Business

  • Stricter e-commerce norms to come in, flash sales may be history
    NEW DELHI, JUNE 21 (IANS): The government plans to revise the e-commerce regulations in the country and bring about stricter norms, wherein the much talked-about flash sales may prohibited. As per the new draft regulations, no e-commerce entity shall allow any display or promotion of misleading advertisements, whether in the course of business on its platform or otherwise. Further, if the norms come into effect, every e-commerce shall establish an adequate grievance redressal mec
  • Google to help journalists create their own startups
    SAN FRANCISCO, JUNE 21 (IANS): Google on Monday said it is looking for its next group of aspiring journalism entrepreneurs to turn their ideas into real businesses. Applications are now open to US residents for the 2021 Google News Initiative (GNI) Startups Boot Camp. The programme will run from September 7 to November 5 (with a one-week break) and aims to accept 24 projects. The application window will closes on August 1. "If you're a journalist who's ready to st
  • Reliance Retail best placed to win share in fresh food, rapidly accelerate store rollout
    NEW DELHI, JUNE 21 (IANS): Reliance Retail is best placed to win share in fresh food, rapidly accelerate store rollout and target the widest assortment through multiple formats and channels, Goldman Sachs said. "We see three drivers for Reliance Retail's grocery business: (1) Omni-channel push with online share gains driven by Jiomart while leveraging its large offline store network; (2) Expanding presence in fresh, where Reliance is the largest player but remains under-ind
  • Samsung to unleash the power of 5G, bets big on 6G tech
    NEW DELHI, JUNE 21 (IANS): As 5G begins to enrich customer experiences in several countries across industries, South Korean tech giant Samsung is all set to showcase its continued innovations around 5G and what lies ahead on the 6G cellular technology. The company which has started working on the 6G technology and expects completion of the 6G standard and its earliest commercialisation by as early as 2028, will hold 'Samsung Networks: Redefined' virtual event on Tuesday to u
  • Fuel prices unchanged on Monday
    New Delhi, June 21 (IANS): Fuel retailers spared consumers of further increase in prices by keeping retail rates of petrol and diesel unchanged on Monday. The price pause came after the rates were raised on Sunday, the tenth increase so far in the month of June. With fuel prices remaining unchanged on Monday, petrol continues to cost Rs 97.22 per litre and diesel Rs 87.97 per litre in Delhi. Across the country as well the petrol and diesel rates remained static on Monday but t
  • Maruti Suzuki to hike prices in next quarter
    Mumbai, June 21 (IANS): Maruti Suzuki will raise prices of its vehicles during the July-September quarter due to high input costs. In a regulatory filing, the company said that over the past year the cost of the company's vehicles continued to be adversely impacted due to increase in various input costs. "Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price rise," it said. The compan
  • EPFO payroll data shows 12.76 lakh subscribers added in April
    New Delhi, June 20 (IANS): The provisional payroll data of the Employees' Provident Fund Organisation (EPFO) on Sunday shows that it has added around 12.76 lakh net subscribers during April this year. Despite the second wave of Covid-19 pandemic, there was an increase of 13.73 per cent net subscribers during April as compared to the previous month during which around 11.22 lakh net subscribers were added to the payroll. Data reflects that the number of exits in the April have
  • Reliance Group market capitalization surges 1,000% to nearly Rs 8K cr
    MUMBAI, JUNE 20 (IANS): The market capitalization of Anil Ambani led Reliance Group has surged by over 1,000 per cent in less than 3 months. The market cap of the group, which stood at Rs 733 cr in March, jumped to Rs 3,890 cr in May 2021, and Rs 7,866 cr on the last trading day of this week i.e. June 18, 2021. The market capitalization of the group companies, Reliance Infrastructure, Reliance Power, and Reliance Capital has more than doubled over the last 20 trading days. The
  • Tesla built its own Model 3-based police car in UK
    London, June 19 (IANS): Elon Musk-owned electric vehicle company Tesla has reportedly built its police car based on the Model 3 electric sedan in the UK and it plans to use it to test the UK emergency vehicle market. Tesla UK has revealed police liveried Model 3 saloon fitted with blues-and-twos, which the company said will be available to emergency services across the UK for trial and assessment. The automaker did not reveal any specs for the new vehicle, but it looks like
  • IMF proposes setting up of an int'l carbon price floor
    Washington, June 19 (IANS): The International Monetary Fund (IMF) has proposed to set up an international carbon price floor to help limit global warming and achieve the transition toward low carbon growth over this decade. "Gradually increasing price on carbon encourages innovation and transition to renewable energy, clean mobility, and low carbon technologies," IMF Managing Director Kristalina Georgieva said on Friday. "Limiting global warming to 1.5 to 2 degrees
