Page 996 - Business Finance
IHCL takes over management of iconic Goa five star hotel
The Indian Hotels Company Ltd (IHCL) on Monday announced the takeover of the management of one of Goa's oldest and iconic five star hotels, Cidade de Goa.
Venezuela's PDVSA seeks to barter its oil with India
NEW DELHI (Reuters) - Venezuela is open to barter payment arrangements with India as it seeks workarounds to U.S. sanctions imposed in late January, Venezuelan Oil Minister Manuel Quevedo said on Monday.
Wall Street falters on prospects of another government shutdown
(Reuters) - U.S. stocks gave up early gains and were struggling for direction on Monday, as investors weighed the possibility of another partial government shutdown and trade talks between the world's two largest economies resumed in Beijing.
HAL net down 17% in Q3
State-run Hindustan Aeronautics Ltd (HAL) on Monday reported a standalone net profit of Rs 455 crore for the third quarter of 2018-19, a 17 per cent decline from Rs 549 crore in the same period a year ago.
Oil prices fall one percent; slow progress in trade talks counters OPEC cuts
NEW YORK (Reuters) - Oil prices fell about 1 percent on Monday as worries surrounding the resumption of U.S.-China trade talks overshadowed support from OPEC-led supply restraint.
Public confidence in inflation policy key to containing prices - paper
(Reuters) - Keeping the public confident inflation will be contained is key to keeping price rises contained, San Francisco Federal Reserve economists said in a paper on Monday that also suggested the unemployment level is all but irrelevant to the inflation trajectory.
Fed's Bowman says she is comfortable with policy stance
SAN DIEGO (Reuters) - In her first public remarks as a U.S. central banker, Federal Reserve Governor Michelle Bowman said she is on board with the Fed's recent pivot to a "patient" approach to monetary policy that leaves interest rates indefinitely at current levels.
Gold slips as dollar bounces on global trade jitters
(Reuters) - Gold prices edged lower on Monday as investors preferred the safety of the dollar in the face of mounting concerns that the U.S.-China trade dispute could slow global growth.
Corporators rough up Pune civic officer in Mayor's cabin
An Additional Commissioner rank officer was allegedly manhandled Monday by at least two corporators of Congress and their associates in the chamber of Pune Municipal Corporation (PMC) Mayor, following a heated exchange, police said. The provocation was an argument between additional municipal commissioner Rajendra Nimbalkar and the corporators over a tender for removing hyacinth from the Katraj and Pashan lakes in the city limits. "I had given instructions to cancel the hyacinth removal tender as it had became excessive (costwise). However, some corporators started protesting over the issue in the chamber of the Mayor (Mukta Tilak)," Nimbalkar told reporters after filing a complaint against corporators Ravindra Dhangekar and Arvind Shide, and eight to ten others under various sections of the IPC. "While I was explaining the issue, Dhangekar called municipal officers names and termed them as thieves and corrupt. I then told the mayor to control the corporators or he ...
BIS to launch online community for standards consultation
The Bureau of Indian Standards (BIS) on Monday announced the launch of an online consumer community and an online industry community for standards consultation.
Hindustan Copper Q3 net profit up by 83%
State-run Hindustan Copper on Monday reported 83 per cent increase in its net profit to Rs 34.56 crore in the quarter ended December 31, 2018 as compared to Rs 18.92 crore in the year-ago period.
Wall Street treads water, eyes on U.S.-China trade talks
(Reuters) - Wall Street struggled for direction on Monday, with investors taking a pause as the United States and China began their latest trade negotiations and U.S. lawmakers tried to reach a deal on border funding.
Altria to tap European bond market to help fund Juul stake buy
(Reuters) - Altria Group will tap the European investment grade corporate bond market to help finance its $12.8 billion purchase of a stake in e-cigarette maker Juul Labs Inc, the Marlboro maker said in a regulatory filing on Monday.
