Business

  • OnePlus phone batteries being depleted by WhatsApp: Report
    Beijing, November 10 (IANS): OnePlus smartphones running Android 9 and 10 operating system (OS) have reported high battery drain, which has been likely because of WhatsApp, the media has reported.   The battery depletion appears to be caused by the messaging app's version 2.19.308 and has been affected users even with limited usage of WhatsApp.   OnePlus users are reporting on Reddit, OnePlus forums, and even through the Play Store (Google Play Store) that WhatsAp
  • No NEFT charges for savings A/C holders from Jan 2020: RBI
    New Delhi, November 9 (IANS): The Reserve Bank of India (RBI) has directed banks not to charge savings account holders for NEFT with effect from January 2020.   The National Electronic Funds Transfer (NEFT) is an electronic funds transfer system maintained by the RBI, to transfer funds from one bank account to another. Money transfer can be made by an individual or company to an individual or company's bank account with any bank that is a member of the NEFT scheme, according
  • India's largest carmaker cuts production for 8th straight month
    Workers assemble a car at a Maruti Suzuki plant in Manesar in Haryana, March 23, 2010. (Reuters File Photo)   Mumbai, November 9 (IANS): Lack of demand for passenger vehicles in the country has forced India's largest manufacturer, Maruti Suzuki to cut its production for the 8th consecutive month. The company's total vehicle production last month stood at 1,19,337 units against 1,50,497 in October last year.   The production of passenger vehicles was down 117,383 u
  • When ex-Cisco Warrior asked to scrap $100-mn worth enterprise
    Bengaluru, November 9 (IANS): The toughest challenge that Indian-born Cisco's former Chief Technology Officer (CTO) Padmasree Warrior faced was to tell a giant corporation chief executive to scrap an enterprise in which $100-million (Rs 713 crore) was to be invested.   "My job was to tell the CEO to abandon an enterprise in which $100 million was to be invested to foray into disruptive technology. It was one of my hardest decisions," recalled Warrior at a women's technology
  • Over 60k applies for VRS in BSNL/MTNL in 4 days: Telecom Secy
    New Delhi, November 9 (IANS): Over 60,000 employees have applied for Voluntary Retirement Scheme (VRS) in BSNL and MTNL, telecom secretary Anshu Prakash said on Friday.   Out of this, a little over 57,000 employees are from BSNL and around 3,000 from MTNL, Prakash said on the sidelines of a Department of Telecom (DoT) event.   He said the VRS is very attractively designed and has received "unprecedented" response from the employees. The government's overall target
  • Musk looking into launching a 'drive-thru mode' on Tesla
    San Francisco, November 9 (IANS): Multi-billionaire tech mogul Elon Musk has confirmed that he is looking into launching a "drive-thru mode" on Tesla.   Musk's announcement comes after someone complained to him on Twitter about the noise the car makes while detecting hazards in the drive-thru lane.   "Can we get a drive thru mode please? It beeps like crazy every time I'm trying to get my chicken sandwich (; thank you," the customer wrote in a Twitter post recentl
  • Cabinet may take up BPCL privatisation this month
    New Delhi, November 9 (IANS): Union Cabinet is likely to take up the strategic disinvestment of the entire stake of government of India along with transfer of management control in oil marketing PSU - BPCL this month to push ahead the exercise, sources said.   Cabinet Committee on Economic Affairs could take up the BPCL privatisation issue this month, said sources.   Meanwhile, Department of disinvestment or DIPAM has extended the date of appointment of legal advi
  • India's forex reserves rise by $3.51 bn to $446 bn
    Mumbai, November 9 (IANS): India's foreign exchange reserves rose by $3.51 billion during the week ended November 1, official data showed on Friday.   According to the Reserve Bank of India's weekly statistical supplement, the overall forex reserves increased to $446.09 billion from $442.58 billion reported for the week ended October 25.   India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and India's reser
  • Billionaires' wealth falls for first time since 2015
    Visitors are seen during the Monaco Yacht show, one of the most prestigious pleasure boat show in the world, highlighting hundreds of yachts for the luxury yachting industry and welcomes 580 leading companies, in the port of Monaco on September 27, 2017. (REUTERS File Photo)     ZURICH, November 8 (Reuters): The world's richest people became a little less well off last year, according to a report by UBS and PwC, as geopolitical turmoil and volatile equity market
  • Moody's cuts India outlook to 'negative', Govt counters
    New Delhi, November 8 (IANS): Global rating agency Moody's Investors Service on Friday cut India's outlook from 'stable' to 'negative' reflecting increasing risks to the country's economic growth and the government's failure in addressing long-standing economic and institutional weaknesses.   The government however, said that India continues to be among the fastest growing major economies in the world, and its relative standing remained unaffected. BSE Sensex was down 168.17
