Business News
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13 Mar 2018
IndiaPNB Fraud Fallout: RBI discontinues LoUs/LoCs issuance for trade credits
Learning from the multi-crore PNB scam, involving jewelers Nirav Modi and Mehul Choksi, the Reserve Bank of India has decided to discontinue issuance of LoUs (letters of undertaking) and LoCs (letters of comfort) as trade credits for imports into the country.
13 Mar 2018
Donald TrumpTrump blocks Broadcom's $117bn bid for Qualcomm; cites security concerns
US President Donald Trump has ordered the Singapore-based chipmaker Broadcom to abandon its $117 billion bid to take over rival chipmaker Qualcomm, blocking what would have been the biggest technology deal ever in history.
13 Mar 2018
State Bank of India (SBI)SBI reduces charges on non-maintenance of minimum balance
The State Bank of India on Tuesday reduced its charges on non-maintenance of an average monthly balance (AMB) in a savings account by up to 75%, effective 1 April.
13 Mar 2018
Bharti AirtelSensex cautious on weak global cues; TCS cracks 5%
Despite positive macroeconomic data and the appreciating rupee, the BSE Sensex turned choppy on tepid cues from overseas market.
13 Mar 2018
GoogleGoogle and Apple are competing to acquire promising AI start-ups
Artificial Intelligence (AI) is gradually coming of age and consistently improving to find new uses - from smartphones to self-driving cars, health care to business solutions, you name it.
12 Mar 2018
Supreme Court Of India'You cheated home-buyers': SC mulls auctioning Unitech's unencumbered assets
The SC has asked for details of embattled realty major Unitech Limited's unencumbered assets, including personal assets of MD Sanjay Chandra, so they could be auctioned off to repay home buyers.
12 Mar 2018
Bharti AirtelAirtel launches VoLTE service in Kolkata
India's largest telecommunications service provider Bharti Airtel on Monday announced the launch of its VoLTE services in Kolkata.
12 Mar 2018
UberAn anatomy of Uber's $10.7bn spending spree since its inception
According to a Bloomberg analysis, Uber Technologies, since its inception in 2009, has spent $10.7 billion of the $17.3 billion it raised from investors.
10 Mar 2018
IndiaRBI fines Airtel bank Rs. 5 crore for violating eKYC-norms
India's apex bank, The Reserve Bank of India (RBI) slapped a penalty of Rs. 5 crore on Sunil Mittal owned-Airtel Payments Bank Limited for violating eKYC norms.
10 Mar 2018
IndiaSpiceJet enters whopping Rs. 81,000cr-deal with France's Safran for aircraft-engines
No-frills India airline SpiceJet has inked a $12.5bn (Rs. 81,000 crore) deal with French major Safran Group for CFM aircraft engines; it's one of the biggest-ever aviation sector deals.
10 Mar 2018
XTwitter looks to expand blue-tick verification to all 'human' users
In a bid to weed out robots and fake accounts on its platform, Twitter is reportedly considering to soon open 'blue tick' verification process for all users who can prove their identity.
10 Mar 2018
IndiaPassport details made mandatory for Rs. 50cr+ loans
Following several high profile cases of economic offenders leaving the country, the government has made it mandatory for borrowers looking for loans above Rs. 50cr to submit their passport details to banks.
10 Mar 2018
IndiaMarketing lessons we can all take from condom-maker, Durex
If there is any one brand that is winning hearts through advertising, it is Durex.
10 Mar 2018
InsuranceMotor vehicle third-party insurance premiums to get cheaper
Vehicle owners might be in for some good news as a proposal to lower premiums for the mandatory motor vehicle third-party (TP) insurance cover has been put into place.
10 Mar 2018
iPhoneAmazon could beat Apple to become the most valuable company
Propelled by the company's fast revenue growth, Amazon's stock has recorded a surge of 83 per cent over the past year, helping the e-commerce giant reach a $752 billion market capitalization.
09 Mar 2018
IndiaUber signs Virat Kohli as India brand ambassador
Uber has signed on celebrity cricketer Virat Kohli as its brand ambassador in India, the first time it has appointed one in Asia Pacific.
09 Mar 2018
IndiaAirbus to deliver 1 aircraft per week over 10 years
European aerospace major Airbus expects to deliver one aircraft per week on an average to Indian carriers over the next ten years.
09 Mar 2018
Tata Consultancy Services (TCS)TCS ranked the fastest growing IT services brand in 2018
Leading global IT services, consulting and business solutions organization, Tata Consultancy Services, has been named as the fastest growing IT services brand in the world in an assessment done by world's leading brand valuation firm, Brand Finance.
09 Mar 2018
IndiaGovernment wants Twitter misuse to be under check before elections
The Indian government has asked Twitter to address the growing problem of social media misuse, especially ahead of the 2019 Lok Sabha polls in the country.
09 Mar 2018
IndiaPaytm being biggest payment network on UPI is false: PhonePe
e-Commerce website Flipkart's mobile payments arm PhonePe has alleged that Paytm's recent claim of being the biggest payment network in terms of the number of UPI transactions is false.
