Gold Silver Reports (GSR) – State-Owned Banks Worst Hit By Fraud Despite Spending More On Audits — That’s according to a new report by proxy advisory firm Institutional Investors Advisory Services. The high audit fees in public sector banks are a function of large number of branches, multiple auditors, higher number of physical audits and Reserve Bank of India prescribed rates, IiAS said in its report. “Despite paying high audit fees, the quantum of fraud in public sector banks tend to be much higher.”
Neal Bhai
Royal Enfield Sales Jump 27%
Gold Silver Reports (GSR) – Royal Enfield Sales Jump 27% — Royal Enfield, the two-wheeler division of Eicher Motors Ltd., reported a 27 percent jump in total sales to 76,087 units in March. The two-wheeler manufacturer had sold 60,113 units in March 2017.
CV Sales Boost For Tata Motors
Gold Silver Reports (GSR) – CV Sales Boost For Tata Motors — Tata Motors Ltd.’s local sales jumped 35 percent in March aided by the commercial vehicles and passenger vehicles segments.
Maruti Posts Double-Digit Sales Growth
Gold Silver Reports (GSR) — Maruti Posts Double-Digit Sales Growth – Maruti Suzuki India Ltd.’s sales rose nearly 15 percent in March led by sales in the mini segment.
Auto Sales: Expectations For March
Gold Silver Reports (GSR) – Auto Sales: Expectations For March — Indian automobile makers are expected to end the financial year 2018 with a bang. That’s according to a BloombergQuint poll of two brokerage houses, which suggest double-digit sales growth in March for all segments, be it commercial vehicles or two-wheelers.
Bahrain’s Biggest Crude Oil Find Since 1932 Dwarfs Reserves
Gold Silver Reports (GSR) – Bahrain’s Biggest Crude Oil Find Since 1932 Dwarfs Reserves — The shale oil and natural gas discovered in a deposit off the island state’s west coast “is understood to dwarf Bahrain’s current reserves,” Bahrain News Agency reported, without giving figures. The country currently pumps about 45,000 barrels of crude oil a day from its Bahrain Field, and it shares income from a deposit with Saudi Arabia that produces about 300,000 barrels a day, according to figures from the U.S. Energy Information Administration.
Trump Bid to Move `Hellhole’ Embassy Sunk by Architectural Icon
Gold Silver Reports (GSR) – Trump Bid to Move `Hellhole’ Embassy Sunk by Architectural Icon — The Belgian capital has taken action to block Washington’s plan to move the U.S. embassy from its current downtown location near Russia’s mission to a bucolic neighborhood adjacent an 11,000-acre forest on the city’s southern outskirts. The point of contention? The new building is too celebrated for what the Americans have planned for it.