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- #10: Star Wars Photo General Grievous 8 x 10 inch Photo at controls
- #10: Hanes Men’s ComfortSoft T-Shirt (Pack of 4)
- #9: CH Hanson 03040 Magnetic Stud Finder
- Heavy rains batter West Bengal, flights affected
- #10: Sparx Men’s Athletic & Outdoor Sandals
- Deutsche Bank shares down 1.3% in mid-morning trade
- #10: Hot Wheels 9 Car Gift Pack (Styles/Color May Vary)
- #9: Dettol Original Soap,BUY 3 GET 1 FREE Dettol Original Soap, 125g
- Engadget UK giveaway: Win an iPhone 8 courtesy of Casetify
- Black lawmakers call on Facebook and Twitter to purge racist ads
- HC issues notice to TN govt on Deepa’s plea claiming right over Jaya’s property
- KPTL bags Rs 1,057 crore orders
- Shell launches programme to support energy startups
- ECB says interest rate risk ‘well managed’ in most European banks
- Gautam Singhania no more the ‘complete man’, family tells him to stop being greedy
- Reliance Commercial Finance inks agreement with IREDA for Rs 300 cr loan
- GIC IPO to open on Wednesday; here’s what you must know
- Opec finds an unlikely savior as enemies become friends
- Millennium & Copthorne Hotels rallies 22% after takeover offer
- Spain’s IBEX 35 rises 1%, extending gain in morning trade
- Accor shares rise 0.9% after $917 million bid for Mantra Group
- China denies carrying out cyberattacks against US-based activist
- Black Diwali? Consumer pessimism may play spoilsport
- Bond party set to cool in India as inflation, fiscal risks loom
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| Heavy rains batter West Bengal, flights affected Posted: 09 Oct 2017 02:36 AM PDT Heavy rains accompanied by gusty winds lashed the southern districts of West Bengal including the metropolis since late last night and continued on Monday with the Met department forecasting more downpour and strong winds till tomorrow. The Incessant rains and squally winds affected life in the city as traffic on several major thoroughfares were badly affected due to waterlogging and uprooted trees. Sources in the NSCB International Airport said, inclement weather has forced authorities to divert 26 flights enroute Kolkata. Departures were also affected as flights were delayed due to heavy rains and some waterlogging in parts of the runways, they said. The local weather office said, a deep depression has formed over Gangetic West Bengal and adjoining north Bay of Bengal. “The depression was lying centred about 50 km southeast of Kolkata at 5.30 am today and is likely to move west-northwestwards and intensifying further in the next 24 hours,” the Met department said. A senior Met department official said, the deep depression is likely to bring rains across Gangetic West Bengal, north Odisha and east Jharkhand, with heavy to very heavy rainfall at isolated places till Wednesday noon. The weather office said, wind gusts reached 45 to 55 km per hour since last night along the north Odisha and West Bengal coasts with very rough seas. Gusts of over 65 km per hour was also likely in these areas with wind speed of upto 50 kms over interior areas of Gangetic West Bengal, they said adding, fishermen have been asked to stay away from seas. Suburban and long distance train services of both Eastern and South Eastern Railways were slightly affected in the morning due to the rains. ER spokesman R N Mahapatra and SER spokesman Sanjoy Ghosh said all senior officials were monitoring train running from both Howrah and Sealdah as well as Kolkata terminal stations. Source: DH |
| #10: Sparx Men’s Athletic & Outdoor Sandals Posted: 09 Oct 2017 02:24 AM PDT  Sparx Men’s Athletic & Outdoor Sandals Buy: 467.00 – 699.00 (Visit the Bestsellers in Shoes & Handbags list for authoritative information on this product’s current rank.) |
| Deutsche Bank shares down 1.3% in mid-morning trade Posted: 09 Oct 2017 02:23 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.    
