Page 852 - Business Finance
Garmin forecasts higher full-year revenue, shares rise
(Reuters) - Garmin Ltd reported quarterly results that beat Wall Street estimates on Wednesday on the back of higher demand for its smartwatches and navigation systems and forecast full-year revenue above expectations.
Shell teams up with Repsol to explore for oil and gas off Bulgarian coast
SOFIA (Reuters) - Bulgaria has given permission to Royal Dutch Shell to transfer 20 percent of the rights to explore a block off its Black Sea coastline for gas and oil to Spain's Repsol, the government said on Wednesday.
Saudi Arabia sees global oil market rebalancing by April
Both OPEC and non-OPEC oil producers hope that the global crude market will get balanced by coming April following the latest production cuts being implemented since last month, Saudi Arabia's Energy Minister Khalid Al-Falih said on Wednesday.
Indian Wood Products Company allots 3.79 crore bonus shares
Pursuant to the aforesaid allotment the Issued, Subscribed and Paid-up Share Capital of the Company increased from Rs. 6,39,72,720/- divided into 3,19,86,360 equity shares of Rs.2/- each to Rs.72,79,45,440/-divided into 6,397,2720 equity shares of face value of Rs.2/-each.
ONGC, Reliance to get gas pricing, marketing freedom for new discoveries
To raise domestic output and cut imports, the government will give ONGC and Reliance industries pricing and marketing freedom for yet to be developed discoveries and will levy a lesser royalty in case of state-owned firms raising production from existing fields. Officials said the Cabinet headed by Prime Minister Narendra Modi on Tuesday approved a new exploration policy that contains a slew of measures for boosting domestic production of oil and gas. Marketing and pricing freedom will be given to those new gas discoveries whose field development plan (FDP) or investment proposal is yet to be approved. This would apply for both state producers like ONGC and private ones like Reliance. ONGC is sitting on two dozen discoveries which it had not been able to produce because of current government mandated price being less than cost of production. Reliance too has discoveries in east coast block NEC-25 where it can produce after the new freedom. Officials said an incentive to produce ...
Outcome of Board meeting of Transchem
Held on 20 February 2019
Bank of Baroda fixes record date for scheme of amalgamation
Record date is 11 March 2019
ANJ Group wins prestigious titles of "Emerging company of the year" and "Young Leader of the Year Award"
ANJ Group, one of India's leading Architectural Design and Turnkey Contracts firm added two more titles amidst its growing list of accolades and awards. At a glittering ceremony held in Mumbai, the group was honored with the "Emerging Company of the year award" and their Managing Director - Ashok Kularia was felicitated with the "Young leader of the year award" for 2019.These awards are a platform to collectively bring together leaders across the Globe. It's a platform for transformational leaders who are Iconic and can operate in a hyperactive environment full of change and challenges and yet make a difference. The event was presented by BTVI, the country's premier English business news channel.Speaking on this occasion, Mr. Ashok Kularia, Managing Director, ANJ Group, commented, "We have added two more milestones to our kitty by bagging these awards. It is a testimony of our continuous efforts to strive and deliver the best for our clients. I give all the credit to my father, Mr. ...
Saudi Aramco reinforces faith in $44 bn Ratnagiri refinery
Saudi Aramco chief Amin Nasser on Wednesday reinforced his faith in the 44 billion dollar Ratnagiri refinery in Maharashtra."We're working with our partners Indian Oil, Bharat Petroleum and Hindustan Petroleum. We are very positive about our investment in India. With regard to Ratnagiri, the 1.2 million barrel refinery, we are very positive about the outcome," he told ANI.Nasser is accompanying Saudi Crown Prince Mohammed bin Salman's during his official visit here. "Between the partners, we are committed and we have what it takes to execute," he said. The deal is among the biggest foreign investments in the country's hydrocarbon sector while the refinery will be capable of processing around 1.2 million barrels of crude oil a day.Saudi Aramco and the Indian consortium will each own 50 per cent of the project, which is located about 215 miles south of Mumbai.
Global Markets: US-China trade hopes extend equity surge; central banks supportive
LONDON (Reuters) - World stocks hit a four-month high on Wednesday on hopes of progress in trade talks between the United States and China, with a dovish backdrop at major central banks also helping push markets back into the black.
Saudi energy minister hopes oil market will balance by April
NEW DELHI (Reuters) - Saudi Energy Minister Khalid al-Falih said on Wednesday he hoped the oil market would be balanced by April and that there would be no gap in supplies due to U.S. sanctions on OPEC members Iran and Venezuela.
