Business Archives - Eastern Mirror
Wednesday, April 24, 2024
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Altos India unveils locally manufactured high-end workstations, servers

BENGALURU — In a fillip to the government’s local manufacturing push for IT hardware, technology company Altos India on Thursday said it has expanded its manufacturing portfolio to include high-end ‘Make in India’ workstations and...

18 Apr 2024

Nestle baby food sugar study causes concern in India, Nestle India’s shares fall

NEW DELHI — The baby-food brands sold by global giant Nestle in India contain high levels of added sugar, unlike the same products in the UK, Germany Switzerland, and other developed nations, revealed an investigation by Swiss organisation Public E...

18 Apr 2024

Escalation of Iran-Israel conflict to impact inflation, oil price, interest rates in India: Acuite Ratings & Research

CHENNAI — The price of crude oil would breach $100, the central bank may delay cutting the repo rate over uncertainty over disinflation, exports to West Asia may be affected and an increase in shipping costs are some of the likely impact if the con...

18 Apr 2024

Airtel Payments Bank joins NPCI to launch NCMC-enabled debit, prepaid cards

NEW DELHI — Airtel Payments Bank on Thursday launched eco-friendly NCMC (national common mobility cards) enabled debit and prepaid cards in partnership with the National Payments Corporation of India (NPCI). These interoperable cards are powered by...

18 Apr 2024

Nestle adds sugar to baby food sold in India but not in Europe

NEW DELHI — The baby-food brands sold by global giant Nestle in India contain high levels of added sugar, while such products are sugar-free in the United Kingdom, Germany Switzerland, and other developed nations, an investigation by Public Eye, a ...

18 Apr 2024

Indian electronics industry sees impressive 154 pc growth in hiring, skilling — Report

NEW DELHI — The electronics industry in India saw a massive 154 per cent growth in hiring and skilling in the last financial year (from March 2023 till March this year) and the telecom domain led the industry, a report showed on Thursday. The telec...

18 Apr 2024

realme P Series offering best display, performance in segment to go on sale starting April 22

NEW DELHI — Following the successful unveiling of its P Series, specifically curated for the Indian market, the much-anticipated realme smartphone series will soon be available to purchase on both realme’s official website and its e-commerce ...

18 Apr 2024

Four automakers to recall over 11,000 vehicles for faulty components

SEOUL — Hyundai Motor, Mercedes-Benz Korea, and two other carmakers will recall over 11,000 vehicles due to faulty components, the transport ministry here said on Thursday. The four companies, including Stellantis Korea and Man Truck & Bus Kore...

18 Apr 2024

Apple, CleanMax join hands to boost renewable energy adoption in India

NEW DELHI — Renewable energy company CleanMax on Wednesday said that it has partnered with Apple to accelerate renewable energy adoption in India. As part of the collaboration, CleanMax has successfully installed 14.4 megawatts of rooftop solar ins...

17 Apr 2024

Paytm accelerates user migration to PSP Banks with NPCI approval

NEW DELHI — One 97 Communications Limited (OCL) which owns the brand Paytm, India’s leading payments and financial services company and the pioneer of QR, soundbox and mobile payments, received go ahead, on Tuesday from the National Payment Corpo...

17 Apr 2024

Samsung aims for INR 10,000 cr revenue from its AI TV business in India

NEW DELHI — Samsung on Wednesday said that it is targeting INR 10,000 crore revenue from its Artificial Intelligence (AI)-powered Neo QLED, OLED TV business in India. Samsung ended 2023 with a 21 per cent volume market share and this year it is loo...

17 Apr 2024

Intel builds 1st large-scale neuromorphic system to enable sustainable AI

NEW DELHI — Chip maker Intel on Wednesday announced that it has built the world’s largest neuromorphic system called ‘Hala Point’ to enable more sustainable artificial intelligence (AI). Initially deployed at Sandia National Labor...

17 Apr 2024

India to add 13,000 km of new highways in 2024-25: ICRA report

NEW DELHI — India is expected to maintain its rapid pace of road construction with the addition of up to 13,000 kilometres in the financial year 2024-25, an increase of 5 to 8 per cent over the previous year, according to a report released by ratin...

