Free Press Journal
  • ICICI Bank’s net profit down by 45%, Chanda Kochhar gives no answers

    Mumbai: The ICICI Bank has reported its smallest profit in seven quarters – in fact, there was a 45 per cent decline in consolidated net profit in the fourth quarter. The results have come out against the backdrop of a series of allegations of impropriety in extending loans to some companies and charges of conflict of interest against managing director and chief executive Chanda Kochhar.

  • Nestle pays $7.15 billion to sell Starbucks products

    Zurich: Swiss food giant Nestle announced today it will pay USD 7.15 billion for the rights to market Starbucks products around the world, outside of the company’s coffee shops.  The agreement gives Nestle, which owns the Nescafe and Nespresso brands, a strong platform for continued growth in North America, the company said in a statement.

  • Rupee rebounds by 8 paise in early trade

    Mumbai: The rupee strengthened by 8 paise to 66.79 against the dollar in early trade today on fresh selling of the US currency by exporters and banks amid higher opening in the domestic equity market.  Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against some currencies overseas propped up the rupee.

  • Godrej Properties posts over two-fold jump in profit at Rs 141.51 crore

    New Delhi: Realty firm Godrej Properties today reported over two-fold jump in its consolidated net profit at Rs 141.51 crore for the January-March quarter of last fiscal on higher sales.  Its net profit stood at Rs 62.59 crore in the year-ago period, the company said in a filing to the BSE.

  • Rupee opens flat against US dollar in early trade

     Mumbai: The rupee edged one paisa higher to 62.63 against the US dollar in early trade today after the greenback weakened overseas ahead of monthly US jobs report and China-US trade meet outcome.  Forex dealers said besides selling of the American currency by exporters and banks, weakness in the dollar against other currencies as senior Chinese and US officials met in Beijing today for a second day of trade talks, supported the

  • GST proves itself

    The Goods and Services Tax collections, according to official data, crossed the Rs one- lakh mark in April. Actually, the total receipts were Rs 1,03,458 crores. The Government has reason to smile. After the initial hiccups, major and minor snafus over a flawed design of the GST platform and an overburdened website, the GST was, after all, adapted by the taxpayers. The criticism that it was badly designed and hurriedly implemented without

  • Mahindra & Mahindra sales up 22% in April

    New Delhi: Automaker Mahindra & Mahindra today reported 22 per cent increase in total sales at 48,097 units in April, as against 39,417 units for the same month last year.  In the domestic market, M&M’s sales were up 19.34 per cent to 45,217 units last month as against 37,889 units a year ago, the company said in statement.

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    Huge potential for trade between India, southern African countries: Commerce minister Suresh Prabhu

    Johannesburg: India is ready and willing to assist in the development of southern African countries, Union Minister Suresh Prabhu said at a business summit here, asserting that the region holds a “huge potential” for trade. Commerce and Industry Minister Prabhu was leading a high level business delegation to Johannesburg to participate in the two-day India-South Africa Business Summit 2018 which began on April 29.

  • Does Reseller Hosting Make Business Sense?

    With the world moving towards web space, online presence for businesses has become a necessity. This has had a ripple effect, which necessitates every company to have a web presence. It is a no-brainer that the easiest way of having an online presence is to have a website.

  • Can Your Personal Credit Record Impact Your Business Loan?

    When availing a loan of any kind, whether it is to meet personal needs or business-related needs, you will have to have a sound credit score. Lenders evaluate this score to understand your previous behaviour with regards to credit, and to ascertain if you are fit to take on the responsibility of wisely using and repaying a loan.

  • Business with Thailand could grow faster

    Thailand is not unfamiliar to most Indian businessmen. The Aditya Birla group was one of the first to discover the advantages of investing in Thailand. This group’s interests span chlor-alkali products, epichlorohydrin epoxy resins sodium phosphates, specialty phosphates sodium sulphite and sodium metabisulphite among others.

  • ATC completes Rs 3,800-cr mobile tower deal with Vodafone India; Idea pact expected by May

    New Delhi: Telecom infrastructure firm American Tower Corporation (ATC) today announced that it has completed mobile tower purchase deal worth Rs 3,800 crore with Vodafone India through its Indian arm. ATC Telecom Infrastructure, a majority owned Indian subsidiary of ATC, has completed the transaction. This is a previously announced acquisition of Vodafone India’s telecom site business, which consists of approximately 10,200 communications sites, for a total cash consideration of about Rs 38

  • BSE Sensex

    Sensex begins FY19 on a firm note, rises over 100 pts

    Mumbai: Domestic equities opened on a firm note on the first trading day of the new financial year 2018-19 today, with Sensex reclaiming the 33,000-mark by rising over 100 points amid positive global cues. The 30-share BSE benchmark, which had lost 205.71 points on the last session of FY18 on Wednesday, rose 133.32 points, or 0.40 per cent, to 33,102.00.

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    Mumbai: BMC to take TRC from unregistered small shops

    Mumbai: The Brihanmumbai Municipal Corporation (BMC) will continue to take Trade Refusal Charges (TRC) on small shops and establishments even though they are not registered. This is basically a charge for generation of waste. After the new notification of state government under the ease of doing business small business outlets are no more required to register if having employees less than nine. Therefore, it was also assumed that the TRC will also

  • Pharma giant Glaxo acquire Novartis’s 37 percent shares for $13 billion

    Pharmaceutical giant GlaxoSmithKline Plc is buying 37 percent stakes of the other giant company Novartis. The company bought the shares for $13 billion. The company funded its purchase by selling its other companies such as Horlicks and other brands.

  • Vodafone-Idea merger in final stage of approval says Telecom Secretary

    New Delhi: The merger plan of telecom operators Vodafone India and Idea Cellular is in the “final stage of approval”, Telecom Secretary Aruna Sundararajan said today. The mega merger has already received the green light from NCLT and markets regulator SEBI, and according to Sundararajan, the telecom department “is in the process of expediting it”.

  • Bandhan Bank shares soar 33% on market debut

    New Delhi: Shares of Bandhan Bank made a stellar debut at the bourses today, surging 33 per cent against the issue price of Rs 375. The stock listed at Rs 485, a sharp gain of 29.33 per cent from the issue price on BSE. On NSE, shares of the company opened the day at Rs 499, a premium of 33 per cent.

  • BSE Sensex

    Sensex rises over 200 pts, Nifty tests 10,200

    Mumbai: The benchmark Sensex extended yesterday’s gains by rising over 200 points in early trade today, tracking firm global cues on reports of trade negotiations between the US and China, easing fears of a trade war. Investor sentiment was buoyed after the government announced borrowing of Rs 2.88 lakh crore in the April-September period of 2018-19, lower than Rs 3.72 lakh crore it had borrowed in the first half of the current

  • BSE Sensex

    Sensex, Nifty turn choppy on weak global cues

    Mumbai: The benchmark BSE Sensex extended volatility for the third straight day by shedding over 60 points in early trade today on selling by domestic institutional investors amid weakness in Asian markets on trade war concerns. Selling pressure on IT, Teck and oil & gas stocks, too, weighed on market sentiment. The 30-share index slipped 60.10 points, or 0.18 per cent, to 32,536.44.