Company Updates

Nokia to offer premium upgrade to its Lumia-only Mix Radio service

Nokia to offer premium upgrade to its Lumia-only Mix Radio serviceIn an announcement made via a company blog post by Nokia's Ian Delaney, the September-launched free Lumia-only Mix Radio music-streaming service from Nokia will boast a premium upgrade, dubbed `Nokia Music+', in the coming weeks.

According to the blog post, the new `Nokia Music+' service to be rolled out by the Finland-based company will chiefly serve as an add-on to the existing radio music capabilities of the Nokia Lumia handsets.

Lenders agree to restructure suzlon Energy's Rs 9,500-crore debt

suzlon-EnergyStruggling wind energy turbine manufacturer Suzlon Energy on Thursday announced that its lenders approved its proposal to restructure its net debt.

A consortium of 19 lenders, led by State Bank of India (SBI), agreed to restructure Rs 9,500 crore of Suzlon Energy's Rs 13,000-crore net debt.

The corporate debt restructuring (CDR) process was triggered after the wind turbine maker defaulted on its foreign currency convertible bonds worth Rs 1,189 crore ($221 million) in October last year.

Samsung's Q4 profit hits new high on Galaxy sales

Samsung-LogoSeoul, Jan 25 : Samsung Electronics' fourth-quarter operating profit hit a new high helped by solid Galaxy smartphone sales and improved earnings in semiconductor business.

Operating profit was 8.84 trillion won ($8.26 billion) in the three months ended December, nearly double from a year earlier, the company said in a regulatory filing Friday.

It was the highest in its history, and posted the record-breaking earnings for five straight quarters. The reading was in line with the preliminary figure estimated by Samsung, reported Xinhua.

Eurostone to work with Diamaz on marketing diamonds

Eurostone to work with Diamaz on marketing diamondsEurostone, an Israeli manufacturer, has indicated that it will work with Diamaz, a diamond supplier from Antwerp to jointly market diamonds to vendors in luxury watch making industry and premium jewelry designers across the world.

The companies have decided to offer their products under the Diamaz brand in the global markets. Thierry Silber from Diamaz said that the trade between the two companies has increased significantly during the previous year it was the time for forming a relationship.

JP Associates’ stock slips on deferring Jaypee Infra share sale

JP Associates’ stock slips on deferring Jaypee Infra share saleStock in engineering & construction giant JP Associates slipped more than 2 per cent in early trade on Thursday after the company deferred a planned sale of shares in its subsidiary Jaypee Infratech.

Jaiprakash Infratech had plans to offload 98.5 million shares on Thursday to collect an estimated of US$94 million. The infrastructure firm, which constructs roads and houses mainly in Uttar Pradesh, had announced that it would sell 27.9 million shares to institutional investors with an option to hike the stake sale by another 70.6 million.

Ford reveals pricing details for its latest two-series Ford Fiesta ST line-up

Ford reveals pricing details for its latest two-series Ford Fiesta ST line-up US automaker Ford has recently revealed the pricing details for its newest two-series Ford Fiesta ST line-up, which will not only boast the Fiesta's established sharp and fast chassis, but will also apparently be the fastest and the most powerful Fiesta model ever.

Airtel and Idea change tariffs to rationalize rates

Airtel and Idea change tariffs to rationalize ratesBharti Airtel and Idea Cellular, the country's top two mobile operators, on Wednesday announced some changes in tariffs in the prepaid segment, with a sole aim to enhance their revenues.

Both Airtel and Idea announced that while they had not hiked headline tariff (the pulse/second rate), some promotional offers, discounts and free minutes had been withdrawn from some schemes in certain circles.

Groupon suspends gun-related offers

Groupon suspends gun-related offersLeading discount deals major, Groupon have said that it is suspending all offers related to guns on its services for indefinite amount of time.

The company wrote an email to the customers informing that the service will no longer offer gun related offers. Julie Mossler, a representative for Groupon did not discuss if the company would consider including gun related deals again anytime in the future.

Bharti Airtel raises voice call tariffs

Bharti Airtel raises voice call tariffsIndia's leading telecom service provider, Bharti Airtel has increased the voice calling prices in the country in order to cope with the increased costs.

Bharti Airtel said in a statement on Wednesday that increase in prices is in line with the increased costs. "We have been reiterating that increase in prices is inevitable, which is reflected from the fact that despite rising costs, tariffs have been falling over the past 12 quarters," the statement said.

Intel’s to shut down its Desktop Motherboard business in three years

Intel’s to shut down its Desktop Motherboard business in three yearsIn a Tuesday disclosure, chip giant Intel said that it intends shuttering down its Desktop Motherboard business in the coming three years, and that the Haswell motherboards will be the last of the desktop motherboard offerings from the company.

According to the announcement made internally by Intel, the development of any new desktop motherboard solutions will be stopped towards the later part of 2013; with the Desktop Motherboard group to be completely shut down in three years' time.

