Business
Reliance Jio leads India feature phone market in Q2 2018: IDC Reliance Jio leads India feature phone market in Q2 2018: IDC

 

New Delhi, Reliance Jio, the telecom operator and the main driver of the 4G feature phone segment with its JioPhones, remained the top vendor in the overall feature phone market in India in the second quarter of this year, according to data from International Data Corporation (IDC).

The feature phone market remained resilient with shipments of 44 million units in the second quarter of 2018, registering a growth of 29 per cent over the same quarter last year, showed IDC India's "Quarterly Mobile Phone Tracker" report on Monday.

Markfed opens counter in Hongkong for sale of its products Markfed opens counter in Hongkong for sale of its products


Hongkong

In a giant leap forward towards strengthening the cooperative institutions of Punjab under the guidance of the Cooperation Minister, Punjab, S. Sukhjinder Singh Randhawa, the Markfed has spread its wings and opened a sale counter at Hongkong. Owing to the efforts of the India Food Mart, the sales counter has been opened at famous Indian market ‘Chung King Mansions’ in Kamal Sweet. The counter was inaugurated by the Director Markfed Mr. Sandeep Singh Randhawa. During the occasion, Mr. Randhawa said that even though it is a new market for the Markfed but in the coming time no stone would be left unturned in the aggressive marketing of Markfed products.

Customs duty doubled on over 328 textile products Customs duty doubled on over 328 textile products



New Delhi, To promote domestic manufacturing, the government on Tuesday increased the customs duty on over 300 textile products to 20 per cent.

Airtel ties up with Telecom Egypt for global submarine cable systems Airtel ties up with Telecom Egypt for global submarine cable systems



New Delhi, Telecom major Bharti Airtel on Monday announced a strategic partnership with Egyptian operator Telecom Egypt (TE), which would allow Airtel to use the Middle East North Africa (MENA) Submarine Cable and TE North cable systems.

The partnership would help Airtel to serve the growing demand for data services, particularly in markets across South Asia, Africa and the Middle East, the company said in a statement.

GST slabs may be reduced to three to simplify tax system: Sanyal GST slabs may be reduced to three to simplify tax system: Sanyal



Kolkata, Principal Economic advisor to the Finance Ministry Sajeev Sanyal on Saturday said Goods and Services Tax (GST) slabs may be brought down to three along with the exemption category in order to further simplify the country's tax regime.

"The lower rate will be five per cent, the middle bracket of 12 and 18 per cent can be combined to a central rate of round about 15 per cent and we might have a top rate of 25 percent," he said.

Choksi given citizenship after NOC from India : Antigua Choksi given citizenship after NOC from India : Antigua


New Delhi, Fugitive Indian jeweller Mehul Choksi, wanted in a Rs 13,500 crore bank fraud, was given Antiguan citizenship after "stringent background checks" and a clearance certificate from the Indian authorities, the Antiguan government has said.

GST collection rises to Rs 96,483 cr GST collection rises to Rs 96,483 cr



New Delhi, Revenue collection under the Goods and Services Tax (GST) crossed the Rs 95,000 crore mark in July for the second month in a row and stood at Rs 96,483 crore, the government said on Wednesday.

The government said the revenue was broadly on expected lines and that Rs 3,899 crore was released to the states as GST compensation for the months of April and May.

RBI hikes key lending rate by 25 basis points to 6.5% RBI hikes key lending rate by 25 basis points to 6.5%

 

Mumbai, The Reserve Bank of India (RBI) on Wednesday raised its key benchmark lending rate by 25 basis point to 6.5 per cent in its third monetary policy review of 2018-19.

"On the basis of an assessment of the current and evolving macroeconomic situation at
its meeting today, the Monetary Policy Committee (MPC) decided to increase the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points to 6.5 per cent," the RBI said in the monetary policy review statement.

