Page 794 - Business Finance
BMW and Daimler join forces to develop self-driving cars
German high-end car giants BMW and Mercedes-Benz maker Daimler said Thursday they would work together to develop automated driving and driver assistance systems, the latest cooperation for the historically fierce rivals. The two manufacturers have sealed a "long-term, strategic cooperation... to make next-level technologies widely available" by around 2025, they said in a joint statement. Munich-based BMW and Stuttgart's Daimler plan first to focus on so-called level three and four systems on an internationally-recognised scale for automated driving. They will stop short of level five -- which would see the on-board computer take over completely from the human driver under all circumstances. Rather, the hoped-for technology will at first offer driving and parking assistance and limited autonomy on motorways. "Instead of individual, stand-alone solutions, we want to develop a reliable overall system," said Daimler board member Ola Kallenius, who is set to take over from departing chief
IRCTC launches payment aggregator iPay
In a bid to promote digital transactions, the Indian Rail Catering and Tourism Corporation (IRCTC) on Thursday launched its much awaited payment aggregator system 'IRCTC iPay'.
Upstox Offers Free Demat Account for 7 Days to Increase Investor Participation in the Stock Market
/ -- Free Demat Fest by Upstox from 1st to 7th March, 2019 Attractive opportunity for new investors to enter the stock market for FREE No brokerage while investing in the stock market with Upstox Quick, Hassle-free, and Paperless Demat Account Opening Process Upstox (also known as RKSV Securities), the new-age online discount-broking firm backed by Mr. Ratan Tata, Kalaari Capital, and GVK Davix, is launching a Free Demat Fest from March 1st to March 7th, 2019. This fest will give first-time Indian investors an opportunity to create a Demat account and start investing in the share market, without paying any account opening charges. During the fest, users can visit Upstox.com and open a Free Demat Account within a few minutes by submitting their KYC documents, online. The process is completely paperless. Upstox, a product first company, has been working towards making stock trading easy and affordable for all Indians. It has been the first in its category to make an otherwise tedious ..
Jet Airways shares fall 6% as more planes grounded
Scrip of Jet Airways fell over 6 per cent on Thursday as the already struggling airline grounded more aircraft, taking the total to 13, over its non-repayment of dues to lessors.
Swan Energy Ltd leads losers in 'A' group
Reliance Infrastructure Ltd, Endurance Technologies Ltd, Max India Ltd and Centrum Capital Ltd are among the other losers in the BSE's 'A' group today, 28 February 2019.
You don't get away by not paying back to banks: Jaitley
Union Finance Minister Arun Jaitley said on Thursday that industry leaders must give up the tendency of not paying back loans to banks as the 'new normal' is already in place."The message has gone home loud and clear that people -- and particularly those in the world of finance -- have to break away from what was normal and live with the new normal. That's why in the banking sector the whole idea that if you don't pay back you can get away with, then it's a banker's headache, will not work," said Jaitley.He was addressing the board meeting of National Bank for Agriculture and Rural Development (NABARD) in the national capital."When you get money from the bank, you manufacture your own equity out of that money, round-trip it and base your investment on that basis. This can't be the new normal," said Jaitley.He said India is evolving upwards in terms of its economy, in terms of size and global presence. "We are now at the threshold of creating a new history where we are moving from an ..
Apple leads global smartwatch market with 51% share in Q4 2018
Apple captured 51 per cent share of a record 18 million smartwatch shipments worldwide in the fourth quarter of 2018, a new report has said.
Symantec partners with 120 companies to cut cyber security cost
California-headquartered global cybersecurity company Symantec said it had forged partnerships with 120 companies including Amazon Web Services (AWS), IBM Security, Microsoft and Oracle among others to drive down the cost and complexity of cyber security.
Indices nudge higher in volatile trade
Stocks hovered in positive zone in mid-afternoon trade amid high intraday volatility. At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 57.46 points or 0.16% at 35,962.89. The Nifty 50 index was up 17.35 points or 0.16% at 10,824. Most realty stocks fell.
Ramco Systems spurts after inking deal with Canadian firm
Ramco Systems rose 5.49% to Rs 241.95 at 14:36 IST on BSE after the company said it inked seven-year tech transformation deal with a Canadian logistics services provider.
Volumes spurt at Linde India Ltd counter
Linde India Ltd notched up volume of 6.8 lakh shares by 14:14 IST on NSE, a 9.05 fold spurt over two-week average daily volume of 75050 shares
RBI Enters Into Bilateral Swap Arrangement With Bank Of Japan
The Bank of Japan (BOJ), acting as the agent for the Minister of Finance of Japan, and the Reserve Bank of India (RBI) signed a Bilateral Swap Arrangement (BSA) that takes effect from today (February 28, 2019). The BSA enables both countries to swap their local currencies (i.e., either Japanese yen or Indian rupee) against US dollar for an amount of up to USD 75 billion. The authorities of both countries believe that, by enhancing financial cooperation, the BSA will contribute to the stability of financial markets, thereby further developing the economic and trade ties between the two countries.
