Economy 177
EA's tepid forecast overshadows quarterly beat, shares slip
Amid rising competition from console, mobile developers.
Hindustan Unilever clocks 4% sales growth
Firm hit by weak consumer sentiment
Vedanta Q3 PBT at Rs 3,806 cr, up 9.4% on lower costs, exceptional gain
Sales down 10% to Rs 21,126 cr mainly due to lower commodity prices, muted volumes in zinc, oil & gas and copper
Bank employees across India participate in two-day nationwide strike
The employees have joined the strike as the early wage revision settlement has been due since November 1, 2017
'Feel good' Budget may see cut in tax rate, sops for social sectors
FM is expected to pull out all stops to spur demand and investment, govt sources and economists said.
Deficit at $11.8 billion
The federal government ran a deficit of $11.8 billion over seven months of its 2019-20 fiscal year compared with a deficit of $2.1 billion in the same period last year.
Piper Sandler Companies (PIPR) CEO Chad Abraham on Q4 2019 Results - Earnings Call Transcript
Piper Sandler Companies (NYSE:PIPR) Q4 2019 Earnings Conference Call January 31, 2020 09:00 AM ET Company Participants Chad Abraham - Chairman & Chief Executive Officer Deb Schoneman - President T
UK SMEs see their future in the cloud
Cloud computing features strongly in the plans of SMEs for the coming year, with 57 percent planning increased adoption, according to a new report.
These All Ords shares were sold off in January: Time to buy?
Kogan.com Ltd (ASX:KGN) and these All Ordinaries shares were sold off in January. Is this a buying opportunity?
Volatility In SmileDirectClub Likely To Continue So Waiting To Buy May Be Best
SmileDirectClub, Inc went public in September 2019 as a unicorn, being valued at over $5B.While margins are showing improvement, net margin is still negative mainly due to high customer acquisition co
Hindustan Unilever Q3: Steady performance amidst the slowdown
Despite the ongoing consumption slowdown, Hindustan Unilever has been able to maintain the same 5 per cent year-on-year growth in volumes in each of the last three quarters. It has been able to hold v
A bullish signal for Canada’s banks, the SNC-Lavalin rally isn’t over, and why gold is setting up for a fall
A roundup of investment ideas for active investors
Economic Survey maintains $5 trillion aim, but can’t avoid references to Great Indian Slowdown
The annual document barely seems to acknowledge that the Indian economy is in the doldrums.
SK hynix’s 2019 operating profit plunges 87%
South Korean chipmaker SK hynix’s operating profit in 2019 plummeted 87 percent to 2.7 trillion won ($2.2 billion), amid the continued fall in memory chip prices and lower demand, according to its earnings report released Friday. The world’s second-biggest memory provider raised 26.9 trillion won in annual sales last year, a 33.3 percent plunge from 2018. The net profit nosedived 87 percent to 2.02 tril...
Financial Institutions, Inc. (FISI) CEO Marty Birmingham on Q4 2019 Results - Earnings Call Transcript
Financial Institutions, Inc. (NASDAQ:FISI) Q4 2019 Results Conference Call January 31, 2020 08:30 AM ET Company Participants Shelly Doran - Director, Investor and External Relations, EVP and General C
Union Budget 2020: How, When and Where To Watch Live Streaming Of Union Budget
Union Budget 2020: Finance Minister Nirmala Sitharaman is all set to present Budget 2020 in Parliament on Saturday at 11 a.m.
NSE: All-Share Index closes trading for January at 28,843.53
The All-Share Index of the Nigerian Stock Exchange (NSE) on Friday closed trading for the month of January below 29,000 mark following the dominance of the bears.
‘Buying a gun easier than opening a restaurant in Delhi: Chief Economic Advisor’
Analogy given by Chief Economic Advisor for improving the ease of doing business in India
Amazon's Q4 revenue takes a 300 bps hit due to Diwali timing, Japanese tax
Firms says large part of impact was felt as Diwali season moved more into third quarter, boosting Q3 sales at the cost of Q4
Shrinking French and Italian economies hamper euro zone growth
Spectre of recession likely to mean more monetary easing by ECB
PSU banks staff strike may affect branch, ATM services
However, private sector lenders like ICICI Bank and HDFC Bank would be operational.
Vedanta profit rises 49% to Rs 2,348 cr in Q3 on the back of lower expenses
In a statement, the company said "attributable PAT (was) at Rs 2,348 crore, up 49 per cent y-o-y (year-on-year)"
Matthews International Corporation (MATW) CEO Joseph Bartolacci on Q1 2020 Results - Earnings Call Transcript
Start Time: 09:00 End Time: 09:23 Matthews International Corporation (NASDAQ:MATW) Q1 2020 Earnings Conference Call January 31, 2020, 09:00 AM ET Company Participants Joseph Bartolacci - President and
Cases Involving Rs 1.58 Lakh Crore Resolved By IBC Till December; Resolution Time Slashed By 340 Per Cent
The Insolvency and Bankruptcy Code (IBC) has resolved cases worth Rs 1.58 lakh crore till December 2019 and the resolution time for each case has reduced from 4.3 years to less that a year, the Economic Survey 2019-20 has noted [PDF].
