Business

  • Lenovo launches ThinkBook Plus notebook, targets Indian SMBs
    NEW DELHI, SEPTEMBER 22 (IANS): Lenovo on Tuesday launched ThinkBook Plus, a dual screen notebook built for enhancing productivity for the modern workforce, in India at a starting price of Rs 99,990. The move comes even as the leading laptop and PC leader slowly transitions into an end-to-end services and solutions provider for Indian small and medium-sized businesses (SMBs) and enterprises. Available in an Iron Grey colour, ThinkBook Plus can now be purchased at Lenovo.com and A
  • ASUS forays into commercial PC market in India
    MUMBAI, SEPTEMBER 21 (IANS): ASUS India, the Indian arm of Taiwanese IT major, on Monday forayed into the commercial PC market in India with launching "Expert Series" brand with 11 devices across laptops, desktops and All-in-Ones, targeting the key enterprise segments in the country. Powered by Intel Core processors and variants with Windows 10 Pro support, the ASUS 'Expert Series' will offer innovative cutting-edge tech solutions for business users leveraging ASUS
  • 'Vodafone Idea's inability to raise debt may increase equity requirements' ​
    NEW DELHI, SEPTEMBER 21 (IANS): Vodafone Idea's inability to raise debt from external investors could increase equity requirements and push promoters to subscribe to the debt issuance too, according to a report by US financial services house Morgan Stanley. The company has announced that the Board of Directors have approved a fund-raising plan through a mix of debt (debentures) up to Rs 150 billion and equity up to Rs 150 billion. The mix of equity and debt would be managed in a
  • 2-year wait for states not opting for GST compensation formula
    NEW DELHI, SEPTEMBER 21 (IANS): States which failed to submit their options before the GST Council meeting in October will have to wait for at least two years to get compensation on Goods and Services Tax collection shortfall expected during the transition period, Finance Ministry sources said on Monday. The sources said that such states will have to wait till June 2022 to get compensation dues, subject to the condition that the GST Council extends the cess collection period beyond
  • Amazon India helps artisans, weavers double their sales in 10 weeks
    BENGALURU, SEPTEMBER 21 (IANS): Customers from more than 12,000 pincodes in India purchased a product from the 'Stand for Handmade' store front, helping artisans, weavers and women entrepreneurs double their sales in the 10-week period, Amazon India said on Monday. The 'Stand for Handmade' initiative, to help over 10 lakh artisans and weavers and women entrepreneurs, enabled sellers from Amazon Karigar (for weavers and artisans) and Amazon Saheli (for women entrepren
  • Google Pay rolls out NFC-Based tokenised card payment in India
    NEW DELHI, SEPTEMBER 21 (IANS): Google Pay in collaboration with Visa and banking partners on Monday rolled out tokenisation across its platform, enabling users to safely transact with their cards and use Tap-to-pay feature on near-field communication (NFC)-enabled point of sale (POS) terminals and online merchants. The feature is now available to users of Axis and SBI Card, with Kotak and more banks expected to follow suit very soon. With tokenisation, Google Pay Android users c
  • New law to define agricultural products, trade areas
    NEW DELHI, SEPTEMBER 21 (IANS): Aiming to double farmers' income by 2022, the Modi government has enacted a new law to provide an alternative channel for the sale of farm produce, apart from the agri markets operated under Agricultural Produce Marketing Committee (APMC) Acts of the respective states. Under the new law, food grains like wheat, rice, coarse grains, pulses, oilseeds, edible oils, vegetables, fruits, nuts, spices, sugar cane, poultry, pigs, goats, fish, and dairy pr
  • Visa, IfundWomen grant to empower Indian women entrepreneurs
    MUMBAI, SEPTEMBER 21 (IANS): Visa along with its global partner IFundWomen on Monday announced a grant programme to empower women entrepreneurs in India. The digital payments technology leader will seek applications from women entrepreneurs across all sectors till October 20 and applicants need to submit details about their business and online presence, along with a short video about their business to www.ifundwomen.com/visa-india. Three winners will be selected and receive grant
  • GST compensation: 1st option set to get nod with 21 states on board
    NEW DELHI, SEPTEMBER 20 (IANS): With 21 states expressing their preference for the Borrowing Option-1 proposed by the Centre to meet the GST compensation needs of states this year, decks have been cleared for the GST Council to approve the new compensation mechanism and make it universally applicable across all states and Union Territories at its next meeting on October 5. Finance Ministry sources said that GST Council, as per the GST Act, needs only 20 states to pass any resolution
  • 5% custom duty on Open Cell from Oct 1 even as domestic TV manufacturing yet to pick pace
    NEW DELHI, SEPTEMBER 20 (IANS): Government will put five per cent customs duty on Open Cell, a key component for television manufacturing, from October 1, 2020, as one year exemption given to it ends on September 30. The tax exemption on the key TV component was extended to the industry last year to give it time to develop domestic manufacturing capability. But with Open Cell manufacturing capacity still to come up in a big way in India, the imposition of duty, industry fears, would
