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Showing posts from September, 2023

DHL Express to hike prices for parcel deliveries by 6.9% from next year

Prices are adjusted on an annual basis, taking into consideration various factors, including inflation, DHL Express said. from Moneycontrol Business News https://ift.tt/5s3JiYO

Air India completes acquisition of its first A350 aircraft through GIFT City

This is also the first wide body aircraft to be leased through the GIFT City, the country#39;s first International Financial Services Centre (IFSC). from Moneycontrol Business News https://ift.tt/GHUiV0y

Unlisted companies have got a free pass for too long, it#39;s time to level the playing field

A special regulatory regime for large unlisted companies is a right step, but it should go beyond preventing malpractices and encourage more transparency too from Moneycontrol Business News https://ift.tt/hMscqiw

Anil Agarwal’s Vedanta proposes partial cash payment for bonds

Indian tycoon Anil Agarwal’s mining company is seeking to pay back a portion of the dollar bonds maturing in 2024 and 2025 in cash, with the remainder of the principal deferred for three years from the original due date, the people said, asking not to be identified because the discussions are confidential. from Moneycontrol Business News https://www.moneycontrol.com/news/business/anil-agarwal’s-vedanta-proposes-partial-cash-payment-for-bonds_17254381.html

SAIL expects four coking coal ships from Russia in September-quarter

The country#39;s largest state-owned steel producer also said the company was working on doubling coking coal production capacity in International Coal Ventures Private Limited (ICVL) at Mozambique. from Moneycontrol Business News https://ift.tt/ImSpesy

Coking coal rates pushing up steel prices in India: JSP MD Bimlendra Jha

Coking coal and iron ore are the two main raw materials used to manufacture steel. from Moneycontrol Business News https://ift.tt/QtDe6zf

Adani group appoints new auditor for UK subsidiaries

Ferguson Maidment Co audited the annual accounts that Adani Energy Holdings and its subsidiaries filed with British government agency Companies House last month, FT reported. from Moneycontrol Business News https://ift.tt/mUJNZ8V

Canara Bank raises Rs 5,000 crore at coupon rate of 7.54 % per annum

"The issue received overwhelming response from investors, with bids for more than Rs 14,180 crore against a base issue size of Rs 1,000 crore and green shoe option of Rs 4,000 crore," it said in a statement. from Moneycontrol Business News https://ift.tt/F7bayhu

Vedanta is preparing to de-merge sprawling operations

The company has informed its lenders of the restructuring and could announce the plans in the coming days, according to the people. from Moneycontrol Business News https://ift.tt/RauKtvm

Qatar Airways executive says invasive gynaecological examinations of passengers won#39;t be repeated

Australian Transport Minister Catherine King said three weeks ago that the examinations of 13 Australian women who had boarded a Qatar Airways plane to Sydney were a factor in her decision in July to refuse the Qatar government-owned airline additional flights to Australia. from Moneycontrol Business News https://ift.tt/TqvdNg0

How should start-up founders secure their rights while diluting control

As funding from financial investors progressively increases, a founder will now become its senior employee, bound by a very strict and lengthy employment contract, and this employment contract can be terminated, leaving him potentially with no role in the management of his own company from Moneycontrol Business News https://ift.tt/46vlDOw

Officials in states continue to function like licence raj days, says Maruti Suzuki chairman RC Bhargava

Speaking at an event here, the veteran industry leader noted that the central government over the last nine years has been bringing in a series of reforms and improvements in the business environment. from Moneycontrol Business News https://ift.tt/ZxqDSVs

Ambani#39;s children will get no salary, only fee for attending board meetings

While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. from Moneycontrol Business News https://ift.tt/OGFEk6u

OYO set to report maiden profit in Q2

Oravel Stays Ltd had clocked an adjusted EBITDA (Earnings Before Interest Tax Depreciation and Amortisation) of Rs 175 crore in the first quarter of financial year 2023-24 (Q1 FY24) between April-June, Agarwal had told employees in a townhall recently, sources said earlier. from Moneycontrol Business News https://ift.tt/TvSlatG

China scoops up cheap Indian iron ore in bid to trim steel costs

India will continue to sell about 3 million tons a month to global markets for rest of the year, CRU Group said. from Moneycontrol Business News https://ift.tt/FXEbujL

India one of the world#39;s most competitive aviation markets: IndiGo CEO Pieter Elbers

IndiGo is the country#39;s largest carrier with a domestic market share of more than 63 per cent and is also expanding its international operations. from Moneycontrol Business News https://ift.tt/WtPoNMc

Mercedes on track to continue record sales in 2023 amid surging demand

The carmaker, which sold 15,822 units in the Indian market in 2022, its highest ever in the country so far, anticipates the overall luxury car segment to post its best ever performance this calendar year. from Moneycontrol Business News https://ift.tt/X6OTDH2

Is a Collateral Necessary For Getting a Bike Loan?