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| Engadget UK giveaway: Win an iPhone 8 courtesy of Casetify Posted: 09 Oct 2017 02:07 AM PDT
Source: engadget |
| Black lawmakers call on Facebook and Twitter to purge racist ads Posted: 09 Oct 2017 02:07 AM PDT
Source: engadget |
| HC issues notice to TN govt on Deepa’s plea claiming right over Jaya’s property Posted: 09 Oct 2017 02:01 AM PDT The Madras High Court on Monday issued notice to AIADMK government on a petition filed by late Jayalalithaas niece J Deepa against its decision to convert former chief minister multi-crore Poes residence in the city into a memorial. Deepa Jayakumar in her petition said that she and her brother J Deepak were the heirs to Jayalalithaas properties under under the Hindu Succession Act of 1956. She also contended that government took the decision to convert Jayalalithaas “Vedha Nilayam” house in Chennai into a memorial without consulting her. Deepa claimed that her paternal grandmother Vedavalli alias Sandhya had bought properties in and around Chennai and died in 1971. She said, therefore, her son Jayakumar and daughter Jayalalithaa lived at Poes residence. “Jayalalithaa died on December 5, 2016 leaving me and my brother as second class legal heirs to succeed my aunts entire estate, which includes Veda Nilayam in Poes Garden”, Deepa further claimed. Stating that she moved the court since the government had not considered her representation demanding to refrain from interfering with her right over the properties. When Deepas petition came up for hearing, Justice K Ravichandrabaabu ordered notice to chief secretary and concern authorities and posted the case to October 23 for further hearing. Source: DH |
| KPTL bags Rs 1,057 crore orders Posted: 09 Oct 2017 01:59 AM PDT NEW DELHI: Kalpataru Power Transmission Limited (KPTL) said on Monday it secured new orders and notification of award of Rs 1,057 crore. A company statement said the firm bagged two orders totalling Rs 913 crore for design, supply and construction of 500 kV and 225/90 kV transmission lines in Thailand and Africa. It won an order for pipeline installation and associated terminal works of KSPPL for Rs 144 crore. "These orders in southeast Asia and Africa help in building a solid base for growth in our International business. The order in our pipeline business highlights the confidence of our clients on us to deliver. We are confident of meeting our guidance," Manish Mohnot, Managing Director & CEO, KPTL said. |
| Shell launches programme to support energy startups Posted: 09 Oct 2017 01:01 AM PDT In an effort to bring more “energy” to the Indian startup community, energy major Shell India has invited all energy and IT startups to enter its pan-India programme, Shell E4 (Energising and Enabling Energy Entrepreneurs). Through the Shell E4 programme, Shell will be scouting for startups and businesses in early, pilot, or post-pilot stages to collaborate and work together on ideas that have the potential to impact the future of energy. Shell will work with the selected cohort for a period of six months and provide them with access to Shell’s Technology and IT labs in Bengaluru, technical and commercial mentorship from within and outside of Shell, access to potential customers through its network of partners and a fixed sum investment of $20,000 per startup. Under this programme, last date of application filing is November 17, 2017 and the first cohort will commence from December 4, 2017, the company said in a statement. Following the evaluation, the selected startups will form the 1st cohort and will be incubated with Shell for a period of 6 months at their campus in Bengaluru. As part of the incubation, the cohort will gain exposure to Shell’s advanced infrastructure and IT facilities; technical and commercial mentorship; an opportunity to pitch their ideas to other potential investors and an access to Shell’s network of partners and customers in India and abroad. In addition to this, Shell will also make a fixed amount of investment. Shell E4 will be located at the Shell Technology Centre Bengaluru (STCB) and, is well positioned to leverage the vibrant Bengaluru ecosystem. Commenting on the programme, Nitin Prasad, Chairman, Shell Companies in India, said, “With this programme, we aim to provide a platform to energy startups that have the potential to impact the future of energy. The Shell E4 Programme provides a platform for collaboration and conversation around valuable energy transitions, offering startups an opportunity to bring their ideas to life with Shells guidance and support.” The Shell E4 programme builds upon the company’s global vision to support the energy sector’s evolving ecosystem. Shell has a rich history of working with entrepreneurs across the energy value chain globally. For cleaner energy solutions, Shell also introduced Make The Future campaign, under which #makethefuture Accelerator India 2017 was concluded in March this year. The programme was a platform for millennials to showcase their bright energy ideas to build solutions for the future energy challenges both globally and in India. Source: DH |
| ECB says interest rate risk ‘well managed’ in most European banks Posted: 09 Oct 2017 12:43 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.  
