Business and Economy

Monday, June 24, 2019Jio adds most subscribers in April; Airtel, VIL lose

New Delhi, June 24 (IANS) Continuing its growth trend, Reliance Jio added around 80.82 lakh subscribers in April, showed data released by the Telecom Regulatory Authority of India (TRAI) on Monday. Jio's subscriber base stood at around 31.48 crore at the end of April, it said.

State-run BSNL was the only other gainer with over 2.28 lakh new subscribers taking its total tally to around 11.59 cr


Monday, June 24, 2019Sensex, Nifty end lower, steel companies fall over growth worries

Mumbai, June 24 (IANS) Dragged by steel companies like Jindal Steel, JSW Steel and Tata Steel, the Indian equity indices ended lower for the second consecutive day on Monday.

Investors usually shed metal stocks over growth concerns. Analysts noted that metal companies have come under renewed pressure ahead of the crucial US-China trade meet later this week. Investors fear that the tension betw


Monday, June 24, 2019Credit crunch hits common investors: Congress

New Delhi, June 24 (IANS) Ahead of the Union Budget on July 5, the Congress here on Monday said common investors were suffering due to the lack of investment in the economy.

Congress spokesperson Randeep Singh Surjewala in a tweet said, "a year after the Lehman moment for economy, wealth of more than Rs 1 trillion of 11 firms has been eroded as ordinary investors suffer".

The liquidity cris


Monday, June 24, 2019Tech Mahindra introduces AI-based Humanoid in Noida

Lucknow, June 24 (IANS) Tech Mahindra Ltd on Monday introduced K2, the first Human Resource (HR) Humanoid, for its Noida Special Economic Zone Campus in Uttar Pradesh, after unveiling it in its Hyderabad campus earlier this month.

K2 would take over the routine HR transactions to provide constant assistance to the HR team in creating an enhanced employee experience, the company said in a state


Monday, June 24, 2019Not regulation but Facebook's dream to become WeChat may kill it

New Delhi, June 24 (IANS) Facebook which accounts for 75 per cent of global ad spend that is likely to hit $110 billion by 2020 is nowhere near an immediate demise and government regulations would only strengthen the social networking giant in the short term, a new Forrester research has forecast.

However, Facebook's push to become China's WeChat -- more than a messaging app and is full of cap


Monday, June 24, 2019Microsoft taking bold steps to empower startups: Anant Maheshwari

Bengaluru, June 24 (IANS) Armed with a cutting-edge technology platform, a well-established partner organisation and an expansion of M12 venture fund, Microsoft is ready to help Indian startups across the spectrum embrace the next phase of growth, Anant Maheshwari, President, Microsoft India, said here on Monday.

India, which saw a tremendous growth in the startup space in the last couple of y


Monday, June 24, 2019Samsung launches 2 new tablets in India

Gurugram, June 24 (IANS) Strengthening its product portfolio in the stagnant tablet segment in India, Samsung on Monday launched Galaxy Tab S5e and Galaxy Tab A 10.1 which start at Rs 35,999 and Rs 14,999, respectively.

The Wi-Fi-only variant of Galaxy Tab S5e is priced at Rs 35,999, while the Wi-Fi +LTE variant is priced at Rs 39,999.

Galaxy Tab A 10.1's Wi-Fi variant is priced at Rs 14,9


Monday, June 24, 2019RBI Deputy Governor Viral Acharya resigns

Mumbai, June 24 (IANS) Reserve Bank of India's (RBI) Deputy Governor Viral Acharya has quit six months before the end of his term, sources said on Monday.

Acharya is the third top official to quit RBI before completing their term. The first being former RBI Governor Raghuram Rajan and second being former Governor Urjit Patel.

Sources said that Acharya, who joined as the RBI Deputy Governor


Monday, June 24, 2019Metro Man resigns as Advisor to Lucknow metro

Lucknow, June 24 (IANS) The Principal Advisor to Lucknow Metro Rail Corporation (LMRC) Padma Vibhushan E. Sreedharan has submitted his resignation citing health issues, an official said on Monday.

