Food processing can generate $33 bn in funds, 9 mn jobs by 2024: Study

The Indian food processing sector has the potential to attract $33 billion of investment and generate nine million person-days of employment by 2024, industry chamber Assocham said on Sunday, citing its study.

"By 2024, food processing sector is expected to employ nine million people in India and expected to generate about 8,000 direct and 80,000 indirect jobs in the state,"

Bank of England meets Hindu Council members over beef tallow in 5 pound note

The Bank of England invited members of the Hindu Council UK for a meeting over concerns that the new 5 pound polymer currency note contains traces of beef tallow -- an issue that has led to anger among vegans, Hindus, Sikhs and other communities in Britain.

The Hindu Council UK representatives - Chairman Umesh C. Sharma JP, Director of Interfaith Relations, Anil Bhanot OBE and Directo

Havells India to buy Lloyd Electric`s consumer business for $231 million

MUMBAI - Havells India Ltd, a leading maker of lights and fans, has agreed to buy a unit of Lloyd Electric and Engineering Ltd that sells air conditioners and televisions in a 15.5 billion-rupee deal ($231.14 million), the companies said.

The deal, expected to close in eight weeks subject to final due diligence, will help Havells expand its reach into the $15 bil

Jio competitors see washout in Q3, losses likely in Q4 too

The balance-sheet of major telecom operators in India -- Bharti Airtel, Idea Cellular and Reliance Communications -- came under major pressure in the third quarter (October-December) of the current fiscal and the trend is likely to continue in the fourth quarter, say the experts.

"Margin pressure on telcos will continue as long the free data offer from Reliance Jio continues. As

China's central bank to effect shift in monetary policy

 China's central bank is expected to shift away from its relatively easy monetary policy in an orderly manner, an investment bank report has said.

The People's Bank of China (PBOC) issued its quarterly report Friday, outlining its intention to implement a prudent and neutral monetary policy while keeping liquidity basically stable, Xinhua news agency said. 

Mongolia agrees $5.5 bln economic bailout plan with IMF, others

By Terrence Edwards

ULAANBAATAR - Mongolia has agreed with the International Monetary Fund and other partners for a $5.5 billion economic stabilization package, according to a statement from the IMF on Sunday.

The landlocked nation saw its economy grow at a double-digit annual rate over 2011-2013 as foreign investors rushed in to take advantage of its v

Panneerselvam lost the plot by himself: Experts

The inaction on the part of former Chief Minister O. Panneerselvam in carrying out some acts that would have aroused public support and also attracting the legislators in the opposite camp were the main reasons for him to lose the plot, experts said.

"The plot was lost by Panneerselvam. He was not able to attract more than 10 legislators (excluding himself) to his camp. He was no

China to halt coal imports from North Korea

China announced that it will suspend all coal imports from North Korea, a measure taken to comply with sanctions imposed on Pyongyang by the United Nations.

The ban will be in place through December 31, according to a joint statement by China's Ministry of Commerce and General Administration of Customs on Saturday, Efe news reported.

The statement said the decision was m

Mutual Fund industry expects AUM to reach Rs 35 lakh cr in five years

With growing retail participation, low interest rates, digitisation and introduction of new products, the mutual fund industry is expecting to double its assets under management (AUM) to Rs 35 lakh crore over the next five years, industry players said on Saturday.

As of January 31, 2017 the assets under management of the industry stood at Rs 17.37 lakh crore and industry members estim

State Bank of Travancore to raise Rs 600 crore

The State Bank of Travancore said on Saturday it plans to raise up to Rs 600 crore through issue of additional "Tier I bonds" by the way of private placement.

The bank informed the BSE that the executive committee of its board of directors approved the proposal at a meeting held on Saturday.

The State Bank of Travancore is proposed to be merged with the State Bank

GST Council has cleared draft compensation law: Jaitley

Finance Minister Arun Jaitley on Saturday said the Goods and Services Tax (GST) Council has cleared the draft compensation law -- one of the four enabling laws under the GST constitutional amendment - and hoped the remaining ones will be cleared in the next meeting ahead of the second half of Parliament's Budget Session.

"The GST's compensation law states that if any stat

Kerala Tourism to organise promotion event in Abu Dhabi

To attract cash-rich Arab travelers, the Kerala Tourism Department along with retail chain Lulu Group, is organising a four-day 'Explore Kerala @ Abu Dhabi' event from February 22.

"Considering tourist arrivals to Kerala from the Middle East, UAE is the second biggest market after Saudi Arabia. Kerala Tourism has identified the potential of the ever growing UAE tourism ma

Huawei tops China's smartphone shipments in Q4 2016: Report

 China shipped 131.6 million smartphones in in the fourth quarter of 2016 with Huawei topping the list, followed by Oppo and Vivo, a new report said on Saturday.

According to a report by Singapore-based market research firm Canalys, the smartphone shipments in China accounted for nearly a third of worldwide shipments.

"Smartphone shipments in China for the fourth q

First cargo vessel from Kolkata arrives at Dhaka river port

Paving way for direct cargo vessel movement between India and Bangladesh, the first container ship from Kolkata arrived at Dhaka's Panagon river port, media reports said.

