Business Archives - Eastern Mirror
Monday, March 18, 2024
image
Browing Category

Business

Samsung Display building production line for next-gen OLED

SEOUL — Samsung Display said on Sunday it has started building its new 8.6-generation IT organic light-emitting diode (OLED) production line, signalling a strategic move to solidify its leadership position in the global flat screen market. The comp...

10 Mar 2024

GAIL cuts CNG retail prices by INR 2.50/kg

NEW DELHI — Compressed Natural Gas (CNG) players like GAIL (India) Limited, its wholly owned subsidiary, GAIL Gas Limited and AG&P Pratham on Saturday announced a reduction of INR 2.50/kg in their retail prices. The price cut comes into effect ...

09 Mar 2024

27 Indian startups raise $308 million in funding this week

NEW DELHI — At least 27 startups in India raised about $307.8 million this week, which includes 17 early-stage and seven growth-stage companies. Nearly 32 early and growth-stage startups raised more than $384 million last week, startup news portal ...

09 Mar 2024

Trust the single biggest priority when it comes to AI — Salesforce India CEO

NEW DELHI, MARCH 9 (IANS) — As India acts tough on launching new artificial intelligence (AI) models in the country, trust is the single biggest priority to create safe and responsible large language models (LLMs) so that the data remains safe, acc...

09 Mar 2024

RBI, Bank Indonesia sign pact for bilateral transactions in local currencies

MUMBAI — The Reserve Bank of India (RBI) and the Bank Indonesia (BI) signed a memorandum of understanding (MoU) on Thursday for establishing a framework to promote the use of local currencies — the Indian Rupee (INR) and the Indonesian Rupiah...

07 Mar 2024

realme unveils industry-leading design with NARZO 70 Pro 5G

NEW DELHI — In the ever-evolving landscape of smartphone design, aesthetics and colour schemes have transitioned from mere embellishments to fundamental requirements. The intimate relationship we share with our devices, often spanning over a year, ...

07 Mar 2024

Small-cap index under performs Nifty this week amid warnings of froth

NEW DELHI — The 3.7 per cent decline in the small-cap index this week when Nifty appreciated by 0.5 per cent is a big underperformance, says V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services. Large-caps are outperforming mid ...

07 Mar 2024

SpiceJet resolves INR 413 dispute with Echelon Ireland Madison One Ltd

NEW DELHI — SpiceJet on Thursday announced the successful resolution of INR 413 crore dispute with Echelon Ireland Madison One Ltd. The airline said that the settlement with Echelon Ireland Madison One Ltd will result in savings of INR 398 crore fo...

07 Mar 2024

India’s growing stature in the global economy

NEW DELHI —The GDP forecast upgrade by Moody’s and India’s inclusion in the Bloomberg bond index have added to India’s growing importance in the global economy. Earlier this week, global ratings agency Moody’s raised India’s GDP g...

06 Mar 2024

RBI issues new order on credit cards to give customers more choice

MUMBAI — The RBI on Wednesday issued a directive barring credit card issuers (banks and non-banks) from entering into any arrangement or agreement with card networks such as American Express, MasterCard Asia, Diners Club and Rupay that restrain the...

06 Mar 2024

ACES to provide mobile infra services on underground Mumbai Metro 3 line

MUMBAI — The ACES India Pvt Ltd, a subsidiary of ACES Saudi Arabia, will provide mobile infrastructure services on the upcoming Mumbai Metro 3 line, the city’s first fully underground corridors, top officials said here on Tuesday. A contract was ...

05 Mar 2024

Jeff Bezos overtakes Elon Musk as world’s richest person

NEW DELHI — Amazon founder Jeff Bezos has overtaken Tesla and SpaceX CEO, Elon Musk, as the richest person in the world, as per the Bloomberg Billionaires Index. As per the latest figures, the Amazon founder’s net worth is $200 billion, while Mus...