The LMRC has forwarded the letter to the state government for its approval.

Sreedharan, popularly known as the Metro Man, has years of experience in handling mega Metro projects in the country.


Monday, June 24, 2019Flipkart co-founder sells part stake to Walmart for 531 cr

Bengaluru, June 24 (IANS) Binny Bansal, the co-founder of India's leading e-tailer Flipkart, sold around 54 lakh of his equity shares valued at $76.4 million (Rs 531 crore) to world's retail giant Walmart's Luxembourg entity FIT Holdings SARL, business intelligence platform said on Monday.

"Walmart increased its equity holding in Flipkart by buying 5,39,912 shares of its erstwhile co-


Sunday, June 23, 2019Moderate outlook for manufacturing in Q1: FICCI survey

New Delhi, June 23 (IANS) The outlook for the country's manufacturing sector in the April-June quarter of the current fiscal has moderated as only 41 per cent of respondents in a FICCI survey expected higher output growth during the ongoing quarter compared to 54 per cent in the January-March quarter, as per the industry chamber report released on Sunday.

The report said that the percentage of


Sunday, June 23, 2019Kerala to object SLBC's recovery procedures on farmer loans

Thiruvananthapuram, June 23 (IANS) An advertisement from the State Level Banker's Committee (SLBC) that appeared in leading dailies in Kerala on Sunday has upset the government as it stated that recovery procedures on farmers loans will go ahead on defaulters.

Speaking to the media here, State Finance Minister Thomas Issac said this issue will be taken up strongly at the upcoming SLBC meeting


Sunday, June 23, 2019Fiscal Deficit at 0.75% of GDP in April: DoE figures

New Delhi, June 23 (IANS) Fiscal deficit for the month of April was at Rs 1,57,048 crore which is 22 per cent of the budgeted estimate for the year 2019-20, slightly lower than what it was in the same period a year ago and as a percentage to the GDP, the fiscal deficit is at 0.75 per cent, Department of Expenditure (DoE) figures showed.

These are the fiscal situation of the Central government


Sunday, June 23, 2019US-China trade talks, Budget to provide markets the next big trigger

Mumbai, June 23 (IANS) Sensex and Nifty showed no decisive trend since the results of the general elections last month. Several factors like a sharp rise in oil prices, forecast of a weak monsoon and concern of slowdown have held back investors from participating.

In the next fortnight markets is set to witness two major triggers. The US-China trade talks at the G-20 in Osaka, Japan, next week


Sunday, June 23, 2019Indian PC gaming ecosystem set to explode: HP Inc

New Delhi, June 23 : Gaming has lately come of age in India - breaking the social tolerance barrier - and once you experience it on smartphones, you will crave a bigger screen experience with top-of-the-line specifications.

The game changer, however, will be to create an entirely new ecosystem along with nurturing developers to create more local games - and not those Chinese ones - and the PC


Saturday, June 22, 2019Infosys using automation to transform clients' business: Nilekani

Bengaluru, June 22 (IANS) Renewing legacy systems but discarding legacy mindsets, India's global software major Infosys is relying on automation for digital transformation of their clients' business, Chairman Nandan Nilekani said on Saturday.

"We are relying on extreme automation to free up our people to focus more on solving client challenges, mentoring their teams and investing in learning f


Saturday, June 22, 2019Facebook's digital coin frightening: Co-founder

San Francisco, June 22 (IANS) Facebook co-founder Chris Hughes, who initiated the call to break up the social networking giant, has termed the new digital currency Libra "frightening".

In a series of tweets, Hughes said Libra has a long way to go before being successful, but in theory, it's "brilliant and frightening".

