Business

  • CAIT seeks technical audit of WhatsApp, Facebookn Instagram
    NEW DELHI, JANUARY 15 (IANS): In continuation of its tirade against WhatsApp for its new privacy policy, the Confederation of All India Traders (CAIT) on Friday sent another communication to Union IT Minister Ravi Shankar Prasad stating that the Facebook-owned instant messaging app had recently issued some media advertisements trying to hold its privacy policy justified which is nothing but a hogwash. CAIT accused WhatsApp, Facebook and it's photo sharing app Instagram guilty in
  • Maruti Suzuki launches online financing platform
    NEW DELHI, JANUARY 15 (IANS): Maruti Suzuki India on Friday announced the launch of its online financing platform -- Smart Finance, for Maruti Suzuki ARENA customers across more than 30 cities. A company statement said that with the launch of Smart Finance, 24 out of 26 steps in the customer vehicle purchase journey have been digitised. "Smart Finance offers customers a 'ONE-STOP-SHOP' solution for the vehicle finance needs. The services include option to choose amon
  • Sensex plunges 700 points, gives up 49,000 mark
    Mumbai, January 15 (IANS): The Indian equity indices witnessed a slump on Friday afternoon with the BSE Sensex losing over 700 points. Sensex is trading below the psychological level of 49,000 points. The decline on the Indian indices came due to profit booking by traders after the recent bull run, analysts said. Heavy selling pressure was witnessed in banking, IT and auto stocks. At 2.19 p.m. Sensex was trading at 48,882.40, lower by 701.76 points or 1.42 per cent from its
  • Rising Chinese demand brings good fortune for Indian steel sector
    New Delhi, January 15 (IANS): Strong demand and prices for steel in China should provide a cushion to regional and Indian steel prices already at lifetime high levels, Motilal Oswal Institutional Equities said in a report on Friday. "China's domestic steel prices remain strong and are at nine-year highs (led by robust overall demand and higher raw material cost locally) which we believe should provide a cushion to regional and Indian steel prices (at lifetime highs),"
  • Give TDS relief to small sellers on e-commerce platforms: IAMAI
    NEW DELHI, JANUARY 14 (IANS): The Internet and Mobile Association of India (IAMAI) on Thursday said that its has appealed to the government to reduce TDS on e-commerce platforms to 0.25 per cent from 1 per cent to give a much-needed relief to small sellers in the Union Budget 2020-21. The uniform TDS on e-commerce transactions is creating major challenges for the small sellers who are conducting business via e-commerce platforms. "Reducing TDS will help achieve the tax trail
  • Twitter in splits as Musk confirms Tesla's entry in India
    NEW DELHI, JANUARY 14 (IANS): As Elon Musk confirmed the news of electric car giant Tesla's entry in India, Twitter on Thursday erupted in jokes and memes, mostly focused on the condition of Indian roads. Breaking his silence after the news broke that Tesla has finally entered India by registering it as a company in Bengaluru, Musk said he is on the way to fulfil his promise to let electric cars run on the roads of the country. "I think Tesla is here to test their FSD Be
  • Petrol, diesel rise 25p/ltr on second consecutive day, reach new highs
    NEW DELHI, JANUARY 14 (IANS): Petrol and diesel prices rose sharply by 25 paisa per litre on Thursday, second consecutive day of similar rise, after oil marketing companies decided to break the pause in price revision in wake of a sudden spike in global oil prices. Accordingly, in the national capital, petrol was sold at the new record high level of Rs 84.70 from previous days Rs 84.45 a litre while diesel prices increased to Rs 74.88 per litre as against Rs 74.64 a litre a day earl
  • Google purges hundreds of fake personal loan apps in India
    NEW DELHI, JANUARY 14 (IANS): Alarmed at the growing harmful financial services products on its Play Store in India, Google on Thursday said it has reviewed hundreds of personal loan apps in India and pulled down several of them found to be violating its app policies. The company said it has asked the developers of the remaining identified apps to demonstrate that they comply with applicable local laws and regulations in India. "We have reviewed hundreds of personal loan app
  • Consumer demand of gold may improve in 2021 on economic recovery of EMs
    NEW DELHI, JANUARY 14 (IANS): The year 2021 is likely to add to the shine of the gold as consumer demand which has largely been subdued amid the pandemic may rise on the back of economic recovery of the emerging markets, said a report by the World Gold Council (WGC). The 'Gold Outlook 2021' said that the Indian gold market also appears to be on a stronger footing. Initial data from the Dhanteras celebrations in November suggest that while jewellery demand was still below ave
  • Asian shares mixed after lackluster day on Wall Street
    Beijing, January 14 (AP): Shares were mostly higher in Asia on Thursday after a lackluster day on Wall Street, where major indexes spent the day drifting up and down near their record highs. Benchmarks rose in Hong Kong, Tokyo and Sydney but fell in Shanghai. U.S. futures were trading slightly higher after the U.S. House of Representatives voted to impeach President Donald Trump on the charge of incitement of insurrection. Democrats and even some Republicans concluded that Tru