GST collection crosses Rs 1.1 trn mark in January; in line with the target
In January, domestic GST collection was around Rs 86,453 cr. Around Rs 23,597 cr was collected through IGST and cess
Budget 2020: How can FM Nirmala Sitharaman put India back on growth trajectory towards a $5 trillion economy
Union Budget 2020:
SBI profits zooms 41% to ₹5,583 crore in Q3
State Bank of India, on Friday, reported a robust 41 per cent jump in net profit at ₹5,583 crore in the third quarter ended December 31, 2019, along with an improvement in asset quality. The bank sa
Economic slowdown bottomed out, uptick from here onwards: CEA K V Subramanian after Economic Survey
Chief Economic Adviser K V Subramanian on Friday said India's GDP is expected to grow at 6-6.5 per cent next fiscal as the economic slowdown has bottomed out.
Govt plans to sell 15% take in HAL via offer for sale
The government is planning to sell 15 per cent stake in Hindustan Aeronautics Ltd (HAL) through an offer for sale, which could fetch about Rs 4,000 crore to the exchequer.
Govt should lean on growth instead of focusing on fiscal deficit: CEA
It is time to focus on growth and, therefore, cutting expenditure is not an option, probably because at a time like this, growth needs to be taken care of, he added
Plug Power - Business Update Call Takeaways - Company Signs Third Anchor Customer
Discussing key takeaways from Thursday's business update call. Company reported FY2019 gross billings at the lower end of the projected range and guided for approximately 27% top-line growth and mater
Markets Recoil as Economic Survey Stokes Fiscal Slippage Fears
The 30-share BSE Sensex closed 190.33 points, or 0.47 per cent, lower at 40,723.49. Likewise, the broader NSE Nifty shed 73.70 points, or 0.61 per cent, to finish at 11,962.10.
Fiscal deficit hits 132% of estimate till Dec on slow revenue collection
The government aims to restrict the gap at 3.3 per cent of the GDP or Rs 7,03,760 crore in the year ending March 2020
GDP edges up 0.1 per cent
The Canadian economy edged higher in November, reversing most the decline seen in October, as cold weather helped boost the utilities sector and the construction and retail sectors also gained ground.
Wealth creation to Thalinomics: All you must know about Economic Survey '20
The overarching theme of the Economic Survey 2019-20 is creation of wealth over time and the implementation of policies that act as enablers in creation of this wealth
Corporate tax cut to mostly benefit less than 1 pc of companies: Survey
The corporate tax cut announced by FM last Sept will benefit less than 1 pc of firms, as per Economic Survey.
DHFL account classified as ‘red-flagged’ by State Bank of India
State Bank of India has classified the Dewan Housing Finance Corporation Ltd (DHFL) account as a red-flagged account (RFA) and said it would scrutinise the home loan pools purchased from the trouble
FP Dealmakers: Foreign firms gobbled up record number of Canadian companies in 2019
A number of Canadian companies were bought out by rivals or private equity firms last year
3 Straight Quarters Of 2%, And Yet Each One Very Different
For the year, the Bureau of Economic Analysis (BEA) puts total real output at $19.07 trillion, or annual growth of 2.33% and down from 2.93% in 2018.Imports are down so sharply because the domestic pa
Sanders, Biden are neck-and-neck in new NBC/WSJ national poll
The two Democratic presidential contenders are statistically tied but Sanders has an edge in loyalty of his supporters.
Posco’s operating profit down 30% in 2019 amid industry downturn
South Korean steel giant Posco said Friday its operating profit dropped 30.2 percent in 2019 from the previous year, amid the overall industry downturn and protectionism by major trading partners. The steelmaker said its revenue stood at 64.3 trillion won ($53.9 billion), down 0.9 percent on-year. The operating profit posted at 3.86 trillion won, while net profit was 1.98 trillion won last year. The operating margin...
Budget 2020: How FM Nirmala Sitharaman's fiscal deficit math is likely to move Sensex, Nifty on Feb 1
Budget 2020: An increase in fiscal deficit target in view of the ongoing economic slowdown may not negatively impact the market since elevated level of expenditure is expected to result in higher demand in Indian economy
Market movers: Stocks that saw action on Friday - and why
A roundup of some of the North American equities making moves in both directions today
General Electric Slams It Out Of The Park
Contrary to fears from many market participants, General Electric appears to be turning a corner.The company's latest release reveals strong performance when it comes to cash flow and good results mov
3M Company: Buy The Crisis, Collect The Dividends, And Sell The Turnaround
3M is absorbing substantial restructuring costs and just announced 1,500 layoffs.The market's reaction to recent news is not totally unjustified, but we are not so easily swayed. Stoic investing is we
Govt Revises GDP Growth For 2018-19 to 6.1 Per Cent From 6.8 Per Cent
Earlier in the day, the Economic Survey presented by chief economic advisor (CEA) Krishnamurthy Subramanian projected revival of economic growth to 6-6.5 per cent in the next fiscal starting April 1, 2020.