"At the start of the week, I thought the problem would be that it would


Saturday, June 22, 2019Kenyan textile unit revived with $29.95m credit from India

New Delhi, June 22 (IANS) Kenyan President Uhuru Kenyatta on Friday inaugurated the his country's Rivatex East Africa Ltd revamped with Indian help, the High Commission of India in Nairobi Rahul Chhabra said on Saturday.

The once sick textile factory has been modernised with a concessional loan of $29.95 million from India (disbursed through EXIM Bank). And in less than three years of signing


Saturday, June 22, 2019US stocks close lower amid mixed data

New York, June 22 (IANS) US stocks ended slightly lower as investors digested a batch of mixed data.

The Dow Jones Industrial Average on Friday was down 34.04 points, or 0.13 per cent, to 26,719.13. The S&P 500 shed 3.72 points, or 0.13 per cent, to 2,950.46, Xinhua news agency reported.

The Nasdaq Composite Index fell 19.63 points, or 0.24 per cent, to 8,031.71.

Seven of the 11 primary


Saturday, June 22, 2019Only 39% of land needed for bullet train project acquired

New Delhi, June 22: Prime Minister Narendra Modi's ambitious Mumbai-Ahmedabad bullet train project is missing on its deadline of land acquisition as till date only 39 per cent of the 1,380 hectares of land required has been acquired.

A senior National High Speed Rail Corporation Ltd. (NHSRCL) official requesting anonymity told IANS: "Till date, we have acquired about 39 per cent of the land.


Friday, June 21, 2019Sensex ends 407 points lower, Brent crude up over 1.5%

Mumbai, June 21 (IANS) Delayed monsoon and a sharp surge in crude oil prices over two straight sessions pushed the Sensex to finish over 400 points lower on Friday. Index heavyweights like HDFC and Reliance Industries contributed most to the fall.

Crude oil rose another 1.5 per cent on fears of a US military attack on Iran that
would disrupt flows from the Middle East, which accounts for over


Friday, June 21, 2019United suspends Newark-Mumbai flight amid Iran-US tension

New Delhi, June 21 (IANS) The geo-political tension in the Middle East seems to be taking heavy toll on international flights to and from India.

In the wake of ongoing tensions between US and Iran, American carrier United Airlines has suspended its flight between New York/Newark and Mumbai from Friday evening.

"(The flight) UA48 (New York/Newark-Mumbai) has been cancelled," the airline said


Friday, June 21, 2019Samsung launching 3 new tablets in stagnant Indian market

New Delhi, June 21 (IANS) Samsung which gained 51 per cent market share (by value) and 50 per cent market share (by volume) in the first quarter of 2019 in the Indian tablet market is set to launch three new tablets early next week, a top company executive said on Friday.

In 2018, Samsung had 50 per cent market share (by value) and 49 per cent market share (by volume), according to German rese


Friday, June 21, 2019GSP withdrawal won't have major impact on India: Goyal

New Delhi, June 21 (IANS) Commerce Minister Piyush Goyal on Friday reiterated that the withdrawal of generalized system of preferences (GSP) by the US will not have significant impact on India.

The GSP allowed Indian traders and exporters duty-free access to supply certain items such as imitation jewellery and leather articles (other than footwear) into the US market.

Replying to a questio


Friday, June 21, 2019Coolpad gets new India CEO to boost smartphone business

New Delhi, June 21 (IANS) Chinese smartphone maker Coolpad on Friday announced the appointment of Fisher Yuan as its new India CEO.

Yuan replaces Syed Tajuddin, who quit earlier this year.

Coolpad, which entered the Indian market in 2008, launched three Mega smartphones in December last year and followed it up with launched of its Cool 3 smartphone here in February.

The new India CEO ha


Friday, June 21, 2019TeamViewer now installed on 2bn devices globally

New Delhi, June 21 (IANS) Germany-based remote connectivity solutions provider TeamViewer on Friday announced its software has been installed on more than two billion devices globally -- representing 2 billion uniquely generated IDs.

