Business

  • SJVNL gets another mega hydropower project in Nepal
    Shimla, January 30 (IANS): Public sector Satluj Jal Vidyut Nigam Ltd (SJVNL) on Saturday said it was awarded another mega hydropower project in Nepal through international bidding, including Chinese companies. SJVNL Chairman and Managing Director Nand Lal Sharma said that the Nepalese government has allotted 679 MW Lower Arun Hydro Electric Project located in the Sankhuwasabha and Bhojpur districts. It will generate 3,561 million units per annum. The Investment Board of Nepal at
  • Hike in fuel prices hit pause for 3rd day
    New Delhi, January 30 (IANS): Pause on price hike of petrol and diesel continued on Saturday for the third day in a row after rising consecutively on Tuesday and Wednesday increasing pump prices for both auto fuels by 60 paisa per litre in Delhi. With price on hold, petrol continued to be available at new record high of Rs 86.30 a litre in Delhi while diesel was at Rs 76.48 per litre. Across the country as well the fuel prices remained at Wednesday's level. In Mumbai, petrol
  • Tata Motors launches limited-edition Tiago
    Mumbai, January 30 (IANS): Automobile manufacturer Tata Motors on Saturday launched limited edition of its hatchback Tiago at Rs 5.79 lakh (ex-showroom Delhi). As per the company, the launch commemorates the first anniversary of 'Tiago Refresh' and its success in the hatchback market. Besides, the company informed that 'Tiago Limited Edition' will be available in manual transmission. "Since its launch in 2016, the Tiago has been very successful in its segm
  • Thanks to lockdown, India's FY22 GDP to grow over 11%: EcoSurvey
    New Delhi, January 29 (IANS): The Indian economy is witnessing a 'V' shaped recovery due to a timely and stringent lockdown, and is expected to grow at over 11 per cent in the next fiscal. According to the Economic Survey 2020-21, which was presented in the Parliament on Friday by Union Finance Minister Nirmala Sitharaman, in contrast, the current fiscal will sustain the Covid-19 induced economic damage which is estimated to contract the GDP by 7.7 per cent. The survey do
  • IRCTC to restart 2 Tejas Express trains from Feb 14
    New Delhi, January 29 (IANS): The two Tejas Express trains -- New Delhi-Lucknow and the Mumbai-Ahmedabad -- operated by the Indian Railway Catering and Tourism Corporation (IRCTC) will again run from February 14, almost 10 months after suspending the service in the wake of the Covid pandemic. The IRCTC, in a statement, said that it is all set to restart the operation of its fleet of the first corporate Train, Tejas Express, to cater to the growing passenger demand. "Both the
  • Apple rules festive quarter as global shipments grow in Q4: IDC
    New Delhi, January 28 (IANS): Vendors shipped a total of 385.9 million devices during the festive quarter as the worldwide smartphone market continued to improve, returning to positive 4.3 per cent (on-year) growth, an IDC report said on Thursday. Apple delivered a phenomenal performance in the December quarter, returning to the top position with 90.1 million devices shipped, driven by the success of the iPhone 12 series, according to preliminary data from the IDC's ‘World
  • Gold demand drops to 11-year-low in 2020 on weak Q4
    New Delhi, January 28 (IANS): Global demand for gold plummeted 14 per cent in 2020 to an 11-year low of 3,759.6 tonne, showed the the World Gold Council's latest 'Gold Demand Trends' report. It was the first time since 2009 that gold demand plunged below the 4,000 tonne mark. The decline in annual demand is largely attributed to the 28 per cent year-on-year (YoY) fall to 783.4 tonne in the fourth quarter of 2020, making it the weakest quarter since the midst of the gl
  • Yes Bank founder Rana Kapoor arrested by ED in HDIL group case
    Mumbai, January 27 (IANS): The Enforcement Directorate (ED) has arrested Yes Bank's former Chairman Rana Kapoor in an alleged money-laundering case pertaining to the probe in a HDIL group company, official sources said on Wednesday. Currently in jail in the DHFL case, Kapoor - who has been sent to ED custody till January 30 - had allegedly sanctioned a Rs 200 crore loan to Mack Star Marketing Pvt Ltd, a group company of the HDIL promoters Rakesh Wadhawan and Sarang Wadhawan.
  • Grant of Rs 12,351 cr released for Rural Local Bodies
    New Delhi, January 27 (IANS): The Union Finance Ministry has released Rs 12,351.5 crore to 18 states for providing grants to the Rural Local Bodies (RLBs). This amount is the second instalment of basic grants released in the financial year 2020-21. The grant has been released to 18 states who have provided the Utilisation Certificate for the first instalment and on the recommendation of the Ministry of Panchayati Raj. The grants to RLBs are released, as per the recommendations of
  • Petrol, diesel prices on a roll, rise again by 25 paise/litre
    New Delhi, January 27 (IANS): Petrol and diesel prices rose again on Wednesday with oil marketing companies deciding to increase the prices of the two auto fuels by 25 paisa per litre for the second consecutive day. With Wednesday's price rise, petrol is available at new record high of Rs 86.30 a litre in Delhi while diesel is available in the city at Rs 76.48 a litre. Across the country, the fuel prices increased sharply but its rise at retail level varied state-to-state dep
  • IFIICC eyes strengthening business ties with India, UAE, Israel
    Dubai, January 27 (IANS): The International Federation of the Indo-Israel Chambers of Commerce (IFIICC) is planning to boost India's strong historical ties with the UAE and Israel as it expects knowledge sharing, strategic partnerships and cultural bonds will help establish business relationships among the three countries. The IFIICC was launched in Dubai last month on the back of the Abraham Accords, the recent peace agreement between the UAE and Israel, Gulf News reported.