GDP growth expected to rebound to 6-6.5 per cent in 2020-21: Economic Survey
The Economic Survey 2019-20 tabled in Parliament said there are tentative signs of bottoming out of slowdown in manufacturing activity and global trade, which will have a positive impact on growth in the next fiscal.
Canada’s economy bucks forecasts, posts surprise gain
Statistics Canada says GDP grew by 0.1 per cent in November despite impact of rail strike, pipeline disruption; economists had expected no increase for the month
Jakarta stock index slips 1.5 percent as Wuhan virus spreads
The JCI concluded morning trade at 5,966.87 before lunch break, breaking below the 6,000 level for the first time this year.
Slowdown bottomed out, GDP expected to grow at 6.5 per cent: Chief Economic Adviser
The Economic Survey has projected the GDP to expand by 6-6.5 per cent
GDP growth for 2018-’19 revised downwards to 6.1%
Earlier it was estimated to be 6.8%. However, slowdown in mining, manufacturing and farm sectors forced the National Statistical Office to change the figures.
Economic Survey 2020: Need to address rising food bill, revisit PDS rates
The food subsidy bill has increased from Rs 1,13,171.2 crore in 2014-15 to Rs 1,71,127.5 crore in 2018-19, it said adding that the reasons for widening of the food subsidy have been many
Economic Survey 2019-20: Competition, low tariffs led to financial stress in telecom sector
The data price in the country came down by over 99% during 2016-2019, making it among the lowest tariff in the world, according to the survey.
Highways sector needs Rs 19.63 lakh crore investment by 2024-25: Economic Survey
Of the total Rs 102 lakh crore investment need for infrastructure projected by the National Infrastructure Pipeline (NIP), during 2020 to 2025, the highways sector will require Rs 19.63 lakh crore, the Survey said.
Amazon Sees Upgrades All Around Wall Street Following Solid Cash Flow, Operating Income
Web hosting services seller and online retailer Amazon.com, Inc is seeing fresh optimism from Wall Street following strong revenue growth.
Chevron reports worst quarterly loss in a decade
Jan. 31 (UPI) -- Chevron on Friday reported its worst quarterly loss in a decade -- $6.6 billion for the last three months of 2019, due mainly to a write-off of its Appalachian shale production sites.
The Bubble: Bigger, Fatter, Uglier
Reflecting on presidential debate proclamations past.What progress has been made in addressing the big, fat, ugly bubble identified in September 2016?What are the implications of the bigger, fatter, u
Eco Survey focuses on wealth creation, says PM
After the release of Economic Survey 2019-20, Prime Minister Narendra Modi took to his Twitter handle and said it focuses on wealth-creation for 130 crore Indians. It outlines a multi-faceted strategy to achieve a $5 trillion economy through enterprise, exports, ease of doing business and more.
Amazon lifts profit in Q4 despite weak international ops, sees mixed Q1
Amazon said revenues for its fourth quarter advanced to USD 87.4 billion from 72.4 billion the year before, including a negative forex effect of USD 120 million, well in line with expectations. Despite a forecast for a lower profit, the operating profit crept up to USD 3.9 billion from 3.8 billion, and the net profit lifted to USD 3.3 billion or USD 6.47 per diluted share, from 3.0 billion and 6.04 per share.
Market LIVE: Sensex, Nifty subdued as Economic Survey throws fiscal, economic challenge for government
Around 3.15 PM, S&P BSE Sensex was trading 0.51 per cent or 209 points lower at 40,703.84 while broader Nifty 50 index breached the crucial 12,000-mark and was ruling at 11,955 points
Sales of over 1.7k listed manufacturing firms contracted by 7.7 per cent in Q2: Survey
The Survey, tabled in Parliament on Friday by Finance Minister Nirmala Sitharaman said demand conditions for the manufacturing sector weakened in September quarter of 2019-20 with a contraction in nominal sales, citing RBI studies on corporate performance.
Fiscal deficit target may be relaxed to arrest declining growth: Economic Survey
The Medium Term Fiscal Policy (MTFP) statement presented with the Budget 2019-20, pegged the fiscal deficit target for 2019-20 at 3.3 per cent of gross domestic product (GDP), which was further expected to follow a gradual path of reduction and attain the targeted level of 3 per cent of GDP in 2020-21, and continue at the same level in 2021-22.
