Page 853 - Business Finance
Goldman Sachs backs U.S. construction finance tech startup Rabbet
NEW YORK (Reuters) - Goldman Sachs Group Inc has backed Rabbet, a U.S. startup that develops software to help make construction finance more efficient, the companies said on Wednesday.
Chocolatier Godiva to sell Asian-Pacific operations to MBK Partners
(Reuters) - Godiva Chocolatier, the Belgian manufacturer of gourmet chocolates, has agreed to sell parts of its Asia-Pacific business to private equity firm MBK Partners, Godiva CEO Annie Young-Scrivner told Reuters on Wednesday.
Piaggio to drive in fully electric 3-wheeler in India by mid-2019
Italian two and three-wheeler maker Piaggio Vehicles aims to launch a fully electric three-wheeler in India by the middle of this year, a top company official said Wednesday. The company, which sells small commercial vehicles (less than one-tonne load) both in cargo and passenger segments, expects to upgrade most of its products to meet BS VI emission norms by the end of this year. "India is one country which is investing more on electric mobility. We are preparing for this right in advance ...demand at the moment is not very big but we expect it to increase quite fast so we plan to introduce our fully electric three-wheeler by the middle of this year," Piaggio Vehicles MD & CEO Diego Graffi told reporters here. The three-wheeler will be developed in house with some components coming from outside suppliers, he added. While the company will be importing lithium-ion battery cells, other components like engine and battery management system would be fully localised, Graffi said. "This
Haryana Budget Session: Rs 2,000 credited in accounts of over 10 lakh farmers, Governor Arya informs Vidhan Sabha
Haryana is well on way to achieving the distinction of becoming the first state in the country to disburse first quarterly installment of Rs 2,000 to each of over 10 lakh small and marginal farmers under the newly launched Pradhan Mantri Kisan Samman Nidhi Yojana (PMKSNY), Governor Satyadeo Narain Arya informed the Vidhan Sabha on Wednesday.Delivering his address on the opening day of 5th Budget Session of the State Assembly here, Arya outlined a slew of measures taken and schemes launched by the state government to reach out to the farmers with all kinds of help and improve their economic lot, and said his government was earnestly pursuing the vision of 'Doubling Farmers' Income' as envisioned by Prime Minister Narendra Modi.Listing the steps taken, Arya said last year Haryana became the first state in the country to set up a dedicated authority for the welfare of farmers, namely, Kisan Kalyan Pradhikaran, to have electronically paid into the bank accounts of millet farmers Rs 1,950 .
TCS recognised as a global top employer
Tata Consultancy Services (TCS) has been recognised as a global top employer for the fourth consecutive year by the Top Employers institute, and is the only company among the top 10 IT services brands to receive the certification.TCS was recognised for its exceptional workplace policies, culture and continued investments in its 4.17 lakh employees across the world. ln addition to the global ranking, TCS has been certified as the number one top employer in four regions -- North America, Europe, Asia Pacific and the Middle East -- and as a top employer in 29 individual countries."TCS is guiding many of the world's leading brands through their Business 4.0 transformation journeys, and at the core of this success is our talented global workforce," said Ajoy Mukherjee, TCS Executive Vice President and Global Head for Human Resources."We have heavily invested in of culture of continuol learning and career advancement for all employees. So far, we have re-skilled and up-skilled 2.92 lakh ...
Indivior launches generic version of its Suboxone opioid drug
(Reuters) - British drugmaker Indivior Plc said on Wednesday it had launched a copycat version of its blockbuster opioid addiction drug Suboxone in the United States, just one day after a court decision cleared the way for its rivals to market generic versions of it.
Palladium breaks $1,500 level on supply woes; weak dollar lifts gold
(Reuters) - Palladium prices broke above $1,500 for the first time on Wednesday due to a prolonged supply deficit, while gold rose to a fresh 10-month high as the dollar struggled ahead of the U.S. Federal Reserve's policy meeting minutes.
