Business

  • 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
  • Second Covid wave heightens risks for India's banks: Fitch
    NEW DELHI, APRIL 9 (IANS): India's second wave of Covid-19 infections pose an increased risk to the country's fragile economic recovery and its banks, Fitch Ratings said. Accordingly, Fitch expects a moderately worse environment for the India's banking sector in 2021, but headwinds would intensify should rising infections and follow-up measures to contain the virus further affect business and economic activity. Lately, India's active Covid-19 infections have been
  • Siemens ties up with Hinduja Group for EV charging infra
    Chennai, April 9 (IANS): Siemens Limited and the Hinduja group's Switch Mobility Automotive Limited have signed a Memorandum of Understanding (MoU) to play in the electric commercial vehicles segment. Siemens also said Siemens Financial Services (SFS), the financing arm of Siemens AG, would consider a minority investment in OHM Global Mobility Private Limited, another Hinduja group company. While Switch Mobility would bring in its electric commercial vehicles into India,
  • Hyundai expands key plant suspension on chip shortage
    Seoul, April 9 (IANS): Hyundai Motor said on Friday it will temporarily suspend another domestic plant next week due to an electronic parts shortage. Hyundai will halt the operation of the Asan plant, 100 kilometers south of Seoul, which produces the Grandeur and Sonata sedans, from Monday to Tuesday, a company spokesman said over the phone. Previously, the country's biggest carmaker said it would suspend the No. 1 plant in Ulsan, 414 km southeast of Seoul, which produce
  • Sony launches BRAVIA X80J Google TV series in India
    New Delhi, April 9 (IANS): Sony India on Friday unveiled all-new X80J Google TV series with 4K Ultra HD LED display at Rs 1,30,000. The new X80J TV series is available in 189 cm (75-inch), 165 cm (65-inch), 140 cm (55-inch), 126 cm (50-inch) and 108 cm (43-inch). The new lineup integrates Google TV that allow users to browse upto more than 700,000 movies and TV episodes from across your streaming services. "The new BRAVIA X80J lineup powered with Dolby Vision is an HDR so
  • Sensex sheds major gains, rupee continues to weaken
    MUMBAI, APRIL 8 (IANS): As the resurgent Covid cases raise concerns of impact on economic recovery, key Indian equity indices shed their major initial gains to end marginally higher on Thursday. Noting that equity markets gained for the third day in a row, Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services Ltd, said that last hour selling in banking and financials capped the gains. "Global markets were mixed after Federal Reserve's commentary re
  • Maximum balance for payments bank customers raised to Rs 2 lakh
    MUMBAI, APRIL 8 (IANS): The Reserve Bank of India (RBI) has enhanced the maximum balance at the end of the day for payments banks to Rs 2 lakh per customer with immediate effect. The development comes a day after RBI Governor Shaktikanta Das announced the central bank's decision to enhance the limit. "Considering the progress made by PBs (payments banks) in furthering financial inclusion and with the objective of giving more flexibility to the PBs, it has been decided to
  • Driven exports worth $3B, created 1M jobs in India: Amazon
    BENGALURU, APRIL 8 (IANS): Providing a glimpse of its growth in the India market, Amazon on Thursday said that it has digitised 25 lakh MSMEs, enabled cumulative exports worth $3 billion, and helped create nearly 10 lakh direct and indirect jobs in India since 2013. Since January 2020 alone, nearly 2.5 lakh new sellers have joined Amazon.in, and the number of direct and indirect jobs the company helped create reached nearly 3 lakh during this period which saw widspread disruptions d
  • Canadian organic skincare line launches in India
    NEW DELHI, APRIL 8 (IANS): Canadian organic skincare line, Refresh Botanicals, announced its launch in India. The brand which was launched in 2017 in Canada, became a household favourite for natural and organic skincare and became popular across Canadian and US markets. The organic brand features products made through scientifically proven formulations that result in diminishing fine lines and increasing intracellular water by 85 per cent in only two weeks. Additionally, it is packed w
  • Retail sector revives hiring as 2nd Covid wave haunts India
    NEW DELHI, APRIL 8 (IANS): As the second Covid wave begins to haunt us, a new report said on Thursday that apart from the IT-software industry, retail sector that was severely impacted by the pandemic has seen robust revival in hiring that saw an uptick of more than 15 per cent in March. Amid the wave of digital transformation, the IT-software sector once again remained shielded and hiring continued to grow by 11 per cent in the sector in March over February. Overall across indus
  • SBI, NPCI launch UPI awareness campaign for YONO users
    NEW DELHI, APRIL 8 (IANS): The country's largest lender State Bank of India (SBI) and the umbrella body of retail and digital payments National Payments Corporation of India (NPCI) have joined hands to launch a dedicated campaign to focus on deepening the reach of UPI transactions across all sections of the population. The joint initiative aims at encouraging users of SBI's banking and lifestyle platform YONO to opt for UPI payments which is easy, safe and instantaneous.