Geoff Hunt to step down as CEO of Kordia Group

Geoff Hunt to step down as CEO of Kordia GroupGeoff Hunt has said that he will step down from his post of Chief Executive Officer of the Kordia Group, which is a leading public sector communications and broadband company.

The company has also decided to axe the role of CEO altogether from the management structure from March this year. Kordia NZ CEO Scott Bartlett, Kordia Solutions Australia CEO Peter Robson and CFO Shaun Rendell, who until now reported to CEO Mr. Hunt, will directly report to the board of the company from March.

Sony unveils thinnest and lightest tablet in world with Xperia Tablet Z

Sony-Xperia-Tablet-ZLondon, Jan 22 : Sony is back with a brand new Android tablet, the Sony Xperia Tablet Z, which is the world's thinnest and lightest 10 inch tablet.

The tablet is complete with an array of impressive specs and running a modified version of Android 4.1.2 Jelly Bean.

The Xperia Tablet Z has sleek and sharp lines which are reminiscent of the classic minimalist design language that helped make Sony's products so iconic and desirable, the Independent reports.

L&T Finance might acquire Morgan Stanley’s wealth business

L&T Finance might acquire Morgan Stanley’s wealth businessL&T Finance Holdings is planning to acquire the wealth business of global financial giant, Morgan Stanley in order to strengthen its presence in eth industry in the country.

According to some reports, the company is in advanced stages of negotiations to acquire Morgan Stanley's wealth management business in India. The acquisition, if finalized, will help L&T Finance expand its presence in the country's still new wealth management industry.

Maruti Suzuki to build two manufacturing facilities in Gujarat

Maruti Suzuki to build two manufacturing facilities in GujaratMaruti Suzuki India Ltd, the country's largest carmaker, will build two manufacturing facilities in Gujarat.

The carmaker is reportedly directly acquiring a 480-acre plot of land near Ughroz and Ukarade villages in Gujarat from farmers. This plot of land is in addition to the 700-acre plot at Mehsana that the Gujarat government has already allotted to the company for a manufacturing facility.

To finalize its Gujarat plans, the company's Japanese parent Suzuki Motor Corp. Chairman Osamu Suzuki is making an unusual trip to India this week.

RIL shares hit 52-week high as analysts expect 17% rise in net profit

RIL shares hit 52-week high as analysts expect 17% rise in net profitStock in Reliance Industries Ltd (RIL) hit its 52-week high of Rs 893.1 a share before closing at Rs 889.65 a share on the Bombay Stock Exchange (BSE) after an analysts' poll said that the conglomerate would enjoy a year-on-year increase of 17 per cent in net profit to Rs 5,200 crore and a rise of 6 per cent in revenue to Rs 90,000 crore in the quarter through December.

HCL board approves business restructuring

HCL board approves business restructuringThe board of directors of the HCL Infosystems has given its approval for business restructuring of the hardware and systems integration company.

The board approved the restricting plan on Friday that was recommended by the Finance Committee. The company said that the restructuring was aimed at making sure that the management has specific focus on each of the growth areas. The restructuring will also return in a leaner organization for the company's hardware solutions business.

Uninor to continue service in Mumbai

Uninor to continue service in MumbaiTelecom service provider, Uninor has said that it will continue operations in the Mumbai circle after the Supreme Court of India announced the extension of licenses of the companies whose licenses were to be scrapped on corruption charges.

Uninor has indicated that it has decided to bid for the upcoming auction of spectrum in the Mumbai circle. The company said in a statement that as the Telenor Group has decided to bid for the spectrum and the spex court has allowed an extension of licenses for the companies, the services in Mumbai will continue under the brand.

Global sales of Samsung Galaxy S smartphones cross ‘100 million’ milestone

Global sales of Samsung Galaxy S smartphones cross ‘100 million’ milestoneIn a Monday account made with a series of images posted to Samsung's official Flickr account, the South Korean company revealed that the global sales of its Galaxy S smartphones had crossed the `100 million' milestone.

Announcing the major sales milestone achieved by the Galaxy S line of smartphones, which was launched in 2010, the pictures posted on Samsung's Flickr account showed a group of people holding up handsets with numbers written on each one with the collective figure reading "100,000,000."

Qatar Airways confirms interest in buying stake in an Indian carrier

Qatar Airways confirms interest in buying stake in an Indian carrierQatar Airways CEO Akbar Ali Baker has confirmed that the West Asian carrier is interested in buying stakes in an Indian carrier.

Mr. Baker said that Indian civil aviation sector is a massive and potentially rewarding market. He said Qatar Airways would invest in an Indian airline once the regulations and the laws are properly liberalised.

Microsoft to retire Messenger instant messaging service

Microsoft to retire Messenger instant messaging serviceSoftware giant, Microsoft has said that its Messenger instant messaging software is set to go offline on March 15 and advised the users to update to Skype service using the same account.

The Redmond, Washington-based technology giant had acquired Skype for $8.5 billion in 2011 and the company has been integrating the popular telephony service into its own services. The company sent an email to its users urging them to update to the new services soon. Microsoft had announced earlier that it will retire its Messenger service and merge users with Skype.




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