UK lenders expect consumer lending to pick up in third quarter: BoE
London: British lenders expect demand for consumer borrowing to pick up in the third quarter, a Bank of England survey showed on Thursday, echoing signs of a broader recovery in the economy after a slow start to 2018.
The BoE, which has been urging banks to avoid risks in their lending to households, also reported lenders intend to keep supply of mortgage lending broadly steady over the next few months.
Britain’s housing market has been struggling for momentum over the last year, in part reflecting a squeeze on consumers from rising inflation since the Brexit vote in 2016 and weak wage growth.
Earlier on Thursday the Royal Institution of Chartered Surveyors said British house prices remained flat in June and the market was likely to stay sluggish in the coming months despite more properties being put up for sale.
Lenders in the BoE survey said demand for small business loans had increased over the last three months, but they expected demand for loans from large businesses to fall in the current quarter.
PayU said it agreed to acquire Israeli payment technology provider Zooz to support its expansion in high-growth markets.
BTVI’s Executive Editor Siddharth Zarabi, in an exclusive interview with Rajnish Kumar, Chairman at State Bank of India, talks about Indian macros and asks important questions about the Indian economy and public sector banks.
Lodha Developers has reported a 32% rise in its consolidated net profit at Rs 790 crore during the last fiscal on account of higher sales, especially in the affordable housing segment.
It rose by a similar margin against the dollar JPY=EBS 110.90 and against sterling at GBPJPY=EBS at 145.85 yen.
The station, which was named after Lord Elphinstone, the Governor of Bombay Presidency from 1853 to 1860, has now been renamed in honour of a local deity.
Lavasa -an ultimate getaway, a city that would offer the charms of European locales, with five star comforts in a scenic part of Maharashtra has now become an abandoned town.
A second chargesheet by the ED has confirmed the trail of illegal cash Mallya transferred to his accounts across global tax havens.
Delayed payment by GMR-led DIAL, the Delhi airport operator, to the CISF guards could eventually lead to passengers paying more to fly out of the Indian Capital.
The West Bengal Police has claimed to have busted a Rs 100 crore plus job racket in the Indian Railways following a crucial arrest in the Indian Capital.