RIL topples TCS with highest market capitalisation RIL topples TCS with highest market capitalisation


Mumbai, Reliance Industries Ltd (RIL) on Tuesday surpassed Tata Consultancy Services (TCS) in market capitalisation (market-cap) in India.

RBI likely to harden monetary policy stance on Wednesday RBI likely to harden monetary policy stance on Wednesday



Mumbai, With retail inflation in India having regained the 5 per cent mark, the RBI Monetary Policy Committee (MPC) began its extraordinary three-day consultations on Monday for the second time before an announcement of its bi-monthly policy review slated for Wednesday.

Reliance Energy sale to ATL will be completed next week Reliance Energy sale to ATL will be completed next week



Mumbai, Reliance Infrastructure Ltd announced on Monday that the transaction for the sale of its integrated Mumbai power distribution business to Adani Transmission Ltd (ATL) will be closed by next week.

RInfra and ATL had signed the Definitive Binding Agreement for 100 per cent stake sale of the integrated business of generation, transmission and distribution for Mumbai in December 2017.

The total consideration value for the deal is around Rs 18,800 crore, said an official of Reliance Energy, as the company's power business is known in Mumbai.

Fake online forex trade platform busted in Mumbai, 10 held Fake online forex trade platform busted in Mumbai, 10 held


Mumbai, Police have busted a fake online foreign exchange platform which was used to cheat at least 500 customers of over Rs 6.25 crore, an official said here on Friday.

According to an official, following a tip-off, the Crime Branch-III raided Multi Business Centre Services premises in Dadar east after investigations revealed that the accused were running a bogus foreign exchange platform to cheat people by luring them to invest in the foreign exchange trade.

Sensex hits record high as GST cuts boost sentiments; banking, FMCG stocks rise Sensex hits record high as GST cuts boost sentiments; banking, FMCG stocks rise

 

Mumbai, The benchmark BSE Sensex hit a fresh all-time high of 36,749.69 points towards the fag end of trade on Monday led by healthy buying in banking, FMCG and consumer durable stocks.

Investor sentiments were boosted after Goods and Services Tax on many items including electronic appliances were slashed on Saturday, analysts said.

Broadband India Forum gears up to push 5G trials Broadband India Forum gears up to push 5G trials

 

New Delhi, Broadband India Forum (BIF), which works closely with the government's 5G high-level forum, on Thursday said it formed a "5G Committee" to champion the roll-out of 5G trials in the country.

The BIF said it received proposals for three 5G trials.

Air India divestment not possible in near future: Government India's wholesale inflation rate rises to 5.77% in June Petrol price again over Rs 84 per litre in Mumbai Sensex hits record high, Nifty trades over 11,000 mark Paytm launches forex services US dollar rises after solid jobs report 'Government acknowledges need for simplification of GST rates, slabs' Fuel prices again rise, petrol at Rs 75.85 in Delhi RIL to create hybrid online-to-offline retail platform: Ambani Half the people in India want more 'mobile-free' time: Survey Red corner notice issued against Nirav Modi Traders decry Walmart-Flipkart deal, want it scrapped Google launches new online ad tool for small businesses Rupee touches all time low, crosses 69 per dollar mark Global cues depress equity indices; oil and gas stocks slump Petrol, diesel price to drop further: Minister Global cues depress equity indices, Sensex ends 200 points lower With 90% tax on petrol & diesel, bringing them under GST impractical: NITI Aayog Vice Chairman US dollar declines as euro climbs Government cheated farmers on MSP to gain votes: Congress Government to review Air India divestment options 24% consumers in India experience online fraud: Report Cabinet may consider leasing out Pragati Maidan land for 5-star hotel Equity indices cede major gains to end flat Apple bans cryptocurrency mining on iPhones, iPads US dollar rises amid G7 summit Reliance Big TV ropes in 50K post offices for set-top box booking RBI's 'neutral' stance boosts equity indices US dollar declines as euro rebounds Jaipur jewellers face crippling cash crunch, courtesy Nirav Modi and demonetisation