Author Archives: Loknath Das

Brexit economy: workers face squeeze but firms remain upbeat

Shoppers apparently shrugged off any worries about rising prices to keep spending in April. Photograph: Luke MacGregor/Reuters The Brexit squeeze on household budgets has intensified over the past month, but companies and investors remain cautiously optimistic about the economic outlook in the run-up to the election, a Guardian analysis shows. With a fortnight to go until the general election, the ... Read More »

IMF approves loan to Mongolia to finance reforms

The IMF forecasts Mongolia’s economic output will shrink by 0.2 per cent this year after growing less than 1 percent last year. The International Monetary Fund said Thursday lenders have approved a USD 5.5 billion financing package for Mongolia to support reforms meant to revive economic growth and reduce reliance on mineral exports. The fund said it would provide $434 ... Read More »

Cipla puts biosimilar business on backburner as part of business rationalisation

Drug maker Cipla said it will stop plans to manufacture biosimilar drugs in-house as part of company-wide restructuring that involves exiting non-core and low profit businesses. “We realised that manufacturing (of biotech drugs) is not important,” said Umang Vohra, Managing Director and Global Chief Executive Officer of Cipla. “There are enough efficiencies in the biotech system outside of our own,” ... Read More »

The 3 payment banks have plans for your money

MUMBAI, MAY 24:   With three players launching their payments bank services, consumers now have more choice for their banking needs. Going by the rate of interest being offered for deposits, Airtel seems to be the most aggressive. The telecom operator’s payments bank provides the highest interest raṭe on deposits at 7.2 per cent, followed by India Post at 5.5 per ... Read More »

GST is here. Is it time to look at logistics stocks?

As the nation prepares for implementation of the goods and services tax (GST) laws, the performance at the bourses of transport and logistics companies – once considered as one of the key beneficiaries under the one nation, one tax regime – has been a mixed bag thus far in calendar year 2017 (CY17).   Five of the 10 stocks in ... Read More »

Thousands of Class 12 students will pay the price for government’s botched-up reform of marks policy

Late in April, when the Union Ministry of Human Resources Development announced that officials of 32 state and central boards of education had decided to scrap the moderation of marks – also known as the grace marks policy – from 2017, school teachers across cities felt conflicted. Most agreed that the practice had to go. It involves giving extra marks ... Read More »

Africa A Top Priority For India, Says PM Narendra Modi At African Development Bank Meet

PM Narendra Modi said India was working with US and Japan to support development in Africa. GANDHINAGAR: Prime Minister Narendra Modi on Tuesday said that Africa was a top priority for his government’s foreign and economic policy and pitched for an Asia-Africa Growth Corridor with the support of Japan. PM Modi, who officially inaugurated the 52nd Annual Meetings of the ... Read More »

Market Live: Sensex, Nifty extend gains from opening session, HCL Tech down 2%

Moneycontrol News 11:30 am Buzzing Stock: Shares of JHS Svendgaard Labs were higher by 5 percent intraday as investors cheered the conversion of warrants. The company on Tuesday converted 4,40,000 Warrants allotted on January 5, 2016 and January 8, 2016, into equivalent number of Equity Shares of face value of Rs. 10/- each, at an Issue Price of Rs. 11./- ... Read More »

Cholamandalam Investment and Finance inks pact with Mavin

Following the tie-up, Chola would reward users for using the mobile application in making EMI payments, updating KYC documents among others, a company statement said. (Reuters) Cholamandalam Investment and Finance Company, the financial services division of Murugappa group, has partnered with US-based Mavin as part of its plan to tap rural areas through digital technology. Following the tie-up, Chola would ... Read More »

Business Partner Kills Property Dealer Month After Wiping Out His Family

New Delhi: A 45-year-old property dealer was shot dead by his business partner over a financial dispute in outer Delhi’s Burari area, police said on Sunday, adding that the accused had also confessed to killing the victim’s family of five last month. Police said the victim, identified as Munnawar Hassan, was released on parole last week as his wife and ... Read More »