  • IMF projects Indian economy to be fastest-growing next financial year at 11.5%
    New York, January 26 (IANS): The International Monetary Fund (IMF) projects India's economy to bounce back by 11.5 per cent in the next financial year, making it the fastest-growing major economy, and attributed it to the effect of easing of lockdown measures last year. The World Economic Outlook (WEO) Update released in Washington last week increased the forecast by 2.7 per cent from its earlier forecast made in October last year, "reflecting carryover from a stronger-than
  • UN expects India's economy to recover by 7.3% this calendar year
    United Nations, January 26 (IANS): The United Nations sees the Indian economy recovering by 7.3 per cent this calendar year after a coronavirus-driven fall of 9.6 per cent last year. The UN's World Economic Situation and Prospects 2021 report released on Monday said that "despite drastic fiscal and monetary stimulus" India's gross domestic product (GDP) fell because of lockdowns and other containment efforts that "slashed domestic consumption without halting t
  • Budget: Tough balancing act for govt, says Report
    New Delhi, January 26 (IANS): The Budget 2021-22 may see the trade-off to become more acute between stimulating growth, and maintaining fiscal rectitude, Kotak Institutional Equities said in a pre-budget note. The Covid-19 pandemic disruptions has pushed down the country GDP growth into the negative zone in two successive quarters and projections are that GDP may contract over 7 per cent in FY21. This contraction has come on the the back of increased spending by the government on
  • GDP growth for FY21 seen at minus 8%: FICCI Survey
    New Delhi, January 26 (IANS): India's GDP is likely to contract by 8 per cent in the current financial year, according to the FICCI's Economic Outlook Survey. In a statement, FICCI said that the median growth forecast for agriculture and allied activities has been put at 3.5 per cent for 2020-21. "Agriculture sector has exhibited significant resilience in the face of the pandemic. Higher rabi acreage, good monsoons, higher reservoir levels and strong growth in tracto
  • Flaming petrol prices to fuel CNG vehicles adoption: Report
    New Delhi, January 26 (IANS): Elevated prices of petrol due to a steep increase in taxes in the recent past is set to increase the adoption of compressed natural gas (CNG)-driven vehicles, Crisil Research said. Accordingly, the last time petrol prices had crossed the Rs 80 per litre mark was in October 2018, when Brent crude had surged to $80.5 per barrel. In contrast, the price has now touched an all-time high of Rs 85.2 per litre in New Delhi even though Brent has slid to $55 p
  • Centre set to permanently ban 59 Chinese apps
    NEW DELHI, JANUARY 25 (IANS): The Union Government has decided permanently ban 59 Chinese mobile applications including TikTok. The development comes several months after the government had first banned Chinese apps temporarily in last June. The government had sought responses from the companies on the show cause notices, but sources said that it is not satisfied with their responses. According to people in the know, the Ministry of Electronics and Information Technology (Meit
  • Kia Motors India sells 1 lakh units since July
    NEW DELHI, JANUARY 25 (IANS0: Automobile manufacturer Kia Motors India has sold 1 lakh units since July 2020 in the domestic wholesale market. Accordingly, the maker of Seltos, Sonet and Carnival, has successfully dispatched 200,000 Kia vehicles to its dealerships across India within seventeen months of sales operations in the country. The company said the top-end -- above GTX variants -- for the Seltos, Sonet and the Limousine variant for the Carnival, have accounted for nearly
  • Google workers form global alliance to fight workplace issues
    SAN FRANCISCO, JANUARY 25 (IANS): In a bid to hold Alphabet accountable on issues like inequality, gender discrimination and workplace harassment, Google workers across the world have formed a global union alliance called Alpha Global, The Verge reported on Monday. Alpha Global is affiliated with the UNI Global Union, a federation of labour unions representing 20 million people worldwide, including workers at ecomemrce giant Amazon. "We know that organizing for justice at a
  • OnePlus Buds Z limited edition launched in India
    NEW DELHI, JANUARY 25 (IANS): OnePlus on Monday launched a limited edition of its Buds Z in collaboration with Los Angeles-based artist and designer Steven Harrington, for Rs 3,699 in India. "For our users who are looking for the right combination of great sound quality and aesthetic design, the OnePlus Buds Z Steven Harrington Edition will prove to be a valuable addition,'' said Pete Lau, Founder, and CEO, OnePlus in a statement. According to the company, the new On