Page 872 - Business Finance
Russian arrests of foreign businessmen shocks Western investors
The arrest in Russia of prominent US and French investors on suspicion of fraud has sent shockwaves through Western business circles and sparked fears of cutbacks in foreign investment sorely needed for economic growth. The founder and employees of the Baring Vostok private equity firm were arrested on Friday in a case brought with the help of the FSB security service. The arrest took place on the same day Russia hosted leading business people in the Black Sea resort of Sochi for a major economic forum which trumpeted the country's openness to investment. Michael Calvey, a US citizen and the founder and director of Baring Vostok, has been placed in pre-trial detention in a Moscow jail for the next two months for alleged fraud, along with five others - including Philippe Delpal, a French citizen. They are accused of defrauding Vostochny Bank of at least 2.5 billion rubles (USD 37.7 million). All of them deny any wrongdoing and blame the case on a shareholder dispute. In an opinion ...
Emami Ltd leads gainers in 'A' group
Welspun Corp Ltd, Prestige Estates Projects Ltd, Inox Leisure Ltd and Shankara Building Products Ltd are among the other gainers in the BSE's 'A' group today, 19 February 2019.
Smart investment moves for FY 2019-20
With the new financial year just around the corner, investment planning is at the back of the mind of most individuals. As a rule, your investment returns heavily depend on the economic conditions and the fluctuations in repo rate. It is hence, important to take into consideration that on 7 February 2019, as a part of the bi-monthly monetary policy declaration, the RBI has announced a reduction in the repo rate by 25 bps (basis points). With immediate effect, the rate has now dropped from 6.5% to 6.25%.With this dip in the repo rate, there may be an impact on borrowing costs as well. Though your joy as a borrower may be boundless, you may need to plan your investments carefully, as a fixed deposit investor. This is because instruments like FDs are already offering high-interest returns that may face revision once the external benchmark system comes into action.Given the economic climate, you can still overcome fluctuations in interest rates and multiply your savings, by adopting the ..
Australia watchdog plans criminal claims on financial sector after inquiry rap
SYDNEY (Reuters) - Australia's corporate regulator, which was criticised heavily by a misconduct inquiry for being soft on the financial industry, said on Tuesday it expects to refer major financial institutions and their representatives for criminal prosecutions.
Sensex, Nifty follow Asian peers higher; ICICI Bank top boost
(Reuters) - The Sensex and Nifty rose on Tuesday, bolstered by gains in broader Asian markets amid optimism around Sino-U.S. trade talks and on expectations of stimulus measures from major central banks.
HSBC profit disappoints as China, Britain weakness poses challenge
HONG KONG/LONDON (Reuters) - HSBC Holdings Plc posted a disappointing profit growth as higher costs and a stocks rout took a toll on business, while cautioning that a weaker economic outlook for China and Britain would throw up further hurdles this year.
Equities open flat but gain some ground in early trading on Asian cues
Benchmark indices opened on a flat note but gained some ground on Tuesday after mirroring trends in Asian markets.At 11:20 am, the BSE Sensex was up 142 points at 35,641 while the Nifty 50 was trading 37 points higher at 10,681.Shares of Emami jumped 2.5 per cent in the morning trade after reports that the promoters -- Agarwal and Goenka families -- have sold 10 per cent of their stakes for Rs 1,600 crore to trim debts of group companies like Emami Cement, Emami Power and others.63 Moons Technologies, earlier known as Financial Technologies Group, rose 8 per cent after the announcement that the company has filed a lawsuit against former Finance Minister P Chidambaram and two bureaucrats in the NSEL case.Ambuja Cements advanced marginally after the company reported revenue of Rs 2,863 crore during third quarter of 2018-19.Yes Bank, Dr Reddy Labs, Sun Pharma and ICICI Bank were trading higher on the National Stock Exchange while Indiabulls Housing Finance, Infosys, and Wipro were ...
