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Category Archives: Economic

6-12 months time needed for PSU general insurers to hit the market

ChennaI:  It will take anything between six to 12 months for the government owned insurance companies to come out with their initial public offering (IPO) allowed by the Union Cabinet on Wednesday, industry officials said. The industry officials also told IANS that only from now will activities relating to public issue – enterprise valuation and…

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MobME eyes international markets with new products on its 10th anniversary

  Mumbai: MobME Wireless Solutions, a technology company aiding enterprises in creating customer centric solutions, today announced its next leg of growth in terms of both products and markets. The company made this announcement at an event to mark its 10 year anniversary. Taking an innovative approach of growth in its next leg, MobME plans…

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Domestic air passenger traffic up 23% in 2016: DGCA

New Delhi: India’s domestic air passenger traffic zoomed by 23.18 per cent in 2016 to 998.88 lakh, official data showed on Tuesday. “Passengers carried by domestic airlines during January-December 2016 were 998.88 lakh as against 810.91 lakh during the corresponding period of previous year, thereby registering a growth of 23.18 per cent,” the Directorate General…

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India 60th in WEF inclusive development list below Nepal, Pakistan

  Davos;  India has been ranked 60th among 79 developing economies, even lower than China and Pakistan, in the World Economic Forums latest inclusive development index (IDI) report. The WEF’s Inclusive Growth and Development Report 2017, released here on Monday, said that most countries were missing major opportunities to raise economic growth, as well as reduce…

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Indian equities open in green

Mumbai:  Indian equities markets on Tuesday opened on a positive note as investors’ sentiments were buoyed by healthy third-quarter (Q3) results, a slightly higher rupee, and developments on the GST issues. The key indices traded in the green during the early morning trade session, as healthy buying was witnessed in banking, capital goods and FMCG…

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Moody’s assigns Baa3 rating to SBI’s US dollar denominated notes

Chennai:  Global credit rating agency Moody’s Investors Service on Tuesday gave a Baa3 rating to State Bank of India’s (SBI) proposed US dollar denominated senior unsecured notes. The notes are issued under SBI’s $10 billion Medium-Term-Note (MTN) programme. The drawdown will be carried out from its London branch, and the bonds will be listed on…

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Mukesh Ambani urges youths to make this ‘an Indian century’

Mumbai:  Reliance Industries Limited (RIL) Chairman and Managing Director Mukesh D. Ambani on Monday urged the youths and students to help India realise its true potential and make this “an Indian century” with a humane touch, despite being surrounded by machines and technologies. Delivering the 160th Annual Convocation Address at the University of Mumbai, Ambani…

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Pound falls ahead of May’s Brexit speech

London:  The pound sterling on Monday hit its lowest level for more than three months on reports that British Prime Minister Theresa May would in her address on Tuesday signal a “hard Brexit”. The sterling pound fell below $1.20 before bouncing back slightly on Monday, BBC reported. The pound also dropped to a two-month low…

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