A TeamViewer ID is unique for every individual device and can be used to contact that device from any other instance of TeamViewer.

Every device's unique ID i


Friday, June 21, 2019Fire affects Delhi Metro, services hit

New Delhi, June 21 (IANS) A fire in a furniture market crippled a part of Magenta Line of Delhi Metro and then slowed down services on the busier Yellow Line, affecting thousands during morning rush hour.

A massive fire broke out at the furniture market near Kalindi Kunj Metro station, only one stop away from Noida in Uttar Pradesh, on the Magenta Line, forcing the Delhi Fire Services to deplo


Friday, June 21, 2019Apple iOS 13: Siri to soon talk in desi English accent

New Delhi, June 21 (IANS) As Apple iOS 13 is set to reach India this fall, the new operating system on iPhones is loaded with India-specific features like desi English accent for virtual assistant Siri that would now speak to you in a more natural and expressive way -- in both male and female voices.

The users will be able to access content drawn from Indian languages in a seamless conversatio


Thursday, June 20, 2019Clear indication of economy losing traction: RBI Governor

Mumbai, June 20 (IANS) Reserve Bank of India Governor Shaktikanta Das had, in the last Monetary Policy Committee (MPC) meeting, said that there is clear evidence of economic activity losing traction while giving the rationale for a rate cut.

"Overall, there is clear evidence of economic activity losing traction, with the GDP growth in Q4:2018-19 slowing down to 5.8 per cent," he said, as per t


Thursday, June 20, 2019Fed opens gate for rate cut, sends Sensex soaring

Mumbai, June 20 (IANS) In line with Asian financial markets the Sensex and Nifty closed with significant gains on Thursday after the US Federal Reserve indicated rate cuts in future, considered positive for developing markets.

The US central bank left interest rates unchanged but opened the door for a possible rate cut in the future.

The S&P BSE Sensex jumped 488.89 points higher to finish


Thursday, June 20, 2019Huawei positive about future after winning key 5G deals

New Delhi, June 20 (IANS) Caught in the crossfire of global geopolitics, Huawei on Thursday said things have started looking up for the company with the signing of key 5G deals in the UK and Russia and added that it is "positive" about the future.

The world's second-biggest smartphone seller, which shipped over 205 million units in 2018, also clarified that WhatsApp, Facebook, Instagram and al


Thursday, June 20, 2019Oil prices surge after Iran downs US drone

Mumbai, June 20 (IANS) Oil prices surged more than 2 per cent on Thursday over fears of a possible conflict between Iran and the US as Tehran's Islamic Revolution Guards Corps (IRGC) said that it had shot down an "intruding" US spy drone.

Brent crude, the global oil benchmark, was up by 2.23 per cent at $63.20 a barrel.

In the statement issued earlier on Thursday, the IRGC said the US-made


Thursday, June 20, 2019Sudden spike in Jet Airways stocks, gains 66%

Mumbai, June 20 (IANS) Grounded Jet Airways stocks saw a sudden spike on Thursday as its advanced 66 per cent from its intra-day low to hit a high of Rs 44.70 per share during early trade on the BSE.

At 12.46 p.m., the Jet Airways stock was trading at Rs 41.75 a share, or at 26.13 per cent higher than its previous close on Wednesday.

"A bounce back was due but since the on ground condition


Thursday, June 20, 2019Paytm to dole out incentives for merchants at kirana stores

New Delhi, June 20 (IANS) In a move to make deeper inroads in the country, digital payments company Paytm on Thursday announced to push cashback from peer-to-peer UPI transactions to offline merchant payments at retail kirana stores.

The company is targeting to partner with over 20 million retail kirana stores, enabling them to accept all digital payment modes including UPI, wallet and cards.


Thursday, June 20, 2019US Fed leaves interest rates unchanged

Washington, June 20 (IANS) The US Federal Reserve has left interest rates unchanged as officials weighed mixed signals on the health of the US economy and the impact of trade tensions.