Rupee spurts 23 paise to 71.11 vs USD
Snapping a four-session downturn, the rupee appreciated by 23 paise to end 71.11 against the US dollar Wednesday amid easing oil prices and a firm greenback. A positive trend in the global equity markets, which rose on optimism surrounding the ongoing US-China trade talks, also supported the rupee, analysts said. At the Interbank Foreign Exchange (forex) market, the domestic unit opened strong at 71.29 but surrendered the gains to slip to a low of 71.34. However, it clawed back lost ground and finally ended at 71.11, up 23 paise. The rupee had closed at 71.34 versus the greenback Monday. Money markets were closed Tuesday on account of Chhatrapati Shivaji Jayanti. "Rupee has broken the four days losing streak by appreciating 23 paise against the dollar. All the Asian equity markets closed on a strong wicket today, amid continued optimism that upcoming round of talks between the US and Chinese officials will take the two nations closer toward achieving a trade deal in the foreseeable ...
CCI clears Johnson Controls' power solutions biz acquisition by Brookfield, CDPQ
The Competition Commission of India (CCI) Wednesday said it has approved the USD 13.2-billion deal to acquire global power solutions business of Johnson Controls International by Brookfield and CDPQ. The deal, which was finalised in November 2018, involves selling of automotive battery-making business of Johnson Controls to Brookfield, CDPQ Fund and CDP. The CCI in a tweet said it "approves acquisition of the global power solutions business of Johnson Controls International by Brookfield and CDPQ". CDPQ Fund and CDP are wholly owned subsidiaries of Canada-based CDPQ pension fund. Both entities do not have any direct presence in India, according to the notice seeking approval to the deal. Brookfield is a leading global alternative asset manager with over USD 330 billion in assets under management, while CDPQ is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans, according to the competition watchdog. Johnson Controls is
Naya Ventures Portfolio Company Altia Systems Acquired by GN Audio for $125M
/ -- Altia Systems, based in Cupertino, California (USA), is a leading innovative developer of premium video communications solutions utilizing digital multi-camera array technology. This market is expected to grow significantly from a currently low penetration rate fuelled by easy-to-use (plug and play), integrated audio and video Unified Communications solutions. The products from Altia Systems are currently marketed under the brand PanaCast. "Altia Systems was one of the first investments we had in our first fund," said Dayakar Puskoor, Managing Partner at Naya Ventures. "It has been a great pleasure to work closely with the team and help add value to the company, from initial product growth and strategy, to this acquisition. We are extremely proud of Aurangzeb and team, and look forward to seeing continued success from our portfolio companies." "Dayakar and the Naya Ventures team have been a steady and strong partner with us in developing Altia Systems and helping propagate our ..
OYO expands international footprint with Saudi Arabia foray
Hospitality firm OYO Wednesday said it has launched operations in Saudi Arabia with signing of deals for 50 hotels having more than 3,000 rooms across seven cities. These properties will be operated under the franchise model with full inventory control similar to other markets like India and China, OYO said in a statement. The company plans to create jobs for over 5,000 Saudi citizens by 2020. It also plans to set up two OYO Skill Institutes, one in Riyadh and another in Jeddah to train Saudi graduates in hotel management, it added. OYO has also signed a memorandum of understanding (MoU) with the Public Investment Fund, Saudi Arabia, attesting to the business potential it sees in the market there, the statement said. "The company obtained its foreign investment licence from Saudi Arabian General Investment Authority (SAGIA) few months ago and plans to invest significantly in Saudi Arabia, and expand to over 17 cities across 6 provinces by 2020," SAGIA Governor Ibrahim bin Abdul ...
