At a time when the Indian automobile industry is strongly opposing lowering of import duty in the proposed India-European Union Free Trade Agreement, Tata Group chairman Ratan Tata has favoured cutting tariff on vehicles and components coming from overseas.
No-frills carrier AirAsia India on Monday offered rock-bottom fares, starting at as low as Rs 1,299 for domestic flights, as part of the parent AirAsia's global sale offer for a limited period.
United Bank of India on Friday said it had decided to bring down interest rates on domestic term deposits of various tenures by 25 to 50 basis points with effect from Saturday.
India should accelerate the pace of reduction of customs duty rather than merely carry on building up the foreign exchange reserves, according to Montek Singh Ahluwalia, former finance secretary and one of the authors of India's economic reforms.
US electronics major Advanced Micro Devices (AMD), which also has its offices in India, announced on Tuesday that it will cut 10 per cent of its global payroll or over 1,600 jobs, because of deteriorating business conditions.AMD, the second largest American chipmaker which has been facing problems largely because of a resurgent Intel, will begin reducing its workforce this month and the process is expected to be completed by the end of September, it said.
IMAGES from the IPL match played between Gujarat Titans and Lucknow Super Giants in Pune on Tuesday.
Taking head-on the private cellular operators, state-owned Mahanagar Telephone Nigam Ltd on Friday announced up to 60 per cent reduction in tariffs for cell-to-cell long distance calls.\n\n\n\n
RBI in talks with banks to fix charges at 0.5-1%.
The legendary batsman made his Test debut on March 6, 1971 against the West Indies, a series which India won. He then went on to become the first batsman to score 10,000 Test runs.
Just when it looked like Punjab were sneaking back into the game, Glenn Maxwell came to the party.
Seven of Bollywood's big stars (Akshay Kumar, Ranveer Singh, Ajay Devgn, Varun Dhawan, Saif Ali Khan, John Abraham and Shahid Kapoor), who had 10 movies released with a collective budget of Rs 1,100 crore since December, could rustle up only around a third of that money at the box office.
The Congress fielded Channi from two seats -- Chamkaur Sahib in Rupnagar and Bhadaur in Barnala, a move which showed how much the Congress was banking on him. He lost both, and the party received a drubbing from the AAP.
With the reduction, term deposits of 1-3 years will now fetch an interest rate of 5.5 per cent from the existing 6.9 per cent.
The bank said that it has retained interest rate on savings bank deposit at 3 per cent for customers with balances above Rs 100,000. Customers with SB balance up to Rs 100,000 will continue to get the rate of interest at 3.50 per cent despite cut in the repo rate by the RBI earlier this month.
Japanese organisers have decided to ban spectators from venues of the Olympics
The company recently received permission to launch GSM services within its existing license and is awaiting allocation of spectrum, the radio frequency that enables wireless communications, from the government. CDMA and GSM services cannot be operated on the same spectrum.
After poor response to last month's 2G spectrum sale, a ministerial panel on telecom on Friday decided to lower the base price by 30 per cent for radiowaves in 1800 Mhz band in four circles, which attracted no bidders, for fresh auction this fiscal.
Now, the commission will be between zero per cent to 0.5 per cent.
Pegs the current account deficit for the current fiscal at 3.5 per cent of the GDP.
The job cuts will affect almost a fifth of the bank's workforce.
Andre Russell's all-round brilliance kept Kolkata Knight Riders in contention for a play-off berth as they recorded a comprehensive 54- run victory over Sunrisers Hyderabad in a must-win IPL game.
The official broadcaster for the upcoming Commonwealth Games, Doordarshan, is understood to have cut its advertising revenue target by half to Rs 100 crore from the 12-day long event due to poor response from advertisers.
Earlier in May, Ford India announced that it had dropped its plans to make electric vehicles (EVs) in India, which it intended to export, under the production-linked incentive scheme (PLI). Ford was among 20 companies that had signed a Champion OEM Incentive Scheme under the PLI project with the government in February this year. The decision comes as a blow for the 4,000-odd employees at Ford India's Maraimalai Nagar plant near Chennai and in Sanand, Gujarat. In September last year, the company had announced that it would exit the India market, which it had entered in 1995 through an on-again, off-again joint venture with Mahindra & Mahindra (they split in 1998, signed a JV in 2019 and split again in December 2020), retailing petrol and diesel brands such as the EcoSport, Figo, Aspire, and Endeavour.
The revision in rate is for deposits of up to five years and will be effective from Sept 07, 2012.
Under pressure from shareholders, Citigroup is planning to shed thousands of jobs and focus outside North America for growth, according to a report on the website of New York Times.
In a moved aimed at bringing inflation under control, the government cut customs duty on 11 product categories, including portland cement, capital goods, project imports and raw materials, late Monday night.
The recommendation to slash duty was made by the Bharatiya Janata Party to ease retail prices of petrol and diesel.
The Bombay Stock Exchange (BSE) has reduced the membership deposit and fee requirements for new members in its cash and equity derivatives segments with immediate effect. The membership can now be obtained by paying a deposit of Rs 10 lakh instead of Rs 1 crore (Rs 10 million).
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
IT industry body Nasscom on Thursday said the sector continues to be a net hirer of skilled talent, and that the top 5 Indian IT companies are planning to add over 96,000 employees in 2021-22. The statement comes in the backdrop of a report by Bank of America that said domestic software firms are set to slash 3 million jobs by 2022 as automation gains pace across industries, especially in the tech space. "With the evolution of technology and increasing automation, the nature of traditional IT jobs and roles will evolve overall leading to creation of newer jobs. "The industry continues to be a net hirer of skilled talent, adding 1,38,000 people in FY2021," Nasscom said in a statement.
Noting that external risks to global growth has increased significantly now, the Crisil report quotes its parent S&P's forecast of a recession in the US and in the Eurozone, and a record low growth in China, which is seen crashing to 2.9 per cent now, almost half of what it had said on March 5 when it has pegged the same at 4.8 per cent.
With this lending rate reduction, the bank has lowered 40 bps so far this fiscal year in five successive rate cuts beginning April.
SBI home loans will now be available under two slabs -- under Rs 75 lakh (Rs 7.5 million) and above Rs 75 lakh.
Gulf carrier Emirates on Wednesday announced special fares for honeymooners from India, offering an up to 20 per cent discount on both business and economy class travel, to select destinations, including London and Paris.
Deepak Chahar was once again terrific with the ball for CSK as he took 4 for 29 from his four overs.
Passengers complained that they had to wait a long time for Ola and Uber cabs, and added that those were available at inflated rates.
Jemimah Rodrigues smashed a stylish 49 off 36 balls before the heavens opened up and force the abandonment of the first women's T20 International between India and Australia, in Gold Coast, on Thursday.
The Air India board on Wednesday approved up to 50 per cent cut in the productivity-linked incentives (PLIs) for the airline's officers and executives. "The board has approved a cut by up to 50 per cent in PLIs for officers and executives, depending upon the salaries they are drawing," an Air India spokesperson said.