  • India's forex reserves rise by over $3 bn
    Mumbai, June 19 (IANS): India's foreign exchange reserves rose by $3.074 billion during the week ended June 11. According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $608.081 billion from $605.008 billion reported for the week ended June 4. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary
  • Fuel prices remain unchanged on Saturday
    New Delhi, June 19 (IANS): Fuel retailers spared consumers of any further increase in prices by keeping retail prices of petrol and diesel unchanged on Saturday. Accordingly, petrol continues to cost Rs 96.93 per litre and diesel Rs 87.69 per litre in Delhi. Across the country as well the petrol and diesel prices remained static on Saturday but its actual retail prices varied depending on the level of local levies in respective states. In the city of Mumbai, where petrol
  • Railways approves operation of 660 more trains
    New Delhi, June 18 (IANS): Keeping in view the demand and unlock in several states with the Covid cases dropping below one lakh in last 12 days, the Indian Railways on Friday said that it has given the approval to operate 660 more trains in a graded manner. The Railway Ministry, in a statement, said that with the flattening of the coronavirus curve, Indian Railways is enhancing the number of special trains to facilitate the travelling public, to provide trains for the movement of mi
  • Mild recovery in consumer confidence in June: Report
    NEW DELHI, JUNE 18 (IANS): Consumer Confidence for urban Indians has shown mild recovery in June 2021 with a slight uptick of 1.4 percentage points, over the previous month, according to the monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI). The marginal recovery comes after a sharp plunge of 6.3 percentage points in May, due to the resurgence of the outbreak. The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, is a mixed bag. The
  • Neo-Retro: Yamaha launches motorcycle FZ-X
    NEW DELHI, JUNE 18 (IANS): Two-wheeler major India Yamaha Motor (IYM) on Friday launched its first 'Neo-Retro' motorcycle - FZ-X - availed at a starting price of Rs 116,800 (Ex-Showroom, Delhi). According to the company, the new FZ-X comes with a '2-valve Blue Core FI Engine' which generates 12.4PS of peak power at 7,250 rpm and 13.3Nm of torque at 5,500 rpm. "It is engineered to be the ultimate riding partner across various riding conditions and is powered b
  • Gold climbs Rs 188; silver jumps Rs 173
    New Delhi, June 18 (PTI): Gold in the national capital on Friday rose Rs 188 to Rs 46,460 per 10 gram reflecting recovery in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,272 per 10 gram. Silver also jumped Rs 173 to Rs 67,658 per kilogram from Rs 67,485 per kilogram in the previous trade. In the international market, gold was trading with gains at USD 1,791 per ounce and silver was marginally higher a
  • Hyundai Motor hopes to beef up SUV sales with Alcazar
    Chennai, June 18 (IANS): India's second largest car maker Hyundai Motor India Ltd is hoping to notch up good sales volumes in its sport utility vehicle (SUV) segment with the launch of 6/7 seater Alcazar, said a senior official. Nearly 45 per cent of the company's sales volume is contributed by its SUVs. The SUV sales volume is expected to go up further with the launch of premium SUV 6/7 seater Alcazar, he added. Last fiscal, the company logged a total sales (domestic and
  • S Korea acts against Huawei, Samsung for false equipment records
    Seoul, June 18 (IANS): South Korea's ICT ministry said it has revoked conformity assessments on around 1,700 pieces of communications equipment from nearly 400 companies, including Huawei Technologies and tech giant Samsung Electronics, after they submitted falsified test records. Under South Korea's radio wave law, communications equipment needs to undergo conformity assessments that check their impact on other equipment and the human body, to manufacture, sell or import th
  • Hiked again, petrol nears century mark pan-India
    New Delhi, June 18 (IANS): Fuel prices increased again across the country on Friday adding more misery to common man's woe, as he already grapples with rising food prices amid shrinking income. Petrol prices have reached very close to hitting the century mark all across the country extending the scope of historic high prices that had already made the fuel rate cross the Rs 100 per-litre-mark in certain cities and towns of Maharashtra, Madhya Pradesh, Rajasthan, Telangana, A
  • Maruti Suzuki launches 'Mobility Challenge' for mature startups
    New Delhi, June 18 (IANS): Auto major Maruti Suzuki India on Friday launched the 'Mobility Challenge' to explore new-age technologies and help growth-stage startups scale up their business. Accordingly, the all new unique programme was unveiled in partnership with Hyderabad-based innovation intermediary and business incubator 'T-Hub'. "Through 'Mobility Challenge', Maruti Suzuki India Ltd. (MSIL) is eager to partner with startups, including establishe