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  • MGNREGA completes 10 years: After jibe, Modi govt now praises rural job plans | The Financial Express
    57 of all workers are women this year well above the statutory requirement of 33 and the highest in three years As many as 23 of person days are being done by SC workers and 18 by ST workers again the highest in three years Analysts said that even according to the ministry s data only 44 of all wage payments are being made on time Moreover they are divided over the efficacy of the scheme in lifting rural income and demand complaints of high level of leakages delays in payments poor quality of generated assets and a shortage of labourers for crop harvesting have always served to dampen its appeal Based on NSSO data for 2011 12 economist Surjit Bhalla had earlier argued that the scheme accounted for just 0 65 of total rural employment He had also said that as many as 60 of the beneficiaries were non poor and they even got 17 more workdays than the poor Since the start the expenditure on the programme has been to the tune of Rs 3 13 844 55 crore 71 of which has been spent on wage payments to workers the ministry said During the Budget session last year Modi had said Do you think I will put an end to the scheme My political wisdom does not allow me to do it This is a living monument of your failure to tackle poverty in 60 years With song and dance and drum beat I will continue with the scheme It noted that since the start of the programme the expenditure on the programme has amounted to over Rs 3 13 844 55 crore of which 71 has been spent on wage payments to workers Of the workers the percentage of Scheduled Caste workers has consistently been about 20 and Scheduled Tribe workers has been about 17 it said adding that a total of over 1 980 crore person days have been generated so far out of which the percentage worked by women has steadily increased much above the statutory minimum of 33 First Published on February 2 2016 1 16 am Tags Narendra Modi Please Wait while comments are loading More on this story Need new work culture of completing projects before time Narendra Modi Digital India Startup India American firms asked to take advantage of PM Narendra Modi initiatives Working effectively with Barack Obama can advance India s interest US Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections

    Original URL path: http://www.financialexpress.com/article/economy/rural-jobs-plan-from-jibe-to-pride/205552/ (2016-02-08)
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  • Big brands squeezed out to suburbia | The Financial Express
    in Delhi s upmarket Select City Walk mall in 2015 with GAP reportedly notching up sales of R23 lakh in the first month and H M debuting with an astronomical R1 crore on day one FE could not independently verify these sales numbers with the companies but they would be difficult to achieve in suburban locations If average trading densities are compared suburban malls deliver 40 less than High Street Phoenix and Palladium in Lower Parel Inditex owned clothing giant Zara globally H M s toughest competitor entered India five years ago at Select City Walk and moved to Palladium in Phoenix Mills shortly after In Select City Zara operates from an approximately 20 000 sq ft store and makes a revenue per sq ft of nearly Rs 6 000 In Palladium from its roughly 15 000 sq ft store it rakes in about Rs 4 500 per sq ft But in a catchment like Malad H M will be lucky if it can make more than Rs 2 000 per sq ft Even in suburban malls space is becoming a constraint Sources said that Lifestyle is relocating itself within the Inorbit mall to make space for H M Nirzar Jain vice president at Oberoi mall in Goregaon told FE that despite reducing the tenures of leases for existing occupants global retailers are having to wait out for more than 18 months sometimes The real estate crunch might be taking the sheen off big bang openings but the bigger brands are unlikely to suffer over the longer term Pankaj Renjhen director of retail services at JLL India points out that while there could be a lot of buzz post a launch or in the months that follow these are not indicative of how the brand fares over the longer term Also given retailers have big plans for India H M wants to roll out 50 stores in five years they can t lose too much time The American fashion brand Forever 21 started out in the suburbs and it 11 000 sq ft outlet has been fairly successful delivering approximately Rs 2 500 per sq ft However it doesn t strictly compete with brands such as H M that are more expensive Mukesh Kumar vice president at Infiniti mall believes there is a demand for fast fashion given the youth are both aware and aspirational First Published on February 2 2016 1 11 am Please Wait while comments are loading Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer

