Business

  • GoAir makes history with 1st Srinagar night flight
    New Delhi, March 20 (IANS): Low cost carrier GoAir operated the first night flight from Srinagar to New Delhi, thus becoming the first airline in the history of Indian aviation to achieve this feat. The GoAir flight G8 7007 took off at 7.35 p.m. on Friday. It was an Airbus A320neo aircraft. Going forward, GoAir will operate daily scheduled flight from Srinagar that will depart at 8.30 p.m. GoAir was also the first airline to operate morning flights to-and-from Srinagar. Commen
  • Containerised import & export trade contracts 6.5%
    Mumbai, March 19 (IANS): For Indian trade, 2020 was a year dominated by unprecedented challenges, irregular manufacturing and buying patterns, disrupted trade environments and lack of predictability, Maersk report said on Friday. With the Covid-19 pandemic spreading across the world in a staggered manner and in varying proportions, the impact on containerised trade was felt the most in Q2/2020 when exports contracted by 34 per cent. As societies began to find ways to coexist with
  • Softening crude keeps Oilcos from raising fuel prices
    New Delhi, March 19 (IANS): Fuel prices in the country have remained steady for over a fortnight now as softening crude 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 Friday. Fuel prices have not been revised now for 20 days. Across the country as well the petrol and diesel price remain unchanged. But the pause has not helped in bringing down fuel prices that have c
  • PepsiCo Foundation invested over $22M in India to provide safe water access to communities in need
    NEW DELHI, MARCH 18 (IANS): PepsiCo, Inc. and The PepsiCo Foundation announced today that the company has helped more than 55 million people gain access to safe water globally since 2006 and out of this, 50 per cent beneficiaries i.e. over 27 million people are from India. The Foundation also catalyzed nearly $700 million in additional funding over the same period which included over $22 million investment in India to partner with multiple organizations like Water.org, Safe Water Ne
  • BMW unveils its 1st all-electric sedan i4, arriving this year
    MUNICH, MARCH 18 (IANS): Leading German luxury car-maker BMW Group has unveiled its first all-electric sedan called i4 that will enter the global market this year. BMW has plans to showcase 25 electrified cars by 2025 and on Wednesday, it shared the first exterior shots of the new 4-door model. The BMW i4 model line will be available in different versions covering ranges of up to 482 kms, according to its own preliminary tests based on the EPA's test procedures. With a pow
  • Amazon, Flipkart among foreign entities hell bent on destroying India's retail sector: CAIT
    NEW DELHI, MARCH 18 (IANS): The Confederation of All India Traders (CAIT) in a letter sent to Union Commerce Minister Piyush Goyal has said foreign entities like Amazon and Flipkart are hell bent on ruthlessly destroying the Indian retail sector with their deep pockets and expansive lobby of legal experts who will stop at nothing before trampling the lives of over 40 crore Indians. CAIT in a communication sent to Goyal said that FDI in e-commerce section of Press Note No.2 of FDI Po
  • Chinese hackers target telecoms companies worldwide
    SAN FRANCISCO, MARCH 17 (IANS): A hacking group, believed to be working out of China, is reportedly targeting telecom companies around the world in a bid to steal 5G technology secrets, among other sensitive information. Telecommunications providers in Southeast Asia, Europe and the US are being targeted as part of the campaign uncovered by researchers at cybersecurity company McAfee, ZDNet reported on Tuesday. The campaign has believed to have targeted at least 23 telecommunicat
  • Dell launches 17 next gen servers to help firms decode data
    NEW DELHI, MARCH 17 (IANS): Dell Technologies on Wednesday announced to refresh its PowerEdge server portfolio with 17 next-generation servers that will help firms analyse and take action on data wherever it resides. Dell-EMC PowerEdge servers and systems management can deliver up to 85 per cent time savings on average and eliminate dozens of steps with automation, the company said in a statement. "Remote working culture has led to a huge rise in the amount of data being gen
  • RBI nod before foreign national transacting in real estate mandatory: SC
    NEW DELHI, MARCH 17 (IANS): The Supreme Court has held that the condition predicated in Section 31 of the 1973 Act of obtaining "previous" general or special permission of the RBI for transfer or disposal of immovable property situated in India by sale or mortgage by a person, who is not a citizen of India, is mandatory. "Until such permission is accorded, in law, the transfer cannot be given effect to; and for contravening with that requirement, the concerned person
  • Nokia to lay off 10K employees, plans investment in 5G, Cloud
    NEW DELHI, MARCH 17 (IANS): Nokia has announced it will lay off 10,000 employees in the next two years as part of its restructuring plans, reset its cost bases and invest in R&D and future capabilities including 5G, cloud and digital infrastructure. On a group level, this is expected to lower the company's cost base by approximately 600 million euros by the end of 2023. These savings will offset increased investments in R&D, future capabilities and costs related to sa
