Finance

In a deepening crisis, Sri Lanka president dissolves Parliament, calls for election

Sri Lanka’s President Maithripala Sirisena dissolved Parliament and called for fresh elections amid a deepening political crisis. An official notification signed by Sirisena announced the dissolution of Parliament effective midnight Friday. It said the names of candidates will be called before Nov. 26, and the election held on Jan. 5. The new Parliament is to be convened on Jan. 17. ... Read More »

Veritas Finance gets ₹200 crore funding from Norwest, others

Private equity (PE) firm Norwest Venture Partners has led the latest round of investment of ₹200 crore into non-banking financial company (NBFC) Veritas Finance Pvt. Ltd. Existing investors of Veritas—CDC Group Plc, UK’s Development Finance Institution and P. Surendra Pai, an anchor investor—also participated in the Series D investment, Veritas said in a statement on Thursday. Veritas lends to micro, ... Read More »

Saudi Arabia says kingdom to prosecute Khashoggi killers, lauds US ties

Saudi Arabia’s Foreign Minister Adel al-Jubeir said on Saturday that those behind the killing of journalist Jamal Khashoggi would be prosecuted in the kingdom and that the investigation would take time. Jubeir told a security summit in Bahrain that Riyadh’s relations with the United States were “ironclad” amid what he described as “media hysteria” over the killing of Khashoggi at ... Read More »

Australia warned China against ‘intimidation’ in the South China Sea after a tense standoff with a US destroyer

Australia is warning Beijing not to use “intimidation or ­aggressive tactics” after a Chinese destroyer challenged a US Navy warship during a tense standoff in the South China Sea. The Chinese ship faced off with the US Navy’s Arleigh Burke-class destroyer USS Decatur on Sunday during a close encounter near Gaven Reef in the disputed Spratly Islands. US officials described the showdown as “unsafe,” claiming that the ... Read More »

Week ahead in business and finance

Monday Full-year results MJ Gleeson Trading update Dairy Crest Economics CPI (EZ) Tuesday The focus at Ocado is shifting from bagging overseas contracts to executing them. The FTSE 100 firm’s shares have surged after striking deals to supply its automated warehouses to companies in France, Canada, Sweden and the US. City analysts now expect the flow of deals to slow. ... Read More »

KNR Constructions rises 6% on sanction from bank to finance HAM project worth Rs 1,234cr

Shares of KNR Constructions rose 6.5 percent intraday Friday after company received bank sanction to finance HAM Project (Hybrid Annuity Mode) worth Rs 1,234 crore. It has touched an intraday high of Rs 213.00 and an intraday low of Rs 203.65. KNR Shankarampet Projects, a wholly owned subsidiary of company has received sanction from bank to finance its HAM project. With the ... Read More »

Regional disparities to top 15th Finance Commission’s agenda in Maharashtra

15th Finance Commission chairman N.K. Singh. Photo: HT Mumbai: Sharp regional and sectoral disparities within Maharashtra and the challenges of rapid urbanization will top the 15th Finance Commission’s Mumbai consultations from 17 to 19 September. The Commission, led by chairman N.K. Singh, held its first round of consultations with economists in Pune in August. In Mumbai, the Commission will meet representatives ... Read More »

SBI hikes retail fixed deposit (FD) rates but reduces shorter term bulk deposit rates

SBI FDs with maturity between 5 and 10 years will now fetch an interest rate of 6.85% India’s largest bank, State Bank of India or SBI, has increased interest rates retail fixed deposits or FDs, below Rs 1 crore. The revised rates came into effect from 30 July, just ahead of the RBI’s monetary policy announcement on 1 August. The higher ... Read More »

Bank FDs vs gold vs stocks: How much you would have earned

Photo: iStock Various asset classes give different returns, which is why a portfolio must have an ideal mix of investments. Here’s how four asset types have done in different periods. Click here for enlarge [“Source-livemint”] Read More »

Cracking the Code on Commercial Real Estate Loans

Financing is a big part of getting the right commercial location secured to start a small business. Here’s a few important boxes to check on where to find commercial real estate loans and how to get approved for one. Like the name implies, commercial real estate loans are a mortgage loan that applies to a commercial as opposed to a residential property. ... Read More »