NULL from Moneycontrol Business News https://ift.tt/5Y7vlAs

Can#39;t interfere in employment agreement between pilots, Akasa Air: DGCA to HC

The DGCA said it would be in the interest of the parties that petitioner airline, Akasa Air, complies with the mandate of the aviation regulator to maintain a limited schedule if it does not have the necessary number of pilots to maintain flight operations. from Moneycontrol Business News https://ift.tt/WXyZsDz

Ambulance service provider DIAL4242 closes $10 million seed funding round

This round was led by investors G Vamshi Raju, Starfish Ventures, and several Hyderabad-based angel investors, the company said. from Moneycontrol Business News https://ift.tt/XOGN6Us

Nomura retains negative view on Indian rupee despite JPMorgan index inclusion

The rupee had climbed to near 82.80 against the U.S. dollar following JPMorgan#39;s decision to include India in its flagship emerging market index, but it could not sustain the rally and was currently slightly weaker than what it was before the inclusion at 83.1125. from Moneycontrol Business News https://ift.tt/A5V31bg

Delta Corp: Game over or will the house win as always?

The September 22, claim by the tax department is 3.5x Delta Corp’s last closing market cap and more than double the company’s last decade’s revenue. One saving grace is that the company is debt free. from Moneycontrol Business News https://ift.tt/l2RCf3O

Capcom sees game sales in India passing those in China in decade

Key to the Osaka-based company’s strategy are securing local tie-ups to lift the profile and sales of its PC games in emerging markets and expanding its offerings of console-quality titles to smartphones, the 58-year-old executive said in an interview. India is a focus area, he said. from Moneycontrol Business News https://ift.tt/tFCSnMV

Lupin acquires five brands from Menarini

Lupin has been exclusively marketing these brands in the Indian market since July 2021 under a distribution and promotion agreement with A. Menarini India Private Limited. from Moneycontrol Business News https://ift.tt/AMXCRuO

OYO added 2,800 new corporate clients in January-July

The company in its report titled #39;OYO Business Travel Trends Report 2023#39; revealed that it recorded 20 per cent revenue growth from business travel in January-July 2023 against the year-ago period. from Moneycontrol Business News https://ift.tt/O3uH0DZ

Go First says airline#39;s revival could be derailed by lessors#39; demands

Foreign lessors have been locked in a legal tussle to repossess their aircraft after Go First was granted bankruptcy protection in May, which, as per Indian law, imposed a block on the recovery of 50-plus grounded Airbus planes. from Moneycontrol Business News https://ift.tt/eDhH7qn

Sunteck Realty, IFC set up joint platform to invest Rs 750 crore for affordable housing projects

IFC, a member of the World Bank, is the largest global development institution focused on the private sector in emerging markets. from Moneycontrol Business News https://ift.tt/YPXbLA0

Apple#39;s iPhone seen gaining market share in India as Pro model demand rises

The company is projected to account for 7% of all smartphone sales in the country from July to December, up from 5% in the first half of 2023, according to data from market researcher Counterpoint shared exclusively with Reuters. from Moneycontrol Business News https://ift.tt/HuEnUAz

Schneider Electric India lines up Rs 3,200 crore capex by 2026: CEO MD Deepak Sharma

The investments will be made in nine states, Sharma who is also the President Greater India region told PTI in an interaction. from Moneycontrol Business News https://ift.tt/wDQXqb3

Proposed Competition Regulations: A lawyer’s dream but a nightmare for businesses?

Overly restrictive regulations can stifle economic activity and undo the good done by the economic reforms of the nineties from Moneycontrol Business News https://www.moneycontrol.com/news/business/proposed-competition-regulations-a-lawyer’s-dream-butnightmare-for-businesses_17245501.html

Govt#39;s OFS in SJVN kicks off, shares skid 9% on BSE

In the 2-day offer for sale (OFS), the government is selling up to 19.33 crore shares or 4.92 per cent stake at a floor price of Rs 69/piece. from Moneycontrol Business News https://ift.tt/No4i0eU

GAIL seeks LNG cargo for October delivery

India#39;s largest gas distributor is seeking the cargo for delivery to the Dabhol terminal between October 19-31. from Moneycontrol Business News https://ift.tt/NA8hZs6

12 Best Gold IRA Companies: Reviews Comparison

We#39;ve researched and identified the best gold IRA companies to help you. Investing in gold is a good way to diversify your retirement savings. from Moneycontrol Business News https://ift.tt/j5r6NdO

Made in India VFX firm Digikore Studios set for IPO; plans to build a global base

The studio, which has worked on over 200 global projects across films and web series, plans to mop up Rs 30.47 crore through the IPO. from Moneycontrol Business News https://ift.tt/aJvpDUq

What Is a Registered Agent, and Why Is It Essential?

