MICROSOFT SELLS MSN CHINA OPERATIONS
US tech giant Microsoft has sold MSN China – the Chinese edition of its global web portal – to its local partner Xichuang Technology (Beijing) Co. Ltd., founded by the portal’s top executive. Microsoft in its official blog has said that it has signed an agreement to sell MSN China, effective from September, reports Chinese […]
SONY TO BUY SPORTS CHANNELS FROM ZEE FOR US$ 385 MILLION
Zee Entertainment Enterprises Ltd on the 31st of August has said that it has agreed to sell its sports broadcasting business to Sony Pictures Networks for US$ 385 million, as it rejigs its media content delivery businesses. TEN Sports holds broadcast rights to major cricket boards in South Africa, Pakistan, Sri Lanka and West Indies. […]
EU TELLS APPLE TO PAY US$ 14.5 BN TAX IN IRELAND
The European Commission has ordered Apple to pay a record 13 billion Euro (US$ 14.5 billion) plus interest, averring that Ireland had illegally slashed the iPhone maker’s tax bill, in a crackdown on fiscal loopholes that also risks inflaming tensions with the US Treasury. The world’s richest company benefited from selective tax treatment that gave […]
RATAN TATA INVESTS IN URBANCLAP
Continuing apace with putting his personal funds into startups, top industrialist Ratan Tata has of late invested in the services market place, UrbanClap. The value of his investment was not disclosed. Operational in six cities – Delhi-NCR, Bengaluru, Mumbai, Chennai, Pune and Hyderabad – UrbanClap allows users to book over 80 services, including plumbing, electrical […]
M&M TO RAMP UP TUV 300 PRODUCTION
Mahindra & Mahindra, India’s largest utility vehicle maker, is planning to ramp up the production of its newly launched compact sports utility vehicle, the TUV 300. The ramp-up comes within two months of its launch, spurred by good response from the market. Having secured over 15,500 bookings over the last two months, several vendors in […]
HDFC BANK NET UP 21% ON RETAIL LOANS SEGMENT
HDFC Bank, the country’s second largest private sector lender, has reported a 20.5% jump in net profit to INR 2,870 crore in the three months to September, helped by robust performance in the retail loans segment and a rise in other income. The overall set of numbers was also driven by net interest income and […]
AI PLANS TO LEASE 15 NEW A320S NEXT YEAR
National carrier Air India (AI) will aggressively revamp its fleet and add new planes, even as it takes on private airlines for a larger pie of the domestic sky. Sources said the airline plans to take 15 brand new Airbus A320s on lease next year as the emphasis shifts to providing a better product and […]
AMITABH MATHUR APPOINTED DIRECTOR (IS&P), BHEL
Amitabh Mathur, 57, has assumed charge as Director (Industrial Systems & Products) of the Maharatna Public Sector engineering and manufacturing enterprise, on his appointment as a Director on the Board of Bharat Heavy Electricals Limited. Prior to this, he was heading the company’s Power Sector Eastern Region (PSER), Kolkata as an Executive Director. A Mechanical […]
MAHINDRA’S TUV 300 UNVEILED
Mahindra & Mahindra Ltd. , India’s leading SUV manufacturer, unveiled its much awaited sports utility vehicle (SUV), the TUV 300 in Delhi recently. Designed in house and built on an all new platform, the design of the TUV 300 is inspired by a battle tank which gives it a tough, bold & stylish character. According […]
CANARA BANK SHARES SHED 2% AFTER DISAPPOINTING Q1 EARNINGS
CANARA BANK SHARES SHED 2% AFTER DISAPPOINTING Q1 EARNINGS Shares of PSU banker Canara Bank eased from its early highs, as investors steadily exited after announcement of the bank’s disappointing earnings, which saw it, post a steep 40.7 percent fall in the first-quarter net profit. Shares of bank were traded at INR 303.50, down 1.9 […]
INDIGO ORDERS 250 PLANES FOR US$ 27 BN
IndiGo, India’s largest airline by domestic market share has placed a firm order for 250 Airbus A320 neo (new engine option) aircraft, with a list price of US$ 26.5 billion. The nine-year-old LCC (low cost carrier) now has 530 Airbus aircrafts on order, and has so far received 100 of them. In terms of number […]
BHEL EXCELS IN GLOBAL FORAYS
BHEL EXCELS IN GLOBAL FORAYS Bharat heavy Electricals Limited (BHEL) has been stretching its wings globally, making its mark in a new era of inclusive growth and co-operation in the region. To start with, the Indian megacorp just recently commissioned successfully the 500 MW Kosti Thermal Power Station in Sudan, which today is the country’s […]
AIRTEL BECOMES WORLD’S 3RD-LARGEST MOBILE OPERATOR
AIRTEL BECOMES WORLD’S 3RD-LARGEST MOBILE OPERATOR Bharti Airtel has become the third-largest mobile operator in the world with 303 million subscribers, according to the World Cellular Information Service. With telecom operations in 20 countries across South Asia and Africa, Airtel still has China Mobile and Vodafone ahead of it, while it pips China Unicom with […]
XIOMI CREATES TSUNAMI IN INDIAN SMARTPHONE MARKET
Xiaomi (Xiao = “little”, mi + “rice”) is one of China’s biggest electronics companies that designs, develops and sells cellphones, mobile apps and consumer electronics. To sell its smartphones, the company employs a strategy that prices them almost at bill-of-material prices. To profi t from the narrow margins and further reduce overhead costs, it sells […]
TATA INTRODUCES TWO NEXTGEN CARS
Tata Motors, India’s home-grown automaker, is pinning high hopes from its new, freshin- design breed of cars with new-age technologies that it is introducing aft er a launchhaitusof four years, to revive it’s fl agging fortunes in the Indian domestic market. The two cars TML is betting big on are the Zest and the Bolt. […]
CADBURY PARENT MONDELEZ TO MAKE INDIA MFG HUB
Mondelez International, the US$ 35-billion global snacking powerhouse that owns Cadbury, is looking at making India a manufacturing hub for the region across multiple product categories in the years to come. Mondelez, which has invested US$ 400 million in the country over the past four years, expects India to continue growing at double-digits, and expects […]
Honda Angles For Third Spot In Indian Automotive Sector
Piggybacking on the immensely successful launches of their new and rejuvenated offerings like the Amaze compact sedan and the new City, Honda Cars India is all set to emerge as the third biggest passenger car maker in India head-to-head with SUV major Mahindra & Mahindra this season. According to reliable sources in the auto financing […]
Visitors from Hong Kong Amoung Top Spenders in India
Visitors from Hong Kong have topped the list of travellers paying the most for hotel accommodation in India during 2013, parting with an average INR 8,061 per night, which is 6% more than what they paid in 2012, according to a report. Visitors from West Asia took the second place, paying INR 7,909 a night, […]