Market Wrap, Jan 31: Sensex tanks 190 pts, Nifty below 12K ahead of Budget
State Bank of India posted a 41 per cent year-on-year growth in the standalone net profit at Rs 5,583 crore - its highest ever quarterly net profit-- for the December quarter of FY20
China's factory activity falls in January as virus fears grow
China's manufacturing activity slipped in January, official data released Friday showed, as the country grapples with a new virus that has claimed more than 200 lives.
Amazon set to blow past a $1 trillion valuation after topping analysts' earnings expectations
Amazon shares tore as much as 11% higher in early Friday trading, pushing the company’s market valuation above $US1 trillion for the first time since July.
BofA sees Eskom among risks to spoil brief SA rally
'Investors are getting impatient and are looking for opportunities elsewhere' – investment strategist.
Amazon shares surge on strong earnings update
Amazon shares shot higher Thursday after the internet colossus released quarterly earnings figures for the holiday quarter that trounced market expectations.
VN-Index plummets further amidst coronavirus crisis - VnExpress International
The benchmark VN-Index plunged 22.96 points, or 2.39 percent, to 936.62 Friday to reach its lowest level since February 11 last year.
Bank of Ghana’s corporate guidelines pushes some board chairs and CEOs out of office
The Bank of Ghana has revealed that several board chairs and Chief Executive Officers (CEOs) of banks in Ghana have left their positions.
Amazon lifts profit in Q4 despite weak international ops, sees mixed Q1
Amazon said revenues for its fourth quarter advanced to USD 87.4 billion from 72.4 billion the year before, including a negative forex effect of USD 120 million, well in line with expectations. Despite a forecast for a lower profit, the operating profit crept up to USD 3.9 billion from 3.8 billion, and the net profit lifted to USD 3.3 billion or USD 6.47 per diluted share, from 3.0 billion and 6.04 per share.
Tech Mahindra Q3 net profit slips 5% YoY to Rs 1,146 crore, revenue up 8%
In constant currency terms, revenue grew 4.3 per cent. In US dollar terms, revenue rose 5.1 per cent to $ 1,353 million.
Economic Survey 2020 forecasts India GDP growth at 6-6.5% for FY21
Economic Survey 2020: According to the survey, uncertainties, although declining, are still elevated due to protectionist tendencies of China and USA and rising USA-Iran geo-political tensions
Economic Survey: Why erosion of taxpayers’ money in PSBs is a much deeper issue
While the Economic Survey helps in quantifying the loss, it fails to point out the graver issues at hand
Economic Survey calls for USD 1.4 trillion spending on infrastructure
Finance minister notes that investment in infrastructure is necessary, as it affects the overall growth
India's annual growth slows to 5% as New Delhi vows revival
India needs to create jobs for the 1.2 million new entrants to the labor market every month but unemployment levels have hit a four-decade high.
India forecasts faster economic growth, warns of fiscal challenge
The government estimates GDP will grow 5% this fiscal year, which ends on March 31. That would be the slowest growth since the global financial crisis of 2008-09
7 European ETFs to Buy as the Continent Begins Its Rebound
European equity markets have long lagged the U.S. But these European ETFs are worth a second look with nice valuations and yields.
India's share in global commercial services exports up at 3.5 per cent
According to the economic survey tabled by finance minister Nirmala Sitaraman, the service sector acounts for 55 per cent of economic growth
SBI posts highest ever net on Essar Steel recovery
Asset quality improves, slippages stay elevated; no big ticket loan going forward, says CMD
Key takeaways from Economic Survey 2020
Finance Minister Nirmala Sitharaman on Friday tabled economic survey projecting the country’s economic growth at 6-6.5% for the next fiscal year starting April 1.
CELLINK resolves directed share issue of SEK 377 million
The Board of Directors of CELLINK AB (publ) has, based on the authorization given by the Company’s Annual General Meeting that was held on 18 December 2019, resolved on a directed share issue of 3,890,000 new shares of series B (corresponding to approximately 10 per cent of the total number of outstanding shares in the Company) at a subscription price of SEK 97 per share (the “Share Issue”), which means that the Company receives SEK 377,330,000 before transaction costs.
Two-day PSU bank strike over wage revision impacts services across country
However, private sector lenders like ICICI Bank and HDFC Bank were operational.
Economic Survey: 5,151 smart city projects at various levels of execution
On Pradhan Mantri Awas Yojna-Urban (PMAY-U) programme, the Survey said the scheme was launched in June, 2015 to provide "pucca" house with basic amenities to all eligible urban poor
SBI posts highest-ever quarterly profit of Rs 5,583 crore in Q3
SBI Q3 results: The bank's gross non-performing assets (NPAs) ratio declined to 6.94 per cent in Q3FY20 versus 8.71 per cent in the same quarter last year
Indonesia: Year in review 2019
Indonesia recorded year-on-year (yoy) growth of 5.02 percent in the third quarter of 2019, slightly down on earlier projections of 5.1 percent, as well as on second quarter levels of 5.05 percent yoy. This figure was the lowest rate of growth since mid-2017, as investment, household spending and government spending all saw subdued growth.
