Business

  • Market borrowings touch 57% of Budget Estimates in June
    New Delhi, August 17 (IANS): The government's market borrowings have touched Rs 2.54 lakh crore, which is 57 per cent of the Budget Estimates, as of June 2019. The budgeted market borrowing is Rs 4.48 lakh crore for the fiscal.  On a comparison basis, the borrowing was 31 per cent in the same time of the last fiscal, as per the Controller General of Accounts.  Government raises funds from the market to fund its fiscal deficit through dated securities
  • Gold near record high on recession warnings
    Gold bullions. (IANS File Photo)   Mumbai, August 16 (IANS): Gold prices surged to near-record high levels yet again on Friday as renewed fears of a possible recession led investors to run for safe haven assets like gold. Gold prices had earlier fell sharply from its record highs after US deferred imposing fresh tariffs on imports of Chinese products. Despite this, closely watched recession indicators warned a possible recession -- typically defined as fal
  • Massive decline in India in coal power project lending: Report
    An Afghan man waits for customers at a coal market in Kabul. (IANS File Photo)    New Delhi, August 16 (IANS): A financial assessment on Friday revealed a massive 90 per cent decline in coal power investment in India in 2018 compared to the previous year. The report looks at coal and renewable energy project finance made in 2018 and compares that with the numbers in 2017. "Coal vs Renewables 2018" -- an annual energy investment trend report -- recorde
  • TRAI seeks relook at caps on channel discounts
    New Delhi, August 16 (IANS): The Telecom Regulatory Authority of India (TRAI) has issued a consultation paper to re-look at imposing restrictions on discounts offered by broadcasters on channel bouquets after the implementation of the new regulatory framework for cable and broadcasting services. The regulator on Friday hit out at the broadcasters and said the lack of any caps on discounts offered on bouquets, compared to a-la-carte channel pricing, is being "misused to thro
  • Govt will invest Rs 100 lakh cr on developing infrastructure: Modi
    Indian Prime Minister Narendra Modi addresses the nation during Independence Day celebrations at the historic Red Fort in Delhi, India, August 15, 2019. REUTERS/Adnan Abidi   New Delhi, August 15 (IANS) Prime Minister Narendra Modi on Thursday said his government will invest Rs 100 lakh crore on developing modern infrastructure that will aid in nearly doubling the size of the Indian economy to $5 trillion in the next five years. Addressing the nation from the rampart
  • India's bond rally fizzles on government spending fears
    An Indian one rupee coin is seen in this picture illustration taken in Mumbai on April 30, 2012. (REUTERS File Photo)       MUMBAI, August 14 (Reuters): A rally in government bonds, spurred by a large and surprise reduction in policy rates last week, has been cut short by renewed fears of government profligacy.   Since February, the Reserve Bank of India has cut the key policy rate by 110 basis points, which has pushed bond yields down significantly.
  • Building city on Mars could cost up to $10 trillion: Elon Musk
    Tesla CEO Elon Musk attends the Tesla Shanghai Gigafactory groundbreaking ceremony in Shanghai, China on January 7, 2019. (REUTERS File Photo)     San Francisco, August 14 (IANS): SpaceX CEO Elon Musk has not stopped at lofty talks of colonising Mars. He has even estimated the cost of having a self-sustaining civilization on the Red Planet which is "between $100 billion and $10 trillion".   Musk tweeted his estimates of building a city on Mars in response to
  • Now speak to Amazon messaging assistant in Hindi
    Bengaluru, August 14 (IANS): Amazon India on Wednesday launched its automated messaging assistant in Hindi for its customers who can get their queries resolved in the language of their preference.   The automated assistant is a chatbot powered by Amazon's Artificial Intelligence (AI) platform, leveraging Machine Learning (ML) and Natural Language Processing (NLP) capabilities for a seamless and friendly conversational experience for customers, the company said in a statement
  • iPhone XR takes Apple to top spot in Indian premium segment
    New Delhi, August 14 (IANS): Riding on heavy promotional offers especially on iPhone XR, Apple has regained top position in the premium smartphone segment in India in the second quarter (Q2) this year and should look forward to cement its position as festive quarters inch closer.   According to the International Data Corporation (IDC), in the premium ($500 or Rs 35,000 and above) segment, Apple bettered Samsung for the leadership position with an overall share of 41.2 per ce
  • 52% banks report fall in bad loans in January-June: Survey
    New Delhi, August 13 (IANS): The proportion of banks citing reduction in non-performing assets (NPAs) stood at 52 per cent in the January-June period as against 43 per cent in the previous round, a Ficci-IBA report said.   The current round of the bankers' survey presented an improved picture of the changing trend in NPAs.   Amongst the public sector banks (PSBs), about 55 per cent of lenders have cited reduction in NPA levels. Among the respondents stating infras
  • Slowdown continues: Domestic passenger cars sales plunge 36%
    Workers assemble a Tata Tigor car inside the Tata Motors car plant in Sanand, on the outskirts of Ahmedabad on August 7, 2018. (REUTERS File Photo)     New Delhi, August 13 (IANS): The slump in domestic passenger cars' sales continued with the segment's off-take plunging by 35.95 per cent in July.   Industry observers cited high cost due to GST and lack of adequate liquidity as the main reasons for the sales slowdown.   According to the Soc
  • Reliance-Microsoft tie-up poses threat to Amazon, Google in India
    Visitors stand in front of a display screen at Microsoft's new Oxford Circus store ahead of its opening in London, Britain on July 9, 2019. (REUTERS File Photo)   MUMBAI/COLOMBO, AUGUST 13 (REUTERS):Reliance Industries Ltd on Monday announced a partnership with Microsoft's Azure cloud platform, in a move that deepens the offerings of its Jio telecoms unit while posing a direct challenge to rival cloud services providers such as Amazon.com and Alphabet's Google.  
