Business

  • Airtel's privacy policy updated after furore
    New Delhi, October 20 (IANS): Airtels privacy policy statement has been updated after a controversy over sexual orientation being part of the personal information that can be accessed. The privacy policy of Airtel mentioned that it can collect users' personal information and data like genetic information, sexual orientation, racial and ethnic origin, religious and philosophical belief, trade union membership, health data, financial information and political opinion and share the
  • Mercedes-Benz India to locally produce AMG vehicles in India
    NEW DELHI, OCTOBER 20 (IANS): Luxury car maker Mercedes-Benz India has decided to produce its high-end performance AMG vehicles sub-brand in India. The company will soon roll-out the made-in-India 'AMG GLC 43 4MATIC Coupe'. Mercedes-Benz's sub-brand having a wide portfolio of performance limousines, performance SUVs, SUV Coupes, and sports car in its wide portfolio in India, AMG has a dedicated retail presence through the 'AMG Performance Centres' located acro
  • Jet may fly again in four months after new management takes over
    NEW DELHI, OCTOBER 20 (IANS): The much-awaited Jet Airways' resolution is finally heading towards a success, with the resolution plan of Kalrock Capital and Murari Lal Jalan having been approved by the National Company Law Appellate Tribunal (NCLT). Now, after the resolution process has been completed and the Kalrock-led consortium takes over the airline, the first task would be to retrieve its slots which were temporarily distributed among other players. The airline is expec
  • Jeff Bezos vs Mukesh Ambani: Battle royale for India's retail crown
    NEW DELHI, OCTOBER 20 (IANS): The arbitration proceedings between Amazon and Kishore Biyani have begun in Singapore. Former Attorney General of Singapore, V.K. Rajah concluded arbitration hearing on Friday, October 16 and will deliver his ruling on or before Monday, October 26, sources said. Rajah, former Attorney General of Singapore, is the sole arbitrator in the Amazon vs. Future vs. Reliance arbitration matter. An emergency hearing of the arbitration took place in Singapor
  • LG launches world's 1st rollable TV for whopping Rs 64 lakh
    SEOUL, OCTOBER 20 (IANS): LG Electronics on Tuesday released the world's first rollable TV in South Korea at a jaw-dropping price of $87,000 (about Rs 63.9 lakh) as the tech giant aims to target high-end consumers amid the pandemic. The company said overseas launch schedules of LG Signature OLED R have not been fixed yet due to the Covid-19 situation in each country, reports Yonhap news agency. LG said the product, which uses flexible OLED display that leverages self-lighting
  • Bookings for M&M's all-new Thar SUV crosses 15K
    NEW DELHI, OCTOBER 19 (IANS): Automobile major Mahindra & Mahindra has reported that bookings for 'All-New Thar' SUV has now crossed 15,000 bookings, since its launch on October 2, 2020. "Today 57 per cent of all buyers of the All-New Thar are first time car buyers and a significantly large share of all bookings are for the automatic variants," the company said in a statement on Monday. The all-new Thar will be available in two trims, namely "AX & L
  • Paytm enters credit card biz, to issue 20 lakh in 12-18 months
    NEW DELHI, OCTOBER 19 (IANS): Leading digital financial services platform Paytm on Monday said it will partner with various card issuers to introduce co-branded credit cards and is aiming to issue 20 lakh cards in the next 12-18 months. The move is aimed at transforming the credit market by enabling "new to credit" users to join the digital economy, the company said. "In our country, credit cards are still considered a product for the affluent sections of the socie
  • NCLT approves JSW Steel arm's bid for Asian Colour Coated Ispat
    New Delhi, October 19 (IANS): The National Company Law Tribunal (NCLT) has approved the resolution plan of JSW Steel Coated Products Limited, a subsidiary of JSW Steel Ltd for acquiring the bankrupt Asian Colour Coated Ispat Limited (ACCIL). In a regulatory filing, JSW Steel said that amended resolution plant was approved by the Delhi-bench of the tribunal on Monday. The Haryana-based steel company has two plants, in Bawal (Rewari District) in Haryana and Raigad District in Mahar
  • Atlassian's $50mn global venture fund to focus on Indian startups (Ld)
    Bengaluru, October 19 (IANS)" In a bid to tap into India's growing startup and developer community, Australia's leading software firm Atlassian Corporation on Monday announced the launch of Atlassian Ventures, a new $50 million global fund that will invest startups, including established companies that are already building products in its ecosystem. The company which set up a research and development centre in Bengaluru last year with plans to expand it further, said it
  • 1 in 3 call centres in India to switch permanently to WFH
    New Delhi, October 19 (IANS): Signalling the future of work in the pandemic times, nearly one in three call centres (27 per cent) in India will switch permanently to work from home as a viable long-term strategy, a new report said on Monday. Amid the WFH strategy, 53 per cent businesses also reported a drop in productivity of call centre agents. Some of the challenges listed were internet connectivity, telecom issues, practical constraints such as lack of privacy, space, noise ca