Vedanta profit rises 49% to ₹2,348 crore
Revenue, however, drops 10% to to ₹21,126 crore
Economic Survey sets the tone for Budget 2020
The Survey's theme is 'Wealth Creation'
Tech Mahindra to pick 70% stake in Cerium Systems
The cash transaction is expected to close by April 1, 2020.
Citizenship Amendment Act fulfilled Gandhiji’s dream: President Ramnath Kovind
Vice President Venkaiah Naidu s also chairing a meeting of floor leaders of Rajya Sabha at his residence on Friday.
Economic Survey 2020 Details 'slump In 2019' But Predicts 'rebound To Achieve $5 Trillion'
A day before the Union Budget is presented, CEA Krishnamurthy Subramanian on Friday, presented the Economic Survey 2020 which spoke of how difficult 2019 was
Work at state-owned banks affected as employee unions go on 3-day strike
Private sector lenders like ICICI Bank and HDFC Bank were working as usual.
Economic Survey Projects India's GDP Growth at 6-6.5 Per Cent for 2020-2021
New Delhi (Sputnik): Amid the widespread slowdown in the Indian economy, the government lowered its national income growth forecast for the current fiscal year from April 2019-March 2020 to 5 per cent against the earlier projections of 7 per cent.
ITC Q3 net profit grows 29% to Rs 4,048 crore
Net sales increased 5.71 per cent during the December quarter this fiscal to Rs 13,220.30 crore, as opposed to Rs 12,506.05 crore in the corresponding period a year ago
Tractor Supply's Shopper Trends Turn Negative
The retailer blamed unusually warm winter weather for a sharp growth slowdown over the holiday season.
Pricing Your Apartment in a Slow Market
For sellers with high hopes, the reality of the current market can be deflating.
Economic survey: Slowdown bottomed out, uptick from here onwards, says CEA
The Economic Survey 2019-20, prepared by a team lead by Subramanian, has projected the GDP to expand in the range of 6-6.5 per cent during 2020-21
Lavender Economic Survey says growth has bottomed out, pegs GDP for FY21 at 6-6.5%
The pre-Budget Survey said for wealth to be distributed, it first has to be created and called for looking at wealth creators with respect.
CVS Stock Is a Long-Term Hold, but It’s not a Buy Ahead of Earnings
CVS Health's 2018 acquisition of Aetna will likely boost CVS stock in 2020, but volatiity around earnings date is possible.
GDP growth expected to strongly rebound to 6-6.5% in FY21: Economic Survey
India's economic growth is expected to "strongly rebound" to 6-6.5 per cent in 2020-21 from 5 per cent estimated in the current fiscal, the Economic Survey said on Friday, adding that the government with a strong mandate has the capacity to expedite reforms.
Funding National Infra Pipeline would be a 'challenge': Economic Survey 2019-20
To achieve GDP of USD 5 trillion by 2024 – 2025, India needs to spend about USD 1.4 trillion (Rs.100 lakh crore) over these years on infrastructure so that lack of infrastructure does not become a constraint to the growth of Indian economy, the survey said.
HUL reports 12.95% rise in consolidated net profit at Rs 1,631 cr
The company had posted a net profit of Rs 1,444 crore in the October-December period of the previous fiscal
Bernie Sanders, Joe Biden in dead heat days before Iowa caucuses
Sanders’ single-point advantage, which is well within the poll’s plus or minus 4.74 percentage point margin of error, was the first time he came out on top in the survey.
Amazon Crushes Earnings, and Here's the Most Impressive Part
Amazon’s retail sales took flight even in soft consumer spending environment.
7.3% Yield, Monthly Pay Opportunity From HFRO
Most fixed income products are getting expensive, including preferred stocks and bonds.Yet we keep finding nice opportunities for fixed income investors.HFRO has traded flat recently while most fixed
Fiscal deficit hits 132% of full-year target
The deficit was 112.4% of 2018-19 Budget Estimate (BE) in the corresponding period.
Amazon set to blow past a $1 trillion valuation after topping analysts’ earnings expectations
Amazon shares tore as much as 11% higher in early Friday trading, pushing the company’s market valuation above $1 trillion for the first time since July.