Sensex ends losing streak, ends 403 points higher
A slight ease in crude oil prices along with value buying and a strong rupee aided the benchmark Sensex to snap its longest consecutive sessions fall in the last eight years on Wednesday.
Aarti Industries signs Rs 900 cr supply contract for specialty chemical intermediate
Aarti lndustries Ltd (AIL), which is into pharma and chemical businesses, Wednesday said it has bagged a Rs 900 crore contract to supply specialty chemical intermediate to a global firm. The Mumbai-based company has "signed a USD 125 million (Rs 900 crore at current exchange rate) supply contract with a leading global chemical conglomerate," it said in a filing to the BSE. The contract entails supply of a high value specialty chemical intermediate for a period of 10 years, it added. AIL estimates a capital investment of about USD 15 million to set up a commercial scale manufacturing facility for the production of the specialty chemical intermediate which is not a part of the existing product range. The facility will be located in Gujarat and the plant is expected to be commissioned in Q4 of FY'2021, with an average annual revenue of USD 12.5 million. "The end use of the product is one of the major new growth initiative for the customer. The supply quantities of the contract will be ...
Government drives big bang reforms in oil & gas sector
Decision incorporates recommendations made by Committee on Enhancing Domestic Oil and Gas Exploration
India is a partner for the future: Argentina President
Mr. Prasanna Sarambale, National Executive Committee Member, FICCI and CEO, Data Center Business and Group Head Business Development, Sterling and Wilson Pvt. Ltd. said that there was no shortage of opportunities for India and Argentina to work together. "The political and economic landscape of our two countries has witnessed wide-ranging changes. The core focus of both the countries are inclusive growth, sustainable development and thriving business entrepreneurship", he added. Many leading Indian companies like Sterling Wilson, Bajaj, Cognizant Technologies, TAFE, Tata Consultancy Services, United Phosphorus Ltd. etc. were actively participating in development process of Argentina, he informed the delegates.
Saudi Aramco to decide in first half on financing SABIC buy - CEO
NEW DELHI (Reuters) - Saudi Aramco said on Wednesday it expects to decide by mid-2019 how to finance the acquisition of Saudi Arabian Basic Industries Corp (SABIC).
Zebi acquires Bengaluru-based Blockchain startup Element42
Global Blockchain company Zebi on Wednesday announced the acquisition of Bengaluru-based start-up Element42 for an undisclosed sum.
Rlys creates special post for safety, to restructure cadre, expand board as cabinet gives nod
The railway ministry has created a director general-level post to ensure more focus on security, along with restructuring and expansion of the railway board, officials said on Wednesday, adding that around 900 officers of the eight group A services will benefit from these changes. The cadre restructuring, which was pending since 2012 and a pet project of Railway Minister Piyush Goyal, was approved by the cabinet on Tuesday. The government has also given its go ahead for the expansion of the Railway Board to include a Member, Signalling and Telecom and a Member, Material Management. The cabinet has also approved encadrement of the post of Member (staff), a cadre post for IRPS, and re-designation of the posts of Director General (Signal & Telecom), Director General (Stores) and Director General (Personnel) as Member (S&T), Member (Materials Management) and Director General (Safety) respectively.
Reliance Group stocks under pressure, slip up to 4.3% on SC order in Ericsson case
Shares of Reliance Group companies Wednesday closed 4.3 per cent lower after the Supreme Court held chairman Anil Ambani and two other senior officials guilty of contempt of court for wilfully violating its order and not paying Rs 550 crore dues to telecom equipment maker Ericsson. The stock of embattled telecom firm RCom slumped 3.65 per cent. Other laggards among the group firms were Reliance Capital, falling 4.26 per cent, followed by Reliance Home Finance 4.07 per cent, Reliance Naval and Engineering 2.34 per cent, Reliance Infrastructure 2.29 per cent and Reliance Power 0.92 per cent on the BSE. These stocks tumbled as much as 10.3 per cent during the day. The apex court Wednesday held that group chairman Ambani, Reliance Telecom chairman Satish Seth and Reliance Infratel chairperson Chhaya Virani breached the undertaking given to the apex court and the related orders. The Supreme Court also said that they violated its order by not paying dues of Rs 550 crore to Ericsson, adding .
Metal stocks to look up as corrective phase ends: Report
Attractive valuations may lead a rally in metal stocks, showed a technical analysis report on Wednesday.