09 Mar 2018
Hyundai Motor CompanyHyundai recalls 1.55 lakh Sonata in US over airbag issues
Hyundai Motor Co. is recalling nearly 1,55,000 Sonata cars in the US because of some issue in the airbags.
09 Mar 2018
XTwitter appoints distinguished engineer Parag Agrawal as CTO
Distinguished engineer Parag Agrawal, IIT-Bombay alumnus, has been appointed the new Chief Technology Officer (CTO) of Twitter.
09 Mar 2018
IndiaXiaomi to enter US smartphone market as early as 2018
After its remarkable success in India and the expansion into Western Europe, Xiaomi eyes the US market as it gears for an IPO to raise $10 billion or more in Hong Kong, later this year.
08 Mar 2018
IndiaNo passport, can't return: Mehul Choksi tells CBI
Repeating what Nirav Modi submitted to investigating agencies, his uncle Mehul Choksi, Gitanjali Gems chairman and an accused in the Rs. 12,650cr PNB scam, has refused to return to India citing revocation of passport, among others.
08 Mar 2018
Alibaba GroupAR start-up Magic Leap raises $461 million from Saudi government
Florida-based augmented reality (AR) startup Magic Leap has raised $461 million in the second phase of its series D funding round.
08 Mar 2018
IndiaAmerican e-commerce company DesiClik all set to enter India
DesiClik, the largest US-based vertical e-commerce marketplace specializing in Indian products, is all set to enter the Indian market through strategic partnership.
08 Mar 2018
JapanCoca-Cola to soon roll-out its first alcoholic drink in Japan
In a major breakaway from over 130 years of tradition, Coca-Cola will soon launch its first alcoholic drink, but exclusively for Japan.
09 Mar 2018
Bharti AirtelSensex rebounds 274 points, Nifty above 10,200-mark, seeing opening gains
Snapping their six-day losing streak, stocks staged a strong comeback in early trade today, with BSE Sensex rebounding by 274 points and Nifty recapturing the 10,200-mark on fresh buying by domestic institutional investors.
08 Mar 2018
UberFormer Uber CEO Travis Kalanick launches venture fund 10100
Former Uber CEO and co-founder Travis Kalanick is launching a new investment fund called 10100 (pronounced as ten-one-hundred).
08 Mar 2018
XiaomiXiaomi stops taking Cash-on-Delivery-orders for Redmi Note5 Pro: Here's why
Chinese smartphone company Xiaomi launched Redmi Note 5 and Note 5 Pro last month that have become a huge hit with the Indian market.
07 Mar 2018
IndiaSamsung plans to launch India-focused smartphones "to counter growing competition"
In an attempt to quell the competition, Samsung is planning to launch smartphones that are India-focused and across various segments in the country's price-sensitive phone market, for the remaining part of the year.
07 Mar 2018
MumbaiTech-driven entertainment business will create jobs, money: Suresh Prabhu
Union Minister Suresh Prabhu today said entertainment is one of the fastest growing businesses, and the sector driven by technology will create jobs, money, and promote economic activities.
07 Mar 2018
IndiaJeff Bezos tops global rich list; Mukesh Ambani richest Indian
Reliance Industries Chairman Mukesh Ambani became the richest Indian for the 11th year in a row while his net worth soared to $40.1 billion.
07 Mar 2018
Bharti AirtelAirtel, Huawei conduct 5G network trial; achieve throughput of 3Gbps
Huawei, along with Bharti Airtel, recently tested 5G network trial.
07 Mar 2018
IndiaAmazon offering Apple products at discounted prices until March 12
e-Commerce giant Amazon has kicked off its Apple Fest sale in India to offer various Apple products like iPhones, iPads, MacBooks, and Apple Watches at discounted prices.
07 Mar 2018
IndiaPNB scam: CBI arrests Gitanjali VP, "brain behind the conspiracy"
Gitanjali Group vice-president Vipul Chitalia, who had escaped India along with chairman Mehul Choksi, was nabbed from the Mumbai airport yesterday morning, as soon as he landed from Bangkok.
07 Mar 2018
ForbesJeff Bezos overtakes Bill Gates to become world's richest man
Amazon CEO Jeff Bezos has overtaken Microsoft's Bill Gates to become the richest man in the world.
07 Mar 2018
San FranciscoWhich are the highest-paying tech jobs right now?
The technology sector is experiencing massive growth, opening its doors to many professionals. We all know the tech industry offers some of the highest-paying jobs.
07 Mar 2018
IndiaRolls Royce Phantom VIII launched in North India
Ten days after launching the "most advanced luxury car" in India, Rolls Royce has now brought the eighth-generation Phantom to the North!
05 Mar 2018
IndiaPNB-scam: Anti-fraud agency summons ICICI's Chanda Kochhar, Axis' Shikha Sharma
The Rs. 12,650cr scam by Nirav Modi and his uncle Mehul Choksi in connivance with PNB employees might be the undoing of many other banks too.
