Category: Business

India homebuilders with UK assets face Brexit risks

Newsroom24x7 Desk Singapore: Indian homebuilders with significant investments in the London property market will face near-term challenges from Britain’s vote to leave the EU on June 23, says Fitch Ratings. Demand for luxury residential properties and commercial properties – the segments some Indian homebuilders have invested in – may remain weak at least over the coming

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IBM to open Blockchain Innovation Center in Singapore

Newsroom24x7 Staff Singapore: IBM (NYSE: IBM) today announced plans to establish the first IBM Center for Blockchain Innovation in Singapore. In the first collaboration of its kind with the Singapore Economic Development Board (EDB) and the Monetary Authority of Singapore (MAS), IBM Researchers will work with government, industries and academia to develop applications and solutions

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Lockheed Martin Initiates Exchange Offer for IT and Technical Services

Newsroom24x7 Staff New York: Lockheed Martin (NYSE: LMT) announced today the commencement of an exchange offer for the separation of its Information Systems & Global Solutions (IS&GS) business segment. This represents the next step in the proposed tax-efficient Reverse Morris Trust transaction with Leidos Holdings, Inc. (NYSE: LDOS) announced on January 26. In the proposed

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Brexit result broadly credit negative for most UK sectors: Fitch

Newsroom24x7 Staff London: The “Leave” result in the UK referendum on membership of the European Union is credit negative for most sectors in the UK, due to weaker medium-term growth and investment prospects and uncertainty about future trade arrangements, Fitch Ratings says. Brexit will be moderately credit negative for the UK sovereign, Fitch points out

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Apple CEO meets Modi, talks of manufacturing and retailing in India

Newdroom24x7 Staff New Delhi: The CEO of Apple Inc., Tim Cook today met Prime Minister Narendra Modi and while sharing his company’s future plans spoke of the possibilities of manufacturing and retailing in India. Congratulating the Prime Minister on the recent election results, Mr. Cook talked about his visit to India, and said he had

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Weak demand is the biggest problem before the world: Raghuram Rajan

Newsroom24x7 Desk London: Reserve Bank of India Governor Raghuram Rajan has pointed to aggregate weak demand as the biggest problem before the world today. Dr. Rajan was addressing the inaugural event for the ‘100 Foot Journey Club’, a collaboration between the High Commission of India and the London School of Economics, South Asia Centre here

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Fitch Downgrades Steel Authority of India to ‘BB’, Outlook Negative

Newsroom24x7 Staff Singapore: Fitch Ratings has downgraded Steel Authority of India Limited’s (SAIL) Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB’ from ‘BBB-‘. The Outlook is Negative. The downgrade follows the deterioration in SAIL’s financial profile after a prolonged weakening in international steel prices. SAIL’s debt-funded capex programme has magnified the impact of weak prices.

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One-page registration form to promote ease of doing business for MSMEs

Newsroom24x7 Staff New Delhi: To promote ease of doing business for Micro, Small and Medium Enterprises, the Union Ministry of MSME has taken several initiatives and notified a simple one-page registration Form (UAM) last year. This is an important step to promote ease of doing business for MSMEs in India as the UAM replaces the

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Dubai International Boat Show: The number one marine, luxury and lifestyle event

Shaily Kalra Dubai: The 24th Dubai International Boat Show being organised here at International Marine Club is a mega event joined by 800 industrial and corporate houses from 55 countries. The International boat, which will run till March 5 was inaugurated by Shaikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai. With 24 years

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Australian Government’s first Landing Pad at RocketSpace

Newsroom247 Staff San Fransisco: Australian Minister for Trade and Investment, Steven Ciobo, Assistant Minister for Innovation, Wyatt Roy, and Special Envoy for Trade, Andrew Robb, this past weekend officially launched the Australian Government’s first Landing Pad at RocketSpace, a technology campus in San Francisco. San Fransisco: RocketSpace is the ultimate technology campus in San Francisco exclusively

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Madhya Pradesh offers a Single-table system for investment: Chouhan at “Make in India” Week in Mumbai

Newsroom24x7 Staff Mumbai: Madhya Pradesh Chief Minister Shivraj Singh Chouhan has said that country’s integrated development is possible only through all-round development of states. The Chief Minister was addressing the special “Make in India” event during Madhya Pradesh government’s presentation in Mumbai on 17 February 2016. The Chief Minister said that Madhya Pradesh has been

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Dubai all set to ring in 2016

Shaily Kalra Dubai: As we march towards the beginning of the new year, Dubai is once again getting all decked up to welcome people from across the globe who must be looking forward to seeing the magnificent Burj khalifa — the tallest artificial structure in the world, standing at 829.8 m. More than a million

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Capacity expansion and competition could hit the profitability of Indian and South-East Asian airlines in FY16

Newsroom24x7 Staff New Delhi: Improved earnings outlook is likely for Indian and South-East Asian Airlines in 2016, Fitch Ratings today said while projecting that stiff competition and a huge order book for new aircraft could make it difficult to improve profitability for the sector. As the passenger load factors (PLF) in India and south-east Asia have risen steadily,

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Air India caught in the trap of accumulated debt and losses

Lalit Shastri Again the same old story of a sick Indian PSU – the dilemma over the supremacy of process over delivery, the inherent reluctance to change and too many self proclaimed advisers. And the omnipresent fear of the vigilance and audit setups even among those whose primary job is to find innovative solutions and

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