While lashing out at e-commerce giant Amazon, economic affairs secretary Shaktikanta Das said in a tweet on Sunday that the company must stop “being flippant about Indian symbols and icons”, as images of flip-flops surfaced with Mahatma Gandhi’s picture on it for sale. Later, the top official clarified that he[Read More…]
The United Nations International Labour Organisation (ILO) released its 2017 World Employment and Social Outlook report yesterday. And as per reports unemployment in India is expected to hysterically increase between 2017 and 2018 pointing the stagnation in job creation in the country. The reports shows the economic growth trend of[Read More…]
CEO and Managing Director of Tata Consultancy Services (TCS) Natarajan Chandrasekaran, will be the new chairman of Tata Sons, the holding company that controls the $100 billion Tata conglomerate. Chandrasekaran will be the first non-Parsi chairman of Tata Sons. He will take charge from February 21, 2017. Chandrasekaran, 53, has[Read More…]
Domestic passenger vehicle sales declined by 1.36 per cent to 2,27,824 units in December 2016, from 2,30,959 units in December 2015. Domestic car sales were down 8.14 per cent at 1,58,617 units last month as against 1,72,671 units in the same month, according to data released by the Society of[Read More…]
India’s top e-commerce firm Flipkart on Monday appointed Kalyan Krishnamurthy as its new CEO, replacing co-founders Binny Bansal. Bansal has been given the position of Group CEO. Krishnamurthy associated with Flipkart in June 2016. He was intensely involved in the company’s revamping process. This was Krishnamurthy’s second shift with the[Read More…]
Former Union Finance Minister P Chidambaram on Saturday said demonetisation will further hit the economy with the country’s GDP growth being projected to slow down to 7.1 per cent. Attacking the NDA government over the scrapping of high value notes, the senior Congress leader said the statistics have ‘exposed’ its[Read More…]
According to a recent report released by the economists of the HDFC bank, GDP growth for the year 2017 to be close to 6.7% yr. However, there was a structural break caused by demonetization although there it will have no impact in the upcoming GDP. The new advance estimation might[Read More…]
Apple Inc has removed the New York Times (NYT.N) English- and Chinese-language news applications from its iTunes store in China. The decision was taken following the request from the local authorities, said the company on Thursday. The apps said to be removed on Dec. 23 are the latest Western services[Read More…]
Aiming to tap into the 51-million small and medium business (SMB) markets in India, Google CEO Sundar Pichai on Wednesday announced two initiatives ‘Digital Unlocked’ and ‘My Business Website’. “The internet and digital technology will be an engine of growth for the Indian economy. Today, anyone can become an entrepreneur,[Read More…]
S Padmanabhan was nominated as the chairman of Tata Power Co Ltd with an immediate effect according to the company’s articles of association, Tata Power said on Wednesday. Tata Power said in its statement to BSE, in terms of the company’s article of association, Tata Sons Ltd, as the promoter[Read More…]
Paytm Payments Bank Ltd, an entity majority owned by One97 Communication founder Vijay Shekhar Sharma on Tuesday received the final approval from the Reserve Bank of India to launch. Paytm is now expecting to finally roll out the payments bank within the next 30-60 days. Paytm, which is likely to[Read More…]
The eighth GST council meeting which begins on Tuesday in the national capital will be chaired by finance minister Arun Jaitley and comprise of all the state finance ministers. In its two day meeting, the council will meet representatives of six crucial sectors, including IT, telecom, banking and insurance, to[Read More…]
In a bid to enable more customers to use digital methods of bill payment, state-run BSNL is planning on leasing around 15000 point of sale machines. The telecommunications company sees digital transactions accounting for up to 40% of all bill payments by March 2017 – nearly double of current levels.[Read More…]
The Enforcement Directorate (ED) has detained a manager of a Kotak Bank branch in its money laundering probe in a criminal case of finding of nine alleged fake accounts with deposits worth Rs 34 crore after demonetization move. According to the officials, the agency detained the manager of the bank’s[Read More…]
Tata Sons send legal notice to Cyrus Mistry on Tuesday claiming he had passed confidential and sensitive information to his family controlled firms for use in a petition against theflagship holding company of the group. “As part of the petition, without there being any requirement to do so, the petitioners[Read More…]
A Redmond, Washington analyst thinks that Microsoft’s $26.2 billion acquisition of LinkenIn will push the tech giant to become the first company with a $1 trillion market value, reported GeekWire. Analyst Michael Markowski writes for Equities.com that Microsoft will reach that threshold before other big companies like Amazon, Google, Facebook[Read More…]
Following the “intolerance” remarks made by Aamir Khan at the Ramnath Goenka Excellence in Journalism Awards ceremony, BJP social media cell organised a campaign to pressurise e-commerce platform Snapdeal to remove Khan as its brand ambassador. The revelation has been made by a former volunteer, Sadhavi Khosla, of BJP social[Read More…]
President and Business head – Fixed Line of Reliance Jio, Vijay Jain has stepped down from the position, reports ET. Jain joins other top-level executives across functions, who have quit the 4G entrant in last few months “Jain was also involved in the rolling out of Wi-Fi networks for the[Read More…]
Nitin Soni, Director at Fitch Ratings has claimed that Reliance Jio Infocomm’s subscriber base may touch 100 million by March 2017 end. He also warned that the customer base may shrink if once the telecom operator starts charging its customers. “We think that Jio is adopting a very sound strategy[Read More…]
Independent director Nusli Wadia has been removed from the Tata Steel’s board on Thursday as about 91 per cent of shareholders present at Wednesday’s EGM, voted in favor of his dismissal. In a regulatory filing, the company said out of its total shares of 97.12 crore, 62.54 crore votes were[Read More…]
State Bank of India chairman Arundhati Bhattacharya on Thursday warned that given the ongoing cash crunch, it’s unlikely that restrictions on cash withdrawals from banks and ATMs will be lifted immediately. The Hindu reported Bhattarcharya as saying, “We have to see… if there is cash I will give it, if[Read More…]
Ousted Tata Sons chairman Cyrus Mistry on Monday announced his resignation from all listed Tata companies, according to a Times Now report. In a statement, Cyrus Mistry has said that he will take legal route against the Tatas. “My efforts were aimed at reforming the system, which may well be[Read More…]
The Bombay high court in an interim order directed Tata Sons to keep one seat of an independent director “vacant until further orders” in each of its companies on Friday. The court was hearing the case between Tata Sons and industrialist Nusli Wadia who serves as independent director. The directions[Read More…]