This post delves into the concept of a registered agent, what it means, why it’s necessary, what factors you should consider when selecting one. from Moneycontrol Business News https://ift.tt/f3riIsz

Morning Scan: All the big stories to get you started for the day

A round-up of top newspaper stories to keep you ahead of others. from Moneycontrol Business News https://ift.tt/thQB0iJ

Stalwart’s Khemani is betting on agrochemicals and agro processing companies

He sees the $60 billion global agrochemical industry maintaining its current pace of growth because of the rising population, the decline in arable land and climate-related disruptions. from Moneycontrol Business News https://www.moneycontrol.com/news/business/stalwart’s-khemani-is-bettingagrochemicalsagro-processing-companies_17243961.html

Stalwart’s Khemani is betting on agrochemical and agro processing companies

He sees the $60 billion global agrochemical industry maintaining its current pace of growth because of the rising population, the decline in arable land and climate-related disruptions. from Moneycontrol Business News https://www.moneycontrol.com/news/business/stalwart’s-khemani-is-bettingagrochemicalagro-processing-companies_17243971.html

Signature Global raises Rs 318.5 crore from anchor investors ahead of public issue

In a regulatory filing, Signature Global informed that under Anchor Investors (AIs) portion in the public issue, 82,72,700 equity shares have been subscribed at Rs 385 per equity share. from Moneycontrol Business News https://ift.tt/r7zpgyA

Brazil#39;s Ebanx expands into India in Asian market debut

The move is part of the company#39;s global expansion strategy in developing countries and comes shortly after it announced its move into three nations in Africa last year, the first outside Latin America. from Moneycontrol Business News https://ift.tt/4mjSdkg

US-based Hunting, Jindal SAW set up $25 million OCTG threading plant in Nashik

In 2019, pipe-maker Jindal Saw had partnered with Hunting to source its patented connections technology to manufacture finished seamless casing and tubing in India. from Moneycontrol Business News https://ift.tt/4c2xeTm

Thailand eyes India to boost tourism recovery after waiving visa for China

Srettha said he would make a trip to India this year with plans to meet his counterpart Narendra Modi and discuss increasing flight frequency between the two countries, including more services by flag carrier Thai Airways International Pcl. from Moneycontrol Business News https://ift.tt/mN0kfnj

NTPC mining arm to explore battery minerals overseas

The South Asian country, among the world#39;s top greenhouse gas emitters, has been pursuing pacts with other countries to secure key minerals in resource-rich countries such as Australia, Argentina and Chile. India aims to be a net zero emitter of greenhouse gases by 2070. from Moneycontrol Business News https://ift.tt/bimtf3J

From HSBC to Citi, global banks expand maternity benefits to retain women in India

Across India, global financial firms are expanding maternity benefits to include perks rarely seen elsewhere, part of an effort to attract and retain female employees. Overall, less than a quarter of adult women in India work, among the lowest rates in the world. from Moneycontrol Business News https://ift.tt/NLFolDv

KKR to acquire stake in SingTel#39;s regional data centre unit for $807 million

The deal puts the enterprise value of SingTel’s overall regional data centre business at S$5.5 billion ($4.03 billion) and the funds will be used to expand the data centre#39;s business across Southeast Asian markets, including Singapore, Indonesia and Thailand, SingTel and KKR said in a joint statement. from Moneycontrol Business News https://ift.tt/VdtLUWm

Offshore tax havens have become a vital part of global business

And just how powerful these tax havens have become can be judged by the abject failure of various efforts to reign in their powers. from Moneycontrol Business News https://ift.tt/4rmoQlO

TikTok plans steep holiday discounts in US, bringing Amazon price war

It is offering to subsidize discounts of as much as 50% to entice sellers’ participation in its Black Friday program, which begins Oct. 27 and runs through Nov. 30, according to the documents. A TikTok spokesperson confirmed the plans. from Moneycontrol Business News https://ift.tt/dAYJbjC

Morning Scan: All the big stories to get you started for the day

A round-up of top newspaper stories to keep you ahead of others. from Moneycontrol Business News https://ift.tt/c0upzZk

Cognizant liable to pay dividend distribution tax on buyback of shares worth Rs 19,000 crore: ITAT

The Income Tax Appellate Tribunal has ordered that a Rs 19,000-crore share buyback undertaken by by technology major Cognizant in 2017-18 attracts dividend distribution tax. from Moneycontrol Business News https://ift.tt/5A4fJBz

Chilli prices set to rise again on festive demand and scanty rainfall, despite improved sowing

Traders have not been selling the chilli stock at lower rates and are hoping that domestic demand will shore up the prices a little and that exports to China will improve this year. from Moneycontrol Business News https://ift.tt/8vzCoaP