Welspun Enterprises Limited (WEPL), part of the $ 3 billion Welspun Group today completed the sale of Welspun Maxsteel Limited (WMSL) to JSW Steel Limited (JSW). The two companies had agreed to the transaction on 18th August 2014. The deal which included the sale of the entire shareholding of WMSL held by WEPL to JSW […]
Maruti Suzuki unveiled a new edition of its bestseller Swift hatchback with 10 per cent improved fuel efficiency. The new Swift has been priced from Rs. 4.42 lakh, ex-showroom, onwards. The Swift Diesel has a certified fuel efficiency of 25.2 kmpl, up by 10%. The Swift Petrol comes with a 9.67 % improvement and has […]
Karbonn Mobile has been told to pay Rs 5,000 as compensation and litigation expenses after the company said it no longer had a new handset to give to a customer whose handset stopped working properly during warranty time. The company was also told by the District Consumer Forum in Ferozepur to return the original cost […]
Employer retirement plans have emerged as the top source of income for retirement for many employees, according to the Global Benefits Attitudes Survey, conducted by professional services company Towers Watson. Minimal social security benefits and inadequate awareness about suitable retirement savings vehicles have resulted in employees becoming over dependent on retirement plans provided by employers, […]
Vodafone India has formally requested the Department of Telecommunications and regulator TRAI for immediate allotment of the 1800MHz spectrum, which it had won in auctions. “With only 7 weeks left, when as per DoT, the presently deployed spectrum in 900MHz is to be replaced by 900MHz won in auctions. Hence, timely earmarking of the spectrum […]
Over five lakh jobs in cyber security are opening up while there are hardly 2,000 trained for this job, said leading business chamber ASSOCHAM at a workshop on “Cyber and Network security” organized here at New Delhi. Dilip Chenoy MD and CEO, National Skill Development Corporation said this was an underestimate. ”With some 44 million […]
Three experienced solar professionals in India are raising funds to invest in solar projects in India. Three seasoned professionals with over three decades of industry experience, Tanya Singhal, Anil Nayar, and James Abraham have founded SolarArise, which is in the process of raising Rs 200 crore for investments in the solar industry in India. India […]
Under the new “Make In India”, the Licensing Committee chaired by Secretary, Department of Industrial Policy and Promotion has last week cleared 19 proposals for grant of Industrial License. These included applications for defence production from major players like, Reliance Aerospace Technologies Limited, Bharat Forge Limited, Mahindra Telephonic Integrated Systems Limited, Punj Lloyd Industries Limited, […]
Singapore and China are among countries where interest is on the rise for Indian accommodations, according to a Tripadvisor survey that also found Japanese and Italians to be the least impressed by Indian hotels and accomodations. The rising interest is seen as a proxy for potential tourist opportunities.With traveller interest growing by 48 percent year-on-year, […]
The World Steel Association (worldsteel) said the global apparent steel use will increase by 2.0% to 1,562 Mt in 2014 following growth of 3.8% in 2013. In 2015, it is forecast that world steel demand will grow by another 2.0% and will reach 1,594 Mt. India’s outlook is improving following the election of a new […]
India would need to undertake massive investments and upgrades at its seaports to handle future traffic, a study by Assocham found. Growing at a compounded annual growth rate (CAGR) of over eight per cent, the seaborne trade in India may cross 830 million tonnes (mt) mark by 2016-17, apex industry body ASSOCHAM said today. “This […]
Japan’s Sumitomo Group has acquired the car lease division of Carzonrent India Pvt. Ltd. Carzonrent group also owns Easycabs and MYLES, which are not part of the transaction. Financial details of the deal were not revealed. The main (original) company will continue to use the Carzonrent brand. In a statement, Carzonrent said it “has realized […]
Jet Airways, India’s premier international airline, today, announced competitive and attractively priced celebratory fares for travel in the coming New Year. These special economy class fares are on sale effective September 29, 2014 to October 01, 2014, and valid for travel anytime between January 16, 2015 and August 25, 2015, onboard the airline’s domestic flights […]
Hines, the international real estate firm, has launched a new $250 mln investment vehicle known as Hines India Residential along with an international partner for investment into the Indian housing real estate sector. With offices in 115 cities in 18 countries, and controlled assets valued at approximately $28.2 billion, Hines is one of the largest […]
Tata Motors said it had appointed Mayank Pareek as President, Passenger Vehicle Business Unit (PVBU). He will join the company on 1st October, 2014 and will take over from Mr. Ranjit Yadav, who will now head the International Business for Passenger & Commercial vehicles. Tata Motors has seen its presence in the car market erode […]
If you haven’t already booked tickets yet, SpiceJet is offering yet another sale for travel between Oct 28 to March 31, with the exception of Dec 16 to Jan 14. It is promising a 50% discount on ticket fares. However, we would request readers to find out for themselves as often most of the main […]
The Telecom Regulatory Authority of India has started consultation on how to promote broadband penetration in the country through both wireless, copper and fiber technologies. “India ranks 125th in the world for Fixed Broadband penetration with only 1.2 per 100 inhabitants having access to fixed broadband. With the world average being 9.4 per 100 inhabitants, […]
Jet Airways has introduced a new flight, Kochi to Dubai, starting November 5, and will also launch a second frequency between Mumbai and Doha effective November 5, 2014 as well as a new daily direct flight from Kozhikode and Thiruvananthapuram to Doha effective December 1, 2014. It will be Jet Airways’ first direct daily flight […]
Even as Flipkart and Amazon get all the attention, there is yet another big player that is setting up its ecommerce operations in India. Wal-Mart, the world’s biggest employer, is expanding its ecommerce operations in India, but has restricted the access to its site to registered owners of smaller shops. In a statement, it said […]
Deregulation of, or removing price controls from, diesel sales in India is imminent, said Edelweiss Securities in a report after meeting dealers. “We expect benign global oil prices to persist, paving way for de-regulation during Q4CY14,” analyst Jal Irani said in a report on Thursday. “We met the President of Petrol Dealers’ Association, Mumbai, and […]
