Page 839 - Business Finance
London's Heathrow Airport could see trade boost in no-deal Brexit
LONDON (Reuters) - London Heathrow Airport could be boosted by extra trade if Britain leaves the European Union without a deal and Britain's seaports and roads get clogged up with extra congestion, the airport's chief executive said on Thursday.
Interweave Joins Hands With Catalyst in India
/ -- The first-of-its-kind partnership will enable Catalyst and Interweave to provide more extensive support to companies across the country Interweave, India's leading Diversity & Inclusion solutions company, has entered into a partnership with Catalyst, the global non-profit organization accelerating progress for women through workplace inclusion. As a partner, Interweave will now manage a portion of Catalyst Supporters in India, enabling Catalyst to expand its mission impact in the country. Quotes: Nirmala Menon, Founder & CEO, Interweave - "We are delighted to represent a globally renowned organization such as Catalyst, that has been a pioneer and leader in promoting Gender Equality, Diversity and Inclusion for more than half a century. Their knowledge and experience in this area has benefitted hundreds of organizations around the world, and we hope to draw from it to provide best possible solutions for our members." Lorraine Hariton, President & CEO of Catalyst - ...
Modi invites more South Korean investment in India
Making a call to intensify the India-Korea economic relations, Prime Minister Narendra Modi here on Thursday urged more Korean businesses to turn their attention towards India.
Turnover in F&O segment jumps
Reliance Industries, Tech Mahindra, ICICI Bank February 2019 futures most active
EPFO Board recommends 8.65% interest rate for 2018-19
The Employees' Provident Fund Organisation (EPFO) board has recommended an interest rate of 8.65 per cent for 2018-19, 10 basis points higher over the previous fiscal.
Swedish authority calls Swedbank money laundering report 'very serious'
STOCKHOLM (Reuters) - Sweden's financial watchdog said allegations in a media report linking Swedbank to a Baltic money laundering scandal involving Danske Bank were "very serious".
Exclusive: Nigeria hits oil majors with billions in back taxes
LONDON (Reuters) - Nigeria has ordered foreign oil and gas companies to pay nearly $20 billion in taxes it says are owed to local states, industry and government sources said, in a move that could deter investment in Africa's largest economy.
Chemetall receives Airbus SQIP award for the fifth consecutive time
/ -- The Surface Treatment global business unit of BASF's Coatings division, operating under the Chemetall brand, has again been awarded the highest supplier award in the Airbus Supply Chain & Quality Improvement Program called SQIP. For the fifth consecutive year, Chemetall achieved the "Accredited Supplier" status. The award acknowledges Chemetall's sustained performance, strong continuous improvement and customer-oriented approach in line with Airbus targets and expectations. Chemetall supplies Airbus with high-quality Naftoseal aircraft sealants and Ardrox corrosion protection products which meet the stringent requirements of the international aerospace industry. "This is a great honor to receive this award for the fifth consecutive year, and it makes us extremely proud. It reflects our trustful cooperation with Airbus, and acknowledges the passion and dedication of the entire Chemetall team to support the Airbus growth strategy," says Hendrik Becker, Chemetall's Global ...
Public sector banks zoom up to 19 pc on fund infusion plan
Shares of public sector banks (PSBs) jumped up to 19 per cent Thursday after the finance ministry announced infusion of Rs 48,239 crore in 12 such lenders in this fiscal to help them maintain regulatory capital requirements and finance growth plans. Corporation Bank zoomed 19.02 per cent at close of trade, UCO Bank 8.75 per cent, United Bank 7.19 per cent, Indian Overseas Bank 6.78 per cent, Central Bank of India 5.50 per cent on BSE. Shares of Allahabad Bank jumped 5.34 per cent, Andhra Bank 5.22 per cent, Bank of Maharashtra 3.96 per cent, Syndicate Bank 3.59 per cent, Punjab National Bank 2.95 per cent, Union Bank of India 2.80 per cent and Bank of India 1.83 per cent. "Market extended gains as investors sentiment has been boosted owing to recapitalisation of PSU banks," said Vinod Nair, Head of Research, Geojit Financial Services. With this funding, the total amount of capital infusion would increase to Rs 1,00,958 crore of the planned recapitalisation of Rs 1.06 lakh crore for ...
Basketball shoe malfunction puts Nike in the spotlight
PARIS (Reuters) - Nike's shares were set to come under pressure on Thursday after emerging basketball star Zion Williamson was injured when his Nike sneaker split during a game.