    Original URL path: http://www.financialexpress.com/article/industry/companies/big-brands-squeezed-out-to-suburbia/205551/ (2016-02-08)
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  • Priyanka Ghosh | The Financial Express
    showing few signs of easing and more cash being burnt by the day Zara Home homes in on India Inditex which owns fashion and clothing brand Zara is looking to launch its home furnishings line Zara Home in India three people familiar with the development said Zara Home specialises in home fabrics whether for the bedroom or kitchen High occupancy malls draw steep rental premiums With most malls in the country reporting low footfalls and occupancy rates retailers are opting to house themselves only in the better performing malls In distress developers sell flats in bulk at large discounts To be sure buyers will only stay with credible developers but the deeper the distress the deeper will be the discount the developer must cough up Malls woo H M willing to forego fix rentals As they line up to woo Hennes and Mauritz H M the Danish fashion brand top mall developers are willing to forego the fixed rentals they typically charge retailers Realty woes Some home truths for Sobha Developers PLAYING on one s home ground can be an advantage not merely for cricketers but real estate firms too Alibaba hiking its stake means big payout for Paytm We need around Rs 5 000 cr for the next three years but after this transaction we aren t going to raise any more money this year said Vijay Shekhar Sharma Co founder Paytm For most malls more is definitely not merrier Unable to pull in the crowds more than two dozen malls covering a combined space of around 4 million sq ft are expected to shut shop in the next few years Low footfalls force quick service restaurants to focus on home delivery Falling footfalls coupled with rising rentals in malls are forcing quick service restaurants QSRs and fast food joints to revisit their location strategies Lenders Orbit Corporation in tussle over dues Anxious about the distressed financial state of real estate players banks are working overtime to recover their dues SGX woos Indian firms to list assets as REITs The govt exempts REIT investments from the purview of MAT but retains the application of DDT which is making some players rethink their REIT plans 1 2 3 Editor s Pick How Zika virus infection can spread From mosquito bites to urine transmission top 5 points to note From Real Madrid to Chelsea Know the top 10 richest clubs New Mahindra cars at the Delhi Auto Expo 2016 Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s

    Original URL path: http://www.financialexpress.com/author/priyanka-ghosh/ (2016-02-08)
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  • KKR, Apax & Carlyle vie for stake in Apollo Hospitals unit | The Financial Express
    stock exchanges in October last year about the prospective stake sale According to sources in the initial round Apollo saw interest from around 20 domestic and foreign PE funds KKR already has an existing relationship with Apollo Hospitals while Apax partners was one of the early backers of Apollo Hospitals KKR has invested around R500 crore in PCR Investments the holding company of the promoter Prathap Reddy and family The transaction which took place in 2013 was in the form a callable security which allowed KKR to convert the debt into equity after five years while simultaneously allowing PCR investments the right to buy back the instruments at the end of two years However when contacted S Obul Reddy chief executive officer of PCR Investments said that the there are no plans to buy back yet Our relationship with KKR is long term and we are in no hurry to see them exit Reddy told FE Again Apax Partners which sold its 19 stake for R2 240 crore in Apollo Hospitals Enterprise in 2013 making good money on the the investment R680 crore is keen to invest in the business again Neeraj Garg CEO AHLL hinted the company would prefer a PE partner that brings it global reach AHEL which clocked annual revenues R5 178 crore in FY15 with a net profit of R339 crore has has said that it plans to add an additional 10 000 beds in FY16 A major chunk of the investment will go towards expanding the infant and maternity care chain Apollo Cradle which currently runs nine hospitals in India This year we will start another hospital in Hyderabad and a fertility clinic in Chennai and we plan to add between 3 to 4 hospitals every year going forward Garg told FE First Published on February 1 2016 1 39 am Tags Apollo Hospitals Please Wait while comments are loading More on this story WWF India and Apollo Hospitals join hands for welfare of forest staff Ravi Shankar Prasad launches government s new health initiative SEHAT ACC collaborates with Apollo Hospitals Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika

    Original URL path: http://www.financialexpress.com/article/economy/kkr-apax-carlyle-vie-for-stake-in-apollo-hospitals-unit/204990/ (2016-02-08)
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  • KPTL, Amin may buy into Jyoti Structures | The Financial Express
    creation Amin Group is a global entity with interests ranging from medical and health to power generation and transmission A KPTL spokesperson denied interest in Jyoti Structures and said in an emailed response There is no truth in it An email sent to Amin Group seeking comments remained unanswered In FY15 Jyoti Structures reported a net loss of R396 crore on the back of R3 111 crore in revenues and its interest expenses almost doubled to R426 crore in FY15 In Q1 FY16 Jyoti Structures reported a net loss of R152 crore owing to R158 crore in interest costs Bloomberg data shows that the firm s gross debt at the end of March 2015 was R2 356 crore up from R1 563 crore in FY14 Jyoti Structures debt was restructured by a JLF in September 2014 Headed by Prakash K Thakur as its vice chairman the company is promoted by K R Thakur 3 34 Prakash K Thakur 4 51 Valecha Infrastructrure 4 96 and Surya India Fingrowth 5 35 In its FY15 annual report the company blamed inaccessibility to adequate working capital for delay in execution erosion of margin reduction in profitability and availability of cash for operations leading to debt accumulation Lenders have 18 months from the date the SDR scheme is effective to find a buyer for the company Should banks fail to usher in a new promoter the asset would be classified as a non performing asset npa The strategic debt restructuring guidelines allow banks to convert debt to equity at a value which is not less than its face value and banks are not required to show a mark to market MTM loss or profit for SDR conversions The consortium of 21 lenders is led by State Bank of India Shares of Jyoti Structures closed at R14 65 on Friday up 1 03 from its previous close First Published on February 1 2016 1 37 am Please Wait while comments are loading Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed Galleries IPL 9 auction Market Capitalisation Employment index Vegetable oil import BSE Sensex more PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 New Mahindra cars at the Delhi Auto Expo 2016 In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s Day booster shot missing New Mahindra

