News That Matters

Tag: expand

Abu Dhabi commits billions to expand its refining capacity

Abu Dhabi commits billions to expand its refining capacity

Business
May 14 (UPI) -- More than $ 45 billion in investments over the next five years could position the United Arab Emirates as a global refining powerhouse, its oil company said. "Given the projected increase in demand for petrochemicals and higher value refined products, we are repositioning ADNOC to become a leading global downstream player," Ahmed al-Jaber, the CEO of the Abu Dhabi National Oil Co. and the Emirati minister of state, said in a statement. ADNOC said it would spend $ 45 billion over the next five years to expand its refining and petrochemicals operations at al-Ruwais, a city in western Abu Dhabi. ADNOC and its subsidiaries process 10.5 billion cubic feet of natural gas per day and has a refining capacity of 922,000 barrels per day. By 2025, the company said it would expand it...
HDFC Bank aims expand investment banking, taps talents

HDFC Bank aims expand investment banking, taps talents

Finance
HDFC Bank, the country’s largest lender by market value, is hiring top investment banking talent to boost its presence in a business holding major promise and close the gap with bulge-bracket Wall Street names that dominate placements at South Asian B-schools. In the past few months, the bank has hired at least 10 top rainmakers from global banks such as HSBC, Standard Chartered Bank, and Macquarie, and the home-grown ICICI Bank. While its ranking in the debt market has been climbing, HDFC Bank is slotted lower in equity offerings where Citi and BoFA-ML dominate. Among local banks, Axis, ICICI and Kotak have significant presence in the equity markets. The bank ranks second in the Bloomberg Bond League table for India while it is way below in the Equity Offering table at 19. “The expa
Discount brokers expand business on data, Aadhaar KYC

Discount brokers expand business on data, Aadhaar KYC

Finance
CHENNAI/MUMBAI: Discount brokers — the low-cost, no-frills broking houses — have seen a phenomenal growth in the last two years on the back of the Aadhaar-enabled e-KYC process, launch of high-speed data services at low cost by Reliance Jio, and the five-year old bull market. The growth has been so strong that, as of fiscal 2018-end, Zerodha — an eight-year-old tech-driven startup in the broking space — became the third-largest in India in terms of number of customers, behind ICICI Securities and HDFC Securities. It ranked 16th on the list two years ago, and 34th five years ago. In the league table, it’s ahead of D-Street’s old horses like Sharekhan, Axis Securities, Kotak Securities, Angel Broking and Motilal Oswal Securities. Zerodha and peers like Upstox, Samco and SAS Online have seen
Inditrade Microfinance to expand loan book to Rs 500 crore by December end

Inditrade Microfinance to expand loan book to Rs 500 crore by December end

Finance
Inditrade Microfinance Ltd., a part of Inditrade group that focuses on agri-commodity financing and financial services, is looking to expand its core microfinance loan book to Rs 500 crore by the end of December 2018 from the current Rs 50 Crore. "By the end of the third quarter in next fiscal (2018-19), our book should be around Rs 500 crores. We will put in additional capital to take the business to the above-referred levels. Only after the business reaches around Rs 500 crore we will consider raising capital from outside,'' said Sudip Bandyopadhyay, group chairman of Inditrade group of companies. A large part of this growth is expected from Kerala where it already provides finance for non-essential exchange traded commodities. In Kerala, the group is currently focused on providi...