The FTSE 100 share index in London closed 100 points down, at its lowest level in four and a half months on Tuesday, slumping 1.94 percent to 7,017.88, with the wider FTSE 250 down 1.9 percent at 20,715.97 as the impact of the novel coronavirus outbreak on the global financial markets persisted for a second day. … [Read more...] about Virus fears hit global stock prices sending markets into dramatic slide
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By Tarun Birani I am 33-year old and married. I have two kids, aged 3 and 1. For the last 5 years, I have been investing ₹30,000 per month in several mutual fund schemes to meet my long-term goals. For my retirement portfolio (future amount: ₹3 crore; goal is 20 years away; current accumulated corpus ₹7.97L), I have done SIP of ₹2,000 with ICICI Prudential Long-Term Equity Fund, and of ₹5,000 each in ICICI Prudential Focused Bluechip and ICICI Pru Value Discovery. For education of the first child (future value ₹50L; goal is 15 years away; ₹7.20L accumulated), I have SIPs with HDFC Mid-Cap Opportunities (₹6,000) and HDFC Top 100 (₹2,000). For education of second child, (₹50L goal that is 18 years away; current corpus ₹3.01L), I have SIPs with SBI BlueChip Fund (₹2,000), Motilal Oswal Multicap 35 (₹4,000) and Reliance Small Cap (₹4,000). Please let me know whether I have selected good funds and my … [Read more...] about Should I stay invested in credit risk funds?
Airtel Africa, which is eyeing over USD 1 billion initial public offer in London, has received approval for its 'registration document' from the UK Financial Conduct Authority. The 'registration document' outlines the general details about the company and post its approval by the Financial Conduct Authority (FCA), the company also has to file a separate draft prospectus to the FCA for approval. I It is the prospectus which will contain details of the public offer including the number of shares, and issue price. "Airtel Africa Ltd announces that a registration document relating to the company has received approval from the UK Financial Conduct Authority...," Airtel Africa said on its website. Telecom czar Sunil Mittal-led Bharti Airtel's Africa unit plans to launch over USD 1 billion (around Rs 6,970 crore) IPO in London to help reduce debt. The company is eyeing a June listing. While the company has not divulged the amount it intends to raise from the proposed public offer, … [Read more...] about Airtel Africa’s IPO related ‘registration document’ gets UK FCA nod
New Delhi: Bharti Airtel’s Africa unit posted a 12 per cent drop on-year in net profit to reach $125 million for the quarter ended June 2019 on-year, on revenue of $796 million on constant currency terms. This was the company's first quarter results after going public. The Africa unit, which listed on the London Stock Exchange and raised about $750 million by offloading 25 per cent stake, said its revenue growth of 10.2 per cent in constant currency was driven by double-digit growth in Nigeria and East Africa, partially offset by a decline in revenue in Rest of Africa. "I am pleased to report a strong start to the financial year, in our first quarterly results since the IPO. These results, which are in line with our expectations, are clear evidence of the effectiveness of our strategy across voice, data and mobile money. Voice revenue, our largest business product, was up 3 per cent largely driven by 9 per cent growth in our customer base, now reaching nearly 100 million … [Read more...] about Airtel Africa Q1 net profit up 40% on year
Korea's Growth Could Plummet to Zero If Coronavirus Drags on How Coronavirus Infects Korea's Economic Growth Coronavius Brings Quacks out of Woodwork Even Oscar-Winning Movies Can't Lure People out of Homes Elderly Embrace Online Shopping Amid Coronavirus Scare Streets Empty as Coronavirus Spreads Gov't Cracks down on Hoarders of Masks, Sanitizers Amid Coronavirus Outbreak Coronavirus Empties Movie Theaters Jeju Tourism Dealt Heavy Blow by Coronavirus Online Sales Surge Amid Coronavirus Scare Businesses Brace for Coronavirus Shock … [Read more...] about Korean Businesses Grow More Pessimistic Due to Coronavirus