Business

  • Samsung to launch new premium vacuum cleaner
    SEOUL, MARCH 24 (IANS): Samsung Electronics on Wednesday said its new premium vacuum cleaner will go on sale in South Korea next month as the tech giant targets to boost home appliance goods amid the pandemic-induced stay-at-home trend. The BESPOKE Jet, featuring an automatic dust emptying system in a battery charging station, will be sold at between 890,000 won ($780) and 1.39 million won here starting in April, according to Samsung. The new cordless stick vacuum cleaner comes i
  • You can buy a Tesla with Bitcoin in US: Elon Musk
    SAN FRANCISCO, MARCH 24 (IANS): Tesla CEO Elon Musk said on Wednesday that people in the US can now buy a Tesla with Bitcoins, and the option to pay with the popular cryptocurrency will be available to other countries later this year. The electric car company announced to start accepting Bitcoin as payment over a month ago. Tesla has already invested $1.5 billion in Bitcoins. One Bitcoin is currently worth a little over $56,000, which means people need to pay a little less than o
  • Fuel prices fall on sharp decline in global rates
    NEW DELHI, MARCH 24 (IANS): Consumers can heave a sign of relief as oil marketing companies (OMCs) have finally relented and reduced the retail price of petrol and diesel after keeping them steady for past 24 days. This is first reduction in petrol and diesel prices in 2021. Petrol price fell by 18 paise per litre and diesel by 17 paise per litre in Delhi on Wednesday. This has brought down the retail price of petrol to Rs 90.99 and diesel to Rs 81.47 a litre, respectively in the
  • Govt may seek details of interest on interest charged by banks
    NEW DELHI, MARCH 24 (IANS): Government may ask banks to provide details of interest on interest collected by them for loans exposure of over Rs 2 crore. This follows the Supreme Court's observation given on Tuesday where it noted that the RBI and the government have not provided any rationale for the overall borrower's debt cap of Rs 2 crore for waiver of interest on interest and directed them to provide such relief to borrowers with overall exposure of over Rs 2 crore as we
  • 3 in 4 workers want flexible remote work to continue: Microsoft
    New Delhi, March 23 (IANS): As Microsoft plans to reopen its US-based headquarters and nearby campuses from March 29, a new survey by the tech giant revealed on Tuesday that 73 per cent of workers want flexible remote work options to continue globally, as hybrid work is set to become the next great disruption. Remote job postings on Microsoft-owned LinkedIn has increased more than five times during the pandemic. "Over 40 per cent of the global workforce is considering leavin
  • New tax-free ceiling on PF for employees in firms without employer contribution
    New Delhi, March 23 (IANS): The government has put yet another ceiling on tax-free contribution made to provident funds. Replying to the debate on Budget 2021-22, Finance Minister Nirmala Sitharaman said that a ceiling of Rs 5 lakh per annum would be applied in those cases where there is no contribution towards provident fund (PF) by the employer. Presenting the Budget 2021-22, Finance Minister Nirmala Sitharaman had earlier proposed to restrict tax exemption for the interest income
  • Petrol, diesel prices steady, though crude softens
    New Delhi, March 23 (IANS): Fuel prices in the country have remained steady for over three weeks now as softening crude and Assembly elections in four states and one union territory has kept Oilcos from revising the retail prices. Accordingly, petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a litre in the capital on Tuesday. Fuel prices have not been revised now for 24 days. Across the country as well the petrol and diesel prices remained unchanged. But the
  • India look set to seize laptop manufacturing opportunity
    NEW DELHI, MARCH 22 (IANS): After making tremendous strides in smartphone manufacturing in the past few years, India now appears set to seize the opportunity to manufacture laptops and tablets. The Union cabinet in February approved a Rs 7,325-crore production linked incentive (PLI) scheme for laptops, tablets, all-in-one-personal computers, and servers. "In a post-virus era, amidst the ongoing realignment of global value chains, the PLI scheme for IT hardware will give a st
  • Govt explores introduction of 'flex-fuel' vehicles in India
    NEW DELHI, MARCH 22 (IANS): Auto companies may soon be asked to manufacture passenger and commercial vehicles that run on multiple fuel configuration aimed at reducing the use of polluting fossil fuels and cutting down harmful emissions. Subhash Narayan New Delhi, March 22 (IANS) Auto companies may soon be asked to manufacture passenger and commercial vehicles that run on multiple fuel configuration aimed at reducing the use of polluting fossil fuels and cutting down harmful emissio
  • Audi launches 'S5 Sportback' priced at over Rs 79 lakh
    MUMBAI, MARCH 22 (IANS): Luxury car manufacturer Audi on Monday launched 'new Audi S5 Sportback' in India priced from Rs 79.06 lakh (ex-showroom). According to the company, the four-door sports coupe is powered by a 3-litre, twin-turbo TFSI petrol engine delivering 354 hp and 500 Nm of torque. The engine is mated to an eight-speed 'Tiptronic' gearbox that sends power to all four wheels. "The Audi S5 Sportback is the second product launch this year...,"