TerraPay Expands Footprint in Asia, Partners With Pan Asia Bank for Instant Money Transfers to Sri Lanka
/ -- Sri Lankan migrants worldwide can now send money instantly and 24*7 to any bank account in Sri Lanka TerraPay has partnered with Pan Asia Bank which enables TerraPay's network partners to make instant cross-border money transfer to all bank accounts in Sri Lanka. This means, Sri Lankan migrants worldwide through TerraPay's partner outlets/website/mobile-app can send money to their family and friends back home, instantly by transferring it to their bank account. The service is available 24X7 and even on holidays. (Logo: https://mma.prnewswire.com/media/717237/TerraPay_Logo.jpg ) (Photo: https://mma.prnewswire.com/media/824365/TerraPay_Pan_Asia_Bank.jpg ) TerraPay is a real-time, low value payments network, which connects all financial instruments globally. The company enables interoperability of mobile wallets in international, regional and domestic markets. TerraPay's interoperability engine enables customers to send and receive real-time transactions across diverse payment ...
Indian equities trade with positive bias, Sensex closes over 400 points higher
Equity indices edged higher on Wednesday following cues from other Asian stocks that rallied to four-and-a-half month highs.Virtually all sectoral indices traded in the green led by realty, energy, metal, infrastructure, pharma and FMCG scrips.The BSE S&P Sensex closed 404 points higher at 35,756 while the Nifty 50 closed 131 points up at 10,735.Shares of banking and financial stocks rose with gains witnessed in ICICI Bank, Central Bank, Indian Bank, IDBI Bank, and Canara Bank. The banking index rallied after reports said that the government may infuse over Rs 47,000 crore in 12 public sector banks in the next recapitalisation tranche.Besides, energy stocks such as Reliance Industries Ltd were among the biggest gainers.But heavy selling pressure was seen in the stocks of Anil Dhirubhai Ambani Group (ADAG) with Reliance Communications and Reliance Capital dropping as the Supreme Court held Anil Ambani guilty of contempt in the Ericsson case.Shares of IL&FS also dropped as the ..
CommonFloor hosts CommonFloor Real-Estate Excellence Awards 2019
CommonFloor, a platform that offers home seekers, sellers and real estate professionals an extensive online real estate ecosystem, today announced the felicitation of the winners at CommonFloor Real-Estate Excellence Awards 2019. The event, themed as 'Real-Estate Outlook Watch for 2019', was organized to recognize the efforts of real-estate stakeholders and use the platform to discuss the future of the industry. The event was graced by the presence of eminent personalities like Manjunath Prasad, IAS, Commissioner, BBMP - Chief Guest, HP Sudam Das, State Information Commissioner - Guest of Honour, Srinivasan, CEO, SNN Group - Guest Speaker, N Krishna Raju, KPCC Treasurer - Guest of Honour, along with Nimesh Bhandari, Business Head of CommonFloor. "The real estate industry has become very challenging and competitive, especially after government regulations like RERA have been implemented. The BBMP is continuously working towards taking effective measures to ensure ease of doing business
GST Council to meet on Sunday, consider housing relief
The GST Council, which met briefly through video-conference on Wednesday, will next be meeting on Sunday to take up real estate issues.
Sensex, Nifty rally on upbeat global stocks
Domestic stocks ended with strong gains, mirroring strength in other global stocks amid signs that US-China trade relations could be improving. Metal and mining stocks gained. Shares of index heavyweights, Reliance Industries, Infosys and HDFC Bank edged higher. The market breadth, indicating the overall health of the market, was positive. The Nifty crossed 10,700 mark in late trade.
Quick Wrap: Nifty Metal Index records a surge of 2.80%, NIFTY climbs 1.24%
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Nifty February 2019 futures at premium
Turnover in F&O segment rises
Oil dips after forecast for record U.S. shale output
LONDON (Reuters) - Crude oil futures eased on Wednesday in light of the prospect of a continued boom in U.S. shale oil output, although with OPEC determined to restrict its own production to prevent a global surplus of unused fuel, the price held just shy of 2019 highs.
Airbus opens pilot training centre in Gurugram
Global aerospace major Airbus on Wednesday opened its training centre for commercial pilots and maintenance engineers at Haryana's Gurugram in the National Capital Region (NCR).