Page 525 - Business Finance
Home Appliances and Automobiles Highlight Smart Technology During Phase 1 of 125th Canton Fair
/ -- The 125th China Import and Export Fair (Canton Fair) is showcasing more than 8,700 exhibitors from the home appliance, automobile, construction, chemical and energy sectors during Phase 1, with a special highlight on smart technologies in these areas. Home Appliances Apply Human-oriented Smart Manufacturing More than 2,700 home appliance suppliers, including world leaders such as Haier, Midea, Haisen, TCL, Gree and Changhong, are demonstrating not only high-tech and smart products but also the digital services behind them. Galanz, a leading Chinese electronic home appliance manufacturer, has brought their smart home product lineup to Canton Fair. Products introduced include its IoT fridge which enables users to monitor and control the appliance on their mobile device. Home Appliances and Automobiles Highlight Smart Technology During Phase 1 of 125th Canton Fair Singfun, a home appliance leader in electric heaters and fans in China, is demonstrating its latest achievements at the
Nissan Motors donates EUR100,000 to Notre Dame, seeks to repair alliance with France
Japan-based Nissan Motors Corporation will donate 100,000 euros for the restoration of Notre-Dame de Paris, which suffered major fire damage on April 15 causing its famous spire to collapse.Nissan Motors is seeking to repair its strained relations with the French government and partner Renault SA, following the arrest of former chairman Carlos Ghosn indicted in back to back charges of financial fraud and trust breaching, The Japan Times reported.The company, in a statement released on Friday, said: "With 20 years of partnership through its alliance with Renault, and with Nissan Europe headquarters in suburban Paris, Nissan has developed close relationships with the Republic of France and its people.""Nissan wishes to contribute to the internationally iconic cathedral's restoration in recognition of and appreciation for Nissan Europe and Renault employees as well as the people of France," the statement read.The company joined a host of other companies and individuals who pledged more ..
Carlos Ghosn to be indicted on Monday on additional charges of financial fraud
Former Nissan Motors' chairman Carlos Ghosn is likely to be indicted once again by prosecutors on additional charges of financial fraud, next week.Quoting sources, The Japan Times reported that Tokyo prosecutors will charge Ghosn for allegedly misusing Nissan's funds and transferring them to a distributor in Oman.Monday will mark the last day of Ghosn's recent detention period, approved by the Tokyo District Court, and is also the deadline for prosecutors to decide whether to indict or release him.If indicted, Ghosn's defence team will again request that he be released on bail.On April 4, the former Nissan chief was arrested for the fourth time over allegations of misusing the company's funds for personal purposes. Prosecutors alleged that Ghosn had transferred some of Nissan's funds to his personal bank account, causing the automaker a loss of USD five million.His re-arrest last week came less than a month after Ghosn was released on bail following 108 consecutive days in detention, .
US dollar falls amid rising British pound
The US dollar decreased in late trading on Friday, amid a stronger British pound, which was lifted by upbeat British retail sales data in the first quarter, signalling robust economic growth for the country.
79.34 per cent votes polled in Assam in 2nd phase
An average 79.34 per cent of the 69.11 lakh voters exercised their franchise in the second phase of polling held for five parliamentary constituencies in Assam on Thursday, an election office spokesman said Friday. Mangaldoi recorded the highest voting of 83.60 per cent followed by 83.24 in Nowgong, 79.25 per cent in Silchar, 77.47 per cent in Autonomous Districts (ST) and the lowest of 73.15 per cent in Karimganj. Karimganj, however, recorded a high turnout of women voters, 78.27 per cent, as against 68.43 male voters in the constituency. Nowgong had the highest women turnout of 83.60 as against 82.90 per cent while in Autonomous Districts, the turnout of men and women were almost equal at 77.37 per cent and 77.57 per cent respectively. In Mangaldoi, male turnout was higher at 84.35 per cent as against 82.80 per cent while in Silchar, the break up among men and women is almost equal - 79.13 per cent and 79.61 per cent respectively. The total percentage of votes polled ..
