Indian stock markets saw the biggest absolute decline (in terms of index points) today, with the benchmark BSE Sensex declining 1624 points and the Nifty down 491 points, or about 6%. The sell-off was triggered by global capital shift away from equities, which have been going up more or less uninterrupted for nearly five years. […]
In the midst of debate on the impact of slowdown in the Chinese economy on rest of the world, India’s engineering exports have started witnessing a negative fallout with a drop of 36 per cent in export of non-ferrous metals to China in June, 2015, an analysis by the EEPC India has shown. Exports of […]
Spats over prices are an inescapable phenomenon in the broadcasting industry and by the looks of it Sony and Hathway Cable and Datacom are gearing up for yet another battle. Hathway said Sony, via its distributor MSM Media, has been demanding exorbitant prices for its channels for letting it renew its distribution agreement. “The Subscription […]
SpiceJet is offering 1 lakh seats at fares as less as Rs 799 plus taxes on certain short haul routes, such as Delhi-Chandigarh, Mumbai-Goa, Bengaluru-Kochi, Madurai-Chennai, Jammu-Srinagar and Kolkata-Agartala. On other routes, fares will go up to Rs 2,699 excluding taxes. In practice, a Rs 799 fare will imply a final figure of around Rs […]
It would be safe to say that this is a landmark that Bajaj Auto – the former undisputed king of the Indian scooter market did not anticipate. Honda Activa, the highest selling scooter in India, has crossed the milestone of 1 crore units sold. Yes, that’s about 1 for every 125 Indians. In fact, in […]
The Cochin International Airport has become the world’s first airport to generate all the power it needs from solar technology. Bosch Limited was the implementation partner that helped the airport set up a 12 megawatt solar station in the premises. The unit will produce 50,000 units (kWh) of power per day. Constructed on a land […]
Royal Enfield, maker of the iconic Bullet bikes in India, said it has set up its first operating direct distribution subsidiary outside India, in North America. Setting up a direct distribution company in Milwaukee, Wisconsin is expected to boost sales of Enfield models in the US and Canada. It will also launch a fully-branded retail […]
NDTV has finally announced that it has raised an unspecified amount of money by selling stake in its NDTV Gadgets portal. The investments have been made after valuing the unit at $50 mln (around Rs 325 cr). Interestingly, that amount is close to almost half of the value of the parent firm’s shares — which […]
IDBI Federal Life Insurance, a joint-venture of IDBI Bank, India’s premier development and commercial bank, Federal Bank, one of India’s leading private sector banks and Ageas, a multinational insurance giant based out of Europe, has reported a growth of 84% in Total Premium at the end of the Q1 FY16. “The growth of the company […]
Putting an end to much speculation, Zee Media Corporation — the news arm of the Zee Group — today announced its intention to enter into English News Broadcasting with the appointment of Rohit Gandhi as Editor-in-Chief – English News Broadcast and Related Content. Zee had been expected to make this announcement for almost a year. […]
Reliance Communications Ltd reported disappointing results for the June quarter on a steep decline in voice usage, but the company’s voice pricing is now more or less at parity with that of Idea Cellular. However, in the absence of data growth, the company was not able to report impressive numbers for the first quarter. Net […]
SpiceJet, the country’s favourite low-cost carrier, has launched new flights in its winter schedule effective from 25th October, 2015. This has come just days after it expanded its network by adding three new flights and 137 new connections. SpiceJet has introduced daily direct flights between Goa and Ahmedabad. The airline has also increased flights between […]
Honda Motorcycle and Scooter India said it was recalling all CBR 150R and CBR 250R brand of premium motorcycles manufactured between July 2014 to June 2015 and sold in India. The recall is to examine and if necessary, replace, the bikes’ starter relay switch. This is being done as part of a global effort, and […]
Essel Group Middle East (EGME) has acquired the Bada Potash Exploration License, located in Danakil Depression, Eritrea via its subsidiary Interu Mining and Trading. Earlier this year, EGME had also acquired oil reserves in the sub-Saharan region. Essel Group is the promoter of Zee Entertainment, and is headed by Subhash Chandra Goel. The group’s primary […]
Reliance Communications is fast emerging as the biggest beneficiary of the approval of spectrum sharing guidelines, though Vodafone and Bharti Airtel — which obtained 3G spectrum earlier this year — could also benefit big time. According to a report in the Economic Times, Reliance Jio and Reliance Communications will take advantage of the new rules […]
The Coca-Cola Company today announced James Quincey as President and Chief Operating Officer (COO). Ahmet Bozer, Executive Vice President and President of Coca-Cola International is going to Retire after Distinguished 25-Year Career. As President and COO, Quincey will have responsibility for all of the Company’s operating units worldwide. He will report directly to Chairman and […]
World’s largest air cooler company, Symphony Limited has agreed to acquire Munters Keruilai Air Treatment Equipment (Guangdong), China, the Indian company said. “MKE is a market leading brand in China, producing energy-saving and environment-friendly evaporative air coolers under brand Keruilai,” said Symphony, a household name in India. MKE came into existence in 2011 as a […]
Real estate player House of Hiranandani is offering to pay the rent of its customers who book a flat at its high-end Egattur project in Chennai for 18 months after booking. In addition, the customer will have to pay only 25% upfront at the time of booking, it said. “The remaining 75% can be paid […]
Nestle welcomed the decision by the Bombay High Court to lift the ban on Maggi noodles imposed by Food Safety and Standards Authority of India and said it expects to see the product back on shelves soon. “(We) will comply with the order to undertake fresh tests,” Nestle said on the order. “It is Nestlé […]
HCL Technologies, a leading global IT services provider, today announced that it has been appointed as the strategic IT partner to SAI Global. The contract is expected to save SAI Global around $27 million, HCL said. It would imply that the contract is worth a few million dollars, though HCL did not reveal the financial […]
