Category: Business

Tata Steel and thyssenkrupp JV will be second-largest European flat steel producer

Newsroom24x7 Network Singapore/Mumbai: Tata Steel Limited’s (TSL) memorandum of understanding with thyssenkrupp AG to create a 50:50 JV in Europe paves the way for TSL to reduce exposure to a structurally weaker business, says Fitch Ratings. However, according to Fitch, TSL’s Long-Term Issuer Default Rating (IDR) of ‘BB’ remains on Rating Watch Evolving until further

Continue reading

India has emerged as a leading investment destination: Suresh Prabhu

Newsroom24x7 Network Minister for Commerce and Industry meets captains of top Korean industries Seoul, South Korea: Minister for Commerce and Industry, Suresh Prabhu spoke of India’s emergence as one of the world’s leading investment destination and commitment to promoting free and fair world trade at the 7th Asia-Europe Economic Ministers (ASEM) meeting on Friday. Prabhu

Continue reading

Atul Malikram: The force and spirit behind PR24X7

Newsroom24x7 Network In the year 2001, Atul Malikram established PR24X7 and set off on his chosen journey. His associate joined him later and what began as his solo journey soon turned into a caravan. Presently, PR24X7 centres are operating in more than 46 cities across 18 states in India, where a trained team of more

Continue reading

“The Art of Weddings’ across India: A Radisson BLU initiative

Newsroom24x7 Business Desk India is a very important market for us where we are committed to strengthening our brand presence. The ‘Art of Weddings’ taps on the huge potential of the wedding market in India and is unique in its targeting, delivery and reach. The campaign is designed to create personalised wedding experiences and we

Continue reading

Looking for office space in Indore – Go grab it at Bhadaas Café

Newsroom24x7 Business desk Indore: If you are engaged in marketing, running a business enterprise, or heading a not-for-profit organisation but lack the essential office space where you can work, have business meetings, strike deals and entertain prospective clients then we can surely provide a solution. //pagead2.googlesyndication.com/pagead/js/adsbygoogle.js (adsbygoogle = window.adsbygoogle || []).push({}); Bhadas Café is offering

Continue reading

Mahindra announces launch of new electric CitySmart Car, the ‘e2oPlus’

Newsroom24x7 Auto Desk The e2oPlus marks the entry of electric vehicles in one the most prominent emerging state capitals of the country. The e2oPlus marks the entry of electric vehicles in one the most prominent emerging state capitals of the country. Price starts at Rs. 7.46lacs (for the P4 variant ex-showroom Chhattisgarh, post FAME incentive)

Continue reading

Global Entrepreneurship Summit will focus on supporting women entrepreneurs

Women First, Prosperity for All Newsroom24x7 Staff Washington DC: The United States and India will co-host the Global Entrepreneurship Summit (GES) November 28-30 in Hyderabad, India. Advisor to the US President Ivanka Trump will lead the United States’ delegation to the Summit, which will focus on supporting women entrepreneurs and fostering economic growth globally. //pagead2.googlesyndication.com/pagead/js/adsbygoogle.js

Continue reading

New Bond rules reduce Indian Corporates’ funding options

Newsroom24x7 Network Singapore/Mumbai: New, tighter regulations on foreign holdings of Indian rupee-denominated corporate bonds and offshore issuance will reduce options for companies to diversify their funding sources, at least temporarily, Fitch Ratings says. The rules will also prevent the use of certain complex transaction structures, which have recently gained popularity among corporate issuers. The Securities

Continue reading

India’s 4G market to expand with Jio’s cheap handset

Newsroom24x7 Network Singapore: Reliance Jio’s plan to introduce a cheap 4G handset in September 2017 will accelerate internet adoption in India and should help reverse the recent decline in telecoms industry revenue, says Fitch Ratings. Jio, a subsidiary of Reliance Industries, is likely to gain revenue market share as the new handset allows it to

Continue reading

GST will be negative for some sectors in India

Newsroom24x7 Network Mumbai: A special report published today by Fitch Ratings projects that India’s new Goods and Services Tax (GST) is likely to have a negative impact on the oil & gas, traditional retail and SME sectors.   //pagead2.googlesyndication.com/pagead/js/adsbygoogle.js (adsbygoogle = window.adsbygoogle || []).push({}); Fitch Ratings’ latest Special Report, published today says that GST may have

Continue reading

“I shall never again make any booking through #MakeMyTrip”

Newsroom24x7 Staff Bengaluru: The former Executive Director Madhya Pradesh State Tourism Development Corporation G S Chahal, has had such a harrowing experience with MakeMyTrip, an online travel e-commerce company, that he has been forced to resolve that he would  never again make any booking through #MakeMyTrip. Narrating his unpleasant experience, Chahal said that he had

Continue reading

Fitch downgrades Reliance Communications Limited’s Default Ratings

Newsroom24x7 Network Singapore/Hong Kong: Fitch Ratings has downgraded India-based Reliance Communications Limited’s (Rcom) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to ‘CCC’ from ‘B+’. Fitch has also downgraded the rating on Rcom’s USD300 million 6.5% senior secured notes due 2020 to ‘CCC/RR4’ from ‘B+/RR4’. The Rating Watch Negative on the IDRs and notes, which

Continue reading

India’s sovereign ratings balance: Fitch points to weak fiscal position and difficult business environment

Newsroom24x7 Network India’s Long-Term Foreign- and Local-Currency Issuer Default Ratings is affirmed at ‘BBB-‘. The Outlooks are Stable. The Country Ceiling is also affirmed at ‘BBB-‘ and the Short-Term Foreign- and Local-Currency IDRs are affirmed at ‘F3’. –Fitch Ratings Hong Kong: On India’s sovereign ratings balance, Fitch Ratings has affirmed a strong medium-term growth outlook

Continue reading