PM blames Congress for traders' negative image
Prime Minister Narendra Modi on Friday said the Congress had created a negative perception about traders by blaming them for the price rise.
IndiGo to gain most from Jet Airways collapse
The country's largest carrier IndiGo is set to consolidate its position and rule the skies following the collapse of its rival Jet Airways.
India must re-engineer skill ecosystem as new-age technologies play out: FICCI-PwC
) As technological breakthroughs alter the nature of work globally, it is critical for India equip its workforce with employable skills, stimulate a sustainable development process and transit into a formal economy, according to a knowledge paper by industry body FICCI and consulting major PwC.The country with a fast-paced and evolving economy must capitalise on its demographic advantage with nearly 65 per cent of the population in the age group of 15-59 years."About 4.5 million youth are expected to enter the job market each year," said the paper titled 'Fast Forward: Relevant Skills for a Buoyant Indian Economy.'But only 10.8 per cent of the total Indian workforce has undergone any kind of skill training (2.2 per cent with formal training and 8.6 per cent with informal training as compared to 60 to 90 per cent of the workforce in developed economies."The current skill ecosystem needs to be re-engineered to cater to the evolving growth story and demands of Industry 4.0," said FICCI ..
Modi says traders to get 50-lakh loan without collateral, credit card, pension if NDA re-elected
Prime Minister Narendra Modi Friday promised traders Rs 50-lakh loan without any collateral, credit card facility and a pension scheme for small shopkeepers as he made a strong re-election pitch to the business community. Modi said while his government has stood by traders in thick and thin, the opposition Congress has abused businessmen by calling all of them 'chor' (thieves). Addressing a traders' convention here, he said the BJP-led NDA government in the last five years at the Centre worked to simplify lives and businesses of traders by scraping 1,500 archaic laws, simplifying processes and providing easy credit. Traders are "backbone" of the Indian economy but had in past never got the respect they deserved, Modi said, adding that doubling the size of the economy to USD 5 trillion is not possible without their contribution. "I am impressed by the hard work of traders... their business has helped the economy bloom," he said. "I have tried to make your life and business easy in last
Banks Board Bureau lists 75 bankers for PSB leadership roles
The Banks Board Bureau (BBB) has identified 75 senior officials of state-run banks for leadership roles across public sector banks (PSB).
Scrapped 1,500 laws in 5 years: Modi to traders
In the middle of the ongoing general election, Prime Minister Narendra Modi on Friday said the NDA government scrapped over 1,500 laws in the last five years to ease business operations in the country.
Flipkart CEO Kalyan Krishnamurthy denies exit
Flipkart CEO Kalyan Krishnamurthy has denied reports that he is going to quit the e-commerce company and a formal announcement on a new CEO is likely in June during the Walmart shareholders' meeting.
Forex kitty continues to swell, adds another USD 1.1 bn
India's foreign exchange reserves continued its northward push, increasing by USD 1.105 billion to touch USD 414.886 billion in the week to April 12, the Reserve Bank data showed Friday. In the previous week, reserves had increased by USD 1.876 billion to USD 413.781 billion. In the reporting week, foreign currency assets, which are a major component of the overall reserves, rose by USD 646.4 million to USD 386.762 billion. Expressed in US dollar terms, foreign currency assets include the effect of appreciation/depreciation of non-US currencies like the euro, pound and the yen held in the reserves. The forex kitty had touched a life-time high of USD 426.028 billion in the week to April 13, 2018. Gold reserves also increased by USD 77.4 million to USD 23.303 billion, according to the data. The special drawing rights with the International Monetary Fund was up by USD 3.3 million to USD 1.458 billion. The country's reserve position with the Fund also increased by USD 378.1 million to USD
Nilekani-backed RailYatri booking app unlicensed: HC
The Delhi High Court has ruled the operations of RailYatri, a mobile application for train-travel bookings, is unauthorized. The application is backed by Nandan Nelikani, Omidyar Network, Helion Ventures, and other well-known angel investors, and it uses deep-analytics technology to make prediction regarding train bookings.