  • WordPress parent firm buys Tumblr for undisclosed amount
    San Francisco, August 13 (IANS): US carrier major Verizon has sold micro-blogging and social networking website Tumblr to blogging site WordPress' parent company Automattic Inc. for an undisclosed amount.   Post the acquisition, Tumblr would act as a "complementary" site to WordPress.   After purchasing Yahoo, Verizon had acquired Tumblr in 2017 and earlier this year, started to explore the option of selling the platform, The Verge reported on Monday quoting a Wal
  • India sees record 36.9mn smartphone shipments in Q2
    New Delhi, August 13 (IANS): India smartphone market saw its highest-ever shipment of 36.9 million in the second quarter (Q2) of 2019 -- with 9.9 per cent year-on-year (YoY) and 14.8 per cent quarter-on-quarter (QoQ) growth, a new report said on Tuesday.   According to the International Data Corporation's (IDC) "Asia/Pacific Quarterly Mobile Phone Tracker" report, Chinese handset maker Xiaomi saw its shipment volume grow by 4.8 per cent (YoY) in Q2 while Samsung registered a
  • Canon refreshes its flagship compact G series in India
    New Delhi, August 13 (IANS): Canon India on Tuesday expanded its flagship compact G series with the PowerShot G5 X Mark II and the PowerShot G7 X Mark III for Rs 64,995 and Rs 52,995, respectively.   "Our iconic PowerShot G series offers powerful imagery and advanced technology in a premium, yet compact form factor. We are delighted to announce the new entrants to the G series line-up, equipped with new user-friendly functionalities.   "The new cameras offer large
  • Bugs found in backend systems of top 5,000 free Android apps
    New York, August 13 (IANS): Cybersecurity researchers have identified more than 1,600 vulnerabilities in the support ecosystem behind the top 5,000 free apps available in the Google Play Store.   While the researchers from Georgia Institute of Technology and The Ohio State University studied only applications in the Google Play Store, applications designed for iOS may share the same backend systems.   The vulnerabilities were found in the backend systems that feed
  • India's crude oil imports are lacklustre, joining coal, LNG
    An employee demonstrates a sample of crude oil in the Yarakta Oil Field, owned by Irkutsk Oil Company (INK), in Irkutsk Region, Russia in this picture illustration taken on March 11, 2019. (REUTERS File Photo)     LAUNCESTON, August 12 (Reuters): India’s imports of crude oil have stalled in recent months, but the malaise in the country’s energy sector is deeper, with both coal and liquefied natural gas (LNG) also soft.   India, Asia’s second-biggest cr
  • First Hyundai Grand i10 NIOS rolls out of Chennai plant
    A worker demonstrates the usage of electrical vehicle (EV) charging cable at the flagging off ceremony of the Hyundai Motor India Ltd's electric sports utility vehicle (SUV) KONA Electric at the Tamil Nadu secretariat, in Chennai on July 24, 2019. (IANS File Photo)   Chennai, August 12 (IANS): Car maker Hyundai Motor India Ltd on Monday rolled out its first Grand i10 NIOS at its factory here, the company said. "This is a proud moment for us at Hyundai, with
  • Jio GigaFiber's commercial services start Sep 5
    Reliance Industries (RIL) Chairman Mukesh Ambani with his mother Kokilaben Ambani and wife Nita Ambani at RIL's 42nd Annual General Meeting in Mumbai on August 12. (IANS Photo)     Mumbai, August 12 (IANS): Reliance Industries (RIL) Chairman Mukesh Ambani on Monday announced the launch of Jio GigaFiber and said that the services would be available commercially from September 5. Speaking to shareholders at the 42nd Annual General Meeting (AGM), Ambani said
  • Tesla electric car catches fire after hitting tow truck in Moscow
    A Tesla car is seen in Santa Monica, California, United States on October 23, 2018. (REUTERS File Photo)     MOSCOW, August 11 (Reuters): A Tesla Model 3 electric car caught fire after crashing into a parked tow truck on a Moscow motorway late on Saturday, with the Tesla driver saying he had failed to see the vehicle with which he collided.   Asked in a video published on REN TV website if he was using an Autopilot self-driving system, driver Ale