    Original URL path: http://www.financialexpress.com/article/economy/kptl-amin-may-buy-into-jyoti-structures/204991/ (2016-02-08)
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  • No fiscal slippage by Centre in FY17 | The Financial Express
    to push growth at this time Unfortunately the growth multipliers on government spending at this juncture are likely to be much smaller than needed to outweigh the additional debt from fiscal expansion so more spending will probably hurt debt dynamics Rajan said The Centre s move to maintain the current fiscal road map however comes at a time when even global rating agencies have appreciated the possibility of slight deviations from it Moody s recently said a slight upward or downward movement in the targeted fiscal deficit numbers will not make any impact on India s sovereign ratings in the near term India s fiscal position is very weak Even if deficits targets are met the fiscal position will be weaker So even meeting the target is not going to do much for the ratings and a slight miss is likely to do with context rather than policy action Moody s associate managing director for sovereign ratings Atsi Sheth said Under the reserve price announced by the Telecom Regulatory Authority of India on Wednesday the Centre could garner decent amount in 2016 17 depending on the financial capability and appetite of telecom operators for the spectrum Although it is almost certain now that the FY16 ambitious disinvestment revenue target of R69 500 crore could be missed the Centre could adopt a more robust actionable plan to sell stakes in PSUs privatise some PSUs and sell a portion of its SUUTI Specified Undertaking of Unit Trust of India stake in Axis Bank Besides real estate of some of the PSUs could be monetised Among other measures the recent diktat by the Centre mandating PSUs to pay a uniform 30 of their profit after tax up from 20 30 in recent years as dividend and rationalisation of centrally sponsored schemes from 66 to 30 would help improve the government s finances The government is also in dialogue with the Reserve Bank of India for a special dividend and a decision in this regard could be taken after consultations with the central bank on the dividend policy are completed The Centre is eying a portion of R2 43 lakh crore that the RBI has kept in its internal reserves over the years This year RBI paid R65 896 crore as dividend up 25 from last year and with the special dividend the amount next year could be much higher As many of the headwinds to growth could continue the government might maintain the public spending tempo in FY17 The Centre s boost to capital spending in FY16 has yielded result as public investment and private consumption powered the 7 2 economic growth in the first half of FY16 despite weak demand and negative exports growth For adhering to the fiscal deficit target next year a lot depends on what happens to international oil prices and what happens to domestic growth said N R Bhanumurthy professor at National Institute of Public Finance and Policy On the subsidy front while fuel subsidy might come down

