Business

  • Worldwide PC shipments up 32% in Q1, Lenovo leads
    SAN FRANCISCO, APRIL 13 (IANS): Worldwide PC shipments reached 69.9 million units in the first quarter of this year, a growth of 32 per cent from the first quarter of 2020, according to Gartner. The top three vendors in the worldwide PC market remained unchanged from the previous quarter, with Lenovo maintaining the top spot by shipments, said the report. All of the top six vendors experienced double-digit growth, and all, except Dell, gained market share compared to a year ago &
  • GST recovery, petro taxes help Centre improve tax collections
    NEW DELHI, APRIL 13 (IANS): Good news is flowing for the government on the tax front with net indirect tax collections (GST & non-GST) registering a 12.3 per cent increase in FY21 largely on account of increased excise collections from petroleum products and improved GST inflows. As per provisional figures, net indirect tax collections for FY21 stood at Rs 10.71 lakh crore as compared to Rs 9.54 lakh crore for previous fiscal (FY20). Net Indirect Tax Collection for the last year
  • Meals barred on flights below 2-hour duration
    NEW DELHI, APRIL 12 (IANS): Amid the rising number of Covid cases in the country, the Centre has barred meals on flights with less than 2-hour duration. Further, in terms of longer flights, the servicing of inflight meals would have to be staggered among the adjacent seats as far as possible, according to an office memorandum issued by the Ministry of Civil Aviation. "Crew shall wear a fresh set of gloves for each meal/beverage service," the notification added. Sched
  • 'Save us from doom': Hospitality industry sends SOS to all CMs
    MUMBAI, APRIL 12 (IANS): In a last-ditch measure, the apex Federation of Hotel & Restaurant Associatons of India (FHRAI) sent an SOS to all Chief Ministers and Chief Secretaries on Monday, seeking urgent relief measures to help save the industry from doom as nearly one-third of hotels and restaurants across the country have shut down permanently. It pointed out that with the fresh Covid-19 wave and new restrictions on the hotel industry business across states, the crucial sector
  • Retail inflation rises in March, food prices soar
    NEW DELHI, APRIL 12 (IANS): India's retail inflation marginally rose in March as the Consumer Price Index (CPI) increased to 5.52 per cent from 5.03 per cent in February. Data furnished by the National Statistical Office (NSO) showed that CPI Urban rose 0.26 per cent in March, whereas the CPI Rural remained static. As per the National Statistical Office's data, Consumer Food Price Index increased to 4.94 per cent in March from a rise of 3.87 per cent in February. Risin
  • Xiaomi to unveil 'X' series in India on April 23
    NEW DELHI, APRIL 12 (IANS): Alongside Mi 11 Ultra, Chinese smartphone maker Xiaomi on Monday announced that it is all set to unveil its flagship X series in India on April 23. The company confirmed the news via press invites for an event. CEO Manu Kumar Jain also wrote on Twitter that the flagship series is coming to India. "Mi Fans, Xcited that 'X' flagship series is coming to #India!" the CEO tweeted. According to GSMArena, the Mi X series will include rebr
  • 76% growth in digital payments in India in last 12 months
    BENGALURU, APRIL 12 (IANS): Online transactions saw a healthy growth of 76 per cent in the first quarter of 2021 as compared to 2020, as tier 2 and 3 cities and towns continued to contribute over 50 per cent of all online transactions, a new report said on Monday. After seeing a steep decline in 2020 owing to the pandemic, travel industry grew by 50 per cent while real estate was up by 69 per cent in the first three months of this year. As tourism opened up, Jammu and Kashmir mad
  • Base effect pushes March passenger vehicle sales higher: SIAM
    NEW DELHI, APRIL 12 (IANS): Base effect, along with low interest rates and pent-up demand, accelerated domestic passenger vehicle sales in March 2021 on both year-on-year and sequential basis. Sales of passenger vehicles increased to 290,939 last month compared to over 135,196 units during the same period of 2020. In February 2021, 281,380 units of passenger vehicles were sold, including the sub-segments of cars, utility vehicles and vans. A total of 156,985 passenger cars wer
  • Microsoft to buy speech-recognition firm Nuance for $16B: Report
    San Francisco, April 12 (IANS): Microsoft is reportedly acquiring speech-recognition company Nuance Communications for nearly $16 billion and the deal could be announced on Monday (US time), the media reported. According to a CNBC report citing sources on Sunday, Microsoft first approached Nuance in December last year. At about $56 per share for Nuance, the acquisition value could be nearly $16 billion. At $16 billion, Nuance would be Microsoft's second largest acquisition
  • Flipkart enters into strategic partnership with Adani Group
    New Delhi, April 12 (IANS): Flipkart, India's leading homegrown e-commerce marketplace, Monday announced a strategic and commercial partnership with the Adani Group, India's largest multinational infrastructure company. In this two-pronged partnership, Flipkart will work with Adani Logistics Limited, the largest diversified end-to-end logistics service provider in the country and a wholly owned subsidiary of Adani Ports & Special Economic Zone Limited, to strengthen Flip
  • Petrol, diesel prices unchanged for 13th consecutive day
    New Delhi, April 12 (IANS): Fuel prices in the country remained unchanged on Monday with oil marketing companies continuing the pause mode and keeping petrol and diesel prices static for the 13th consecutive day. Accordingly, pump price of petrol and diesel remained at previous days level of Rs 90.56 and Rs 80.87 a litre respectively in the national capital. Petrol and diesel fell by 22 paise and 23 paise per litre respectively on March 30 in wake global softening of oil prices.