16 Apr 2024

UNCTAD forecasts India’s GDP growth at 6.5 pc in 2024

NEW DELHI — The latest UN Conference on Trade and Development (UNCTAD) report released on Tuesday forecasts global economic growth at 2.6 per cent in 2024 barely above the 2.5 per cent threshold commonly associated with a recessionary phase. Howeve...

16 Apr 2024

Employment could rise by 22 pc by 2028 as India aims $5 trillion economy goal — Report

NEW DELHI — As India approaches its $5 trillion economy goal, overall employment could rise by 22 per cent, while unemployment could decline by 97 basis points by 2028, a report showed on Tuesday. The ‘India Employment Outlook 2030’ report by O...

16 Apr 2024

Mahindra unveils new nine-seater Bolero Neo+ starting at INR 11.39 lakh

NEW DELHI — Leading SUV manufacturer Mahindra & Mahindra on Tuesday unveiled the 9-seater ‘Bolero Neo+’ in two variants — the P4 and the P10, at a starting price of INR 11.39 lakh (ex-showroom). According to the company, the P...

16 Apr 2024

B2B marketplace ProcMart raises INR 250 cr led by Fundamentum, Edelweiss Discovery Fund

NEW DELHI — Online B2B marketplace ProcMart on Tuesday said it has raised $30 million (about INR 250 crore) in its Series B funding led by Nandan Nilekani and Sanjeev Aggarwal’s VC fund, Fundamentum Partnership, and the Edelweiss Discovery Fund. ...

16 Apr 2024

RBI eases rules on hedging of gold price risk in overseas markets

MUMBAI — The RBI on Monday eased rules to allow resident entities to hedge their exposures to the price risk of gold using the OTC derivatives in the International Financial Services Centre (IFSC) in addition to the derivatives on the exchanges in ...

15 Apr 2024

Geopolitical situation, rise in crude & metal prices, heat wave to edge up WPI inflation: Economists

CHENNAI — Even though higher food prices resulted in the Wholesale Price Index (WPI) inflation rising to 0.53 per cent in March, a positive outlook for agricultural production and food inflation can be expected, said a top economist at CARE Ratings...

15 Apr 2024

India’s merchandise trade deficit dips to 11-month low of $15.6 billion in March

NEW DELHI — India’s merchandise trade deficit narrowed to an 11-month low of $15.6 billion in March compared to $18.71 billion in February as there was a significant decline in imports during the month, figures released by the Commerce Minist...

15 Apr 2024

IndiGo flight lands in Chandigarh with ‘1-2 minutes of fuel left’, airline rejects claim

NEW DELHI — After Deputy Commissioner of Police (Crime Branch in Delhi) Satish Kumar claimed that the IndiGo flight, originating from Ayodhya and bound for Delhi, landed in Chandigarh after a diversion with only 1 or 2 minutes of fuel remaining, th...

15 Apr 2024

Global smartphone sales up 7.8 pc, Samsung clinches top spot from Apple

SAN FRANCISCO — Samsung clinched the top spot in the smartphone market from Apple in the first quarter (Q1) of 2024, preliminary data from global research firm IDC said on Monday. Global smartphone shipments increased 7.8 per cent (year-over-year) ...

15 Apr 2024

Sensex down more than 300 points on global headwinds

MUMBAI — BSE Sensex is trading down by more than 300 points as the markets face headwinds from global factors. Sensex is trading at 73,867 points, down by 377 points on Monday. Hindustan Unilever, Tata Motors, ICICI Bank, Tech Mahindra, SBI, and Wi...

15 Apr 2024

Liquidity from global equity markets fuelling fresh investment in gold

NEW DELHI — The risk on trade in global markets is witnessing a huge rally in equities as well as gold. There is an emerging view that the rally in gold is being fuelled by the surge in equities. “Record-high gold prices have accompanied record-h...

14 Apr 2024

Hyundai Motor & Kia set to top $72 billion in combined market cap

SEOUL — The combined market capitalisation of Hyundai Motor and Kia is widely expected to surpass the 100 trillion-won ($72.2 billion) mark this year, according to industry watchers. Currently, the combined market capitalisation of the two companie...

14 Apr 2024
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