Thursday, October 28, 2021
Business

Amazon to now tell 3rd-party sellers which products will be popular

SAN FRANCISCO:  After facing criticism for allegedly copying popular products and manipulating search results to boost its own brands, especially in India, Amazon has now announced a new tool that will help third-party sellers with detailed insights into what customers are searching for, clicking on, and buying, as well as sales history, pricing trends and more.

Fuel rates hiked again, petrol at Rs 106.19 a litre in Delhi

NEW DELHI: Petrol and diesel prices on Wednesday rallied to their highest ever levels across the country, as fuel rates were hiked again by 35 paise a litre after a two-day pause.

RBI extends dates for classification of bank credit to focused NBFCs

MUMBAI:  RBI has extended dates for the classification of bank credit to focused NBFCs as priority sector lending till March 31, 2022.

Reliance Retail to launch 7-Eleven convenience stores in India

MUMBAI: Reliance Retail Ventures Limited (RRVL), through its wholly owned subsidiary, 7-India Convenience Retail Limited, has entered into a master franchise agreement with 7-Eleven, Inc. (SEI) for the launch of 7-Eleven convenience stores in the country.

Centre's nod to Rs 100cr grant for TN medical devices park

CHENNAI:  With the Central government giving in-principle approval for setting up a medical devices park and providing Rs 100 crore grant, the Tamil Nadu government has decided to set it up in Oragadam in Kancheepuram district.

ZEEL to merge with Sony Pictures Networks India

MUMBAI:  Financially troubled Zee Entertainment Enterprises will merge with Sony Pictures Networks India (SPNI).

NDTV stock leaps amid Adani takeover speculation

NEW DELHI: Media company NDTVs shares are flying on the bourses amid speculation that the entity may be the target of Adani Group that is looking to enter the media business through acquisition.

Ola Electric sells scooters worth Rs 600cr in a day

 NEW DELHI:  Ola Electric on Thursday announced that it has sold e-scooters worth 600 core in a day, since Wednesday when the purchase window was opened.

Govt seeks Rs 8-10 lakh crore valuation for LIC

 NEW DELHI:  India is seeking a valuation of between Rs 8 trillion ($109 billion) and Rs 10 trillion for the state-backed Life Insurance Corporation in what's slated to be the nation's biggest initial public offering, Bloomberg reported.

Adidas launches first flagship store in India - The Home of Possibilities

NEW DELHI:  Leading sportswear giant - adidas unveiled its first flagship store in India. Located in the heart of the national capital - Connaught Place, 'The Home of Possibilities' store is a blend of multiple digital touch points, sustainability zone and embodies the future of retail experience for consumers.

RBI panel's report on digital lending likely this month

Mumbai: The working group formed by the Reserve Bank of India (RBI) to study the scope and prospects of digital lending is likely to submit its report by the end of August.

TASL to manufacture Boeing 737 fan cowls in Hyderabad

Hyderabad:Tata Advanced Systems Ltd (TASL) on Friday announced that has been awarded a contract for manufacturing and supply of the fan cowl for Boeing 737, of the legendary single aisle aircraft family, at its state of the art facility in Hyderabad.

IPO/FPO: SEBI eases lock-in norms for promoter shareholding

MUMBAI: The SEBI has decided to relax the lock-in requirements for promoter shareholding in terms of initial public offerings (IPO) and further public offerings (FPO).

Byju's to acquire e-learning platform Vedantu for $600-$700 mn

NEW DELHI: Continuing its buying spree in 2021, leading online learning platform Byju's is in advanced talks to acquire live online learning platform Vedantu for around $600-$700 million, reliable sources told IANS on Friday.

Growth Chasing: RBI retains rates, accommodative stance

MUMBAI: To continue with its growth supporting stance, the Reserve Bank of India retained its key short-term lending rates during the third monetary policy review of FY22.

Dwindling price, Covid hit tea industry in Assam badly: Industry body

Guwahati: The tea industry in Assam, which contributes roughly 55 per cent to India's total tea production, is struggling for survival due to prices falling below the cost of production (CoP) and much less production of crop due to the Covid-induced situation, leaders of North Eastern Tea Association (NETA) said on Wednesday.

With global crude fluctuating, OMCs to wait & watch on fuel

NEW DELHI: Oil marketing companies (OMC) continued to pause fuel price revision for the eighteenth consecutive day on Wednesday as wait and watch continues amidst fluctuating global crude prices.

Roll-out 'Flex-Fuel Vehicles' within a year, Gadkari to industry

NEW DELHI: Union Road Transport and Highways Minister Nitin Gadkari on Tuesday emphasised the need for a quick roll-out of 'Flex-Fuel Vehicles within a year's time.

IOB asks Union Bank to buy its stake in Malaysian bank

CHENNAI: Indian Overseas Bank (IOB) has asked the Union Bank of India to buy its 35 per cent holding in India International Bank, Malaysia, a top IOB official said on Tuesday.

