Internet giant, Yahoo! India has said that it will soon organise its `Open Hack India' event in the southern city of Hyderabad during the month of July or August this year.
Yahoo!'s second largest global research and development (R&D) facility is located in Bangalore and the company generally holds the event in the city. The event had recorded a participation of 800 developers in the Open Hack competition in the previous year but the company expects only a modest participation this year in Hyderabad.
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.
According to some reports, the Samsung Galaxy Note III, which is expected to be launched in the coming months, will come with a 6.0-inch display.
Media reports indicate that the phablet will feature a 6.0 inch screen and is expected to release in the second quarter of 2013. A report suggests that Samsung has started production of the display in a new line at the company's display production unit. Samsung's Display unit is planning to produce flexible AMOLED panels but the capacity is not likely to meet the requirement for flagship device like the Galaxy Note III.
Finnish handset giant, Nokai might be planning to release the much anticipated Lumia 925 smartphone powered by Windows Phone 8 in the UK today.
Reports suggest that details of the device also called Nokia Catwalk have been leaked to the internet in the previous few days. Some suggest that the Nokia Lumia 925 will be a global edition of Lumia 928, which was recently announced by the company. The device will come with brushed aluminum chassis instead of polycarbonate plastic body.
India's leading gold loan company, Muthoot Finance Ltd has recorded a fall of 6.4 per cent during the quarter from January to March, 2013 compared to the same quarter of the previous year.
The company said that its net profit fell to Rs. 220 crore for the quarter mainly due to higher allocations for provisioning. Muthoot Finance also said in a statement that its income from operations recorded an increase of 9 per cent at Rs. 1,411 crore during the quarter from January to March, 2013 compared to the same quarter of the previous year.
Reliance Infrastructure has said on Tuesday that its net profit has risen by an impressive 76 per cent to Rs. 726.12 crore during the quarter till March 31, 2013.
The company had recorded a net profit of Rs. 411.46 crore during the same period of the previous financial year, it said in a statement. The company's total operating income stood at Rs 6,187 crore during the quarter from January to March 2013 compared to Rs 7,135 crore in the same quarter of the previous financial year.
State-run aviation firm, Air India has said that it will resume flying its Boeing 787 Dreamliner passenger jets from tomorrow after a period of four months since the places were grounded due to an issue with the battery.
Civil Aviation Minister Ajit Singh has said that Air India will start flying Dreamliners on domestic routes on Wednesday and on international routes on May 22. He said all the six Dreamliners will be ready for operations within this month. Air India is planning to acquire eight more Dreamliners by December.
REpower Systems SE, a unit of Suzlon group, has received an order worth 90 million euros or more than over Rs. 639 crore for four projects in the wind energy sector in Germany.
REpower Systems received a contract from Bürgerwindpark in Kirchspiel Medelby GmbH & Co KG for supplying 27 wind turbines to four projects worth 90 million euros, according to a statement from the company. The turbines are to be supplied next year to the projects that are located in Northern Schleswig-Holstein near the Danish border. Repower has also concluded a service contract for 15 years with a clause allowing the contract to be extended for five more years.
Ranbaxy Laboratories has indicated that its US unit will pay a record $500 million to settle charges of non-compliance with the American regulator's drug manufacturing quality norms and providing false data in the filings made to the US Food and Drug Administration six months earlier.
The Bombay Stock Exchange (BSE) benchmark Sensex jumped more than 66 points in early trade on Tuesday, thanks to selective buying by funds.
Helped by strong demand for shares of IT, public sector units, healthcare and oil & gas companies, the 30-share indicator jumped 66.27 points, or 0.33 per cent, to 19,757.94.
It was a considerable recovery after the benchmark index lost more than 430 points on Monday.
Likewise, the National Stock Exchange (NSE) index Nifty gained 15.35 points, or 0.26 per cent, to 5,995.80.
A considerable drop in prices of gold and silver over the recent past helped jewellers saw an impressive rush for the two precious metals on Akshaya Tritiya, on Monday.
Jewellery chains reported a year-on-year rise of up to 70 per cent in sales on Akshaya Tritiya, which is considered a very auspicious day for buying gold and silver.
Industry estimates suggest that customers purchased 20-25 tones of gold as jewellery and coins on the auspicious day.
The USD/JPY broke higher last week, out of a triangle pattern that we have been tracking since mid-April. This triangle has been placed in wave four, so we must be aware of a bearish reversal in the next few days/weeks; this type of patterns always occurs prior to the final move of the larger trend. So current leg up should be our final leg; most-likely wave 5 of an ending diagonal. However, each leg in ending diagonal should be sub-divided at least by three waves, so that current pull-back is probably wave (b) with wave (c) yet to come - and that could hit the 103.00/103.50 level. After a completed ending diagonal we will be looking for a sharp reversal lower. A fall back beneath 100 would be a first but important sign for a completed ending diagonal and weaker prices ahead.
The Reserve Bank of India (RBI) has reportedly found a string of anomalies and violations on several counts by banks.
The central bank, which had launched a probe in wake of Cobrapost's sting operations showing officials of nearly 33 public and private sector banks facilitating money laundering, found that non-compliance to Know-Your-Customer (KYC) norms, usage of dummy PAN cards, and unauthorized gold sales are widespread among banks.
The Indian rupee slipped eight paise to 54.81 against the US dollar in early trade on Tuesday because of higher demand for the US currency from oil importers and banks.
Increased strength of the US dollar against other major currencies in the global market also intensified pressure on the Indian currency.
In early trade today, the euro was hovering above 1.30 to the US dollar; while the US currency was above the 101 mark to the Japan's yen.
Global rating agency Fitch's Indian arm will soon start rating infrastructure debt funds (IDFs) that would make them a more credible option for investors, Department of Economic Affairs Secretary Arvind Mayaram announced on Monday.
Getting their own investment rating would help IDFs in winning trust of foreign investors as they would be able to assess whether or not their investments in a particular IDF would give them the kind of return they expect.
Tata Steel shares slipped nearly 2.3 per cent in early trade on Tuesday on account of the company's announcement that it was taking an impairment charge of $1.6 billion.
The steel giant announced on Monday that it was taking a $1.6 billion (nearly Rs 8,000 crore) hit on its profit for financial year 2013. The company is all set to announce results for the past financial year on 23rd of May.
Tata Steel blamed its beleaguered European operations for the huge impairment charge.
The EUR/USD fell sharply last week, closing well below 1.3034 swing low support which puts bearish price action in play. In fact, a decline from 1.3195 was very strong and sharp, which in many cases represents an impulsive wave and direction of a trend. As such, we need to respect this price action so it’s better to stick to the downtrend and look for possible short entries.
From an Elliott Wave perspective we are tracking one-two, one-two set-up with sub-wave (ii) now underway to 1.3020/50 resistance area.
The reason why the bearish price action could continue is a broken channel line on the Daily chart as shown below. We would turn bullish again only if the 1.3130 level is passed.
The Indira Gandhi International Airport, the country's most sensitive airport, will soon be guarded by women commandoes.
The Central Industrial Security Force (CISF) is giving commando training to ten women personnel, who will be positioned at Delhi's IGI Airport to against any terrorist attack.
The development shows a change in the authorities thinking who have so far trained women police officers to frisk women.
The government's recent decision of raising the import duty on polymer products will help Reliance Industries Ltd's (RIL's) the petrochemicals business a lot, Goldman Sachs said.
The government on Friday declared that it was raising import duty on polymer products from 5 per cent to 7.5 per cent.
According to Goldman Sachs, the increase in import duty on the polymer product will result in an increase in the import-parity price of these products, which will help revenues of the local producers.