Page 991 - Business Finance
Pak likely to sign over $ 10 bn investment deal with S Arabia during Prince Salman's visit
Pakistan and Saudi Arabia are likely to sign over USD 10 billion investment agreements, including a multibillion dollar oil refinery in Gwadar, during the upcoming visit of Crown Prince Mohammed bin Salman. So far no date has been given for the visit of the Crown Prince but he is expected to arrive on a two-day trip before the end of this week. Dawn reported that three major memorandum of understanding (MoUs) amounting to over USD 10 billion will be inked during the Saudi Prince's visit. "Three mega government-to-government MoUs will be signed and their total volume will be in double digit billion dollars, Board of Investment (BoI) Chairman Haroon Sharif told the daily. He said the three MOUs will be signed in the fields of oil refining, liquefied natural gas (LNG) and mineral development. Besides the MoUs, other business agreements are also likely to be signed between businessmen and industrialist of the two sides. A group of top 40 Saudi businessmen is accompanying Prince Mohammed. .
Indian smartphone market expands 14.5 pc in 2018: IDC
The smartphone market in India grew 14.5 per cent in 2018 with shipment of 142.3 million units, as per research firm IDC. In the previous year, shipment stood at 124.3 million units. During the December quarter, smartphone shipment expanded 19.5 per cent year-on-year to 36.3 million units from 30.3 million units in the same period the previous year, driven primarily by multiple rounds of sales by e-tailers beyond the festive Diwali period lasting into December. However, shipment numbers in December 2018 quarter were down 15.1 per cent compared to the July-September 2018 period, owing to high channel inventory. "Amongst the big highlights of 2018 were the online-focused brands that drove the share of the online channel to an (annual) all-time high of 38.4 per cent in 2018 and a whopping 42.2 per cent in Q4 2018," IDC India Associate Research Manager (Client Devices) Upasana Joshi said. She added that this was primarily driven by several rounds of discounts by e-tailers driving ...
Boeing appoints Salil Gupte as India head
US aircraft manufacturer Boeing has named Salil Gupte as its India head, effective March 18. Gupte succeeds Prat Kumar, who was appointed vice president and program manager of Boeing's F-15 fighter aircraft program in November last year. He will be based in New Delhi and report to Marc Allen, president of Boeing International, the company said in a release on Tuesday. Gupte will join as president, Boeing India, from the aircraft maker's wholly-owned subsidiary Boeing Capital Corporation, where he served as vice president, it said. "In leading the Boeing India team, Salil will build on Prat Kumar's great work of growing Boeing's business and partnerships in India and supporting the development of a thriving aerospace and defence industry for India," Allen was quoted as saying in the release. In his new position, Gupte will advance the development and execution of Boeing's strategy in India, integrate business activities across company's commercial airplanes, Boeing ...
'Long after the British have departed, India remains a work in progress'
Seven decades ago a question was posed by B.R. Ambedkar in the closing debates of the Constituent Assembly: How long shall we continue to live a life of contradictions where, in politics, the principle of one man, one vote and one vote, one value is recognised while in our social and economic life we continue to deny the principle of one man, one value? The question is still relevant today, says a new book that traces India's economic journey since Independence.
SEBI Proposes Price Bands For F&O Stocks To Curb Volatility
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US warns Europe against using Huawei
US Secretary of State Mike Pompeo warned European countries that using technology from Chinese tech giant Huawei could hurt their relationship with Washington.
Metal and mining stocks shine
Stocks gyrated in a small range in early afternoon trade. At 12:28 IST, the barometer index, the S&P BSE Sensex, was down 29.22 points or 0.08% at 36,365.81. Metal and mining stocks gained sharply.
Exclusive: Russia expects to recover far less from 'bad bank' assets - sources
MOSCOW (Reuters) - Russia will dramatically cut its estimate of the sum it expects to recover from a "bad bank" set up after the collapse of three major lenders, according to three sources familiar with new calculations being prepared for the central bank.
Indian food delivery firm Swiggy to supply home essentials
(Reuters) - Indian online food delivery service Swiggy said on Tuesday it was expanding its ambit to include home delivery of essentials such as groceries from brick-and-mortar stores.
Reliance General Insurance files for IPO, to raise Rs 200 crore
Reliance General Insurance Company Limited has filed for initial public offering (IPO) consisting a fresh issue of equity shares worth Rs 200 crore, its parent company Reliance Capital said on Tuesday.The draft red herring prospectus of Anil Ambani-led company was filed with the Securities and Exchange Board of India (SEBI) on February 8.The IPO comprises a fresh issue of equity shares aggregating up to Rs 200 crore, and an offer for sale by Reliance Capital Limited of up to 79,489,821 equity shares. The face value of each equity share is Rs 10.For this proposed IPO, the company has appointed Motilal Oswal Investment Advisors Limited, CLSA India and Credit Suisse Securities (India) as the global coordinators and book running lead managers to the issue. Haitong Securities India, IndusInd Bank Limited and YES Securities (India) Limited are the book running lead managers.Karvy Fintech Private Limited is the registrar to the offer. The IPO is subject to receipt of requisite regulatory ...