  • OMCs hold petrol, diesel prices as global oil market remains subdued
    NEW DELHI, OCTOBER 19 (IANS): Oil marketing companies (OMC) kept petrol and diesel prices unchanged across the four metros on Monday as global oil prices remained subdued and product prices remained steady. Petrol prices have been unchanged for 27 days at a stretch while diesel prices were the same for the 17 consecutive days. Price of petrol in the national capital was at Rs 81.06 per litre. In Mumbai, Chennai and Kolkata, the fuel was sold for Rs 87.74, Rs 84.14 and Rs 82.59 pe
  • India's gold imports halve to $6.8B in Apr-Sep FY21
    NEW DELHI, OCTOBER 18 (IANS): Gold imports by India declined 57.12 per cent in the first half of the current financial year (2020-21) to $6.77 billion as demand has been largely hit by the pandemic. During April-September FY20, the value of gold imports stood at $15.80 billion. As per the Commerce Ministry data, import of the yellow metal last month stood at $601.43 million, 52.85 per cent lower on a year-on-year basis. Silver imports too have slumped during over the past six
  • Power regulator wants govt not to infringe regulatory jurisdiction
    New Delhi, October 17 (IANS): Power regulator Central Electricity Regulatory Commission (CERC) has advised the Union Ministry of Power against jurisdictional overreach in framing regulations for the power sector that infringes the substantive functions of the Central Commission. The regulator has issued an advisory over the draft rules proposed by the ministry, asking the government to work in harmony by honouring the respective jurisdiction carved out in the Electricity Act 2003.
  • No change in petrol, diesel prices for 15 consecutive days
    New Delhi, October 17 (IANS): Petrol, diesel prices have remained steady for about half of the current month as stable global oil prices have ensured that oil marketing companies did not revise retail fuel prices. Diesel price has stayed at the same level since last October 3, completing 15 days when the fuel did not see any revision. Petrol price has been stable for a longer period, completing 25 days on Saturday. With no revision in fuel prices on Saturday, in the national capi
  • As Covid bites, luxury auto makers unleash offers' offensive
    New Delhi, October 17 (IANS): To arrest the sales decline triggered by the Covid-19 pandemic, players in the luxury automobile space have gone on an offers' offensive, making customer the 'Absolute King'. On offer are direct discounts and indirect value added propositions like 'free insurance' and 'service packs'. Accordingly, discounts ranging from 5 to as much as 8.5 per cent on ultra-luxury cars and SUVs are being bestowed. The high price tag on
  • Samsung now top smartphone seller in India, globally: Report
    New Delhi, October 16 (IANS): Samsung took the top spot in the global smartphone market in August driven by sales growth in India as the market recovered from a nationwide lockdown, a Counterpoint Research report said on Friday. The South Korean tech giant also recaptured the top spot in India in July-August period, according to Counterpoint's latest Monthly Market Pulse report. Samsung has now reached its highest market share in India since 2018 by adopting an aggressive onl
  • Third-party sellers made over $3.5bn from Prime Day: Amazon
    San Francisco, October 16 (IANS): Third-party sellers surpassed $3.5 billion in sales on Prime Day, a nearly 60 per cent year-over-year increase, Amazon said after wrapping up the two-day event across 19 countries. In addition, Prime members around the world saved over $1.4 billion during the event, securing deep discounts and getting a jump start on their holiday shopping, Amazon said on Thursday. The e-commerce giant held its Prime Day event separately in India in August. Th
  • Low base recovery: Sep domestic passenger vehicles' sales rise over 26%
    New Delhi, October 16 (IANS): Low base along with more sustainable pent-up demand boosted domestic passenger vehicles' sales in September on a year-on-year basis. According to industry data released on Friday, a total of 2,72,027 passenger vehicles were sold in the domestic market, representing a rise of 26.45 per cent, than the 2,15,124 units off-take during the like period of 2019. Similarly, the data released by the Society of Indian Automobile Manufacturers (SIAM) showed
  • Government plans to borrow 1.1 trillion rupees to give to states
    NEW DELHI, October 15 (Reuters):  India's federal government said it plans to borrow 1.1 trillion rupees in tranches to compensate states for tax losses due to the spread of coronavirus, breaking an impasse between New Delhi and some of the states. Under the 2017 national goods and services tax (GST), the federal government was mandated to compensate states if their revenue growth fell below 14% a year. But due to a sharp fall in tax collection the government was al
  • India will not mandate secondary listings for firms joining overseas markets, sources say
    NEW DELHI, October 15 (Reuters): India has decided not to mandate secondary listings for domestic firms that float shares on a foreign stock exchange as it prepares to announce a new policy within weeks, two senior government sources and two industry executives told Reuters. India is close to drawing up rules for companies to directly float overseas without first having to list shares at home, as a way to help startups attain higher valuations and access capital more easily.