Business

Petrol, diesel prices may rise again from next week

NEW DELHI: Consumers might see fuel prices going up again as oil companies are bracing up to pass the rise in global crude and product prices on retail sales.

Bull-run persists in precious metals; gold above Rs 56k/10 gm

MUMBAI:Amid the global uncertainty, investment demand and supply concerns, touching fresh record levels has become the new normal for gold and silver prices. Continuing with the bull run, gold futures on Friday touched a new all-time high of Rs 56,191 per 10 gram.

Two-wheeler volumes could contract by 16-18% in FY2021: ICRA

NEW DELHI:Two-wheeler industry unit sales are now likely to decline between 16 and 18 per cent to around 17 million units in FY2021 on the back of the overall macro-economic scenario, ICRA Ratings said on Thursday.

Andar Bahar getting popular on Online Casinos

 Andar Bahar is one of the most popular games in India, and it’s now making its way to European online casinos as well! The sheer simplicity of this beautiful card game is the main reason why Andar Bahar casino games are being implemented everywhere at the moment. It’s true that most of the European online casinos who has this game, is already being catered towards Indian players. We still strongly believe, that Andar Bahar will make its way to the hearts of hardcore european casino players as well. For us, blackjack and roulette are the same than Andar Bahar is for Indians - in terms of popularity at least.

Retire old thermal power plants to reduce discoms' debt: IEEFA

NEW DELHI: Reduce financial and operational inefficiencies across India's power distribution sector, which as of May had accumulated massive overdue payment liabilities of Rs 1,16,340 crore to generation companies, by retiring old and expensive thermal power plants, a report by IEEFA said on Thursday.

Global economy may lose over $100 bn of remittances in 2020

NEW DELHI: As the world goes through an unprecedented recession amid the pandemic, global remittances may fall by $108.

ICICI Bank cuts lending rates by 10 bps across tenors

MUMBAI: ICICI Bank has reduced its marginal cost of funds-based lending rates (MCLR) by 10 basis points across tenors with effect from August 1.

Google helps people identify Black-owned businesses

SAN FRANCISCO: Google has started adding an icon in Google Maps and Search to help people identify Black-owned businesses.

The move, which comes amid a surge in online searches for Black-owned businesses, is part of the company's commitment to support underrepresented entrepreneurs.

Microsoft confirms talks to acquire TikTok by September 15

SAN FRANCISCO: Microsoft has officially confirmed it is in talks to acquire the operations of video-sharing platform TikTok in the US, Canada, Australia and New Zealand markets following a conversation between Microsoft CEO Satya Nadella and President Donald Trump.

Gold futures surge as international prices hit new high

MUMBAI: Bull run in domestic gold futures continued on Monday as prices in the international market surged to new highs.

BSNL launches 'Bharat Air Fibre' service in Maharashtra

NEW DELHI: State-run BSNL on Sunday launched 'Bharat Air Fibre' services at Akola in Maharashtra allowing the residents of Akola and Washim districts to get wireless internet connections on demand.

SpiceJet brings back 269 Indians from Amsterdam

NEW DELHI: SpiceJet operated its maiden long-haul charter flight bringing back home 269 Indians from Amsterdam to Bengaluru and Hyderabad on Sunday.

Petrol, diesel prices unchanged on Monday

NEW DELHI: After hefty Rs 8.38 per litre cut in diesel price in the national capital on Friday, the oil marketing companies have gone on a pause mode keeping auto fuel prices unchanged on Monday, the third successive day when auto fuel prices have not been revised.

Hyundai Motor India clocks 41,300 sales in July

NEW DELHI: Automobile major Hyundai Motor India reported cumulative sales of 41,300 units during July 2020.

"July'20 domestic sales volume is 98 per cent of July'19 domestic sales volume," the company said in a statement.

Auto fuel prices remain unchanged on Saturday

NEW DELHI: A day after a hefty Rs 8.38 per litre cut in diesel prices in the national capital due to VAT reduction, the oil marketing companies again went on a pause mode to keep auto fuel prices unchanged across the country on Saturday.

Maruti Suzuki's total sales slips 1.1% in July

NEW DELHI: Automobile major Maruti Suzuki on Saturday reported a marginal year-on-year decline of 1.1 per cent in total sales during July 2020.

Accordingly, the company's total off-take declined to 108,064 units from 109,264 units sold during July 2019.

The total sales include 100,000 units off-take in the domestic market and 1,307 units to other OEM.

Pandemic-hit KLM airlines announces massive layoffs

THE HAGUE: The pandemic-stricken Dutch airlines, KLM has announced that it would cut 4,500 to 5,000 positions.

Apple surpasses Saudi Aramco as world's most valuable company

SAN FRANCISCO: Riding on strong quarter results despite the pandemic, Apple has surpassed Saudi Aramco to become the worlds most valuable company with a market cap of $1.