LS polls: 62.91 pc voting in 10 Maha seats in 2nd phase
The second phase of Lok Sabha polls held across 10 constituencies in Maharashtra on April 18 witnessed a voter turnout of 62.91 per cent, with Hingoli seat polling the maximum at 66.60 per cent. In 2014, the polling percentage in these constituencies was 62.43 per cent. A statement from the Chief Electoral officer (CEO) said Buldhana registered a voter turnout of 63.68 per cent, a slight increase from 61.35 per cent in 2014. Akola saw a turnout of 60 per cent, up from 58.51 per cent registered in the last general elections. Amravati polled 63.86 per cent as compared to 62.29 per cent in 2014, while Hingoli saw a turnout of 66.60 per cent as compared to 66.29 per cent last time. Nanded, from where former chief minister and state Congress president Ashok Chavan is seeking a re-election, witnessed a turnout of 65.15 per cent. The voter turnout there was 60.11 per cent in 2014. Parbhani registered 63.19 per cent voting, while its 2014 figure was 64.44 per cent. In Beed 66.08 .
Indian carriers have 'limited freedoms' to operate as true commercial businesses: IATA
Airlines in India have "limited freedoms" to operate as true commercial businesses and the country is a challenging market for the carriers despite the huge aviation potential, according to global airlines' grouping IATA. The comments from the International Air Transport Association (IATA), which has nearly 290 airlines as members, also comes at a time when Jet Airway has temporarily closed down its operations due to cash crunch. Jet Airways is also a member of the IATA. Albert Tjoeng, Assistant Director of Corporate Communications (Asia Pacific) at the IATA, said that while the aviation potential of India is huge, it is a challenging market for airlines. "Airlines have to deal with high operating costs fuel, taxation, airport charges - in a very competitive environment. Fuel costs makes up 34 per cent of operating costs of Indian carriers when the industry average is about 24 per cent. "Coupled with the depreciation of the Indian rupee, it is a double whammy for the airlines," he ...
Uber's self-driving unit gets $1 bn investment
The self driving unit of global ride-sharing major Uber has announced a $1 billion investment from Japanese conglomerate SoftBanks Vision Fund, car manufacturer Toyota and automotive component supplier Denso.
Airtel Payments, Bharti Axa tie up for 2-wheeler insurance
Airtel Payments Bank on Friday announced a two-wheeler insurance policy in partnership with Bharti Axa General Insurance.
Royal Enfield enters South Korean market
Niche bike maker Royal Enfield Friday said it has forayed into the South Korean market. The company, part of Richer Motors, has entered the country by opening its first flagship store in Seoul with Vintage Motors (Kiheung International) as its official distributor partner. "Our focus is to sustain and expand our reach in international markets especially in Asia Pacific region," Royal Enfield APAC Business Head Vimal Sumbly said in a statement. Korea is an important chapter in the growth story and the company is thrilled to commence business there, he added. The strategic announcement is in line with Royal Enfield's focused international thrust of leading and expanding the global mid-sized motorcycle segment (250-750cc). The company has already entered various markets globally over the last few years.
Wipro says critical business operations unaffected by cyber attack
Wipro Ltd Friday said a cyber attack on few of its employee accounts has not impacted its critical business operations and the firm has taken remedial measures. In a regulatory filing, the company said it became aware of potentially abnormal activity within its network about 10 days back in respect of few of its employee accounts, who were "subjected to an advanced phishing campaign". "Upon learning of the above, the company promptly kicked off its standard operating procedure for addressing such incidents. We began investigating the incident, identified and isolated the employee accounts which were impacted, took remedial steps to contain the incident and mitigate any potential effects of the incident," Wipro said. It also informed the handful of customers where the affected employees are engaged. "We would like to clarify that the incident did not impact the company's ongoing critical business operations," it said. Cybersecurity blog KrebsOnSecurity had previously stated that ...