Czech Republic’s Skoda Auto, a part of the Volkswagen group, has indicated that it might be planning to stop the production of its Fabia model at its plants in India.
“Skoda is in the process of strengthening its model range and as a part of this process, Skoda is contemplating a pause in production of the Fabia in India,” a company spokesperson said in a statement.
New Delhi, May 16 : German automobile major Mercedes-Benz Thursday launched an all-new luxury SUV (Sports Utility Vehicles) at Rs. 77.5 lakh (ex-showroom, Delhi).
Unveiled by Tennis star Boris Becker, the GL class car named 'Launch Edition' has at present only 100 units to buyers in the form of CBUs (Completely Built Units) and boasts of features like AMG body kit, heated leather seats and temperature-controlled cup holders.
According to a regulatory filing, the Chief Executive Officer of Indian IT sector giant, Infosys saw his compensation fall 26.5 per cent to US$ 119,774 during the financial year 2012-2013.
Shibulal has received an annual compensation of US$ 162,990 in the previous year. The fall in the compensation is mainly due fall in reduction in bonus component. His bonus in the financial year 2013 recorded a fall of 70.14 per cent to US$ 15,918compared to US$
XOLO has announced the launch of its Q700 smartphone that the company claims is the world's first multi profile Android smartphone with a Quad-core processor.
The XOLO Q700 has a 4.5 inch qHD IPS display with One Glass Solution (OGS) Technology with a resolution of 960x540 with 245 PPI and can play 720p videos. It has Android Jelly bean v4.2 and powered by 1.2 GHz Quad-core processor with 1 GB of RAM. It comes with 4 GB of internal storage. It will come with a 2400 mAh battery for extended battery life.
Luxury phone maker, Vertu has announced the launch of its new unique offering, Vertu TI with attractive features in the India market.
The new Vertu TI will come with a price tag of a whooping Rs 6,49,990. The company's devices are popular with celebrities like Madonna and David Beckham. It launched the new TI in February this year. The Vertu TI is packed with titanium and has a ruby key for access to concierge services. The device's outer casing is created from grade 5 titanium so that to make it lightweight and durable for the custoemrs.
New Delhi, May 14 : Two-wheeler major Hero MotoCorp Tuesday launched products in Guatemala, El Salvador and Honduras.
The company has partnered with the Indy Motos Group of Guatemala as the authorised distributor in the three Central American countries, Hero MotoCorp said in a release here.
Showcasing the products in Guatemala City, Hero MotoCorp said the launch indicated the significant role that markets in Central America and Latin America would play in the company's global expansion plans.
It is believe that the new Ford EcoSport fromt eh American automaker will come with an Emergency Assistance System in the Indian market.
The new Emergency Assistance System of Ford will include delivering a critical voice message directly to emergency operators in case the vehicle is involved in an accident and in which the airbags of the vehicle have been deployed or fuel pump are turned off. The system will also enable hand-free allowing passengers to communicate.
London, May 7 : British liquor giant Diageo has appointed Indian-origin Ivan Menezes as its next chief executive officer.
The maker of Smirnoff vodka and Johnnie Walker Scotch, in a statement Tuesday said Menezes would take over as CEO with effect from July 1 this year.
Outgoing CEO Paul Walsh will step down from the company's board in the annual general meeting in September and will retire from the company June 30, 2014.
"We are delighted to have a leader of Ivan's talents and global experience to succeed Paul," Diageo chairman Franz B. Humer said in the statement.
Mumbai, May 6 : India's private international carrier Jet Airways completed 20 years of operations Sunday, an official said here Monday.
Two decades ago, it had taken the delivery of its first aircraft in Mumbai in the presence of J. R. D. Tata, making the start of a new chapter in the civil aviation industry in the country.
From that humble beginning, the airline today has 115 aircraft offering over 600 daily flights across 52 domestic and 20 international destinations around the world.
SpiceJet shares jumped more than 8 per cent in early trade on Monday, after Rekha Jhunjhunwala, wife of big bull Rakesh Jhunjhunwala, purchased twenty-five lakh shares of the carrier for Rs 9.73 crore.
Rekha purchased shares through a block deal at an average price of Rs 38.94 apiece last Friday. It may be noted here that stock markets remain closed on Saturday and Sunday.
At 09:20 in the morning today, stock in SpiceJet was trading at Rs 43.15 a share. So fare, the stock has hit a low and high of Rs 41 and Rs 43.75 a share.