Economic Survey calls for $1.4 trillion infra spending during FY2020-2025
Investment in infrastructure is necessary for the economy, as power shortages, inadequate transport and poor connectivity affects overall growth performance, as per the Survey
Broadridge Financial Solutions, Inc. (BR) CEO Tim Gokey on Q2 2020 Results - Earnings Call Transcript
Broadridge Financial Solutions, Inc. (NYSE:BR) Q2 2020 Earnings Conference Call January 31, 2020 08:30 AM ET Company Participants Edings Thibault - Head of Investor Relations Tim Gokey - Chief Executi
Economist who counted $40 billion cost from SARS predicts far bigger hit from new coronavirus
The global cost of the coronavirus could be three or four times that of the 2003 SARS outbreak, which sapped the world's economy by $40 billion, according
SBI profit jumps 41% to ₹6,797crore in Q3 on lower provisioning
Consolidated income rose to ₹95,384.28 crore in the third quarter from ₹84,390.14 crore in October-December 2018-19, SBI said in a regulatory filing
Stage set for gradual recovery in broader markets over next year: Sunil Subramaniam, Sundaram MF
Things are not going to recover right from tomorrow but over the next three to six months, one can definitely see the underpins of an economic recovery, says Sunil Subramaniam, MD & CEO, Sundaram Mutual Fund.
Eco Survey flags disproportionate dwarfism of banks, calls to be efficient
The Economic Survey 2019-20 tabled in Parliament by Finance Minister Nirmala Sitharaman noted that despite nationalisation a significant portion of the poor remained unbanked till 2014
Coronavirus In Context
Experts are projecting that the current outbreak may get worse before it gets better.However, the mortality rate is below that of SARS with the elderly and people with pre-existing conditions being mo
Tech Mahindra profit dips 5% to ₹1,146 cr.
Firm’s revenue, however, rises 8% to ₹9,655 crore
Amazon stock soars following strong Q4 earnings report
Amazon shares are soaring after the e-commerce giant announced fourth quarter earnings that smashed expectations.
Economic Survey: Sales of over 1.7k mfg firms contracted by 7.7% in Q2
Net profit for the manufacturing sector contracted in Q1 (June quarter) of 2019-20, mainly due to a production slowdown, it added
Eco Survey gives positive outlook for steel, oil and gas sectors: Pradhan
The sector achieved a growth of 5.2 per cent during April-November period of the ongoing financial year as compared to 3.6 per cent in the year-ago period, it added
Statistics Canada says GDP edged up 0.1 per cent in November
The Canadian economy edged higher in November, reversing most the decline seen in October, as cold weather helped boost the utilities sector and the construction and retail sectors also gained ground.
ITC Q3 net profit rises 29% to Rs 4,047.87 cr; net sales up 5.71%
The company had posted a net profit of Rs 3,136.95 crore in the October-December quarter of the previous fiscal
Public sector bank services hit as employees union go on 2-day strike
Bank strike: Services like cash deposit, withdrawal, cheque clearances, instrument issuance and loan disbursement of public sector banks are affected.
US consumer spending cooled last month, core prices picked up
Income growth in the US slowed to 0.2%.
World Bank calls for stronger tax collection to bring 115 million Indonesians into middle class
World Bank acting country director for Indonesia Rolande Pryce said the government’s plan to relax corporate income tax, among other things, would reduce the tax-to-GDP ratio by 0.5 percent. Indonesia’s tax to GDP ratio stands at 10.7 percent in 2017, the lowest among regional peers.
Telecom sector is bleeding! Will Modi govt offer relief in Budget 2020?
Budget 2020: Telecom industry has also demanded a reduction in levies, both licence fee and Spectrum Usage Charges (SUC). It has also asked the Centre to create an infrastructure bank that would raise tax-free bonds, the proceeds of which can be used to lend to the companies at lower rates.
Boeing: A Lot Of Pain With Light At The End Of The Tunnel
Boeing experienced a great deal of pain last year due to its 737 Max issues.These problems have extended into 2020 and will likely persist during at least the first half of the year.The balance sheet
National Statistical Office revises growth down to 6.1% for 2018-19
“Real GDP or GDP at constant (2011-12) prices for the years 2018-19 and 2017-18 stand at ₹139.81 lakh crore and ₹131.75 lakh crore, respectively.”
Economic Survey suggests cutting subsidy to increase fiscal legroom
Cutting the food subsidy can help provide more fiscal room, according to the Economic Survey.
Full text: President Ram Nath Kovind’s address to joint sitting of Parliament
"The Citizenship Amendment Act is a historic law. It has fulfilled wishes of our founding fathers including Mahatma Gandhi," President ram Nath Kovind said.
Unilever sales growth stagnates amid sluggish household consumption
The Anglo-Dutch company booked a 2.7 percent year-on-year (yoy) growth in sales to Rp 42.9 trillion (US$3.15 billion) in 2019, the company said in a statement obtained by The Jakarta Post on Thursday.
7 Underappreciated Foreign Dividend Stocks to Buy Now
This is a great time to add the benefits of diversification to your portfolio with some attractive foreign dividend stocks.
