Business

  • India sees record 36.9mn smartphone shipments in Q2
    New Delhi, August 13 (IANS): India smartphone market saw its highest-ever shipment of 36.9 million in the second quarter (Q2) of 2019 -- with 9.9 per cent year-on-year (YoY) and 14.8 per cent quarter-on-quarter (QoQ) growth, a new report said on Tuesday.   According to the International Data Corporation's (IDC) "Asia/Pacific Quarterly Mobile Phone Tracker" report, Chinese handset maker Xiaomi saw its shipment volume grow by 4.8 per cent (YoY) in Q2 while Samsung registered a
  • Canon refreshes its flagship compact G series in India
    New Delhi, August 13 (IANS): Canon India on Tuesday expanded its flagship compact G series with the PowerShot G5 X Mark II and the PowerShot G7 X Mark III for Rs 64,995 and Rs 52,995, respectively.   "Our iconic PowerShot G series offers powerful imagery and advanced technology in a premium, yet compact form factor. We are delighted to announce the new entrants to the G series line-up, equipped with new user-friendly functionalities.   "The new cameras offer large
  • Bugs found in backend systems of top 5,000 free Android apps
    New York, August 13 (IANS): Cybersecurity researchers have identified more than 1,600 vulnerabilities in the support ecosystem behind the top 5,000 free apps available in the Google Play Store.   While the researchers from Georgia Institute of Technology and The Ohio State University studied only applications in the Google Play Store, applications designed for iOS may share the same backend systems.   The vulnerabilities were found in the backend systems that feed
  • India's crude oil imports are lacklustre, joining coal, LNG
    An employee demonstrates a sample of crude oil in the Yarakta Oil Field, owned by Irkutsk Oil Company (INK), in Irkutsk Region, Russia in this picture illustration taken on March 11, 2019. (REUTERS File Photo)     LAUNCESTON, August 12 (Reuters): India’s imports of crude oil have stalled in recent months, but the malaise in the country’s energy sector is deeper, with both coal and liquefied natural gas (LNG) also soft.   India, Asia’s second-biggest cr
  • First Hyundai Grand i10 NIOS rolls out of Chennai plant
    A worker demonstrates the usage of electrical vehicle (EV) charging cable at the flagging off ceremony of the Hyundai Motor India Ltd's electric sports utility vehicle (SUV) KONA Electric at the Tamil Nadu secretariat, in Chennai on July 24, 2019. (IANS File Photo)   Chennai, August 12 (IANS): Car maker Hyundai Motor India Ltd on Monday rolled out its first Grand i10 NIOS at its factory here, the company said. "This is a proud moment for us at Hyundai, with
  • Jio GigaFiber's commercial services start Sep 5
    Reliance Industries (RIL) Chairman Mukesh Ambani with his mother Kokilaben Ambani and wife Nita Ambani at RIL's 42nd Annual General Meeting in Mumbai on August 12. (IANS Photo)     Mumbai, August 12 (IANS): Reliance Industries (RIL) Chairman Mukesh Ambani on Monday announced the launch of Jio GigaFiber and said that the services would be available commercially from September 5. Speaking to shareholders at the 42nd Annual General Meeting (AGM), Ambani said
  • Tesla electric car catches fire after hitting tow truck in Moscow
    A Tesla car is seen in Santa Monica, California, United States on October 23, 2018. (REUTERS File Photo)     MOSCOW, August 11 (Reuters): A Tesla Model 3 electric car caught fire after crashing into a parked tow truck on a Moscow motorway late on Saturday, with the Tesla driver saying he had failed to see the vehicle with which he collided.   Asked in a video published on REN TV website if he was using an Autopilot self-driving system, driver Ale
  • BSNL to chase dues from enterprise clients, hopes to recover bulk of Rs 3,000 crore
    New Delhi, August 11 (PTI): Battling severe liquidity crunch, BSNL plans to aggressively chase outstanding dues from its enterprise clients and is hoping to recover the bulk of over Rs 3,000 crore receivables in the next two-three months, its chairman said. The move comes at a time when Bharat Sanchar Nigam Ltd (BSNL) is facing mounting pressure on its financials, and it even delayed payment of employee salaries for the second time this year. BSNL on August 5 had released July salaries
  • GIA to have dedicated terminal for private jets by October
    New Delhi, August 11 (IANS): The national capital's Indira Gandhi International Airport will soon have a fixed-base operator (FBO) terminal for private jet and charter flight services by October 2019.   These types of facilities aid in the expansion of general aviation services at busy airports around the world as they provide designated terminal for users of private jets and charter flights.   Besides, the company mandated to operate and manage the IGIA -- G
  • FPIs remain in sell-off mode, pull out Rs 9,197 crore in August so far
    New Delhi, August 11 (PTI): Continuing with their selling spree, foreign investors pulled out a net amount of ₹9,197 crore in just seven trading sessions in August due to unconducive domestic and global factors.   However, analysts said the trend may reverse if the government addresses the tax concerns of overseas investors.   According to latest depositories data, foreign portfolio investors (FPIs) withdrew a net amount of ₹11,134.60 from equities while
