Page 11 - Companies

India Ratings revises FY20 GDP forecast to 6.7% from earlier prediction of 7.3%

New Delhi, Aug 28 (ANI): Research and ratings firm India Ratings revised its growth forecast for financial year 2019-2020 to 6.7 per cent from earlier prediction of 7.3 per cent in wake of the visible economic slowdown. "The growth in consumption demand is not on the expected lines, and there are many reasons for it. But in the last few quarters, both rural and urban consumption demand took a hit, and therefore, we have downward revised our GDP forecast from 7.3 per cent to 6.7 per cent," said Sunil Kumar Sinha, Principal Economist, India Ratings.

Govt's target to double farm income by 2022 'over ambitious': India Ratings' Principal Economist

New Delhi, Aug 28 (ANI): Research and ratings agency India Ratings, which downgraded its GDP forecast for financial year 2019-2020 to 6.7 per cent from its earlier estimate of 7.3 per cent, termed government's target of doubling agriculture income by 2022 as "over ambitious". "In the last 30 years, the agriculture sector grew by 2.8 to 2.9 per cent, and now to expect the growth rate to accelerate so much that we can have the agriculture income doubled by 2022 is very difficult. Therefore, I don't think it is possible but there is no problem in government going in that direction," said Sunil Kumar Sinha, Principal Economist, India Ratings

Rupee is worst performing currency due to international reasons: Market Expert

Mumbai, Aug 26 (ANI): Rupee has become Asia's worst performing currency. Speaking on this issue Market expert, Sunil Shah said that this situation has occurred due to international reasons. Speaking to ANI, he said, "Rupee is one of the worst performing currency if you compare to the other emerging markets, but reason being that rupee was quite stable for some times and under the current scenario geo-political instability, tariff war. Safe heaven is considered to be dollar when it comes to currency. Money is moving towards dollar and emerging market currencies are all taking beating. It's an international reason not due to local reason rupee is weakening."

Budget 2019: NSEB will be set up under 'Khelo India' to popularise sports, says FM Sitharaman

New Delhi, July 05 (ANI): Union Finance Minister Nirmala Sitharaman presented the budget for 2019-2020 in the national capital today. While addressing at the Lok Sabha, Nirmala Sitharaman said, "To popularise sports at all levels, National Sports Education Board for development of sportspersons to be set up under 'Khelo India'."

Budget 2019: India has emerged as space power, time to harness space ability commercially, says FM

New Delhi, July 05 (ANI): Union Finance Minister Nirmala Sitharaman presented the budget for 2019-2020 in the national capital today. While addressing at the Lok Sabha, Nirmala Sitharaman said, "India has emerged as a major space power. It is time to harness our ability commercially. To harness India's space ability commercially, a public sector enterprise, New Space India Limited (NSIL) has been incorporated to tap the benefits of Indian Space Research Organisation (ISRO)."

Budget 2019: Govt will invest Rs 100 lakh crore in infrastructure sector, says FM Sitharaman

New Delhi, July 05 (ANI): Union Finance Minister Nirmala Sitharaman presented the budget for 2019-2020 in the national capital today. While addressing at the Lok Sabha, Nirmala Sitharaman said, "The Indian government will invest Rs 100 lakh crore in the infrastructure sector." "Government has been following policy of disinvestment in non-financial public sector undertakings, maintaining government's stake not to go below 51%. Government is considering, in case where undertaking is still to be retained in govt control, to go below 51% to an apt level on case to case basis," she added.

Budget 2019: NPAs worth Rs 4 lakh crore recovered in past 4 years, says Nirmala Sitharaman

New Delhi, July 05 (ANI): Union Finance Minister Nirmala Sitharaman presented the budget for 2019-2020 in the national capital today. While addressing at the Lok Sabha, Nirmala Sitharaman said, "Non-performing asset (NPAs) have been down by Rs 1 lakh crore in the last one year and there is recovery of Rs 4 lakh crore over the last four years in NPAs."