  • Delhivery expands India footprint, to create over 500 jobs
    NEW DELHI, JANUARY 13 (IANS): Supply chain services provider Delhivery on Wednesday announced to expand its India footprint by opening two new tech offices in Bengaluru and Ahmedabad, alongside creating over 500 new jobs in the country. It currently has more than 350 employees and centres in Gurgaon, Goa, and Hyderabad (in India), and Seattle in the US. The new recruitments will happen across technology, product, and data science functions by the next fiscal, the company said in
  • 'Amazon Academy' launched to aid students with JEE preparations
    NEW DELHI, JANUARY 13 (IANS): Amazon India on Wednesday announced launch of 'Amazon Academy' to help students preparing for the Joint Entrance Examination (JEE) for entrance to engineering colleges. In a statement, Amazon India said that the online preparation offering will equip students with in-depth knowledge and practice routines required for the JEE, through curated learning material, live lectures and comprehensive assessments in Math, Physics and Chemistry. The bet
  • Hike in petrol, diesel rates after global oil price jump
    NEW DELHI, JANUARY 13 (IANS): Petrol and diesel prices rose sharply by 25 paise per litre on Wednesday after oil marketing companies decided to break the momentary pause in the wake of a sudden spike in the global oil prices. Accordingly, in the national capital, petrol was sold at the new record high level of Rs 84.45 from the previous days of Rs 84.20 a litre while diesel price increased to Rs 74.63 per litre as against Rs 74.38 a litre earlier. Across the country as well
  • Hyundai teases 1st all electric car IONIQ 5, arrives in Feb
    SEOUL, JANUARY 13 (IANS): Hyundai Motor on Wednesday released a teaser for the IONIQ 5, the first all-electric model in its IONIQ dedicated BEV lineup brand that would debut in a virtual world premiere event in February. IONIQ 5 will be the first vehicle mated with Hyundai Motor Group's Electric-Global Modular Platform (E-GMP), an innovative system made exclusively for next-generation battery electric vehicles. The IONIQ 5 midsize crossover vehicle comes with a battery that e
  • Tesla finally enters India, first stop is Bengaluru
    New Delhi, January 12 (IANS): Ending years of wait and speculation, Tesla CEO Elon Musk has finally entered India by registering Tesla as a company in Bengaluru. According to the details available on the Registrar of Companies website, Tesla India Motors and Energy Private Limited has been incorporated and the registered address is in Lavelle Road, Bengaluru. "Tesla registered its Indian subsidiary with the Registrar of Companies (RoC) in Bengaluru on January 8, with Rs 15 l
  • DGGI issues show-cause notice to Amazon over 'wrong' ITC claim
    NEW DELHI, JANUARY 12 (IANS): The Director General of GST Intelligence (DGGI) has issued a show cause notice to e-commerce major Amazon India over alleged wrong claim of input tax credit (ITC). The GST intelligence arm has raise a demand of Rs 175 crore, sources said. An investigation by DGGI has found calculation errors made by the e-commerce company. According to people in the know, Amazon had paid higher goods and services tax (GST), for which it should have claimed refund,
  • India's industrial production contracts 1.9% in November
    NEW DELHI, JANUARY 12 (IANS): India's industrial production activity decelerated by 1.9 per cent in November 2020 on a year-on-year (YoY) basis, according to data from the Ministry of Statistics and Programme Implementation. The factory output in the country had grown at 3.6 per cent in October. The overall decline in industrial production came on the back of a shrink in mining and manufacturing activity. Sector-wise mining and manufacturing output witnessed de-growth of 7.3
  • Policy update doesn't affect privacy of messages;includes change related to messaging a biz:WhatsApp
    New Delhi, January 12 (PTI): Facing flak over its new privacy policy and terms of service, WhatsApp on Tuesday sought to assuage users' concerns saying its latest policy update does not affect the privacy of messages on the platform.  In a blogpost, Facebook-owned WhatsApp emphasised that it does not share users' contact lists or data of groups with Facebook for advertisement purposes. Neither WhatsApp nor Facebook can read messages or hear calls between users on Wha
  • Permanent enforcement of fare bands may be dampener on Aviation industry
    NEW DELHI, JANUARY 12 (IANS): The permanent enforcement of fare bands may prove to be a huge dampener on the Aviation industry as a whole, weakening sentiment for the regulated market, Motilal Oswal Financial Services said on Tuesday. In its report of the Indian aviation sector, the brokerage said that though temporarily the regulated fare market may not be impacted as airline fares in CY20 (calendar year) had a lower floor and cap than the one imposed by ministry of civil aviation
  • Retail inflation down to 4.59% in Dec 2020
    NEW DELHI, JANUARY 12 (IANS): Retail inflation declined to 4.59 per cent in December 2020 compared with 6.93 per cent in November last, government data showed on Tuesday. The data released by the Ministry of Statistics and Programme Implementation showed that the easing of the Consumer Price Index (CPI) came on the back of a decline in food prices. The Consumer Food Price Index (CFPI) for last month came in at 3.41 per cent, down from 9.50 per cent in November 2020. The provis