Author: Finance Khabar
New Delhi: Huawei introduced its first foldable phone Huawei Mate X at the Mobile World Congress last year. Now the company has launched its new foldable phone Huawei Mate XS while expanding its foldable phone lineup. This new phone has been launched with Kirin 990 5G chipset. The phone has a better cooling system than before. Apart from this, the screen, camera and overall design is almost the same as before. This phone has been launched with a price tag of € 2,499 i.e. approximately 1.80 lakh rupees. The global cell of this phone will start from next month. Huawei…
NEW YORK: The impact of growing concern around the Corona virus was seen in Wall Street here, along with the global stock markets, on Monday, when the Dow Jones Industrial Average was down nearly 800 points, or 3 percent, at the start of trading. Meanwhile, the White House economist said on Monday that the spread of the Corona virus in China will also have an impact on the US economy, although nothing can be said about the effect. Wall Street had a declining trend in early Monday. Wall Street also fell 2.8 percent, or 800 points, to 28,191.85 points in…
New Delhi: The country’s largest gas company GAIL India Ltd. It will invest Rs 1.05 lakh crore in gas-based infrastructure facilities over the next five years. The new chairman and managing director of the company, Manoj Jain, said on Monday that the amount will be invested on pipeline expansion, urban gas distribution network and petrochemical production capacity. Jain said that as per the government’s goal of increasing the share of natural gas in the country’s energy sector from 6.2 per cent to 15 per cent of the current, it would be possible to deliver this fuel to consumers in the…
New Delhi: Bharti Infratel has extended the merger deadline with Indus Towers by two months and till April 24. The company gave this information on Monday. However, the company says that the final decision on the issue will be taken by the company’s board of directors after assessing the crisis and its impact on the telecom sector. Bharti Infratel told the stock market, “The final decision on the implementation of this merger plan will be taken keeping in mind the interests of the company and the stakeholders.” At the same time, the assessment of the current crisis of the telecom…
New Delhi: Union Steel Minister Dharmendra Pradhan urged Japanese investors to come forward to invest in the country’s steel market. The Steel Minister said on Monday that the steel market here is growing rapidly and steel consumption will more than double in the coming years. Dharmesh Pradhan was speaking here at a workshop on ‘Promoting steel use for the growth of economy and preparing producers for it’. The workshop was organized by Ministry of Steel, Confederation of Indian Industry and Ministry of Economic, Trade and Industry of Japan. Pradhan also assured to provide mandatory support to investors in the event…
Mumbai: Indian stock markets fell strongly on Monday and the Sensex of the Bombay Stock Exchange plunged about 807 points. Selling pressure in the global markets also affected the domestic stock markets, amid increasing investor concerns following new cases of corona virus in China. The 30-share BSE Sensex closed at 40,363.23, down 806.89 points, or 1.96 percent. The National Stock Exchange’s Nifty also lost 251.45 points, or 2.08 percent, to close at 11,829.40. Shares of all the companies involved in the Sensex were at a loss. Tata Steel declined the most by 6.39 percent. It was followed by ONGC, Maruti,…
New Delhi: Software company Dassault Systems has appointed Deepak NG as the Managing Director of its Indian business. It is a subsidiary unit of the Dassault Group. Dassault makes Rafale fighter aircraft of the group. Deepak has 21 years of experience in various industries. He has been associated with Dassault Systems since 2011. Dassault Systems Executive Vice President Asia Pacific Samson Khao said, “India is one of the most priority markets for us in Asia. The appointment of Deepak NG will help Dassault Systems explore new growth opportunities in both the enterprise and government business sectors in India. “
Mumbai: Microsoft CEO Satya Nadella has asked Indian industry giants to build inclusive technology capacity. Nadella, who is on a three-day visit to India, said on Monday while addressing Microsoft’s ‘Future Decoded CEO Conference’, “Indian CEOs should develop their technology capabilities. Also, they should ensure that solutions are inclusive. ” He said that ‘aggregators’ have emerged during the last decade, but this is not enough. Nadella said that we have to ensure that digital transformation is productivity enhancing. He said that 72 percent of software engineers jobs in India are outside the technology industry. Addressing the same programme, Rajesh Gopinathan,…
Mumbai: Reliance Industries Chairman Mukesh Ambani has said that India is poised to become a ‘major digital society’. With this, he expressed confidence that India will soon be among the top three economies of the world. Addressing the ‘Future Decoded CEO Conference’ held on Monday on the occasion of Microsoft Chief Executive Officer (CEO) Satya Nadella’s visit to India, Ambani said that mobile network expansion is playing a major role in this major change. It is working more quickly than before. Ambani said, “It started in 2014 with the Prime Minister’s vision of Digital India. 38 crore people are now…
The relevance of large-cap mutual fund schemes has come into question due to difficulties in outperforming the benchmark index. Their underperformance has been created when bluechip stocks have generally outperformed small and mid-cap stocks. According to financial advisors, it would be better to invest in index funds based on the performance of Nifty or Sensex made of large-cap shares rather than large-cap schemes. According to data from Accord Fintech, large cap funds have outperformed their benchmark indices Sensex and Nifty over three and five year periods. In a three-year period, only 4 large-cap funds with active management out of 27…
