Page 866 - Business Finance
Sachin Bansal invests Rs 650 crore in Ola
Internet entrepreneur and Flipkart co-founder Sachin Bansal has invested Rs 650 crore, or about $92 million, in ride-hailing platform Ola in his personal capacity as investor, the company said in a statement on Tuesday.
Global Markets: Tariff nerves wilt stocks, Swedish crown savaged by inflation slowdown
LONDON (Reuters) - U.S. car tariff worries shunted Europe's stocks off a four-month high on Tuesday, while Sweden's crown was savaged by a slowdown in inflation less than two months after its central bank had dared to raise interest rates for the first time in seven years.
Palladium at record high, closes in on $1,500; gold gains
(Reuters) - Palladium hit a record high on Tuesday, moving close to $1,500, due to a prolonged supply deficit, while gold rose to a near 10-month high driven by concerns over slowing global growth.
Oil hovers below 2019 highs on OPEC cuts, trade talks in focus
LONDON (Reuters) - Oil was close to its 2019 high of almost $67 a barrel on Tuesday, supported by OPEC-led supply cuts although gains were capped by concerns about slowing economic growth that could hit demand.
Estonia shuts Danske Bank branch at heart of money laundering saga
TALLINN/LONDON (Reuters) - Estonia ordered Danske Bank to close its local branch within months on Tuesday, as Estonian and Danish regulators faced an EU inquiry into their efforts to prevent one of the largest-ever money laundering scandals.
Singh will dedicate third unit of BRBCL on Wednesday
Union Power Minister R K Singh will dedicate the third 250 MW unit of Bhartiya Rail Bijlee Corporation Ltd (BRBCL) at Nabinagar in Aurangabad district on Wednesday, officials said Tuesday. BRBCL is a joint-venture of NTPC and Indian Railways with NTPC having 74 per cent stake while the remaining 26 per cent is with Railways. The BRBCL has four units - each of 250 MW at its plant located at Barun village in Nabinagar of Aurangabad district. Indian Railways and Bihar will get respectively 90 and 10 per cent of the total power generated from each unit of BRBCL. Of the four units, two units - one each of 250 MW- are currently operational while the commercial declaration of third unit of 250 MW will take place Wednesay in the presence of the Union Power minister, NTPC Manager (Corporate Communication) Vishwanath Chandan said. The fourth unit of 250 MW of BRBCL is likely to commissioned by December this year, official sources said. Singh, who is a Lok Sabha member from Ara ...
Thomas Cook India witnesses a 35% surge in bookings for Japan
With India's new age travellers displaying increasing appetite for new, unique destinations and enriching experiences, Japan has been emerging strongly as a forerunner. Hence in a focussed initiative to tap into this underleveraged potential, Thomas Cook had launched a range of Japan Sakura tours across group escorted tours, customised programmes and luxury bespoke itineraries; and this year has seen significant uptake from metro cities like Mumbai and Bengaluru (growth of over 40%), as also mini metros/Tier cities like Visakhapatnam, Lucknow, Indore, Pune, Rajkot, Trichy, Jaipur, Chandigarh, Madurai, Mangalore, Ludhiana (growth of approx 50%).
PM distributes 1,000 electric pottery wheels among Kumhars: KVIC
Prime Minister Narendra Modi Tuesday distributed 1,000 electric pottery wheels along with other pottery equipment among the potters in Varanasi, Uttar Pradesh, said the Khadi and Village Industries Commission. The Khadi and Village Industries Commission (KVIC) under its Kumhar Sashaktikaran Yojana has identified another 1,000 potters in Varanasi for distribution of electric pottery wheels, pug-mills and blungers. In a statement, KVIC said the training of those 1,000 has already been completed. These 1,000 electric pottery wheels, 100 pug-mills and 100 blungers will create direct employments for 4,800 persons in the Varanasi region as each machine provides direct jobs to four persons. "Since Varanasi and surrounding areas have a significant number of Kumhar people, the demand for more electric pottery wheels has come in a big way after its distribution by the prime minister," KVIC Chairman Vinai Kumar Saxena said. According to him, KVIC had requested the Railways to make the use of ...
