Business

  • RBI directs banks to halve dividend payouts amid 2nd Covid wave
    Mumbai, April 23 (IANS): The Reserve Bank of India (RBI) has directed the banks to restrict dividend payouts to 50 per cent in a bid to conserve capital and stay resilient. In a notification to all the commercial and co-operative banks, RBI said that in view of the continuing uncertainty caused by the ongoing second wave of Covid-19 in the country, it is crucial that banks remain resilient and proactively raise and conserve capital as a bulwark against unexpected losses. "Th
  • Zomato CEO says no DRHP with SEBI yet, as firm plans IPO
    New Delhi, April 23 (IANS): Zomato CEO Deepinder Goyal on Friday refuted a report claiming the company is likely to file its Draft Red Herring Prospectus (DRHP) with the Securities Exchange Board of India (SEBI), as the food delivery platform plans an initial public offerings (IPO) this year that has left millions devastated in the second lethal Covid wave. In a tweet, Goyal said the speculation is "incorrect". "This is incorrect. Wouldn't typically comment on
  • realme 8 5G launched in India starting at Rs 14,999
    NEW DELHI, APRIL 22 (IANS): Chinese smartphone maker realme on Thursday launched a 5G enabled smartphone, realme 8 5G, for India market that comes in two storage variants. realme 8 5G with 4GB+128GB storage variant is priced at Rs 14,999 and 8GB+128GB variant at Rs 16,999. The smartphone will be available in two colours -- supersonic blue and supersonic black -- on realme's website, Flipkart and mainline channels from April 28. "We will bring more 5G smartphones to ev
  • Indian Railway starts Oxygen Expresses to meet demands in hospitals
    NEW DELHI, APRIL 22 (IANS): To meet oxygen demands in Covid-19 hospitals, the Indian Railways is to start running 'Oxygen Expresses' to ensure unhindered supply of the gas and also set up "green corridors" for swift supply. "First Oxygen Express with liquid medical oxygen (LMO) tankers is going to start its journey for Mumbai from Visakhapatnam tonight," the Railways said in a statement. Tankers filled with LMO at Visakhapatnam are being transported th
  • Hackers hit Apple in $50M ransomware attack via MacBook supplier
    SAN FRANCISCO, APRIL 22 (IANS): Russia-based hackers have hit Apple in a $50 million ransomware attack via a Taiwan-based company that manufactures MacBooks and other products for the Cupertino-based iPhone maker, the media reported. According to The Record, the operators of the REvil ransomware are demanding that Apple pay a ransom demand to avoid having confidential information leaked on the Dark Web. The cybercriminals timed the attack to coincide with Apple's "Spring
  • Case filed against TikTok for illegally collecting kids data
    LONDON, APRIL 22 (IANS): A case has been filed against the Chinese short-video making app TikTok, alleging that it illegally collects the personal information of its child users, the media reported. A former children's commissioner for England, Anne Longfield, has lodged a claim in the high court on behalf of millions of children in the UK and the European Economic Area who have used TikTok since 25 March 2018. According to The Guardian, Longfield alleges the app is breaching
  • Vi Business Plus introduces new mobility offerings for enterprises
    MUMBAI, APRIL 22 (IANS): Vi Business, the enterprise arm of Vodafone Idea Ltd (VIL), has introduced new post-paid plans designed for businesses and working professionals. Vi Business Plus is a mobility solution, which enables mobile workforce to connect, communicate, collaborate and do a lot more with their post-paid plans. Starting at Rs 299, Vi Business Plus enables enterprises, small businesses, and their workforce more flexibility to connect in an efficient and secure manner,
  • P&G commissions first in-house solar plant in India
    HYDERABAD, APRIL 22 (IANS): Procter & Gamble's manufacturing site in Hyderabad became its first site in India to house a solar plant. This is P&G's only the fifth manufacturing site globally to commission in-house solar plant. Spread over 16,000 square meters and comprising nearly 3,000 panels, the in-house solar plant has a capacity of one Megawatt clean energy production and will reduce the company's carbon footprint by an estimated 1,030 tonnes annually. Ac
  • Instagram's new feature to combat hate speech, abuse
    SAN FRANCISCO, APRIL 21 (IANS): Facebook-owned Instagram on Wednesday announced a new feature to protect people from seeing abusive direct messages (DMs), as well as the ability to prevent someone you've blocked from contacting you from a new account. The new feature is designed to help protect users from potentially offensive or abusive DM requests. "Using this feature doesn't share the content of your DM requests with us unless you report them," the company sa
  • Hyundai Motor to phase out Kona EVs in domestic market
    SEOUL, APRIL 21 (IANS): Hyundai Motor has stopped the production of the Kona Electric for the domestic market in a move to phase out the model undergoing recalls over battery fires and shift its focus to Ioniq 5 EVs, company officials said on Wednesday. The Kona EV is Hyundai's bestselling EV model launched in April 2018, but the compact SUV's image has been tainted by a series of battery fires, which prompted the automaker to recall over 75,680 units in February jointly wit