MGF poised for the next phase of growth
MGF Developments, one of India's leading real estate companies, has drawn up ambitious plans to launch commercial and residential projects in Delhi NCR.These will be the company's first steps post their demerger from the joint venture Emaar MGF. The Company is in the process of getting all required statutory approvals for the said projects.MGF Developments is promoted by Shravan Gupta, a well-known and highly respected name in the real estate sector. The erstwhile Vice-Chairman of Emaar-MGF, Mr Gupta was instrumental in bringing the largest FDI in real estate in India through the joint venture with Emaar.For inorganic and organic growth opportunities in real estate businesses the partners mutually decided to demerge in 2016. Gupta has spent long hours in the two years since the demerger on creating a synergy between his vision for MGF Developments, and the evolving Indian real estate scenario. Expanding on his future-forward vision for MGF Developments, Gupta says, "I have no doubt ...
India has signed 21 offset defence contracts worth US $ 5.67 billion in last three years: MoS for Defence Dr Bhamre
As many as 21 defence offset contracts with a cumulative value of approximately US $ 5.67 billion have been signed by the Ministry of Defence (MOD) in the last three years, the Rajya Sabha has been informed,"MOD has assigned a study through the Institute for Defence Studies and Analysis (IDSA) to ascertain the impact of offsets on Indian defence industrial base. The interim report has been received," said Minister of State (MoS) for Defence Dr Subhash Bhamre in a written reply to a question of Ritabrata Banerjee in the Rajya Sabha.An offset agreement is a type of side deal, sometimes best described as a sweetener. This is an agreement between two or more parties that provide additional benefits and is ancillary to another negotiated contract.Defence industry sector was first opened up in May 2001 for 100 per cent manufacturing by the Indian private sector including foreign direct investment (FDI) up to admissible cap both subject to licensing."Department of Industrial Policy and ...
TCS BaNCS Cloud available on Amazon Web Services
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Board of TCM authorizes acquisition of Edayar Zinc shares
At meeting held on 12 February 2019
Casino hub Macau braces for impact of slowing Chinese economy
HONG KONG (Reuters) - As the Chinese territory of Macau marks 20 years since its handover from Portuguese rule, slower mainland economic growth, a weaker yuan and a simmering trade war threaten to derail growth in the world's biggest casino hub.
Reliance Home Finance Q3 net up 37 pc at Rs 55-cr
Reliance Home Finance, part of Reliance Capital, Tuesday posted a 37.5 increase in net profit after tax at Rs 55 crore in three months ended December 31, 2018. In comparison, the company had reported a net profit after tax of Rs 40 crore in October-December quarter of 2017, Reliance Home Finance Ltd (RHFL) said in a regulatory filing to the stock exchanges. The company's total income rose by 22 per cent to Rs 516 crore in third quarter ended December 31, 2018 from Rs 424 crore in the year-ago period. "Q3 FY19 has been a good quarter for us and we continued on the path of profitable growth. RHFL has a clear focus on expanding the book along with a robust growth in the net worth, without compromising on the asset quality. "The company will continue to make valuable investments in people, processes and technology to empower the customer and enable the sustainability of the business for delivering robust shareholder returns," Reliance Home Finance ED and CEO Ravindra Sudhalkar said. The ..
DoT asks BSNL for 4G network funding details and roll out status report ahead of spectrum allocation
The Department of Telecommunications (DoT) is finalising plans for allocating 5 Mhz of 4G spectrum to BSNL shortly on 2100 Mhz band. Ahead of allocations, the department has asked the PSU to submit a plan of action on 4G service roll-out preparedness including equipment procurement and the means to fund the network upgrade.
Tata Motors Group global wholesales drop 12% January 2019
Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo range in January 2019 were at 40,886 nos., lower by 9% over January 2018.
Jindal Stainless Ltd leads gainers in 'B' group
Digjam Ltd, Motor & General Finance Ltd, Williamson Magor & Company Ltd and Cambridge Technology Enterprises Ltd are among the other gainers in the BSE's 'B' group today, 12 February 2019.
Gold steady as firmer dollar offsets growth concerns
(Reuters) - Gold prices held steady on Tuesday as investors kept a cautious stance ahead of a fresh round of Sino-U.S trade talks, while a firmer dollar capped gains for the bullion, which was drawing support from global economic slowdown worries.