  • Bharat Forge says past quarter toughest in decade
    Mumbai, November 8 (IANS): For the Pune-based manufacturing major Bharat Forge, the business environment in the past quarter has been the "toughest period witnessed by the company in the decade".   The company which produces a range of components for the automotive and non-automotive sector said that sluggish macroeconomic environment, weak demand across sectors and introduction of BS VI emission standards led to the decline in demand.   Bharat Forge scrips on the
  • Domestic passenger traffic slips to 1.6% in Sept: IATA
    New Delhi, November 8 (IANS): Weak economic activity, along with subdued private consumption eased India's year-on-year domestic air passenger traffic growth rate to 1.6 per cent in September from 4.5 per cent observed in August.   According to the International Air Transport Association (IATA), India's domestic air passenger volume -- measured in revenue passenger kilometres (RPKs) -- was the lowest among the major aviation markets such as Australia, Brazil, China, Japan, R
  • Economic slowdown biggest negative impact of DeMon: Survey
    New Delhi, November 8 (IANS): A survey on the impact of demonetisation, done three years after it was done, has revealed its impact -- 32 per cent said it caused loss of earnings for many unorganised sector workers, 2 per cent said it was a sizable migration of labour to villages and lowered rural income while 33 per cent said the biggest negative impact of demonetisation was the economic slowdown.   The survey done by a social media firm 'LocalCircles', was released on Frid
  • Voda, Yes Bank out of MSCI; SBI Life, DLF make inroads
    Mumbai, November 8 (IANS): Eight stocks, including Berger Paints, DLF, SBI Life Insurance have been added to the recent rejig of the Morgan Stanley Capital International (MSCI) index, while six struggling scrips of Yes Bank, India Bulls Housing Finance, Bharat Heavy Electricals Ltd (BHEL) among others have been removed.   The semi-annual rebalancing of the global index was announced late on Thursday and the changes to the MSCI India Index will come into effect after November
  • Samsung aims to increase sales of foldables in 2020
    Seoul, November 8 (IANS): Samsung CEO DJ Koh confirmed that the company has aimed to sell a lot more foldable devices in 2020.   Speaking at the annual Samsung AI forum in here, Koh said: "We plan to significantly increase sales of the Galaxy Fold next year. Consumers will witness a large number of foldable smartphones next year."   Koh however, did not reveal an exact figure but a rumour from a few weeks ago suggests that the company has planned to sell upwa
  • Mercedes-Benz launches Rs 1.10 cr luxury MPV in India
    Chennai, November 7 (IANS): The sales trend for luxury car maker Mercedes-Benz India is positive in this segment, and from second half of the next calendar year, the turbulence caused by migration from BS IV to BS VI emission norms would settle down, a top company official said on Thursday. The comments were made by Mercedes-Benz India Managing Director and CEO Martin Schwenk, who was here to launch the comnpany's Rs 1.10 crore luxury multi-purpose vehicle (MPV) V-Class Eli
  • India not planning to help banks rescue shadow lender DHFL - sources
    MUMBAI/NEW DELHI, November 7 (Reuters): India’s government has no plans to participate in the rescue of Dewan Housing Finance Corporation Ltd, according to two sources involved in talks between bankers and officials over how to restructure the shadow bank’s near 1-trillion-rupee ($14.08 billion) debt.   A consortium - led by Union Bank and State Bank of India - was set up to restructure DHFL’s debt a month after it defaulted in June.   But having struggled t
  • IndiGo signs one-way codeshare agreement with Qatar Airways
    NEW DELHI, November 7 (Reuters): Top Indian airline IndiGo said on Thursday it signed a one-way codeshare agreement with Qatar Airways, letting the Middle Eastern airline get more access to the fast-growing Indian market.   India has not increased the capacity rights available to Qatari carriers since 2009, so the deal will help Qatar Airways bypass restrictions on adding more flights by funnelling passengers onto the low-cost carrier. A codeshare allows an airline to sell t
  • Amnesty scheme to deploy 40% black money in Elephant Bond
    New Delhi, November 7 (IANS): The High Level Advisory Group (HLAG) set up by the Minister of Commerce has recommended Elephant Bond, an amnesty scheme to bring black money back in India.   Under this proposed scheme, unaccounted wealth holders can disclose their assets by paying minimum tax.   Under the scheme, they have to invest 40 per cent of such wealth in long-term infrastructure bonds called as Elephant Bonds. The proceeds from issuance of such bonds will be
  • FM takes stock of economic situation at FSDC meet
    New Delhi, November 7 (IANS): Finance Minister Nirmala Sitharaman on Thursday reviewed the current state of the economy at the meeting of the Financial Stability and Development Council (FSDC).   FSDC is a body of financial regulators.   There was no statement from the government on what was discussed precisely, however, Finance secretary Rajeev Kumar said the entire financial system and other issues came up during the meeting. He did not specify the details but s