  • Business sentiments recover, weak demand continues: CII Survey
    NEW DELHI, SEPTEMBER 20 (IANS): With the gradual lifting of the restrictions on economic activities across the country, business sentiments have recovered with the CII Business Confidence Index surging to 50.3 in the July-September period. During the April-June quarter of 2020, it recorded its lowest reading at 41.0. "The stellar recovery in the index has been supported by the remarkable increase in the Expectations Index (EI), which rose 46 per cent quarter-on-quarter, to t
  • ByteDance gets Trump nod to avoid TikTok shutdown
    WASHINGTON/NEW YORK, September 20 (Reuters): U.S. President Donald Trump said on Saturday he supported a deal in principle that would allow TikTok to continue to operate in the United States, even as it appeared to conflict with his earlier order for China's ByteDance to divest the video app. ByteDance was racing to avoid a crackdown on TikTok after the U.S. Commerce Department said on Friday it would block new downloads and updates to the app come Sunday. U.S. officials had exp
  • Fin Min directs customs for strict scrutiny of imports to prevent FTA misuse
    NEW DELHI, SEPTEMBER 18 (IANS): Government has directed customs formations across the country for strict scrutiny of all imports from free trade agreement (FTA) countries to prevent entry of goods at concessional duty misusing the country of origin rules. The idea is to plug third country imports from countries such as China reach ing India using the concessional duty or zero-duty benefit available under FT As. While India has signed FTAs with several key countries, such as
  • Google Play store removes Paytm app citing gambling policy
    New Delhi, September 18 (IANS): Google has removed digital payments major Paytm's app from its Play Store for allegedly violating its gambling policies. "Paytm Android app is temporarily unavailable on Google's Play Store for new downloads or updates. It will be back very soon," the company said in a tweet on Friday. "All your money is completely safe, and you can continue to enjoy your Paytm app as normal," it added. Google said that it does not al
  • Kia Motors India launches its compact SUV Sonet
    New Delhi, September 18 (IANS): Automobile manufacturer Kia Motors India on Friday launched its first-ever compact SUV "Sonet" in India. According to the company, the Sonet's entry-level 'HTE smartstream G1.2 5MT' variant debuts at Rs 671,000 (ex-showroom, pan-India). The Sonet is being offered across 17 variants, including two petrol engines, two diesel engines, five transmissions and two trim levels - Tech Line and GT-Line. The company announced that it ha
  • Bullet train project to create more than 90,000 direct, indirect jobs
    New Delhi, September 17 (IANS): Prime Minister Narendra Modi's ambitious 508-km Mumbai-Ahmedabad high speed rail project, popularly known as 'bullet train project', will create more than 90,000 direct and indirect jobs during the construction phase. National High Speed Rail Corporation Ltd (NHSRCL) spokesperson Sushma Gaur said, "The Mumbai-Ahmedabad high speed rail project will create more than 90,000 direct and indirect jobs in various categories during constructi
  • Credit outlook moderately negative for gold jewellery retailers: Crisil
    NEW DELHI, SEPTEMBER 17 (IANS): Slack demand, resulting in lower cash accrual, along with elevated inventory levels and curtailed bank finance, will lead to a moderately negative credit outlook for gold jewellery retailers this fiscal, Crisil Research said on Thursday. An analysis of 92 gold jewellery retailers, accounting for 40 per cent of the sector's revenue, showed that the number of new store additions is expected to reduce to almost by a third of the average between fisca
  • Decade long payment default finally pushes ONGC out of Sudanese oilfield
    NEW DELHI, SEPTEMBER 17 (IANS): After facing years of payment default, the country's largest oil and gas explorer Oil and Natural Gas Corporation has finally exited from Sudanese oilfields, relieving itself of yet another toxic overseas asset. Company sources said that all the three overseas investors in the Sudanese oilfield including ONGC Videsh Ltd (OVL), the overseas investment arm of the state-owned firm, Chinese entity CNPC and Malaysia's Petronas have now withdrawn fr
  • Samsung aims to sell 2 crore 'M' series phones in India by 2020 end
    NEW DELHI, SEPTEMBER 17 (IANS): Samsung India is aiming to sell 2 crore units of its online-exclusive Galaxy 'M' series smartphones in India by the end of this year, a top company executive said on Thursday. To compete with the growing share of Chinese players like Xiaomi and Vivo in the mid-budget segment, Samsung came up with a brand new, online-exclusive Galaxy M series for millennials as an online exclusive in January last year. In almost a year-and-a-half time span,
  • Relief for Anil Ambani as SC dismisses SBI plea
    NEW DELHI, SEPTEMBER 17 (IANS): The Supreme Court on Thursday dismissed a plea by the State Bank of India (SBI) seeking a vacation of the stay granted by Delhi High Court on personal bankruptcy proceedings against Anil Ambani, chairman of Reliance Group. The Supreme Court bench, headed by Justice L. Nageswara Rao, directed the Delhi High Court to consider the issue on October 6. The bench, also comprising Justices Hemant Gupta and S. Ravindra Bhat, gave liberty to SBI to seek mod