, Greece.
Corporation Bank receives capital infusion of Rs 9086 crore from Govt. of India
This amount has been utilised to make loan loss provision in order to bring down the Net NPA ratio below the threshold under Prompt Corrective Action Framework.
Arunachal Pradesh Assembly passes Vote-on-Account
The Arunachal Pradesh Assembly Friday passed the Vote-on-Account for the year 2019-20 by voice vote. With state Assembly elections due in April-May this year, Deputy Chief Minister Chowna Mein on Thursday presented the Rs 3,455.48 crore vote on accounts for four months to meet up states expenditure for the period, till a full-fledged budget is placed in the Assembly. Initiating the discussion in the Assembly, Mein, who also holds the Finance portfolio, said, "Since the 2019-20 Annual Development Agenda has not yet been finalised, the estimates of expenditure in the vote on account for four months are based on salaries, wages, pension and other unavoidable expenses." Referring to the resource position of the state for 2018-19, Mein stated that the share of central taxes grew from actual receipt of Rs 9238.79 crore in 2017-18 to Rs 10,798.47 crore in revised estimate of 2018-19. "The states own tax revenue in the revised estimate (RE) of 2018-19 is Rs 1,200 crore as ...
UP minister extends support to industry to tackle smuggling, counterfeiting issues
Uttar Pradesh Minister Brijesh Pathak Friday extended his support and cooperation to the industry's efforts to curb smuggling and counterfeiting activities. Pathak, who holds portfolios of justice, legislative, conventional energy sources and political pension, urged the industry to come out with a set of recommendations, which will be 'duly considered while designing the future policies.' "I congratulate this initiative to curb the menace of smuggling and counterfeiting activities, which is destroying economy, and extend my support in working collaboratively with the industry body," he said while addressing a seminar organised by FICCI CASCADE (Committee Against Smuggling and Counterfeiting Activities Destroying the Economy) here. "If adequate and necessary support from the general public is received, the government will be better equipped to fight the hazards of smuggling and counterfeiting and make new laws on the subject," he said. FICCI Uttar Pradesh state council member Amar ...
Take Five: World markets themes for the week ahead
LONDON (Reuters) - Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.
India is one of the fastest-growing emerging markets for Airbnb: Blecharczyk
Online accommodation platform major Airbnb Friday said India is one of the fastest-growing emerging markets for the company as it unveiled its 'Plus Homes' range in India. The company, which commenced operations in India in 2016, currently has 45,000 listings on its platform. "Fastest-growing markets for Airbnb are emerging markets and India is one of them. India is one of the fastest-growing emerging markets for the company," Airbnb co-founder and Chief Strategy Officer Nathan Blecharczyk told PTI. India is an important business opportunity for Aibnb as it has a huge population and a huge number of millennials, young people, he added. The company has also introduced its new range of 'Plus Homes' in India. Currently, these are available in over 41 cities across the globe. All of them are verified for quality, comfort and design, Blecharczyk said. "We would be inviting about 4,500 super hosts to participate in the process of joining the new range," he added. Emphasising the growth ...
ExpanGlobal hosted International Global Franchise Show 2019
"ExpanGlobal" hosted India's largest International Global Franchise Show at Le Meridien Hotel, New Delhi on 17th and 18th February. Over 100 leading brands from around the world participated. This event brings together key delegates from around the region and from all parts of the world to share their franchising expertise with thousands of visitors as part of an event.Throughout the event, attendees were encouraged to take advantage of the expansive display of franchise opportunities, explore and network with industry-leading franchise brands, and attend comprehensive programs. Global Franchise Show offers guests the chance to learn strategies for success with over seminars and in-depth workshops.In some part of the country, one or more new franchisors emerge when a small businessman decides to take his journey forward by building his own brand and expand its presence in newer geographies through alliances with a like-minded business enthusiast who believes in his vision and agrees ..
SJVNL generates record 100 billion units electricity
Public sector Satluj Jal Vidyut Nigam Ltd (SJVNL) on Friday created a record by generating a cumulative 100 billion units electricity in this fiscal from its 1,500 MW Nathpa Jhakri plant in Himachal Pradesh, which is the country's largest hydro project, the company said.
Institutionalisation of P J Nayak panel report to improve governance of PSBs: CEA
Chief Economic Adviser K V Subramanian Friday made a case for implementing some of the recommendations of the P J Nayak Committee report with a view to improve corporate governance in the banking sector. Asserting that the governance aspect of the banking sector needs to be fixed, he said some of the recommendations of the Nayak committee have been implemented and some more need to be institutionalised. "For example, this government has shown the political will to let the public sector banks (PSBs) function independently without interfering in commercial aspects which is certainly important," he said at an event here. "Some of them (recommendations) are yet to be institutionalised and that's where some of the recommendations of the Nayak committee report need consideration to make sure this process of ensuring that banks are allowed to run commercially without any previous phenomenon of phone banking, etc. The risks are there if you don't institutionalise those," he said. Asked about .
Global Markets: Shares up, Aussie dollar rebounds, Brent hits 2019 high
LONDON (Reuters) - Global shares crept higher on Friday as signs of progress on trade offset a worsening economic outlook, while the Aussie dollar recouped some losses after China denied it had halted Australian coal imports.
Centre trying to implement Rs 900 cr sericulture projects in
The Centre is trying to implement Rs 900 crore sericulture projects in the North East to empower farmers and weavers, Union Minister for Textile Smriti Irani Friday said. Launching the Integrated Large Scale Eri Farming in Arunachal Pradesh under North East Region Textile Promotion Scheme (NERTPS) at the state assembly here, Irani said the government has decided to provide financial assistance to 4000 beneficiaries under the scheme in the state. Irani also assured to impart skill training to seri farmers and weavers under the Samarth Scheme, which was launched for capacity building in the textile sector. There are 27000 looms and 33000 hand-loom weavers in Arunachal Pradesh. Initially the project would cover five districts of the state - namely Papumpare, East Kameng, Siang, East Siang and West Siang. The union minister said that Eri silk farming would be held in about 1000 acres in the chosen districts. If any registered weaver wants to upgrade their old looms then the .