The Federal Open Market Committee, the Fed's policy-making committee, decided to maintain the target range for the federal funds rate at 2.25 per cent to 2.5 per cent, the Fed said in a statement on Wednesday af


Thursday, June 20, 2019Sensex rises by 102.24 pts


Mumbai, Jun 20: BSE Sensex on Thursday rose by 102.24 points at 39,214.98 in the opening trade on brisk buying in , Realty, Power, Oil &Gas, Telecom Auto and Consumer durable stocks.

The Nifty of National Stock Exchange (NSE) too advanced by 21.20 points to trade at 11,712.65.

The sensex registered intra day high and low at 39,306.63 and 38,993.78 respectively.

The NSE registered intra d


Wednesday, June 19, 2019Realme aims at 12-15% share in smart phone market

Kolkata, June 19 (IANS) China-based smart phone maker Realme, which is concentrating on off-line sales along with its focus on online sales in India, is aiming at achieving 12-15 per cent market share by end of this year, an official said on Wednesday.

"Our market share was 7.25 per cent in the last quarter (January-March). Our aspiration is to achieve 12-15 per cent market share by end of thi


Wednesday, June 19, 2019Data usage per smartphone highest in India: Ericsson

New Delhi, June 19 (IANS) With the availability of attractive data plans and higher video consumption among young users, monthly data usage per smartphone in India rose to 9.8 gigabytes (GB) at the end of 2018, the highest in the world, according to a Ericsson report on Wednesday.

Monthly data usage per smartphone would grow at 11 per cent to reach 18 GB by 2024 from 9.8 GB in 2018, said the E


Wednesday, June 19, 2019Sensex ends with mild gains dispite firm global cues

Mumbai, June 19 (IANS) Domestic woes weighed on investor sentiments as the Sensex closed with minor gain on Wednesday, despite signs of easing in trade tension between the US and China.

US President Donald Trump on Tuesday said he had a "very good telephone conversation" with President Xi Jinping of China, adding that they will be having an extended meeting next week at the G-20 in Japan.



Wednesday, June 19, 2019Assocham suggests tax sops for senior citizens

New Delhi, June 19 (IANS) Industry body Assocham has advocated tax measures to benefit senior citizens in the Union Budget, to be presented on July 5 by Finance Minister Nirmala Sitharaman.

The Associated Chambers of Commerce and Industry of India (Assocham) in its budget memorandum has suggested increase in minimum tax exemption limit for senior citizens (above 60 years) to Rs 7.5 lakh from R


Wednesday, June 19, 2019Google Street powers AI tool to monitor road infra

Sydney, June 19 (IANS) By tapping into Google Street View images, researchers have developed a new programme using artificial intelligence (AI) to monitor the stop and give way (yield) signs needing replacement or repair.

The fully-automated system is based on AI-powered object detection to identify street signs in the freely available images.

Published in the journal of Computers, Environm


Wednesday, June 19, 2019After Bangladesh, Tripura supplying power to Nepal

Agartala, June 19 (IANS) After Bangladesh, Tripura is supplying 40 MW of electricity to Nepal, Deputy Chief Minister Jishnu Dev Varma said here on Wednesday.

"We have been supplying 40 MW of electricity to Nepal since April. As Tripura has surplus electricity, we are exporting power to Nepal besides Bangladesh," Dev Varma, who also holds the power portfolio, told the media.

Tripura had sta


Wednesday, June 19, 2019Over 200 services make Paytm India's only super app

New Delhi, June 19 (IANS) Digital payments leader Paytm provides over 200 services after the launch of its gaming platform, PaytmFirst Games.

Riding on the success of the network effect it has created in the online and offline domain, the company is now building a variety of services to enhance engagement and drive repeat transactions from its large consumer base.

Paytm confirmed that it p