Business

No plan to print currency notes to tide over crisis: FM
26 Jul

No plan to print currency notes to tide over crisis: FM

editor0 CommentsBusiness, India,
The government has no plan to print currency notes to tide over the current economic crisis triggered by the outbreak of COVID-19 pandemic, Finance Minister Nirmala Sitharaman informed Parliament on Monday. To a question on whether there is any plan to print currency to tide over the crisis, the Finance Minister said, “No Sir”. Many economists and experts have suggested the government to resort to printing more currency notes to support the economy ravaged by the spread of COVID-19, and protect jobs. India’s real Gross Domestic Product (GDP) is estimated to have contracted by 7.3 per cent during 2020-21, Sitharaman…
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Rs 1,060 cr spend on Chennai-Bengaluru Industrial Corridor project
26 Jul

Rs 1,060 cr spend on Chennai-Bengaluru Industrial Corridor project

editor0 CommentsBusiness, India,
A total of Rs1,060.02 crore has been spent during the last three fiscal years for the Chennai-Bengaluru Industrial Corridor project, the government told the Rajya Sabha. Answering a question raised by MDMK General Secretary Vaiko, the Minister of State for Commerce and Industry Som Parkash said the Cabinet Committee on Economic Affairs (CCEA) on 30th December, 2020, approved the project cost of Krishnapatnam node (Andhra Pradesh) and Tumakuru node (Karnataka) as Rs 2,139.44 crore and Rs 1,701.81 crore respectively. The timelines for the construction of trunk infrastructure in these two nodes is 36-48 months, the government said.
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No revision in petrol, diesel prices
26 Jul

No revision in petrol, diesel prices

editor0 CommentsBusiness, India,
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. However, they stopped short of reducing the retail price of petrol and diesel as more time will be required to study oil price movement before any downward revision. Already, crude has firmed a bit for last few days and this could prevent price cut by OMCs. With no change in prices on Monday, petrol continues to be sold in the national capital…
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YouTube hits 10 bn Play Store download milestone
24 Jul

YouTube hits 10 bn Play Store download milestone

editor0 CommentsBusiness, Entertainment, International
The Google-owned YouTube app for Android users has surpassed a whopping 10 billion downloads on the Google Play Store. According to 9To5Google, video streaming has exploded in popularity over the past decade with improving global internet speed, introduction of 4G devices and increasing access to smartphones/tablets. As the largest and most well-known streaming platform globally, it was always likely that YouTube would become the first “proper” user-facing Android app to hit such a download milestone on the Play Store, it added. Given that the app comes pre-installed on almost all devices, it is marginally bolstered and could even include some…
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Phones of ex-CBI chief Alok Verma allegedly listed for snooping using spyware
23 Jul

Phones of ex-CBI chief Alok Verma allegedly listed for snooping using spyware

editor0 CommentsBusiness, Crime, India
After Alok Verma was removed as the director of the Central Bureau of Investigation (CBI), eight phones belonging to him and his family members were allegedly put on the list of devices targeted for snooping using Pegasus spyware by an unknown Indian agency. According to The Wire, eight phones belonging to Verma's family, including three of him along with those of his wife, daughter and son-in-law were put in the list of persons of interest targeted by the Israeli snooping malware. Besides Verman, phones of his second-in-command Special Director Rakesh Asthana, against whom he had registered a corruption case on October 21,…
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The income tax department raids the offices of Dainik Bhaskar and Bharat Samachar
23 Jul

The income tax department raids the offices of Dainik Bhaskar and Bharat Samachar

editor0 CommentsBusiness, India,
Media group Dainik Bhaskar and an Uttar Pradesh-based news channel were raided today by Income Tax officials who launched searches in their offices across the country around 5.30 am. Both have been accused of tax evasion and floating shell companies Raids took place at over 30 locations of Dainik Bhaskar in Delhi, Madhya Pradesh, Rajasthan, Gujarat and Maharashtra. The homes and offices of the group's promoters were also raided. Uttar Pradesh TV channel Bharat Samachar offices in Lucknow and the home of its editor were also searched. The raids were based on "conclusive evidence of tax fraud" by the channel,…
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Fuel prices remain unchanged for 5th day
22 Jul

Fuel prices remain unchanged for 5th day

editor0 CommentsBusiness, India
Oil marketing companies (OMC) continued the pause on fuel price revision for the fifth consecutive day, the longest period in weeks, as global development on oil production and rising US inventories softened crude and product prices. Accordingly, in the national capital, petrol continued to be sold at Rs 101.84 per litre, while diesel remained unchanged at Rs 89.87 a litre on Thursday. The pump price of fuel has been static since Sunday. It rose on Saturday with petrol being revised upwards by 30 paisa per litre while diesel prices remained unchanged. One of the main reasons for pause in fuel…
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Wipro investing 7,454 cr for business transformation
21 Jul

Wipro investing 7,454 cr for business transformation

editor0 CommentsBusiness, India
Wipro on Tuesday said it would invest $1 billion (Rs 7,454 crore) over the next 3 years to expand cloud services for business transformation of its clients worldwide. “We will invest $1 billion over the next 3 years in cloud services, technologies, acquisitions and partnerships to simplify and accelerate business operations of our clients,” said the software major in a statement. The global giant also unveiled FullStride cloud services to enhances its offerings and talent to its clients. “As the cloud opportunity accelerates, FullStride services bring together our full portfolio of capabilities, offerings and talent to our clients across verticals,”…
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Maruti crosses 50 lakh cumulative sales milestone in rural markets of India
21 Jul

Maruti crosses 50 lakh cumulative sales milestone in rural markets of India

editor0 CommentsBusiness, India
The country’s largest carmaker Maruti Suzuki India on Wednesday said it has crossed the 50 lakh cumulative sales milestone in rural markets of India. With over 1,700 customised outlets in rural parts of the country, nearly 40 per cent of the total MSIL sales come from rural markets today, Maruti Suzuki India Ltd (MSIL) said in a statement. The company’s total sales in the April-June period of this fiscal stood at 3,53,614 units. In fiscal 2020-21, it had sold a total of 14,57,861 units, down from 15,63,297 units sold in 2019-20. Commenting on the feat, MSIL Senior Executive Director (Marketing…
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Fuel price cut relief may come soon as global oil softens
21 Jul

Fuel price cut relief may come soon as global oil softens

editor0 CommentsBusiness, India
Consumer’s bearing the brunt of rising fuel prices for more than a couple of months may expect some relief over the next few days as Oil marketing companies (OMC) have begun evaluating the fall in global oil prices and its resultant impact on fuel prices in the country. The benchmark Brent crude that had risen to $77 a barrel late last month has shed more than 10 per cent in the last fortnight to reach a level of $68.85 a barrel now. If the price line remains below $70 a barrel for a few more days, petrol and diesel prices…
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