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| Gautam Singhania no more the ‘complete man’, family tells him to stop being greedy Posted: 09 Oct 2017 12:39 AM PDT Source: ET |
| Reliance Commercial Finance inks agreement with IREDA for Rs 300 cr loan Posted: 09 Oct 2017 12:39 AM PDT Reliance Commercial Finance Ltd on Monday said it has signed an agreement with Indian Renewable Energy Development Agency Ltd (IREDA) for Rs 300 crore loan. In a statement, the company said the IREDA loan will be used to lend to renewable energy and energy efficiency projects. The Reliance Commercial Finance is a subsidiary of Reliance Capital while IREDA is a central public sector undertaking under Ministry of New and Renewable Energy. “Reliance Commercial Finance Limited is already a strong known name in the renewable energy funding space, especially related to solar and wind energy. Our partnership with IREDA opens new opportunities for us to create solutions for renewable power sector,” Devang Mody, Executive Director and CEO, Reliance Commercial Finance was quoted as saying in the statement. According to the company statement, Reliance Commercial Finance has funded wind and solar energy sectors of more than 1,800 MW. The company also provides financial assistance for developing infrastructure and other projects targeted towards the government initiatives on renewable energy. “With the funding we are confident that RCFL (Reliance Commercial Finance) will provide solutions and help fill any gaps in financing the Renewable Energy sector,” K.S. Popli, Chairman & Managing Director, IREDA, was quoted as saying in the statement. |
| GIC IPO to open on Wednesday; here’s what you must know Posted: 09 Oct 2017 12:39 AM PDT NEW DELHI: General Insurance Corp of India (GIC Re) is all set to kick off its mega Rs 11,370 crore initial public offer on Wednesday. This would be India’s third biggest IPO ever after Coal India’s Rs 15,200 crore and Reliance Power’s Rs 11,700 crore issues. Here’s what you need to know before investing in the issue. What is reinsurance? Reinsurance is insurance purchased by an insurance company from other insurance firms to manage their risk. Read more: http://ift.tt/2fogakb GIC writes reinsurance for every non-life and over half of the life insurance companies in India. GIC Re receives statutory cession of 5 per cent on each and every policy subject to certain limits. According to GIC Re, the capacity for each class of business on ‘Treaty and Facultative’ basis for domestic business is given below: How big is GIC Re? General Insurance Corporation of India (GIC Re) is the largest reinsurance company in India in terms of gross premiums accepted in fiscal 2017, and accounted for approximately 60 per cent of the premiums ceded by Indian insurers to reinsurers during fiscal 2017, according to CRISIL Research. GIC provides reinsurance across many key business lines including agriculture, marine, engineering, fire (property), motor, health, credit and financial and life insurance, among others. According to Crisil Research, GIC Re was ranked as the 12th largest global reinsurer in 2016 and the third largest Asian reinsurer in 2015, in terms of gross premiums accepted. What’s the issue size? The state-run reinsurer said it will sell 12,47,00,000 shares in Rs 855-912 apiece band in the IPO that will conclude on October13. The offer would constitute 14.22 per cent of the post-offer paid-up equity share capital. The company said it will offer a discount of Rs 45 per share to retail investors and eligible employees. Investors can bid for a minimum of 16 shares and in multiples of 16 thereafter. The company intends to utilise the net proceeds of the fresh issue towards augmenting the capital base of the corporation to support the growth of the business and to maintain current solvency levels and General corporate purposes, subject to applicable law. What the management says Alice G Vaidyan of GIC India said his company sees no threat or competition from foreign re-insurance companies because “anyway these foreign re-insurers were working in the Indian market from outside of India.” “It is now just that the regulations permit them to open office in India. They had a considerable market share for around 50 per cent even earlier and given the growth at which pace at which Indian market is growing, there is room for everyone to grow in this market and we will continue to maintain our dominant