Budget 2019: India's sovereign external debt to GDP is among lowest, globally at less than 5%, says Sitharaman

New Delhi, July 05 (ANI): Union Finance Minister Nirmala Sitharaman presented the budget for 2019-2020 in the national capital today. While addressing at the Lok Sabha, Nirmala Sitharaman said, "Government has been following policy of disinvestment in non-financial public sector undertakings, maintaining government's stake not to go below 51%. Government is considering, in case where undertaking is still to be retained in government control, to go below 51% to an appropriate level on case to case basis." "India's sovereign external debt to Gross domestic product (GDP) is among the lowest globally at less than 5%. Government will start raising a part of its gross borrowing program in external markets in external currencies," she added.

Budget 2019: New series of coins will be made available for public use shortly, says Nirmala Sitharaman

New Delhi, July 05 (ANI): Union Finance Minister Nirmala Sitharaman presented the budget for 2019-2020 in the national capital today. While addressing at the Lok Sabha, Nirmala Sitharaman said, "A new series of coins of Rs 1, Rs 2, Rs 5, Rs 10 and Rs 20 easily identifiable to the visually impaired were released by the Prime Minister Narendra Modi on March 7, 2019. These coins will be made available for public use shortly."

Hindustan Oil Exploration to acquire Hardy Exploration and Production

Chennai, July 02 (ANI): Hindustan Oil Exploration Company (HOEC) said on Tuesday it has entered into a conditional agreement with US-based Hardy Oil and Gas to acquire the entire share capital of its Indian project office. Hardy Exploration and Production has assembled a strategic position in the oil and gas basins on the east coast of India and off the Saurashtra west coast near the Bombay High field. This has been done through asset acquisition, reserve optimisation, and development of strong working relationships since 1997. The company has also acquired development assets in the Niger Delta of Nigeria, a proven oil province. HOEC's story began in 1983 with the need for private participation in the Indian oil and gas sector. It has emerged as a fast-growing and independent exploration and production player with 10,000 barrels of oil equivalent products every day from four of the seven producing basins in India.

Once India becomes $5 trillion economy, $20 trillion target won't be difficult: Piyush Goyal

New Delhi, Jun 22 (ANI): Union Commerce and Industry Minister Piyush Goyal on Friday said that once India becomes a $5 trillion economy, then the target of $20 or $25 trillion will be a matter of time. "We are aiming to become a $5 trillion economy in next 5 yrs. Once we hit $5 trillion, my sense is that $20 or $25 trillion won't be difficult to achieve," Goyal said at an interaction with the members of Confederation of Indian Industry in Delhi. India has set a target of becoming a $5 trillion economy by 2024. Goyal said once India achieves the $5 trillion mark, then next $5 trillion will be added within six years from that time.

India to get 240 exhibition booths at SSACEIF 2019 in China: DDG Yunnan province

Kunming (China), Jun 11 (ANI): Number of enterprises from China and abroad will attend the upcoming South and South Asia Commodity Expo and Investment Fair. The exposition will be held in China's Kunming. While speaking to ANI, MA Jun, Deputy Director General of Yunnan Province, on South and South Asia Commodity Expo and Investment Fair in China said, "India is a very close partner and everybody loves Indian pavilion. This year 240 exhibition booths are for India and in terms of booths, India ranks no.1 among South Asian countries."

India needs to remove export barriers with China: Chairman, Indian Chamber of Commerce

Kunming (China), Jun 11 (ANI): Number of enterprises from China and abroad will attend the upcoming South and South Asia Commodity Expo and Investment Fair. The exposition will be held in China's Kunming. While speaking to ANI, Mahesh Saharia, Chairman of Indian Chamber of Commerce-NE in China said, "China is growing very fast. We're looking towards China. In such forums and elsewhere we need to talk about possibilities of furthering exports from India to China and removing those barriers, because our basket of goods for Chinese market is limited. So we have to find out areas where we are strong and then we'll be able to make it."