05 Mar 2024

Lava launches new smartphone with 64MP camera, 6.67-inch display

NEW DELHI — Domestic smartphone brand Lava on Tuesday launched a new smartphone — the Blaze Curve 5G, with a 64MP camera and 6.67-inch 120Hz 3D Curved AMOLED display. Starting at Rs 17,999, the smartphone comes in two colour variants — ...

05 Mar 2024

SpiceJet settles $11.2 mn dispute with Cross Ocean Partners, informs Delhi HC

NEW DELHI — SpiceJet has settled a dispute of about 11.2 million US dollars with the Cross Ocean Partners, the lessor behind the Special Purpose Vehicle (SPV) known as VS MSN 36118 CAY Designated Activity Company leased in 2018. Last year in June, ...

05 Mar 2024

Interoperable payment system for Net banking to be launched this year: RBI chief

MUMBAI — RBI Governor Shaktikanta Das on Monday said that the interoperable payment system for internet banking is expected to be launched this year to facilitate quicker settlement of funds for merchants. He said that the RBI has given its approva...

04 Mar 2024

Scindia inaugurates India’s first Green Hydrogen plant in stainless steel sector

NEW DELHI — Union Steel Minister Jyotiraditya M. Scindia on Monday virtually inaugurated India’s first Green Hydrogen Plant in the stainless steel sector located at Jindal Stainless Limited in Haryana’s Hisar. The project is the worldâ€...

04 Mar 2024

Delhi govt. presents INR 76,000 crore budget; to give INR 1,000 monthly to every woman

NEW DELHI — The Delhi government on Monday presented a INR  76,000-crore budget for FY25, which it claimed to be inspired by the vision of ‘Ram Rajya’, and announced a monthly payment of INR  1,000 to all women under a scheme that Chi...

04 Mar 2024

Govt. allows export of onion to Bangladesh, UAE with riders

NEW DELHI — The government has allowed the export of 64,400 tonnes of onion to the UAE and Bangladesh through the National Cooperative Exports Ltd (NCEL), according to notifications issued by the Directorate General of Foreign Trade (DGFT). The exp...

04 Mar 2024

OPEC+ members extend oil output cuts to Q2

VIENNA — Several OPEC+ members have announced extensions of oil output cuts into the second quarter to support the “stability and balance of oil markets”. OPEC+ is an oil-producer group comprising member countries of the Organization of...

04 Mar 2024

Demand for key minerals to soar with growth of Electric Vehicles

SEOUL — South Korea’s demand for key minerals is expected to see 19-fold jump from 2021 to 2040 due to expansion in the electric car and wind power industries, a report showed on Sunday. The demand for lithium, nickel, manganese and cobalt, e...

03 Mar 2024

India to be on high-stake global stage of chip makers in 5 years: IT Minister Vaishnaw

NEW DELHI — India will, in next five years, join the high-stake global stage of semiconductor manufacturing as it combines unparalleled design capabilities with USD 10 billion of incentives to draw manufacturers to set up new fabs and units that wi...

03 Mar 2024

RBI turning up compliance heat on regulated entities

NEW DELHI — Compliance is taking the centre stage with 4x increase in RBI penalties on regulated entities (FY20-23), IIFL Securities said in a report. Increasingly, these penalties are imposed for failure to follow the required processes, deficienc...

02 Mar 2024

Nifty records all-time high

NEW DELHI — Nifty regained strength with a strong bullish candle formation to record an all-time high crossing the 22300 zone with sentiment and bias turned strong, says Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladhe...

02 Mar 2024

Tata Steel, Tata Motors gain in special stock market session

NEW DELHI — Tata Steel, Tata Motors were the top Sensex gainers on Saturday in a special stock market session. BSE Sensex was at 73,860.26 points, up 114.91 points. The special stock market session is part of the framework for the business continui...

02 Mar 2024

Hyundai Motor’s sales up 6 pc in US due to hybrids, EVs

SEOUL — South Korea’s top automaker Hyundai Motor said on Saturday that it recorded a 6 percent increase in its sales in the United States last month. It sold a total of 60,341 units in the world’s largest auto market last month, compar...

02 Mar 2024
Website Design and Website Development by TIS