Business

  • Tax cut to benefit media companies: Kotak Securities
    New Delhi, September 24 (IANS): The announced sharp cut in corporate tax could bring twin benefits for media companies, Kotak Securities said in a report.   According to the report, while reduction in corporate tax rate would result in tax savings, media companies may also see an increase in their top line should corporates reinvest a part of these tax savings in advertising.   The government last week slashed corporate tax from 30 per cent to 22 per cent for the
  • Samsung 'Galaxy Fold' coming to India on Oct 1
    New Delhi, September 24 (IANS): Samsung is finally bringing its much-anticipated and most-premium smartphone "Galaxy Fold" to India on October 1 -- just a month after its global debut in South Korea -- highly-placed sources told IANS on Tuesday.   The smartphone-cum-tablet "Galaxy Fold" smartphone is likely to be priced between Rs 1.5 lakh-Rs 1.75 lakh in India. It will be sold through select retail outlets and will be available only via pre-book mode, the sources added.
  • Malware stealing ATM card details of Indians traced to N.Korea
    New Delhi, September 23 (IANS): A malware created to infiltrate Indian ATMs and steal customers card data has been traced to the Lazarus group controlled by the Reconnaissance General Bureau, North Korea's primary intelligence bureau. The Lazarus Group's activities were widely reported after it was blamed for the 2014 cyber attack on Sony Pictures Entertainment and the 2017 WannaCry ransomware attack on countries including the US and Britain. It is one of the three e
  • Thomas Cook collapses: Why and what happens now?
    A closed Thomas Cook check-in service is pictured at the Frankfurt Airport, Germany on September 23. (REUTERS/Kai Pfaffenbach)   London, September 23 (Reuters): Thomas Cook, the world’s oldest travel firm, collapsed on Monday, stranding hundreds of thousands of holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history. What happens now and why did it collapse? WHY DID IT COLLAPSE? Thomas Cook was brought low by a $2.1 bi
  • Social video app Firework comes to India to take on TikTok
    Mumbai, September 23 (IANS): With the popularity of short video-sharing platforms like TikTok, Vigo Video and Likee growing in India, a similar platform called Firework, based in Silicon Valley, has now entered the Indian market.   Firework is part of a suite of apps created by Loop Now Technologies, Inc. a Redwood City, California-based incubator start-up that focuses on next-generation consumer mobile applications.   "India has the fastest growing smartphon
  • UN chief asks banking sector to invest in climate action
    United Nations, September 23 (IANS): UN Secretary-General Antonio Guterres asked the banking industry to invest in climate action and to disinvest from fossil fuels and pollution in general.   He made the appeal as he was launching the UN Principles for Responsible Banking on Sunday, Xinhua news agency reported.   "Climate action has multiple benefits, including job creation, reduced air pollution, improved public health, and greater security for nations and (econ
  • SBI to adopt RBI's repo rate as external benchmark
    Mumbai, September 23 (IANS): State Bank of India, the countrys largest lender, has decided to adopt RBIs repo rate as the external benchmark for all floating rate loans for MSME, home and retail loans from October 1.   The benchmarks to which banks can link the new floating rate retail loans for the purpose of transmission are -- RBI's repo rate, Government of India 3-Months Treasury Bill yield published by the Financial Benchmarks India Private Ltd (FBIL), Government of Ind
  • Musk posts new update on 'Starship' ahead of launch
    San Francisco, September 23 (IANS): Tesla and SpaceX CEO Elon Musk has posted a new picture on Twitter showing installation of the rear wings on Starship Mk1, revealing a serious departure from the original design unveiled by SpaceX almost exactly a year ago.   "Adding the rear moving fins to Starship Mk1 in Boca Chica, Texas," he tweeted.   Musk confirmed that the current design will involve several legs attached to the rear of Starship, separating the fin-leg co
  • Airtel-Bharti AXA Life tie up for insurance with prepaid plan
    New Delhi, September 23 (IANS): As part of its strategy to leverage the deep penetration of mobile services to build a financially secure India, domestic telecom major Bharti Airtel has partnered with Bharti AXA Life Insurance to offer prepaid plan with insurance protection cover to all its customers across the country.   Airtel has introduced its innovative Rs 599 prepaid bundle with 2GB data/day, unlimited calls to any network and 100 SMS/day, and also offers Rs 4 lakh lif
  • India says no plans to revise fiscal deficit target or cut spending now
    India's Finance Minister Nirmala Sitharaman and the Reserve Bank of India (RBI) Governor Shaktikanta Das arrive to attend the RBI's central board meeting in New Delhi on July 8, 2019. (REUTERS File Photo)   NEW DELHI, September 23 (Reuters): India will not revise its fiscal deficit target immediately and is not planning any spending cuts at this stage, the finance minister said on Sunday, after slashing corporate tax rates to boost a flagging economy.   India cut
  • Indian masses have to wait 5-6 years for a true 5G experience
