Business

  • Not selling WhatsApp or Instagram at any cost: Mark Zuckerberg
    Facebook CEO Mark Zuckerberg . (Reuters/Leah Millis File Photo)   Washington, September 20 (IANS):  Facebook CEO Mark Zuckerberg has rejected a US lawmaker's call to break his company, saying he's not going to sell WhatsApp or Instagram at any cost. Senator Josh Hawley (Missouri Republican) tweeted that he met Zuckerberg during his visit to Washington, DC on Thursday, and asked him to sell Instagram and WhatsApp. "Just finished meeting with @facebook
  • FM reminds Biocon chief of govt’s fiscal steps on growth revival
    New Delhi, September 19 (IANS): Finance Minister Nirmala Sitharaman on Thursday strongly retorted a sarcastic comment from Biocon chief Kiran Mazumdar-Shaw on her presence on a cabinet decision (on e-cigarettes) that was not related to the Finance Ministry. To a suggestion by Shaw that Sitharaman should rather announce some fiscal measures to support growth, the Minister responded that she has been speaking about the economic measures taken by he government regularly. The onl
  • No rise in Ambani’s stake, subsidiaries’ shares merged with RSHL: RIL
    Mukesh Ambani, Chairman and Managing Director of Reliance Industries. (REUTERS File Photo)   New Delhi, September 19 (IANS): Denying reports of rise in Mukesh Ambani’s stake in Reliance Industries (RIL), a company spokesperson has said that under the ongoing restructuring of RIL’s subsidiaries, five subsidiaries holding 17.19 crore shares have merged with Reliance Services and Holdings Limited (RSHL), a company controlled by Petroleum Trust. Petroleum Trust is a pro
  • Nokia 7.2 with triple camera, PureDisplay launched in India
    New Delhi, September 19 (IANS): HMD Global has launched its new smartphone, the Nokia 7.2 in India on Thursday, the company’s first smartphone with a triple camera and PureDisplay. The device will be available at a starting price of Rs 18,599 for the 4GB/64GB variant. The top-end model with 6GB/64GB storage will be available for Rs 19,599. The device will be available for purchase on Nokia.com/phones, Flipkart and major retail outlets in India starting from September 23.
  • Google goes bullish on India, unveils multiple products
    New Delhi, September 19 (IANS): In its bid to make the Internet more accessible, inclusive and empowering for everyone in India, Google on Thursday announced a slew of products, including an artificial intelligence (AI) lab in Bengaluru, BSNL partnership, ‘Google Pay for Business’ app for merchants along with expanding Indian language support across Google Assistant, Discover, Lens and Bolo products. The fifth edition of the annual ‘Google for India’ event also saw the com
  • 4,749 students at SRM get placements
    SRM Institute of Science and Technology students during campus interview at Kattankulathur in Chennai.   Chennai, September 17 (MExN): A record of 4,749 graduating students of 2020 batch were given offers by four major IT companies at the conclusion of the ‘Day One’ process at the SRM Institute of Science and Technology, breaching last year’s 3,020 offers for 2019 pass outs. According to a press release, TCS (Ninja) has made 1,437 offers, Infosys 1,315, CTS 1,175
  • VIT granted ‘Institute of Eminence’ status
    VIT Chancellor, Dr. G. Viswanathan and others.       Tamil Nadu, September 17 (MExN): Buoyed by granting of Institute of Eminence (IoE) tag by the Union Government, Vellore Institute of Technology (VIT) on Tuesday announced its plans for the next five years like setting up of a technology park and finding a place in the top 500 in the world university ranking in the next 3 years time. VIT Chancellor, Dr. G. Viswanathan announced that the institute is planning to
  • Oil Cos. maintain check, petrol-diesel prices may not spike
    New Delhi, September 17 (IANS): Consumers in India are unlikely to be overburdened with high retail price of auto fuels - petrol and diesel - following a spike in international crude prices that rose 19 per cent on Monday. Global oil prices are on the boil again in the aftermath of the largest ever-disruption in crude production post drone attacks in Saudi Aramco's two of the largest oil processing facilities. The attacks at Abqaiq and Khurais plants have sucked out
  • Amazon, Flipkart festival sales violate FDI norms: CAIT
    New Delhi, September 17 (IANS): Reiterating its demand for ban on festival sales by Amazon and Flipkart, the Confederation of All India Traders (CAIT) on Tuesday said that the two e-commerce majors are flouting the norms for foreign direct investment (FDI) by carrying out festival sales. The traders' body urged the Commerce Minister to look into the violation of the FDI policy by these e-commerce companies and impose a ban on the declared festival sales. It also urged the g
  • India to become $10 trillion economy by 2030-32: Rajnath
    New Delhi, September 17 (IANS): Defence Minister Rajnath Singh said in New Delhi on Tuesday that the goal of the government is to make India a $10 trillion economy by the year 2030-32. Singh was speaking at the annual conclave of Delhi-based Society of Indian Defence Manufacturers (SIDM). "The current size of the Indian economy is around $2.7 trillion and our goal is to make it to $5 trillion by 2024 and subsequently to US$ 10 trillion by 2030-32," he said. Si
