Bank of India hoping to recover around Rs 2,500 crore in 2-3 quarters: Official
The recovery would be around Rs 2,500 crore from the eight to 10 big accounts, the official said.
Credit demand subdued, economy needs stimulus, says SBI chief Rajnish Kumar
Though lack of credit demand exists in the economy, there is no supply-side constraint as the public sector banks are more or less well-capitalised, he said.
Coffee Day may restart stake sale talks with Coke
Coca-Cola is trying to get a significant foothold in the fast-growing cafe space as its core carbonated drinks segment is seeing a slump in consumption.
Infosys sees a jump in cloud services as company ties up with biggies
The Bengaluru-based IT services provider is betting on this growth to drive digital services.
Sebi rejects Icra’s settlement application in IL&FS case
There was also an abrupt downgrade in the ratings of bonds sold by IL&FS.
DHFL lenders arrive at 3-level resolution plan
Banks have a collective Rs 35,000-crore exposure to DHFL through loans.
Iran says US move on north Syria safe zone is ‘provocative’
The United States and Turkey last week agreed to set up a joint operations centre for a proposed zone along Syria’s northeast border.
UK minister Michael Gove: No-deal Brexit will mean ‘bumps in the road’
Britain will experience “bumps in the road” if it leaves the European Union without a deal, but is more prepared for that outcome than it previously was, Michael Gove, the minister in charge of coordinating ‘no-deal’ Brexit planning, said on Sunday.
China warns Canada to stop meddling in Hong Kong
Canada and the EU issued a joint statement on Saturday saying the right of peaceful assembly is enshrined in basic law in Hong Kong.
Bajaj Auto hikes stake in holding company, invests Rs 1,200 crore in six months
The secondary market has seen a significant spike in interest for BHIL shares thanks to the buying spree of Bajaj Auto.
‘Tiananmen Square’ crackdown in Hong Kong would harm trade deal: Donald Trump
Hong Kong has been roiled by protests for more than two months and on Sunday hundreds of thousands of democracy activists had marched.
The economy will only look up from here on: Rahul Shukla, HDFC Bank
We have a consumption issue which will pick up as we go along in the second half.
Tim Cook “Made A Good Case” That Tariffs Could Hurt Apple: Donald Trump
Tariffs on an additional $300 billion worth of Chinese goods, including consumer electronics, are scheduled to go into effect in two stages on September 1 and December 15.
US President Donald Trump does not want to do business with China’s Huawei
Reuters and other media outlets reported on Friday that the U.S. Commerce Department is expected to extend a reprieve given to Huawei Technologies Co Ltd that permits the Chinese firm to buy supplies from U.S. companies so that it can service existing customers.
Apple CEO Tim Cook warns Trump about China tariffs, Samsung competition
Trump said Cook
Donald Trump says he will likely release Middle east peace plan after Israel elections
Kushner, Trump’s son-in-law, is the main architect of a proposed $50 billion economic development plan for the Palestinians, Jordan, Egypt and Lebanon that is designed to create peace in the region.
Make in India is yet to create enough jobs, says L&T’s AM Naik.
Saudi Arabia makes a promise that it can’t keep
The Russians pumped 11.32 million barrels a day in the first half of August, according to Interfax.
Analysts downgrade FY20 earnings estimates after poor Q1 show, Citi cuts Sensex target
Citi also said earnings miss was big in Q1 across most sectors with BSE100 earnings falling 1 percent YoY in Q1.
US economists expect recession in 2020 or 2021: Survey
The National Association for Business Economists found far fewer experts now think the next recession will start this year compared to a survey in February.
Pennar Industries bags order worth Rs 538 cr during the
months of June and July 2019 across its business verticals
Uber Appoints Melinda Roylett As New UK Head
Melinda Roylett begins in her role on Monday, replacing Tom Elvidge, who moved to co-working space firm WeWork earlier this year.
