Even as the United Arab Emirates prepares to ship thousands of undocumented Indian workers home, numbers from the external affairs ministry reveal that a total of about 1.7 lakh Indians have been forced to leave the Gulf Cooperation Council countries alone since 2014. Another 30,000 have been forced to return from other countries, taking the […]
Jaguar Land Rover today reported total retail sales of 36,144 vehicles in July 2018, down 21.6% year on year, primarily, it said, reflecting “transitional issues” in certain markets. Retails for July were down in China (46.9%), reflecting continued market volatility in the first month of the duty change as well as trade tensions. Sales were […]
Future Retail, the country’s largest brick-and-mortal retailer with over 1,100 stores, reported an overall improvement in its profits margins in the Apr-June quarter. The improvement was largely the result of a slight dip in operating expenses, even as sales fell as the company shut unprofitable outlets. Excluding such stores, sales improved 7.1% on year. Net […]
Ramco Systems, one of India’s top cloud software vendors, said it won yet another client from Philippines for its logistics management offering. It said AP Cargo Logistic Network Corp will implement Ramco Svstems’ Logistics Software to manage its freight operations nationwide. The deal includes Finance and human resource management modules as well, besides transport management, hub management; warehouse management, […]
Government of India claimed on Tuesday that it has cut the time required to start a company to just 1 to 2 days from 22 to 30 last year with the introduction of a new system. The ministry of corporate affairs had, in April last year, introduced a new system called SPICe or Simplified Proforma for […]
The Tamil Nadu state government is all set to arrange the burial of M Karunanidhi, one of top three leaders of the Dravidian political movement in Independent India, at Marina beach. According to the latest reports from local media, both police officials and workers from the public works department have started work on the location. […]
After watching its marketshare nibbled away by online-focused rivals, Korean smartphone maker LG Electronics seems to have decided to borrow a leaf from the playbook of its competitors like OnePlus. Against the usual price of Rs 52,000-56,000 for its flagship devices, the company has priced its 128 GB G7+ ThinQ at just Rs 39,999 — […]
The Finance Ministry today said there would be no cut in the GST levied on bigger hybrid vehicles sold in India. At present, medium and large sized hybrid cars are taxed at a rate of 43%, including a ‘compensation cess’ of 15% — only marginally lower than the 45% tax charged for regular cars. However, […]
The latest health bulletin from Kauvery Hospital in Chennai at 6:30 PM today has said that there has been a further deterioration in Tamil politician Karunanidhi’s health. “There has been a decline in the medical condition of Kalaignar Dr M Karunanidhi, DMK President and former Chief Minister of Tamil Nadu,” read the bulletin signed by […]
Alembic Pharmaceuticals said it received tentative approval from the US Food & Drug Administration for launching a therapeutic equivalent of Latisse ophthalmic solution. Allergan Bimatoprost solution is used to treat loss of hair, or hypotrichosis, of the eyelashes. The solution, with an estimated US market size of $63 million, increases the length, thickness and darkness […]
A total of 1,104 people have died during clinical trials of various drugs and procedures in India in the last three years, according to the ministry of health and family welfare. However, not everyone who died during clinical trials are found to have died from the procedure through subsequent examinations. Only the patients who are […]
Bhima Jewellers, one of the biggest gold retailing firms in Kerala, seems to have pulled its advertisements from Mathrubhumi due to ‘controversies’ over the printing of a novel by the publication group. “We give importance to public sentiments and wish to stay away from controversies of any kind. We have noted your concerns and have […]
Jet Airways, one of India’s oldest private airlines, denied reports that it is on the verge of a shutdown, but admitted it had initiated talks with employees in an effort to cut costs in the face of adverse market conditions. Reuters reported that the company had urged pilots to take a 15% pay cut to […]
Six crore bank accounts opened under the Prime Minister’s Jan Dhan Yojana have been declared inoperative by banks due to lack of transactions, finance ministry said today. The frozen accounts constitute around 19%, or about a fifth, of the total 32 cr Jan Dhan accounts opened under the scheme. Banks are forced to declare an […]
The amount of money swindled by fraudsters from nationalized banks has jumped 359% in four years, RBI data revealed. The trend at nationalized banks is in contrast to that at private sector banks and SBI, where frauds are being increasingly brought under control. According to the RBI, nationalized banks lost a total of Rs 26,705 […]
An array of politicial parties, including BJP allies Shiv Sena and BJD, are likely to write to the Election Commission to ask for the next general election to be conducted using ballot paper, media reported. The parties include opposition outfits like the Indian National Congress, Samajwadi Party, Bahujan Samaj Party, CPI(M) and Rashtriya Janata Dal, […]
The Supreme Court has refused to stay the sale of ‘Meesa’ (The Moustache), a Malayalam novel that has been in the news for offending certain organisations in Kerala, pending further deliberations. Hearing a public interest litigation filed by Delhi-based Malayali N Radhakrishnan, a bench headed by Chief Justice Dipak Misra asked for a translation of […]
Godrej Properties, among the few large and healthy real estate companies remaining in India, reported a disappointing set of numbers for the first quarter. The company said booking value, or the value of properties booked by customers in the three months, fell to Rs 820 crore from Rs 1,474 crore a year ago. Similarly, booking […]
Samsung overtook Chinese challenger Xiaomi to retake the crown of India’s top smartphone brand in April-June period, according to market tracker CMR, even as Reliance Retail emerged as India’s biggest smartphone maker. A week ago, Counterpoint Research too had come to the same conclusion. Xiaomi had ended Samsung’s decade-long reign at the top of Indian […]
Government of India’s NALCO, or National Aluminium Company, said its primary Aluminium smelter plant at Angul in Orissa is facing a ‘crisis’ due to the the shortage of coal to produce power. Smelting of alumina into aluminium is one of the most power-hungry processes in industrial production. To supply power to the unit, NALCO had […]