Asian shares flirt with four-month highs, yen eases on Kuroda comments
SYDNEY/TOKYO (Reuters) - Asian shares hovered near four-month highs on Tuesday as investors took heart from some progress in Sino-U.S. trade talks, while the yen slipped as the Japanese central bank said it won't rule out further policy easing.
Mexico pushes mobile payments to help unbanked consumers ditch cash
MEXICO CITY/NEW YORK (Reuters) - Mexico's new leftist government is betting on financial technology to help lift people out of poverty.
Future Consumer gains after entering into arrangement
Future Consumer rose 2.18% to Rs 44.60 at 11:06 IST on BSE after the company said it is entering into an arrangement with the Middle East's leading chain of retail supermarkets, T Choithrams & Sons.
Market trims gains; auto shares in demand
The market came off day's high in mid-morning trade. At 11:20 IST, the barometer index, the S&P BSE Sensex, was up 140.43 points or 0.40% at 35,638.87. The Nifty 50 index was up 37.10 points or 0.35% at 10,678.05.
China pledges more support for banks' perpetual bonds to boost lending
BEIJING (Reuters) - China will provide further support for banks' perpetual bond issuance, including examining ways to broaden the investor base for such bonds, to help boost lending in the economy, a vice central bank governor said on Tuesday.
Volumes spurt at Prestige Estates Projects Ltd counter
Prestige Estates Projects Ltd notched up volume of 42991 shares by 10:48 IST on BSE, a 12.32 fold spurt over two-week average daily volume of 3491 shares
Intellect Design Arena partners with Bahrain's BBK
To implement digital transformation of BBK's transaction banking business
Kuroda says BOJ ready to ease if yen rise hurts price goal path
TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Tuesday the central bank was ready to ramp up stimulus if sharp yen rises hurt the economy and derail the path towards achieving its 2 percent inflation target.
Strong market breadth
Key equity indices were trading higher after hitting fresh intraday high in morning trade. At 10:25 IST, the barometer index, the S&P BSE Sensex, was up 170.28 points or 0.48% at 35,668.72. The Nifty 50 index was up 45.60 points or 0.43% at 10,686.55.
Vitamin maker Blackmores sounds alarm on China demand health, shares hammered
SYDNEY (Reuters) - Australian vitamin maker Blackmores Ltd said it would review its China business and issued a surprise profit warning, citing soft consumer demand on the mainland, sending its shares down the most since listing three decades ago.
HSBC's 2018 profit misses estimates; China weakness poses growth risks
HONG KONG/LONDON (Reuters) - HSBC Holdings Plc posted on Tuesday a 15.9 percent rise in 2018 profit, supported by business growth in its core markets of Asia and Britain, but market weakness in the fourth quarter resulted in the bank missing street estimates.
China needs tax cuts to relieve pressure on economy - vice premier
SHANGHAI (Reuters) - China's decision to cut company taxes and fees is an important part of fiscal policy and is a hard-hitting measure needed to cope with pressure on the economy, state media reported Vice Premier Han Zheng as saying.
Cirium, the Data and Analytics Company Shaping the Future of Travel, Says it Analyzes Over 70 Million Passenger Journeys and US$ 5 Trillion Worth of Aircraft Assets Each Year for Essential Market Insi
/ -- Cirium has been created to be the global leader in data and analytics in the wider travel industry It provides solutions across the ecosphere of travel to help drive greater efficiency and profitability The need for accurate insights to help shape the future of travel is underlined today with the launch of Cirium, designed to be the leader in data and analytics within aviation and the wider travel industry. (Logo: https://mma.prnewswire.com/media/823101/Cirium_Logo.jpg ) (Photo: https://mma.prnewswire.com/media/823102/Cirium.jpg ) Cirium's experts analyze millions of data sets each year to help airlines, airports, governments, metasearch, travel management companies and financial institutions to predict future market demand and make informed decisions about their business strategies. Several economic forecasts are suggesting that average GDP growth in 2019, will be between 2-3%. With aviation closely linked to global GDP growth, such businesses need well informed insights to ...