Kevin Greenard: Decline in the value of your cash savings
The average life expectancy for females and males in Canada is 84 and 80, respectively. Many people are living well into their 90’s, resulting in many retirees having to update financial plans . . .
Revival in sight: Economic Survey pegs FY21 GDP growth at 6-6.5%
Fiscal targets may have to be relaxed for the current year
SBI Q3 results: Profit jumps 41% to Rs 5,583 crore; asset quality shows big improvement
Percentage of net NPAs stood at 2.65 per cent compared with 3.95 per cent last year.
Bank of India posts profit, scrip up 3%
The State-owned lender had posted a net loss of ₹4,643.71 crore in the year-earlier period.
Fidelity Bank reports a 28.5% increase in profit for FY 2019
Earlier today, Fidelity Bank Plc announced its unaudited financial reports for the period ended December 31st, 2019.
Economic Survey 2019-20 highlights: Back to Adam Smith's Invisible Hand
India's aspiration to become a $5 trillion economy depends critically on strengthening the invisible hand of the market, it said. And this needs to be done with the hand of trust through government intervention by facilitating pro-business policies.
Rs 7,000 crore worth of transactions hit due to bank strike in Tamil Nadu
All India Bank Employees Association (AIBEA) general secretary CH Venkatachalam told Express that nine lakh cheques worth Rs 7,000 crore in the state could not be processed due to the bank strike.
Mining sector's GDP share sees decline due to disruptions in Goa, Karnataka
Closure of mines and disruptions due to changes in legislations has thrown the sector out of gear, curtailing production and endangering jobs
Premarket: World shares struggle for footing after virus-battered week
Oil and copper prices set for worst month since May
Balanced growth is essential for democracy
Economic development is uneven across State lines and social classes. A consensual approach is needed to move India forward
Oh! GDP grew only 6.1% - not 6.8% - last fiscal, says MOSPI
GDP figures for financial year 2017-18 were also revised downwards to 7 per cent, from 7.17 per cent reported earlier
Govt to spend Rs 25 lakh cr to boost rural economy; over Rs 43K cr disbursed under PM-KISAN scheme
The government has provided over Rs 43,000 crore to more than 8 crore farmers under the PM-KISAN scheme and will spend Rs 25 lakh crore in coming years to boost the rural economy, President Ram Nath Kovind said on Friday.
'Feel good' Budget may see cut in tax rate, sops for social sectors
To cushion the impact on collections, these tweaks might be accompanied by rationalisation in tax rebates
Buy local products for 'better tomorrow'; efforts on to make India $5 tn economy: Prez Kovind
President Ram Nath Kovind on Friday exhorted people to use locally manufactured products for a "better tomorrow" as he reiterated the government's commitment to make India a USD 5 trillion economy.
U.S. consumer, factory data suggest economy losing momentum
WASHINGTON (Reuters - U.S. consumer spending rose steadily in December, but tepid income gains pointed to moderate consumption growth this year, which together with slumping business investment likely set the economy on a slower growth path this year.
Amazon set to blow past a $1 trillion valuation after topping analysts' earnings expectations, Business Insider - Business Insider Singapore
Business Insider - The company previously touted $1 trillion valuations in September 2018 and July 2019, though the milestones were quickly lost as shares tumbled.. Read more at businessinsider.sg
SBI records 41 per cent jump in Q3 net profit at Rs 5,583 crore
The bank says this is the highest ever quarterly net profit recorded by it
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HUL volume growth surprises, profit before tax up 14% in December quarter
The company's volume growth is also ahead of the overall FMCG sector's
Shares struggle for footing after virus-battered week
World share markets fought to regain their footing on Friday as investors clutched at hopes that China could contain the coronavirus, even as ...
SBI profit jumps 41 per cent to Rs 6,797 crore in Q3 on lower provisioning
On a standalone basis, SBI's net profit jumped 41.2 per cent to Rs 5,583.36 crore in the third quarter of the current fiscal compared to Rs 3,954.81 crore during the corresponding October-December period in the same period a year ago.
ING the second Netherlands bank to turn to negative savings interest
Banking institution ING has become the second bank in the Netherlands to charge a negative interest rate on certain savings accounts. Customers will face a -0.50 percent interest rate for any amount
Eco Survey has right vibes; will Budget reflect same thinking, asks D-Street
Here is what economists and analyst read into the fine prints of the survey.
Budget 2020: Challenge for Indian Finance Minister is to Balance Growth, Fiscal Deficit
New Delhi (Sputnik): Amid the slowdown in the Indian economy, the government lowered its national income growth forecast from 7 percent to 5 percent for the current fiscal year. The Economic Survey tabled in Parliament on Friday pegged growth for 2020-21 at between 6 and 6.5 percent.