  • Discord ends talks with Microsoft for its $10B acquisition deal
    San Francisco, April 21 (IANS): Popular online chat app Discord has reportedly ended talks with Microsoft for its $10 billion acquisition deal, The Wall Street Journal reported, as the company now aims to launch an initial public offering (IPO). Reports surfaced last month that in a bid to enter the competitive social media market, Microsoft may acquire popular chat and communications platform Discord for more than $10 billion. "Those talks ended without a deal, though it is
  • Brace for hike in petrol, diesel prices post elections
    New Delhi, April 21 (IANS): Petrol and diesel prices may increase soon at the end of the ongoing Assembly elections with oil companies looking to raise the retail price of the two auto fuels between Rs 2 and Rs 3 per litre in phases and make up for the losses they incurred by keeping the prices at artificially low levels in the run up to the local elections. Government sources said that oil companies are making losses to the tune of Rs 3 and Rs 2 per litre on sale of petrol and dies
  • Sony unveils X75 Android TV series in India
    NEW DELHI, APRIL 21 (IANS): Sony India on Wednesday unveiled a new X75 Android TV series that comes with 4K Ultra HD LED display. The new BRAVA X75 series is available across all Sony Centers, major electronic stores and e-commerce portals in two sizes -- 50-inch and 43-inch -- at Rs 72,990 and Rs 59,990, respectively. The new X75 Android TV series comes with a powerful X1 4K processor that uses advanced algorithms to cut noise and boost detail, the company said in a statement.
  • Petrol, diesel price unchanged for 6th consecutive day
    NEW DELHI, APRIL 21 (IANS): Fuel prices in the country remained unchanged on Wednesday as oil marketing companies decided to go on a pause mode and analyse the global developments on oil prices before effecting a revision. Accordingly, pump price of petrol and diesel remained at Rs 90.40 a litre and Rs 80.73 a litre respectively in Delhi. The price of the two auto fuels had fallen by 16 paise and 14 paise per litre respectively last week on Thursday after a 15-day break when OMCs
  • New lockdown norms panics market, Sensex ends in red
    MUMBAI, APRIL 20 (IANS): India's key equity indices ended Tuesday's trade in the red after more stringent lockdown norms were announced by the Maharastra government. The new norms panicked investors into a late session sell-off. Both the key indices ceded their early gains which came a day after the Centre decided to liberalise the vaccination drive. The decision allowed the two indices to open with a positive upbeat. Globally, Asian stock markets were largely down
  • Motorola launches two new affordable smartphones in India
    NEW DELHI, APRIL 20 (IANS): Motorola on Tuesday launched two new affordable G Series smartphones -- Moto G60 and Moto G40 -- in India, which will be available on Flipkart. The new Moto G60 will be available from April 27 at just Rs 17,999. While Moto G40 fusion will go on sale from May 1. It is priced at Rs 13,999 for the 4GB+64GB variant and Rs 15,999 for the 6GB+128GB variant. Both Moto G60 and Moto G40 fusion are thoughtfully designed and exquisitely crafted. Tinted housing su
  • itel and Jio to bring in superior mobile experience for Bharat
    NEW DELHI, APRIL 20 (IANS): itel is all set to enter into an exclusive partnership with Reliance Jio to bridge the digital divide by offering affordable mobile-based connectivity solutions for the new India -- Bharat. The partnership, which might be announced in May, would focus on the feature phone users who are vying to upgrade to smartphones to enjoy complete freedom to digitalization. With this partnership, we can surely expect to see some unique and path-breaking offerings t
  • India strategic investment plans intact: Coca-Cola
    NEW DELHI, APRIL 20 (IANS): Beverage major Coca-Cola Indias strategic investment of building long term presence in India is intact, a senior company executive told IANS. The-newly appointed President of Coca-Cola India and South West Asia, Sanket Ray said: "We firmly believe that India as a market has phenomenal business potential over the long term. "Our strategic investment of building long term presence in India is intact. To capture this growth potential, our journe
  • India to be third contributor to global GDP by 2040: US report
    NEW DELHI/WASHINGTON, APRIL 20 (IANS): While China will overtake the United States as the largest economy in the world by 2040, India will be a distant third contributor to the global GDP. This statistical prediction made by Oxford Economics has been published in the seventh edition of the US National Intelligence Council's Global Trends report. The document, published every four years since 1997, assesses the key trends and uncertainties that will shape the strategic environmen
  • No financial data of Domino's India users leaked: Jubilant
    NEW DELHI, APRIL 20 (IANS): Jubilant Foodworks that owns the master franchise for Domino's Pizza in India on Tuesday said that although it experienced an information security incident, no financial data like credit card details of its users in the country were leaked on the Dark Web. On Sunday, Alon Gal who is CTO of cyber security firm Hudson Rock, claimed that credit card details of nearly 10 lakh people who purchased online on Domino's Pizza India is allegedly being sold