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GATEWAY DISTRIPARKS

Promoter Prem Kishan Gupta bought 6 lakh shares, or 0.6 percent equity, at Rs 198 each

INDIAN HOTELS CO

Auction for Co's Taj Mansingh hotel put off for the third time

Earlier this month, NDMC, which owns the property, had revised the auction date

Date now extended for the third time to Mar 7

NDMC: New Delhi Municipal Council

Business Standard Reports

SRS

Board Approves selling off Cinemas and Retail Business to Spencer's retail for Rs38cr

SIEMENS

To sell Mobility division and Rail Traction Drives business to parent Co

To sell the 2 divisions as part of MoU of parent with Alstom SA

Mobility Division accounts for 10.46% of turnover

To set up standalone co for Mechanical Drives business

To sell Mechanical Drives business to Parent co

Mechanical drive business contributes 4.69% of the turnover

SIEMENS

To sell Mobility division and Rail Traction Drives business to parent Co

To sell the 2 divisions as part of MoU of parent with Alstom SA

Mobility Division accounts for 10.46% of turnover

To set up standalone co for Mechanical Drives business

To sell Mechanical Drives business to Parent co

Mechanical drive business contributes 4.69% of the turnover

  • SENSEX

    33,819.50 25.36   (-0.07 %)
  • NIFTY

    10,382.70 14.75   (-0.14 %)
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Steel Wars: Bad Loans, Good Steel

News In Brief

 

    UK will be able to sign trade deals during Brexit transition: May's spokesman

    London: Britain will be able to agree and sign trade deals during a transition period after it leaves the European Union, Prime Minister Theresa May’s spokesman said on Thursday after some Brexit campaigners feared a new document cast doubt on the ability to trade independently.

    “We have been clear throughout that we can agree and sign trade deals during the implementation period,” the spokesman told reporters, “and the European Commission’s own guidelines, we believe, reflect that.”

    (Reuters)

    Russian opposition leader Navalny released in Moscow

    Moscow: Russian opposition leader Alexei Navalny was released by police on Thursday less than an hour after he was detained in Moscow. 

    Navalny tweeted that he had been released and given a document on legal procedures against him for organising unsanctioned protests. “I don’t know what it was and why seven people detained me,” Navalny tweeted.

    (Reuters)

    Russian opposition leader Navalny says detained by police: Tweet

    Moscow: Russian opposition leader Alexei Navalny said on Thursday he had been detained by police.

    Navalny said on Twitter that he was detained by police as he was leaving the dentist. “They are taking me somewhere,” he said. Navalny’s tweet came not long after his campaign chief, Leonid Volkov, also said on Twitter that he had been detained by police at Moscow’s Sheremetyevo airport.

    (Reuters)

     

    Dutch prosecutors say won't open criminal case against big tobacco firms

    Amsterdam: Dutch prosecutors on Thursday rejected a call by civil groups, hospitals and the city of Amsterdam to open a criminal case against major tobacco companies, saying the firms had adequately warned smokers of the health risks. 

    The groups filed a formal complaint in 2016 accusing four major tobacco companies of a range of offences, including misleading marketing and causing deaths. “It is the smoker – aware of the health risks – who accepts the considerable chance of any resulting health damage by starting to smoke or, having already started, not choosing to quit,” the prosecutors said in a statement dismissing the case.

    (Reuters)

    Parrikar presents Budget in state assembly after being discharged from hospital

    Panaji: Goa Chief Minister Manohar Parrikar on Thursday presented Budget in state assembly after being discharged from a Mumbai hospital.

    (PTI)

    Latvia's ABLV says customers pledged to keep millions on long term deposit

    Frankfurt: More than 1,000 customers at Latvian bank ABLV have pledged to keep 420 million euros (371.71 million pounds) in long term deposits of between 6 months and one year, a spokesman for the bank said on Thursday, outlining one pillar of a plan to stabilise the lender.

    He confirmed that those depositors’ commitment would hold should a moratorium restricting payments and withdrawals at the bank be lifted. That sum comes on top of other long term deposits held at the lender.

    (Reuters) 

    Syrian Kurdish YPG says pro-government forces deployed on Afrin frontlines

    Beirut: The Syrian Kurdish YPG militia said on Thursday that hundreds of pro-Damascus fighters had deployed on frontlines in Syria’s Afrin region to help counter a Turkish offensive.

    “Groups aligned to the Syrian army came to Afrin, but not in the quantity or capacity to stop the Turkish occupation,” YPG spokesman Nouri Mahmoud told Reuters. “The Syrian army must fulfill its duty... to protect Syria’s borders.” Mahmoud also denied that any Syrian government forces or institutions had entered a district in Aleppo under the control of Syrian Kurdish fighters.

    (Reuters)

    Iraq says handed over four women, 27 children suspected of Islamic State ties to Russia: Iraqi local tv

    Erbil, Iraq: Iraq has handed over to Russia four women and 27 children suspected of having ties to the Islamic State militant group, local television broadcaster Al-Sumaria quoted the foreign ministry as saying on Thursday. 

    “Iraq has returned to Russia 27 children and 4 women who were tricked into joining Daesh,” the ministry spokesman told reporters, using the Arabic acronym for Islamic State.

    (Reuters)

    Net migration into Britain falls in year to September 2017: ONS

    London: The number of people migrating into Britain from other countries fell to 244,000 during the year to September 2017, down 29,000 from the same point in 2016, official data showed on Thursday. 

    The Office for National Statistics said net migration into Britain from the European Union - while still positive - had fallen, as fewer EU citizens were coming to Britain and more were leaving.  Net migration to Britain from non-EU countries increased in the year to September.

