Business

  • Fuel prices rise again across the country; petrol costs Rs 102/ltr in Mumbai
    New Delhi, June 11 (IANS): The common man continues to face the heat from rising fuel prices as oil marketing companies once again decided to pass on the rise in global oil rates to consumers on Friday. Accordingly, retail price of petrol and diesel got dearer by 29 paisa per litre and 28 paisa per litre to touch new high of Rs 95.85 and Rs 86.75 per litre respectively in Delhi. In the city of Mumbai, where petrol prices crossed Rs 100 mark for the first time ever on May 29,
  • Nvidia to acquire autonomous vehicles' mapping startup DeepMap
    San Francisco, June 11 (IANS): Chip-maker Nvidia is acquiring DeepMap, a startup dedicated to building high-definition maps for autonomous vehicles (AV), for an undisclosed sum. DeepMap was founded five years ago by Wu and Mark Wheeler, veterans of Google, Apple and Baidu, among other companies. The US-based company has developed a high-definition mapping solution that has already been validated by the AV industry with a wide array of potential customers around the world, Nv
  • Apple hires ex-BMW exec Kranz for its electric car project
    San Francisco, June 11 (IANS): Apple has roped in a former BMW executive and the recently departed CEO and co-founder of EV startup Canoo, Ulrich Kranz, for its electric car project. Kranz will reportedly work on the Silicon Valley behemoth's electric car under Doug Field, the former Tesla executive who runs the day-to-day operations of the project, which is codenamed "Project Titan". According to The Verge, Kranz was one of the executives who helped launch BMW
  • Redmi Note 10 series clocks over Rs 3,000 cr in sales in India
    New Delhi, June 10 (IANS): Redmi India, a sub-brand of Mi India, on Thursday said it has sold 20 lakh units of Redmi Note 10 Series, clocking more than Rs 3,000 crore in sales in the country which is an all-time record for the company. The company achieved this feat across all platforms ever since the launch of Redmi Note 10 Series. Launched in March this year, Redmi Note 10 Pro Max, Redmi Note 10 Pro, Redmi Note 10S and Redmi Note 10 offer a premium and enriching experience to t
  • Hisense to set up TV manufacturing unit in India
    New Delhi, June 10 (IANS): Consumer electronics and appliance manufacturer Hisense on Thursday announced to set up a manufacturing plant in India and expand its product portfolio with new launches this year. The company said that it will set up a local manufacturing plant with a capacity to produce two million TVs within the next two years. "Hisense entered the Indian market last year and got a phenomenal response from the consumers. To meet the growing demand for our televi
  • Fuel price hikes press momentary pause
    New Delhi, June 10 (IANS): Oil marketing companies (OMC) kept petrol and diesel unchanged on Thursday across the four metros. Accordingly, in the national capital, petrol price remains at Rs 95.56 per litre while diesel at Rs 86.47 per litre. Similarly, in Mumbai, Chennai and Kolkata, petrol continues to be priced at Wednesday's level of Rs 101.76, Rs 96.94 and Rs 95.52 per litre respectively, and diesel at Rs 93.85, Rs 91.15 and Rs 89.32 per litre, respectively. With crud
  • Vehicle retail sales plunges sequentially in May: FADA
    New Delhi, June 10 (IANS): India's overall vehicle registrations declined by 54.79 per cent on a sequential basis in May 2021. Similarly, the data released by the Federation of Automobile Dealers Associations (FADA) showed a decline of 70.60 per cent during the month under review from the level of May 2019. Accordingly, vehicle registration stood at 5,35,855 units in May 2021, compared to 18,22,566 units reported for the corresponding period of 2019 and 11,85,374 units in Apr
  • SK Telecom to conduct spinoff in November for future chip tech
    Seoul, June 10 (IANS): SK Telecom, South Korea's top wireless carrier, decided on Thursday to spin off a new investment company in November to expand its foothold in new tech sectors, as well as conduct a 5-for-1 stock split aimed at improving shareholder value. The wireless carrier's board of directors approved the spinoff plan, and the new company, tentatively named SKT Investment Co., will be split on November 1, according to a company regulatory filing. Under the spin
  • China-based hackers luring Indians into fake Tata Motors scam
    New Delhi, June 10 (IANS): Cyber-security researchers in India on Thursday said they have discovered a malicious free gift campaign pretending to be an offer from Tata Motors that is collecting users' data, and the campaign has been traced to China-based hackers. The research wing of New Delhi-based CyberPeace Foundation received some links via WhatsApp, related to a free gift offer from Tata Motors, collecting browser and system information as well as the cookie data from the u
  • Concerns over digital payments fraud grows in India: Survey
    MUMBAI, JUNE 9 (IANS): Consumers in India are increasingly concerned about digital payments fraud and are exercising greater caution when using digital payments compared to a year ago, according to a new study conducted by YouGov and ACI Worldwide. Around 71 per cent consumers said they are more concerned about scams and fraud because of Covid-19, compared to 47 per cent consumers last year at the onset of the pandemic, said a statement by ACI Worldwide. The survey showed that ne
