Business

  • Google to alert your contacts if you're on vacation
    New Delhi, September 1 (IANS): Google is rolling out a new feature this month for its G Suite users where it will show a notification to your contacts in Gmail and Hangouts chats that you are away on vacation. Available for only G Suite (Google's enterprise customers) at the moment and not the ordinary Gmail users, the feature will be fully rolled out globally from September 16, Google said in a statement. "When you have an Out of office (OOO) entry on your calendar,
  • GST Council to decide on cutting vehicle rates: Sitharaman
    Chennai, Septemmber 1 (IANS): Finance Minister Nirmala Sitharaman on Sunday said that the GST Council will take the final call on reducing the tax rate on motor vehicles. Speaking to reporters here, she said that the government is addressing the issues of the automotive segment on the backdrop of the recent slowdown in sales. "One of the suggestion was the reduction of GST rate for the automobile sector, that of course... will have to go to the (GST) council, but oth
  • Beverage-makers rush to capture India's non-alcoholic malt drinks market
    New Delhi/Mumbai, September 1 (IANS): Seeing big opportunity in the country's non-alcoholic malt-drink market -- a niche but potentially a high-volume category -- global biggies such as Coca-Cola and Heineken have netered the beverage segment. A non-alcoholic malt drink is a high energy beverage, brewed in the same fashion as beer or ale. The beverage generally contains under 100 calories, compared to 300 of an average carbonated soft drink. Besides Heineken, Anheuser-
  • Toyota car sales plunge 24% in India in Aug
    Bengaluru, September 1 (IANS): Toyota Kirloskar Motor (TKM) here on Sunday reported a 24 per cent annual decline in car sales for August to 10,701 vehicles from 14,100 during the year-ago month due to economic slowdown. "The consumer sentiment was muted in August as customers deferred purchasing. Floods across some states also hurt the demand, while unfavourable exchange rate didn't help our cost," TKM deputy managing director N. Raja said in a statement. Export of i
  • IT Ministry partners Google on 'Build for Digital India'
    New Delhi, August 31 (IANS): The Ministry of Electronics and Information Technology (MeitY) on Saturday entered into a partnership with Google with the aim of rolling out "Build for Digital India", a programme that will give engineering students a platform to develop market-ready, technology-based solutions that address key social problems. The programme will invite ideas from students to focus on areas of healthcare, agriculture, education, smart cities and infrastructure,
  • Google-powered OnePlus TV to be an Android Device
    Bengaluru, August 31 (IANS): The first OnePlus TV will be an Android device loaded with Google Assistant, Chromecast built-in and Google Play, the company announced on Saturday. "Google has been strategic to us in India since the beginning, furthering our efforts towards our goal. "We believe that with our combined expertise, we can move ever closer to improve the human experience through simplicity, efficiency, and intelligent functionality," said Vikas Agarwal, Gen
  • Bank merger will not help recover bad loans: AIBEA
    Chennai, August 31 (IANS): The real agenda of the government in merging banks is to help big corporates as consolidation of the banks will not result in recovery of huge bad loans, said a top official of the All India Bank Employees' Association (AIBEA). Opposing the merger of 10 public sector banks into four, C. H. Venkatachalam, General Secretary of AIBEA, in a statement issued here said in the name of banking reforms the government is enabling banks to help corporates.
  • Govt unveils mega PSU bank mergers to usher in NextGen Banks
    The Union Minister for Finance and Corporate Affairs,  Nirmala Sitharaman addressing a press conference, in New Delhi on August 30, 2019.  The Secretary, Department of Financial Services, Rajiv Kumar, the Principal Director General (M&C), Press Information Bureau, Sitanshu R. Kar and other dignitaries are also seen. (PIB Photo)   New Delhi, August 30 (IANS) The government on Friday announced the mega-merger of 10 PSU banks into four, where the Punjab National B
  • Agri growth slumps to 2%, suggests rural distress real
    New Delhi, August 30 (IANS): In what gives a clue to why the country's largest biscuit selling firm Parle has seen volume of their Rs 5 pack of glucose biscuits slowing, the agriculture and allied activities fell sharply to 2 per cent in April-June quarter of current fiscal compared to 5 per cent in the same quarter of FY19. Most of the FMCG and automobile companies have seen significant drop in sales. Tractor sales have also lost force and reported a month-on-month decline.
