Page 844 - Business Finance
Gold futures weaken by Rs 101 on weak global cues
Gold prices were down by Rs 101 to Rs 33,769 per 10 gram in futures trade Thursday as speculators reduced exposure in tandem with a muted trend in the precious metal overseas. At the Multi Commodity Exchange, gold for delivery in April traded lower by Rs 101, or 0.3 per cent, at Rs 33,769 per 10 gram in a business turnover of 16,342 lots. The gold for delivery in far-month June also fell by Rs 105, or 0.31 per cent, to Rs 33,966 per 10 gram in 6,673 lots. Marketmen said the fall in gold prices at futures trade was mostly due to trimming of positions by participants. Globally, gold was trading downward by 0.36 per cent at USD 1,338.52 an ounce in Singapore.
Barometers hold firm at higher levels
Key benchmarks trimmed gains after hitting fresh intraday high in early afternoon trade. At 12:20 IST, the barometer index, the S&P BSE Sensex, was up 102.33 points or 0.29% at 35,858.59. The Nifty 50 index was up 29.80 points or 0.28% at 10,765.25.
Leasing in logistics, warehousing sector hits all-time high of 24 mln sq ft in 2018: CBRE
Leasing in the warehousing and logistics sector rose by 45 per cent to a record area of 24 million sq ft on rising demand from e-commerce players and other companies, after the implementation of GST, according to property consultant CBRE. Mumbai, national capital region (NCR), Bengaluru and Chennai accounted for more than 70 per cent of the leasing. The overall space take-up in the logistics and warehousing sector crossed 24 million sq ft in 2018 - an all time high, CBRE said in its report 'India Industrial and Logistics Market View, H2 2018'. The leased area in the sector was 16.5 million sq ft in 2017. The implementation of goods and services tax (GST) led to far-reaching implications on industries, more so in the warehousing and logistics sector, it added. Overall, in 2018, Mumbai, followed by NCR, Bengaluru and Chennai dominated the leasing segment, accounting for more than 70 per cent of the space take-up. We are very positive about the government's vision to increase the ...
HAL proposes for new squadron of Sukhoi-30 fighter jets
Hindustan Aeronautics Limited (HAL) on Thursday said it has proposed to the Defence Ministry to procure a new squadron of Sukhoi-30 fighter jets."We have put up a proposal and we hope to get a new squadron of Sukhois (Sukhoi-30 fighter jets) in the future," HAL Chairman and Managing Director (MD) R Madhavan told media at Aero India show here.This came following media reports that the central government is planning to increase the overhauling capacity of Sukhoi-30 fighter jets to 25 per year from the existing 12 aircraft.The Bengaluru-based HAL has been manufacturing and overhauling Su-30 fighter aircraft at its Ozar unit in Maharashtra's Nasik district since 2004.According to reports, HAL has manufactured 260 Su-30 aircraft to date and is expected to manufacture two additional aircraft from the facility by the end of this year.According to sources, the IAF is planning to procure eight new Sukhoi Su-30MKI from HAL. The total cost of the order is estimated to be more than Rs 30 billion .
Global Markets: Asia shares rise on U.S.-China trade deal optimism, Aussie tumbles
TOKYO (Reuters) - Asian shares pulled ahead to fresh 4-1/2-month highs and U.S. equity futures rose on a Reuters report that the United States and China have started to tackle the stickiest issues in their trade war.
Reliance Capital offers to sell stake in asset management firm to Nippon Life Insurance
(Reuters) - Reliance Capital Ltd said http://bit.ly/2GCzRVB on Thursday it had asked partner Nippon Life Insurance to buy its entire 42.88 percent stake in Reliance Nippon Life Asset Management Ltd.
Reliance Communications to pay Rs 550 cr plus interest thereon to Ericsson
A sum of Rs 118 crore has already been deposited with the Hon'ble Supreme Court.
Tata Steel shines after ratings upgrade
Tata Steel rose 1.47% to Rs 497.80 at 12:02 IST on BSE after Moody's Investors Service upgraded the company's corporate family rating by one notch to Ba2 from Ba3.
MRO-TEK Realty Ltd leads gainers in 'B' group
Neuland Laboratories Ltd, Mahanagar Telephone Nigam Ltd, Emami Realty Ltd and IZMO Ltd are among the other gainers in the BSE's 'B' group today, 21 February 2019.
Shell, PetroChina spat holds up Australia's biggest coal seam gas project
MELBOURNE/SINGAPORE (Reuters) - Royal Dutch Shell and PetroChina are at loggerheads over gas sales pricing at their Arrow Energy joint venture, holding up development of Australia's biggest coal seam gas resource, three industry sources said.
Exclusive: China cbank sees benchmark rate cut as last resort, may use other tools - sources
BEIJING (Reuters) - China's central bank is not yet ready to cut benchmark interest rates to spur the slowing economy, despite cooling inflation and a stronger yuan, which have fanned market expectations of such a move, policy sources told Reuters.
HUDCO selects Intellect for providing integrated lending and ERP solution
HUDCO is a wholly owned government company under the Ministry of Housing and Urban Affairs (MoHUA) mandated to finance urban housing as well as urban infrastructure projects. In its operations, HUDCO lays a considerable emphasis on housing for Economically Weaker Sections and Low Income Groups as the Central Nodal Agency for Credit Linked Subsidy Scheme (CLSS) under "Pradhan Mantri Awas Yojana - Housing for All", a national mission envisioned by our Hon'ble Prime Minister.