market share in the Indian re-insurance market. Financials Vaidyan said that FY17 was a very good year for his company. “We have completed a premium of Rs 33,741 crore, which was an 82 per cent increase over the previous year. I think the growth will stand well this year as well. We are in a very comfortable position as far as growth in the market is concerned for this year as well.” Data showed a healthy 29 per cent of GIC’s revenue came from agriculture segment, 20 per cent from motor, 12 per cent health and per cent from life reinsurance segments. The company’s gross premium has grown at a compounded annual growth rate (CAGR) of 24.84 per cent in FY15-17. On a consolidated basis, the company’s gross premium have grown at a CAGR of 48.65 per cent FY1517. Profit after tax (PAT) for the firm has grown at a 4.23 per cent annually during the period. Productivity, as measured by PAT per employee on a restated consolidated basis, improved to Rs 5.57 crore per employee in FY17 from ?5.5crore in FY15. What analysts say Jimeet Modi, CEO at Samco Securities said that GIC being a monopoly business should be subscribed to, given that the issue is fairly priced. “The stock must be held with ultra long term perspective for superior returns,” Modi said. “If you look at general finance sector, its valuations have steadily gone up over the last 5 to 10 years, as the market has figured out how to value such a sector. There is a business model. How do it expands, what are the cost, the capital requirement and other things — these are all testing phases. Only one or two listings have happened in the insurance space so far. So it is in a discovery phase for the market,” said Sunil Subramaniam, CEO, Sundaram Mutual Fund. “We have some more listings coming in terms of the insurance companies GIC and New India. So there will be supply and you will get what you call a price realisation,” Subramaniam said. Alice said that his company was seeing investor interest, both from foreign markets and from domestic markets. “Given the fact that GIC is in a very unique space as a reinsurer, with a dominant market share with a global book, firm financial balance sheet, diversified investment portfolio and a rating A minus, we are very confident that there is an investor appetite and the markets will respond very well to the issue,” he said. |
| Opec finds an unlikely savior as enemies become friends Posted: 09 Oct 2017 12:39 AM PDT By Julian Lee There’s nothing like a crisis to create unlikely friends and, goodness knows, there are enough crises in the Persian Gulf to create the unlikeliest of alliances. The visit by King Salman of Saudi Arabia to President Putin of Russia may not reflect a complete about-face by the desert kingdom, but it sends a very clear message that the US is no longer the only great power calling the shots in the Gulf. The relationship between the world’s two largest oil exporters has been growing closer ever since King Salman came to the throne and Mohammad bin Salman began his rise towards assuming the crown. The deal to cut oil production, which has helped stabilize prices and is beginning to drain excess stock, was only achieved through the collaboration of the two countries. Even though Opec countries have made much deeper cuts than their partners, action by Opec alone wouldn’t have been nearly so effective. Cooperation between Saudi and Russia has "breathed life back into Opec,” according to the kingdom’s oil minister Khalid Al-Falih, and the Russian president has indicated he is willing to extend cooperation beyond March 2018 if necessary. There’s no real chance Russia will seek to join Opec, nor that it would be welcomed. President Putin ruled out such a move on Wednesday. But he’ll continue to work with the group when their interests coincide. Russia’s help on the oil price hasn’t gone unnoticed and Salman’s visit — plus the deals that go with it — are part of the reward. They’d have been unthinkable five years ago. Now, they reflect Russia’s importance in the Gulf; in particular, its dominant role in Syria. Spending $3 billion on Russia’s S400 air defense missile system is tiny compared with May’s $110-billion deal with the US, but that it happened at all shows alliances are shifting. Securing Gulf oil may seem less vital to the US in the age of shale, but the region’s ability to influence oil prices — deliberately or accidentally — is undiminished. The Putin-Salman great pals act comes