Business

  • Federer becomes brand ambassador for Swiss tourism board
    Pasel (Switzerland), March 29 (IANS): Tennis great Roger Federer has become an official brand ambassador for Switzerland Tourism (ST), the country's national tourism board. "Roger Federer and Switzerland Tourism will together develop initiatives to promote Switzerland globally. The support is much needed at this time, emerging from the biggest tourism crisis since the Second World War," said the board in a statement on Monday. A series of visuals and short clips wil
  • Domestic fuel rates expected to fall as Covid surge dampens Crude cost
    New Delhi, March 29 (IANS): The slide in global crude oil prices on Monday gave hope for a similar fall in domestic petroleum prices. The fall in oil prices comes after a blockage at strategic Suez Canal spooked global Impex industry, while a massive wave of Covid-19 infections continued to impact large parts of Europe. Resultantly, global fears have resurfaced on the slowdown economic recovery due to this wave. At present, crude prices are reacting to the negative news flows.
  • Domestic fuel prices expected to fall as Covid surge dampens Crude cost
    New Delhi, March 29 (IANS): The slide in global crude oil prices below $60 a barrel mark on Monday gave hope for a similar fall in domestic petroleum prices. The fall in oil prices comes after a massive wave of Covid-19 infections continued to impact large parts of Europe. Resultantly, global fears have resurfaced on the slowdown in the economic recovery due to this wave. At present, crude prices are reacting to the negative news flows. The Brent crude futures slipped below
  • Suez Canal blockade to cause losses in billions of dollars for insurers
    New Delhi, March 29 (IANS): With a loss of $ 9 billion per day due to the Suez Canal being blocked by a container ship, global industry is awaiting the enormity of insurance claims. For India, pressure could mount for certain industries that depend on Europe and the US and it is expected that there could be pressure for a while on the Indian ports on the west coast as many of these vessels may seek berthing together/in rapid succession. R. Balasundaram, Executive Vice-president,
  • Musk deletes Tesla could be biggest firm in 'a few months' tweet
    San Francisco, March 28 (IANS): Tesla CEO Elon Musk has now deleted a tweet in which he claimed that electric car maker Tesla could be the biggest company "in a few months". In reply to a follower's tweet, Musk last week said, "I think there is a >0% (greater than zero per cent) chance Tesla could be the biggest company," added, "probably within a few months" in replies to followers. While the first part of the tweet which indicated that Tesla
  • Efforts on to refloat container ship stuck in Suez Canal
    New Delhi, March 28 (IANS): A large container ship, 'Ever Given' remains stuck in Egypt's Suez Canal, the busiest waterway in the world. The ship, a vessel named the 'Ever Given', ran aground after strong winds and a sandstorm caused low visibility and poor navigation, the Suez Canal Authority said in a statement. The ship was en route to the Dutch point of Rotterdam when it was knocked off course, CNN reported. The Ever Given, at 400 meters (1,312 feet), is a
  • Former worker sues Amazon for not providing lunch breaks
    SAN FRANCISCO, MARCH 28 (IANS): A former Amazon worker has sued the e-commerce giant in the US for not scheduling the mandatory 30-minute meal breaks for employees. Lovenia Scott, a former employee of Amazon's fulfilment centre in Vacaville, California, alleged that the company didn't provide enough rest breaks for workers, The Verge reported on Saturday. "When they did get their meal breaks, workers were expected to monitor their walkie-talkies in case of any proble
  • Faster electrification of urban focused scooters expected
    NEW DELHI, MARCH 28 (IANS): Narrowing the price gap between internal combustion engine equipped two-wheelers and their electric variant, can accelerate electrification of urban focused scooters, said Motilal Oswal Financial Services Ltd. (MOFSL). Accordingly, MOFSL in a report cited that cost of ownership due to regulatory factors, rising fuel prices, reduction in Lithium-ion battery prices, and Faster Adoption and Manufacturing of Electric vehicles (FAME)-2 or state government subs
  • BIS certification to be mandatory on packaged drinking water
    New Delhi, March 27 (IANS): The Food Safety and Standards Authority of India (FSSAI) has made it mandatory for manufacturers of packaged drinking water and mineral water to take BIS certification for obtaining license or registration from the regulator. The FSSAI on Friday said that FBOs(Food Business Operators) will have to mandatorily upload copy of the BIS (Bureau of Indian Standards) license or copy of letter indicating recording of application for BIS license, at the time of ap
  • Petrol, diesel remain static for 2nd straight day
    New Delhi, March 27 (IANS): Fuel prices were unchanged for the second straight day after declining for two days in a row. In the national capital, petrol was sold for Rs 90.78 per litre. Price of the fuel in Mumbai, Chennai and Kolkata was at Rs 97.19, Rs 92.77 and Rs 90.98 per litre, respectively on Saturday. Diesel prices in Delhi, Mumbai, Chennai and Kolkata were at Rs 81.10, Rs 88.20, Rs 86.10 and Rs 83.98 per litre, respectively. Fuel prices which impact the common man
