Tag Archives: Finance

London to lose $900 billion to Frankfurt due to Brexit, German finance group claims

Boris Roessler | Picture Alliance | Getty Images The skyscrapers of Frankfurt’s banking metropolis. London is predicted to lose up to 800 billion euros ($909 billion) of assets by March next year, as banks move their business operations to other hubs before Brexit takes place. Lobby group Frankfurt Main Finance (FMF) released the figure last week, which it calculated based ... 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 »

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 »

Escalating trade battle embroils G-7 finance meet

Amid threats of imminent tariffs on metals and auto imports, escalating trade tensions between Europe and the United States were casting a shadow over a meeting of finance ministers from the world’s top economies. PHOTO: EPA-EFE [WHISTLER, Canada] Amid threats of imminent tariffs on metals and auto imports, escalating trade tensions between Europe and the United States were casting a ... Read More »

Finance Chiefs Face Fresh Crisis Worries Amid Italy Turmoil

Global finance chiefs will be back in crisis-management mode this week as the Group of Seven grapples with the market shock waves from Italy’s political woes. Finance ministers and central bankers from the G-7 nations — who oversee almost half of the global economy — begin three days of meetings at the Canadian ski resort town of Whistler, British Columbia on Thursday ... Read More »

Aye Finance claims to have disbursed 60,000 loans to MSMEs

Aye services over 50 industry clusters in India through its 73 branches, including sports goods manufacturing, hosiery, gota work, marble inlay work, amongst others BENGALURU: Gurgaon based digital lending startup Aye Finance claims to have disbursed 60,000 loans since its inception in 2014 to micro small and medium enterprises giving out a total of Rs 700 crore. “On April 2014, the company gave its ... Read More »

Buy Dewan Housing Finance; target of Rs 726: Edelweiss

Dewan Housing Finance (DHFL) ended FY18 on a positive note. AUM gathered significant momentum—rose >30% (average 20% growth over the past two years)—on the back of robust >80% YoY disbursement growth in Q4FY18. This, along with stable NIMs at 3.03%, supported revenue growth and asset quality also remained stable (GNPLs at 96bps) with coverage of 110% (105% in FY17). However, ... Read More »

Nykaa, Aye Finance raise funding; ecommerce to see higher cross-border data transfer

The Walmart-Flipkart deal, the biggest in India’s ecommerce sector so far, has thrown up a few pertinent questions on data and the privacy of around 100 million Indian online shoppers. With the two large e-tailers Amazon and Flipkart controlling a whopping 75 percent of the market, the data of a significant number of shoppers will now be subject to cross-border ... Read More »