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  • Grab deal freed up a lot of capital for investments in India: Uber COO
    on April 20, 2018 at 6:24 pm

    MUMBAI: Uber COO Barney Harford said that unlike markets such as China, Russia and Southeast Asia where the company exited operations to local competitors, it is in a position of “strength” in India and it will not do deals for minority stake.The statement from Uber second most senior executive comes as there is a strong buzz of consolidation with local rival Ola since both companies are now backed by investor Softbank.Harford said the company would double down its investments in […]

  • Volvo may assemble hybrid cars in India
    on April 20, 2018 at 6:12 pm

    STOCKHOLM: Swedish luxury car maker Volvo Car is planning to assemble hybrid vehicles in India to stay ahead of German luxury car makers in the cleaner emission technology in India, especially in the future when such standards become stricter.Volvo, which last year set up a factory in Bengaluru, expects most of its vehicles to be manufactured locally in two to three years, which may include a few hybrid variants as well.Charles Frump, MD of Volvo Car India, told ET the company has set a vision […]

  • Eyeing Indian TV market, this Chinese firm plans to go Jio way
    on April 20, 2018 at 5:19 pm

    Xiaomi expects to disrupt India’s TV industry the way Reliance Jio disrupted the telecom space, the company’s founder Lei Jun said. Speaking to ET, Jun said that Indian consumers should get 32-inch TVs for as low as Rs. 10,000 but for that to happen, the government needs to lower taxes, a suggestion he would like to give to PM Narendra Modi if he gets a chance to meet him. Xiaomi is looking to also make its TVs in India sometime in 2018, and will look to set up factories for the […]

  • Trump rails against high oil prices, OPEC pushes back
    on April 20, 2018 at 3:58 pm

    WASHINGTON/DUBAI: U.S. President Donald Trump accused OPEC on Friday of "artificially" boosting oil prices after a year-plus pact that has slashed global crude inventories, drawing rebukes from oil-producing countries as prices dipped following his remarks."Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea. Oil prices are artificially Very High! No good and will not be accepted!" Trump wrote on Twitter.Looks like OPEC is at it […]

  • Who's losing the trade war between the two major economies? Neither US, nor China
    on April 20, 2018 at 2:56 pm

    WASHINGTON: A major escalation in the trade dispute between the US and China could derail the global recovery and put "many jobs at risk," World Trade Organization chief Roberto Azevedo said Friday.And most of the impact of an all-out trade war would hit poor countries the hardest, he said in a statement to the International Monetary Fund's spring meetings.It is difficult to measure the effects "of a major escalation, but clearly they could be serious," he said."A breakdown in trade relations […]

  • F&O: Fall in VIX indicates limited downside, consolidative moves
    on April 20, 2018 at 12:58 pm

    By Chandan TapariaThe Nifty remained in a broader range and witnessed recovery from 10,520 zones to close on a flattish note. The index formed a Doji candle with long lower shadow, which indicates that decline was being bought into, as it got stuck in range ahead of the expiry week.The index has been making higher highs higher lows on a weekly chart, which suggests continuation of uptrend till any immediate support is not broken decisively. Now, till it remains above 10,500-10,480 zones, it has […]

  • Tech view: Nifty forms a Doji candle, upside looks capped
    on April 20, 2018 at 11:23 am

    NEW DELHI: The Nifty50 on Friday settled flat to form an indecisive 'Doji' candle on the daily charts. Even as the index ended up making a bullish candle for the fourth consecutive time on the weekly scale, the upside looks capped for now, unless the index comes out of its rangebound mode.“The index appears to have formed an Inside Bar kind of formation in three sessions, as price action of last two sessions was confined to the range of bearish candle formed on Wednesday. Unless the […]

  • Behind TCS's race to $100 billion market cap: A radical reinvention
    on April 20, 2018 at 9:57 am

    Just when software services exporters are facing rough times due to technological and political challenges, India's information technology (IT) bellwether Tata Consultancy Services or TCS is edging closer to becoming the country's first company to touch the $100 billion market capitalisation mark. On Friday, the TCS stock climbed as much as 6.55 per cent to hit a lifetime high of Rs 3,399.90 apiece after the company posted 5.71 per cent quarter-on-quarter and 4.48 per cent year-on-year rise in […]

  • Fraud after fraud, increasing bad loans, all make a case for a strong banking watchdog  
    on April 20, 2018 at 6:54 am

    By Ila PatnaikTo many economists, the solution to India’s bad-loan crisis appears as obvious as the problem: Privatize state-owned banks, which have racked up billions more in soured loans and performed much worse than their private-sector counterparts. Yet, unless the government first strengthens its ability to supervise all banks, public and private, selling some of them off will be slim guarantee against another crisis.One can understand the urge to privatize. A long-mooted bankruptcy […]

  • 12,000 employees of bankrupt Alok Industries to lose jobs
    on April 20, 2018 at 2:58 am

    MUMBAI: With Alok Industries heading into likely liquidation, about 12,000 permanent employees of the company are set to lose jobs in what could be the biggest labour casualty since the implementation of the bankruptcy code.These employees earned an average salary of Rs 1.45 lakh a year, show data compiled by Corporate Professionals that used the financials reported by the company for 2016-17. Alok Industries was subsequently referred for insolvency proceedings.“While considering the […]

  • Govt amends PMLA rules to extend Aadhaar linking date for all financial accounts till after SC order
    on April 1, 2018 at 7:35 am

    The finance ministry has amended the Prevention of Money Laundering (Maintenance of Records) Rules, 2005, via a issued notification yesterday, extending the date for submitting Aadhaar by existing account holders to financial entities till a date to be notified after the final judgement in the petition challenging Aadhaar pending before the Supreme Court. This follows the interim order, dated 13th March, 2018 of the SC in the Aadhaar case, which extended the last date for linking Aadhaar with […]

  • MahaRERA slaps penalty on 8 Mumbai Builders for violation of rules
    on March 13, 2018 at 5:28 pm

    MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has slapped penalty of Rs 2 lakh to Rs 10 lakh on 8 builders in Mumbai for advertising real estate project without mentioning the authority’s website address and advertising a non-registered project. MahaRERA has taken this action on Suo-Motu basis.Of the 8 realty developers, builder Tridhatu Morya has been fined Rs 10 lakh for advertising a non-registered project. Rest of the 7 builders including Sumit Group, The Wadhwa […]

  • Meet the Amit Shah of China: How a professor-turned-politician powers Xi Jinping
    on March 12, 2018 at 9:02 am

    Now that a constitutional amendment abolishes presidential term limits, it has become possible for China's president Xi Jinping to rule as long as he lives. China's shift from a collective rule indicates how it prizes Xi who has articulated the ambition of China becoming the world leader by displacing the US. Xi has turned China from an inward nation to a country focused on winning the world. Behind Xi's ideological offensive is brainy professor-turned-politician Wang Huning who has guided two […]

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