Flipkart announces more benefits for 6 lakh Samarth sellers
BENGALURU: Flipkart on Friday announced more benefits for over 6 lakh sellers who are artisans, weavers, craftsmen and owners of other small and medium enterprises (MSMEs) from the underserved communities in the country.
Amazon aims to hire 'many more' people in India

SAN FRANCISCO: Amazon is planning to get more sellers on board as the company focuses on digitising a lot of micro, small and medium-sized businesses in India and hiring many more people, a top company executive has said.

Centre in talks with RBI for loan restructuring

NEW DELHI: As the economy goes through a severe slowdown, which is likely to impact businesses further, Finance Minister Nirmala Sitharaman on Friday said that the government's focus is now on loan restructuring and talks are underway with the Reserve Bank of India (RBI) on this.

Indian Oil Corp's Q1 consolidated net profit falls 35%

NEW DELHI: Indian Oil Corp (IOC) on Friday reported a 35.

HP appoints Ketan Patel to lead HP Greater India biz

NEW DELHI: PC and printer major HP on Friday appointed Ketan Patel as the Managing Director of HP Greater India.

Diesel run ends in Delhi, now Rs 8.38/l cheaper

NEW DELHI: Consumers in Delhi have finally heaved a sigh of relief as the price of diesel fell by Rs 8.

IndiGo's Board to further deliberate on raising of funds

NEW DELHI: Inter Globe Aviation, which runs airline major IndiGo, has said its Board of Directors have decided to further deliberate on the matter relating to fund raising.

Indian-American group to spend $10mn in 2020 election

WASHINGTON: An Indian-American political group has planned to spend $10 million for the 2020 elections aimed at helping more members of the community win political office from Congress down to school boards, a media report said.

Relief for fuel consumers as diesel finally gets cheaper in Delhi

NEW DELHI: In a major relief to fuel consumers in the capital, the Delhi government on Thursday reduced VAT on diesel from 30 per cent to 16.

Amazon CEO can't promise workers don't see third party seller data

SAN FRANCISCO: Amazon founder and CEO Jeff Bezos has said that he cannot guarantee the company employees have not accessed third party seller data.

3 in every 4 smartphones shipped in India were Chinese in Q2

NEW DELHI: Despite the supply chain issues and curtailed domestic production owing to lockdowns, almost three in four smartphones shipped in India during the June quarter were Chinese, a new report said on Thursday.

Sensex up 280 points; healthcare, IT stocks rise

MUMBAI: The key Indian equity indices traded on a positive note on Thursday with the BSE Sensex rising over 280 points.

Samsung reports solid earnings in Q2 on strong chip business

SEOUL: Samsung on Thursday reported strong second quarter earnings on the back of robust demand for memory chips and appliances, as well as a one-off gain at its display panel business.

Petrol, diesel prices unchanged for fourth day in a row

NEW DELHI: With global oil market stable for the past few days, consumers in India have been spared of a price rise of auto fuels for the fourth consecutive day.

Consumer demand for gold plunges, prices rally on ETF inflow: WGC

MUMBAI: The Covid-19 pandemic impacted the consumer sectors of the gold market in the first half of 2020, with total demand dropping by 6 per cent on a year-on-year basis to 2,076 tonne, according to the World Gold Council's latest 'Gold Demand Trends' report.

Pichai takes flak for opposition to US govt by Google employees

NEW YORK: Google CEO has taken flak from US lawmakers for the opposition to a defence contract by company employees and claims of links to China, with one Congressman even questioning his commitment to the US and its values.

Covid impact: IndiGo's net loss at Rs 2,844.3 cr in Q1FY21

MUMBAI: InterGlobe Aviation which runs airline major under the brand name of IndiGo on Wednesday posted its highest ever quarterly net loss at Rs 2,844.

Maruti Suzuki posts Rs 249.4 cr net loss in Q1FY21
MUMBAI: Covid-19 pandemic dented the financials of automobile major Maruti Suzuki India, which suffered a net loss of Rs 249.
K'taka shuffles IAS officers, labour secy transferred again

BENGALURU: Amid the Covid crisis, the Karnataka government shuffled a dozen senior IAS officers and transferred M. Maheshwar Rao as secretary in the labour department for the third time in three months.

"Additional Chief Secretary Rajkumar Khatri of the agriculture department will hold concurrent charge of the labour department, relieving Rao," said a personnel section official on Wednesday.

Realme begins 100% TV production at Rs 300 crore facility in India

NEW DELHI/NOIDA: In an impetus to the Make in India initiative, smartphone brand Realme on Wednesday said it has started 100 per cent TV production at its Greater Noida facility in the country.

Nestle India's Apr-Jun net profit up 11% on higher sales

NEW DELHI: Nestle India on Tuesday reported an 11.15 per cent rise in its net profit for the quarter ended June on a year-on-year basis on the back of rise in sales and lower taxes.

Its profit after tax for the April-June quarter of 2020 stood at Rs 486.6 crore, against Rs 437.8crore recorded in the corresponding period of last year.

US stocks fall as traders eye earnings, Covid-19 relief package

NEW YORK: Wall Street's major indexes dropped on Tuesday, as investors digested a slew of disappointing earnings reports and eyed the debate over a US Covid-19 relief package.

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