Jun 26

China’s Fushida Group to ally with Hero Cycles in Punjab

China’s Fushida Group, world’s largest and most integrated bicycle manufacturer, on Wednesday announced to collaborate with Hero Cycles in the latter’s Rs 210 crore cycle manufacturing project in Ludhiana’s hi-tech cycle valley. The Chinese Group will collaborate with Hero Cycles in Punjab for manufacturing premium bicycles and electric bikes.This was conveyed by Fushida Chairman Jian

San Francisco first US city to ban e-cigarettes sale

San Francisco has become the first major city in the US to ban the sale of electronic cigarettes, a measure that affects both brick-and-mortar stores and online retailers. The 11 members of the city and county’s board of supervisors on Tuesday unanimously voted in favour of prohibiting the sale of this product, arguing that e-cigarettes

Dollar drops amid bets on rate cuts, geopolitical tensions

The US dollar declined in late trading on Monday, as investors remain cautious on the greenback amid high bets on potential rate cuts by US Federal Reserve and Washington’s fresh sanctions on Iran. Investors and traders believed that the Fed cutting interest rates would become a certainty in July, as the probabilities of “ease” in

Microsoft taking bold steps to empower startups: Anant Maheshwari

Armed with a cutting-edge technology platform, a well-established partner organisation and an expansion of M12 venture fund, Microsoft is ready to help Indian startups across the spectrum embrace the next phase of growth, Anant Maheshwari, President, Microsoft India, said here on Monday. India, which saw a tremendous growth in the startup space in the last

RBI Deputy Governor Viral Acharya resigns

Reserve Bank of India’s (RBI) Deputy Governor Viral Acharya has quit six months before the end of his term, sources said on Monday.Acharya is the third top official to quit RBI before completing their term. The first being former RBI Governor Raghuram Rajan and second being former Governor Urjit Patel.Sources said that Acharya, who joined

From merger, govt now looks to de-merge 3 PSU insurers then look for strategic sale

With its plans on consolidation in the insurance sector hitting several hurdles, the government has started exploring different options including de-merging three of its big-size general insurance companies into smaller units and then look at strategic sale of few operations to the private sector. The Finance Ministry earlier considered merging three public sector general insurance

US stocks close higher amid mixed data, Fed decision

US stocks traded higher as investors digested a batch of mixed data. Meanwhile, Wall Street has been encouraged by US Federal Reserve’s dovish messages, which fuelled investors’ bets on potential rate cuts later this year. The Dow Jones Industrial Average on Thursday rose 249.17 points, or 0.94 per cent, to 26,753.17. The S&P 500 was

Now try virtual makeup while watching YouTube tutorials

With a new “Augmented Reality (AR) Beauty Try-On feature”, Google-owned video sharing platform YouTube would now let users try on virtual make-up while watching tutorials in real time.”Thanks to machine learning and AR technology, it offers realistic, virtual product samples that work on a full range of skin tones.  Currently in alpha, AR Beauty Try-On

Bahwan CyberTek to rejig fintech business

Information technology (IT) company Bahwan CyberTek (BCT) is planning to restructure its financial technology (fintech) vertical, including carving it out as a separate company to seek private equity investment, said a official on Wednesday. She also said the company is mulling multiple options including selling the fintech business if the price is right.”We are open

Apple will release two iPhones with 5G: Report

One of the most trusted source of Apple rumors, analyst Ming-Chi Kuo said the company would unveil 5G iPhones in 2020, while Qualcomm is still expected to be its primary supplier of 5G modems. According to media reports, Cupertino-based company is expected to launch three iPhones next year. Apple’s 6.7-inch and 5.4-inch iPhones will be

Top 5 Important Car News Of The Week

MG Hector Prices: The MG Hector has a lot riding on its shoulders as it has the job of introducing a new brand to Indian buyers. It’s necessary that the British brand prices its first SUV, the Hector, competitively to help it stand toe to toe with some of the stalwarts like the Tata Harrier and

Ahead of IPO, Mobikwik scouts for investor; eyes profit next

Digital payments provider Mobikwik is aiming to be profitable next fiscal and is looking to on-board an investor who will help it go public in the next three years, a top official has said. The 2009-incorporated company is planning to report its first quarterly profit in March, and will be profitable from a full year

GDP overestimated, growth during 2012-17 at 4.5%: ex-CEA

The growth numbers have come back to haunt the government with former Chief Economic Advisor (CEA) Arvind Subramanian also questioning the change in GDP calculation methods and numbers effected last year. In his recent research paper published by Harvard University, the former CEA has said there is a possibility of substantial overestimation in the growth

Newspapers shut but Google made $4.7bn from news in 2018

As small and medium newspapers shut shop and big media houses handed over pink slips to journalists worldwide, Google alone made a whopping $4.7 billion from its Search and Google News in 2018 — nearly as much as the entire US news industry made as a whole last year. According to a report in The

Banks can vote against NBCC’s Jaypee Infra bid: NCLAT

The National Company Law Appellate Tribunal (NCLAT) on Monday clarified that the lenders of Jaypee Infratech (JIL) can vote against the NBCC’s bid to acquire the insolvent real estate company.The Delhi-based appellate also directed for the completion of the ongoing voting process, which ends later in the day. IDBI Bank, the lead banker to JIL

Google wants exemption from Huawei ban: Report

Asking for an exemption from the ban, Google’s recent discussions with the US government argues that Huawei ban is bad for the company’s technology business as well as for the national security. Google also fears that the export ban would create a competitor to the US-made Operating Systems (OS), which would hurt the search engine

It’s now Jet versus Jet as endgame nears

Even as the lenders and the employees hope against hope and expect a white knight to rescue the grounded Jet Airways, the airline’s promoter Naresh Goyal, now deboarded from the pilot seat, knew weeks back that it was time to abandon the sinking ship. Goyal’s travel firm Jet Air in mid-May wrote to Jet Airways

Paytm Payments Bank ahead of major banks in digital transaction target

Paytm Payments Bank has received a target of 501.16 crore digital transactions for the financial year 2019-20 from the Ministry of Electronics and Information Technology (MeitY), higher than the targets set for major banks including HDFC Bank, ICICI Bank and Punjab National Bank. In a statement, Paytm Payments Bank said it is only behind the

Barack and Michelle Obama sign deal to produce podcasts for Spotify

Former US President Barack Obama and his wife Michelle Obama have signed a deal to produce a series of podcasts for music streaming platform Spotify. Under the multiyear deal between Spotify and the couples’ Higher Ground Productions, the duo are set to develop, produce, and lend their voices to select podcasts on a various of

RBI to go for another rate cut to spur growth

A booster dose in the form of further rate cut is expected from the Reserve Bank to rekindle economic growth which has been stunted by low demand, receding production and stagnant wages.Economy watchers contend that subdued food prices coupled with growth concerns allows RBI to aggressively cut key lending rate. Market observers have prescribed a