Corporation Bank leads gainers in 'A' group
UCO Bank, Indian Overseas Bank, Motilal Oswal Financial Services Ltd and Suzlon Energy Ltd are among the other gainers in the BSE's 'A' group today, 21 February 2019.
China central bank sees benchmark rate cut as last resort, may use other tools: sources
BEIJING (Reuters) - China's central bank is not yet ready to cut benchmark interest rates to spur the slowing economy, despite cooling inflation and a stronger yuan, which have fanned market expectations of such a move, policy sources told Reuters.
SK Hynix plans to spend $107 billion building four memory chip plants
SEOUL (Reuters) - South Korea's SK Hynix Inc on Thursday said it would spend $107 billion building four factories, as the memory chip maker seeks to maintain its competitiveness in the face of Chinese efforts to become a leading chipmaking nation.
Noida's state-of-art bus terminal expected to be ready by June 30
Around 70 per cent work has been completed on an upcoming state-of-the-art bus terminal in Noida, which is expected to be ready by the end of June, according to officials. Being developed at a cost of Rs 140.64 crore, the bus terminal is located in Sector 82 on the Dadri-Surajpur-Chhalera (DSC) road and spread over 31,400 sq metres, a senior official of Noida Authority said. The terminal will have space for both state transport as well as private buses. This will give a major boost to public transport system here, Noida Authority's General Manager Rajeev Tyagi said. A total of Rs 109.44 crore is being spent on infrastructure work, while another Rs 31.20 is the cost of electric work on the premises. Around 70 per cent of civil work is complete, and 75 per cent of electric work has been completed. The project is scheduled for inauguration on June 30, 2019, Tyagi said. A state-of-the art bus terminal was first proposed in 2012 and was part of Noida's Master Plan 2031. The project finally
US slaps sanctions against Indian man, parents for running global drug smuggling network
The US has slapped sanctions against a UAE-based Indian man and his parents for allegedly running a global money laundering and smuggling network for heroin. The US Department of Treasury on Wednesday said Jasmeet Hakimzada, who lives in the UAE, runs a global drug trafficking network that smuggles heroin, cocaine, ephedrine, ketamine, and synthetic opioids into the US, Australia, New Zealand and the UK. Since 2008, Hakimzada has laundered hundreds of millions of dollars of illicit proceeds using his UAE-based company Maiwand General Trading Company LLC through financial institutions in the US, Brazil, India, Panama, the UAE and the UK, it alleged. The Department of Treasury also designated his parents and four entities registered in India or the UAE that form part of the narcotics trafficking organisation run by Hakimzada. Jasmeet Hakimzada's global drug trafficking and money laundering network has been involved in smuggling heroin and synthetic opioids around the world, said Sigal ..
Indices open flat in morning session, banking stocks gain marginally
Equity benchmark indices jumped between gains and losses in the morning session on Thursday with banking stocks showing some gains.All sectoral indices were in the green with banking scrips rising following reports that the government will inject Rs 48,239 crore into 12 public banks to boost credit growth.At 11:15 am, the BSE Sensex was up 29 points at 35,786 while the Nifty 50 was trading 10 points higher at 10,746.Among stocks, ICICI Bank, Indiabulls Housing Finance, GAIL and Sun Pharmaceutical were the top gainers. On the other hand, Infosys, Bharti Airtel and HPCL were among losers.In currency markets, Indian rupee opened marginally higher at 71.07 against the dollar compared to the previous close of 71.11 due to easing crude oil prices in global markets.Meanwhile, Asian stocks were also trading higher amid optimism over on-going trade talks between the United States and China.US officials believe the negotiations have gone well so far and President Donald Trump is open to ...
China cbank sees benchmark rate cut as last resort, may use other tools - sources
BEIJING (Reuters) - China's central bank is not yet ready to cut benchmark interest rates to spur the slowing economy, despite cooling inflation and a stronger yuan, which have fanned market expectations of such a move, policy sources told Reuters.
ZEE5 and Dialog Announce a Strategic Partnership to Bring the Largest Bouquet of Premium Regional Content to Sri Lanka
/ -- ZEE5's extensive bouquet of 1,00,000 hours of premium Indian content will now be available through the Dialog ViU app ZEE5, the largest digital entertainment platform for language content, announced its very first international partnership in the SAARC region with Dialog Axiata PLC, Sri Lanka's premier connectivity provider. The partnership will provide Dialog ViU app users with over 1,00,000 hours of premium regional content. Dialog ViU customers will be able to subscribe at a charge of LKR 350 per month to access one of the region's best content libraries. (Logo: https://mma.prnewswire.com/media/808397/ZEE5_Logo.jpg ) (Photo: https://mma.prnewswire.com/media/818490/Archana_Anand_ZEE5_Global.jpg ) (Photo: https://mma.prnewswire.com/media/824965/ZEE5_and_Dialog_Partnership.jpg ) Dialog customers will be able to access ZEE5 Originals like Karenjit Kaur, Zero Kms as well as recent crime thrillers Rangbaaz and Abhay, scintillating Bollywood hits like Veere Di Wedding and Toilet; an