Business - The Purbottar

20 Jun

Petrol, diesel prices raised again

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Petrol price was increased on Saturday by 51 paise per litre and diesel by 61 paise a litre in Delhi, taking the cumulative increase in rates to Rs 5.88 and Rs 6.50 respectively in two weeks in the national capital. Petrol will now cost Rs 78.88 for a litre and diesel Rs 77.67 per litre from Saturday after they were raised for the 14th day in a row. Oil marketing companies have been adjusting retail rates in line with costs after an 82-day break from daily rate revision amidst the coronavirus pendemic. These firms restarted revising prices on June 7.

19 Jun

ICICI Lombard General Insurance

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ICICI Bank said on Friday it offloaded ICICI Lombard General Insurance Company shares worth Rs 2,250 crore to further strengthen its balance sheet. The 1.8 crore shares sold on Friday were of a face value of Rs 10 each, representing a 3.96 per cent stake in ICICI Lombard General Insurance. After the transaction, ICICI Bank's stake in ICICI Lombard General Insurance Company decreased to 51.9 per cent, from 55.86 per cent at the end of March 2020. Shares in ICICI Lombard General Insurance Company declined to as low as Rs 1,250.10 apiece on the BSE on Friday, marking a fall of 2.07 per cent compared…

19 Jun

Mukesh Ambani Wins Half of 2020 Deals in Global Telecom

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Billionaire Mukesh Ambani's Jio Platforms Ltd. has attracted more than half the $30 billion investment into telecom companies globally this year, on bets the wireless and digital services firm will disrupt India's massive consumer market. Ten firms including Facebook Inc., General Atlantic, Silver Lake Partners and KKR & Co. have poured a total $15.2 billion into Jio, pending regulatory clearances, Bloomberg data show. Saudi Arabia's sovereign wealth fund was the latest to invest, according to a statement from Jio on Thursday. The deals have helped Mr Ambani, Asia's richest man, make his flagship Reliance Industries Ltd. net debt free ahead…

18 Jun

Ford to offer hands-free driving in 2021, six years after Tesla

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Ford Motor Co said on Thursday that it will offer hands-free driving on its new Mustang Mach-E fall 2021, six years after Tesla Inc and four years after General Motors Co introduced similar systems. The system, called Active Drive Assist, will be offered on several Ford models, most notably the Mustang Mach-E, an all-electric crossover vehicle that goes on sale later this year and is targeted at the Tesla Model Y arket. Ford said US buyers can order the Mustang Mach-E this fall with the Active Driver Assist hardware package, which includes extra radar sensors and a driver-facing camera, but the software…

18 Jun

All-New 5th Generation Honda City

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Honda Cars India Limited released the details of its All-New 5th Generation Honda City, ahead of its launch in July 2020. The much-awaited All-New Honda City has been conceptualized to carry forward its legacy, deliver supremacy and exceed the previous benchmark by offering a superior value proposition to its customers. Honda City is among the most popular sedans in the country and is synonymous with Honda brand since the company entered the Indian market with the launch of 1st generation Honda City. The 5th generation Honda City embodies supremacy in its every detail, ranging from its styling, performance, space, comfort,…

18 Jun

Fuel prices hit new high, petrol hiked by 53 paise, diesel by 64 paise for 12th consecutive day

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For the 12th consecutive day, state-run oil marketing companies (OMCs) has increased the price of fuel on Thursday. The price of petrol is increased by 53 paise a litre while that of diesel by 64 paise a litre. Petrol and diesel will now cost Rs 77.81/litre and Rs 76.43/litre respectively in Delhi. Notably, oil marketing companies have been adjusting retail rates in line with costs after an 82 day break from rate revision amidst the Covid-19 pandemic. These firms on June 7 restarted revising prices in line with costs.

17 Jun

Jio-Facebook Deal Under Antitrust Review by Competition Commission of India

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India's antitrust watchdog is reviewing Facebook's purchase of a 10 percent stake in Reliance Industries Ltd's digital assets, a deal that would give the US giant another foothold in one of the world's fastest growing Internet markets. The Competition Commission of India looks to prevent misuse of data in all the deals it assesses, Chairman Ashok Kumar Gupta said in an email interview, declining to comment further on the Facebook-Jio transation panding examination. The regulator is also considering whether new parameters should be included in its assessment criteria; currently some mergers and acquisitions escape the threshold for scrutiny even if potential…

17 Jun

Mercedes-Benz GLS 2020 launched in India

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New Delhi: Luxury car manufacturer Mercedes-Benz launched the GLS 2020 in India on Wednesday. The new Mercedes-Benz GLS 400 d 4MATIC and GLS 450 4MATIC are both priced at Rs 99.90 lakh (all prices are ex-showroom, India, except Kerala), the company said in a statement. The interiors of the new GLS combine the comfort of a Mercedes-Benz luxury saloon with progressive detailing of an SUV. The new GLS has a considerably longer wheelbase over its predecessor (3135 mm, an increase of 60 mm), offering more space (87 mm), especially in the second seat row, which can furthermore be adjusted fore…

17 Jun

Samsung Galaxy A21s with hole-punch camera, 5,000mAh battery launched in India

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Samsung Galaxy A21s has finally launched in India. The latest mid-range offering from the company is just a mild upgrade over the recently launched Galaxy A21. The handset comes with a quad-camera setup at the back, a massive 5,000mAh battery, hole-punch design upfront and more. The smartphone was recently launched in the UK and it has now finally made its way to the Indian shores. Samsung Galaxy A21s is launched in two variants. The price for the 4GB+64GB model is set at Rs. 16,499 whereas the 6GB+64GB variant will be available at Rs. 18,499. The smartphone will be available in…

17 Jun

Commuters urge government to provide relief as fuel prices continue to rise

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The rates of fuel have been increased again in the national capital on Wednesday causing more troubles for the commuters. With the hike in fuel prices, the petrol prices stand at Rs 77.28/litre (increase by Rs 0.55), and the diesel prices stand at Rs 75.79/litre (increase by Rs 0.69) in Delhi, according to a price notification of state oil marketing companies. Even a one rupee increase has an effect on us. The government should not increase prices like this, they should try to stop this hike as and when they can. Another customer, Naresh, at the same pump said that…