Can begin 5G trial within a month of Indian government's nod: Huawei
Amid reports suggesting that Huawei may not get the government's approval for 5G trial in India, Huawei India CEO Jay Chen on Tuesday dismissed the reports as wild speculation and stressed that the Chinese tech giant can begin 5G trial within a month of approval from the government.
India exempts small firms from angel tax to promote business
NEW DELHI (Reuters) - India eased taxes for some new businesses on Tuesday, bowing to pressure to exempt them from an "angel tax" on funds they have raised, in an attempt to boost investments and jobs.
Ramco ERP Drives Digital Transformation at PT. Cipta Krida Bahari (CKB Logistics)
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63moons filing Rs 10000 cr damage suits against Chidambaram, K P Krishnan and Ramesh Abhishek
Despite the fact that there is no money trail traced to NSEL, 63 moons and its founder, by multiple investigative agencies, the group has been singularly targeted as part of a conspiracy. On account of these malicious actions perpetrated against the company, a damage of Rs 10,000 crore has been caused to its shareholders.
Indag Rubber intimates of conversion of subsidiary into JV
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TCS partners with Nanoheal to provide device management solutions
TCS and Nanoheal will partner to deliver solutions that combine TCS' expertise in managing workspaces with deep delivery capabilities, across leading organization-wide transformations, with Nanoheal's automated, proactive, self-healing device platform to ensure a seamless, error-free enterprise workspace.
SpiceJet to commence 12 new domestic flight services
Budget passenger carrier SpiceJet will commence 12 new direct flights on its domestic network, starting March 31, 2019.
USD 2 mn investment earmarked under India Innovation Growth Programme
An investment of USD 2 million in social and industrial innovations has been announced on Tuesday under the India Innovation Growth Programme 2.0. The programme has been established by the Department of Science and Technology, Government of India, Lockheed Martin Corporation and Tata Trusts. The 2019 edition of the programme, launched in Guwahati on Tuesday, is aimed at accelerating indigenous innovations through incubation of affordable, accessible and acceptable solutions. Commenting on the programme, Anita Gupta, adviser and associate programme head of innovation, entrepreneurship, Department of Science and Technology, said with the government's commitment towards building a young start-up nation, India is rightly poised to drive the next entrepreneurship wave. "To ensure success, a conducive ecosystem is needed that not only nurtures creativity and innovation but also provides market opportunities to the new genre of entrepreneurs," she said in a statement. She further said it is .
Finance Commission holds meetings with Telangana Government
Commission appreciates Telangana for being first state to be able to provide drinking water to every household under Mission Bhagiratha
India's solar capacity at 28 GW at December-end, says Bridge To India report
The country's total solar power generation capacity, including 3.85 gigawatt (GW) rooftops, stood at 28.05 GW while 17.65 GW was under implementation as on December 31, 2018, according to a report by Bridge To India (BTI). The quarterly market report, titled 'India Solar Compass Q4 2018', gives a detailed analysis of capacity addition, tender issuance, market players, price trends for the past quarter and the whole year 2018. India's total solar installed capacity and pipeline stood at 28,057 MW and 17,658 MW as on December 31, 2018, according to the report. This capacity is split between utility scale and rooftop solar as 24,202 MW and 3,855 MW, respectively. It said only 1,446 MW capacity was added in the October-December 2018 period, 990 MW in utility scale solar and 456 MW in rooftop solar. The utility scale solar capacity addition has been sluggish since the second quarter ended June 30, 2018, and is down 46 per cent over the fourth quarter of 2017. In contrast, the rooftop solar
Board of TCI Industries allots 1250 preference shares to ABC India
At meeting held on 19 February 2019
JK Tyre & Industries appoints Sanjeev Aggarwal as CFO
JK Tyre and lndustries Ltd Tuesday said it has appointed Sanjeev Aggarwal as its chief financial officer (CFO). Aggarwal took over with effect from Monday in place of Ashok Kumar Kinra who has "ceased to be the CFO in the normal course after a long tenure", the company said in a regulatory filing. Kinra will, however, continue to be with the company as a financial advisor, it added. JK Tyre and lndustries further said Aggarwal, a chartered accountant has over 27 years of experience in finance and related functions across various sectors in large corporates.