Mumbai: India’s incremental earnings from overseas trade, anchored in potential investments from the likes of Apple and Foxconn, could surge by $160 billion by 2024, with New Delhi emerging as a feasible alternative to Beijing for manufacturing and other capital-intensive industries in a global de-risking of supply chains.An internal Citi report on India’s Atmanirbhar plan … Read more
Pharma companies are expected to maintain the growth momentum with companies such as Cipla and Dr Reddy’s gaining from the sale of drugs meant for Covid treatment. Synopsis According to the ET Intelligence Group’s estimates, aggregate net profit of the Nifty 50 companies is likely to grow by 30.4 per cent compared with a drop … Read more
There will be no World Economic Forum meetings in Davos next January, after the organizer said the coronavirus crisis had forced it to postpone the event in the Swiss alpine town, a highlight on the international business calendar, to next summer. The WEF’s founder and executive chairman, Klaus Schwab, had pitched the planned meeting as … Read more
At beleaguered European banks, coronavirus is fast-tracking plans for fundamental restructuring after years of poor performance. Many of the region’s most prominent lenders are tearing up old business models, cutting business lines or doubling down on domestic markets as they try to find a formula that works for them. HSBC Holdings PLC is… Source link
JOHANNESBURG—South Africa’s $1.5 billion wine industry is reeling after a series of pandemic-induced shocks, including successive bans on the sale of alcohol totaling some 14 weeks. The country’s Chardonnays and Cabernet Sauvignons have become household staples world-wide, and wineries centered in the rolling farmlands around the Western Cape are among South Africa’s most successful and … Read more
NEW DELHI: State-owned Bank of Baroda on Monday reported a standalone net loss of Rs 864 crore during the quarter ended June of the current fiscal year, due to higher provisions and contingencies. The bank had posted a net profit of Rs 710 crore in the same quarter a year ago. “On account of provisioning … Read more
Shares of Cipla inched up on heavy volumes on Friday, after the company’s first quarter earnings beat the consensus estimate. On the BSE, the stock closed at Rs 315.45, up 0.5% over its previous close, with 2.84 lakh shares — twice the 2-week average daily volume —being traded. Dealers tracking the stock said the ‘Big … Read more