  • ASUS launches all in one Windows PC in India
    NEW DELHI, MARCH 26 (IANS): ASUS on Friday launched all in one Windows computer AiO V241 with dual functionality of PC and display in the Indian market for Rs 61,990. According to the company, ASUS AiO V241 aims to enable consumers to meet their computing needs and video conferencing needs met by a PC but also all multimedia content consumption needs such as watching TV, Playing Console Games, Watching OTT Content, Streaming movies etc. on a single device. "The launch of the
  • Tesla must tell Musk to delete a 2018 tweet, rules US agency
    San Francisco, March 26 (IANS): The US National Labor Relations Board (NLRB) has told Tesla to tell its CEO Elon Musk to delete an anti-union tweet he posted in 2018. Musk had tweeted: "Nothing stopping Tesla team at our car plant from voting union. Could do so tmrw if they wanted. But why pay union dues & give up stock options for nothing? Our safety record is 2X better than when plant was UAW & everybody already gets healthcare". The board on Thursday gave the
  • After 2 days of fall, fuel price revision on a pause
    New Delhi, March 26 (IANS): Oil marketing companies on Friday went on pause mode and decided against revising petrol and diesel after cutting its retail rates in the previous two days. Accordingly, the pump price of petrol and diesel remained at previous days level of Rs 90.78 and Rs 81.10 a litre respectively in the national capital. Petrol and diesel prices fell by 39 paise and 37 paise per litre respectively in two consecutive days of revision on Wednesday and Thursday in wake
  • RBI flags major concerns over cryptocurrency
    NEW DELHI, MARCH 25 (IANS): Reserve Bank of India Governor Shaktikanta Das on Thursday said that the central bank has flagged major concerns over cryptocurrency to the government. Speaking at the Times Network India Economic Conclave, the Governor said that digital currency is one thing and the cryptocurrencies which are being traded in the market is something else. The statement from the central bank governor gains significance as the government is set to come up with a Bill on
  • IRDAI directions for insurers on fraudulent calls
    CHENNAI, MARCH 25 (IANS): India's insurance sector regulator has directed all insurers to register their template of messages with their telecom service providers to control unsolicited and fraudulent messages to policyholders. Pointing out at the menace of spam calls and messages to policyholders, the Insurance Regulatory and Development Authority of India (IRDAI) has issued the direction. The IRDAI said the Telecom Regulatory Authority of India (TRAI) has notified a regulat
  • realme aims 10-15% share in mid-range phone segment in India
    NEW DELHI, MARCH 25 (IANS): With the launch of realme 8 series, the company is aiming to penetrate deeper into the booming Rs 10,000-Rs 20,000 mid-range 4G market, aiming 10-15 per cent market share in the segment flooded with devices from rivals Samsung and Xiaomi, a top executive said on Thursday. According to Madhav Sheth, VP, realme and CEO, realme India and Europe, the goal is to capture the young users across the country. "We plan to increase our market share in this s
  • Petrol, diesel prices fall for 2nd consecutive day
    NEW DELHI, MARCH 25 (IANS): Consumers can heave a sign of relief as oil marketing companies (OMCs) have finally relented and started reducing the retail price of petrol and diesel after keeping them steady for 24 days in March. This is the second reduction in petrol and diesel prices in as many days in 2021. Petrol price fell by 21 paise per litre and diesel by 20 paise per litre in Delhi on Thursday. This has brought down the retail price of petrol to Rs 90.78 and diesel to Rs 8
  • RS passes National Bank for Financing Infrastructure and Development Bill
    NEW DELHI, MARCH 25 (IANS): The Rajya Sabha on Thursday passed the National Bank for Financing Infrastructure and Development which was earlier passed by the Lok Sabha. The Bill will enable the establisment of the National Bank for Financing Infrastructure and Development to support the development of long term non-recourse infrastructure financing in India, including development of the bonds and derivatives markets necessary for infrastructure financing and to carry on the business
  • Power generators can exit loss making contracts with states
    NEW DELHI, MARCH 24 (IANS): The government has given freedom to the central sector power producers such as NTPC, NHPC and SJVN to sell power relinquished by state discoms to new buyers under long or short term contracts or place the surplus power on exchanges for discovery of price in the day ahead, term ahead and real time markets. The move is expected to provide new avenues to central generating stations (CGS) who could now find buyers with better paying capacity for power relinqu
  • Strong smartphone biz helps Xiaomi log solid growth in 2020
    HONG KONG, MARCH 24 (IANS): Xiaomi on Wednesday reported a robust performance driven by its smartphone business last year, with a total revenue of 245.9 billion yuan (nearly $37.7 billion) which is an increase of 19.4 per cent (on-year) and net profit of 13 billion yuan (nearly $2 billion). In 2020, Xiaomi's smartphone revenue amounted to 152.2 billion (nearly $23.3 billion) for the year, representing an increase of 24.6 per cent. The group's global smartphone shipments t