Central Government will give up to Rs 2.5 lakh as interest subsidy for people who take home loans to purchase their house under the Pradhan Manthri Awas Yojana, said Minister of Housing & Urban Affairs Hardeep Singh Puri. He also revealed plans to hand over government land to private builders as part of the scheme. […]
L&T Technology Services, the engineering services arm of the construction conglomerate, will co-develop industrial solutions with Intel subsidiary Wind River, which works in the emerging domain of Internet of Things. Under the partnership L&T Technology Services will “validate and optimize” its solutions with Wind River software platforms. These will then be offered to “shared customers” […]
ICICI Bank said the initial public offer of its insurance unit ICICI Lombard is priced at Rs 661 per share. The total amount to raised will Rs 5,701 cr. The initial price band was Rs 651-661. The IPO comprises the shares that are being sold by ICICI Bank and FAL Corporation in the insurance company, […]
As expected, incumbent telecom operators have expressed their disappointment with the regulator going ahead with cutting the interconnect charges paid by one operator to another at the time of handing off internetwork calls. The operators are likely to approach the government and the court against the move to reduce interconnect charges to 6 paise per […]
HTC U11, the Taiwanese company’s come-back model, is all set to get an unspecified price cut under Flipkart’s Big Billion Days mobile sale that starts tomorrow at midnight. The online portal is teasing a price cut without revealing the extent of the cut. The current price for the phone is Rs 51,900, which pits it […]
Bajaj Finance will offer ‘no cost EMI’ schemes on over four lakh products during the Flipkart’s ‘Big Billion Days’ sale that starts tomorrow and ends on Sunday to its existing customers. “The existing EMI Card customer can transact on Flipkart without any processing fee or any down payment at No Cost EMI,” the company said. […]
The Telecom Regulatory Authority of India has asked Anil Ambani-led Reliance Communications to generate unique porting codes for all its 43.62 lakh GSM subscribers in Gujarat and send it to them by SMS. It has also granted an exemption to the 90-day lock-in rule for new customers who joined RCom or those who ported into […]
Glenmark Pharmaceuticals Inc said it has got the go-ahead to launch the generic version of Perrigo’s anti-inflammation ointment Desonide Ointment in the US. Desonide Ointment, 0.05% had annual sales of approximately $23.4 million for the 12 month period ending July 2017, according to IMS Health sales data. Glenmark’s current portfolio consists of 124 products authorized […]
Biocon said the plant inspection conducted by the US Food and Drug Administration at its Vishakapatanam plant passed without incident. “US FDA inspected our Active Pharmaceutical Ingredients (API) manufacturing facility in Wishakhapatnam, Andhra Pradesh from September 11 to 15, 2017 and completed the audit without any observations,” it said. No form 483 was issued, it […]
Tensions are on the rise between the ruling CPI-M and the Social Democratic Party of India in Ambalapuzha in Kerala after Left activists were attacked, allegedly for arranging the wedding of a Muslim boy and a Hindu girl. The SDPI is second only to the Indian Union Muslim League in terms of its vote-share and […]
Zydus Cadila said it received the final regulatory approval to market anti-sleep drug Modafinil in the US, and tentative approval for bladder control drug Solifenacin Succinate. Unlike a final approval, tentative approvals don’t allow the grantee to sell the drugs in the US market immediately. They have to wait for the patents to expire. The […]
Representatives of apparel exports met commerce minister Suresh Prabhu and sought certain changes in the tax reimbursement scheme under the current Goods and Services Tax regime. Apparel exporters are eligible for reimbursement of various state and central taxes under two schemes meant to promote exports: Rebate of State Levies (ROSL) and Drawback (DBK). However, they […]
IT services provider Wipro said it has been awarded a seven-year contract by European energy company Innogy SE to manage their data center and cloud services. Wipro will help the company, which focuses on renewables, grid & infrastructure and retail, to rationalize, virtualize and consolidate their IT infrastructure, the Indian company said. The Bangalore-based firm […]
Uflex, one of the world’s largest food packaging manufacturers, said it has developed an ‘active’ packaging material that can double the unrefrigerated shelf life of food items such as sandwiches. “The special properties of the FDA approved packaging material keep the pouch active by scavenging microbial growth thereby enhancing the shelf life of the Cooked […]
Tata Consultancy Services launched its artificial intelligence-based IT repair and prevention solution, ignio, in Japan. “When System outages occur today, businesses dedicate vast resources to rectify the problem. Oftentimes, multiple teams are called together to identify the root cause and devise resolution plans. “This can take Several hours and sometimes days. ignio” is able to […]
Reliance Communications said it has asked subscribers in Gujarat to move to its 4G network as its 2G spectrum in the state is expiring at the end of this month. “The Company has initiated migration of its customers in Gujarat circle to an all 4G network, prior to expiry of 2G spectrum in that circle […]
IT company Cyient said it signed an agreement to divest its 49% equity ownership in IASI, its joint venture with Pratt & Whitney, as it exits its IT services business. The Indian company will get $1.8 mln for the stake from United Technologies Corporation, the buyer, after a dividend disbursement of $9.1 mln from the […]
Mumbai-based real estate company Godrej Properties said it has signed a joint venture agreement with Nirmal Ventures, also based in Mumbai, for developing a residential project in Thane. The project, located on the Lal Bahadur Shastri (LBS) Marg, Thane West, will be developed under a development management agreement, the company said. Spread over 14 acres, […]
Bangalore-based Wipro won a high-profile client by signing up McLaren Technology Group, the company behind the successfull McLaren Formula 1 racing team. As part of the multi-year partnership, Wipro will deploy its HOLMES artificial intelligence platform to boost the productivity of McLaren’s fast growing automotive and high-tech businesses. Wipro has been given the title of […]
Even as Apple and its iPhone brand remains the most aspirational smartphone in India, it is OnePlus — owned by the same Chinese company that makes Vivo and Oppo — that has won the hearts of its Indian customers. OnePlus — which brings out only one phone at a time — emerged as brand with […]
