Business

  • Govt gives OTT, digital media players 15 days to furnish details on compliance with new rules
    NEW DELHI, MAY 27 (IANS): The Centre has written to the OTT and digital media platforms to furnish all their details and compliance status as per the new IT rules within 15 days. In its notice to the platforms, the Ministry of Information & Broadcasting said that a total of around 60 publishers and their associations have informed the ministry that they have already initiated the process of formation of self-regulatory bodies under the Information Technology (Intermediary Guidel
  • Ford India workers boycott lunch over early action on Covid measures
    CHENNAI, MAY 27 (IANS): About 900 workers of Ford India Private Ltd on Thursday boycotted lunch demanding an early settlement of their Covid-19 related demands, said a Union official. "About 900 workers boycotted lunch today (Thursday) at the plant. We want the company management to complete the talks early. We felt the management is delaying the talks," a Union official told IANS. He said only one shift is operated at the factory. The workers have requested Ford Ind
  • Health crisis can be more pervasive, debilitating for economy: RBI
    New Delhi, May 27 (IANS) Compared to financial crises, a health crisis can be more pervasive, persistent and debilitating in its impact on the real economy, as per the RBI annual report for 2020-21. "Letting down the guard is perilous; it is best to prepare for future waves," the report said. It added that private investment is the missing piece in the story of the Indian economy in 2020-21; reviving it awaits an environment in which "animal spirits" are rekin
  • India external HDD market grows 32% in Q1 2021: Report
    New Delhi, May 27 (IANS) Led by Seagate, the India external HDD market recorded 32 per cent growth (on-year) in the first quarter of this year, a new report showed on Thursday. Seagate led the market with 47 per cent market share, followed by Western Digital at 42 per cent in the overall external HDD category, according to CyberMedia Research's (CMR) India External Hard Drive Market Review. "External HDDs have been the consumers favourite when it comes to cost effective
  • India wearables market see highest 11.4M unit shipments in Q1
    NEW DELHI, MAY 27 (IANS): The strong momentum in the watch and earwear categories led to the highest ever first-quarter shipments of wearables in India, an IDC report said on Thursday. The India wearables market grew 170.3 per cent (year-over-year) in Q1, shipping 11.4 million units, according to the data from IDC's 'Worldwide Quarterly Wearable Device Tracker'. Watches grew 463.8 per cent (YoY) in Q1 to become the fastest-growing category in wearables, replacing earw
  • Lockdowns led to 12% fall in liquor sales in FY21: CIABC
    NEW DELHI, MAY 27 (IANS): Nationwide lockdowns that were necessitated due to the Corona pandemic impacted sales of IMFL (a Indian made foreign liquor) products across India in 2020-21 with overall sales dropping by 12 per cent, according to CIABC, the apex body of the Indian alcoholic beverage industry. Though the sales picked up in the second half of 2020-21 in most parts, the States which imposed high Corona cess and other taxes after the first wave of Covid-19 showed poor recover
  • Fuel price rise paused a day after reaching new highs
    New Delhi, May 26 (IANS): A day after the hike, oil marketing companies (OMCs) on Wednesday again paused increase in the pump prices of petrol and diesel across the country, looking to wait and watch global oil price movement before making their next move. Accordingly, petrol price remains at Rs 93.44 per litre and diesel Rs 84.32 per litre in Delhi. Across the country as well the fuel prices remained static on Wednesday after rising by 20-27 paise per litre a day earlier bu
  • ICICI Bank links UPI ID facility to its 'Pockets' digital wallet
    Mumbai, May 26 (IANS): ICICI Bank on Wednesday announced the launch of a unique facility of linking a UPI (Unified Payments Interface) ID to its digital wallet 'Pockets', marking a departure from the current practice that demands such IDs be linked with a savings bank account. New users, including those who are not customers of ICICI Bank, can now instantly get a UPI ID, which is automatically linked to 'Pockets'. Further, customers who already have a UPI ID, will ge
  • Bosch launches AIoT platform for real-time energy management
    Bengaluru, May 26 (IANS): Robert Bosch Engineering and Business Solutions (RBEI) on Wednesday launched an AIoT (Artificial Intelligence of Things) platform called Phantom Edge that provides real-time electrical energy consumption, operating usage, electrical parameters and appliance-level information. The AIoT platform, for which the price was yet to be revealed, can be used for real-time energy monitoring in retail, residential, mobility, healthcare, agriculture and commercial spac
  • 34,964 units to be exported between May-Oct: Renault Nissan Automotive
    Chennai, May 26 (IANS): Franco-Japanese joint venture car maker Renault Nissan Automotive India Ltd that announced closure of its plant near here for five days to prevent Covid-19 spread has to roll out 34,964 units to meet export obligations between May-October 2021. In addition, the company has to roll out 45,000 Nissan Magnite and Renault Kiger cars to be delivered for Indian buyers. Renault Nissan Automotive is the car manufacturing joint venture between French company Renaul
