Demand for power declined in the spot market during September 2019 compared to the same month last year, according to numbers released by Indian Energy Exchange, the biggest power exchange in the country. All India peak demand fell to 173 gigawatt from 175.6 gw in the same month last year. Similarly, energy met fell by […]
Minda Industries, one of the world’s biggest auto-parts makers, said it will acquire German autoparts maker Delivis Group for 21 mln euros (Rs 163 cr). Minda, which supplies parts to almost all major automakers in India including Maruti Suzuki, said the acquisition is designed to “maintain technology leadership in lighting products market in India”. Delvis […]
A woman from Kerala has been booked for assault after she complained of ill-treatment by a security guard at a private hospital in Aluva, Kerala. Arya, who hails from Payyannur in North Kerala and works in Kalamassery, was booked for assault after CCTV footage of her altercation with a security guard revealed that it was […]
Amazon, the US-based online retailer, released a bunch of numbers on the final day of its five-day festival sale to paint a surprisingly rosy picture of its performance during the biggest sales event of the annual online calendar. Notable among the numbers was a 15-fold jump in the sales of smartphones during the sale period, […]
US Secretary of Commerce Wilbur Ross today said that e-commerce giant Amazon, one of the biggest foreign investors in India, had scaled down its plans for investments in this country after the government came up with new, protectionist and restrictive ecommerce rules. In what was seen as a nasty blow to the likes of Walmart […]
Telecomms provider Bharti Airtel today said that it has been chosen as the strategic Network Solution Partner by Faridabad Smart City Limited (FSCL) to help set up a high-capacity network in Delhi’s satellite town of Faridabad. Airtel, which has its global headquarters not far from Faridabad, will provide “a range of connectivity solutions to build […]
Pharmaceuticals maker Lupin has appointed a new head of quality for the company, as it strives to remain compliant with international safety and manufacturing norms throughout its vast manufacturing base across the world. Johnny Mikell, the new global head of quality, comes from a similar role at Canada-based pharmaceutical manufacturer Apotex, and has 35 years […]
Mahindra & Mahindra, one of India’s biggest home-grown automakers, reported continued pain in its passenger vehicle department, but sales decline a its commercial vehicle and tractor divisions seemed to show signs of moderation in September. Domestic sales of passenger vehicles were down 33% in September, doing worse than August, when they had declined 32%. The […]
The size of apartments on sale in India are shrinking like never before, mostly due to a new affordable housing subsidy scheme announced by the government in early 2017. Under this credit subvention scheme, the government will today pay up to Rs 3.5 lakhs to banks on behalf of anyone who takes a home loan […]
Thomas Cook India today clarified that the financial troubles of its former, UK-based parent, Thomas Cook Group Plc, will have zero impact on the Indian company as the former parent has sold off its entire stake in the Indian unit seven years ago. Thomas Cook Group, founded in 1841 in Britain, sold its 77% stake […]
Kerala government has issued a request for proposals from artificial intelligence companies to develop a real-time mass surveillance and facial identification system to be deployed across the state. The surveillance cameras will be connected to powerful computers, and any person whose name has been entered into the system will be detected the minute he or […]
A sensational rape case of 2016, in which a housewife accused three brothers — including a CPIM ward councillor — of gang rape in Kerala, has been found to be fake and closed, said media reports quoting a status update given by the police to the local MLA. Two prominent celebrity women’s rights activists, dubbing […]
The union finance ministry has rejected the Nripendra Misra committee report on plans to revive state-owned telecom operators BSNL and MTNL, including plans for a Rs 8,500 cr VRS package and ‘free’ 4G spectrum, Malayalam newspaper Mathrubhumi reported, quoting sources. The report, if correct, would make the condition of the state-owned telecom player precarious as […]
Kerala State Electricity Board, the public sector power distribution monopoly that is used by major broadband operators to hang their cables, has decided to start a fiber-to-the-home service on its own. The service, to be called K Fone, will also include a free-tier, which will come with limited data allowance and will be provided to […]
Shweta Menon, the former Bollywood actress and prominent Malayalam TV personality seen by many in Kerala as the ideal careerwoman, said she disagreed with the popular feminist portrayal of women as the victims of patriarchy. Menon, the daughter of an Air Force officer and a self-described ‘fauji kid‘, said it was up to the person […]
Construction major Nila Infrastructures Limited said it has received a contract to build a public services building for Dholera Industrial City Development Limited (Dholera ICDL) at a cost of Rs 46.21 cr. The building, to be constructed in the Dholera Special Investment Region (Dholera SIR), has to be completed in 545 days, and is the […]
Zee Essel Group today said it has completed the sale of 8.7% of its crown jewel, Zee Entertainment Enterprises, to US-based Invesco Oppenheimer Developing Markets Fund as per a plan announced in July. The remaining 2.3% stake that is to be transferred to the fund will also be sold in the “next few days”, the […]
Discovery Communications, the country’s most popular provider of reality-based television programming, has come out strongly against TRAI’s current rule that requires channel owners to treat all cable and DTH operators equally. Media regulator TRAI had earlier this year implemented Tariff Order of 2017, under which broadcasters like Discovery, Zee and Star have to offer channels […]
IT and outsourcing firm Tata Consultancy Services said it has expanded its engagement with Nordic logistics group Posten Norge to develop a more advanced digital solution. Posten Norge is already a TCS customer from 2013, and the new terms come in the wake of increased deployment of automation software in industries to cut down on […]
Even as banks remain reluctant to lend money to non-banking institutions after the default of IL&FS, State Bank of India has tied up with Edelweiss Group to leverage the NBFC’s sales and marketing network to extend loans to small and medium businesses. The move comes in the wake of the RBI laying down clear guidelines […]
