Business

  • Samsung tops global TV market with record share in Q1
    SEOUL, MAY 25 (IANS): Samsung Electronics maintained its status as the world's leading TV vendor with a record market share in the first quarter, a report showed on Tuesday, as the tech giant posted robust growth on the back of its QLED and large TVs. Samsung represented 32.9 percent of the global TV market in terms of sales revenue in the January-March period, its largest share for a first quarter, according to data from industry researcher Omdia. Samsung was followed by its
  • Flipkart hires 23K to bolster its supply chain amid pandemic
    Bengaluru, May 25 (IANS): Flipkart on Tuesday said it has hired 23,000 people across its supply chain, including delivery executives, in the last three months as the e-commerce marketplace strengthens the supply chain to fast deliver products while creating additional employment. The hiring was done keeping the growing demand for e-commerce services across the country, as people continue to remain indoors to fight the pandemic, which has necessitated a ramp-up of supply chain, the c
  • Petrol and diesel get dearer, retail prices rise by 25 p/l
    New Delhi, May 25 (IANS): A day after holding back a hike, the oil marketing companies (OMCs) on Tuesday increased the pump price of petrol and diesel across the country with global oil showing signs of firming amidst reports that Iranian oil may not hit the markets soon. Accordingly, petrol prices increased by 23 paise per litre to Rs 93.44 per litre and diesel by 25 paise per litre to Rs 84.32 per litre in Delhi. Across the country as well the fuel prices increased between 20-2
  • Covid-19 spread fear brews labour unrest in TN auto units
    Chennai, May 24 (IANS): Covid-19 related labour unrest is slowly brewing in the automobile sector in Tamil Nadu, with workers demanding shutting down of the factories during the lockdown period and maintaining social distancing at work. On Monday, workers of country's second largest car maker Hyundai Motor India Ltd stopped production demanding closure of the factory as about 750 workers turned Covid-19 positive during April and May. "In the last two months, 750 workers
  • Landomus takes ad route to request PM for $500 billion investment
    New Delhi, May 24 (IANS) A relatively unknown US based company Landomus Group has announced a Build India programme under which it would like to invest $500 Billion in Equity as the first phase of the $2 Trillion investment. This would be into the National Infrastructure Pipeline (NIP) and Non-NIP projects listed by the Government of India under the India Investment Grid for "Invest India" initiative. Landomus announced this through a newspaper advertisement addressed t
  • ITC first hotel chain to receive platinum certification
    NEW DELHI, MAY 24 (IANS): ITC Hotels has achieved the distinctive milestone of being the First Hotel chain in the world to receive the Platinum level certification under DNV's My Care Infection risk management programme. Certification programme "My Care" by DNV, is developed at a global stage by a team of expert infection risk and hospital management professionals. The maturity model of the programme (Level 1 to 5) assesses and covers all facets of hotel operations on
  • Fuel prices rise paused again, rate static on Monday
    New Delhi, May 24 (IANS): The oil marketing companies (OMC) kept petrol and diesel prices unchanged on Monday across the four metros. Accordingly, in the national capital, diesel price remains at Rs 84.07 per litre while petrol at 93.21 per litre. Similarly, in Mumbai, Chennai and Kolkata, diesel continues to be priced at Sunday's level of Rs 91.30, Rs 88.87 and Rs 86.91 per litre respectively, and petrol at Rs 99.49, Rs 94.86 and Rs 93.27 per litre, respectively. With cru
  • Mahindra Rural Housing Finance, India Post Payments Bank partner for cash management solution
    New Delhi, May 24 (IANS): Mahindra Rural Housing Finance Limited (MRHFL), a subsidiary of Mahindra and Mahindra Financial Ltd, and India Post Payments Bank (IPPB) on Monday announced a strategic partnership for cash management solution. As part of the tie-up, IPPB will be offering cash management and collection services to MRHFL through its access points and postal service providers. With the cash management service, MRHFL customers will be able to repay their monthly or quarterl
  • '5 Renault Nissan workers dead, 850 Covid-19 infected'
    Chennai, May 24 (IANS): Five workers have died and about 850 have been infected with coronavirus at Renault Nissan Automotive India Private Ltd since last year, said a top leader of Renault Nissan India Thozhilalar Sangam (RNITS). He also said in 2021 alone 420 employees have tested Covid-19 positive. The Renault Nissan Automotive is a joint venture car manufacturing plant of French auto major Renault and Japan's Nissan Motor Company. "All our workers are young and th
  • Roche's antibody Covid drug now available in India
    Mumbai, May 24 (IANS): Roche India on Monday announced the rollout of its first batch of the antibody cocktail (Casirivimab and Imdevimab) against Coronavirus in India. The cocktail drug will be marketed by Cipla pan-India. The second batch of the cocktail jabs will be made available by mid-June. Together, they can potentially benefit 200,000 patients as each of the 100,000 packs that will be available in India offers treatment for two patients, the company said in a statement. T