GES 2019: Netherlands embassy and US co-host pitching workshop xfor Indian entrepreneurs

New Delhi, May 29 (ANI): Netherlands embassy along with US co-hosted a pitching workshop for Indian entrepreneurs in Delhi. The aim was to prepare them to participate in the Global Entrepreneurship Summit (GES) 2019 in Netherlands' Hague. The GES 2019 will help entrepreneurs with unmatched opportunities to engage with 300+ investors. The event will see 2,000 industry-leading participants from over 120 countries in Hague, from June 3 to June 5. While speaking to ANI, Dutch Ambassador to India Marten Van Den Berg spoke on India-Netherlands relationship and collaboration. He said, "We are very happy that India has invited to be part of the summit. It's also a good elaboration for intense corporation within India and Dutch."

Per capita income of India far behind in USD: EAC Chairman

New Delhi, May 18 (ANI): While addressing the National Conference on Fiscal Policy Roadmap event which was organised by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) in the national capital on Friday, Chairman of the Economic Advisory Council to the Prime Minister (Narendra Modi) Bibek Debroy said, "The first set of very preliminary remarks are triggered by what I heard a little while ago which is about raising the productivity. The Per capita income (PCI) of India today in US dollars is about 2000 US dollars or thereabouts which is far too short of what it should be. PCI is in a way nothing but the average productivity of the citizens of a country." "It is subject ofcourse to the fact that the average productivity of the citizens of a country is in Indian rupees and when you convert it into US dollars across country purposes for comparisons it also functions what happens to the exchange rate," Debroy added. This event discussed the current challenges and prevail

'King of Fruits' mangoes hit the market in Karnataka's Shivamogga

Shivamogga (Karnataka), May 17 (ANI): Mangoes hit the market and crossed almost Rs 100 per kg in Karnataka's Shivamogga. Traders in Shivamogga are buying mangoes for Rs 30 to Rs 40 per kg. Local sellers and street vendors are selling the mangoes at Rs 100 per kg or even higher than that. Traders are busy buying different varieties of mangoes from the farmers and also from the plantation owners due to its high demand. Heat waves are continuing in the month of May and usual rain is delayed this year, which automatically extend the selling period of mangoes.

Leather industry stares at loss after being shut since Kumbh Mela

Kanpur (Uttar Pradesh), May 14 (ANI): Tannery industry has received a major hit after being shut for over 3 months. The tanneries were closed down before Kumbh Mela in January this year to provide clean water to pilgrims. The workers are returning back to their village. Tannery workers said, "Tanneries are closed, we have been terminated. We have no option but to return to our villages."

Climate change mitigation efforts could boost GDP in developing countries

New Delhi, May 01 (ANI): A new study led by the International Food Policy Research Institute (IFPRI) in Washington shows that in addition to reducing the severity and number of extreme weather events, effective climate change mitigation efforts would lower fossil fuel prices. Thus, the findings suggest reducing greenhouse gas emissions could have long-term economic benefits in low-income countries.Study claimed that the successful global efforts to significantly limit greenhouse gas emissions would likely increase the Gross Domestic Product (GDP) growth of poorer countries over the next 30 years.Study shows that beyond the benefits of reduced extreme weather in the long term, global mitigation efforts would also lower oil prices in the coming decades, resulting in a significant economic boon for poorer countries.

These are the best companies to work for in India in 2019

Walmart-owned Flipkart is the most preferred workplace in India, followed by Amazon and Oyo in the second and third places, respectively, according to a list compiled by professional social media network LinkedIn. Internet companies dominate the top 10 spots in LinkedIn's fourth edition of the '2019 Top Companies' list for India.

Financial year started with bang: Market expert after Sensex, Nifty hit record closing highs

Mumbai, Apr 16 (ANI): Market expert Sunil Shah on Tuesday shared his views on Sensex hitting record high of 39,276, Nifty near 11,800. He highlighted multiple reasons for the record like Political stability; core oil will not be very- very aggressive, stability of geo-political scenario, cooperate earning and macro numbers will keep improving. Markets today surged for the fourth straight session with both the benchmark indices -- BSE and NSE -- touching record highs amid sustained buying from foreign investors. BSE Sensex hiked 370 points to close at a new high of 39,276. The 30-share BSE index touched an all-time high of 39,364 during the late deals.