ARSS Infra hits the roof after order win
ARSS Infrastructure Projects hit an upper circuit limit of 5% at Rs 34.75 at 14:10 IST on BSE after the company said one of its joint venture firms received a road contract worth Rs 429 crore.
Gold falls Rs 450 on weak global cues, tepid demand
Gold prices tumbled by Rs 450 to Rs 34,200 per 10 grams at the bullion market Thursday, tracking weak global cues amid fall in demand from local jewellers, according to All India Sarafa Association. Silver followed suit and dropped by Rs 425 to Rs 41,050 per kg owing to poor offtake by industrial units and coin makers. Traders said sentiments weakened on the back of a subdued global trend where gold fell after dollar rose as investors grew cautious about US trade talks with China. Globally, gold prices fell 0.10 per cent per cent to USD 1,319.10 an ounce, while silver held steady at USD 15.80 an ounce in New York Thursday. Besides, considerable fall in demand from local jewellers and retailers at the domestic spot market too fuelled the downtrend, they said. In the national capital, gold of 99.9 per cent and 99.5 purities slumped by Rs 450 each to Rs 34,200 and Rs 34,030 per 10 grams, respectively. Sovereign gold, however, remained unaltered at Rs 26,000 per piece of 8 grams. In step .
India, Latin American nations have huge potential to boost trade ties: Commerce Min
India and countries of the Latin American and Caribbean region have huge potential to boost economic ties in areas like agriculture, health, energy and information technology, the commerce ministry said Thursday. Quoting Commere and Industry Minister Suresh Prabhu who addressed diplomats of the Latin America and Caribbean (LAC) Strategic Economic Cooperation here Wednesday, it said there is a need for a multi-pronged strategy to enhance bilateral trade in merchandise and services. "India, as a fast growing developing economy is experiencing burgeoning food and energy needs, and therefore, deeper ties with partners in the LAC region could prove to be mutually beneficial," it said. The ministry said that Indian companies could form joint venture projects for cultivation of lentils, oil-seeds and food grains, which are crucial import items, besides conducting joint research in dairy farming, seeds and pulses. Indian companies can also work towards leveraging the opportunities arising ...
Sensex, Nifty hover near flat line
Key equity indices were almost flat in afternoon trade. At 13:30 IST, the barometer index, the S&P BSE Sensex, was down 10.51 points or 0.03% at 35,894.92. The Nifty 50 index was down 2.40 points or 0.02% at 10,804.25.
Tata Power Company Ltd eases for fifth straight session
Tata Power Company Ltd is quoting at Rs 65.3, down 0.31% on the day as on 13:24 IST on the NSE. The stock tumbled 22.54% in last one year as compared to a 3.29% rally in NIFTY and a 6.32% spurt in the Nifty Energy index.
Tesla CEO becomes Elon Tusk on Twitter
Ahead of a Tesla announcement on Thursday, tech billionaire Elon Musk changed his Twitter handle to Elon Tusk to the surprise of his 25 million followers on the platform.
IGL selects Genesis Gas Solutions for pre-paid metering system
Indraprastha Gas Limited (IGL) has selected Genesis Gas Solutions for the roll-out of its pre-paid smart gas metering system.This is the first time that this technology is being deployed by any city gas distribution company in the country.The new smart metres supplied by Genesis Gas Solutions in partnership with Tata Communications' LoRaWAN Internet of Things (IoT) network will enable customers to monitor their gas use more accurately in real-time against available credit and pave the way for greater operational efficiency for IGL.Tata Communications already has an established the IoT network in Delhi NCR, which has now been extended to Rewari.With low energy consumption of LoRaWAN, smart metres for gas usage can be installed independent from the main power source - with a battery life of up to 10 years. This has helped IGL overcome some of the key limitations of using existing post-paid technology solutions such as locked premises, estimated/wrong billing, reversal of bills and ...
BSA between India and Japan provides for India to access $75 billion
The Reserve Bank of India and Bank of Japan have signed an agreement for Bilateral Swap Arrangement (BSA) between the two countries, an official statement said on Thursday.The BSA was negotiated between India and Japan during the visit of Prime Minister Narendra Modi to Tokyo on October 29 last year. It provides for India to access 75 billion in US dollars while the earlier BSA provided for 50 billion dollars.The agreement for the BSA has become effective from Thursday. "India can access 75 billion dollars for its domestic currency, for the purpose of maintaining an appropriate level of balance of payments or short-term liquidity." said the statement issued by Finance Ministry."The government of India welcomes BSA effectiveness and expresses its gratitude to Japan for agreeing to enter into this arrangement. This is in the spirit of strong partnership and carries out its strategic partnership further. This financial cooperation would further enhance the strong economic ties between ...