Business Category

Posted On August 20, 2016By telanganaIn Business

Meeting 4% inflation target unlikely in near-term

The government recently set an inflation target of 4% for the next five years with a margin of 2% on the up- and down-side. In July, both wholesale and retail inflation were at a two-year high of 3.55% and 6.07%, respectively, mainly led by a rise in food prices in the country, which has been on the uptick for a few months now. Wholesale food articles inflation rose to 11.82% in July compared to 8.18% in June. Retail food inflation in the month grew to 8.35%, up from 7.79% inRead More
As the exit date of Reserve Bank of India (RBI) governor, Rahuram Rajan, nears (4 September), everyone has their fingers crossed and toes twisted.  But the large fan following Rajan has (for all right reasons) or the doomsday predictions that followed governor’s announcement in June not to take up a second term at RBI, never seems to influence the top brass of Narendra Modi government, or a deliberate caution is being exercised by both the Prime Minister and Finance Minister, to show the world that is the case indeed. True,Read More
The Service Tax Department has received a bid of Rs 26.5 crore in the e-auction of the Vijay Mallya’s luxury jetAirbus 319 in Mumbai. This was the second attempt from the service tax department to auction the Mallya jet closed on August 19. The reserve price was kept Rs 152 crore same as it was in the first auction. Two bidders participated in this bid are SGI Commex Ltd, a Mumbai-based company into Manufacturing of Metals & Chemicals & and UAE- based aviation support company Alna Aero Distribution and FinancialRead More
The yen gained traction against its peers during Asian morning trade Thursday, rising above the ¥100 — line versus the dollar again, on the Federal Reserve’s cautious stance in raising rates and weakness in Tokyo stocks prompting buying of the Japanese currency. The greenback USDJPY, -0.19%  fell to as low as ¥99.64 earlier in the session, coming close to ¥99.55 set on Tuesday — the lowest level since the U.K.’s decision to leave the European Union in late June. The U.S. currency rose back above the ¥100 — threshold, changingRead More
Moody’s Investors Service on Thursday retained India’s growth forecast at 7.5 per cent for 2016 but revised upwards estimates for China to 6.6 per cent citing strong fiscal and monetary support. In its latest assessment of the global economy, Moody’s Investors Service said the outlook for emerging markets economies has stabilised but outlined the policy changes post the US presidential election in November as the most immediate downside risks to the global economic outlook. Moody’s now expects China to grow at the rate of 6.6 per cent and 6.3 perRead More

Posted On August 18, 2016By telanganaIn Business

Singtel Pumps $1.8 Billion InTo Thai

Singapore: Singapore Telecommunications is investing S$2.47 billion ($1.8 billion) for bigger slices of the top mobile operators of Thailand and India, as Southeast Asia’s largest telecoms firm raises its bet on emerging markets to spur growth. Singtel said on Thursday it is buying 21 percent of Thai telecoms firm Intouch Holdings PCL for S$1.59 billion and 7.39 percent of India’s Bharti Telecom for S$884 million. The stakes are being bought from Singapore state investor Temasek, which owns more than half of Singtel. Intouch is the largest shareholder in Advanced InfoRead More

Posted On August 18, 2016By telanganaIn Business

Conditions could ‘soon warrant’ a rate hike

WASHINGTON — Federal Reserve officials believed last month that near-term risks to the U.S. economy had subsided and that an interest rate increase could soon be warranted. But they did not indicate when they would likely raise rates. The minutes of their July 26-27 meeting, released Wednesday, show that officials were encouraged by a rebound in job growth. They also took note of a stabilization of financial markets after a bout of turbulence triggered by Britain’s June 23 vote to leave the European Union. The Fed officials believed those developmentsRead More

Posted On August 18, 2016By telanganaIn Business

slimmer chances of a listing pop: RBL Bank IPO

Stocks that debuted on the bourses from the financial services sector this year have already hit a jackpot. Take for instance, Equitas Holdings Ltd and Ujjivan Financial Services Ltd. The stocks of Equitas and Ujjivan have moved up by a mouth-watering 59% and 108%, respectively, from their issue prices. Naturally then, there will be a fair bit of anticipation for the forthcoming initial share sale of RBL Bank Ltd. Will the RBL Bank initial public offering (IPO) be as successful? What works in the bank’s favour is the strong managementRead More