despite Moscow’s deep bond with Iran. That relationship isn’t about to change. Until the Soviet Union’s 1991 breakup, governments in Moscow and Tehran shared a common border of close to 1,200 miles, parts of which date to the 16th century. The Saudis clearly hope Russia can help keep Iran in check. Could a Russian entity even become a cornerstone investor in the Saudi Aramco IPO, scheduled for next year? Both parties deny any discussions, but access to cheap-to-extract Middle Eastern crude could be attractive to Rosneft Oil Co PJSC, much of whose future development portfolio consists of expensive Arctic oil that may be uneconomic in a $50 world. Russian oil companies have built a string of upstream assets in Iraq and are among early bidders for Iranian projects. Taking an Aramco stake isn’t unimaginable. In a barely disguised dig at the US, Putin explained Russia’s new-found attractiveness to Middle Eastern countries, saying (while keeping a straight face): “The most significant advantage we have is that we never double-deal. We are always honest with our partners.” That Moscow can speak directly with Saudi Arabia and Iran — something the US hasn’t been able to do since the ’70s – gives it a real chance to reduce tensions between the two, should it so choose. We’re a long way from seeing a Russian fleet based in the Gulf, but Moscow is showing itself as the emergent regional power and Riyadh seems to be playing along despite Iran. Don’t expect Putin to leave his new friend in the lurch by abandoning the Opec output deal. Russia’s playing the long game. This column does not necessarily reflect the opinion of Bloomberg LP and its owners. |
| Millennium & Copthorne Hotels rallies 22% after takeover offer Posted: 09 Oct 2017 12:38 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.  
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| Spain’s IBEX 35 rises 1%, extending gain in morning trade Posted: 09 Oct 2017 12:28 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.  
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| Accor shares rise 0.9% after $917 million bid for Mantra Group Posted: 09 Oct 2017 12:28 AM PDT This is a Real-time headline. These are breaking news, delivered the minute it happens, delivered ticker-tape style. Visit www.marketwatch.com or the quote page for more information about this breaking news.  
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| China denies carrying out cyberattacks against US-based activist Posted: 09 Oct 2017 12:22 AM PDT
Source: engadget |
| Black Diwali? Consumer pessimism may play spoilsport Posted: 09 Oct 2017 12:19 AM PDT Just as the festival season began, the Reserve Bank of India (RBI) released data that indicates pessimism reigns among consumers and there is less hope for improvement in general economic conditions compared to last year. The RBI’s results of the September 2017 round of the Consumer Confidence Survey, reflecting households' perceptions and expectations on the general economic situation, the employment scenario, the overall price situation and their own income and spending, showed the Current Situation Index waned further into the pessimistic zone, indicating deterioration in sentiment on the employment scenario, the price level and income. The same set of parameters caused the Future Expectations Index to slip further in the September 2017 round relative to its reading in the June 2017 round. With 27 per cent of respondents polling a fall in their current income, this overall sentiment moved into the pessimistic zone in the current round. The outlook on income, though optimistic, dipped further in relation to the June 2017 round. However, despite gloomy sentiment on income, more than 80 per cent of respondents reported increased spending over the past year which could partly be attributed to higher prices. The outlook on both essential and non-essential spending improved in the recent quarter. The results of Consumer Confidence Survey are in line with the RBI’s growth forecast which was slashed from 7.3 per cent to 6.7 per cent for fiscal 2017-18. The survey says that for 40.7 per cent of respondents the economic situation has worsened in September 2017 as against 25.3 per cent in the same period last year. For one-year-ahead expectation, 50.8 per cent said the economy would improve down from 57.7 per cent in same period last year. However, there was slight improvement in the sentiment over June 2017 round when 48.6 per cent said the economy would improve. More respondents thought economy had worsened. 40.7 per cent said the economy had worsened while 25.3 per cent said this in the same period last year. There is slight improvement over the June round when 32.4 per cent said economy had improved. In the September round, 34.6 per cent said the economy had improved. As many as 85.8 per cent respondents said spending would increase, up from 79.1 per cent in the same period last year. 83.2 per cent said spending had increased, up from 70.3 per cent last year. But the RBI says this could be due to higher prices and not improved sentiment. |