The 'Shonartori Nou Kalyan-1' reached the Pangaon Inland Container Terminal at Keraniganj upazila on Friday with 65 containers on board, bdnews24.com reported.

With this -- the bilateral 'Co

ECB's Lautenschlaeger: if inflation rise persists, rate hike should come this year

BERLIN (Reuters) - European Central Bank board member Sabine Lautenschlaeger has said the ECB should raise interest rates before the end of the year if euro zone inflation establishes itself at the ECB's target level.

In an interview with German Deutschlandfunk radio to be aired on Sunday, Lautenschlaeger urged patience to see if inflation remained at the ECB's target of just

PSA chief executive to meet UK's May about Vauxhall takeover

By Laurence Frost and David Milliken

PARIS/LONDON - The chief executive of Peugeot manufacturer PSA Group will meet British Prime Minister Theresa May to discuss his firm's planned acquisition of General Motors' Opel and Vauxhall operations, a government spokesman said on Saturday.

Both Britain and Germany fear PSA will cut jobs if the takeover goes

Vatican froze two million euros in suspect funds in 2016

By Philip Pullella

VATICAN CITY - Vatican authorities froze more than two million euros in cases of suspected money laundering in 2016 as part of Pope Francis' drive to clean up the finances of the Holy See, its chief magistrate said on Saturday.

Gian Pietro Milano, whose official title is Promoter of Justice, made the disclosure during his annual addres

Iran finds 2 billion barrels shale oil reserves in western province - agency

DUBAI- Iran has found shale oil reserves of 2 billion barrels of light crude in its western Lorestan province, a senior official at the state-run National Iranian Oil Company (NIOC) was quoted as saying on Saturday.

"Based on studies, it is estimated that the shale oil reserves in Ghali Koh in Lorestan amount to 2 billion barrels of oil in place,” Bahman So

Stock Market Prediction 20th February 2017

* Ganesha once again reminds you that today and tomorrow, both are zero weightage days.

*If possible, just do delivery based trading today.

* The opening will be good, but thereafter Nifty may go down immediately, and till 12.30 remain on the down side.

* From 12.30 to 15.30, the overall view is slightly positive. But, some major corrections are also foreseen durin

It could be a decisive week for the markets after two weeks of consolidation - Religare

Below is the views on weekly technical recommendations by Mr. Jayant Manglik, President, Retail Distribution, Religare Securities Ltd

Markets managed to settle marginally in green amid volatility, continuing the consolidation phase. Cues were mixed on domestic front where contraction in IIP figure and an uptick in WPI inflation dampened the sentiment. Surprisingly, pa

Aditya Birla Fashion & Retail Update - Reliance Securities Ltd

Background & Business

Aditya Birla Fashion & Retail (ABFRL) – having extensive reach with a footprint of 6mn square feet in India – is considered to be India’s No.1 pure fashion lifestyle company having five largest and most admired brands i.e. Louis Philippe, Van Heusen, Allen Solly, Peter England & Pantaloons.

18/02/2017 5:44:26 PM | Posted in Special Event Reports read full news
India Strategy Curve steepening to reverse lazy trades in PSBs - Emkay

Shift in RBI’s monetary policy stance from accommodative to neutral has led to a sudden bear steepening of Gsec curve. This shift marks an end of the lazy trade in PSU bank (PSBs) stocks where optimism was led mainly by disproportionate trading gains. We see 10-15% downside in PSU bank index; Private players remain our preferred bets. We identify improvement in operating matrix for ICICI

18/02/2017 5:28:48 PM | Posted in Special Event Reports read full news
Oil Marketing Companies Decent show; Maintain BUY - Emkay

* OMCs reported decent results in Q3 driven by strong volume growth and inventory gains. Core earnings of OMCs adjusted for inventory gains/losses came in at Rs12.7/12.1/7.6/share for BPCL/HPCL/IOCL versus reported EPS of Rs15.7/15.7/8.4.

* Marketing margin of BPCL/IOCL improved by 2.3%/2% qoq to Rs4,143/3,860/mt. However, HPCL’s margin contracted qoq by 13.1% to Rs4,058/mt. Tot

18/02/2017 5:16:14 PM | Posted in Special Event Reports read full news
Bulls stage a spirited comeback - Sharekhan

Market on February 17, 2017: Resistance @ 8900

The Nifty had been in a consolidation mode for the last few sessions. But, in today’s session, it broke out on the upside with a significant gap-up opening. Recently, the benchmark index had broken out on the downside from the triangular pattern on the hourly chart, but had taken support near the par

Tata Steel looking at Myanmar, Bangladesh B2C markets

Tata Steel is looking at building a distribution network and its brands in the Business to Consumer (B2C) markets in Bangladesh and Myanmar, a company official said on Saturday.

"We have great success in developing brands and distribution network in B2C markets in India. Bangladesh and Myanmar are the two B2C markets which have similar profile as India. We are seeing opportunitie