Business & Finance

  • money 1 day 3 hours ago
    • US stocks ended higher on Monday after a big deal in the defence sector was struck.
    • Most major Asian indices rose on Tuesday ahead of the Fed’s September meeting as investors awaited clues from the central bank on future monetary policy.
    • The initial public offering (IPO) of general insurance company ICICI Lombard General Insurance Co.
    • Read more Footwear retailer Khadim India has received approval from the Securities and Exchange Board of India (Sebi) to raise an estimated Rs550650 crore through an initial public offering (IPO).
    • Domestic air traffic up nearly 16% in August Domestic air traffic rose nearly 16% in August, continuing its double digit growth, according to data released by the civil aviation regulator Directorate General of Civil Aviation (DGCA).
  • money 1 day 3 hours ago
    • Ltd (BPCL) is in talks with the country’s largest natural gas transporter GAIL (India) Ltd to acquire the government’s majority stake.
    • The move appears to be in keeping with the government’s proposal to create integrated public sector “oil major” eventually.
    • Based on Monday’s market price, the government’s 54.88% stake in GAIL is worth about Rs37,188 crore.
    • As far as GAIL is concerned, if BPCL were to acquire the government’s stake in the company, then there won’t be any significant impact.
    • The BPCL stock has performed comparatively better so far this fiscal year, going up 15% against the 6.4% rise in GAIL shares.
  • money 1 day 3 hours ago
    • Premier Explosives Ltd, which reported 24% growth in revenues, is up about 35%.
    • The standalone performance of Solar Industries, for instance, remained subdued in the June quarter.
    • Solar Industries is geographically well diversified, while Premier Explosives has gained a foothold in the defence business.
    • But barring Solar Industries and Premier Explosives, revenues from the diversification efforts of other companies are yet to emerge as a reliable hedge against the domestic industrial explosives business.
    • Even for Solar Industries and Premier Explosives one has to see how profitably they can scale up the diversification initiatives.
  • Business of Fashion 1 day 3 hours ago
    • The ghosts of Cyn and her girls insinuated themselves into Kane’s languid lingerie looks.
    • No one ever said Christopher Kane wanted to make things easy for himself.
    • What it is, is the incredible alchemy of a genuine design genius who turns banality into haunting beauty, or fearlessly courts ugliness in the name of fashion.
    • And the stocktie blouse in duchesse satin, just the sort of thing a suburban madam would don to look “saffisticated”.
    • Still, I fret for him and his frustration, because, on some level, his own clothes are becoming more performance art than fashion.
  • money 1 day 3 hours ago
    • Monthly data over the last four years from the Centre for Monitoring Indian Economy shows a declining trend in the growth rate since September.
    • That said, the midsized nonbanking financial companies have posted aggressive growth in the last 1218 months, albeit on a low base.
    • Meanwhile, large housing finance institutions like Housing Development Finance Corp.
    • Ltd and LIC Housing Finance Ltd are still optimistic on retail lending.
    • Forecasts point to 20%plus growth rate in the next two years for these large housing finance companies that gobble almost half the share of outstanding home loans.
  • money 1 day 3 hours ago
    • The revised disclosure says the founders’ stake will increase, implying KKR will sell all its shares.
    • Thus, the founders are likely to sell a lower stake of 19.5%, down by 12.1 percentage points.
    • The lower value may reflect the higher size of the put, the higher per share price paid to the founders.
    • Since Fosun’s stake cannot go higher under the automatic route, and the government may not approve a higher stake, an IPO becomes a feasible option for an exit.
    • A lower stake for Fosun can be taken as a symbolic point scored but, in the end, Fosun got everything it wanted, with a slightly lower stake being the only casualty.
  • Business 1 day 3 hours ago
    • The world's secondlargest economy will likely start manufacturing engines for jumbo jets soon, according to RollsRoyce, a longtime engine manufacturer for commercial and defense aerospace.
    • "In the longrun, it's very possible and plausible that China and other countries will be looking to develop widebody engines," said Rolls Royce Chairman Ian Davis at the Singapore Summit over the weekend.
    • "It makes sense for industrialized countries to start doing so and we assume at some stage of the future that they will come in."
    • The Shanghaibased Commercial Aircraft Corporation of China, or COMAC, has already begun the development of a narrowbody engine.
  • Moneycontrol Business News 1 day 4 hours ago
    • As market hits record highs, Sunil Singhania believes it still has a long way to go
  • Business 1 day 6 hours ago
    • Nikko is the creator of the Global Robotics Equity Fund, the first of its kind in Japan to focus on crosssectoral robotics firms.
    • The fund attracted over 300 billion yen ($2.7 billion) in inflows within three months of its August 2015 launch amid strong domestic demand, according to the company.
    • As asset managers, "we need to think of the different types of institutions and investors, such as pension funds or individuals on the street," Shibata said.
    • For fixed income, mortgage securities in Australia and New Zealand posed good opportunities as diversifiers, he added.
    • As of June 30, Nikko Asset Management has $184.1 billion total assets under management, according to the firm.
  • BBC News Business 1 day 6 hours ago
    • But the job was a scam and Mr Li was swept into the web of a gang running a pyramid scheme.
    • The tragedy, which is being investigated, sparked national outrage and has illuminated the growing problem of financial fraud and its devastating impact on communities in China.
    • Pyramid schemes are flourishing in parts of the country where education levels are low.
    • "They give the illusion to naive people that they can get rich quickly without risk," says Ms Ho, who investigates financial systems and advises on China.
    • "Pyramid schemes directly harm the market's economic order and social harmony and stability," Beijing said in a recent statement.