SUUTI to sell up to 3% stake in Axis Bank
The Specified Undertaking of Unit Trust of India (SUUTI) has offered to sell up to 1.98 per cent stake in Axis Bank starting at a floor price of Rs 689.52 per share, with plans to additionally sell 1.02 per cent equity shares.
Oil prices fall; slow progress in trade talks counters OPEC cuts
NEW YORK (Reuters) - Oil prices fell about $1 a barrel on Monday as worries surrounding the resumption of U.S.-China trade talks overshadowed support from OPEC-led supply restraint.
Intelligent Building plan management system launched by Ker
The Kerala government Monday launched an Intelligent Building Plan Management System (IBPMS) that provides single-point, integrated and holistic online development permissions to applicants in specified timelines for Ease of Doing Business (EODB). Industries minister E P Jayarajan launched the system at an investment meet, ASCEND Kerala 2019 here, which aims to showcase the state as a top investment destination. The new system will facilitate quick clearances and permits will now be available in 30 days of the application. The Minister also gave away certificates to four beneficiaries of Thrissur Corporation, which is the first local body in Kerala to implement this system. Additional Chief Secretary T K Jose detailed the efforts taken by the government to simplify doing business in Kerala. "Only two documents are now needed for getting a trade licence in Kerala: an identity proof and lease deed or legal occupancy certificate," he said. The governments efforts on ...
Focus: IKEA accelerates services drive as competition stiffens
STOCKHOLM/NEW YORK (Reuters) - Jessica Reznik likes IKEA's prices but not do-it-yourself. So when the Swedish furniture giant said a handyman on odd-jobs site TaskRabbit could assemble her new dresser and nightstand in her New York apartment, she jumped at the offer.
Traders protest move to ban plastic products in Puducherry
The Puducherry Plastic Manufacturers and Traders Association has appealed to the territorial government to refrain from adopting a ban on plastics from March 1, saying the move would affect several workers and throw out of gear industries functioning here. A release from the association said the government had announced its decision to impose a ban from March 1 and the move would dislocate around 30,000 workers engaged directly or indirectly and would also throw out of gear industries functioning in Puducherry. Disputing the contention of the government that plastics posed a threat to environment, the association said the proposed ban would only encourage corporate bodies having business network in Puducherry. Urging the government to constitute a high powered committee to look into the issue, it said pending availability of the report of the committee there should be no ban on the production of plastic products in the Union Territory. "The ban targets only the local ...
Time-bound quality service key to attract investors, say top
: One of the key factors to attract investors was time-bound quality service, said top officials who shared the policies and best practices of various states at a plenary session at a conference here Monday. An ambitious initiative of the Kerala government, the one-day ASCEND Kerala 2019 conclave was aimed at positioning the state as an investment hotspot by showcasing the administrative and policy measures taken to improve the Ease of Doing Business. The officials from Haryana and Telangana, besides the top bureaucrats of the home state, shared their success stories while attending a session on "Ease of Doing Business-sharing of best practices." Jayesh Ranjan, Principal Secretary (Industries), Telangana said the state has accomplished getting $21 billion in four-and-a-half years since it came into being. More than 60 per cent of the ventures, many of which are expansion investments, had reached the stage of commercial production, he said, adding that state had received
Mobile wallet transactions increased 40 times in India in five years: Gulshan Rai
Mobile wallet transactions in India have increased 40 times in the past five years and every service provider in the world is eyeing Indian market for it, National Cyber Security Coordinator in the PMO Gulshan Rai said Moday. Delivering a lecture on "Digital Disruptions in India", Rai, a noted cyber security expert, said India was one the most advanced countries in the world in terms of expanding mobile wallet payment on a larger scale. Rai said the digital economy in India was growing 1.5 times faster than the global average. "Mobile wallet transactions have increased 40 times in the last five years. Every technology provider in the world is looking for the Indian market for the mobile wallet payment. We are one of those countries who are much advanced in terms of including mobile wallet payment on a larger scale," he said. "Today the digital economy is around 15 per cent of the global GDP. In India, it is about 8 per cent of the GDP and is likely to increase up to 30 per cent of the