    Original URL path: http://www.financialexpress.com/article/economy/no-fiscal-slippage-by-centre-in-fy17/204987/ (2016-02-08)
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  • Online video gets an OTT push | The Financial Express
    original content as compared to just providing catch up content Moreover there are only a handful of major players in the market presently which signifies the need for more platforms to come up for the ecosystem to grow The transition to internet TV with its greater consumer satisfaction will mean growth for many internet TV services the Netflix spokesperson says But given the low cost of cable subscription in India can OTT video players put a compelling cost benefit proposition for mass adoption Because many DTH direct to home players like Tata Sky Dish TV and Videocon d2h are also giving competition to OTT platforms by launching their own mobile TV services or other unique content offerings Having said that India is a unique market and many experts believe that comparing the Western market with India on video consumption would be unfair While the West moved from desktop to mobile India has been predominantly mobile and will continue to be so says Milind Pathak chief operating officer Madhouse At the same time the geographical expansion of large OTT video portals such as Netflix and HOOQ is an endorsement of the fact that India is ripe for multi screen streaming options Netflix s entry will change the Indian market where people will have legal access to premium exclusive content across multiple digital screens says Dave Maan EVP video solutions TO THE NEW Digital Gaurav Gandhi COO Viacom18 Digital Ventures says there is a robust growth in video consumers with over 80 million users already streaming video and around 85 of internet consumption being done through mobile devices SVoD has been a very successful business model adopted in developed markets by players such as Netflix and Hulu On the other hand VoD players in India have adopted advertisement backed and subscription based revenue models Ad rates for VoD are one tenth of that of live television Hence recovering costs for licensed content becomes a challenge Subscription models on the other hand have had limited success on account of viewer unwillingness to pay Even with better 4G internet speeds affordable data packs and increase in smartphone penetration OTT players who create exclusive original content that plays seamlessly on all four screens smartphones tablets laptops and televisions with high quality streaming options like HD and ultra HD and all at the right price point will be the winners of tomorrow India s online ecosystem remains devoid of necessary infrastructure coupled with dismal broadband speeds Payment wallets for subscription services are just beginning to see the light of day In the OTT space India is still struggling to come up with a viable business model that enables returns First Published on February 1 2016 1 28 am Please Wait while comments are loading Calculators Tax Calculator House Loan Calculator Financial Planner Inflation Planner Pension Calculator Employee PF Calculator Equity Screener Auto Loan Retirement Plan Savings Investment Guidance Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno

    Original URL path: http://www.financialexpress.com/article/industry/companies/online-video-gets-an-ott-push/204986/ (2016-02-08)
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  • Chandni Mathur | The Financial Express
    richest clubs New Mahindra cars at the Delhi Auto Expo 2016 Videos BMW 7 series Merc S600 showcased at Auto Expo 2016 Auto Expo 2016 Maruti Suzuki Ignis Baleno RS unveiled Auto Expo 2016 Toyota Innova Crysta MPV makes its India debut Auto Expo 2016 New Hyundai Tucson SUV revealed In the news PM Narendra Modi inaugurates Paradeep oil refinery Top 10 takeaways Sunny Deol starrer Ghayal Once Again box office collections soar to Rs 14 85 cr by day 2 India s biotech moment A made in India Zika virus vaccine Sanam Teri Kasam collections at Rs 1 25 cr Valentine s Day booster shot missing New Mahindra cars at the Delhi Auto Expo 2016 From Real Madrid to Chelsea Know the top 10 richest clubs Earthquake in Taiwan Magnitude 6 4 quake kills 14 over 100 missing scores injured in Tainan Real Madrid s Cristiano Ronaldo 31 soccer star and entrepreneur All you need to know in 8 slides How Zika virus infection can spread From mosquito bites to urine transmission top 5 points to note International Fleet Review 2016 President Pranab Mukherjee reviews naval fleet Asteroid TX68 to pass by Earth on March 5 at 9 000 17 000 km distance NASA Earthquake in Nepal 5 5 magnitude quake injures 15 tremors rock Bihar too Horoscope By Peter Vidal Today 08 Feb This Week 07 Feb 13 Feb SAGITTARIUS Your choices are perfectly clear Loved ones or close companions may be unreasonable but there is probably no escape from emotional tension What you can do however is make a conscious decision to treat all differences of read more Home Markets 2016 02 07 10 49 39 Outlook GDP data Q3 earnings to set market tone GDP IIP and consumer inflation will dictate market movement this week say experts while blue chips SBI and ONGC are also lined up to release their third quarter earnings numbers Sensex end 278 points up on value buying Lupin Vedanta shares surge Top 10 stocks that trended in today s trade Jindal Steel Lupin and more RBI to buy back inflation indexed bonds maturing in 2023 Mutual Fund AUM falls for third straight month in January Companies 2016 02 07 11 47 07 India Post to invest Rs 322 crore to augment parcel capacity In a bid to strengthen its position in the e commerce market India Post has proposed to invest Rs 322 crore till 2019 20 to augment parcel handling capacity through which it projects to earn a revenue of Rs 1 608 crore Facebook bans pages selling medical marijuana in US Aamir Khan loses Snapdeal contract Lupin Q3 net profit dips 12 per cent to Rs 530 crore BSE Institute announces launch of new zone for startups Economy 2016 02 06 19 54 52 Arun Jaitley asks states to step up infra social sector spending Finance Minister Arun Jaitley today said he expects states to increase spending on infrastructure and poverty alleviation schemes as the 14th Finance Commission has

    Original URL path: http://www.financialexpress.com/author/chandni-mathur/ (2016-02-08)
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