The Murugappa Group, which has diverse interests ranging from engineering to fertilizers, has announced its lowest capital expenditure (capex) in six years for the current fiscal.
The Group announced that it would spend Rs 450 crore as capex for the fiscal 2013-14, as compared with around Rs 1,750 crore in fiscal 2012-13.
Murugappa Group Chairman A Vellayan said that the fiscal 2013-14 would be a year of consolidation in a difficult phase, adding that the group was very cautious on new investments.
India’s capital market regulator, the Securities Exchange Board of India (Sebi) has imposed a pentalty on Reliance Petroinvestments (RPIL) for insider trading in IPCL shares in 2007.
Reliance Petroinvestments is a subsidiary of Reliance Industries (RIL) headed by Mukesh Ambanni. According to the order, RPIL generated a profit of about Rs. 3.82 crore through the trades related to insider trading between February and March 2007. It is believed that the insider trading occurred before the announcement about dividend declaration and the merger of a group.
New Delhi, April 30 : Tata Industries and Ramot at Tel Aviv University (TAU), the university's technology transfer company, have entered into a strategic memorandum of understanding (MoU) to fund and generate leading-edge "commercialisation ready technologies".
Under the MoU, Tata Industries, through its wholly owned overseas subsidiary, will be the lead investor in Ramot’s $20-million Technology Innovation Momentum Fund, which will invest in a wide range of technologies. These include engineering and exact sciences, environment and clean technology, pharmaceuticals and health care.
According to the latest reports, Australia's Griffin Coal and Perdaman Chemicals have settled a massive A$ 3.5 billion lawsuit between them.
Bhubaneswar, April 27 : State run-Bharat Heavy Electricals Limited (BHEL) Saturday bagged a Rs. 4,051 crore power project contract from Odisha Power Generation Corporation Ltd. (OPGC), an official said here.
The contract awarded to the power plant equipment manufacturer, include erection of the third and the fourth unit of (2x660 megawatt) coal fired power plant of the OPGC in Odisha.
The contract awarded is worth Rs. 4,051 crore which comprises of supply of the main plant (boiler, turbine and generator) at an all inclusive firm price of Rs. 3,748.94 crore and erection of the said main plant at Rs. 302.06 crore.
Tata Group, India's biggest business house, on Friday announced its decision to hike its spending on research & development (R&D) in the coming years.
The salt-to-software conglomerate is currently spending nearly US$2 billion per year on R&D. the company's R&D spending accounts for around 2 per cent of the conglomerate's total annual revenue.
Mukund Rajan, brand custodian & spokesperson for Tata Group, announced, "I hope with the focus which has been created on innovation and customer centricity, this number (spending) will increase in the years two come."
NIIT Technologies, a IT services company based in Delhi, has received an order from Airports Authority of India (AAI) worth Rs. 344 crore.
Under the multi-year contract, NIIT Technologies will work on the integration of IT systems at the operations control centers at about 10 airports across the country. There is a provision to extend the solution to additional 25 airports in the country. The awarded contract is a part of the larger airport modernisation initiative taken by the civil aviation ministry under the leadership of union civil aviation minister, Ajit Singh.
New Delhi, April 26 : Electronics major Samsung Friday launched its new flagship smartphone Galaxy S4 priced at Rs. 41,500. It will go on sale from Saturday.
The latest version of Samsung's Galaxy series will compete with the likes of Apple iPhone5, HTC One and Blackberry Z10, all priced above Rs. 40,000.
The hand held device will be available for sale to Indian customers from Saturday in four cities-- Delhi, Mumbai, Hyderabad, Bangalore-- and online.
Manila, April 26 : The Asian Development Bank (ADB) announced Friday that Takehiko Nakao has been unanimously elected as president by its Board of Governors.
Nakao, 57, is Japan's former vice minister of finance for international affairs. He will assume office as the Manila-based lender's ninth president April 28, reported Xinhua.
He will finish the unexpired term of his predecessor Haruhiko Kuroda which ends Nov 23, 2016. Kuroda resigned as ADB president in March following his nomination as governor of the Bank of Japan.
Japanese photography giant, Nikon has announced the launch of its new Coolpix Cameras in the Indian market.
The company launched its new Coolpix A camera under the new series in the CoolPix range as well as other models in the new cameras the CoolPix P, S, L and AW series. The new Coolpix A comes with DX format CMOS 16.2-megapixel crop sensor and a wide-angle. It also has a 18.5mm fixed focal lens with a f/2.8 aperture and the company will offer the model with a price tag of Rs 54,950.