  • Forget bananas, 2 boiled eggs can cost you Rs 1,700
    New Delhi, August  11 (IANS):  If you thought two bananas at Chandigarh's JW Marriott Hotel for Rs 442 was extremely exorbitant, think again.   Two boiled eggs at high-end Four Seasons Hotel in Mumbai has cost a Twitter user Rs 1,700.   After actor Rahul Bose's banana controversy that resulted in a Rs 25,000 fine on JW Marriott hotel by the Excise and Taxation Department of Chandigarh, Twitter user Kartik Dhar has posted a bill with the caption: "2 eggs
  • Contacts on iPhones vulnerable to hack attack: Report
    San Francisco, August 11 (IANS): Apple has never shied away from boasting about how secure its systems are, but researchers have found that contacts saved on iPhones are vulnerable to an SQLite hack attack which could infect the devices with malware.   SQLite - the most widespread database engine in the world - is available in every operating system (OS), desktop and mobile phone. Windows 10, macOS, iOS, Chrome, Safari, Firefox and Android are popular users of SQLite. &n
  • Centre rolls out FAQs over Legacy Dispute Resolution scheme
    New Delhi, August 11 (IANS):  Building a roadmap for the economy, the Centre has taken a firm step to shed off the excess baggage of litigations, a vital factor slowing down growth.   The Centre has rolled out a set of 43 frequently asked questions (FAQs) connected with the 'Sabka Vishwas Scheme' (Legacy Dispute Resolution), 2019, a step largely towards simplifying a scheme directly linked to creating a favourable atmosphere enabling ease of doing business.  
  • Slowdown puts auto sector in reverse gear
    Bengaluru, August 11 (IANS): The Indian automobile industry is in reverse gear due to economic slowdown with sales plunging, inventories piling up, car makers slashing production and cutting jobs in thousands, an industry official said on Saturday.   "The worst fears of the slowdown impacting the auto sector is evident from the first quarter results (April-June) of this fiscal (2019-20) from car makers, their ancillary units, component suppliers, dealer sales and job losses,
  • Auto stress: M&M to suspend production for 8-14 days
    Mumbai, August 9 (IANS): The slowdown in the automobile sector and fall in sales seems to be taking a grave turn with auto major Mahindra and Mahindra (M&M) on Friday announcing a production shutdown of 8-14 days in its various plants during the ongoing July-September quarter. According to the company, the decision has been taken to align its production with the sales requirements. "The company in the auto sector, and Mahindra Vehicle Manufacturers Limited (MVML), a whol
  • Practo, RBL Bank launch India's first health-focused credit card
    New Delhi, August 9 (IANS): Private sector RBL Bank and digital healthcare platform Practo have partnered to launch an industry first co-branded health credit card. This credit card is powered by Mastercard and is available on both Practo and RBL mobile apps and websites. It offers benefits like unlimited and round-the-clock online consultations with experienced and qualified doctors, one free full body health check-up, while users can use the card to earn points that can be
  • SpiceJet Q1 net profit up 788% at Rs 261.7 cr
    New Delhi, August 9 (IANS): Benefiting from Jet Airways collapse in April, low-cost carrier SpiceJet posted a record profit of Rs 261.7 crore in the quarter ending June, 2019 as against a net loss of Rs 38.1 crore in the corresponding period last year. The airline reported total revenue of Rs 3,145.3 crore during April-June period as against Rs 2,253.3 crore in the same period in FY19, registering a growth of 39.5 per cent. During the three-month period, the airline added 32
  • FPI: Nomura, Morgan Stanley, Citi, Fidelity may meet FM
    New Delhi, August 9 (IANS): Leading foreign investors, including Morgan Stanley, Nomura, Templeton, Fidelity, GIC (Singapore), CPDQ are likely to meet Finance Minister Nirmala Sitaraman, Finance Secretary Rajeev Kumar and DEA Secretary Atanu Chakraborty on Friday afternoon as the government reaches out to know their concerns over the surcharge on FPIs who are operating as trusts or association of persons (AoP) without being registered as companies. The FPIs are likely to raise
  • Equity indices open in green; Sensex up 260
    Mumbai, August 9 (IANS): The key Indian equity indices opened on a positive note on Friday with the BSE Sensex trading over 260 points. The gains were led by healthy buying in banking and auto stocks. Rise in the global markets also supported the global sentiments. At 9.29 a.m., the Sensex traded at 37,588.33, higher by 260.97 points or 0.70 per cent from the previous close of 37,327.36 points. It had opened at 37,521.30 and touched an intra-day high of 37,604.33 and a lo
  • US stocks close higher
    New York, August 9 (IANS): US stocks closed higher as concerns for global economic slowdown eased after global bond yields stabilised. The Dow Jones Industrial Average was up 371.12 points, or 1.43 per cent, to 26,378.19 on Thursday. The S&P 500 rose 54.11 points, or 1.88 per cent, to 2,938.09. The Nasdaq Composite Index rallied 176.33 points, or 2.24 per cent, to 8,039.16, Xinhua reported. The US Benchmark 10-year Treasury note yield traded at around 1.72 per cent on Th