Life of a finance head in the time of COVID-19 in Wallonia

Akash Ohri moved to the Seraing municipality in Liege province of Belgium as the Financial Controller for the industry sector at industrial machinery manufacturer John Cockerill Group in July 2019. The group, having a turnover of 1.3 billion euros, has five verticals and the industry sector is one of them. For Ohri, this move from India to Belgium was a transfer within the company because of a shuffle of responsibilities. Ohri is a board member of the Indian subsidiary CMI Industry Automation and the Chinese joint venture Cockerill Engineering Beijing…

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Is it safe to travel now? It depends.

Although many restrictions are still in place, travel is slowly starting up again. People locked down for months want to stretch their legs, see something other than a screen, and boost the economy. Restaurants and some tourist attractions (Florida’s Universal Orlando Resort, The Museum of Fine Arts, Houston) are opening for local and domestic travel. A few countries (Greece, Italy) are starting to welcome international travelers. But how can you safely explore a world of potentially deadly encounters with friendly people who might infect you (or who you might expose…

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Volkswagen’s new finance offers aim to enable individual mobility

Volkswagen India too has added its name to the list of automakers that are now offering special finance schemes and offers aimed at helping people buy cars through these challenging circumstances. VW’s program, christened Omni-channel mobility solutions, brings together its Power Lease and Secure offerings so as to tend to the distinctive requirements of its customers. The automaker assures now that individual mobility is on everyone’s mind, these solutions will help ease at least some of the financial stress customers may experience. This bouquet of offerings includes Volkswagen Power Lease,…

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Engineers develop near-zero emissions engine technology

Southwest Research Institute engineers have developed the next generation of clean diesel engine technology to reduce hazardous nitrogen oxides (NOx) and carbon dioxide emissions while minimizing fuel consumption. Working with regulatory agencies, vehicle manufacturers and suppliers, SwRI combined engine modifications with integrated aftertreatment technology and control strategies to reach near-zero emissions levels. SwRI developed the technology for the California Air Resources Board (CARB), a state organization charged with combatting air pollution. “Through the continued efforts of a multidisciplinary team, SwRI has developed one of the most fuel-efficient, low-emission diesel engines…

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Buying a car during COVID times? Avoid special financing schemes

April was a disastrous month for car makers, as sales were almost nil for most of them. Many car manufacturers have now rolled out schemes to attract buyers. Then, there are discounts and exchange offers too. Should you buy a car by taking such financing schemes, discounts and exchange offers after the lockdown and are they worth it? Naveen Kukreja – CEO and Co-founder, Paisabazaar.com says, “While opting for any of these finance schemes, the customers need to remember that the overall interest cost of these loans would be higher…

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Ujjivan Small Finance Bank Q4 net rises 15% to ₹73.2 cr

Ujjivan Small Finance Bank reported 15% jump in net profit at ₹73.2 crore for the quarter ended March, 2020. It had reported net profit of ₹63.8 crore in the year-ago period. The interest earned in March quarter was ₹737 crore as against ₹536 crore in March 2019. The Gross NPA was 0.97% during the quarter as against 0.95% in December quarter while Net NPA was 0.2% as compared to 0.38% in the previous quarter. The lender made ₹70-crore provisions on account of Covid-19. Net interest margin was at 11.2% in…

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Explained: The ‘travel bubble’ idea that many are pinning hopes on

The Baltic countries of Estonia, Latvia, and Lithuania on Friday started what is being referred to as a ‘travel bubble’ to help put their economies back on track post-Covid lockdowns. With the pandemic throwing both international and domestic trade and travel out of gear since earlier this year, such ‘travel bubbles’ are now being recommended to keep at least parts of the global economy afloat. The three European Union (EU) states, who have launched this measure, have so far remained comparatively unscathed by the virus, recording less than 150 combined…

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What you need to know about your home finance in the time of Covid-19

With lockdown and its economic fallout causing untold damage to the economy, more and more South Africans are finding themselves on unpaid leave, reduced salary packages or laid-off entirely. This is places many homeowners under severe stress when it comes to keeping up with their mortgage repayments and could well be deterring new buyers from entering the market as well. Under difficult circumstances like these, it’s easy to give in to feelings of hopelessness. However, according to Leonard Kondowe, National Admin Hub Manager for Rawson Finance, there are actually some…

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Stocks in news: Biocon, Tata Consumer, Escorts, Cipla, L&T Tech, M&M Financial, Manappuram Finance and more

Stocks in the news today: Here is a list of top stocks that are likely to be in focus in Friday’s trading session based on latest developments. Companies set to announce their earnings are Cipla, Crompton Greaves Consumer Electrical, L&T Technology Services, Mahindra & Mahindra Financial Services. Investors will also be taking cues from the latest released March quarter earnings Share Market LIVE: Sensex drops 180 points, Nifty at 9,128; Bharti Infratel, ICICI Bank, Maruti top losers Key highlights on share market; check the latest stock market news -Yesterday, Sensex…

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Lenders extend ICA for Reliance Home Finance resolution till June 30

As per June 7 circular of the Reserve Bank of India (RBI), lenders need to extend the time period of the pact if an account has not been resolved within 180 days of signing ICA. The lenders had signed ICA in July last year to resolve RHF. “The resolution of the company depends on the kind of offer we get from management, so far it has not been convincing,” a lender told FE on the condition of anonymity. Financial creditors have a total exposure of Rs 3,986 crore to RHF.…

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