  • Gold drops below Rs 45K/10g, silver futures plunge
    MUMBAI, MARCH 22 (IANS): Futures of precious metals continued their bearish trend on Monday with gold contracts on the MCX falling below the Rs 45,000 per 10 gram. The surge in US 10-year bond yields weighed on the futures of the yellow metal. The April contract of gold on the MCX is currently trading at Rs 44,888 per 10 gram, lower by Rs 133.00 or 0.30 per cent from its previous close. CapitalVia's weekly commodity report, said that for this week, traders should look forward
  • Gold drops below Rs 45K/10g, silver futures plunge
    Mumbai, March 22 (IANS): Futures of precious metals continued their bearish trend on Monday with gold contracts on the MCX falling below the Rs 45,000 per 10 gram. The surge in US 10-year bond yields weighed on the futures of the yellow metal. The April contract of gold on the MCX is currently trading at Rs 44,888 per 10 gram, lower by Rs 133.00 or 0.30 per cent from its previous close. CapitalVia's weekly commodity report, said that for this week, traders should look forward
  • Petrol, diesel prices remain unchanged on Monday
    NEW DELHI, MARCH 22 (IANS): Fuel prices in the country have remained steady for over three weeks now as softening crude and Assembly elections in four states and one union territory has kept Oilcos from revising the retail prices. Accordingly, petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a litre in the national capital on Monday. Fuel prices have not been revised now for 23 days. Across the country as well the petrol and diesel price remained unchanged. B
  • Manufacturing gaining lost momentum in Q-4: FICCI survey
    NEW DELHI, MARCH 22 (IANS): FICCI's latest quarterly survey on manufacturing assessed recovery of the sector for Q-3 (October-December 2020-21) and pointed that it is expected to regain the lost momentum in the Q-4. The percentage of respondents reporting higher production in the third quarter of 2020-21 had increased vis-a-vis the Q-2 of 2020-21. The proportion of respondents reporting higher output during October-December 2020 rose to 33 per cent, as compared to 24 per cent in
  • Brazil fines Apple $2M for no charger with iPhone 12
    Rio de Janeiro, March 21 (IANS): Brazilian consumer watchdog has fined Apple $2 million for not including a charger in the newly-launched iPhone 12 series, accusing the tech giant of allegedly engaging in misleading advertising, selling a device without the charger and unfair terms. Apple in October last year announced that the iPhone 12 would not come with chargers or earbuds in their boxes, citing environmental concerns. The new iPhones come with only a USB-C to Lightning cable.
  • Despite price hike, PVs having sustainable demand recovery
    NEW DELHI, MARCH 21 (IANS): Despite price hikes, the passenger vehicle and two wheeler segments are experiencing sustainable demand recovery, India Ratings and Research (Ind-Ra) said in a report. Notably, the domestic automobile industry's sales volumes (excluding CVs) grew 10 per cent YoY in February 2021, recording positive growth for the seventh consecutive month. Segment wise, PV and 2W sales volumes were up 18 per cent and 10 per cent YoY, respectively, in February 2021.
  • Our digital transactions have gone as high as 67 pc now: SBI Chairman
    Mumbai, Mar 19 (PTI) The country's largest lender State Bank of India has seen a perceptible increase in the number transactions happening at its multiple digital channels, with the percentage moving from 60 per cent in the pre-pandemic period to 67 per cent currently, Chairman Dinesh Khara said. The rise in the number of digital transactions at the bank was largely driven by pick up in e-commerce during the pandemic-induced lockdown, which restricted movement, he said. When
  • 20 states with ease of doing business to borrow Rs 39K cr
    New Delhi, March 20 (IANS): Twenty states who have successfully completed the "Ease of Doing Business" reforms have turned eligible for addtional borrowing of 0.25 per cent of Gross State Domestic Product (GSDP). Five more -- Arunachal Pradesh, Chhattisgarh, Goa, Meghalaya and Tripura have completed the "Ease of Doing Business" reforms stipulated by the Department of Expenditure but are not in the eligibility list for the borrowing. Accordingly, on receipt of
  • Xiaomi projected to be 3rd largest phone maker globally in 2021
    New Delhi, March 20 (IANS): Buoyed by its stellar performance in India and Russia markets, Chinese smartphone maker Xiaomi is projected to become the third largest global brand after Samsung and Apple in 2021, according to a new report. The year 2021 is going to be the year of Chinese smartphone vendors and the third and fourth spots are likely to go to Vivo and OPPO, respectively. "In Asia Pacific, Vivo, Xiaomi and OPPO will become top 3 players driven by aggressive marketi
  • Fuel prices unchanged for 3 weeks
    New Delhi, March 20 (IANS): Fuel prices in the country have remained steady for three weeks now as softening crude and upcoming assembly elections in a few states have kept Oil companies from revising the retail prices. Accordingly, petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a litre in the capital on Saturday. Fuel prices have not been revised now for 21 days. Across the country as well, the petrol and diesel prices remain unchanged. But the pause has n