  • CEOs prefer strict safety norms over partial lockdowns: CII Survey
    New Delhi, April 11 (IANS): Amid rising Covid cases and talks of partial and total localised lockdowns, most of the CEOs in India believe that along with the ongoing vaccination drive, stringent implementation of safety norms should be adopted instead of going for restrictions and partial lockdowns, according to a CII survey. Around 75 per cent of the 710 CEOs polled were of the view that partial lockdown measures could impact the movement of labour as well as movement of goods, whi
  • E-commerce growth in tier-2, 3 cities outpace tier-1 Indian cities
    MUMBAI, APRIL 11 (IANS): The growth of e-commerce volumes in tier 2 and 3 cities in India is outpacing that in tier-1 cities, according to a recent report. "Smaller Indian cities are now accounting for a bigger volume of e-commerce sales. E-commerce growth in tier 2 and tier 3 cities in India is outpacing that of tier 1 cities," said an ICICI Securities report. Volume share of these smaller cities in India's e-commerce market increased to 46 per cent in Q4CY20 from
  • Global manufacturing activity expands in March: Index
    BEIJING, APRIL 11 (IANS): The global manufacturing sector expanded at a faster pace last month, according to an index published by the China Federation of Logistics and Purchasing (CFLP). The global manufacturing purchasing managers' index (PMI) stood at 57.8 in March, up by 2.2 percentage points from the previous month, according to the CFLP, Xinhua reported on Sunday. The reading, which marks the second monthly increase, remains in the expansion zone for the ninth consecuti
  • Fuel prices unchanged for 12th straight day
    New Delhi, April 11 (IANS): Oil marketing companies (OMC) kept petrol and diesel prices unchanged for the 12th straight day across the four metro cities on Sunday. In the national capital, petrol was sold for Rs 90.56 per litre. Prices of the fuel in Mumbai, Chennai and Kolkata were at Rs 96.98, Rs 92.58 and Rs 90.77 per litre respectively, same as the previous levels. Petrol and diesel prices fell by 22 paise and 23 paise per litre, respectively, on March 30 in wake the globa
  • Infosys to buy back shares again soon
    BENGALURU, APRIL 11 (IANS): Global software major Infosys announced on Sunday that it is planning to buy back more shares again with a proposal in this regard on the agenda at its board meeting on April 14. "The board will consider a proposal for buyback of fully paid-up equity shares at its meeting on April 14, 2021, in accordance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018," said the city-based company in a regulatory filing
  • Mid and small caps best performers, gold slumps in 1st quarter
    New Delhi, April 10 (IANS): Mid and small cap stocks are the best performing asset class for the quarter ending March 2021 while gold is the worst performer. Mid and small cap stocks delivered returns of 14 per cent in the quarter while gold under-performed with negative 11 per cent returns. Gold is the biggest under-performer for the first three months of 2021 vs. the other asset classes. Gold prices are down by 11 per cent in rupees and 10 per cent in US Dollar in the last three m
  • 'Economic activity consolidated in a steady zone in March 2021'
    New Delhi, April 10 (IANS): Economic activity consolidated in a steady zone in March 2021, said Sanjay Aggarwal, President, PHD Chamber of Commerce and Industry, in a statement issued on Saturday. Out of the 10 indicators of QET (Quick Economic Trends) of economic and business activity tracked by the industry body PHDCCI, 6 have performed positive in March 2021 of which passenger vehicle sales has shown a highest growth of 125 per cent over the corresponding month in previous year.
  • Apple likely to use 120Hz ProMotion display in 'iPhone 13' lineup
    San Francisco, April 10 (IANS): The next-gen iPhone 13 Pro lineup will reportedly come with 120Hz ProMotion display for the first time. According to AppleInsider, low-temperature polycrystalline oxide (LTPO) displays have been rumoured for the iPhone for about two years. However, the report claims that the displays will finally arrive on the iPhone, granting the device a 120Hz refresh display for the first time. Citing "industry sources," supply chain monitor DigiTim
  • No plan to stop or curtail train services, number to be increased on demand: Railways
    New Delhi, April 9 (PTI): The railways on Friday said there is no plan to curtail or stop train services and assured passengers that trains will be provided on demand amidst reports of migrant workers rushing to their hometowns, reminiscent of the days following the coronavirus-triggered lockdown. A number of officials, including Railway Board Chairman Suneet Sharma, General Manager, Southern Railway John Thomas and the chief public relations officers (CPROs) of the Northern and Cen