    Road to 5G. (IANS Inforgraphics)   New Delhi, September 23 (IANS): If you are going gaga over the arrival of 5G in your vicinity in India anytime soon so that you can download a Netflix original in a jiffy or avoid constant buffering as you share videos on social media, take heart. Despite tall claims made by the government, the 5G technology that is gaining momentum fast globally may take at least another 5-6 years to reach the masses in India - for the simple r
  • Thomson expands India business with audio products launch
    New Delhi, September 23 (IANS): French consumer electronics brand Thomson on Monday announced its entry in the Indian audio device market, a year after the successful launch of its Smart TVs in the country. Technicolor SA, the owner of the Thomson brand, has signed an exclusive licensing agreement with Envent Worldwide for the development of the audio range of products in India. The Indian agency LicenseWorks has helped in coordinating this licensing partnership with Techni
  • World’s oldest travel firm Thomas Cook collapses, over half a million holidaymakers stranded
    Thomas Cook banner is seen at Mallorca Airport after the world's oldest travel firm collapsed stranding hundreds of thousands of holidaymakers around the globe and sparking the largest peacetime repatriation effort in British history, in Palma de Mallorca, Spain on September 23, 2019. (REUTERS/Enrique Calvo)   LONDON, September 23 (Reuters): The world’s oldest travel firm Thomas Cook collapsed on Monday, stranding more than half a million holidaymakers around the glob
  • Corporate tax cut to help top 1,000 firms save Rs 37K cr: Report
    New Delhi, September 22 (IANS): Around 1,000 companies would save nearly Rs 37,000 crore due to recent corporate tax rate cut, according to a Crisil report on Sunday. A study of nearly 1,000 companies, spread across 80 sectors, which cover over 70 per cent of the National Stock Exchange's market capitalisation indicates that effective tax rates had risen over the past five years. These companies, including oil & gas and financial services, account for nearly one third of
  • No concern to asset quality post UBI, OBC merger: PNB CEO
    New Delhi, September 22 (IANS): The Punjab National Bank (PNB), which is the anchor bank for a scheduled merger with the United Bank of India (UBI) and the Oriental Bank of Commerce (OBC), has said that it does not see any erosion in asset quality after the merger and the best HR, process and products will be chosen for the consolidated entity to offer a win-win situation for the combined staff and customers of these three banks. “Everything relating to the merger is going on sm
  • Petrol price jumps Rs 1.59/ltr, diesel Rs 1.31/ltr after Saudi attacks
    NEW DELHI, SEPTEMBER 22 (PTI): Petrol prices have soared by Rs 1.59 a litre and diesel by Rs 1.31 in the last six days -- the most since daily price revision was introduced in 2017, as a massive strike at Saudi Arabian oil facilities jolted oil markets. Petrol price was on Sunday hiked by 27 paise to Rs 73.62 a litre in the Delhi market -- the benchmark for national rates, according to a price notification by state-owned oil firms. Price of diesel was increased by 18 paise to
  • ‘Restaurants losing customers post-Zomato Gold logout’
    New Delhi, September 22 (IANS): Zomato Gold has been a game changer in terms of driving the dine-out habits of customers, a new report has claimed, saying there has been a 20 per cent decline in bill volumes for partners after they logged out of Zomato Gold programme. Gold partners have witnessed growth over 35 per cent growth in bill volumes after partnering with Zomato Gold and weekday growth has been marginally better than weekend growth, said the report from Bengaluru-based re
  • Centre to tweak antidumping, subsidy rules in order to boost domestic industry
    NEW DELHI, SEPTEMBER 22 (PTI): The government will soon make changes in the rules of trade remedies such as antidumping and safeguard, for making them more effective to protect the domestic industry, an official said. The changes in the rules of antidumping, countervailing or anti-subsidy and safeguard have been approved by the commerce ministry and will soon be notified by the revenue department, the official said. These are trade remedy measures provided under the global trade n
  • Supply shortage sends onion prices soaring to 4-yr high
    A trader works on his accounts while sitting on sacks of onions at a wholesale market in the western Indian city of Ahmedabad February 4, 2013. (Reuters File photo)   New Delhi, September 21 (IANS): The spiralling onion prices due to supply shortage are proving difficult for the government to control.   Onion was quoted 25 per cent higher on Friday at Delhi's Azadpur Mandi, a major market of the Agriculture Produce Marketing Committee (APMC). Several other markets
  • Health, export key to become $5-tn economy: Niti Aayog VC
    Niti Aayog Vice Chairman Rajiv Kumar. (Reuters file photo)   New Delhi, September 21 (IANS): With India aiming to become a $5-trillion economy by 2025, Niti Aayog Vice Chairman Rajiv Kumar has said that the country needs to focus on making its people healthier, especially at the grassroots, and improve the export of goods and services.   "Our children aged between 6-24 months do not get the nourishment they deserve. While 38 per cent of our children are undernouri