  • Reliance Jio to be among top 100 brands in 3 years: Report
    New Delhi, September 17 (IANS): The rate at which Reliance Jio is currently growing, the company will be among the 100 most valuable brands globally within three years, according to a report by communication services provider WPP and market research firm Kantar Millward Brown. Although launched in 2016, Indian consumers see Jio as "Meaningfully Different" as Airtel, which entered the market in 1995, said the report titled "BrandZ Top 100 Most Valuable Global Brand for 2019"
  • SAIL allowed selling iron ore from captive mines
    A worker stacks steel pipes in Ahmedabad on November 4, 2014. (REUTERS File Photo)   New Delhi, September 17 (IANS): In a big reform initiative, government has allowed state-owned Steel Authority of India Ltd (SAIL) to sell 25 per cent of its iron ore production from captive mines and dispose off other low grade iron ore dust and fines accumulated over the years in the open market. The move will allow the state-owned steel major to commercially offload upto 7 million to
  • Saudi says to meet oil commitment to Asian refiners, some changes: sources
    A production facility is seen at Saudi Aramco's Shaybah oilfield in the Empty Quarter, Saudi Arabia on May 22, 2018. (REUTERS File Photo)   NEW DELHI/SINGAPORE, September 17 (Reuters): Saudi Aramco has informed at least six refiners in Asia that it will supply full allocated volumes of crude oil in October following attacks on Saudi oil facilities on the weekend, although at least one has been told of a grade switch partially. Saudi Arabia has said it would be able
  • SBI Caps, PNB Investment among bidders for TCIL, FAGMIL, WAPCOS
    New Delhi, September 17 (IANS): SBI Capital, IDBI Capital, SMC Capital, PNB Investments and Elara Capital are in the fray for becoming the book running lead managers (BRLMs) to the Initial Public Offers (IPOs) of TCIL and FAGMIL and WAPCOS, sources here said on Tuesday. These companies along with some financial firms like Yes Securities and Equiris Capital will make presentations for tecnical evaluation and final selection this week as BRLMs for the three the IPOs of the public se
  • Reliance Jio to be among top 100 brands in 3 years: Report
    New Delhi, September 17 (IANS): The rate at which Reliance Jio is currently growing, the company will be among the 100 most valuable brands globally within three years, according to a report by communication services provider WPP and market research firm Kantar Millward Brown. Although launched in 2016, Indian consumers see Jio as “Meaningfully Different” as Airtel, which entered the market in 1995, said the report titled “BrandZ Top 100 Most Valuable Global Brand for 2019
  • India server market declines, reaches $350.2 mn in Q2
    New Delhi, September 17 (IANS): The overall Indian server market has witnessed a Year-over-Year (YoY) decline of 1 per cent in terms of revenue to reach $350.2 million in the second quarter of 2019 (2Q19) versus $353.9 million in 2Q18, said a new report by International Data Corporation (IDC) on Tuesday. According to the IDC’s mew “Asia/Pacific Quarterly Server Tracker” (which excludes Japan), 2Q19, the x86 server market accounts for 89.9 per cent of the overall server mark
  • Banks’ 2018-19 savings deposits up at Rs 39.72 lakh cr: RBI
    Mumbai, September 16 (IANS): Indian private and public sector banks (PSBs) had aggregate savings deposits of Rs 39.72 lakh crore as on March 31, 2019, while foreign banks had a share of Rs 58,630 crore, according to RBI data published in the Handbook of Statistics on Indian Economy 2018-19.   The total savings deposits with commercial banks, including foreign ones, in 2018-19 stood at Rs 40.31 lakh crore, up from Rs 36.55 lakh crore in 2017-18, the data showed.  
  • General Motors braces for nationwide strike in 12 years
    Washington, September 16 (IANS): The United Automobile Workers (UAW) trade union has called for a nationwide strike of 48,000 employees at General Motors (GM), the company’s first in 12 years, after the US labour contract talks stalled. “We do not take this lightly... This is our last resort,” said Terry Dittes, the UAW vice-president in charge of the GM relationship, at a press conference on Sunday in Detroit, where the headquarters of the carmaker are located. Dittes
  • Nissan CEO resigns over pay issue
    Tokyo, September 16 (IANS): After admitting to being overpaid by an equity-linked remuneration scheme, Nissan Motor Co. President and CEO Hiroto Saikawa on Monday stepped down from his post. Saikawa, 65, was appointed CEO after the arrest of Carlos Ghosn, who is facing allegations of financial misconduct during his tenure as former chairman of the Japanese automobile group, Efe news reported. Although Saikawa had announced his intention to step down from his post after the tu
  • 5G spectrum auction quantum inadequate, costly: BIF
    New Delhi, September 16 (IANS): The quantum of 5G spectrum on auction in the country is inadequate and pegged at a very high reserve price which is approximately 5 to 6 times higher than in other countries and needs urgent revision, a broadband industry association said on Monday. “Quantum of 5G spectrum on auction inadequate and at a very high reserve price. Current reserve price of 5G spectrum is too high - approximately 5 to 6 times higher than other countries and needs urgen