  • Locally-assembled Jeep Wrangler launched in India
    NEW DELHI, MARCH 17 (IANS): Automobile manufacturer Jeep India on Wednesday launched the locally-assembled SUV Wrangler starting at Rs 53.90 lakh (ex-showroom price). Accordingly, the company launched locally-assembled Jeep Wrangler in two variants - the Unlimited and the Rubicon. Jeep India had started Wrangler's production in February. According to the company, both variants are powered by a Bharat Stage VI compliant 2.0-litre, IN-Line 4-cylinder, turbo petrol powertrain
  • Facebook eyes newsletter biz with new publishing platform
    SAN FRANCISCO, MARCH 17 (IANS): After launching Facebook News, the social network now aims to monetise the newsletter business and will soon start testing partnerships with independent writers for its new publishing platform. According to a report in Axios, the newsletter publishing platform is free-to-use, and will be integrated with Facebook Pages. The Pages integration will allow writers, journalists and content professionals to publish content outside of text, like live video
  • EESL launches market assessment study for Super-Efficient ACs
    NEW DELHI, MARCH 17 (IANS): Energy Efficiency Services Limited (EESL), a joint venture under the Union Ministry of Power with support from the Global Environment Facility (GEF) and UN Environment Programme (UNEP), had launched a market assessment study for Super-Efficient ACs. A report on District Cooling Potential in India was also launched in collaboration with UNEP, GEF, District Energy in Cities initiatives, EMPOWER Energy Solutions and Copenhagen Centre on Energy Efficiency wit
  • Mercedes-Benz India launches new E-Class
    NEW DELHI, MARCH 16 (IANS): Luxury car manufacturer Mercedes-Benz India on Tuesday launched the new E-Class with prices ranging from Rs 63.6 lakh to Rs 80.9 lakh. The company launched the E-Class in three variants 'E 200', 'E 220 d' and 'E 350 d'. "We had to advance the launch of the new E-Class owing to the successful run out of the outgoing model much ahead of our planning and for an overwhelming interest for the new model," said Martin Schwenk
  • Electrified Tata Motors set to roll small commercial e-vehicle
    NEW DELHI, MARCH 16 (IANS): After buses and passenger cars, automobile giant Tata Motors might soon roll-out an electric variant of its small commercial vehicle. In a conversation with IANS, Girish Wagh, President, Commercial Vehicle Business Unit of Tata Motors said the company has participated in 'FAME Phase I' scheme for electrification of buses. Centre had introduced the 'Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India' (FAME Ind
  • Croma launches full range of 'Croma Fire TV Edition Smart LED TVs'
    NEW DELHI, MARCH 16 (IANS): Croma, Indias first omni-channel electronics retailer from the Tata Group on Tuesday announced its partnership with Amazon to launch Croma Fire TV Edition Smart LED TVs, a new range of smart TVs, for customers in India. Through this strategic partnership, the brand aims to offer a more intuitive, simple, and customized experience that will take TV viewing to a whole new level. "The proliferation in OTT apps, and the consequent fragmentation in vie
  • Kodak TV India to invest Rs 300 cr to make IoT based intelligent TVs
    NEW DELHI, MARCH 16 (IANS): Kodak TV India on Tuesday announced an investment of over Rs 300 crore over the next three years to strengthen its capabilities in IoT technologies. The investment in IoT technologies will focus on building intelligent TVs that are intuitive and meet the demands of the "new Indian customer", a company statement said. Avneet Singh Marwah, Director and CEO, Super Plastronics Pvt Ltd, Kodak Brand Licensee in India, said: "In 2020, we focuse
  • Price hikes likely in consumer durables in March-April
    NEW DELHI, MARCH 16 (IANS): With a strong uptick in commodity prices, there exists a possibility of price hikes in consumer durables towards the end of March or beginning of April, as per Motilal Oswal Institutional Equities. "Our channel checks suggest that underlying retail sales are yet to pick up meaningfully (or match primary sales), but the confidence level is good among dealers, especially for Cooling products. The possibility of a price hike in April could lead to stron
  • Demand for e-vehicles in India more than doubled in 3 yrs
    NEW DELHI, MARCH 16 (IANS): The adoption of electric vehicle by commuters is on the rise in the country as falling prices and government support is pushing up demand and increasing adoption of these green vehicles. In a written reply to a question on e-vehicles in Lok Sabha on Tuesday, Minister of State for Heavy Industries Arjun Ram Meghwal said that number of registered electric vehicles as per e-vahan portal during the last three years has seen a consistent increase. As agains
  • Centre releases complete Rs 1.10 lakh cr GST compensation shortfall
    NEW DELHI, MARCH 15 (IANS): The Finance Ministry has released the final weekly instalment of Rs 4,104 crore to the states to meet the GST compensation shortfall. Out of this, an amount of Rs 4,086.97 crore has been released to 23 states and Rs 17.03 crore to 3 Union Territories with Legislative Assemblies. With the current release, 100 percent of the total estimated GST compensation shortfall of Rs 1.10 lakh crore for year 2020-21 has now been released to the states and UTs with