| Bond party set to cool in India as inflation, fiscal risks loom Posted: 09 Oct 2017 12:19 AM PDT By Kartik Goyal The bull run in Indian sovereign bonds is petering out as accelerating inflation and the risk of worsening public finances cloud the outlook for Asia's highest-yielding securities. The benchmark 10-year yield, up 24 basis points in 2017, may climb further as rising living costs prevent the Reserve Bank of India from cutting interest rates, according to HSBC Holdings Plc and Emkay Global Financial Services Ltd. A potential increase in government borrowing, which will boost debt supply, also threatens to depress bond prices, after the yield sank 231 basis points in the last three years. "The outlook for bonds is negative," said Manish Wadhawan, head of interest-rate trading at HSBC Holdings in Mumbai. That's because the "RBI is likely to be on a pause till December" and it is selling bonds via the open market at a time when banking-system liquidity is declining, he said. "Likely widening of the fiscal deficit is also a huge risk." The 10-year yield ended at 6.76 per cent on Friday, its highest close since mid-May, after the central bank left key rates unchanged last week, raised its inflation forecasts and reiterated the neutral policy stance. The yield, which already tops major Asian markets, will jump to 7 per cent or more by end of March, according to Emkay Global. RBI's move has seen bonds extend declines in October after posting their first back-to-back monthly losses since 2015. The selloff in one of region's most sought-after investment destinations has been amplified by government comments that it was considering measures to boost economic growth, which slowed to a three-year low last quarter. That's when the fiscal deficit for April to August has already reached 96.1 per cent of the full-year target. The administration isn't ruling out additional debt sales, Economic Affairs Secretary S.C. Garg said last month. Given that fiscal slippage looks "fait accompli," and the RBI is on a prolonged pause, "the outlook for the bond market looks dire," said Prasanna Ananthasubramanian, Mumbai-based chief economist at ICICI Securities Primary Dealership Ltd. He sees the 10-year yield ranging between 6.65 per cent and 6.85 per cent in the next two months. While local investors are pessimistic, their overseas peers such as Aberdeen Standard Investments and Pacific Investment Management Co. are viewing the selloff as a fresh reason to add to their bond positions in what's still one of the world's fastest-growing major economies. "India is still one of the standout markets over a three-to-five-year time horizon," said Adam McCabe, head of Asian fixed income at Aberdeen Standard. "It's still a reasonably high carry market. The recent selloff has been driven by concerns about fiscal slippage. It's not a key longer term concern." Draining Liquidity However, the restrictions on overseas investment in debt mean that foreigners — who have almost exhausted their bond-buying limit — have little sway over the market. Local state-run banks are the biggest holders of sovereign debt. Demand for bonds is likely to cool also due to central bank intervention to absorb the liquidity that was pumped into the banking system following the government's shock currency ban in November, according to HSBC's Wadhawan. He sees the yield in a range of 6.65 per cent to 6.80 per cent up to Dec. 31, up from a previously estimated band of 6.45 per cent to 6.65 per cent. "The best phase of the bond market may be behind us," said Dhananjay Sinha, head of institutional research at Emkay Global in Mumbai. Sentiment is turning "more and more bearish given that the RBI is likely to sound less neutral going ahead," he said. |
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