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    FM Logistic Reports 11.8 Per Cent Increase In Revenues

    FM Logistic has reported financial results for the fiscal year ended 31 March 2019. The company reported revenues of €1,318 million in the year ending March 2019, up 11.8 per cent year-on-year, and earnings before interest and taxes (EBIT) of €35.1 million, up 32 per cent from last fiscal year's €26.5 million.Adjusted for currency effects, revenue growth was 15 per cent. The EBIT...

    • an hour ago
  • News

    India's Monsoon Rains Below Average In Past Week, Raising Crop Worries

    India's monsoon rains were 20% below average in the week ending on Wednesday, the weather office said, as summer showers turned patchy over the central, western and southern parts of the country, raising concerns over the progress of crop plantings. Overall, India has received 16% below average rain since the monsoon season began on June 1. Monsoon rains are crucial for...

    • an hour ago
  • News

    Netflix To Roll Out Cheaper Mobile-Only Plan For India

    Netflix Inc said on Wednesday it would roll out a lower-priced mobile-only plan in India within the next three months to tap into a price-sensitive market at a time the streaming company is losing customers in its home turf. India is among the last big growth markets for the company, where it faces competition from Amazon.com Inc's Prime Video and Hotstar, a video streaming platform...

    • 2 hrs ago
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    Rupee Rises Marginally By 9 Paise To 68.73 Vs USD In Early Trade

    The rupee appreciated marginally by 9 paise to 68.73 against the US dollar in opening trade Thursday, driven by weakening of the US dollar vis-a-vis other currencies overseas. Forex traders said the local unit rose tracking gains in other Asian peers. Moreover, selling of the American currency by exporters also supported the domestic unit. The rupee opened strong at 68.76 at the...

    • 2 hrs ago
  • News

    Innoviti Sues Pine Labs For IPR Infringement

    Leading payments solution provider, Innoviti today announced that it has now begun legal enforcement of its patent rights, in view of several instances of commercial organizations in India being involved in selling/offering for sale payment products that may infringe on Innoviti's patent for the payments processing technology that enables UPI payments at retail POS terminals. Innoviti has filed a...

    • 2 hrs ago
  • News

    Former JPMorgan Senior Banker Pleads Not Guilty To HK Bribery Charges

    A former JPMorgan Asia investment banking vice-chair, Catherine Leung, pleaded not guilty to charges of bribery in a Hong Kong court on Thursday. Leung was charged in May by Hong Kong's Independent Commission Against Corruption with bribing the then chairman of a potential client, a logistics company, by employing his son at the US investment bank. While Hong Kong's...

    • 2 hrs ago
  • News

    Gold Retraces From Two-week Peak As Investors Lock In Profits

    Gold prices pulled back from a two-week high to trade lower on Thursday, as some investors took advantage of the last session's gain to book profits. Spot gold was down 0.3% at $1,422.40 per ounce, as of 0546 GMT, after hitting its highest since July 3 at $1,428.40. It rose nearly 1.5% in the previous session as the dollar slipped after weaker-than-expected U.S. housing data...

    • 2 hrs ago
  • News

    Short Bets On Most Asian Currencies Recede On Fed Rate-cut Prospects

    Investors cut bearish bets on most Asian units and went long on the rupiah for the first time in nearly three months, a Reuters poll showed, as hopes of the U.S. Federal Reserve trimming interest rates weakened prospects for the greenback. Despite a raft of strong US economic data lately, concerns over the U.S.-China trade tensions and weak inflation have turned most Fed...

    • 2 hrs ago
  • News

    CARE Ratings Sends CEO Rajesh Mokashi On Leave Pending Inquiry

    India's CARE Ratings Ltd has placed Chief Executive Officer Rajesh Mokashi on leave until further notice, the company said late on Wednesday, making it the second rating agency to do so amid regulatory concerns. Earlier this month, ICRA Ltd, the Indian unit of Moody's Investors Service, placed its Chief Executive Officer Naresh Takkar on leave after SEBI forwarded concerns...

    • 2 hrs ago
  • News

    Boeing To Make $50 Million In Payments To 737 MAX Crash Victims' Families

    Boeing Co said on Wednesday it will dedicate half of a $100 million fund it created after two crashes of its 737 MAX planes to provide payments to families of those killed, with veteran U.S. compensation expert Ken Feinberg hired by the world's largest plane maker to oversee the distribution. The announcement of Feinberg's hiring came minutes before a US House of...

    • 2 hrs ago

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