ISRO to inject Chandrayaan2 into lunar orbit on August 20
In a significant milestone for India’s Moon mission, ISRO will fire Chandrayaan2’s liquid engine on Tuesday to insert the spacecraft into a lunar orbit.
Uber appoints new UK boss as London licence renewal nears
Transport for London (TfL) rejected the Silicon Valley company’s licence renewal request in 2017 due to failings it said it found in its approach to reporting serious criminal offences and driver background checks, prompting court action.
SEBI to ease buyback norms for companies with housing finance, NBFC arms
According to top officials, a proposal in this regard is expected to be discussed by SEBI’s board at its meeting this week.
Important To Look At Financial Stability With Growth: Shaktikanta Das
RBI Governor Shaktikanta Das said he expected banks to move quicker on linking the lending rates with the central bank’s repo rate towards better transmission to support consumption and demand.
Growth a matter highest priority for RBI at this juncture: Shaktikanta Das
“The pursuit of financial stability has always been a policy priority in India.”
IL&FS scam: ED summons Raj Thackeray, Manohar Joshi’s son
The investigation agency is probing alleged irregularities relating to loans and equity investment worth over Rs 450 crore by IL&FS group in Kohinoor CTNL Infrastructure Co.
Indian companies at a disadvantage in tenders, says Commerce ministry
The matter is now being investigated by the Central Vigilance Commission (CVC).
PE-VC investment zooms to all-time high of $8.3 billion in July
Strong investment activity in infra and real estate asset classes drove the overall tally.
Ujjivan Small Finance Bank Files For Rs 1,200-Crore IPO
Ujjivan Small Finance Bank Limited has proposed an initial public offer (IPO) worth Rs 1,200 crore, its promoter Ujjivan Financial Services Limited said on Friday.
RBI Considers Linking Some New Bank Loans To Benchmark Rate
Commercial banks cite high deposit rates for their inability to cut loan ones. Marginal reductions restrict how much borrowers benefit from the repo cuts.
Axis Bank Reduces Key Lending Rates Across All Tenors
Axis Bank has reduced its MCLR or marginal cost of funds-based lending rates by up to 10 basis points or 0.10 percentage point.
Auto Component Makers Declare Non-Working Days Amid Slowdown
Last week, an estimated 3.5 lakh people were estimated to have lost their jobs due to the slowdown in the auto sector.
ANZ Lowers India Growth Forecast To 6.2% In 2019-20
The forecasts all badly lag the government’s longer-term target of getting the economy humming at rates above 8 per cent.
Goa Mining Crisis: Home Minister AmitShah To Visit Goa On August 22 Shah To Meet Goa CM Pramod Sawant, Discuss Mining Crisis Supreme Court Cancelled 88 Mining Leases In March, 2018
Vodafone Idea Names Ravinder Takkar As CEO
Ravinder Takkar has been appointed for three years effective August 19.
India’s Hiring Slows Down As Economy Cools: Care Ratings Study
Total employment increased from 5.44 million as of March 2017 to 5.78 million in 2018, which is an increase of 6.2 per cent, according to the Care.
Corporate Tax To Be Cut Gradually: Nirmala Sitharaman
In her Budget speech, Finance Minister had cut corporate tax for companies with annual turnover of up to Rs 400 crore to 25% from 30% earlier.
Reliance Industries’ Aramco Deal To Lower Its FY21 Earnings: Report
RIL plans to sell a 20 per cent stake at an enterprise value of $75 billion. It will also source 500 kbpd of oil from Saudi Aramco.
Government Exempts Shadow Lenders From Debenture Reserve Requirements
The non-banking finance companies have been battling a credit crunch since IL&FS collapsed in late 2018 amid fraud allegations.
DHFL defaults on Rs 1,571 crore bond payments
Overall Auto Retail Sales Down 6% In July: Industry Body
The data also showed that retail sales of passenger vehicles were lower by 11 per cent on a year-on-year basis.