  • Global headwinds hit growth, investment to pick up soon: CEA
    New Delhi, August 30 (IANS): Chief Economic Advisor Krishnamurthy Subramanian on Friday said there is "some slowdown" in GDP as global headwinds and trade wars are contributing to the slackness, expressing hope of investment to pick up in the coming quarters. "Investment drives our economy while consumption is a force multiplier. We Expect investment to pick up in the coming quarters", he said.  Commenting on the state of economy after the dismal GDP numbers for the Q1,
  • China has almost half a billion online gamers
    Beijing, August 30 (IANS): China had 494 million online game players by June, accounting for 57.8 per cent of all netizens in the country, according to a report on China's Internet development released Friday. Among them, 468 million play games on mobile phones, 9.23 million more than the previous year, Xinhua news agency reported. In the first half of the year, the online gaming population increased by 9.72 million, said the report released by the China Internet Network Inf
  • Q1 GDP growth at 5% falls to lowest in 6 years
    New Delhi, August 30 (IANS): Severe slowdown in manufacturing activity in the country pulled India's first quarter (Q1) 2019-20 growth rate to 5 per cent, marking the fourth successive quarter of decline in growth rate on the trot. This is the slowest GDP growth in the last over six years. From 8 per cent during Q1 2018-19 to 5 per cent in this quarter, the GDP has fallen by three per cent in barely a year. On a sequential basis, the growth rate came lower than the 5.8 per c
  • Sri Lanka begins massive project to develop ports
    Colombo, August 30 (IANS): The Sri Lankan government on Friday said it has begun a massive development project to further modernize its ports across the country in order to transform Sri Lanka into a maritime hub in the region. The government Information Department said in a statement that under this mega development project, the Port of Colombo will continue to develop its facilities for container handling by continuous addition of capacity, advanced handling and processing te
  • 'RBI's big transfer to Centre a 'one-off', may not sustain'
    New Delhi, August 30 (IANS): The size of Reserve Bank of India's (RBI) transfer of its surplus funds to the government is a "one-off" transaction and the bonanza may not sustain, Mumbai-based financial services company Edelweiss Securities said on Friday. RBI's annual accounts released on Thursday revealed how the central bank was able to pay an enormous surplus of Rs 1.76 trillion (Rs 1.76 lakh crore) for the 2018-19 accounting period.  "A substantial part in the accel
  • RBI's contingency fund declines 15%, says annual report
    Mumbai, August 29 (IANS): The Reserve Bank of India's contingency fund fell to Rs 1.96 lakh crore on June 30, 2019 compared to Rs 2.32 lakh crore on the same date last year, a drop of 15 per cent year-on-year, as per the central bank's annual report. The currency and gold revaluation account also saw a slide from Rs 6.96 lakh crore to Rs 6.64 lakh crore, the report said.   The contingency fund fell after the excess payout of Rs 52,000 crore. However as per
  • Flipkart to end single-use plastic in packaging by 2021
    Bengaluru, August 29 (IANS): E-commerce major Flipkart on Thursday said it plans to eliminate single-use plastic in packaging and move towards a 100 per cent recycled plastic consumption in its own supply chain by March 2021. The company said that as of August 1, 2019, it has achieved a 25 per cent reduction in single-use plastic, through various initiatives across its packaging value chain. "Flipkart also made a commitment to eliminate single use plastic in packagin
  • All airports to have body scanners in 2 years
    New Delhi, August 29 (IANS): All airports in the country will be equipped with body scanners in the next two years, a senior official of Bureau of Civil Aviation Security (BCAS) said on Thursday. The BCAS has made it compulsory to equip all airports with body scanners. The BCAS official said all major airports would get the equipment in a years' time. Body scanner is a security device that detects objects on a person's body without physical contact. The develo
  • Government launches civil aviation jobs portal
    New Delhi, August 29 (IANS): Civil Aviation Minister Hardeep Singh Puri on Thursday launched a civil aviation jobs portal for aspirants and prospective employers in the sector. The portal aims to provide a common platform for job seekers to register their job interests across various civil aviation sub-sectors.  According to the Ministry of Civil Aviation, prospective employers, who have completed their KYC under the Ministry of Corporate Affairs' MCA-21 databas
  • India's economic growth seen slipping in April-June, more stimulus expected
    Women commuters travel by a suburban train as they head toward their destination in Mumbai on July 5, 2019. (REUTERS File Photo)     NEW DELHI, August 29 (Reuters): India’s economy likely expanded at its weakest pace in more than five years in April-June, a Reuters poll showed, as consumer demand and private investment weakened at a time global trade frictions have dampened business sentiment.   Women commuters travel by a suburban train as they head
  • Online news outlets flouting 26% FDI in digital media
    New Delhi, August 29 (IANS): With the Union Cabinet approving 26 per cent foreign direct investment (FDI) in digital media with government approval, IANS has learnt that there are certain digital news platforms in India which are already flouting this cap.   For example, Bengaluru-based subscription-driven digital publication The Ken has already raised more than 26 per cent FDI.   According to the information available on The Ken portal, it has the "support of an