  • FSSAI asks states to enforce decision to ban blending of mustard oil with other cooking oil
    New Delhi, June 9 (PTI): Food regulator FSSAI has asked states to effectively enforce the decision to ban blending of mustard oil with any other cooking oil from June 8. In its notification dated March 8, the FSSAI had prohibited the blending of mustard oil for production of Multi-Sourced Edible Vegetable Oils (MSEVOs) with effect from June 8. To ensure that the prohibition is effectively enforced, the food regulator has issued an order on June 8 asking all the Commissioners of F
  • Quickening vaccination coverage critical for regaining growth momentum: FinMin report
    New Delhi, June 9 (PTI): Quickening the pace and coverage of vaccination of people against COVID is critical for regaining growth momentum as economic activities are inextricably linked to the path of the pandemic, the finance ministry said in its monthly economic report on Wednesday. "As we cautiously recuperate from the second wave, rapidly improving vaccination delivery and frontloading the fiscal measures planned in the Union Budget hold key to invigorating the investment c
  • Microsoft, 5 other firms fined for personal data leaks
    Seoul, June 9 (IANS): South Korea's data protection watchdog said on Wednesday that it has imposed monetary penalties on six companies and institutions, including technology giant Microsoft and an affiliate of local internet giant Kakao, for failing to protect personal information of their clients by negligence. The Personal Information Protection Commission (PIPC) said that the six entities were ordered to pay 84.4 million won (US$75,700) in penalties -- penalty surcharges
  • Tata Motors to discontinue select variants of Nexon
    NEW DELHI, JUNE 9 (IANS): Tata Motors has decided to discontinue select variants of compact SUV Nexon. "To simplify the choices for its customers, Tata Motors has opted to discontinue select variants and introduced updates in others," the automaker said in a statement. At present, Nexon is available in 20 variants offering product propositions at different price points and the most choice in the compact SUV segment. According to the company, currently, Nexon's ra
  • Mango varieties from Bengal, Bihar to be showcased in Bahrain
    KOLKATA, JUNE 9 (IANS): For the first time, 4,000 kg kilogram mangoes, spanning 16 varieties from West Bengal and Bihar, will be exported to Bahrain and will be displayed in different stalls there for eight days. The process is a part of the effort to promote the local and lesser-known mangoes internationally. To promote the lesser-known mangoes of the state and Bihar, the Agricultural & Processed Food Products Export Development Authority (APEDA) has organised the event for
  • Cabinet approves allocation of 5MHz spectrum for railways to improve communication and signalling
    New Delhi, June 9 (PTI): The Union Cabinet on Wednesday approved allocation of 5 MHz spectrum in the 700 MHz band to Indian Railways for improving its communication and signalling systems, Union minister Prakash Javadekar said. He said it will help improve safety of passengers on the transport network. The project with an estimated cost of Rs 25,000 crore will be completed in the next five years. The railways currently relies on optical fibre for its communication network but
  • Hyundai commences booking for SUV Alcazar
    NEW DELHI, JUNE 9 (IANS): Automaker Hyundai Motor India on Wednesday commenced bookings for upcoming premium SUV Alcazar. Accordingly, the company is accepting bookings at Dealerships and on its online car buying platform for Rs 25,000. "Customers can choose from four powertrains that include 2.0 l Petrol MPi engine and 1.5 l Diesel CRDi engine with options of 6-Speed Manual and 6-Speed Automatic transmissions," the company said in a statement . "The 2.0 l Petro
  • El Salvador becomes 1st country to make Bitcoin a legal tender
    SAN SALVADOR, JUNE 9 (IANS): El Salvador President Nayib Bukele on Wednesday announced that the country has approved the bill to make Bitcoin cryptocurrency a legal tender in the Central American country. The Central American country is now the first country in the world to make Bitcoin legal tender. "The #BitcoinLaw has been approved by a supermajority in the Salvadoran Congress. 62 out of 84 votes! History!," tweeted Bukele. Bukele on June 5 announced the move in a
  • Railways says deaths on tracks due to 'trespassing', lists measures to curb such fatalities
    New Delhi, June 8 (PTI): Days after it came to light that 8,733 people died on railway tracks in 2020, Railway Board Chairman Suneet Sharma on Tuesday said these "are purely deaths by trespassing and not railway accidents". In a press briefing, Sharma also listed several measures taken by the railways in the past two years to prevent such fatalities. He said that over the last two years 448 foot over bridges have been constructed by the railways, taking the total number
  • YouTube rolls out video playback speed controls for Android TV
    SAN FRANCISCO, JUNE 8 (IANS): Google is widely rolling out support for playback speed controls on YouTube for Android TV. The added support for playback speed controls lets users slow down or speed up a video based on their preferences. This is a feature that's long been available on the YouTube website and in mobile apps, but now it's also available on TVs, 9To5Google reported. The option appears under the extended settings menu. Once you have landed on it, though,