EPFO finalises 8.65pc interest for 2018-19: Gangwar
Retirement fund body EPFO has decided to provide 8.65 per cent interest on PF deposits for 2018-19 against 8.55 per cent in the last year to its 6 crore subscribers, Labour Minister Santosh Gangwar said Thursday. All members of the Central Board of Trustees (CBT) of EPFO at a meeting here agreed to give a higher interest for subscribers for the current fiscal, the minister said further. The proposal would now go to the Finance Ministry for approval, Gangwar said after the CBT meeting. Earlier, highly placed sources had indicated that the interest on EPF deposits for this fiscal could be more than 8.55 per cent in view of impending general elections. The Central Board of Trustees (CBT) headed by Labour Minister is the apex decision making body of the EPFO which finalises rate of interest on PF deposits for a financial year. Once approved by the CBT, the proposal requires the concurrence of the Finance Ministry. The interest rate is credited into the subscribers account after the ...
Sensex, Nifty gain for second straight session
Domestic stocks ended higher for second straight session amid positive global cues. Broader market outperformed the main stock indices. The Nifty ended a tad below 10,800 mark.
Quick Wrap: Nifty Pharma Index records a surge of 1.16%
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Kesoram Industries waiting for SEBI approval for demerger of
Kesoram Industries Limited, a BK Birla group company, is expecting to get the SEBI approval of its proposed demerger of its tyre business by February this year, a company official said. He said the entire demerger process was likely to be completed by July-end. The official said stock exchanges had given in-principle clearance. "We are waiting for SEBI's approval. Then we will approach the NCLT", he said. Kesoram was having three business units - cement, tyre and rayon.
Gold up by Rs 360 on jewellers' buying
Gold prices on Thursday rose Rs 360 to Rs 34,830 per 10 gram at the bullion market here on increased buying from local jewellers, according to the All India Sarafa Association. Silver, however, fell by Rs 140 to Rs 41,660 per kg on decreased offtake by industrial units. Bullion traders said sentiment in the domestic market turned upbeat on the back of increased buying by jewellers and retailers, leading to a rise in the prices of the yellow metal. They, however, added that the further gains were capped by weak global market. Globally, gold was trading lower at USD 1,338.31 an ounce and silver moved marginally down to 15.98 an ounce in New York. Meanwhile, Tapan Patel, senior research analyst (commodities), HDFC Securities, said going forward, global gold prices may see some correction as "negative divergence on daily charts" is signalling. He added that the global prices of the yellow metal came under pressure on stronger dollar following the minutes of the US Federal Open Market ...
Henkel goes vegan to revive beauty business
DUESSELDORF, Germany (Reuters) - German consumer goods company Henkel announced new hair care formulations and brands on Thursday, seeking to tap into consumer demand for more natural ingredients as it tries to revive sluggish growth in its beauty business.
Srei Equipment Finance to co-lend with Syndicate Bank
Srei Equipment Finance Limited, a wholly owned subsidiary of Srei Infrastructure Finance, has tied up with state-owned Syndicate Bank to jointly provide financing for construction and farm equipment. Under the arrangement, Syndicate Bank would leverage on its low-cost funds and co-lend equipment loans with Srei at a mutually agreed rate, a company statement said on Thursday. The arrangement had been done under the aegis of Reserve Bank of India, the statement added.
Kesoram Rayon unit eyes Rs 400 crore revenue in 2019-20
Cygnet Industries, a unit of Kesoram Rayon, is eyeing a revenue of Rs 400 crore in the fiscal 2019-20 from the present levels of around Rs 350 crore, a company official said. The official said the company was betting big on bio-degradable food wrapping solutions which would compete with the aluminium foil wraps and other similar products. He said that the size of the food wrapping industry for household use would be around 1200 metric tonnes per month. Kesoram Rayon, a B K Birla group company was among the few players in the world to manufacture food-grade transparent paper made purely from wood with high levels of cellulose content, he said. Popularly known as cellophane paper, the company launched 'Kesophane' wraps which according to the official, was highly bio-degradable. The product was also having industrial applications as well, he told reporters Wednesday evening. A wholly-owned subsidiary of Kesoram Industries, Cygnet Industries had been in the business of ...
Global Markets: Shares retain gains, Aussie whacked by rates and coal woes
LONDON (Reuters) - Signs the United States and China were tackling some of the stickiest issues in their trade war kept world shares near a four-month high on Thursday, though it could not prevent a favourite Chinese proxy, the Aussie dollar, hitting the skids.
Russia charges top U.S. investor Calvey with fraud: lawyer
MOSCOW (Reuters) - Russian prosecutors have formally charged Michael Calvey, the founder of Baring Vostok private equity group, with fraud, his lawyer Dmitry Kletochkin said on Thursday.