    (Reuters) 

    Syrian government forces enter Kurdish-held Aleppo area: Witness

    Beirut: Syrian government forces entered an area of Aleppo controlled by Kurdish militia, a witness in the city and a Britain-based war monitor said on Thursday. 

    The witness said government forces had entered the al-Halak, Bani Zaid and Bustan al-Basha neighbourhoods, which are controlled by the Kurdish YPG militia. The Syrian Observatory for Human Rights said government forces had started to enter the areas in the north of Aleppo city controlled by Kurdish forces.

     (Reuters)

    Saudi Arabia to invest USD 64 bn in entertainment in next decade

    Riyadh: Saudi Arabia is to invest USD 64 billion in its entertainment sector over the coming decade, an official said today, as the kingdom pursues a programme of social and economic reforms.

    General Entertainment Authority chief Ahmad bin Aqeel al-Khatib said the money will come from both the government and the private sector.

    (PTI)

    Iran says we do not want nuclear weapons, there is no sunset clause in nuclear deal

    London: Iran’s commitment to not seek nuclear weapons is permanent and there is no so-called sunset clause in the Iran nuclear deal, the country’s Deputy Foreign Minister Abbas Araqchi said on Thursday.

    The United States wants flaws in what it calls sunset clauses in the 2015 Iranian nuclear deal to be reworked. “There is no sunset clause in the JCPOA,” Araqchi said. “Although the U.S. administration and Trump are talking about sunset clause and that JCPOA is just for 10 years, that is not true,” he said. “Iran’s commitment in the JCPOA not to go for the nuclear weapon is permanent.”

    (Reuters)

    Spain's Repsol agrees to sell Gas Natural stake to CVC

    Madrid: Spain’s Repsol (REP.MC) said on Thursday it had reached an agreement with Rioja Bidco Shareholdings, controlled by private equity firm CVC Capital Partners, to sell its 20.07 percent stake in Gas Natural for 3.82 billion euros ($4.69 billion).

    The price was equivalent to 19 euros per share, Repsol said in a statement. Capital gains from the sale were around 400 million euros, it said.

    (Reuters) 

    Japan MOF's Asakawa: to actively engage in G20 debate on cryptocurrencies

    Tokyo: Japan’s top financial diplomat Masatsugu Asakawa said on Thursday that G20 finance leaders would raise the issue of cryptocurrencies at their meeting in Buenos Aires in March.   

    Asakawa, vice finance minister for international affairs, told a symposium that Japan would “actively engage” in G20 debate on cryptocurrencies.

     (Reuters)

    Centrica raises cost savings target, to cut 4,000 jobs by 2020

    Britain’s largest energy supplier Centrica, which issued a profit warning in November, raised its cost savings target by 500 million pounds and said it would cut about 4,000 jobs by 2020.

    The company, which also reported a 17.4 percent fall in full-year operating profit, said the additional savings would take the total targeted cost savings to 1.25 billion pounds per annum by 2020. The company said it expects to reduce about 1,000 jobs on a like-for-like basis in 2018 and save about 200 million pounds.

    (Reuters)

    British American sales, profit helped by Reynolds deal

    London: British American Tobacco (BATS.L) reported higher full-year sales and profits on Thursday, helped by the acquisition of Reynolds American and market share gains.

    The maker of Dunhill and Lucky Strike cigarettes said revenue rose 37.6 percent to 20.29 billion pounds. Adjusted organic revenue rose 2.9 percent. Global cigarette sales volumes are in decline as more people cut back or quit smoking.

    (Reuters)

     

    Recruiter Hays reports higher first-half profit

    British recruiter Hays posted a 16 percent rise in first-half profit, helped by growth in its international business and cost controls in its domestic market, where hiring has been hit by uncertainty since Britain voted to leave the EU.

    The company, which places workers in areas such as finance and IT, said group operating profit rose to 116.5 million pounds in the six months ended Dec. 31, from 100.1 million pounds a year ago. On a like-for-like basis, profit rose 14 percent.

    (Reuters)

    Intu posts higher NAV in 2017

    British shopping centre landlord Intu Properties Plc reported a small rise in full-year NAV, helped by strong tenant demand. 

    The owner of popular shopping malls such as Manchester’s Trafford centre said adjusted diluted net asset value per share (NAV) rose to 411 pence for the year ended Dec. 31, from 404 pence a year ago. The company said full-year like-for-like net rental income grew 0.5 percent.

    (Reuters)

    Playtech's 2017 revenue up 18 percent on gaming unit boost

    British gambling technology company Playtech posted a 18 percent rise in annual revenue, helped by strong performance of its gaming business. 

    Gaming division revenue at the maker of software that runs fixed-odds betting terminals grew 17 percent to 722.2 million euros (637.1 million pounds) as recent acquisitions helped drive sales.  Group revenue for the full year was 807.1 million euros

    (Reuters) 

    Morgan Sindall posts 48 percent jump in full-year pretax profit

    Britain’s Morgan Sindall Group Plc on Thursday reported a 48 percent rise in annual pretax profit, helped by a strong performance in its office installation and refurbishment business.

      The building and infrastructure company said pretax profit rose to 64.9 million pounds ($90.07 million) for the year ended Dec. 31, from 43.9 million pounds in 2016.  Its order book rose 6 percent to 3.8 billion pounds.

    (Reuters) 

    Rathbone Brothers full year pretax profit up 17.6 percent

    London: British wealth and investment manager Rathbone Brothers on Thursday posted a 17.6 percent increase in pretax profit, boosted by record assets under management on the back of market gains and net inflows. 

    Pretax profit rose to 58.9 million pounds in the year to end-December, it said in a preliminary results statement, up from 50.1 million pounds in the prior-year period. Rathbones said the board recommended a final dividend of 39 pence.  Assets under management during the period hit a record 39.1 billion pounds, it said

    (Reuters) 

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