New Delhi: Car manufacturer Maruti Suzuki has today launched its popular compact SUV 2020 Maruti Brezza in the domestic market with new petrol engine. This SUV was first introduced by the company during the Auto Expo in the past. The company has fixed the initial price of this SUV at just Rs 7.34 lakh. The new Maruti Brezza Petrol has been introduced in a total of 8 variants, while the price of its top variant has been fixed at Rs 11.40 lakh. Till now, the Maruti Brezza was available only in the market with a diesel engine, whose production company…
New Delhi: Aurobindo Pharma shares hit the lower circuit on Monday. US drug regulator USFDA canceled the “Voluntary Action Indicated (VAI)” letter for the company’s Hyderabad unit -IV. The USFDA issued this letter three days ago. The company has said that the investigation is still going on and this status may change. Aurobindo Pharma shares are trading 15.55 per cent down at Rs 506.55. On Wednesday, giant pharmaceutical company Aurobindo Pharma received a Voluntary Action Initiated (VAI) from the US Drug Regulator with an Establishment Inspection Report. The letter was issued by the regulator after finishing the investigation at Unit-4…
Riyadh: International Monetary Fund (IMF) chief Christalina Georgiwa said on Sunday that the pace of recovery in the global economy could be at risk due to corona virus infection. He said on the second day of the meeting of Finance Ministers and Governors of Central Banks of G-20 countries that the global economy grew at a rate of 2.9 percent last year. The rate was expected to improve to 3.3 percent this year. He said the projected improvement in global economic growth rate is now more fragile. Georgiva said, ‘covid-19 (corona virus), which is a global emergency for health and…
New Delhi: Vijay Shekhar Sharma, founder and CEO of digital payment company Paytm, has said that the company can turn profitable after two years. The company is now cashing in on its existing customer base and is looking forward to growth in other financial services sector in the coming years. The Noida-based company is focusing exclusively on three areas – financial services, commerce and payments. Paytm has moved ahead of demonetisation in 2016. Sharma said that Paytm has three stages of development – three years of finding the right product to suit the market, the next phase was of revenue…
New Delhi: Domestic retail giant Reliance Retail tops the 50 fastest growing retail companies in the world. Reliance Retail topped Deloitte’s ‘Global Power of Retail Sector-2020’ index for the period 2012-13 to 2017-18. Reliance is part of the Reliance group of retail industrialist Mukesh Ambani. Deloitte ranked 250 global companies based on their 2017-18 revenue statement. According to the report, Reliance Retail topped the index in 2017-18, while in 2016-17, it was sixth. While Walmart stores ranked first in the ‘Global Power of Retail Sector-2020’ index and Costco Wholesale Corp was second. While Amazon is at third place in this…
Mumbai: The April 1 deadline set for the mega merger of 10 public sector banks is fast approaching, but it seems that these deadlines may go ahead as many regulatory approvals are yet to be received. A bank official said that it may take at least 30-45 days to get the share exchange ratio, shareholders’ consent and other regulatory approvals, despite the Cabinet approval of the proposed Mahavilaya scheme. The official said that it is believed that the Prime Minister’s Office (PMO) has sought information from these banks about their financial forecasts for the next three to five years. It…
Mahindra Insurance Brokers Limited (MIBL), a premier composite insurance broking company serving small and medium enterprises and companies in rural and semi-urban areas of India, has launched ‘Partnership’. Partnership is a unique partnership program designed to identify, question and prepare a team of Certified Point of Sales Person (POSP) for distribution of insurance through physical and digital (physical) modes. The POSP model is regulated by the Insurance Regulatory and Development Authority of India (IRDAI). MIBL will strive to make the partnership more effective by leveraging its vast geographic presence in India’s rural and semi-urban markets. Through this partnership, MIBL aims…
Warren Buffett will say goodbye to Berkshire New Delhi: World-renowned successful investor Warren Buffett on Saturday said his farewell to Berkshire Hathaway. He issued his annual letter to shareholders, which stated – Berkshire Hathaway is 100 percent ready to bid farewell to him and Charlie Munger. There is a possibility that India-born Ajit Jain will take over the reins of the company. Omaha veteran investor Buffett issues letters every year. Let me tell you that Warren Buffett has been writing an annual letter to his investors for the last 40 years. Investors from all over the world are waiting for…
New Delhi: Former Reserve Bank Governor C Rangarajan has said that RBI alone cannot control inflation as supply matters need to be managed by the government. In a letter titled ‘New Monetary Policy Framework — It Means’, Rangarajan has discussed the RBI’s limits on containing inflation. “The target set for inflation should have a scope and time frame for its adjustment and it should not be too short-term,” he said. Rangarajan said, “In spite of all this, monetary policy should work regardless of the things that are going to encourage inflation. Clearly, supply management is needed in the supply related…
New Delhi: Indian Postal Service-linked bank- India Post Payment Bank (IPPB) is preparing to join Unified Payments Interface (UPI) from April to provide state-of-the-art mobile banking facility to its consumers. UPI is an instant payment system developed by National Payments Corporation of India. UPI facilitates quick money transfer between two parties’ bank accounts. A senior official of the IPPB at the Head Post Office here said that India Post Payments Bank will join the Unified Payment Interface (UPI) from April next, allowing IPPB customers to pay anyone from their account. He said that with the implementation of UPI in IPPB,…