  • AEPC seeks 'essential service' tag for apparel exports
    New Delhi, May 26 (IANS) Apparel Export Promotion Council (AEPC) has urged Prime Minister Narendra Modi to declare apparel exports as essential services and exempt these exporting units from lockdowns across India. "We request that the Central government should issue necessary instructions to all the state governments to declare apparel exports as essential services and exempt them from shutdown," AEPC Chairman A. Sakthivel wrote in a letter to the Prime Minister. He no
  • Tesla announces new data centre in China
    Beijing, May 26 (IANS): Elon Musk-owned EV maker Tesla has announced a new data centre in China to keep data collected from vehicles in the country locally. The news comes after the government banned Tesla cars from more locations over data collection concerns. "We have established a data center in China to achieve data storage localisation and will continue to add more local data centers," Tesla announced via its official Weibo account. "All data generated from
  • Covid 2.0 interrupted auto sales momentum: Ind-Ra
    NEW DELHI, MAY 26 (IANS): The second wave of the Covid-19 pandemic has interrupted the sales momentum recorded by the automobile industry in 3Q-4Q FY21, India Ratings and Research (Ind-Ra) said on Tuesday. Accordingly, many original equipment manufacturers (OEMs) have advanced maintenance shutdowns to April and May on account of dampening consumer sentiments, closure of automotive dealerships, as well as supply-side constraints. "The domestic automobile industry's sales
  • Fuel price rise paused a day after reaching new highs
    NEW DELHI, MAY 26 (IANS): A day after the hike, oil marketing companies (OMCs) on Wednesday again paused increase in the pump prices of petrol and diesel across the country, looking to wait and watch global oil price movement before making their next move. Accordingly, petrol price remains at Rs 93.44 per litre and diesel Rs 84.32 per litre in Delhi. Across the country as well the fuel prices remained static on Wednesday after rising by 20-27 paise per litre a day earlier but the
  • ICICI Bank links UPI ID facility to its 'Pockets' digital wallet
    MUMBAI, MAY 26 (IANS): ICICI Bank on Wednesday announced the launch of a unique facility of linking a UPI (Unified Payments Interface) ID to its digital wallet 'Pockets', marking a departure from the current practice that demands such IDs be linked with a savings bank account. New users, including those who are not customers of ICICI Bank, can now instantly get a UPI ID, which is automatically linked to 'Pockets'. Further, customers who already have a UPI ID, will ge
  • Renault Nissan Automotive to shut down TN plant for 5 days
    Chennai, May 25 (IANS) A day after its workers union announced indefinite boycott of work from May 26, Franco-Japanese car making joint venture Renault Nissan Automotive India Private Ltd on Tuesday decided to close its factory between May 26-30 and restart on May 31, a top union leader said. "The management had talks with the union today (Tuesday). They have decided to close down the factory from May 26 to May 30. They said they would restart the factory on May 31," Renau
  • Thomson slashes prices of Smart TVs, washing machines & air-coolers
    NEW DELHI, MAY 25 (IANS): Europe's consumer technology brand Thomson is offering big discounts on its range of smart TVs and home appliances during 'Big Savings Day Sale' from May 27 to 29 on Flipkart. Early access starts on May 26 that will offer a Thomson 40 inch LED TV at Rs 18,999 for Flipkart plus users. "Keeping the ongoing situation in mind we are offering an honest & fair pricing without trying to burden our customers," Avneet Singh Marwah, CEO,
  • Close factories or treat us as frontline Covidwarriors: Auto workers demand
    CHENNAI, MAY 25 (IANS): With hundreds of them in many automobile units getting infected with coronavirus in the second wave, workers want factories to shut down to break the Covid-19 chain spread. With the Tamil Nadu government classifying automobile units as Public Utility Service, workers want the companies to treat them as Covid-19 frontline workers and pay a compensation of Rs.50 lakh to the family of the workers who die due to coronavirus. Terming the classification of autom
  • ICICI Prudential Life pension plan to offer increasing regular income
    MUMBAI, MAY 25 (IANS): ICICI Prudential Life Insurance has introduced a retirement solution by combining two variants of its 'Guaranteed Pension Plan', which offers a guaranteed return on investments. This solution provides customers with increasing regular income that doubles after five years and triples after the 11th year, thereby shielding subscribers against the rising cost of living. Amit Palta, Chief Distribution Officer, ICICI Prudential Life Insurance, said, &quo
  • TCL, Flipkart unveil new range of smart TVs in India
    NEW DELHI, MAY 25 (IANS): Consumer electronics brand TCL on Tuesday unveiled a new range of smart TVs in India in association with e-commerce marketplace Flipkart. With this launch, TCL expands its current partnership with Flipkart which began with the successful launch of its sub-brand iFFALCON three years ago. "We are elated to associate with Flipkart and look forward to this partnership," Mike Chen, General Manager, TCL India, said in a statement. "The launch