First time in 20 yrs, Indian mobile phone sales drop

New Delhi, May 18 (IANS/IndiaSpend): Indian mobile-phone sales have dropped for the first time in 20 years, raising the question: Is a slowdown at hand for the world’s fastest-growing smartphone market?   Mobile sales dropped 14.5% the first quarter (Q1, January-March) 2015, on a quarter-to-quarter basis, compared to Q4 (October-December) 2014 — from 62 mn […]

Adani, Bharti grab bulk of 26 deals worth $22 bn with China

Shanghai, May 16 (IANS): Twenty six pacts worth $22 billion! That was the sum and substance of the pacts signed between the businesses of India and China on Saturday, the major ones accounted for by the Adani and Bharti groups, coinciding with Prime Minister Narendra Modi’s visit here.   The pacts were signed against the […]

Greed bad for business

New York, May 16 (IANS): Top managers who cannot resist demanding hefty compensation even in a company’s times of stress end up harming the organisation, three new studies suggest. Greedy chief executive officers (CEOs) tend to take certain risks only to advance their short-term interests without thinking about the company’s future, the studies noted.   […]

‘Tough times ahead for public sector banks’

Chennai, May 15 (IANS): Government-owned mortgage lenders are suffering slippages in their non-performing assets (NPA) and would continue to lose business to private sector players till the Indian economy picks up, say experts.   “It is seen from the results declared by the government-owned banks they are continuing to suffer slippages in their NPA levels. […]

Coal India donates Rs.5 cr to PM’s relief fund

Kolkata, May 15 (IANS): World’s largest coal miner Coal India Limited (CIL) on Friday contributed Rs.5 crore to the Prime Minister’s relief fund to help the quake-stuck people in Nepal and some states in India. CIL chairman Sutirtha Bhattacharya handed over the cheque to union Minister of State for Coal and New and Renewable Energy […]

RBI governor concerned over size of non-performing loans

Benaulim (Goa), May 14 (IANS): Reserve Bank of India (RBI) Governor Raghuram Rajan Thursday said that the size of the non-performing loans (NPL) in the banking sector was a matter of concern, but ruled out the possibility of the issue leading to a financial crisis.   Rajan, who was addressing a press conference after a […]

News in Brief

Phek DPDB discusses absence of telecommunications Phek, May 14 (DIPR): The Phek District Planning & Development Board meeting was held at DPDB Conference Hall Phek on May 12 under the chairmanship of Deputy Commissioner and Vice Chairman DPDB Phek, Murohu Chotso. The meeting deliberated the representation submitted by President of Phokhungri Public Organisation (PPO) regarding […]

10 RS members for land bill committee

New Delhi, May 13 (IANS): Ten Rajya Sabha members have been named for a joint parliamentary committee on the land acquisition bill.   The members are Prabhat Jha and Ram Narain Dudi of the BJP, Digvijaya Singh, Jairam Ramesh and P.L. Punia of the Congress, Ram Gopal Yadav of the Samajwadi Party, Sharad Yadav of […]

Google to build largest campus outside US in Hyderabad

Hyderabad, May 13 (IANS): Global Internet services company Google will build its largest campus outside the US in Hyderabad with an investment of Rs.1,000 crore, announced Telanagana Information Technology Minister K. Tarakarama Rao on Tuesday.   The minister, who is on a visit to the US, said the state government has signed a memorandum of […]

Telecom giant Verizon acquires AOL for $4.4 bn

New York, May 13 (IANS/EFE): Telecom giant Verizon Communications Inc. said it was acquiring digital content provider AOL Inc. for $4.4 billion. It is paying $50 per share for AOL, a premium of 17.4 percent over the stock’s closing price of $42.59 on Monday. “Verizon’s vision is to provide customers with a premium digital experience […]

Cabinet approves stake sale in Indian Oil, NTPC

New Delhi, May 13 (IANS): The union cabinet on Wednesday approved the sale of a 10% stake in Indian Oil Corp and a 5% stake in NTPC, a government source said here. The proposed sale of 5% stake in NTPC is expected to fetch the exchequer around Rs.5,500 crore, while that of 10% stake in […]

NStCB educates farmers on banking activities

Chozuba, May 12 (MExN): The Nagaland State Co-operative Bank Ltd (NStCB), Chozuba Branch organised a Financial Literacy Camp cum Banking Services Program at Khusomi Village on May 8. It was supported under FIF Managed by NABARD.   The programme was organised to facilitate and educate the rural poor farmers on the concept of banking activities […]