Corporation tax cut to benefit 1% firms, SMEs paying lower tax: Eco Survey
With economic slowdown resulting in slippages in direct and indirect tax collections, the Survey said the next financial year is expected to pose challenges on the fiscal front
Eco Survey sees growth at 6.5% in FY21, calls for easing of deficit target
For the current fiscal, it projected a GDP growth of 5 per cent, the lowest in 11 years, and worsening job prospects
Bank of Ghana keeps policy rate unchanged at 16 percent
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Indiabulls to exit realty biz, merge with entity led by Embassy, Blackstone
In the past two years, IBREL has sold commercial assets to Blackstone for around Rs 12,250 crore
Economic survey predicts GDP to be between 6 and 6.5%, wants government to deliver expeditiously on reforms to revive growth
The Economic Survey 2019-20 tabled in the parliament on Friday predicted the GDP growth between 6% and 6.5% in the fiscal year starting 1 April.
‘Big four’ banks turn into ‘big two’ - VietNamNet
With Vietcombank making up 40 percent of total profit of four state-owned banks, the competition among the ‘big four’ banks has been reduced to the ‘big two’.
What If the Coronavirus and China's Quarantines Caused a Global Recession?
That would be bad.
Economic Survey suggests widening scope of Make in India to create 4 crore jobs by 2025
This can be done by integrating “assemble in India for the world” into Make in India.
5 things about India you probably didn't know before Friday's Economic Survey
The Survey highlighted that there are quite a few signals that the Indian economy may have bottomed out.
Marico slips 6%, hits 52-week low on disappointing December quarter results
In Q3FY20, consolidated revenue from operations declined 2 per cent YoY at Rs 1,824 crore.
Pre Budget Expectations by HDFC Securities
HDFC Securities The Govt needs to give a serious push to improve the business environment.
Core Sector Growth Recovers To 1.3% In December
The growth was, however, lower than 2.1 percent recorded in December 2018.
Economic Survey 2020: CEA Subramanian sees fiscal slippage in FY20
Subramanian said the country might have hit the trough in growth and expressed his confidence in achieving 6-6.5 per cent growth in fiscal year 2020-21
Smart City Mission: 5,151 projects at various stages of implementation, says Survey
Talking about achievements of 'Smart Cities Mission' (SCM), the Survey said all 100 cities under the mission have incorporated SPVs, City Level Advisory Forums (CLAFs) and appointed Project Management Consultants (PMCs). "Since the launch of the mission, 5,151 projects worth more than Rs 2 lakh crore are at various stages of implementation in the 100 cities," it added.
GDP Prints At 2.1%, But Strong Export Data Is Anomalous; Likely To Be Revised Downward
Most of the 2.1% print came from Net Exports (NEX), but the lead of that was a technical increase from IMPORTS (which normally REDUCE GDP) .NEX is the component of GDP that, historically, is most revi
Pfizer Misses Target, Soft Guidance, And Other News: The Good, Bad And Ugly Of Biopharma
Pfizer missed Q4 target, offers soft guidance.Surface Onco receives IND.PerkinElmer provides lackluster 2020 guidance.
ITC Q3 pre-tax profit rises 4.5% to Rs 5049 cr on hotels, agro businesses
The company said that the macro-economic environment continues to be adversely impacted as reflected in GDP growth, and persistent weakness in consumption demand and investments
Exxon quarterly profit falls 5.2% on weak refining, chemical margins
HOUSTON (Reuters) - Exxon Mobil Corp (XOM.N) on Friday reported a 5.2% drop in fourth-quarter profit on weaknesses in chemicals and refining and flat oil and gas output, with asset sales helping to stem the decline.
Novartis Revenue Jumps, And Other News: The Good, Bad And Ugly Of Biopharma
Novartis revenue jumps but net income falls for Q4.Hepion's CRV431 produces positive data.Amphastar gets a CRL.
Citizenship Amendment Act fulfils wish of Mahatma Gandhi, President Ram Nath Kovind tells Parliament
The President said India had always believed in the principle of equal respect for all faiths, but at the time of partition in 1947, “this very belief of India and of its people came under the most severe attack”.
Economic Survey 2019-20 Tabled in Parliament, Sees Pick up in Growth
For the current fiscal, it projected a GDP growth of 5 per cent, the lowest in 11 years, and worsening job prospects.
Economic Survey outlines strategy to achieve $5 trillion economy, says PM Modi
In a social media post, PM Modi said that the Economic Survey, tabled in Parliament today, highlights the government's strategy to achieve $5 trillion economy.
F&O: Over to Budget; banking stocks only hope as bears rule
India VIX moved up 3.38 per cent to 17.36 level.
Dow plunges 500 points amid coronavirus fears after outbreak is declared a global health emergency and death toll reaches 213
The World Health Organization declared the epidemic a global emergency on Thursday after the fast-spreading virus killed more than 200 people in China and infected thousands.