Business

29 Feb

Sensex Plunges 1,448 Points, Nifty Holds 11,200 As Coronavirus Rattles Markets

nebm0 CommentsBusiness

Domestic stock markets slumped more than 3 per cent on Friday continuing their downward spiral for the sixth session in a row, as fears the coronavirus outbreak may trigger recession across major economies spooked their global peers. Hopes the coronavirus would be contained to China vanished on Friday as infections spread rapidly around the world, compelling countries to stockpile medical equipment and investors to take flight in expectation of a global recession. The S&P BSE Sensex ended at 38,297.29, lower by 1448.37 points - or 3.64 per cent - from its previous close, and the Nifty shut shop down 431.55…

29 Feb

Nirmala Sitharaman Sees 4.7% GDP Growth As ‘Steadiness’ In Economy

nebm0 CommentsBusiness

Finance Minister Nirmala Sitharaman on Friday termed the 4.7 per cent GDP growth of Q3 as "steadiness" in the economy and a good sign, soon after the official figures for the December quarter were released.She also made it clear that she was not expecting a jump in the number, nor a decline.The Finance Minister was speaking at an award function of a private TV channel.

27 Feb

Australian Resources Delegation explores opportunities in Eastern India

nebm0 CommentsBusiness

A 16 member Australian Resources delegation is currently in Kolkata as a part of Australia-India Business Exchange 2020 (AIB-X). The delegation is exploring collaboration opportunities with the Indian mining industry in Eastern India. Panel Discussion on India’s Mining Industry Coinciding with the visit of the Australian Resources delegation, a panel discussion titled “India’s mining industry – Targets, Reforms and Roadmaps” was organised in Kolkata today by the Australian Trade and Investment Commission (Austrade), Australian Government. The panel included business leaders from Indian industry associations, steel majors and other infrastructure experts, discussed the current scenario of the mining industry, national production…

26 Feb

Samsung Launches Exciting 2020 Range of Room Air Conditioners,

nebm0 CommentsBusiness

Samsung, India’s largest and most trusted consumer electronics and smartphones brand, today launched its new 2020 air conditioners line-up in West Bengal, introducing models across segments and at very competitive price points, thereby becoming a full range player in the AC category. With this new line-up Samsung is aiming to double its AC business in West Bengal. The new line-up of 41 models, aesthetically designed and priced to suit every home, comes with attractive floral patterns and premium strip design. Samsung has also expanded its copper condenser range to 32 models to match customer demand across the country, in each…

25 Feb

Facebook Invests In Indian Education Startup Unacademy

nebm0 CommentsBusiness, North Bengal

Social media giant Facebook on Wednesday joined General Atlantic, Sequoia India and others for a fresh $110 million round of funding into one of India's fastest growing education technology start-up Unacademy.This is the second investment by the social networking giant in India. Last year, Facebook made its first minority investment in a local startup called Meesho, a social-commerce venture empowering first-time entrepreneurs, especially women in small towns."We thank General Atlantic and Facebook who have joined us in this journey and our existing investors who continue to be a part of the journey by supporting us. Our goal is to democratise…

25 Feb

Increase In Public Float To 35% May See Action Next Fiscal

nebm0 CommentsBusiness

With the 2019-20 fiscal coming to an end soon, the Budget proposal to consider raising the public float in listed companies to 35 per cent may see some action in the next financial year, officials said on Tuesday. It needs examination of impacts and trends, and also seek stakeholders' views that takes time, they said, adding that there could be action on this front in the next fiscal. Market regulator SEBI has to submit a report to the Finance Ministry on the current Budget proposal to consider raising the current threshold of 25 per cent to 35 per cent.

24 Feb

Mukesh Ambani’s Big Revamp Of TV Business Before Potential Stake Sale

nebm0 CommentsBusiness, North East

Reliance Industries Ltd., controlled by Indian billionaire Mukesh Ambani, is merging its media and distribution businesses spread across multiple entities into Network18 Media & Investments Ltd. to help simplify the structure of the assets.The broadcasting business, TV18 Broadcast Ltd., will be housed in Network18, while the cable and internet services will be folded under two separate wholly owned units of Network18, Reliance Industries said in a statement late Monday.Under the recast, the share exchange ratio would be:92 shares of Network18 for every 100 shares of TV1878 shares of Network18 for every 100 shares of Hathway Cable & Datacom Ltd.191 shares…

24 Feb

Pay Hikes In India To Fall To Decade Low In 2020

nebm0 CommentsBusiness, North East

A new survey report on Tuesday said that India will see the lowest salary increase in a decade this year and even the real estate and transport sector -- the top national job generators -- will witness lowest pay hikes in 2020.The sharpest drop in pay hikes was projected in the auto sector, reflecting its stress; e-commerce sector was seen giving a double-digit pay hike -- among the highest across 20 sectors -- surveyed by on Plc, a human resource consultancy firm ."The vehicle manufacturing industry reported the biggest drop, from 10.1 per cent in 2018 to 8.3 per cent…

24 Feb

Sensex, Nifty End At Two-Week Lows; Telecom Stocks Plunge

nebm0 CommentsBusiness, North East, Siliguri

The S&P BSE Sensex and NSE Nifty 50 indexes fell for fourth day in a row to close at lowest level in two weeks on Tuesday weighed down by weakness in HDFC, Reliance Industries, Bharti Airtel, IndusInd Bank and Maruti Suzuki. Telecom shares were among the worst hit in trade a day after telecom firms Bharti Airtel and Vodafone Idea partly paid the adjusted gross revenue dues as directed by the Supreme Court. The Sensex fell as much as 445 points to hit an intraday low of 40,610.95 and the NSE Nifty 50 index broke its psychological important level of…

21 Feb

Budget 2020: Impact on the Indian economy

nebm0 CommentsBusiness

Calcutta Chamber of Commerce take on union budget 2020 2021and its impact on economy.The guest of honor present was Shri Sumit Dutt Majumder Shri Gaurav Swarup CA Dipankar Chatterjee Shri Saurabh Kedia and Shri Rajeev Maheshwari . The main point of discussion were the whole excise is an opportunity for the government to unfold the economic policies for sustainable growth of economy. The budget has foccused on the ease of living when it is talked about . It has focussed on startup scheme , msme sector as well as on the new economy that focuses om Al quamtam technology alongwith…