IL&FS realises Rs 33 cr by selling its vehicles, furniture

MUMBAI: Crisis-ridden IL&FS has recovered around Rs 33.28 crore by selling assets, including vehicles, furniture, and electrical installations among others.

Hopes of faster economic rebound lift equities; Nifty crosses 16K-mark

MUMBAI:Hopes of a faster economic rebound along with estimates of less severe third Covid wave lifted India's equity indices to fresh intraday record highs during Tuesday's afternoon session.

GST revenue collection for July at over Rs 1.16 lakh cr

NEW DELHI:The gross GST revenue collected in the month of July 2021 was Rs 1,16,393 crore.

NHSRCL casts first full height pier for Bullet train project

NEW DELHI: The National High Speed Rail Corporation Limited (NHSRCL) on Saturday said it has cast the first full height pier on the 508-km Mumbai-Ahmedabad High Speed Rail (MAHSR) project, popularly known as the Bullet Train project.

NTPC Q1 net profit rises 27.35% to over Rs 3,000 cr

NEW DELHI: The country's largest power generator NTPC Ltd. has reported 27.35 per cent increase in its net profit during the first quarter of current fiscal on the back of higher generation and improved demand for power.

All 26 Airtel telecom circles show identical subscriber fall of 1.3% in May

NEW DELHI: It may be just coincidence or something more, but all the 26 telecom circles of Bharti Airtel showed identical fall in subscribers at 1.3 per cent in May over April this year.

India's eight core industries' June production up around 9%

NEW DELHI: Low base effect, along with easing of Covid 2.0 restrictions, boosted output of India's eight major industries during June 2021, on a year-on-year basis.

Income Tax conducts searches on Kanpur-based 'pan masala' group

NEW DELHI: The Income Tax Department has carried out a search action on over 30 premises, in three states, of a large pan masala manufacturing and real estate group based in Kanpur and Delhi, an official statement said on Friday.

'Favourable global outlook to accelerate India's export growth'

NEW DELHI:Favourable global trade outlook is expected to accelerate India's export growth, said India Ratings and Research (Ind-Ra).

Influx of JeM, LeT, Daesh giving Afghan war new regional dimensions: Af Prez

NEW DELHI: A massive influx of transnational terrorist networks, particularly Jaish-e-Mohammed (JeM) and Lashkar-e-Taiba (Let), along with influx of Daesh is giving the Afghan war new regional and international dimensions, Afghanistan President Ashraf Ghani has said.

Union Bank registers 255% growth in profit

NEW DELHI: Public sector lender Union Bank of India has reported a 254.93 per cent year-on-year growth in standalone net profit for the first quarter of financial year 2021-22, mirroring the trend set by several other PSBs also reporting higher profitability in the current year.

Sensex up 200 points; IT, metal stocks rise

MUMBAI:The key Indian equity indices traded in the green on Thursday morning with the BSE Sensex gaining over 200 points.

Asian cues, Fed meet keep markets subdued, auto stocks' dip

MUMBAI: Negative global cues, along with US Fed's rate setting meet, kept India's equities market subdued on Wednesday.

Hinduja group open to outside funding for E-vehicle company

CHENNAI: The Hinduja group's electric vehicle company Switch Mobility Ltd will roll out its electric (E) buses and light commercial vehicles (LCV) from the group's UK and Indian plants, said top group official.

Agriculture & construction equipment makers call for action on fake product trading

NEW DELHI:According to a FICCI Cascade report the Indian economy loses Rs 1.17 lakh crore due to smuggling & counterfeiting in five prominent sectors including Capital Goods (Machinery and Parts) and Consumer (Electronics) Durables. The goods sales from counterfeiting is expected to double up globally to Rs 119.7 lakh crore by 2022. India has been no exception to the menace

AI technologies set to rewrite the future of real estate sector

NEW DELHI: Technology-enabled real estate development is rewriting the future of the sector which has faced a huge downturn during the pandemic but is gradually showing slow but sure signs of recovery, leading industry experts said on Wednesday.

Sensex loses 400 points, Nifty below 15,650

MUMBAI:The Indian stock market traded in the red on Wednesday morning tracking weakness in global markets.

Sugarcane output per hectare rises in UP

LUCKNOW:Uttar Pradesh has scored another high with the sugarcane cultivation.

Cashify acquires UniShop to empower Indian mobile retailers

NEW DELHI: Re-commerce marketplace Cashify on Tuesday said it has acquired UniShop, an omnichannel retail solution platform, for an undisclosed sum. The new service line will be rebranded as PhoneShop to empower mobile retailers across the country.

Fuel consumers get relief, no revision in petrol, diesel prices

NEW DELHI:Oil marketing companies (OMC) continued to pause fuel price revision for the ninth consecutive day on Monday, the longest period in weeks, as global development on oil production and rising US inventories has softened crude and product prices.

Sensex inches higher to reclaim 53,000-mark amid choppy trade

MUMBAI: The Indian stock market traded on a choppy note on Monday morning with the BSE Sensex reclaiming the 53,000-mark.

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