Finance

Tax free bonds worth Rs 40,000-cr to hit street this fiscal

Tax-free bonds worth Rs 40,000 crore are set to hit the market this financial year, with the government having allowed seven entities to raise funds through this route. Experts believe these will attract investors, though it is agreed that the returns would be lower than what was offered in 2013-14. The Union Budget had announced these for infrastructure projects. These ... Read More »

Srei Equipment Finance on fundraising spree, plans $500 m debt issue

Srei Equipment Finance, an equal-stake joint venture between Srei Infra and with Paribas, is planning to raise about $500 million in tranches through a Medium Term Note (MTN) issue on the Singapore Stock Exchange. This comes shortly after parent Srei Infrastructure said it would mobilise up to Rs 1,000 crore through bonds in the domestic market. The whole of $500 ... Read More »

China ramps up efforts to halt stock market rout

China’s central bank stepped up state support for sinking stocks on Wednesday, as investors rushed to sell what they still could after a fresh wave of share suspensions that has halted trading in half the market. The Shanghai Composite closed down 5.9 per cent after falling as much as 8 per cent at the open. The Shenzhen index lost 2.5 ... Read More »

Walker office already acts as if records exemption is law

Madison— Gov. Scott Walker announced over the weekend that Republicans were abandoning their plan to create new exceptions to the state’s open records law, but for months the all-but-certain presidential candidate has been operating as if one exemption already was in place. Two months ago, Walker declined to release records related to his proposal to rewrite the University of Wisconsin ... Read More »

Greece news live: ‘Basis for deal exists’ as Juncker plays down Grexit fears ahead of today’s eurogroup meeting

• Greeks told they must come up with proposal by this afternoon for Eurogroup meeting • Juncker: a solution “won’t arrive overnight” • Capital controls bite as Dixons subsidiary pays staff in cash and pharmacies short of medicines • European Central Bank tightens noose as creditor powers punish Greece • Why are the Greeks celebrating, ask baffled Germans • Greek ... Read More »

Greece debt crisis: Finance Minister Varoufakis resigns

Greece’s outspoken finance minister has resigned, hours after voters backed his call to reject creditors’ demands for more austerity in a referendum. Yanis Varoufakis said it was felt his departure would be helpful in finding a solution to the country’s debt crisis. Eurozone finance ministers, with whom he repeatedly clashed, had wanted him removed, Mr Varoufakis explained. Meanwhile, global financial ... Read More »

Infosys CEO Sikka Hails Co-Founders for Building an Iconic Company

Seven co-founders of Infosys Ltd., led by N.R. Narayana Murthy, were hailed for their singular contribution in building an iconic IT behemoth by its first non-founder chief executive Vishal Sikka.”For someone who grew up in the world of technology and IT, I have tremendous respect for what Infosys’ founders have built over the past three decades,” Sikka told investors of ... Read More »

Comcast Founder, Cable Industry Leader Ralph Roberts Dies at 95

Comcast Corp founder and prominent cable industry executive Ralph Roberts died on Thursday at the age of 95, the company said. Roberts, who set up Comcast after he bought a small cable television operator in Tupelo, Mississippi in 1963, died of natural causes in Philadelphia, Comcast said in a statement. From selling ads to golf clubs and men’s accessories in ... Read More »

SoftBank Paid $135 Million for Former Google Executive Arora

Japan’s telecom carrier SoftBank paid vice president and ex-Google executive Nikesh Arora a whopping $135 million in the year to March, reports said Saturday. The amount included a one-time, sign-on bonus for the Indian-born 47-year-old, according to the Nikkei business daily and the Asahi Shimbun. Arora gave up his high-profile post at the Internet search giant to join the Japanese ... Read More »

Ericsson to Grow Outside Traditional Base With Direct Sales, Partners

Telecoms gear maker Ericsson’s goal of rapid sales growth to firms outside its traditional customer base will require a mix of direct sales and, eventually, partners to help winning new clients, the company and analysts said. The world’s biggest supplier of mobile network equipment, which 20 years ago had fixed-line products as its main revenue generator, is adapting to the ... Read More »