  • The great Indian Crypto circus
    Srinath Sridharan IANS Amongst all its Indian stakeholders, there are strong undercurrents, deafening official-silence and unofficial-posturing, all around. Over the past few months, the government has had its varying views & intent about crypto. The RBI has been silent about Crypto. The crypto investor community has been euphoric about the instrument and equally miffed with the Indian officialdoms behaviour. All this, when the topic of Crypto was purportedly solved last year w
  • Fuel prices rise, diesel above Rs 84/litre in Delhi
    New Delhi, May 23 (IANS): The oil marketing companies (OMC) hiked petrol and diesel prices on Sunday across the four metros. In the national capital, diesel price crossed the Rs 84 per litre mark. Price of the fuel in Delhi increased 27 paise to Rs 84.07 per litre. Similarly, in Mumbai, Chennai and Kolkata, diesel was priced at Rs 91.30, Rs 88.87 and Rs 86.91 per litre respectively, up from the previous levels of Rs 91.01, Rs 88.62 and Rs 86.64 per litre. Petrol prices also in
  • CII suggests changes in RBI norms for appointment of statutory auditors by banks, NBFCs
    NEW DELHI, MAY 23 (IANS): The Confederation of Indian Industry has come up with several recommendations for changes in the Reserve Bank of India's guidelines for appointment of statutory auditors by banks and NBFCs. Commending the RBI's intent of working towards strengthening the audit quality and governance process, CII in a statement, noted that this process is critical and fundamental to trust and credibility of the capital market. CII has suggested that the requiremen
  • Amazon to retire Prime Now, allows 2-hour deliveries on main app
    New Delhi, May 22 (IANS): Amazon has announced to shut down its standalone Prime Now delivery app, and the two-hour delivery options will now be available on its main app and website. The company said that in India, Japan and Singapore, it has already moved the Prime Now experience onto Amazon and retired the Prime Now app and website. "In the US, we began making two-hour delivery from Amazon Fresh and Whole Foods Market available on Amazon in 2019. Globally, we'll move
  • Epic vs Apple: Judge grills Tim Cook as he offers mild replies
    San Francisco, May 22 (IANS): Apple CEO Tim Cook faced some harsh questions during the ongoing Epic Games-Apple trial over the removal of Fortnite game from the App Store, but he offered a mild, "carefully tended ignorance" that left several key questions unanswered. The company called CEO Tim Cook to conclude three weeks of testimony in Epic vs Apple legal battle on Friday and Judge Yvonne Gonzalez Rogers engaged Cook in a surprisingly tense exchange over Apple's busi
  • Hero MotoCorp to resume production at all plants from Monday
    New Delhi, May 22 (IANS): Two-wheeler major Hero MotoCorp is gearing up towards a gradual resumption of operations by starting production at all its manufacturing plants in India from Monday, May 24th. Besides, the company had already commenced single shift production at three of its plants at Gurugram and Dharuhera in Haryana and at Haridwar in Uttarakhand from Monday, May 17. "The other plants of Hero MotoCorp in India - Neemrana in Rajasthan, Halol in Gujarat and Chittoor
  • No change in petrol and diesel prices on Saturday
    New Delhi, May 22 (IANS): A day after the hike, oil marketing companies (OMCs) on Saturday kept pump price of petrol and diesel unchanged across the country, taking a pause with global oil which is showing signs of softening amidst possibility of Iranian oil hitting the markets soon. Accordingly, petrol continues to be priced at Friday's level of Rs 93.04 per litre and diesel Rs 83.80 per litre in Delhi. Across the country as well the fuel prices remained static on Saturday b
  • India's consumer confidence worsens in May
    New Delhi, May 22 (IANS): The consumer confidence in India has further weakened in May amid the severe Covid crisis and the resultant lockdowns across states. The monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI) for India, in May, has shown a sharp drop of 6.3 percentage points, over April 2021, amid Covid-19 fears. The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, has plunged across all sub-indices. The PCSI Employment Confiden
  • NTPC Mouda's river rejuvenation proj aids 150+ villages tide water crisis
    New Delhi, May 22 (IANS): Country's largest power generator NTPC's project in Maharashtra's Mouda has helped over 150 villages in and around its operational area to overcome water crisis through ground water rejuvenation. As part of its CSR initiative, NTPC Mouda is supporting the Jalyukta Shivar Yojana project which has successfully managed to turn Mouda into a water-surplus tehsil. This project was carried out by the Maharashtra wing of Art of Living along with aid
  • Koo meets new intermediary guidelines ahead of May 25 deadline
    Mumbai, May 22 (IANS): Homegrown micro-blogging platform Koo on Saturday said it has met the compliance requirements of the new IT (Intermediary Guidelines) Rules 2021 ahead of its May 25 deadline set by the Ministry of Electronics and Information Technology (MeitY). The ministry has asked social media platform to abide by the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 else face action. Koo said it has close to 6 million downloads w